Twitter Scorches Fox News and Trump for Taking Credit for Obama's Economy

Twitter Scorches Fox News and Trump for Taking Credit for Obama’s Economy

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The big economic news on Friday was that 33,000 jobs were lost in September. It was the first time in seven years that the jobs numbers went negative. Most reports were quick to cite the rash of hurricanes that plagued the nation in recent weeks. However, the job growth statistics throughout 2017 have lagged behind the same time period in 2016.

RELATED: Robert Reich Schools Trump Surrogate on Jobs Numbers: Trump Gets No Credit For This

Trump’s Diversion

It’s no coincidence that Donald Trump and Fox News have been bragging about the performance of the stock market. It’s an easy, albeit deceitful, distraction from the other bad news of the day. Never mind that stocks are currently in the second longest bull market in history and that it started in 2009 under President Obama. Trump has done literally nothing that would change the momentum of Obama’s economy. Not a single economic bill has reached his desk for signature. But that hasn’t stopped him and his propaganda division at Fox News from trying to steal the credit, as demonstrated in these tweets:

The wealth increase that Fox News is touting is based solely on the rise of equities. Not only is it false to describe that as “the nation’s wealth,” it is a fluid indicator that could reverse course tomorrow. Indeed, many stock analysts regard the market’s current position as overvalued. These analysts are predicting a “correction”< that could send the markets down ten or twenty percent. What's more, the soaring stock market does not reflect the economic realities of most Americans. Other economic indicators (i.e. wages) are showing only small advances. The beneficiaries of stock gains are predominantly the usual suspects of the GOP (Greedy One Percent).Some of these discrepancies were observed by the Twitter community, who proceeded to bludgeon Fox for their bullshit. A few of the notable comments follow:

Twitter vs. Fox News

RELATED: 7 Reasons Why Donald Trump is a Dangerous Threat to Blue Collar America

In Conclusion

It’s always dangerous to rely on stock market performance to validate the economy. There are too many factors that can shift investor sentiment. And with Trump’s saber-rattling over nukes with both North Korea and Iran he’s playing with fire, literally. And if that doesn’t sink the markets, then his proposed tax plan, which will benefit only the rich and blow up the deficit, will do the job.

Featured image Jack Gruber/Pool Photo via USA TODAY NETWORK.

Mark Howard is the artist/author responsible for News Corpse, a website dedicated to analysis of the media and the right-wing bias inherent in a corporate-dominated media marketplace. His work has been published by nationally known progressive outlets such as Alternet and Salon. Follow News Corpse on Twitter and Facebook.