The former president of the Family Research Council, labeled a hate group by the Southern Poverty Law Center, Tony Perkins tried to create a new bogeyman against Trump by claiming Big Business and Wall Street was tanking the market to hurt him.
Perkins, a Christian nationalist MAGA cultist, made these comments on his Washington Watch podcast.
David Bahnsen, the Founder and Chief Investment Officer of The Bahnsen Group, told him that’s not the case.
PERKINS: Is this possibly Wall Street, big business kind of bowing up to the president saying, we’re not going to go along with this. We’re going to show you and we’re going to rattle the stock market.
BAHNSEN: No, I’ve heard some theories like that. And I would tell you and our listeners out of hand that that isn’t what’s happening here.
The idea that investors are willing to go sell things at a loss and sell into a loss to try to teach the administration a lesson. I don’t think it speaks to a good understanding of what these guys incentives really are.
This is capital in pursuit of a return, not a particular agenda.
It’s capital being driven by fear right now, Tony, that perhaps we’re going to see a decline in profits, a decline in wages, a decline in economic growth.
And so from my vantage point, running over $7 billion wealth management firm, I get to see the optics to both the stock market, but also regular business because so many of our clients are business owners.And I got a hundred calls on Thursday, Friday, and over the weekend, 83% of whom voted for President Trump, absolutely petrified.
Big business is in the business of making money and making money for the inverters and clients. If they thought Trump’s moronic tariffs were a winner, the markets would have skyrocketed the other way. But they are competent and know tariffs are a disaster.
I was waiting for the MAGA cult to turn on Wall Street because Trump can never be wrong, he can only be wronged.
Trump claimed Kamala Harris would tank the stock market, but for Trump, you should want the pain he caused and celebrate it.