Donald Trump, often obsessed with being an historic president, felt the squeeze yesterday when the Dow Jones average had the most significant one day point loss in its history, losing 1,175 points. This morning wasn’t much better, with the Dow falling by about 567 points.
The obvious connection here is that since Trump never hesitated for a moment to give himself credit for a “soaring” economy, he should in theory look weak. While Trump fanboys try to rescue his chickpeas from the fire by referring to the event as a “false financial flag,” it makes you wonder how long he can sustain this anti-reality bubble. Much like the fast and furious government shutdown not that long ago, Democrats recovered in part because congressional squabble was short-lived. When an overly-politicized segment of reality starts to go in an unflattering direction, allowing the blame to remain with the opposite party is viable. I mean, this is a little bit more difficult when you’ve gone out of your way to take credit for an unpredictable beast. Still, it’s doable. If the negative trend continues, it will be increasingly more difficult for Trump and the GOP to place the blame onto Democratic shoulders. After all, they are in the minority when it comes to governing.
Let’s not get too cocky, though. Trump has sidestepped reality for over a year, more than that if you include the fiery campaign trail. Even if the markets continue to dip, many Trump supporters look to their own news sources which are loathe to suggest that any blame should rest with amateur-economist-in-chief.
Also, just as importantly, the Dow could rebound. A day or two of volatile trading doesn’t a diminished president make.