Trump “Magic” Driving Stock Markets, Obama Anti-business Era Over
Nobel laureate economist Robert Shiller of Yale University predicts that the “magic” of President elect Donald Trump can continue to lift stocks to record-high marks.
“We believe that psychology drives the macro economy, and there’s something changing our psychology,” he said in a TV interview Friday.
“We have a business-oriented President who wants to cut corporate taxes, who wants to cut regulations, and who sympathizes with business,”Dr. Shiller said. “It is a good thing for business,” he said.
“Once people start to believe that it is a new era, it could go on for a while, even if it’s unfounded,” since “it’s about human psychology, and it’s what they call self-fulfilling prophecy,” he said.
“Trump does magic,” Dr. Shiller said. “He’s an amazing phenomenon,” he said.
“Donald Trump is the fundamental now,” Dr. Shiller said. “It’s all Trump. He is in charge, and it’s really making a change.”
A “minor correction” looms for the record-setting stock market, but Donald Trump will help the “ordinary investor” as the new President is delivering on his campaign vows to make America Great Again, Peter Morici, a syndicated columnist and economist at the University of Maryland, said Friday.
“I cannot imagine it is going to keep going up like this and then not have a little minor correction at least,” Mr. Morici said of the market’s Bull Run since Donald Trump’s election victory. “Or even a large one. Not permanent, aka healthy,” he said.
There is a lot of good sentiment about the election of Donald Trump because Barack Hussein Obama has been the most anti-business President we have had. He has a visceral dislike for people who have earned good money, though he and his 1st Lady sure know how to spend the US taxpayers money with neveau riche abandon.
|NYSEArca:DIA||197.69||9 December 2016||1.41||196.44||197.72||196.37||4,392,200|
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.45)||Bullish (0.40)||Very Bullish (0.56)||Bullish (0.39)|
Have a terrific weekend.