{"id":292483,"date":"2018-11-20T16:10:00","date_gmt":"2018-11-20T21:10:00","guid":{"rendered":"https:\/\/admin.rushlimbaugh.com\/?p=292483"},"modified":"2018-12-10T21:06:55","modified_gmt":"2018-12-11T02:06:55","slug":"drive-bys-and-democrats-cheer-swooning-stock-market","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2018\/11\/20\/drive-bys-and-democrats-cheer-swooning-stock-market\/","title":{"rendered":"Drive-Bys Cheer Swooning Stock Market"},"content":{"rendered":"

RUSH: The stock market, the Drive-By Media gleefully…I have never seen them so happy, other than on election night. They\u2019re happy the stock market\u2019s bottoming out! They are ecstatic. These people can\u2019t help themselves! They\u2019re gleefully reporting the stock market\u2019s dropped another 400 points yesterday and will probably drop another 400 today, and all of the gains that have been made this year have been wiped out with the stock market decline over the past series of weeks — and especially tech stocks.<\/p>\n

\"\"The tech stocks are taking a huge hit, and the Drive-Bys have mixed emotions on that, because the tech stocks, the FANG stocks… That would be Facebook, Amazon, Netflix and Google –and if you throw Apple in there, then it\u2019s the FAANG stocks. Apple is excluded because they really don\u2019t have much to do with social media, per se. Like Google is the search engine. Apple is a design company that sells innovation in hardware and software. They\u2019re not really a social media outfit, per se.<\/p>\n

In fact, every time they\u2019ve been trying to be one they have bombed royally. They just don\u2019t seem to be able to do it, which is neither here nor there. But Facebook, Amazon, Netflix and Google are having the bottom fall out while Trump\u2019s approval numbers on the economy have gone way up. Gallup reported yesterday that “53% of Americans approve of Trump\u2019s handling of the economy. That\u2019s up three points from their poll conducted back in August.”<\/p>\n

Gallup says, “This mark\u2019s Trump\u2019s best approval rating on the economy ever,” and note that it comes after the election.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Now, back to the stock market for a minute, because this is also par for the course. None of the articles on the autumn swoon of the stock market are blaming Democrats. They\u2019re blaming capitalism in general. They\u2019re not even really trying to blame tech. I mean, Facebook is in the crosshairs right now because Facebook… You want to know what this is really all about with Facebook?<\/p>\n

That big New York Times hit piece on Friday. It\u2019s really about the fact that the rest of the tech and leftist crowd don\u2019t think Zuckerberg worked hard enough to stop Trump in 2016. That\u2019s really what it boils down to. When they say that Zuckerberg didn\u2019t do enough to stop Russian meddling, there wasn\u2019t any Russian meddling, and there wasn\u2019t any Russian tampering with votes. I swear, that hoax…<\/p>\n

\"\"I mentioned yesterday, 42% of the American people — and, by the way, this is not a weird outlier poll<\/a>. This was The Economist\/YouGov. A combination of their polling units here found that 42% of the American people not just believe in collusion, but that the Russians actually tampered with ballots. This is one of the biggest political hoaxes that has ever succeeded to this extent, that 42% of the American people believe when they hear the word “collusion” that Russians actually got in there and tampered with votes and vote counts.<\/p>\n

I don\u2019t know how you fight that. All of conservative media has been, for a period of two years, dispelling the myth of this collusion story, and yet 42% of the American people believe it. It\u2019s traceable back to our having lost the education institution some generations ago. So the swoon of the stock market, Facebook there, and the media\u2019s okay with that. The Facebook plunge, the media\u2019s okay with that because Zuckerberg didn\u2019t do enough to stop Trump in 2016. It\u2019s not that Zuckerberg didn\u2019t get rid of the Russians.<\/p>\n

There weren\u2019t any Russians on Facebook until after the election, per se. It\u2019s that Zuckerberg didn\u2019t use the powers that he had to stop Trump in the first place. But I think, you look at the stock market — and we\u2019ve got historical precedent for this. The media has been predicting a blue wave since last December. The media has been predicting the Democrat Party\u2019s gonna takeover Congress. It was gonna be takeover the Senate. The Democrat Party was gonna get rid of Donald Trump. The Democrat Party was gonna erase all vestiges of any opposition.<\/p>\n

So here we come with Election Day, and they win the House, and I don\u2019t think it\u2019s odd at all that the stock market starts going south with the prospect of Democrats having more power in Washington, and of course there isn\u2019t an article or a discussion on cable news that will ever make this point. The Democrats, the left will never be blamed for anything that goes wrong in the economy. They will only be praised.<\/p>\n

Even Obama sitting there over economic growth of 1.5% was praised for having the guts to tell the American people that the salad days were over and that there was a new reality where you weren\u2019t gonna be able to have much of anything you wanted because you never deserved to have it in the past anyway. America was never that great, never that exceptional, and it\u2019s not now, and get used to it — and Obama was praised for being honest with the American people.<\/p>\n

\"\"Yet the minute Obama was gone, look at what began to happen in the stock market and the economy in general. All during the campaign, we were told, “The stock market loves divided government. The stock market loves gridlock. The stock market loves Washington being paralyzed because that means fewer regulations on the financial industry.” Of course they said just the opposite during the Obama years, when the bad economy was blamed on the divided government and gridlock, not on Obama.<\/p>\n

