Quote:
Originally Posted by Got Stripers
What is irritating to me is that Trump inherited a growing and pretty healthy economy, but with every bump in the stock market, he never once missed an opportunity if a mic was in front of him to take credit for the stock market rise. Now that it's lost over a year's worth of gains, now I'm down 8% after yesterday's continued down-slide, he isn't mentioning the stock market at all. He loves taking credit for what he hasn't controlled and he shuts his mouth (tough for him to do remember that) when it isn't going so good.
|
It's not clear at all that the economy he inherited was growing or even healthy. I forget which thread I posted a video by an economist who explained charts of various economic indicators which showed the Obama economy was fairly stagnant after a slow improvement of the economy he inherited. And rather than growing, the indicators predicted a downward trend. And that there was a dramatic spike upward after Trump that could not be explained by trends that were developing before he came to office.
I'm no student of economics and am uncomfortable getting into its weeds. I don't know what a President can do to seriously affect the economy except via taxes and regulations. Whether anything Trump has done has helped the economy or not, it has steadily improved in dramatic ways after the tax and regulation cuts, rather than the few intermittent spikes which didn't last under Obama.
But anything can happen to crash the economy again. Presidents are in peril of being blamed for poor economies, not just praised for good ones.
The stock market, in my uneducated opinion, is even less under the thumb of the President. So, yes, Trump is foolish, if not stupid, to have taken credit for the high stock prices. And when they keep dropping he'll have serious egg on his face. And many think that a larger correction is due.