Like this ostrich, Donald Trump prefers to hide from reality.

The selloff  of the stock market today follows Monday’s sharp decline as the president tries to make a closing argument with voters that rings hollow.

Trump’s argument for his re-election makes no sense. 40% of Americans don’t have $400 in the bank for emergency expense says the Federal Reserve.

But for discussion:
Closing words of Donald Trump at the second presidential debate. “We are on the road to success. But I’m cutting taxes and he wants to raise everybody’s taxes. And he wants to put new regulations on everything. He will kill it. If he gets in, you will have a depression, the likes of which you’ve never seen. Your 401K’s will go to hell and it’ll be a very, very sad day for this country.”

For perspective the average 401(k) balance is $92,148, according to a 2019 Vanguard analysis of over 5 million 401(k) plans issued by the company. But most people don’t have that amount of retirement savings. The median 401(k) balance is $22,217, a better indicator of what the majority of Americans have saved for retirement. That is not enough to buy a car.

The S&P 500 reached a peak of 3544.71 on October 12 but today it has dropped to 3295. The Dow slides more than 800 points today. My 401K investment is in a fund based on those averages. How about Apple shares? Down 10%.

Donald Trump is out of touch with most Americans. Most of us are concerned with sufficient income to put food on the table, pay the rent, the car payment, and affordable health care.