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Dow hits 22,000 for the first time ever and Trump takes Credit
2017 Aug 2, 9:06am 3,566 views 15 comments
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BayArea
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2017 Aug 3, 7:20am
Investor confidence is an incredible force for the economy. Funny how Obummer could never inspire much of that, despite his elitist mien.
Odd, didn't the stock market double under Obama?
No, you forget to mention that he sank it to 66XX in his first two months in office - March 2009 😛
lostand confused
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2017 Aug 3, 7:34am
I got out of most of my holdings. Have one big dividend payer and took a position in Ensco-an oil driller-which is sitting at a loss. lets see how much this goes up?
Shaman
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2017 Aug 3, 9:57pm
Overall, the market rose 166.3% between Obama’s first day in office and the close of trading Thursday, his last d
Much of that, say the first 100% or so, happened in the first year because the market was in an utterly predictable bounce back after a severe over correction. After that it was eight years of a slog to get out of recession.
I don't really think the POTUS had much to do with either phenomenon, but Obummer kept trying to put the brakes on with tens of thousands of new regulations to make Americans less competitive, while selling out American jobs through guest worker fraud and incentivizing outsourcing, all so the labor market would continue to be soft.
Who cares how great the DOW is when you don't have a decent job?
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With the Dow rising to reach a new milestone, Trump tweets this:
"Stock Market could hit all-time high (again) 22,000 today. Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!"
The thing is the Dow is advancing because of strong quarterly profits thanks to globalism and a weak dollar. This is encouraging job growth as well which, in turn, creates more consumers.
Why The Stock Market's Rise Isn't Just A Trump Rally
The pro-business economic polices Trump wants to implement are indeed a factor, but the question remains, can he actually get those done without imploding?