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‘Trump knows the economy can make or break him’: CNN’s Erin Burnett breaks down why the president fears the Dow slide

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On Wednesday’s edition of CNN’s “OutFront,” anchor Erin Burnett broke down President Donald Trump’s seeming panic over the day’s 800-point Dow stock slide — and what it means for his case for a second term.

“Trump took to Twitter, sending nine tweets about the economy, including trying to spin the plunge in interest rates into a positive,” said Burnett. “The president tweeting ‘Tremendous amounts of money pouring into the United States. People want safety!'”

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“Well, the president is right about this. Money is pouring into U.S. Treasuries,” said Burnett. “But that, as he well knows, is not a sign of strength tonight. That is a sign of deep recession fears. The lower the yield on benchmark Treasuries, the lower the interest rates, the higher the fear of economic crisis. And today the 30-year yield fell to its lowest level in history.”

“Markets also afraid of Trump and China’s trade war. And Trump took that head-on today too. The tweet ‘We are winning, big time, against China.’ Well, only time will tell on this. But as for winning right now, Trump’s war with China is hurting the United States, big time.”

“Trump knows the economy can make or break him. He knows this all too well,” said Burnett. “Just listen to Trump.”

“Last year, for the first in a decade, the United States was ranked the most competitive economy anywhere in the world,” said Trump in a clip.

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“I made the economy so strong that nothing is going to stop us,” he said in another.

“Our country now has the hottest economy anywhere in the world,” he said in yet another.

“That’s not what the markets are saying tonight,” said Burnett. “And so Trump is blaming someone else, one of his favorite bogeymen, Jerome Powell for the market freefall. Another tweet moments ago: ‘China is not our problem, though Hong Kong is not helping. Our problem is with the Fed.’ Why blame China when you could blame someone in the United States?”

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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2020 Election

He’s trying ‘to get under Trump’s skin’: Reporter Olivia Nuzzi outlines Joe Walsh’s impact on 2020

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Republican strategist Shermichael Singleton explained during an MSNBC panel discussion that former Rep. Joe Walsh isn't likely to peel away many voters from Trump as someone who is "Trump-light." New York Magazine reporter Olivia Nuzzi, however, thinks Walsh with have a more significant impact, whether or not he can win the primary race.

During a CNN panel discussion, Nuzzi similarly noted that Walsh's primary purpose could be to troll the president.

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CNN

Boris Johnson ‘tremendously humiliated’ Donald Trump on a global scale at G-7 meeting: CNN analyst

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United Kingdom Prime Minister Boris Johnson was one of President Donald Trump's favorite people to take over for Theresa May when she resigned this summer. But Johnson also mocked the U.S. president and humiliated him on a global scale, said New York Magazine reporter Olivia Nuzzi.

During a panel discussion on CNN Sunday, CNN's Ryan Lizza opened by saying that Johnson is in a tight spot as he's trying to negotiate Brexit while serving as an international leader to the G-7. Johnson also needs to negotiate a trade deal with Trump, but he clearly is going about it in the worst possible way.

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CNN

‘That’s total nonsense’: Bill Kristol punches Santorum right between the eyes on Trump’s failing trade policy

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CNN contributor Rick Santorum said he was personally offended on Sunday after conservative writer Bill Kristol attacked President Donald Trump's trade policy.

During a segment about Trump's trade war with China, Kristol noted that the president seems "demoralized" and "depressed."

"His economists have told him privately we're slowing down and we're at some risk of toppling into a recession," Kristol explained. "His political people have told him his numbers are going down not up."

The conservative writer pointed to Trump's racist attacks on black lawmakers as one mistake he has made.

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