MSNBC host Ali Velshi said, in passing, that comparing the stock market to one year ago reveals it has only gone up by about 1 percent.
President Donald Trump has bragged about the stock market since he was elected in 2016, but that has tapered off as the markets seem unstable during his trade wars.
He posted a tweet on June 20 bragging about the S&P 500 index closing at a new high. The day before that, he boasted, “since Election Day 2016, Stocks up almost 50 percent.”
The reality, however, is that the market has budged very little in the past year. By contrast, under Obama, the S&P 500 grew by 56.4 percent, the Dow Jones Industrials Average was up 50.6 percent and the Nasdaq, 92.9 percent, Fortune reported.
Pundits and economists have said that the beginning part of the Trump administration was still operating under the success of an Obama economy. As the economy moved further into Trump’s first term, however, it’s developed a kind of limp. The first 14 months of the Trump presidency were filled with market gains. Since Trump began passing laws like the Republican tax bill and set out on his trade war, the upswing has slowed.
The first big drop of the stock market under Trump occurred early in 2018. Before that, Trump bragged about the market once every 35 hours.
Watch Velshi in the video below:
Large fires in Philadelphia — as police scramble to save City Hall
Protests in the City of Brotherly Love resulted in multiple police cares being lit on fire as windows were broken in the town's iconic City Hall.
Anti-police violence protests have erupted across America following the killing of George Floyd while in police custody in Minneapolis.
Here are some of the scenes from the Philadelphia protests:
Trump Tower is ‘under siege’ as Chicago Police make arrests to defend the president’s building
Protesters marched on Trump Tower in Chicago on Saturday, as Chicago police in riot gear and on horses defend the president's building.
State police were deployed to the scene to back up local police, who are reportedly arresting protesters.
On video showed protesters taking a knee in solidarity with Colin Kaepernick.
Actor John Cusack was among those documenting the protest.
Here are some of the images from the scene:
George Floyd’s brother tears up discussing condolence phone call from Trump: ‘It hurt me’
The brother of George Floyd described the condolence phone call he received from President Donald Trump during a Saturday interview on MSNBC.
Philonise Floyd was interviewed by the Rev. Al Sharpton on "Politics Nation."
While Derek Chauvin has been arrested and charged with third degree murder, the other three officers involved in the killing remain free.
"They all need to be convicted of first degree murder and given the death penalty," Floyd said.
"What was the conversation with President Trump like?" Sharpton asked.
"It was so fast," Floyd replied.
"He didn't give me an opportunity to even speak. It was hard, I was trying to talk to him, but he just kept like pushing me off, like 'I don't want to hear what you're talking about.' And I just told him I want justice. I said that I couldn't believe they committed a modern-day lynching in broad daylight."