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Seth Cotlar @SethCotlar
, 7 tweets, 4 min read Read on Twitter
With the Dow Jones down 2% over the past 12 months, thought I'd look back at Trump's tweets about the stock market over time.
Lesson 1: When markets go down it's always connected to who the President is, but only when that President is Obama.
Lesson 2: Back in 2011 he complained about the Fed's low interest rates when he wasn't President, now he berates the Fed to keep rates low.
Lesson 2a: He's not very good at predicting inflation.
Lesson 3: As any market watcher will tell you, never make confident predictions in public about what the market will do unless you want to look like an idiot.
Lesson 4: That tax cut which the @gop passed a year ago which was supposed to goose the economy and the stock market? Yeah, not so much, at least as of today.
That last one seems pretty significant. Imagine pumping $1.5 trillion into the economy with a tax cut, and having the stock market be down 2% a year later. Nor does wage growth seem to have been impacted by the @gop's signature (only?) legislative accomplishment.
Enormous caveat for this thread: I'm a historian, not an economist. I know how to read charts and I understand basic economics...and that's all this is based on. But from what I see (and what "many people" I know are saying), I worry the #TrumpRecession might be heading our way.
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