As the Dow Jones Industrial Average continues to slump downward, conservative media outlets have scrambled to defend President Trump, blaming everything from the “deep state” to President Obama.
The White House’s cheerleaders at Breitbart News gave the news their own unique spin this morning, claiming that the Dow Jones slumped because the economy was thriving too much under the Trump administration.
John Carney, Breitbart economics and finance editor, told Alex Marlow on “Breitbart News Daily” this morning that the last year “was almost a weird exception” to a pattern of periodic stock market turbulence in that it “pretty much just went up.” Carney said that slumps like the Dow Jones experienced are why presidents should not take too much credit for a successful stock market.
“It’s a really dangerous thing to spend too much time taking credit for the stock market going up because, yeah, it’s going to go down eventually,” Carney told Marlow. “And it can go down, as we’re seeing this week and last week, it can go down because the news is too good. So it’s a really dangerous thing to take too much credit for.”
Later in the program, Trump-loving Las Vegas radio shock jock Wayne Allyn Root joined the show and reinforced the idea that the Dow fell because the economy is simply too good under Trump. Root claimed that the Dow had to fall, because otherwise the economy would have suffered “incredible euphoria.”
“They’re putting, purposefully, headwinds in front of what they admit is a very strong economy—like a freight train—because the inflation’s coming because things are too good,” Root said, before explaining that anyone who claims they can predict the stock market is a liar. “All I’m saying is, things seem to be cratering and the reason everyone gives is they expect inflation. Well, the reason they expect inflation, Alex, is because things are too good under Trump. Isn’t that ironic? Too good, too many good economic indicators.”
“There needs to be headwinds or we’d be heading into a period of just incredible euphoria, and that’s why they predicted inflation,” Root said.
When the stock market is going up, Trump obviously deserves all the credit. When the stock market is going down, the deep state obviously deserves all the blame. pic.twitter.com/Ue7yd23DY2
— Right Wing Watch (@RightWingWatch) February 6, 2018