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Play of the Day: The President And The Economy

After stock market losses, Donald Trump tweeted that the "consumers are in the best shape ever."

With a little more than a month left in the season, former president Barack Obama released his summer reading list on Instagram this week. Late Night's Seth Meyers joked about the news, saying Obama's number one book is called How To Tell Your Friend You're Not Endorsing Him.

The stock market took an 800-point loss loss on Wednesday amid fears that a recession is coming to the global economy. President Donald Trump tweeted his optimism about the economy, writing The United States is now, by far, the Biggest, Strongest and Most Powerful Economy in the World, it is not even close! As others falter, we will only get stronger. Consumers are in the best shape ever, plenty of cash. Meyers joked that Trump's optimism reflected that of the mayor from Jaws. The Tonight Show's Jimmy Fallon quoted a report that said Trump is "running out of tools" to deal with the economy, joking that Trump replied "Not true. I have Eric and Don Jr." Late Show's Stephen Colbert joked that Trump will try anything he's tried before, including "getting a shady loan from Russia" and "selling bottles of Dr. Trump's patented anti-recession elixir."

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