How can one go from pumping the stock market as purely his own accomplishment (see below) to the following statement What the Trump White House says about this sharp stock-market reversal after the so called crash?
‘The President’s focus is on our long-term economic fundamentals, which remain exceptionally strong, with strengthening U.S. economic growth, historically low unemployment, and increasing wages for American workers. The President’s tax cuts and regulatory reforms will further enhance the U.S. economy and continue to increase prosperity for the American people.’
The answer is rather simple for any rational human being. President Trump is full of hot air and BS.
Yet, it is incredibly difficult to argue with hardcore Trump supporters. I was one of them before he flipped on nearly every important issue, but let's try.
For instance, according to most Trump supporters, we are witnessing an economic miracle the like of which we haven't seen since the days of ancient Rome. For instance......
Fair enough, but.... under Obama the Dow Jones zoomed up about 200%. And under Trump? Well, as Mr. Trump so graciously points out himself, it is up about 34% since he won the election. Not bad, but far from Obama's achievement.
The above applies to almost any measure. From unemployment to GDP Growth. Thanks to the FED and their insane monetary policy, of course.
Second, it is a well known fact among American Presidents to never take credit for the stock market's boom. Why? Well, because one might have to deal with the consequences of a recession or god forbid, a market crash. Understandably, such a silly rule does not apply to Emperor Trump.
- With the Dow breaking 25,000 for the first time, President Trump is hoping for even bigger gains.
- "What that means is that, whenever you see that number go up on Wall Street, it means jobs, it means success, it means 401(k)s are flourishing," Trump tells reporters.
But, do you recall the following.....
So, either President Trump is a mad genius, a complete fool or a liar. You decide. One thing is certain, it will be fun to revisit his tweets below in a few years.