-President Trump has been
freaking out about the possibility of a recession. For more on this,
it’s time for “A Closer Look.” [ Cheers and applause ] ♪♪ If there’s one thing Trump
loves to brag about, it’s the stock market. He talks about it constantly,
and by talks about it, I, of course,
mean he lies about it because he lies
about everything. I would say lying for him
is as natural as breathing, but he’s not great
at breathing either. -[ Panting ] [ Laughter ] -In fact, this week
the “Washington Post” published an exhaustive study that found
that as of August 5th, Trump made over 12,000 false or
misleading claims as president. Which means that Trump said
something false about once every three hours
on average. Once every three hours,
that means he has to wake up in the middle of the night
just so he can get his lies in. -“Russia’s a witch hunt.” [ Laughter ] [ Applause ] How does he even keep track? He must have like a Fitbit
for lies. Like a — like a Fib-bit “Oh, no. I need to get my 10,000
lies in. I better hold a rally.” [ Laughter ] Trump’s apparently told so many
lies that if he never told a lie ever again in his life
he would still have average 8.7 untrue claims per day over
the span of his first term, even though, under this
imaginary scenario, he hasn’t said anything untrue
in more than a year. First of all, let’s just bask
in that imaginary scenario where Trump hasn’t said anything
untrue in more than a year. I mean, imagine what his rallies
would be like “Folks, people are coming
to the border and they’re seeking asylum,
which is perfectly legal. And we should welcome them
because diversity is our strength. Also, I’m terrible —
I’m terrible at golf. [ Cheers and applause ] In fact, Trump gave —
Trump gave a speech on energy to workers in Pennsylvania
on Tuesday, and it was one reporters job to basically sum
the whole thing up. It’s what’s known in politics
as the pool report. And here is the actual
White House pool report summing up Trump’s speech. “In a 60 minute speech,
that at times resembled a campaign rally,
the President meandered through several topics, meaning
have little to do with energy. He talked about trade,
immigration, trucks, emoluments, his 2016 victory,
union leaders, his poll numbers, the media, steel, China, the
amount of money he believes he’s losing as president,
the Green New Deal, windmills, the WTO screwing us,
President Obama’s book deal, Hillary Clinton’s comments
on coal workers, pipelines and New York, Iran,
veterans choice and more. Oh, my God. That sounded like a months worth
of “Jeopardy” categories. I’ll take windmills for $400. The answer, this famous idiot
believe they cause cancer. [ Laughter ] [ Cheers and applause ] Oof. They cause cancer. In fact, one of the lies Trump
told at that speech was about the various lawsuits against
him, including a lawsuit alleging that he is
violating a section of the constitution that
specifically prohibits what are known as emoluments
or gifts from foreign governments. For example, a Saudi-funded
lobbyist paid for 500 rooms at Trump’s hotel
after the 2016 election. Does Trump’s hotel
even have 500 rooms? I just assume there was a lobby,
and if you went upstairs, it was just fake doors painted
on the walls. Now, that seems like a pretty
clear violation of the constitution,
and yet Trump wasn’t concerned about that. He complained instead
about how much the lawsuits were supposedly
costing him. -This thing is costing me a
fortune being president. Somebody said, oh, he might have
rented a room to a man from Saudi Arabia
for $500. What about the $5 billion
that I’ll lose. It will probably cost me,
including upside, downside, lawyers ’cause everyday
they sue me for something. These are the
most litigious people. It’s probably costing me
from 3 to $5 billion. -I don’t believe you’re losing
$3 to $5 billion from lawsuits. I would believe you’re losing
$3 to $5 billion just from, you now,
like being Donald Trump. I mean, you lost $1 billion
in ten years, and that was in
the ’80s and ’90s, when everyone was making money. I mean, back then a little kid
could open a lemonade stand and make enough money
to buy a Bugati. So Trump lies about everything, and the stock market
is no exception. But if you compare his record to
the previous Presidents, it’s not as impressive. In fact, if you look at
the change in the Dow Jones industrial average
over the same period of time, Clinton saw 41.4 percent
increase, Obama saw a 41.7 percent
increase, and Trump has seen
a 30.1 percent increase. So, Trump’s been outdone by
Clinton and Obama, the two presidents
he hates the most. The only way that could be more
embarrassing for Trump is if he did loose
$3 to $5 billion and they had to repossess
his penthouse and rename it Hillary Tower. [ Cheers and applause ] More importantly — more importantly, the stock
market is not the whole economy. In fact, most working people aren’t really invested
in the stock market. It’s mostly just a sign at how
the wealthy few are fairing. In fact, one study found nearly
40 percent of the market is owned by the richest
one percent of the population while bottom 90 percent
of the population owns just 19%
of stock market wealth. Basically, for a lot of people
the stock market numbers in the bottom of the CNN corner
are just something you staring at while
waiting for your flight. It’s like, “I don’t know. I guess green is good
and red is bad. I’m gonna go to the Cinnabon.” [ Laughter ] Trump’s economic policy
has only benefited the elite few to begin with,
and that a recession seems like it might
be on the horizon, he’s freaking out because for
two years he’s been able to coast on the economic tide
left by Obama while ignoring the growing wealth gap,
massive inequality or the shuttering factories in
states he promised to rescue. In fact, Trump is so desperate
for something to brag about that during that rambling speech
in Pennsylvania he touted the Shell plant
that was about to open and repeatedly claimed
credit for it. -This would have never happened
without me and us, this would have never happened. It was the Trump administration
that made it possible. No one else. Without us, you would never have
been able to do this. -There you go. The Shell plant would never
would have happened without Trump.
Just one problem. Shell announced its plans
to build a complex in 2012 when President
Barack Obama was in office. “Oh, it’s been three hours. Better check my fib-bit.” [ Laughter ] I mean, he’s taking credit
for a plant that was announced
when Obama was in office. What’s next? “Do you know I killed
Osama bin Laden? I swear it’s true.
I have — I have a very real photo
to prove it.” [ Laughter ] Trump is freaking out
about the possibility of a recession after spending
2 1/2 years catering the wealthy elite. He doesn’t care about growing
inequality or shuttering factories. We’ve got a lot of problems,
and in many cases… -It was the Trump administration that made it possible. -This has been “A Closer Look.” [ Cheers and applause ]

