It seems like nothing will ever again be the same after the election of Donald J. Trump.
When Obama was swept into office in 2008, he promised that everything would change for the better. America would be more prosperous, the world would finally respect us, and even the seas would stop their dangerous rise because of ‘global warming.’ Each of these became broken promises as the average American struggled to put food on the table, our nation was humiliated before the world, and, well, global warming is a crock.
Donald Trump made promises too. He promised that he would put America First. Not surprisingly, he didn’t back down from this in his inauguration speech, and he hasn’t backed down on it in his first days in office. And Americans are placing their confidence in him. Now the U.S. President doesn’t control the stock market, but his actions to unshackle businesses from onerous regulations and unfair trade deals can make a big difference in the business world’s confidence to invest and grow.
So when a momentous occasion like this happens, it’s time to celebrate—and President Trump definitely had something to do with it.
From the Wall Street Journal:
The Dow Jones Industrial Average just powered through the 20000 level for the first time ever, setting an all-time intraday high three trading days after the inauguration of Donald Trump. Moments after the open, the Dow shot up to 20033.77.
The rally has been dubbed the “Trump bump,” as most of the run higher has occurred since Mr. Trump was elected president on Nov. 8. Investors have been bidding up stocks on the belief that he’ll ramp up infrastructure spending, cut corporate taxes, deregulate industries and give the economy a boost.
The new record comes as stocks have been on the rise for much of the past three months, finding fresh legs since Election Day to add to one of the longest bull-market runs in U.S. history. The Dow industrials closed under 18000 as recently as Nov. 4, but have risen 12% since then.
Those who know Trump’s promises and policies shouldn’t be too surprised with this historic rise, but it is still amazing to see what has happened in the last two months. Dare we say it: can you imagine where we would be with Hillary Clinton in the Oval Office? Does anyone think stocks would be up with promises of higher taxes, more regulations, and a bigger burden on the middle class
Instead America is hearing the unbridled optimism coming from Donald Trump and his team. He is unleashing the forces of a free market economy on America, promising to lighten regulation by up to 75%, drop the corporate tax rate, and drop taxes for all. In the end Americans will make far more and the government will still get the revenue it needs—and he plans to cut wasteful spending as well, and has already made excellent progress in halting the wasteful spending of the Obama administration.
So what do you think? Will the market continue to skyrocket under the Trump administration? Share your comments below!
Source: Wall Street Journal