Fox News anchor Neil Cavuto recently pointed out something interesting about Trump and the economy. He said, “The Trump thing and the market amazes me. When they are up, it is because of him. When they are down, it is because of the Democrats. Some of the biggest point losses occurred during his administration.”
He pointed out the obvious truth: Trump always takes credit when the economy is good but blames others when things go bad. Some of the biggest stock market drops actually happened during Trump’s time in office, but you’d never hear him admit it!
During Trump’s last year in office, he pushed the Federal Reserve to pump loads of money into the economy during the pandemic. This caused the money supply to rise by more than 25%, the biggest jump in U.S. history. Back in 2016, Trump said on CNN, “This is the United States government. First of all, you never have to default because you print the money.” He even suggested printing more money to reduce the national debt, like it was that simple! Well-known economist Milton Friedman once said, “Only government can create inflation,” and Trump seemed to have taken that as a challenge.
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By early 2021, inflation had soared to over 8%. Even though Biden worked to reduce it, bringing it down below 3%, the damage was already done. Prices stayed high, showing that while Biden could slow inflation, fixing what Trump broke was no easy task.
Cavuto’s comments about Trump sparked reactions on Twitter. Rick Searle (@Skydive101) joked, “His worthless stock is certainly down!” referring to Trump’s failing business ventures. Another user, Michael B Lehrhoff (@mblehrhoff), tweeted, “It’s the same Trump ‘logic’ as when he wins an election, it’s legit; when he loses, it’s ‘rigged’.” It’s like Trump believes that if he’s not winning, something shady must be happening.
His worthless stock is certainly down! pic.twitter.com/XFpYdWs8Zr
— Rick Searle (@Skydive101) September 21, 2024
It’s the same Trump “logic” as when he wins an election, it’s legit; when he loses, it’s “rigged”.
It all makes sense if you realize he’s simply a spoiled toddler in a red tie.— Michael B Lehrhoff (@mblehrhoff) September 21, 2024
Then there’s lddangelo (@lddangelo1), who tweeted, “Trump takes credit for everything positive. Trump takes no responsibility for anything negative. It doesn’t matter how illogical his claims are. And his MAGA cult sucks it all in. Vote Harris/Walz 2024!”
Trump takes credit for everything positive. Trump takes no responsibility for anything negative. It doesn’t matter how illogical his claims are. And his MAGA cult sucks it all in.
Vote Harris/Walz 2024 !!
— lddangelo 🟧 (@lddangelo1) September 21, 2024
Love when Neil introduces truth to Fox
— SteV (@ThatStevenM) September 21, 2024
Trump’s economic policies remind us of President Richard Nixon, who also messed with the Federal Reserve in the 1970s. Nixon pressured the Fed to adopt loose monetary policies, which led to what’s now called the “Great Inflation.” Both leaders show that when politicians push central banks too far, things can quickly spiral out of control.
Biden has tried to fix the mess Trump left behind, using tools like the Inflation Reduction Act and Infrastructure Investment and Jobs Act to steady the ship. But while Biden’s efforts have slowed inflation, prices haven’t gone back to where they were before. The damage Trump’s policies caused is still being felt today.
Featured image via Screengrab
