Tuesday, November 05, 2019

Amid Record Stock Gains, the Trump Economy Is Raising All Boats

If Wall Street is worried about impeachment, it has a funny way of showing it.

Charles Gasparino at the NY Post highlights the good news against the din of derangement:
"The Dow, the S&P and Nasdaq set new records Monday, buoyed by strong corporate earnings, a possible trade deal and the wide-spread belief among sophisticated investors that the US economy will continue to chug along handsomely.

Despite what you hear from doomsayers like the newly minted Dem front-runner Elizabeth Warren, the rising Trump economy is raising all boats, not just the fat cats on Wall Street. At least that’s what the people who have money in the game are saying, and their word counts a lot more than any leftist politician.

Of course, even in the best of times — and according to the data we are pretty close to them now with unemployment hovering at a 50-year-low of 3.6 percent — there are things to worry about."
Always. The only thing constant in this world is uncertainty, but one plans for bumpy rides. Wall Street, also, hates uncertainty. The Fed rate cut last week ain't one of 'em. Benchmark is now 1.5 - 1.75%. Wall Street loves cheap money and it took off like a rocket yesterday. It's like the Obama boom, only better. There's actual jobs and good wages thriving on Main street, in addition to your robust 401K. Meanwhile, Democrats refuse to legislate anything, and piss away millions of tax dollars with a secretive Schiff-face Stalinist show trial in the House dungeon. America is sick of 'em.
"The US economy grew nearly 2 percent last quarter, powered largely by continued strength of consumer spending, which grew solidly by 2.9 percent. People don’t generally spend money unless they’re feeling pretty good about their economic future, and you need more than the top 1 percent feeling good to accrue consumer spending growth like we now have.

In other words, the rich may be getting richer in the Trump economy, but so are most others."
Yup. Recession worries are so Summer 2019, much to Democrats’ dismay.

Related: Suppose they gave an impeachment and nobody cared?