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With the Dow Jones in the last 5 days losing all the value it had gained since November, Trump has issued a statement saying that just as he was fully responsible for the gains he must therefore accept full responsibility for the losses.
What influence does a president really have on stock market?
Little. That’s why Trump’s silence at its fall despite gloating about its rise tells anyone with a brain who we’re actually dealing with.
Not directly, but indirectly though govt policy is a sure way. Lets just say if the US markets were v poor and unemployment worse (than under former Pres Obama who won a Nobel prize) then we would have heard about it from the usual media outlets.
Exactly. Government policy has a huge impact on business activity. The president only matters if he can change policy, like Trump did with his recent tax reform.
Pou your memory is embarrassingly short. In the first presidential primary Trump said the market was a fat ugly bubble, and during Obama’s term Trump cited a particular fall as obviously due to Obama. All this despite the all ords steadily rising since 2009. It you’re OK with rank inconsistency, all power to you and your echo chamber
I'm fine with inconsistency from politicians. It's what they do - messaging and propaganda. But when nobodies I interact with on the internet spout b******* I'll call them on it. Bubbles are part of normal economic activity, as are crashes. What matters is long term trends, and in the 12 months Trump has been president the market has been excellent, even factoring in the recent correction.
And your dismissive 'steadily rising' b******* is intellectually dishonest. In the eight years from 2009 until Trump's presidency the Dow Jones (All Ords are Australian) rose about 13000 points (1600-odd per year). In the 12 months since Trump took power it has risen over 4000 points. Prior to the recent correction it was actually up 6000 points. Of course there was a bubble.
The point is we need to look at the market across the length of Trump's presidency, not just one day, one week or even one year. But one year is a more reliable indicator than one day, like the anti-Trumpers are crowing about. Especially when that one day followed 12 months of incredible gains.
If you didn't buy stocks until the day Trump was elected you are still well up on the bloke who bought in the final three years of Obama's reign and then sold when Trump won.
Pou ... FAIL.
Trump is behind Clinton and Obama for gains in S&P 500 annualized returns, even though Trump leads for most months in a row with gains. Which anyone could guess means a bubble. And then there was a correction.
If your going to pick a measure on which to say Trump wins, at least cherry pick the measure successfully. Don’t you think the quest to say everything Trump touches turns to gold is a bit like political over-compensation?