A day after it was reported that he ordered his former attorney to lie to Congress, President Donald Trump went on Twitter Saturday morning and claimed that if Democrats impeach him, the U.S. economy would be irreparably harmed and the stock market will crash:
The Economy is one of the best in our history, with unemployment at a 50 year low, and the Stock Market ready to again break a record (set by us many times) – & all you heard yesterday, based on a phony story, was Impeachment. You want to see a Stock Market Crash, Impeach Trump!
— Donald J. Trump (@realDonaldTrump) January 19, 2019
As usual, Trump’s “facts” are incorrect. The stock market under his so-called leadership has not gone up as much as it did under his predecessor, Barack Obama. As Quartz reported in October of last year, two months before the market had its worst showing in a decade:
“The S&P 500 is up 20% since Trump’s inauguration … At this stage in his presidency, the market under Trump has performed more strongly than just about every other modern president over the same period. Every president, that is, except Barack Obama.”
CNBC had this to say about the market’s performance under Trump at the end of December:
“For the quarter, the S&P 500 and Dow plunged 13.97 and 11.8 percent, respectively, their worst performances since 2011. The Nasdaq plunged 17.5 percent in the period, its biggest quarterly fall since 2008.”
The reason for the market instability we’ve seen under Trump can be blamed on his foolish trade war which has led to massive losses by U.S. businesses and farms.
Trump was reminded of those facts by others on social media:
Rethink this, orange man. The economy improved under Hitler, but that doesn’t mean he was a good leader. Any good that has transpired under your administration is entirely negated by your frontal attacks on human rights. #wenis
— Jeffrey Guterman (@JeffreyGuterman) January 19, 2019
The stock market has fallen tremendously over the past few months because of your trade policies and the fear people have in the fact that we have a mad man running our country and trying to control the federal reserve.
— Ed Krassenstein (@EdKrassen) January 19, 2019
FACT CHECK: Trump thinks so little of his base that he keeps lying to them even on issues easily checked. The stock market in January 2018 was 26,500. Today it’s at 24,700. That nearly 2000 drop was all Trump and his Terrible Trade war and inept managing of our economy. pic.twitter.com/f9LtsjUsIh
— (((DeanObeidallah))) (@DeanObeidallah) January 19, 2019
I’m willing to take a dip in my 401k to pay for a POTUS Perp Walk. That’s the kinda parade I would stand in the cold to see.
— Mike (@images_mc) January 19, 2019
Featured Image Via NBC News
