Reduce our 18 trillion in debt because, believe me, we're in a bubble.
The U.S. stock market hit its low during the recession in March of 2009, and despite
the fact that the stock market has continued to rise Donald Trump insisted
that it and the U.S. economy were in bad shape.
We have artificially low interest rates. We have a stock market that, frankly, has
been good to me but I still hate to see what's happening. We have a stock market
that is so bloated be careful of a bubble.
When Trump announced his
candidacy for president in 2015, he said that he thought the stock market was in
a bubble because the interest rates set by the Federal Reserve were so low.
He made this point time after time on the trail.
We have the worst revival of an economy since the Great Depression and believe
me we're in a bubble right now and the only thing that looks good is the stock
market but if you raise interest rates even a little bit that's going to come
crashing down. The Federal Reserve three times since the election has raised
interest rates but Trump's prediction of the bubble popping did not come to pass.
When candidate Trump became President Trump, his rhetoric about the stock
market suddenly flipped.
I don't think there has ever been a president elected when
this short period of time has done what we've done.
The stock market has hit record numbers.
And you take a look at what's
going on with the stock market
trillions of dollars of value have been created since I won the election.
We've added 3.3 trillion dollars in stock market value.
One just came out,
almost four trillion dollars.
We're doing tremendously well our stock
market just at an all-time high. It picked up in market value almost 4
trillion dollars since November 8th which was the election.
The stock market
has kept climbing in the first six months of the Trump presidency but if
the stock market was in a bubble and artificial before, ready to decline in an
instant, why can't the same critique exist for
the market under the Trump administration? The president can't
explain what's changed so this is a clear flip-flop.