This past Sunday, failed human and openly corrupt acting president Donald J. Trump tweeted thusly:
Now, even though he's worth in excess of TEN BILLION DOLLARS, Trump's understanding of the economy is about as sophisticated as Ivanka's understanding of plastic surgery. He has no clue how it works; he just knows it makes him look good to all the drunks hanging out at Denny's after bar-closing time.
It makes sense that Trump thinks the economy is doing well just because he was elected president. It jibes with his own experience. One fine day he was born and, hey, right out of the gate he was rich. It must have been because he was so good at business.
Of course, now that he's in office, he's cherry-picking every scintilla of positive economic news he can find and crowing about it — just as he seized on every bit of negative economic news he could find when Obama was president.
But the truth is, the economy he inherited from Obama was so robust the Fed was compelled to raise interest rates in December a full five months before Trump claimed to have invented Keynesian economics. The unemployment rate was also just 4.8 percent when Obama finished his second term, compared to 7.8 percent when he was first inaugurated amid a severe economic crisis that saw the nation shedding an astounding 598,000 jobs in just one month.
This is worse than being born on third base and thinking you hit a triple. It's more like watching a teammate who batted ahead of you hit a walk-off home run and then bragging to reporters in the locker room that the awesome homer you just hit is the longest ever in the history of baseball, period.
But since Trump is so impressed with the performance of the stock market since he was elected, he might be interested in this number: 235 percent. That's the increase in the S&P 500 during Obama's tenure, which compares to a 12.4 percent increase since Trump's election and a mere 7 percent increase since Trump's inauguration. And the stock market's performance under Trump comes before he's reinstituted the magical economy-boosting policies of George W. Bush. Let's see where the market is when he leaves office.
So if an increase in the stock market during your tenure makes you a great president — as Trump appears to be claiming — then Obama is among the greatest ever.
By the way, even with plenty of good economic news for Trump to distort and rip out of context, he still can't resist outright lying about the stock market. The energy sector is not "way up," unless you mean it's up over where it will be when Trump is finished turning our thriving, energy-dependent economy into a barter system based on the exchange of iodine tablets and conch shells. It's actually down modestly since the election.