Trump: Don't pay attention to all the numbers. Look at Walmart. They're doing great!
President Donald Trump has a new standard for judging how well the economy is doing, at a time when banks, economists, and virtually everybody is saying a recession is headed our way.
Trump used to talk about how great the stock market was doing, but after it just had its worst day in 2019, the president now wants you to focus on how much money Walmart is making as proof the economy is great.
"Walmart, a great indicator as to how the U.S. is doing, just released outstanding numbers. Our Country, unlike others, is doing great! Don’t let the Fake News convince you otherwise."
You just can't make this stuff up, people.
The media is now at fault for the poor economic numbers?
Trump has a real problem on his hands here. He's going to have a tough time making people believe he's not responsible if the US does, indeed, head into recession. He's spent almost his entire presidency taking credit so it'd be an odd time to stop.
Yesterday Trump was yelling about the "crazy inverted yield curve!" and claimed that America was "winning, big time" even though the market was crashing. He blames the Fed, not himself or his trade policies with China.
"Our problem is with the Fed. Raised too much & too fast. Now too slow to cut… Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!”
Trump may never take responsibility but it doesn't matter. All the talk about Walmart doing great is not going to keep things from going into the shit can, no matter how much he screams.