Stock market crashes to worst December since Great Depression, and Trump says economy is strong
This is officially the worst start to a December for the stock market since the Great Depression - and that's not hyperbole.
Both the Dow Jones Industrial Average and the S&P 500 both are on pace for their worst December performance since 1931.
So, what does Donald Trump do on the same day CNBC talks about doom and gloom? He decides to tweet about how strong the U.S. dollar is doing compared to other countries. It's almost as if the economy inside the president's head is different than the outside world.
What's particularly notable about December's numbers is that this is typically a strong month for markets, but it's not. The question is why? Some think this is further proof that the economy is headed towards its next recession.
And - by some - we mean a whole lot of CEO's.
134 business leaders at the Yale CEO Summit, including those from Ford, Verizon,and Morgan Stanley took a survey and almost half of them thought that the US could face an economic recession by the end of 2018. For more on that, visit HERE.
Here's what this means for Trump's presidential campaign....not good.
If the economy does, in fact, hit a recession by 2020, Trump will become the first incumbent president since Jimmy Carter in 1980 to run for re-election in such circumstances. We all know how that turned out for him.
Back to Trump's tweet: Based on what Trump said this morning about the Fed and his advisor Peter Navarro's comments today, it looks like the only finger-pointing Trump can do is to blame the Federal Reserve.
"We have zero inflation for all practical purposes" and strong economic growth, Navarro told CNBC's Rick Santelli. "The only argument I'm hearing for the Fed to raise rates now is somehow they have to exert their independence."
Navarro said that "Trump's instincts are always right on this."
If they don't further raise interest rates, and the economy still collapses, Trump will have almost no one to blame.