The stock market and the economy are not the same things, but they are often correlated. The President’s Tweets, on the other hand, frequently correlate with neither truth nor facts.
During the first year of Trump’s term, the Standard and Poor’s 500 Index* increased by 22%. That’s good. As I write today, the S+P is down over one percent partly due to threatened tariffs on Mexico. At 2,760, the market is below where it was in mid-January of 2018 (figures from https://ycharts.com). The annualized return over his 29 months as President is now 9.7%. By comparison, the annualized average return during President Obama’s eight years in office was 18%. During President Bush 2’s two terms, it was 0%!!
“Greatest Economy in our country’s history,” NO, not even close. Since his infamous tariff Tweet on May 5th the S+P is down 6%. Trade wars are rarely a good thing, and Americans (not China and Mexico) will pay the price for a policy that is supported by few economic leaders of either party. In addition, he is flirting with disaster by antagonizing Iran. Investors don’t like global political instability either.
Unemployment is still at an all-time low and Gross Domestic Product is good, but wages have not significantly increased. Trump’s Stupid Tax Law has not created the new, well-paying jobs it promised. It has reduced federal revenue and expanded the deficit significantly while further enriching the Super-Rich.
This guy took a thriving economy, rode its coattails for a year, and then implemented policies that threaten the worldwide economy and the stability of the world. Donald Trump has my vote for worst president ever.
*It should be noted that the S+P 500 Index, which you cannot invest in directly, is made up of the largest 500 American companies. S+P is not the same thing as “the stock market.”
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