Liberals Rave About Dow Jones Falling... Overview of The Past Year Says Something Entirely Different
A stock market correction is apparently reason for liberals to celebrate — at least if President Donald Trump is in office.
There was the media, with its smug-lite headlines. “Market mayhem puts Trump in a tough spot,” CNN Money claimed. “Fox News cuts away from Trump economic speech to cover historic stock market drop,” liberal site ThinkProgress reported. Andy Borowitz, the satirist-in-residence at the New Yorker, wrote a piece titled “Trump considers firing Dow Jones industrial average.”
The media had nothing on the reactions on social media, however, with liberals and #NeverTrumpers either responding with joy or dire (oft conspiracy-tainted) predictions about the stock market:
The Biggest Dow Jones point loss in History was 778 points under Bush in 2008, after which it steadily climbed under Obama. Trump's Stock Market shattered this infamous record today as it fell 1178 pts. I expect we will see further declines as the Trump Presidency falls apart.
— Ed Krassenstein (@EdKrassen) February 5, 2018
Trump has in the past expressed his desire for the economy to collapse and has surrounded himself with disaster capitalists. Keep that in mind as you watch the stock market fall. https://t.co/dbunJUaPII
— Sarah Kendzior (@sarahkendzior) February 5, 2018
Impossible. I was very clearly told that Donald Trump has completely turned around the economy and that the stock market would rise forever. https://t.co/78bEkxwVyc
— Rick Wilson (@TheRickWilson) February 5, 2018
However, there was one thing that they forgot: just how the Dow Jones has done over the past year.
Before you lose your mind about the stock market, take in the bigger picture: The 1-year chart of the Dow. pic.twitter.com/6gG4CIeijw
— Dennis K. Berman (@dkberman) February 5, 2018
Yes, it’s true that Monday may have seen the biggest one day drop in the Dow Jones Industrial Average in history, although as a percentage it’s only the worst performance since 2011. According to Fox News, investor concerns centered around fears of inflation, which is partially reinforced by gains in the job market.
However, since Trump took office, the market has seen massive gains, as the chart above shows. In fact, if you go back to election night on 2016, which saw the market panic and retreat to a little above 17,400, the market has been on a consistently upward trend. And not just slowly upward, either — it’s climbed the better part of 10,000 points.
Americans of all stripes have benefited from the upward trend, and corrections have happened during most presidencies. Yet, liberals couldn’t stop reveling in it. In fact, many bought a fake tweet that circulated around social media:
https://twitter.com/ShaunUsher/status/960628825318219776
Sadly, people really thought the tweet was a real thing.
https://twitter.com/FrostpawXV/status/960631672285769728
https://twitter.com/jmdono60/status/960630278237638656
Could someone tell the #MoronInChief it is not "Joans" but Jones ? And yes ; his trickle-down economics, as well as his horrid actions with Asia and the rest of the World have something to do with what's happening to it ! #TrumpUnfitForOffice#RemoveTheFakePresident
— ✨Harry Potter Resists✨ (@HarryPotterMAGE) February 5, 2018
The willingness to buy the “Dow Joans” tweet isn’t just funny., it’s also instructive. Ever since the day Trump announced his campaign in the summer of 2015, those who view him with unchecked enmity have proved beyond any doubt that they’ll uncritically devour anything that makes him look like a fool. Instead, they’ve made themselves look dumb in the process.
No matter what the president’s opponents may say, however, the numbers don’t lie. And the numbers are way up since Trump took office. Where they go from here will be important, but let’s not forget the state the economy was in on the day the president was elected and what’s happened since then — both in terms of the stock market and other indicators.
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