In a stunning turn of events, the U.S. stock market is hitting record highs, while Donald Trump’s media empire, Trump Media, is crashing. This irony couldn’t be more striking, considering Trump’s previous claims during the 2020 presidential debates. Back then, Trump warned the American public that electing Joe Biden would lead to economic disaster, predicting that the stock market would crash under his leadership. However, quite the opposite has happened—the U.S. markets are thriving, and it’s Trump Media that’s experiencing a financial downfall. For Trump supporters and his media allies, especially Fox News, this presents an inconvenient truth, one they are now desperately trying to spin to align with their previous warnings of impending doom under Biden.

Fox News, in its usual fashion, is attempting to paint a different picture, portraying the record-breaking stock market as a bad thing for the American people. In a recent broadcast, Fox hosts discussed the surge in stock prices with a tone of skepticism, suggesting that the market’s current rally might not be sustainable. One host even emphasized that while the market has reached new heights, it’s supposedly “overheated” and overvalued, implying that a correction is inevitable.

This effort to downplay economic success isn’t just about the stock market. Fox News has also criticized the Federal Reserve’s decision to cut interest rates by 50 basis points. Maria Bartiromo, one of Fox’s prominent hosts, expressed frustration, claiming that the rate cut was politically motivated, designed to benefit the Biden administration ahead of the upcoming election. She argued that the move contradicts the state of the economy, which she believes is solid enough to warrant only a modest cut, if any.

Former President Donald Trump himself has also chimed in, further politicizing the Federal Reserve’s decision. When asked about the interest rate cut, Trump hinted that it either signaled that the economy was in bad shape or that the move was purely political, aimed at manipulating public perception. His remarks were a continuation of a long-standing pattern, as he previously criticized the Federal Reserve under Jerome Powell for refusing to lower rates during his presidency—a decision he believed was hindering his re-election chances.

Trump’s allies in the media are taking the same line. Larry Kudlow, another Fox Business host and former Trump economic advisor, labeled the rate cut as an “election gift” to Vice President Kamala Harris, despite the fact that many economists had been calling for rate reductions long before the political season began. Kudlow’s suggestion that the Federal Reserve’s actions are politically motivated is part of a broader narrative pushed by Trump supporters—that the Biden administration is manipulating the economy for electoral gain. However, this perspective ignores the fact that the stock market’s current performance reflects strong investor confidence in the future of the U.S. economy.

What’s even more striking is how this messaging contrasts with Trump’s own public statements. While his media allies decry the economic measures being taken, Trump has been telling his supporters that the stock market is booming because investors believe he will return to power. In one recent video, he warned of an economic crash worse than the Great Depression if he is not re-elected. This is classic Trump: using fear to galvanize his base, even when the facts don’t align with his dire predictions.

Despite these efforts to control the narrative, the reality is that Trump Media’s stock has plummeted by nearly 70% in the past six months. This sharp decline has left Trump supporters in a difficult position, as they grapple with the contrast between the success of the national economy and the failure of their leader’s personal ventures. Imagine if the U.S. economy were performing as poorly as Trump’s media empire—families across the country would be facing severe financial hardship. Fortunately for the American people, the stock market is thriving, and the economy, by many indicators, is on solid ground.

As Trump and his media network continue to push narratives of economic collapse, it’s clear they are struggling to cope with the reality that the stock market is booming without him in office. Fox News, once a reliable ally of Trump, now finds itself in an awkward position, forced to criticize an economy that is performing better than even they had expected. Their attempts to cast this as a negative development reflect their broader fear—that without a suffering economy, Trump’s chances of political resurrection may be slipping away.

In the end, the contrast between the success of the U.S. markets and the failure of Trump Media is symbolic of a larger shift. The American economy is moving forward, while Trump and his allies remain stuck in the past, clinging to old narratives that no longer hold up under scrutiny. As the stock market continues to climb, and Trump Media continues to fall, one thing is clear: the American people are better off focusing on the facts, not the fear.