All we’ve heard from sniveling neo-com Democrats for the past year and half is that Donald Trump is not the right person for America and that only their socialist agenda will help the nation’s economy and thus help the world’s economy.
If that is true, then explain why the Dow Jones has climbed a record high of 5,000 points this year, something that has never happened in the history of the nation. Unemployment is low, more people are working, which means more people are paying taxes and spending.
Not only is the US economy and stocks soaring to new record highs, but it’s also having a positive impact on the global economy and stocks as well.
(ZeroHedge) -Global stocks and US equity futures roared upward to new record highs to start the second-to-last week of the year, boosted by optimism over a Republican agreement on the shape of U.S. tax cuts aimed at lifting growth; incidentally this is the 6th consecutive day that the “tax bill” has been priced in by the market, and according to cynics, 6th consecutive week and/or 6th month. Meanwhile, the dollar dropped and Treasuries headed lower.
World stock markets have surged this year, for the most part on constant expectations of tax reform passing, which is expected to boost corporate profits but mostly trigger share buybacks and higher dividend payouts, to the tune of over $1 trillion. The benchmark MSCI World index rose 0.41% on Monday to hit a fresh record high, putting it on course for its best year since 2009.
In overnight cross-asset developments, it was a low-volume session as traders close out the year, which saw the dollar fall against most G10peers Monday alongside Treasuries as focus remained on Trump’s tax measures. The pound climbed ahead of a speech by PM May. While core euro- area bonds were little changed, peripheral debt from Italy and Spain climbed. Portugal’s bonds rallied, with 10-year yields sliding to the lowest since April 2015 after Fitch Ratings raised the country’s credit ranking two notches to investment grade late on Friday. Portugal’s 10Y bond traded decisively below its Italian equivalent on Monday. The last time it did so for a sustained period was in early 2010. “There is very much a shift in the architecture in the European government bond market,” said DZ Bank rates strategist Daniel Lenz…
Last year, after Trump won the election, I recall one prominent Democrat saying that Trump’s economic policies would bankrupt the nation and throw our economy and the world economy into another serious recession and possible depression. That same Democrat is still criticizing Trump’s tax plan and policies even though the economy is responding even better than Trump had predicted.