Reporting on one of Donald Trump’s Saturday tweets — where the president darkly warned that the stock market would collapse if he is not re-elected — a financial reporter for Bloomberg slyly pointed out that Trump financial successes since he became president are “middling” — and that his predecessor was more successful.
According to Bloomberg’s Roz Krasny, “President Donald Trump, gearing up for the official start of his 2020 campaign, warned that the U.S. would face an epic stock market crash if he’s not re-elected,” noting his tweet stated, “The Trump Economy is setting records, and has a long way up to go….However, if anyone but me takes over in 2020 (I know the competition very well), there will be a Market Crash the likes of which has not been seen before! KEEP AMERICA GREAT.”
The Trump Economy is setting records, and has a long way up to go….However, if anyone but me takes over in 2020 (I know the competition very well), there will be a Market Crash the likes of which has not been seen before! KEEP AMERICA GREAT
— Donald J. Trump (@realDonaldTrump) June 15, 2019
Pointing out that Trump has tried to scapegoat the Fed over interest rates for keeping the market from booming, Krasny noted how the markets are doing under the Republican president who has roiled markets with his trade wars.
Doing so, she noted that former President Barack Obama — and Bill Clinton for that matter — had a better track record.
“Research by Macrotrends shows the Dow Jones Industrial Average’s performance so far in Trump’s term has been middling compared with his predecessors, and trails the gains made under Democrats Barack Obama and Bill Clinton,” she wrote before adding. “It’s a touch above the gains logged under Republicans Ronald Reagan and George H. W. Bush; George W. Bush had presided over a losing market at this point in his first term.”
You can read more of her analysis here (subscription required).