Donald Trump loves to brag about Stock Market gains, but he remains silent when the Dow is plummeting. After more than a week straight of losses, the markets on Monday were edging back up, but this is an unpredictable time with the worldwide spread of the coronavirus concerning investors. Trump, who has tied the stock market to what he calls his “booming economy,” knows that the current situation with the Dow spells trouble for his chances of reelection.
While President Stock Market was speaking to the National Association of Counties — where he told a long list of lies — he bragged about stock market gains that were made yesterday.
“And today it’s up.” In reference to the Fed cutting rates, he said, “Do it more! Do it a little bit more!” Meanwhile, stocks were falling again today.
As stock markets fall again, Trump boasts about the big gain yesterday and adds, “And today it’s up.” (Perhaps it was up when he last checked; it was up earlier today.) Of the Fed rate cut, he says, “Do it more! Do it a little bit more!”
— Daniel Dale (@ddale8) March 3, 2020
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I’m just going to leave this here.
when the fed cut rates during the recession and under obama, the right said it was a vast conspiracy to prop up the left. just saying. https://t.co/h9L1dtGFQc
— Oliver Willis (@owillis) March 3, 2020
And this:
Trump’s argument is basically “Look how strong I made the economy!” and also, “Help! The economy is so fragile that I need the Fed to please cut the interest rates as low as possible! It’s an emergency!”
Checks out.
— Parker Molloy (@ParkerMolloy) March 3, 2020
Trump’s penchant for lying is getting worse.
Trump tells his stories about how the US is now the #1 energy producer but didn’t used to be (it took the top spot in 2012), how Hillary said the deal with South Korea would produce 250K jobs (she never said that), how there used to be “$500B a year deficits” with China (never).
— Daniel Dale (@ddale8) March 3, 2020
Trump has spent the last two days on Twitter desperately yelling at the Federal Reserve to slash interest rates. The Fed did provide an emergency cut in order to combat the effect of the virus, but stocks fell in volatile trading on Tuesday by half a percentage point.
Adding to that, the federal deficit under Donald Trump will top $1 trillion this year, the Congressional Budget Office announced in its annual fiscal outlook in late January. Trump’s tax cut for the rich will add $1.9 trillion to deficits over 10 years.
How are y’alls 401ks doing?
Featured image via screen capture
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