Since the day Donald Trump was elected, the stock market has achieved record gains. From November 8th, 2016 through today’s dip, the DOW has been up close to 12,000 points. For better or worse, Trump has long used the DOW as an indicator for overall economic health. He routinely points to a solid market day as proof of his policies benefiting the overall economy.
Of course, on the flip side, this opens him up to criticism when the market dips. Trump had several tweets prior to assuming the presidency in which he criticized President Obama for poor trading days. As a result, woke Twitter routinely let’s Trump have it when the DOW is down.
In Trump’s defense, more Americans own stocks now than ever before and the numbers are up sharply from just 30 years ago. That said, using a speculative stock market to measure health of the overall economy isn’t wise. Trump opens himself up to potshots on this, but as always, woke Twitter manages to outdo themselves time and time again.
Whenever the market dips under Trump, it is reported as economy wrecking news attributed solely to Trump. It is often stated that Trump owns some of the largest drops in DOW history, which is only true for those who don’t understand basic math. While massive raw drops have occurred in recent years, they hardly rank in terms of overall DOW percentage. Drops of 700-800 points only represent 2-3% of the total right now, meaning the largest drops under Trump don’t even register in terms of worst percentage losses. Most of these came during the Great Depression or 2008 crash.
All significant DOW drops in the Trump era have been followed by gains. One could argue that the volatility is unhealthy, but anti-Trump fanatics can’t help themselves. Their hatred of the orange man is so severe that any and all wrongs in the world are caused solely by him, and this is the end result.
Anti-Trump fanatics have also discounted the coronavirus as a reason for the market carnage or grasped at straws to pin covid-19 related fears on Trump. A common talking point has become that Trump “slashed” the CDC budget. Why tell the truth about global market fears thanks to outbreaks in Italy and South Korea when the orange man can be bad for a new reason? I’m sure they get sick of vast conspiracy theories involving Trump towers in every country on earth.
This time, Drumpf is a drooling buffoon who is solely responsible for coronavirus market carnage thanks to slashing the budget of a bureaucratic organization. It’s a constant alteration between Trump being a Bond villain in cahoots with every authoritarian on earth and Trump having the mental capacity of a five year old who lucked his way into the presidency. Slashing the CDC budget is what is ushering in the death of the economy if you asked Ted Lieu and the boys.
As always, the same chorus of woke Twitter fanatics manage to ruin any meaningful argument they could have had in search of orange man bad points. How come the CDC budget cuts are so devastating, what does it entail? Why no mention of American dependence on China for supply chains, including upwards of 97% of antibiotics? There’s never a discussion to be had with woke Twitter, only dunks finger pointing.
The saddest part is that by next week, there will likely be a new “bombshell” about Trump that this crowd will be focused on. Drumpf is going down and it’s REAL this time! The economy may not be dying anymore, but rest assured, Drumpf will be bad for a new reason soon enough.
Maybe this time there will be a vast conspiracy involving Trump business ties in Brazil? We haven’t had a conspiracy that ends with the jailing of all right-wing politicians out of South America yet, so maybe it’s time. The Russia reboot seemed to fall on deaf ears, so Schiff will have to be creative this time.