Trump Points the Finger at Biden for Stock Market Slump, After Claiming Credit for Previous Gains
Facts don't matter in the post-fact Trumpverse.
The battle over the stock market's performance rages on between former Presidents Joe Biden and Donald Trump. On Wednesday, Trump blamed Biden for the recent downturn in the markets, as key U.S. indexes edged toward losses following a disappointing economic report.
In a social-media post, Trump declared that the market’s struggles are a result of “Biden’s Stock Market” and need to rid the economy of the "Biden Overhang." He went as far as to claim that the slump “has NOTHING TO DO WITH TARIFFS.”
LOL!!!
But that’s a head-scratcher—since the biggest contributor to the economic contraction was a surge in imports as businesses rushed to stock up on goods ahead of Trump’s own tariffs. Classic case of his own policies biting back.
A year ago, the tune was much different. Trump was proudly taking credit for the rising market during his 2024 campaign, calling it the “TRUMP STOCK MARKET,” claiming it was fueled by investor optimism over his re-election chances. Fast-forward to today, and his latest statements reveal the same story: it’s either his win or Biden’s loss.
Despite the import surge distorting GDP numbers, experts are cautious. Peter Graf from Nikko Asset Management Americas pointed out that businesses are clearly preparing for tougher times by reducing hiring and investment, fearing a looming policy-driven recession. However, Graf suggested the GDP report wouldn't force the Trump administration to de-escalate its trade battles just yet.
Source: MarketWatch
Classic sociopathic behavior: Truth doesn’t matter, you say what makes you look good and the other guy look bad, and you believe your own bullshit.