Republican Party's Boast About The Stock Market Gets An Immediate Fact-Check
The Republican National Committee picked an odd time to boast about the stock market.
While the Dow Jones Industrial Average has steeply dropped over the past month, it rallied on Tuesday to post its biggest one-day percentage gain since 1933, when the nation was in the midst of the Great Depression. The jump came amid reports lawmakers were nearing a deal on a plan to boost an economy that’s nearly come to a standstill due to the coronavirus pandemic.
The RNC shared a clip of President Donald Trump bragging about the market, then fired off a boast of its own:
🚨 Dow posts BIGGEST percent gain since 1933 🚨https://t.co/ofzjcTu6lp
— GOP (@GOP) March 24, 2020
But as the RNC’s critics on Twitter were quick to point out, the gain didn’t come close to erasing the massive losses that have seen the market lose about a third of its value and erase virtually all of the gains made since Trump took office in 2017:
Me: gains 500 lbs
Me: loses 30 lbs
Me: “wow pretty tremendous weight loss, I’m in good shape!”— Brendel (@Brendelbored) March 24, 2020
Great sign! 1933 was indeed the beginning of a glorious economic boom!
— Elizabeth Picciuto 🌱 (@epicciuto) March 25, 2020
Lmao
— Molly Knight (@molly_knight) March 25, 2020
This is a record too... pic.twitter.com/nqalSL5y2U
— Winston Smith 🆘💔💔💔 (@gaslightingus2) March 25, 2020
That’s nice. Shame about all the death tho.
— Michael Marshall Smith (@ememess) March 24, 2020
awwwwwwwwww yeah time for some more of those Roaring Thirties
— Max Kennerly (@MaxKennerly) March 24, 2020
Cool now do the month.
— Brian Tyler Cohen (@briantylercohen) March 24, 2020
MORE BLOOD TO MAKE LINE GO UP
— The Guillotine Shouter (@guillotineshout) March 24, 2020
So this is referring to March 15, 1933. Franklin Roosevelt was inaugurated March 4, 1933 and this is right when he was laying out the agenda your party fought tooth and nail and called socialism.
— (((Greg Siskind))) (@gsiskind) March 25, 2020
This is called directionless volatility, and it's an indicator that the economy is broken.
— Schrödinger's Trump: $775 per person per night (@SchrodngrsTrump) March 24, 2020
THIS IS NOTHING TO BRAG OUT DUDES pic.twitter.com/9mSe9vjopD
— Benny the snitch (@Bennythesnitch) March 24, 2020
*COUGH* *COUGH* pic.twitter.com/NyJWUayeab
— Mat Velloso (@matvelloso) March 25, 2020
Called a “dead cat bounce”.
— Gee.Frank🏳️🌈❄️🌊 (@Frank_N_Meems) March 25, 2020
1933
*Googles*
...oh— animal from online (@loggedonanimal) March 25, 2020
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This article originally appeared on HuffPost.