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Originally Posted by oldschoolcalgary
its pretty funny though... remember when trump was campaigning and never mentioned the positive jobs reports and the growth of the Dow under Obama? just wait until the market flattens or declines and he'll be disavowing it...
i am certainly no economist, however, considering Trump has passed zero legislation, the rise of the economy has simply continued a trajectory established by Obama.
Has the 'confidence fairy' simply began pumping up the Dow in the hopes of Trump's policies (mainly cutting regulation and tax cuts) will further stimulate the economy? Probably... however, this is still speculation, and therefore a bubble if the increases in the Dow aren't based on "real" growth as opposed to an "expectation" of growth.
i've personally thought the DJIA was a pretty poor metric, on its own, to determine economic growth, since its primarily a measure of individuals with financial liquidity looking to park their cash somewhere that provides a healthy financial return... Those individuals generally are not a reflection of the average citizen however...
the democrats didn't win a 3rd consecutive government because the average citizen felt like they were losing the american dream, measured on their financial realities... this was despite the DJIA hitting all time highs in the last year of Obama's administration... This is why Trump's campaign to "Bring back jobs" was so successful...
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Yup, remember in 2008 when the economy was the only issue. Romney said that if he were to become president he'd get the unemployment down from 8% to 6%. What's unemployment when Obama left? 5.7%. Republicans have no argument but they kept trying and people just don't buy it. Trump took them in another direction.