President Trump is right – After he won the 2016 Presidential election the markets went absolutely wild!
President Trump tweeted from Japan overnight that the markets ‘went up massively’ after he won the election –
The Stock Market went up massively from the day after I won the Election, all the way up to the day that I took office, because of the enthusiasm for the fact that I was going to be President. That big Stock Market increase must be credited to me. If Hillary won – a Big Crash!
— Donald J. Trump (@realDonaldTrump) June 28, 2019
Far left intellectuals and Nobel Prizing winning economists like Paul Krugman from the far left liberal New York Times warned that the sky was falling after the Trump win. He claimed the markets would collapse with a Trump Presidency. He could not be more wrong. He wrote that day after the Trump win that the markets will never recover –
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
The far left biased Krugman went on to make two more shocking claims – one true and one utterly false and ignorant. He stated that under Obama America has “been doing O.K. only thanks to extremely low interest rates.” This was true. Next Krugman made a horrible prediction stating “we are very probably looking at a global recession, with no end in sight.” What a dopey and horrible prediction.
The stock markets are major indications of an economy’s strength. They include valuations based on past and current financial data and company and market data. The markets also include expectations for the future.
The US Markets have been on fire since the 2016 election because President Trump won –
On November 8th, 2016, the markets closed at 18,333. Yesterday the markets closed at 26,600. That’s a 45% increase in the DOW since the 2016 election!
* President Trump is the only President in US history to oversee two stock market rallies of nine days or more where the DOW set new highs each and every day.
* On February 28th, 2018, President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row!
* Then in early August of 2018 President Trump reigned over a 9 day stock market rally with each day reaching record highs.
* The DOW daily closing stock market average has risen more than 40% since the election on November 8th, 2016. (On November 9th, 2016, the DOW closed at 18,332 – yesterday the DOW closed at 26,600).
Since the 2016 Presidential election, the DOW reached record highs an amazing 103 times. There were more stock market highs (71) in 2017, Trump’s first year as President, than any year in history.
The fastest 500 point increase between major milestones in the DOW (i.e. between 25,500 and 26,000) occurred on January 17, 2018. The DOW increased 500 points and surpassed 26,000 for the first time ever six days after the DOW surpassed 25,500 on January 11th, 2018 for the first time.
The fastest 1000 point increase, 2000, 3000, 4000, 5000, 6000 and 7000 point increases in the DOW in major milestones have all occurred since President Trump became President as well.
The DOW had its best day in history under President Trump. On December 26th, 2018 the DOW was up more than 1,000 points (1,086) in one day for the first time ever!
The DOW increased the most points in a single year under President Trump when it grew 4,956 points in 2017.
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So how does this compare with President Obama’s first few years in office?
* The DOW daily closing stock market average tanked (went down) (-31% ) between Obama’s election win on November 4th, 2008 and March 5th, 2009. (On November 4th the DOW closed at 9,625 – on March 5th the DOW closed at 6,594. Overall it decreased more than 3,000 points during this time). The markets had no way to go but up after this time and they did increase but at a sluggish rate.
Obama never saw a new stock market high his entire first term (his first 4 years in office). This was in spite of Obama receiving beneficial treatment from the Fed who kept rates at near 0% for most of Obama’s eight years in office.
No doubt the markets would be much higher for President Trump if the Fed hadn’t increased rates multiple times whenever a new market milestone was reached.
The Fed kept rates at zero percent for most of Obama’s time in office. One thing Krugman was right about above was that the only thing that kept the economy going under Obama were the low interest rates. Obama’s recovery was the worst since the Great Depression.
As soon as President Trump won the 2016 election, the Fed began to increase rates radically.
Each time there were new stock market highs due to Trump’s policies of lower taxes and a massive decrease in regulations, the Fed stepped in to kill the rally. The Fed’s insane policies at a time of no inflation have slowed the stock market rally, impacted hard working American’s 401k’s and increased the US debt by a couple trillion dollars!
President Trump knows this too –
….Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!
— Donald J. Trump (@realDonaldTrump) June 24, 2019
Trump is right. The Fed is a horrible idea gone wrong! In spite of the Fed’s left leaning political actions to stop the great Trump economy, the economy is on fire. Trump economic team leader Larry Kudlow knows it –
We're killing it on the economy! 🔥 pic.twitter.com/hme0eihP9c
— The White House 45 Archived (@WhiteHouse45) May 3, 2019
Trump is right. The economy and the markets are on fire. Let’s hope and pray for a Fed realization that it works for the American people and not globalist bankers. The Trump economy has no where to go but up!
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