Trump Fails At Economics Comprehension During Hilarious AM Rant

0
1240

Another manic Monday morning means more insane Twitter rants and rapid-retweets from president Tweeter-in-Chief, Donald Trump.

Trump is on a roll this morning tweeting about oil overseas in China and Japan (“& many other countries likewise”), and how unfair it has been to the United States. Then there are the rampant Federal Reserve tweets, seen below.

‘Despite a Federal Reserve that doesn’t know what it is doing – raised rates far too fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in US history…

‘….Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!’

In 2019 American politics, the president tweets and he tweets a lot. Long gone are the days of official statements in writing, or live from the White House-type recorded messages that air straight into our country’s households. Don’t get us wrong, he has done this type of thing before, Exhibit A below, but he has ditched traditions that have long lasted with presidents that came before him.

Here is my statement.I’ve never said I’m a perfect person, nor pretended to be someone that I’m not. I’ve said and done things I regret, and the words released today on this more than a decade-old video are one of them. Anyone who knows me, know these words don’t reflect who I am.I said it, it was wrong, and I apologize.I’ve travelled the country talking about change for America. But my travels have also changed me. I’ve spent time with grieving mothers who’ve lost their children, laid off workers whose jobs have gone to other countries, and people from all walks of life who just want a better future. I have gotten to know the great people of our country, and I’ve been humbled by the faith they’ve placed in me. I pledge to be a better man tomorrow, and will never, ever let you down.Let’s be honest. We’re living in the real world. This is nothing more than a distraction from the important issues we are facing today. We are losing our jobs, we are less safe than we were 8 years ago and Washington is broken.Hillary Clinton, and her kind, have run our country into the ground.I’ve said some foolish things, but there is a big difference between words and actions. Bill Clinton has actually abused women and Hillary has bullied, attacked, shamed and intimidated his victims. We will discuss this more in the coming days.See you at the debate on Sunday.

Posted by Donald J. Trump on Friday, October 7, 2016

Like the statements presidents used to regularly make from the White House and/or it’s Oval Office, markets react to tweets as well, it seems. Earlier this year Trump seemed to “move” markets following his tweets on Iranian sanctions and ongoing unrest in Libya.

From Forbes:

‘Similarly, threats from Iran to close the Straits of Hormuz (more accurately, threats from an Iranian official) might be shrugged off as empty verbiage, just as President Trump’s tweets often are, but that makes little difference—in the very short term. President Trump’s comments were simply a trigger for bulls to sell off. And with falling prices, there was apparently a lot of “long-covering,” that is, traders with long positions that needed to be closed out, by selling into the market, which made the downward price move that much sharper.’

He’s been on a roll about the Federal Reserve, particularly in the past few weeks.

From Reuters:

‘The U.S. president has repeatedly accused the Federal Reserve led by Chairman Jerome Powell of undermining his administration’s efforts to boost economic growth and has repeatedly demanded that rates be cut.

‘The U.S. Federal Reserve last Wednesday signaled interest rate cuts beginning as early as July, saying it is ready to battle growing global and domestic economic risks as it took stock of rising trade tensions and growing concerns about weak inflation.’

People on Twitter were quick (as they always are) to call out Trump’s tweets. Many stated that his advice is laughable, especially considering his spotty record as a businessman.

Here are some of the best replies:

Featured image via Youtube screenshot.