Jeremy Siegel: This destructive trade policy has disrupted the market

요약 보기

트럼프 관세 정책이 불확실성을 키워 증시 하락의 주원인이며, 최근 6주간 약 10% 하락의 가장 큰 원인이라고 진단. 캐나다 관세 유예와 우크라이나 휴전 기대가 없었다면 하루 수천포인트 하락이 있었을 것. 제조업 일자리 증가 효과는 미미(10만개 수준, 전체 고용의 1/10 이하)해 주식 시장 손실(약 20조달러)과 비교하면 경제·정치적으로 타당성이 없다고 비판. 미국인 절반 가량이 주식을 보유해 정치적으로도 불리하다고 주장.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. it does take us to our talk of the tape how much lower might stocks go let's ask Professor Jeremy seagull of the Wharton School he does join us now Professor welcome back it's nice to see you good to see you Scott your thoughts here as you watch these markets over these last days well I'll tell you if if those two good developments perhaps a standown on the Canadian Terra and hopefully a ceasefire in Ukraine if they hadn't come up I think we would have had enough thousand Point drop day to day I mean it's clearly this disruptive uh destructive if I if I should say so up and down uh trade policy that has uh really worried the market uh and S uncertainty among consumers and businesses um and uh you know I I I I hope that the Trump team sees what uh the stock market and in fact some early polling of some of the of this impact has so that this policy can be rationalized um because I think it is by far the major cause of the 10% decline that we've had over the last 6 weeks Professor let's just let's just entertain an issue here what if the White House and the president as you say don't care as much about the stock market right now as people thought that they might and that policy and getting their policies through are more important than whatever the stock market does I ask you this question because the press secretary at the White House today during the briefing was asked about the selloff in which she said quote we're in a period of economic transition after the mess created by Joe Biden also bring it up because the treasury secretary himself told this network just last week we there's no Trump put it seems like they're telegraphing to investors that the economy is going to get worse before it gets better and the stock market may go down as a result and so be it well I mean this makes no sense to me economically and and no sense politically I mean I I mean so what are we saying we're going to bring 100,000 manufacturing jobs back to the United States and tank the stock Market by$ 20 trillion in the meantime uh you think the people in Florida living off you know the accumulated wealth that they've done in the last 10 years are going to be all excited about you know some plant that uh Trump saves in Eerie Pennsylvania for 300 jobs or 500 jobs by the way producing something that they could have brought cheaper without the tariffs beforehand I mean it just doesn't make sense I hear it but then I think of the politics of it and I I think of the economics of it and uh it just doesn't wash uh yeah we do you know I mean there are un unfair Trade Practices we want to normalize some of these but this this Grand Vision the the cost parody is just nowhere near there and the political parity does not speak anywhere in favor of the Republicans uh or for the American public oh don't forget almost half the American public own stock if not directly indirectly through their you know 401ks through their IRAs through their Pension funds you have 180 million 150 million people there so you know we're going to bring some manufacturing back to the US how many jobs is that less than one/ tenen of 1% so they're going to get a little higher pay than would otherwise where is where's the politics there Scott I don't see it maybe maybe someone can tell me