Sean Hannity: The Stock Market Plunge is Obama's Fault! Really?
Fox News, like any other news outlets, is slowly going over the edge. Sean Hannity is blaming the current stock market slide on Obama. I wasn't a fan of President Obama's policies by any stretch. However, to say the current stock market slide is Obama's fault is absurd and misguided. In fact, I think he might be drinking the Trump Kool-Aid a bit.
Grant it, we are still seeing a hangover effect from the days of printing money and rock bottom interest rates. However, President Obama has been out of office now for almost 13 months. If the market was truly confident in President Trump's agenda to right the ship, then you would see a stock market with confidence and this current stock market slide will be nothing more than a correction. There all of the sudden seems to be a lack of confidence. The confidence pendulum night have started to shift.
He also said these words about the recent weakness in the stock market: “In many ways, it’s a sign of the strength of the economy more than anything else." That is a stretch. I get where he is getting his conclusion. However, that is a sign of Trump Kool-Aid drinking. The jury is still out on the strength of the economy.
This plunge we are seeing could turn out to be nothing more than a normal correction. As you should know, that happens in bull markets, Mr. Hannity. So, let's not overreact here like the rest of the media.
President Carter caused a mess in the 70's. President Reagan fixed it in the 80's. It is now up to President Trump to do the same thing. The market has been use to the easy money environment. It also knows that the time is coming that it will come to an end. So, none of this is a shock or surprise to the stock market.
The bigger question is this one. What is spooking the market about the economy going forward where a Trump administration does not create confidence?
Mr. Hannity report on what you are good at. God has granted you a gift. Leave the stock market to the Fox Business Channel.