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:
‘We’ve entered a shame-free zone’: CNN’s Sciutto appalled by Trump’s ‘mind-boggling’ G7 corruption
CNN's Jim Sciutto on Friday did not mince words when talking about President Donald Trump's decision to host next year's G7 summit at his own golf course in Doral, Florida.
During a segment about the president's multiple corruption scandals, Sciutto described Trump's G7 gambit as the president "explicitly, publicly steering a taxpayer-funded government contract to [his] own business." He then asked former federal prosecutor Renato Mariotti to comment on why this scandal might get Trump into hot legal water.
Deadly Turkey air strikes shatter Trump’s hours-old ‘ceasefire’ deal
Deadly Turkish air strikes Friday shattered an hours-old US-brokered deal to stop Ankara's military offensive against Kurdish forces in northeastern Syria.
The ceasefire announced late Thursday was meant to provide a pause for the evacuation of Kurdish fighters from the battleground border town of Ras al-Ain and other areas Turkey wants to control along its border with Syria.
The five-day suspension looked designed to help Turkey achieve its main territorial goals without fighting but its Syrian proxies continued to clash with Kurdish fighters Friday and an air strike killed five civilians.
Former Trump pal Donny Deutsch explains the president’s gamble on impeachment
MSNBC's Donny Deutsch has a theory about his old pal President Donald Trump and his latest strategy to wriggle out of trouble.
The "Morning Joe" contributor suspects the president, whom he used to know from their days in New York City, believes impeachment is inevitable, but he's confident that Republican senators won't remove him from office.
"Rev, I'm seeing a little bit of a different show here," Deutsch told the Rev. Al Sharpton. "You and I know Trump pretty well, or used to know Trump pretty well. I don't think there's any chance Mick Mulvaney went out there on his own."
Mulvaney, the acting White House chief of staff, admitted during a press briefing that he held up congressionally approved aid to Ukraine in an effort to press the country to investigate a conspiracy theory about Democrats and the 2016 election.