Legal AF by MeidasTouch - Trump Gets AWFUL FINANCIAL NEWS after LOSING DEBATE

Episode Date: September 11, 2024

Wall Street hates Trump. The professional traders and brokers on Wall Street watched the debate and VP Harris’ overpowering performance too, AND ARE DUMPING TRUMP STOCK IN DROVES. Michael Popok uses his Wall Street experience to explain why Trump should worry less about “the market” punishing Taylor Swift, and more about the market hammering his plummeting Truth Social’s stock right after the debate as they “price” Trump’s failing electoral chances. Keep American farming going by signing up at https://MoinkBox.com/LEGALAF RIGHT NOW and listeners of this show get FREE Hot Rolls in your first box! Visit https://meidastouch.com for more! Join the Legal AF Patreon: https://Patreon.com/LegalAF Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Michael Popak, Legal AF. Donald Trump should worry less about the market, quote unquote, punishing Taylor Swift for her full-throated endorsement of Kamala Harris. And he should worry more about what the bros and others on Wall Street, the brokers and the traders feel about his electoral chances. Because following that debate performance in pre-market trading, the truth social stock media, stock ticker symbol DJT for Donald Trump is already down almost 18% before the morning opening. The stock price right now at the time of the recording is down to about $16.30 a share. That's a stock that was at $62 a share just in March. And Donald Trump is only nine days away from being able to sell his 115 million shares

of stock into the market that's now crashing before our very eyes. I don't normally care about a particular stock price tied to Donald Trump, except it's always been seen by MAGA to be a barometer of his electoral chances. The higher the stock, the more Wall Street thinks he's going to be a winner. The lower the stock, the more they think he's going to be a loser. And we know how Donald Trump hates to be seen as a loser or be surrounded by losers. There's no other way to interpret what Wall Street is already doing before the opening bell. They are hammering the stock,

which is a reflection that they have eyes and ears. They're carbon-based, they're sentient human beings. They watched the debate, they saw what happened. It was on, the split screen was dogs and cats being eaten by immigrants and aliens, hordes of people coming out of mental asylums taking black and brown Americans jobs on one side, that apocalyptic walking dead dystopic theory of Donald Trump about carnage or the American carnage on one side, and clear, concise, eloquent recitation of analysis and facts in a prosecutorial way,

and for good measure by Kamala Harris, and for good measure, triggering Donald Trump and knowing exactly where to cut him, to get under his skin in order to have him take the bait about rally size. He loves talking about the size of things and his asking for the electrocution or the execution of the Central Park Five, the innocent five

who were wrongfully put in prison for years in New York because they were convicted because of the color of their skin for the horrible beating of a woman jogger in Central Park when they didn't do it. One of those people is now on the New York City Council. That's how he's turned his life around after being falsely accused and imprisoned in jail. But for Donald Trump, he took out a full page ad

which Kamala Harris reminded him of in the debate. You know who else knows about Donald Trump's position about the Central Park Five during that period in New York's history? Wall Street, brokers, traders. And just like the oddsmakers and bookies in London take bets on anything, this is showing you how Wall Street is fleeing Donald Trump's sinking electoral chances. You don't drop that far, 57% in the last three months, 17% before the opening bell coming off the debate,

which is the biggest indicator of how the Wall Street, smart money, sharp money perceives as debate performance. I mean, Kamala Harris turned it around. Joe Biden lost in the public perception the first debate by almost equal numbers. It was almost exactly equal. So she flipped the script. And so there is no one in America

who could legitimately think that Donald Trump won that debate. We played it on the Midas Touch Network. Of course, anonymously, a bunch of House Republicans said that was a disaster, what Donald Trump did, that he took every bait, that he was incoherent. His solution for everything was tariffs against China, regardless of the topic, including a woman's reproductive rights and the right to choose. He lied to the American people about the constitutional right of a woman to choose enshrined in the Constitution for 52 years and his role at removing it, saying to the world, he looked the camera

straight in the eye and the American people and said, everybody wanted to remove a woman's right to choose. Check the polls, Donald. The vast majority of Americans disagreed with the Dobbs decision and to have the constitutional right removed. He said everybody, including Democrats, constitutional scholars, and everybody on the left and right wanted to return it to the states. Return it to the states? Why don't we put slavery up for a vote and see what would happen in the red states versus the blue states?

