So Donald Trump likes to brag about the stock market. A lot.
Which is funny because this would be the same stock market that just a little over a year ago, he called “artificial.” That’s the way this works. If he can take credit for it, it’s real. If he can’t, it’s “fake” and “phony.” Just ask Sean Spicer:
See how this works?
Of course Trump is right. The stock market is “artificial.” And he was also right to suggest that Janet Yellen was in large part responsible. But the problem – obviously – is that you can’t have it both ways. It can’t be bad to have an artificial stock market last year and good to have an artificial stock market this year when the only thing that’s changed is who the President is.
Well this morning, Trump was back at it with his stock market bragging. You already know what he said, but in case you missed it:
As we wrote earlier, it is patently absurd to say that the media isn’t covering the stock market. Record high stock prices are plastered all over every mainstream media outlet, every single day. In fact, he retweets screenshots proving just how much coverage it’s getting all the time. So he’s constructing a straw man — he’s telling his base (a lot of whom probably don’t pay attention to the stock market) that no one is talking about it in order to perpetuate the “fake” media narrative.
But here’s the other thing. He’s misleading people when he claims or otherwise suggests that what we’ve seen in markets during the 11 months after his election is somehow “unprecedented.” Here, look:
“Virtually unprecedented, huh?”
We suppose that depends on how loosely you define the word “virtually.”