On Thursday, the Dow Jones Industrial Average plunged another 660 points, suggesting that investors expect more bad financial news and lower earnings reports from companies.
While most economists say President Donald Trump’s ongoing trade war and excessive tariffs are to blame for uncertainty in financial markets, Trump said Friday it’s Congressional Democrats who are driving down the American economy:
As I have stated many times, if the Democrats take over the House or Senate, there will be disruption to the Financial Markets. We won the Senate, they won the House. Things will settle down. They only want to impeach me because they know they can’t win in 2020, too much success!
— Donald J. Trump (@realDonaldTrump) January 4, 2019
It should surprise no one that Trump would try and place blame on others. When the market was booming, he claimed credit for the rise. Now, however, he cannot possibly admit that his economic policies are causing financial disruption and have even contributed to massive losses by businesses such as GM, which recently announced it will close five plants and cut 14,000 workers.
The reaction to Trump’s ludicrous tweet was immediate, with most people reminding him that the market began tanking in October, before the midterm election was even held:
Trump took all the credit when stock market was up but blames everyone else when things go badly. Trump is the person in your office everyone hates because he tries to take credit for all your work but then tells the boss you screwed up when it was really him.
— (((DeanObeidallah))) (@DeanObeidallah) January 4, 2019
Didn’t 45 say, “He alone can fix it? Well he alone broke it!
— Jacqueline Barbour (@simgnew) January 4, 2019
Unemployment is up today per new labor report to 3.9 percent- the highest unemployment in 6 months. And black unemployment jumped from 6 to 6.6% Trump is panicking because he inherited a great economy and he is destroying it.
— (((DeanObeidallah))) (@DeanObeidallah) January 4, 2019
The markets started tanking in October. Calendars aren’t that difficult.
— Chris M (@Outdoors55) January 4, 2019
11 OF THE BIGGEST DAILY DROPS HAPPENED ON YOUR WATCH 7 CAME BEFORE THE ELECTION EXPLAIN THAT
— patricia pahr (@ppahr) January 4, 2019
The disruption of the markets started a month ago, spurred by your trade war with China and and railing against the Fed chief who you chose
— Robert Crooks (@Rcrooks1969) January 4, 2019
Featured Image Via YouTube Screenshot