Why don't we reimpose slavery and indentured servitude? How about that? Is that where we're at? There's just some things you can leave to a populist vote as opposed to being something that is so clearly part of our rights system, our civil liberties, our constitution, that it needs to be in the constitution and protected by the United States Supreme Court, not the other way around, not to Donald Trump, who looked at the American people and said in an incoherent way, I had the courage to put those Supreme Court justices on and take away a woman's right to

choose and turn it over to the states, knowing and leaving out that next statement, which is in the red states, they're going to criminalize a woman trying to be a first class citizen, not a second class citizen, and having bodily autonomy, and friends around her that helped her with that decision, and people that supported her. And in blue states, they're going to be able to have it. They're going to be able to exercise bodily autonomy. That's what he's created. A civil war in this country, claiming that he solved the civil war. So, after hearing that China tariffs were going to solve everything, having him not understand

reproductive rights, he can't even get IVF, he can't even get the acronym right. He called it IEF. Okay, and as somebody that participated in IVF, it's near and dear to my heart. Having heard that, having heard about his claim that the Biden-Harris administration is responsible for allowing people in, this is the quote, mental patients in mental asylums and jails being led out to vote and take your jobs. You know, this is the scare the crap out

of the American people section of the MAGA party. You know, this is what we're at right now. There is a boogeyman under your bed and I'm the only one that can solve it, right? That's what the Wall Street saw. And that scared the crap out of them. And all the smart money is running away from Donald Trump crashing the stock, which will have a domino

and cascading effect on his financial fortunes and his ability to win the presidency. I think it's a bellwether. I think when Wall Street dumps Trump stock, it's signaling a few things. A, we wanna cut your legs out from under you financially. Donald Trump was banking on, in March, he was banking on a $6 billion payday, because that's on paper what his shares were worth in March. They are now worth $2 billion

at best. And really that's still on paper because he hasn't sold it or loaned against it or hypothecated it as we say on Wall Street. So he's lost four billion dollars on paper, four billion with a B. He owes a hundred million, people thought I said billion last time, a hundred million to with running with interest to E. Jean Carroll. He owes five hundred million running with interest to the state of New. He owes 500 million running with interest to the state of New York for fraud. So that's $600 million. And as I've said before, how many Bibles,

T-shirts, suits off your back, sneakers, trading cards and fake books can you sell to keep this calliope spinning? He's running out of griffs is what I'm trying to say. Did you know that four companies control over 80% of the US meat industry? I had no idea. These companies are using mobster-like tactics to crush American family farms and with the additives they're putting into our food Americans are stuck with sketchy meat. And would it surprise you to know that 99% of the chicken, 95% of the pork, and 78% of

cattle are raised in feedlot or confinement buildings? I was shocked. So what can we do about it? Let me tell you about a company that's coming up swinging on behalf of American Family Farms and your family's food security, Moink. Their farmers are given an honest day's pay for an honest day's work, and they deliver meat straight to your doorstep

at prices you can actually afford. Keep American Family Farms farming by joining the Moink movement today at moinkbox.com slash Legal AF. Sign up today and get free hot rolls in your first order, the Moink movement today at moinkbox.com slash legal AF. Sign up today and get free hot rolls in your first order spelled M-O-I-N-K box.com slash legal AF. Oink, oink, get moinked.

Moinkbox.com slash legal AF. I mean, I made a comment recently that, are we talking about the economics and fortunes of a presidential candidate? Or am I talking about the economics and fortunes of a presidential candidate or am I talking about a flea market? Sneakers? Bibles? Trading cards? I mean seriously. So what I find fascinating is how quickly the smart money on Wall Street is abandoning Donald Trump. Sure, there's a handful of Wall Street titans at hedge funds, private equity funds, brokerages that are supportive of Donald Trump. Let me say something that may not be apparent. While there is a fair number of people who are

Democrats on Wall Street, the majority of people that run and control firms on Wall Street are, or lean, center right or Republican. It's just reality. Look at who's heading up Donald Trump's transition team. Look who's donating. Bloomberg just did a whole list of the top billionaires, multiple billionaires that are supporting Donald Trump. I would say two-thirds of that group is supporting Trump and one third is supporting Kamala Harris. For every one Wall Street Titan that's

supporting Kamala Harris, Donald Trump's got three that are supporting him. But traders and brokers, they're not political in that way. They are political. They often trend Republican themselves. But they're traders. They're brokers. They're watching the market. They're playing the numbers. They're agnostic, if you will, about the politics at that moment. They're just thumbs up, thumbs down, make the trade, don't make the trade. Now now Donald Trump has this tremendous decision to make now that Wall Street is making for him about how much, if any of his 115 million shares he can sell in the next 11 days, in the next nine days.

