Trump's economic approval hit 34%. Disapproval hit 65%. ,That tops every other president in CNBC's surveys, which extend back to Barack Obama.,
Not a typo. Not a rounding error. A record.
Look at the phrase "fair or poor." ,Eight out of 10 Americans now rate the economy that way., Fair. That's the nice one. That's the participation trophy of economic adjectives. Someone looked at their grocery receipt, their gas pump, and their 401(k), and said, "Fair." Bless that person. They're the only optimist left.
The real story is Republicans. ,35% of them are now pessimistic, up six points and the highest share during either Trump administration., That's the base. The people who would defend a Trump-branded steak through a house fire. Now they're checking their wallets and sighing.
Micah Roberts of Public Opinion Strategies, a Republican pollster, put it plainly. ,The souring came from Republicans, not independents or Democrats., When your own pollster is delivering that line, the party is over. Somebody hide the balloons.
Then there's the midterm. ,Voters prefer Democratic control of Congress, 52% to 45%., The election is November 3. That's less than two weeks. Republican candidates are running uphill with a backpack full of gas receipts.
Even the Iran angle is sagging. ,Only 46% think the military action was worth it to disrupt nuclear capabilities, down from 53% in April., Seven points gone in six months. Wars used to hold their value better than that.
Here's what I find fascinating. This poll will cause a thousand segments. Panels. Maps. A man in a vest pointing at a bar chart. None of it will move your portfolio one basis point. The S&P doesn't read CNBC polls. It barely reads earnings.
Retail traders will still try. Someone is, right now, buying puts on "vibes." He'll lose money anyway. The vibes were already priced in. They were priced in at "fair."
Eighty percent of America says the economy is fair or poor, and the other twenty percent are lying to the pollster so he'll hang up.
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