Trump’s Congressional speech impediment

Global markets are holding their collective breath on Tuesday as institutional investors await President Trump’s joint address to Congress.

The markets need to hear concrete actions for Trump’s economic plan from tax policy and infrastructure spending to speak of two large objectives. Paying for these initiatives is less important than specifics of the plans.

I know what markets don’t want to hear: “ObamaCare is a disaster, a disaster.” “Highways are a disaster.” or other campaign rhetoric employing the word “tremendous”.

Specifics are key to the markets. They have heard all the woes the administration is facing.

However that said, I believe the markets will be greatly disappointment with the address. Trump is not capable of giving specifics. He is not a detail person. He gives sweeping ideas for others to hash out nuts and bolts.

Unfortunately the people charged with getting to the details are novices as to how Washington works. This stonewalling by the entrenched bureaucrats will ultimately look as if the administration is ineffectual in putting out a plan.

In his speech tonight, Trump will say some things that will be flatly wrong and within minutes the permanent government will be texting the media to sabotage the statements before the echo subsides within the chamber. The questionable statements will sound right to most of the country, but insiders will know the minute, specific detail that makes it wrong.

And so the next four days Trump will be defending the spirit of the statements versus the specifics. The administration will take one step forward and two steps back after the speech.

I’m not clairvoyant, I just see the institutional Capitol forces uniting against his initiatives.

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