Ali Velshi calls BS on Trump's so-called amazing markets: 'We're about one percent up from this time last year'
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.
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Watch Velshi in the video below:
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