Regardless of his economic policies and whether or not they’ve been at all successful, Trump’s statements prove that any success he’s had hasn’t been because of his own superior knowledge. In fact, he seems to understand very little about how the economy really works.
Since there really is a Trump tweet for every occasion, perhaps this is a good time to review Trump’s tweet from 2011, when President Obama was still in office and had reversed the collapse of the world economy. Trump then predicted doom if the Fed did exactly what he wants them to do now.
The truth is that Trump doesn’t understand the Fed, the economy, the Constitution, or our government. December was one of the worst months on record for the stock market, and Trump isn’t sure who to blame. So far, it’s been the Democrats’ fault for winning the house, or maybe his own Fed chair’s fault for raising interest rates. No matter whose fault it may be, it certainly isn’t Trump’s, as he’ll be sure to tweet about a thousand more times before he finally, blessedly, leaves the White House.
Trump once bragged about the increase in Americans’ 401(k) plans thanks to his brilliance in economics, but those are currently plunging, as well. While only a small portion of Americans benefit financially from owning stocks, many rely on 401(k) plans for their retirement and savings. The interest rate has little to nothing to do with Americans losing that money under Trump.
Twitter was not impressed by Trump’s claims and blaming, either. Read some of their comments below:
Featured image via Flickr by Gage Skidmore under a Creative Commons license