But I think investors are right to have some fear right now. Look what happened. When the Democrats lost control of the House the last time, back in 2006, they were only too willing to start talking us into a recession in order to try to win the White House. Look what they did in 2004 through 2008. You remember those years? Everybody thinks in those years that it was the media beating up and the Democrats beating up on Bush for the Iraq war, and it was.<\/p>\n

But they spent four solid years talking down the U.S. economy, four solid years trying to convince the American people that the economy was stagnant and falling and in a recession. It took \u2019em four years to get Bush\u2019s approval numbers down into the low thirties. But they did it, and they convinced everybody that the economy was in a quagmire. I remember having people call here (impression), “Hey, Rush, I\u2019m not feeling too good. I\u2019m really doing well.<\/p>\n

“My life, economically, is great. I turn the news and I see everybody else is suffering and (stammering) I\u2019m kind of afraid to, you know, live here the way I can because I\u2019m seeing that so many people are destitute and on the downside.” It wasn\u2019t the case. It was just the news media making it up in an effort to get Democrats elected, which is what is beginning to happen now. It worked. Given the Democrats\u2019 practice of repeating what has worked in the past, why shouldn\u2019t we expect them to try it again?<\/p>\n

Now, yesterday\u2019s nosedive was led by the tech stocks — Facebook, Amazon, Apple, Netflix, and Google — and I might add that all of those outfits are run by Democrat activists, and they are all wealthy beyond your ability to comprehend. These are the CEO and high execs at Apple and the Google guys (Sergey Brin and Larry Page) and their top aides and lieutenants. It\u2019s the same thing at Netflix and Amazon. These people are rolling in more wealth than they know what to do it, and I wouldn\u2019t put it past them to tank things for a couple of years if that\u2019s what they think it takes to defeat Trump in 2020.<\/p>\n

I would not be surprised about that at all, because there\u2019s a history for this kind of behavior. It\u2019s almost like the Federal Reserve raising interest rates! For no reason whatever whatsoever! “Well, the economy is going so well; it\u2019s starting to overheat. We\u2019ve gotta make sure there isn\u2019t any inflation.” So they start talking about raising interest rates, then the media gets stories in the tech sector about how Apple\u2019s cutting back on production; nobody wants the new iPhones. They\u2019re so bad; they\u2019re so expensive. Everybody\u2019s mad at Amazon because they\u2019re too expensive.<\/p>\n

You get just a plethora of news stories ratcheting up the negative, and is it any wonder that it becomes a self-fulfilling prophecy? So they raise interest rates and talk about it at the Fed. Now the tech stops are going south. I can\u2019t tell you the number of people who are in the market for a living who have told me that they wouldn\u2019t be surprised if people with the power to do so, caused the market to tank a bit in the next two years if it would assure them or give them confidence that Trump could be competed undefeated in 2020.<\/p>\n

So this is some of what we\u2019re up against, and I think there\u2019s also legitimate market forces at play here. But I\u2019m telling you that a lot of this is reflecting public attitude, loss of public confidence. And there, if you want to find out why that\u2019s happening, just take a look at the media. As I mention constantly, my hobby is tech and reading about it, and you would not… I mean, the stories on Apple and the new iPhones for the past month?<\/p>\n

\"\"<\/p>\n

If you didn\u2019t know better, you would think that not a single new iPhone has been sold because everybody hates them because they\u2019re way too expensive, that Apple doesn\u2019t know their market anymore, that they\u2019ve produced gazillions more iPhones than anybody will ever buy and now they\u2019ve been forced to really, really cut back production. Inventory is skyrocketing. Nobody wants iPhones anymore. The only iPhones people are buying are two- and three-years old.<\/p>\n

I mean, it is a constant barrage, and it\u2019s been this way now for three weeks — and the other tech, too. Facebook\u2019s getting the same treatment, and Amazon is getting the same treatment for their deal with “Amazon” Cuomo in New York for that deal they made there in Long Island City. And, of course, the Google guys just on general principle being a bunch of fascists. So there\u2019s a barrage of negative news toward the tech sector, and it\u2019s leading the stock market decline, which the media is applauding, because, of course, the media\u2019s job is to “afflict the comfortable and to comfort the afflicted.”<\/p>\n

Of course, the comfortable are the wealthy and the tech stock guys, and the afflicted are their poor customers who are being forced to pay an arm and a leg for their products. “It\u2019s unfair that anything costs anything. It\u2019s just so unfair that you have to pay for things, and the people out there charging for things? Why, they suck, and they ought to be pained and they ought to pay a price!” So there\u2019s this barrage of completely negative news about the economy and specific industries. Is it any wonder that economic indicators here — the stock market, at least — are beginning to lag?<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: They're happy the stock market's bottoming out! They are ecstatic. These people can't help themselves! <\/p>\n","protected":false},"author":49,"featured_media":292495,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[12,1],"tags":[],"yoast_head":"\nDrive-Bys Cheer Swooning Stock Market - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2018\/11\/20\/drive-bys-and-democrats-cheer-swooning-stock-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Drive-Bys Cheer Swooning Stock Market - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: They're happy the stock market's bottoming out! They are ecstatic. 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