Dow jumps more than 200 points to 28,000, a new record, posts 4-week winning streak. Now 55% higher than when Trump was elected.
All that newly money created by the central banks to juice the economy has to go somewhere:
FLASHBACK: What Happened on Election Day, by Paul Krugman, Nobel Prize winning economist and leftist columnist for the New York Times, US presidential election night, November 2016. The Dow Jones was at 18,000 at the time.
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
Under any circumstances, putting an irresponsible, ignorant man who takes his advice from all the wrong people in charge of the nation with the world’s most important economy would be very bad news. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, eight years after the great financial crisis.
Our ruling class is so incompetent. Self serving, articulate, and incompetent. Usually wrong, never in doubt.