For most of his presidency — when it came to the economy, at least — Donald Trump was like a toddler sitting in one of those car seats with a fake Fisher Price steering wheel that made him think he was driving.
Now he’s like a rabid Ebola monkey set loose in the cockpit of a commercial airline.
All he’s actually done since becoming president is lay down economic landmines, and now they’re starting to explode.
Since this tweet, the S&P is down 18.9%. pic.twitter.com/ICCr8oEruP
— Carl Quintanilla (@carlquintanilla) December 24, 2018
Today’s 2.71 percent drop in the S&P 500 came courtesy of Steven Mnuchin’s weird statement about calling all the big banks and Trump’s idiotic ranting at the Fed chair he appointed:
The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!
— Donald J. Trump (@realDonaldTrump) December 24, 2018
For the record, the standard definition of a bear market is a 20 percent decline from a recent high. On September 20, the S&P 500 closed at 2,930.75. Today it closed at 2,351.10. That’s a 19.78 percent decline.
We’re right on the cusp of another Trump economic miracle.
This is a Creative Commons article. The original version of this article appeared here.