From a CNN Money story in January; “With that in mind, it may be tough for stocks to enjoy nearly as explosive a rally under Trump in the next four (or eight) years as it has during Obama’s tenure. The Dow has gone up more than 140% since Obama’s inauguration in January 2009.” and credits Obama with a share of the credit-etc. Now the stock market hits an all time high-hitting 2200…..CNN Headline “Note to President Trump: The stock market has hit an all-time high in 30 of the last 54 months” (never mind that none of those are any longer all time highs-lol) and from the New York Times “The Stock Market Has Gone So High, It’s a Problem.” And I could list so many more.
I don’t know how many times the stock market performance when doing well was directly quoted as evidence of Obama’s superior economic acumen. I’m not an expert on the stock market but in my opinion the catalyst that is the biggest wild card is psychological. Anticipation of tax reform particularly with corporate tax structures is a favorable business climate. All changes in the stock exchange are dependant on just one thing: people’s decisions-and they are basing them on how they perceive something-I’m no Dr. Phil. So one is left to ponder yet another quandary from the left; if the stock market is too high….and Trump can’t take any credit for it-if the stock market hits the canvas, will Trump be absolved of all guilt? Of course not-it would all be his fault…..but then wouldn’t that be a positive for the president if the stock market was too high? The key to winning in the media is making sure you are the only player, that way all parameters and variables are in your favor. Good can be bad, bad can be good, temperature goes up-global warming, temperature goes down, global war…..climate change! And the beat goes on….