Democrat leaders pulled no punches in slamming President Trump on the economy during the second night of the Democratic National Convention.
Here’s where it gets awkward.
Hours before the DNC kicked off, the closing bell on Wall Street displayed a record high for the S&P 500.
The S&P 500 is an index fund which, like the Dow Jones Industrial, tracks a broad range of company performance across the industrial spectrum, ultimately giving an accurate depiction of where the economy is as a whole. That said, it sounds like things are going pretty well.
Here are some of the remarks about Trump’s economy, and a few about COVID-19 from last night’s DNC showdown:
“I know Joe…He was a terrific vice president. He knows what it takes to rescue an economy, beat back a pandemic, and lead our country.” -Former First Lady Michelle Obama
Does the economy need rescuing? Wall Street’s closing bell certainly doesn’t think so.
Michigan Gov. Gretchen Whitmer described Trump as “a president who fights his fellow Americans rather than fight the virus that’s killing us and our economy.”
As of publishing time, 1.66% of Americans have been diagnosed with COVID-19. Of those 1.66%, about 3% have died. That means 0.05% of Americans have died from COVID-19, many of whom were already suffering comorbidities. This is not to suggest that COVID-19 isn’t real, but it certainly is not a situation that is “killing us” as dramatically described by Gov. Whitmer.
“The future of our economy is at stake.” – Senator Bernie Sanders (I-VT)
Agreed, if Sanders has anything to do with the economy it will be at stake.
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“It’s about a person. A person decent enough, stable enough, strong enough, to get our economy back on track.” -Christine Todd Whitman
My 401k makes me quite happy with the track our economy is on.
Meg Whitman of Quibi said that Trump “has no clue how to run a business, let alone an economy.”
Trump is a billionaire who has seen successful growth in the stock market, national employment, and bipartisan legislative initiatives related to industrial performance. Love him or hate him, the numbers are what they are and they certainly indicate that he knows what he’s doing.