On All In Wednesday, Velshi provided more context:
So, this afternoon as the stock market was tumbling, President Trump was definitely NOT panicking.
As the market was moving lower and lower, President Trump unleashed two tweets where he managed to brag about his trade war with China, lie about the economy, blame the Fed and its chairman, and demonstrate a clear lack of understanding about how global economies work.
To be fair, recessions happen. The United States is actually overdue for one. But given the indicators that a recession could be around the corner, why would the president continue to exacerbate the situation?...
He continues to escalate his trade war with China even after admitting that his tariffs harm American consumers.
Politico reported before Wednesday's big stock market drop that "Instead of blaming the Fed, Wall Street economists are citing Trump himself as the biggest anchor on markets and the economy."
A recession is the last thing Donald Trump wants as he is up for re-election next year.
Senator Cory Booker, 2020 Democratic candidate for president, reacts to the breaking news of a shootout in Philadelphia in which a suspect has injured several police officers, and talks with Rachel Maddow about the collective trauma communities suffer as a result of pervasive gun violence in the United States. (Rachel Maddow)
— Nicolle Wallace on Deadline: White House (Video)
Opinion and Features
OPINION.Stock market drops and China trade woes evoke the trauma of 2008 — but don't panic (yet). The scars from the Great Recession of 2008 run deep. The memory of that fall from the best to the worst of times has locked us into this all-or-nothing view, where every unpromising sign seems like it might set off another tragedy for U.S. businesses, workers and homeowners. But we need to move past that collective trauma, because it's stoking panic and distorting our sense of economic reality. by Evan Horowitz, director of research communication at FCLT Global.
CONSUMER FEATURE. When the market tanks, what should you do? If you're inclined to check your 401(k) or other investment account balances, think again. You may feel an irresistible urge to look at where you are financially. Don't. Dan Ariely, professor of behavioral economics at Duke University, said that is opposite of what you want to do. "Volatility is inherently frightening," Ariely said. "Being frightened means that we are paralyzed, we think about it too much.... It influences our well-being, and it doesn't necessarily lead to good decisions." by Lorie Konish, CNBC
What to watch Thursday
Former Rep. Beto O'Rourke plans to deliver a major address Thursday morning, offering a reset of his presidential campaign and a new focus after the mass shooting in his hometown of El Paso, Texas.
Later Thursday: President Trump heads to Manchester, N.H. from his Bedminster working vacation to headline a "Keep America Great" campaign rally. Several counter protests are expected. We'll bring you the latest, as news warrants.
This newsletter was prepped for you by Cameron Taylor Oakes and Sam Go.