The stock market had a bit of a down turn on Monday with drops as large as 1600 points, and the Dow finally closing down nearly 1200 points. However, Fox News host Sean Hannity isn’t blaming Trump. Oh no! It’s President Obama, who has been out of office for more than a year, that is to blame for the fall.
How could Hannity possible think that the decrease has anything to do with Obama? Because of “cheap money.” Referring to a Fox "News" analysis, Hannity said, “because the Obama economy was so weak all of these years, we had just artificially cheap money.”
The drop, which likely negates all the gains made so far in 2018, is actually good though, according to Hannity claiming, “The government has artificially, the Fed has artificially, kept the price of money down and the price of borrowing down, and now that’s going to come to an end.”
The argument is absurd, however, because as soon as Trump took office last year, he and Hannity believed he took over the economy. Trump took credit for the stock market gains...over and over and over again. However, more than a year later, and a dip in the numbers suddenly equals “Obama’s fault.”
You can listen to Sean's lunacy in the clip below:
For more on Hannity’s bizarre blame game read, "Sean Hannity blames Obama for historic market crash" published to Media Matters on February 5, 2108.