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The Donald Talking Smack And Waking It Up - By Charles Payne

"I'm really rich!" That's just one of the observations made by the latest candidate to throw his hat in the presidential ring. It was the most badass announcement to date.

Assets

$9.2 billion

Liabilities

$0.5 billion

Net Worth

$8.7 billion

Donald Trump is now in the race and it's all about Machiavelli, not Dale Carnegie. The man is not trying to make any friends; he even seems willing to make a few new enemies.

First, he crushes his GOP foes; actually saying that one was so oblivious that he "sweated like a dog" when he made the announcement (referring to Rick Perry). He harshly dismissed Jeb and he did not seem to take Marco Rubio seriously either.

However, he called the folks in Washington of all stripes "losers" controlled by special interest. The fact is that Donald Trump is a billionaire and he is not taking any money, which means true independence. In fact, his candor also hints at being an independent, even though he seemed to be reaching for the top of the GOP Republican ticket.

Then, Trump threw down the gauntlet on China, Japan, and Mexico. While complimenting China and Japan for taking advantage of inept U.S. negotiators, he sent out a salvo that things would be different. He also took a shot at Ford for breaking ground on a $2.5 billion plant in Mexico; he stated he would call the CEO and let him know that each car, truck, and part would be slapped with a 35% tax when it is sold in the United States.

He stated that Mexico was learning how to game the United States through trade policies. And his comments about the country dumping its problem citizens on America may have rankled a few people living in Mexico and living here. He went on to say that drugs, crime, and rapists from Mexico and other nations would be slowed or presumed stopped with a southern wall between the nations and that Mexico would have to pay for it.

Donald Trump vows that he would be "the greatest jobs president that God ever created!"

He's got a lot of bravado, but will America buy it? I am not sure, but I will not write-off Donald Trump, nor will I ignore the things he said yesterday because the majority of what he said needed to be said.

Moreover, the fact is that like most great CEOs, the Commander-in-Chief must also be Chief Excitement Officer…enough already with how horrible this nation has become under a system that rewards hard work and even sloth, too.

Today's Session

This morning, FedEx laid an egg, missing on top and bottom lines. The misses were large just enough to serve as a proxy for the economy and what the Fed does next. The economy is just not there yet. Yes, there are other factors in the FedEx number, but there was nothing robust that speaks to an economy in the midst of taking off. On the contrary, it feels like we will plod along for a while.

In the meantime, the company lowered its economic outlook for the United States this year.

  • GDP now 2.3% from 3.1%
  • Industrial Production now 2.2% from 3.8%

I think the Fed would like to hike rates this week for some form of credibility, but I don't know they can do it in September unless there is dramatic evidence the economy is on fire. Right now, it's barely smoldering.