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31 thoughts on “Trump Freaks Out About the Possibility of A Recession: A Closer Look”

  1. SETH!!! STOP TAKING HOLIDAYS MAN!!! A Closer Look is an everyday necessity for me and many others. Everyday you’re not on is emptier, less funny and a little bit ruined. You having Saturdays and Sundays off is enough!!

  2. We should welcome those seeking asylum, but diversity is not a strength. Divided groups have historically fallen, but that's common sense. The north and south were diverse and it started a civil war. United we stand, divided we fall. We should accept people into our country, so they can adopt a new way of life not bring pieces of a bad life from bad governments. Don't get me wrong, but America is ran by the most despicable people. That's Democrats and Republicans, so I dont see why they want to come here. We can't even fix our own homeless situation. San Francisco wanted to be diverse and know they have record high homeless population, and it's so filthy plagues that haven't been around since the middle ages, are now back in California. So yes we should fix our country first, then invite people in to conform to our society, and not conform society around them. That's just logical.

  3. I really hope the USA has bottomed out with this moron. I kind of think that the only reason that the Dems aren't going for impeachment is that if Captain bone-spurs great brain gets the boot, his successor gets his info from God. I think that hearing voices isn't an improvement.

  4. It just occurred to me that Seth's impression of Trump sounds a lot like Brian Stack as The Interrupter (Late Night with Conan)

  5. Ok im actually asking, where is he getting the idea that we could have a recession, like what article or numbers ect

  6. Look at the actual economic data – despite his nonstop preposterous bombastic BS its been entirely mediocre at best , under trump gdp growth has been averaging LESS than a very mediocre 3% and he clearly has been the beneficiary of linearly increasing (untill trump where there has been increasing volatility) trends since the 2009 turn around. So trump has done zero for the economy and certainly not a wit better than his predecessor except he has totally screwed the agricultural and import/export sectors and yes overall steel production is down despite his lies to the contrary.

  7. DO NOT EVER BELIEVE that the five corporate bankruptcies of Trump's businesses were an accident of administration. Trump is a vile, repugnant human being and an embarrassment to this nation, but he is a shrewd, calculating business man who plans his moves well in advance. All of his bankruptcies were planned and executed carefully over months or even years to allow him maximum profitability.

  8. Seth should have mentioned while Trump et al. want to save taxpayers from helping poor immigrants, they have no problem giving a $1.5 trillion tax cut to the wealthy who wouldn't even notice it if they didn't look at their financial statements.

  9. He IS terrible at golf. Argentinian President Mauricio Macri had to purposefully lose so that his tantrums wouldn’t jeopardise a deal Trump had with Macri’s father.

  10. He IS terrible at golf. Argentinian President Mauricio Macri had to purposefully lose so that his tantrums wouldn’t jeopardise a deal Trump had with Macri’s father. Edit: in the 90s

  11. Please investigate the finances of the liar. He is broke and owe more than 130 Mio Dollar to the bank. Also lying in his tax-documents… The Tax-Documents of the trump-family will be revealed by the Deutsche Bank 🙂 A court ordered this. The link points to the german site – I am sure you can translate it 🙂 https://www.t-online.de/nachrichten/ausland/usa/id_86344028/deutsche-bank-hat-steuerunterlagen-der-trump-familie.html

  12. Is it true that farmers are doing better on government grants than if China bought their products??? I find that hard to believe, but maybe so.

  13. I don't like trump as much as the next guy but it's like this guys whole show is about bashing trump like can we watch TV without hearing trump at all good or bad

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