Each weeknight, Fox News Channel’s Sean Hannity airs a one-hour defense of the Trump presidency, often crediting the president for the stock market’s record-setting highs, as he did in this clip a few months ago:
Hannity is running a scrolling list of “Trump accomplishments,” declares “there are so many, it would take us way too long to read them all” pic.twitter.com/OG4yU8qGNH
— Brendan Karet 🚮 (@bad_takes) November 28, 2017
But after today’s record-setting stock market crash, Hannity is changing his tune, blaming the Dow’s nearly 1,500+ points intra-day plunge, the largest point decline in history, on former President Barack Obama and his so-called “cheap money.”
“Because the Obama economy was so weak all of these years we had just artificially cheap money,” Hannity said on the February 5 edition of Premiere Radio Networks’ The Sean Hannity Show.
“Now what’s cheap money? Cheap money is when you can borrow at ridiculously low rates. The era of cheap money at some point has to come to an end. The government has artificially, the Fed has artificially kept the price of money down and the price borrowing down and now that’s going to come to an end. In many ways it represents; Ashley Webster is the name? In many ways it’s a sign of the strength of the economy more than anything else.”
The Dow closed Monday down 1,175 points, by far its worst closing point decline on record.
The 4.6% drop was the biggest decline since August 2011, during the European debt crisis.