President Trump of Trump University, Trump Steaks, Trump Casinos, Trump Marriages, Trump Pussy-Grabbing, Trump Child Cages, etc., just put another marker down in his long-running track of economic acuity and science literacy (save, any literacy).
Someone get this paint-huffing buffoon a 25th Amendment…
NYMag.com breaks this whopper down:
Last night, President Trump made an attempt to reassure the public on the state of the economy. It was not very reassuring. His answer implied that, however low your assessment of his grasp of the economy beforehand — and mine was already extremely low — the president knows even less than anybody thought possible.
Here is Trump’s answer:
Well, look, we were set to hit 30,000 on the Dow. This is a number that nobody even came close to. And already we have the number. And even though it’s down 10 or 11 percent, it’s still the highest it’s ever been, by far. It certainly might have an impact. At the same time, I have to say, people are now staying in the United States, spending their money in the U.S. — and I like that. People are now staying in the United States, spending their money in the U.S., and I like that. I’ve been after that for a long time.
This string of sentences is like an onion of stupidity, and peeling back each layer revealed even more stupidity lying beneath. Let’s go through it step-by-step.
“Well, look, we were set to hit 30,000 on the Dow.”
The answer begins veering off course immediately. The prompt for his answer was “the state of the economy.” Trump replies by citing the Dow Jones Industrial Average. Of course, the stock market is not the same thing as the economy, and the Dow Jones Industrial Average is not even the same thing as the stock market. (It is the oldest measure of stock performance, but not the best.)
“At the same time, I have to say, people are now staying in the United States, spending their money in the U.S. — and I like that. People are now staying in the United States, spending their money in the U.S., and I like that. I’ve been after that for a long time.”
Here is where the answer goes truly off the rails. Trump’s mental model here is that America loses money when Americans travel overseas. Forcing them to stay here means they stop spending money at the Eiffel Tower and start spending it on Disneyland (or perhaps one of the many fine luxury properties operated by the Trump Organization). […]