Trump: Strong jobs data, yet the stock market is falling, and high interest rates are the culprit.
1 hours ago
Trump released a post stating: "We just got outstanding jobs data. The market should rally given our improved credit and economic conditions, but as has been the case over the past 25 years, the stock market is falling anyway. This is because we live in a false reality where if things go well, we must 'kill it' out of 'fear' of inflation. It should be the opposite, and that is how things operated until 25 years ago. If we cling to this theory, we will never achieve the real economic prosperity our country deserves, because every time we perform well, foolish people immediately want to halt this positive upward momentum. Growth does not cause inflation! This morning, as soon as I saw these strong jobs numbers, I knew the market should have skyrocketed, but instead it dropped. Our GDP growth rate should be 15% to 20%, not 2%, 3% or 4%; the U.S. should be far more financially robust than it is now. Debt should be repaid, and all sorts of other benefits should be realized. Remember, every one percentage point increase in interest rates costs the U.S. $650 billion annually. We should adopt the lowest interest rates in the world, because we keep everything running and bring massive economic wealth to countries that might otherwise be struggling!"
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