President Donald Trump referred to huge stock market losses on his watch as a mere “pause” on Tuesday morning in a tweet in which he claimed Democrats will cause it to go down.
Trump touted stock market gains since Election Day 2016 even though he was not president until January 2017 and the fact that the stock market had already been breaking records during former President Barack Obama’s time in office.
But the stock market has not been doing so well since Trump began obsessively starting trade wars with tariffs against our allies and China. In fact, last Wednesday saw the Dow Jones drop 600 points, wiping out all gains made in 2018. This is far from what winning looks like.
But Trump downplayed the losses as a “pause” before claiming that Democrats to tank the stock market is given control on Congress in November and even dragged out his tired claim that Democrats want to turn America into Venezuela.
The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders!
— Donald J. Trump (@realDonaldTrump) October 30, 2018
It’s a desperate tweet from a man who has presided over stock market losses that can be directly tied to his policies, and the worst is far from over according to experts.
During his first year in office, Trump constantly bragged about the stock market every chance he got but soon stopped bragging about once it began taking tumbles. And now he thinks he can fool Americans into thinking this is just a “pause” caused by the midterms instead of his disastrous trade wars and tax cuts for the wealthy.
Twitter users mocked Trump in response.
Someone is clearly worried about the stock market and America’s flailing economy.
— Timbo Resists (@TimFaulkner_81) October 30, 2018
I think this is what he meant: pic.twitter.com/lP2cbdUjfP
— Verne Houston (@VerneInEarnest) October 30, 2018
YTD.. the stock market is down. That’s almost an entire year – zero gains.
— The Wiseman Said🗨️ (@TheWisemanSaid2) October 30, 2018
Wrong. The market is reacting to your tariffs, which hurt the economy, & Republican supply-side economics (tax cuts for corporations & the rich) which increase our national deficit, also hurting our economy.
You either don’t understand economics, or you’re lying.#VoteBlue
— Captain Truth (@TruthTeamOne) October 30, 2018
.#Trump has finally realized the market goes up AND down. He takes the credit when it’s up & blames others when it’s down. He and Repubs control everything. If the markets are down all year & in correction it ain’t Dems who are to blame. VOTE DEMOCRAT #2018Midterms
— Andy Ostroy (@AndyOstroy) October 30, 2018
No, what’s happening is, your little #TaxCut stunt…which was designed to give a false bump to the market just in time for midterms, but will end up being a disaster for middle income (and lower) families AND the #NationalDebt…is wearing off sooner than your “experts” thought!
— Jim Stanek (@staneknyc) October 30, 2018
Stock market is down for the first time annually in 10yrs thanks to your trade wars and and failed attempt at short term tax games. Thanks for reversing the Obama progress.
— Tony Yi (@yitiger13) October 30, 2018
When do you expect the impeachment process to begin? pic.twitter.com/aRxESXZV8P
— sci (@Rickg0329) October 30, 2018
Trump constantly takes credit for stock market and brags about it.
Well, it’s currently down 2,174 points from late January 2018, a drop of 8% from that peak. The Dow is even 312 points *lower* than the day that Trump signed the tax bill into law.pic.twitter.com/RqfdrMnlto
— Alamo_on_the_rise (@AlamoOnTheRise) October 30, 2018
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