Trump Falsely Claims ‘Markets Up Big’ Despite Worst December For Stock Market Since Great Depression

market

President Donald Trump once again tried to gaslight America over the economy on Tuesday morning by claiming that markets are “up big” while whining about the Federal Reserve raising interest rates.

Trump’s economy is is a serious slump right now that threatens to turn into a recession, but he insisted on Twitter that the economy is soaring and would continue to do so if the Fed would keep interest rates at zero.

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First, it should be pointed out that Trump’s election in 2016 had nothing to do with the markets breaking records. That was already happening under the Obama administration along with low unemployment rate and record jobs numbers that continued after Obama left office.

In fact, the stock markets did so well because of Obama’s policies that the Dow Jones reached nearly 27,000 points by this past October before Trump’s trade wars and tax cuts for the wealthy began to take their toll. By the end of 2018, the Dow had shed 6,000 points, suffered it’s worst December since the Great Depression and it’s the worst year of earnings since 1972.

The current slide has nothing to with the Fed, but Trump continues to bully and blame them for it.

And despite the job numbers for December, the unemployment rate actually ticked up to 3.9 percent from the 3.7 percent it had been previously. And let’s just take a moment to note that by the time Obama left office in January 2017, the unemployment rate had already dipped to 4.8 percent, which means the rate under Trump has only briefly moved a full point after two years and actually went up again.

Twitter users rained down facts and mockery.

If this tweet is any indication, it’s clear that Trump is going to lie his ass off on Tuesday night when he delivers an immigration address from the Oval Office. Networks had best be ready to fact-check because while fact-checking Trump’s tweets are easy to do, it will be much harder to keep up with his lies in real time.

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