After spending several minutes breaking down just how often President Trump lies about “everything” Thursday night, Seth Meyers said the stock market is “no exception.”
“If you compare his record to previous presidents, it’s not as impressive,” the Late Night host said, noting that both President Clinton and President Obama presided over larger Dow Jones Industrial Average increases in their first three years in office. But more important, he added, “the stock market is not the whole economy,” calling it more of a “sign of how the wealthy few are faring” than anything else.
“Trump’s economic policies have only benefited the elite few to begin with, and now that a recession seems like it might be on the horizon, he’s freaking out,” Meyers said, “because for two years he’s been able to coast on the economic tide left by Obama while ignoring the growing wealth gap, massive inequality, or the shuttering factories in the states he promised to rescue.”
The president is so “desperate for something to brag about,” the host added, that this week in Philadelphia he repeatedly took credit for a Shell plant that is about open. “Just one problem,” Meyers said: Shell announced plans to build the plant in 2012 when Obama was president.
“What’s next?” Meyers said, breaking into his Trump impression: “You know, I killed Osama bin Laden, I swear it’s true.”
“Trump is freaking out about the possibility of a recession after spending two and a half years catering to wealthy elites,” the host concluded. “He doesn’t care about growing inequality or shuttering factories. We’ve got a lot of problems. And in many cases”—in the president’s words—“it was the Trump administration that made it possible.”