Because if he sells any part of it into this stock price, which is now heading for the drain, circling the drain. He'll crush the stock price. Sure, he'll make money. He's got 115 million shares. Even if it dropped to $5 a share, which is $5 under the original offering price

or unit price for this public company, he'll still make $600 million or so. It's the mom and pop investor that followed him in to this burning house. They're gonna get crushed and burned. The people that bought at 10, 15, 18, 20, 30, 40, 50, 60 dollars a share. As the share now heads down to 16 dollars a share and heading down, as I said, an earlier hot take below 10. Donald Trump will always make money.

At $2 a share, he'll have $230 million. But everybody else that invested will be completely crushed and their life savings taken away from them because they followed him once again. Everybody that follows Donald Trump ends up in jail, ends up losing their bar licenses, ends up being financially ruined, as Donald Trump just floats above it all because he's got access to these capital markets and these donors and these suckers

that buy his trading cards and his NFTs and his Bibles and his sneakers and the suit off his back and his mugshot photo and everything else. But the rest of the regular people, the regular people that run around with their Trump MAGA flags, pointing over there, the Trump MAGA flags and their pickup trucks and on their houses and at their country clubs and everything else, they're the ones that suffer from his policies, whatever they may be, and Wall Street caught it.

I'm going to continue to follow the downsliding of this stock and soon, very soon in the next week or two, in the next day or so, Donald Trump's going to have to reveal on a Form 4 SEC filing how much of that stock he's going to be selling and whether he's going to try to take out a loan, because a lot of these Wall Street titans are willing to line up to give Donald Trump money because they think he could be president. So is he going to get a loan against the stock so he doesn't have to sell it? That's his best bet. If I were a betting man, I would say he's going to try to take out a major loan, two, three, $500 million. He'll find somebody on Wall Street,

that'll give him that money at some exusurious interest rate against his stock and try to ride out this gyration of his stock price. Or he finds a buyer to take one big block of stock, 30 million shares at $18 or something like that. And this way it has a hit on the market and the stock price but not as big as if he just sells it out through retail. Loaning or block sale. He does not dribble out 50 million shares, 110 million shares a day, a million shares a day for the next 115 days. He's not doing that.

So we'll watch what he does. And then he's going to have to make continued SEC disclosures to the investing market about the stock price. I mean, he can't bury his head in the sand. He's gonna have to make disclosures to the market about why he thinks the stock price is getting hammered. He's gonna argue, well, short sellers are coming in, Democrats are coming in and dumping the stock. Forget that.

He's gonna have to make real disclosures about his business economics, which are non-existent. I mean, this is just the tulip market in Holland, where tulips went for thousands of dollars a piece. There's no business model here. There's no economics underneath truth social. It has no content. It has no audience. It has no audience.

It has no subscribers. It has no advertising. This is not a bit, it's not going to get fixed. Its only content is Donald Trump and look what he just did on the debate stage. We all saw it. He's not qualified or competent to be president of the United States. And he's not going to be able to mean tweet his way to a fortune and a sustainable economic model for his business. And the stock market knows it. And that's why following the debate, it hammered the stock now down 17% to start the morning trade.

Continue to follow True Social because it's a bellwether of how Wall Street and how gamblers, if you will, how brokers and bookies see the electoral odds of Donald Trump circling the drain of history. We'll continue to follow it on the Midas Touch Network and on Legal AF. We'll give you a little plug here. There's Legal AF. Every Wednesday and Saturday at 8 p.m. Eastern time, you can watch the live recording of Legal AF. Find out what 40 million people a month already know that Legal AF on the Midas Touch Network

is the home of politics and law analysis and commentary coming to you from lawyers who practice in the courtrooms that they're talking about. Lawyers talking about things they know what they're talking about at the intersection of law and politics. How refreshing. And then you can also pick us up on, of course, audio podcast platforms, wherever you get those. Just plug in, there's our album cover.

Just plug in Legal AF and there will be. So join me Wednesdays and Saturdays at 8 p.m. Eastern time. Wednesdays I do the show with Karen Friedman and Nick Nifilo. Saturday with Ben Mycelis and then hot takes like this about every hour. So until my next hot take, until my next Legal AF, this is Michael Popak reporting.

Heary, heary, Legal AF Law Breakdown is now in session. Go beyond the headlines and get a deep dive into the important legal concepts you need to know and we discuss every day on Legal AF. Exclusive content you won't find anywhere else, all for the price of a couple of cups of coffee. Join us at patreon.com slash legal AF. That's patreon.com slash legal AF.