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Commentary

Liberals Rave About Dow Jones Falling... Overview of The Past Year Says Something Entirely Different

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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:

https://twitter.com/EdKrassen/status/960619796890079232

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However, there was one thing that they forgot: just how the Dow Jones has done over the past year.

 

Do you think the Dow Jones will rebound from Monday's losses?

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.

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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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C. Douglas Golden is a writer who splits his time between the United States and Southeast Asia. Specializing in political commentary and world affairs, he's written for Conservative Tribune and The Western Journal since 2014.
C. Douglas Golden is a writer who splits his time between the United States and Southeast Asia. Specializing in political commentary and world affairs, he's written for Conservative Tribune and The Western Journal since 2014. Aside from politics, he enjoys spending time with his wife, literature (especially British comic novels and modern Japanese lit), indie rock, coffee, Formula One and football (of both American and world varieties).
Birthplace
Morristown, New Jersey
Education
Catholic University of America
Languages Spoken
English, Spanish
Topics of Expertise
American Politics, World Politics, Culture




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