The topics Donald Trump takes up on Twitter almost always fall into one of two categories. Either he is lashing out at a perceived enemy (fake news, Alec Baldwin, etc), or he is exalting himself for something for which he doesn’t deserve any credit. The patterns are predictable and invariably involve childish outbursts.
One of the most frequent subjects of his self-praise involves the performance of the stock market. He likes to point it out whenever it goes up and baselessly attribute that activity to his unique awesomeness. And for some reason, he never mentions it when it goes down. News Corpse noted this peculiarity back in January, which was the last time that Trump tweeted about an up day in the market. He’s been uncharacteristically quiet on this subject until yesterday. The article warned that Trump’s bragging would come back to “Bite Him in His Sh*thole Country” and said in part that…
“It’s always dangerous to rely on stock market performance to validate the economy. There are too many factors that can shift investor sentiment. It is a fluid indicator that could reverse course tomorrow. Indeed, many stock analysts regard the market’s current position as overvalued. These analysts are predicting a ‘correction’ that could send the markets down significantly.”
Apparently Trump failed to heed my warning. Yesterday he posted a tweet congratulating himself again on a big market gain. He’s Replying to a CNBC tweet that notes “Dow posts third best one-day point gain ever.”
— Donald J. Trump (@realDonaldTrump) March 26, 2018
Indeed the market soared 669 points on Monday. What Trump failed to mention was that on Thursday it dropped 725 points, and went down another 424 points on Friday. That’s a total of 1,149 points. So Monday’s gain didn’t come close to making up last week’s losses. And to make matters worse, the market took another dive today of 344 points. So the market is still down 824 points since Thursday. In fact, it’s down 2,759 points in the past thirty days, which puts it deep in “correction” territory.
The most often cited cause for this recent decline is Trump’s ill-considered and reckless declaration of a trade war with Asia and Europe. And his recent tax scam legislation that gave corporations and the wealthy big tax cuts and exploded the national debt by over a trillion dollars didn’t help matters either. Knowledgeable analysts recognize that Trump and the Republican Congress are squarely to blame for our current state of economic crisis.
The actual damage that Trump does is only one part of what makes him so dangerous. His insistence on lying about his failures afterward congeals the whole mess into a spreading catastrophe. The dimwitted disciples who can never find fault with Trump will believe whatever he tells them to believe. Consequently, they have no idea of where the market is now or what reasonable steps should be taken to mitigate any further harm to the American families who rely on their investment earnings for current or future needs. And the GOP Congress and Trump have shown clearly that they couldn’t care less. But then, we already knew that.
How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.