CNBC Panelist Explodes Over Trump's Latest: 'Stupidest Idea I've Ever Heard!' (UPDATED)

By Frances Langum — August 23, 2019

So what happened today was markets were recovering nicely from the China-Trump feud, then China announced new retaliatory tariffs. Then Fed Chairman Jerome Powell gives a speech at the Jackson Hole (don't get me started) which calmed the markets.

But wait! Trump is about to effing tweet something that will cause the markets to crash again! (Is he short-selling? Please find this out, Congress.)

....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?

— Donald J. Trump (@realDonaldTrump) August 23, 2019

....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..

— Donald J. Trump (@realDonaldTrump) August 23, 2019

....your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,....

— Donald J. Trump (@realDonaldTrump) August 23, 2019

....all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

— Donald J. Trump (@realDonaldTrump) August 23, 2019

The CNBC panel has had enough. Jim Lebenthal is a partner at Cerity Partners.

JIM LEBENTHAL: This idea of forbidding companies, or in any way preventing US companies, from doing business in China, has to be the most stupid thing I have ever heard in my life. Are you gonna tell Boeing they can't sell planes in China? ...I try to remain measured, but I gotta say again, this is the stupidest idea I've ever heard."

The panel also included Steven Weiss of Short Hills Capital Partners, who said that the biggest risk to the market is Trump:

Quote of the day from Tengrain at Mock Paper Scissors, "Local Communist Seizes Means of Production"

I thought I was done for the morning, but holy shitballs, our Stable Genius, King of Israel, the Chosen One, Comrad Trump continues to prove to us that the 25th Amendment needs to be invoked now.

UPDATE: The fascist-in-chief is all about wrecking the economy here and abroad. Dow futures are down almost 600 already. By Monday, your 401k will be toast. Who profits? Let's follow the money and market manipulations to see.

For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight....

— Donald J. Trump (@realDonaldTrump) August 23, 2019

....Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer. As President, I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very....

— Donald J. Trump (@realDonaldTrump) August 23, 2019

...unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%...

— Donald J. Trump (@realDonaldTrump) August 23, 2019

...Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Thank you for your attention to this matter!

— Donald J. Trump (@realDonaldTrump) August 23, 2019