Speaking of not being able to see through the rhetoric...
Everything you mentioned about a thriving economy began BEFORE “the orange guy on Pennsylvania Avenue” took office, and is not really a result of any of those few policies he has managed to get in place.
We give far too much credit...and blame...about the economy to the guy sitting behind the Resolute Desk in the Oval Office.
While I do agree with your last sentence, the rest of it has many holes.
Yes the economy is cyclical and the actions of one are often not seen until another is sitting in office.
However, the economic numbers under Obama were pretty woeful. ESPECIALLY considering he stepped into office just as the economy and stock market were close to bottoming. And that “dip” was one of the most severe recessions this country had had for quite some time.
Economy growth is almost always higher coming off a recession. The deeper the recession the bigger the bounce back in most cases.
Yet that didn’t happen. And didn’t happen despite MASSIVE government stimulus. Now that stimulus and artificially low rates did accomplish something and that was huge stock market rebound that’s been taking place since 2009.
But that was the Feds doing not Obama. Further, the regularity environment over those years was not business friendly. And I’m being kind using those terms. So while the economy recovered, it really did so at an anemic pace.
And by Nov. 2016 equity markets were already in the second longest bull market in history and running out of steam.
So no, that 20-30% market surge we have gotten was not a result of previous policy. Markets took off the day after the election and 2017 was literally one of the least if not the least volatile year in equity markets in history. Matter of fact, the S&P 500 only moved up or down 1% or greater something like 7 or 8 trading days ALL YEAR. Yet still had approx 20% return.
By comparison, we’ve had 32 such moves this year already and like 33 in 2016.
That low volatility last year was a result of confidence due to the pro-business environment.
And wouldn’t you know it, the Econ data is stronger too.
So if it was a result of Obama’s, why did the economyvwait till the oranage man was sitting to show stringer signs of life?
Respectfully Jeemie, I have a degree in economics and have dealt with matter professionally for the past 19 years. I could spend the day tearing apart your post but I have a rather busy day in the office and well, people don’t like it much when I do.
So I agree in theory with your last sentence but that doesn’t nearly apply to what has been taking place since 11/08/2016