Cha-ching! Have you seen the stock market lately? Record highs over and over. So. Much. Winning.
If you recall, in the last election, the most important issue for voters was the economy. 84% of voters ranked the issue as “very important.” And while the MSM would have us believe the election had to do only with progressive social issues, for most Americans, their livelihood trumps issues that really aren’t impacting them on a day-to-day basis. Let’s face it, we all need to pay the bills.
You may also recall liberals warning that a Trump win would be disastrous for the stock market. World markets were shook the night of the election and Dow Futures did plummet. However, the day after the election, the market soared. Since election night, the S&P Index has seen an increase in market value of over $2 trillion.
While many liberals out there would argue Trump has nothing to do with the success of the markets, when actual financial experts are asked, they give credit where credit is due. I tend to believe them over college aged liberals who continue to skirt personal responsibility and are still residing in their mommy’s basement.
More than three quarters of respondents to this quarter’s CNBC Global CFO Council poll say President Donald Trump deserves at least some of the credit for the stock market’s record run in 2017, with 17.1 percent saying he deserves “most of the credit.”
The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing more than $4 trillion in market capitalization across a wide variety of sectors. The quarterly poll was conducted from Sept.5–13.
The president and other members of his administration have said repeatedly that they see the stock market as a measure of their success. Last month the president tweeted several times about the Dow climbing above 22,000. “Stock Market at an all-time high. That doesn’t just happen,” he tweeted on Aug. 3.
At CNBC and Institutional Investor’s Delivering Alpha conference last week, Treasury Secretary Steven Mnuchin reiterated his own belief that the stock market is a report card for the Trump administration. “The stock market has expectations that we’re going to create significant growth, which is what this president and this administration is focused on. So yes, I take (the S&P 500 record close on Monday, Sept. 11) as a big vote of confidence in the economic plan.”
While the initial stock market bump reportedly was due to President Trump’s promises of tax reform, the CFO’s reported that deregulation will have the biggest positive impact on their companies in the coming year. Trump is helping cut the red tape that businesses find themselves being strangled by. Hopefully, the tax reform will follow and keep this money train moving.
Perhaps having a businessman in the White House was a great idea after all! President Trump obviously is inspiring investors and making us all a little richer in the meantime.
I shudder to think if “she” would have won. More regulation and higher corporate taxes and demonizing success would likely have brought another crash upon us. Scary how close we came to that reality.
I know my 401k is thankful for President Trump and I’m betting yours is too!
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