‘It’s not magic and it’s not true’: MSNBC hosts gleefully blow up Trump’s boast he sent the stock market soaring

MSNBC business reporters Ali Velshi and Stephanie Ruhle sarcastically tore apart President Donald Trump's claims that he has set the stock market on a record path, saying his claims are easily disputed and absolutely "not true."

On MSNBC's Velshi & Ruhle, the two hosts took exception with Trump's claim that the rising stock prices during administration have resulted in lowering the national debt -- saying it was nonsense.

"Wrong!" host Ruhle began with a smirk. "The businessman president just flunked a basic finance test. The stock market has nothing to do with the U.S. debt, which continues to go up, not down, despite the president's best wishes. And I want to remind our viewers that there are only two ways to bring down the national debt: either we cut spending or raise taxes. And guess what we're doing? Neither of those things!"

"This is a weird one because either the president -- he's a businessman so he can't not know this is the case -- so the assumption becomes that was deliberately false," co-host Velshi pitched in. "But let's say he didn't know. Let's say he actually thinks that the stock market increasing, which is private money that goes to companies and their shareholders, somehow relates to the debt. Then I don't know what's worse, that he was being misleading or what he didn't know? But either way, this is really serious."

Taking a harder look at the way the stock market is rising, Velshi noted that the climb began after Democratic President Barack Obama took office and, while the stock market is up, it is also up in other countries.

"Take a look at the rest of the world. The stock markets in most other developed countries are up and, in fact, they are all up in the same time period since Donald Trump has taken office by more than America's are," he explained before sarcastically adding, "So, somehow, this magic of Donald Trump is helping the entire developed world's stock market go up."

"It's not magic and it's not true," co-host Ruhle added with a laugh.

Watch the video below via MSNBC: