1 Year In, President Trump Defies Critics
Since the day Donald Trump was elected President in November 2016, the DJIA has risen by some 35%, making the last 14 months one of the greatest Bull Market runs in history.
Some $6-T of wealth has been created for Americans.
Very good news for the 55-M Americans with 401(k) plans, the 25-M with IRAs, and another 20-M with company pension plans and employee stock ownership plans.
The left predicted the opposite would happen for the Trump Presidency.
Remember, House Minority Leader Nancy Pelosi saying President Trump’s policies would cause “Armageddon” for family finances, the American economy and the stock market.
Keep all that doomsday bunk in mind the next time you hear a news commentator or political pundit say that “most economists” believe that President Trump’s policies will not work.
When it comes to President Trump’s critics, all have been wrong.
Below are some greatest ‘Bunk’ from the past 18 months, as follows:
1) “Donald Trump’s first gift to the world will be another financial crisis.” Headline in the UK Independent. From the article: “He gives every impression that he will soon be hustling America — and possibly the entire world — in the direction of another catastrophic financial crisis.”
2) “I have no stocks. I advise people not to invest in the stock market, not now. Way too dangerous.” Filmmaker Michael Moore, August 2017.
3) “It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? We are very probably looking at a global recession, with no end in sight.” Paul Krugman of the NY-Ts, the day after the election.
4) “If Trump wins we should expect a big markdown in expected future earnings for a wide range of stocks — and a likely crash in the broader market.” Eric Zitzewitz, former economist with the IMF, November 2016.
5) “Under Trump, I would expect a protracted recession to begin within 18 months. The damage would be felt far beyond the United States.” Larry Summers, former chief economist to Bill Clinton and Barack Hussein Obama, June 2016.
6) “If the unlikely event happens and Trump wins you will see a market crash of historic proportions, I think. … The markets are terrified of him.” Steve Rattner, MSNBC economic talker, October 2016.
And now most BUNK of all!
8) “A President Trump Could Destroy the World Economy” Headline of a WP editorial, October 2016.
The world economy is as strong today as it has been in at least a decade, as The Wall Street Journal recently reported. Now the left has to engage in logical contortions to explain how the red-hot American economy is really a result of Obama policies, every which one Trump has systematically been dismantling.
The Trump Rallying stock market and the surging rate of growth of the economy, now estimated at 3.5%, up from 1.6% in anti-Business Hussein Obama’s last year in office could turn against President Trump in the years to come. It is possible that the market’s optimism over President Trump’s deregulation and tax cut policies have run too far ahead.
We have to wait to see, but we always take what the market gives, Yes?
It is certain here and now that in Donald Trump’s Presidency is that anyone who sold stock on the basis of predictions by Democrat experts Larry Summers, Paul Krugman and Steve Rattner missed out on a 30% run North in their financial wealth.
The Big Q: Would you take financial advice from any of those people?
The Big A: NOQ
As I have said many times in this column since 16 June 2015, Donald Trump, the businessman, knows more about how the economy really works than the talking heads.
I was and am right.