On January 30, 2019, President Trump tweeted:
Dow just broke 25,000. Tremendous news!
— Donald J. Trump (@realDonaldTrump) January 30, 2019
He apparently forgot that he had celebrated the same milestone in January of 2018:
Dow just crashes through 25,000. Congrats! Big cuts in unnecessary regulations continuing.
— Donald J. Trump (@realDonaldTrump) January 4, 2018
Maybe he should have taken to Twitter to advise people to sell their stock and move all assets into the family checking account, where the money is safer and the rate of return about the same. I bring this up now only because yesterday the Dow opened at 25,270, dropped almost immediately to 24,681, and then spent most of the afternoon crisscrossing the 25,000 line, first headed one direction and then the other, before a rally in the last hour of trading brought it to a close at 25,409. As far as I know, the president did not tweet about the surging Dow, which today stands right where it was 26 months ago.
Everyone agrees that "the stock market is not the economy," so it's sort of odd that Trump seems fixated on it—the more so since his fixation has evidently left in his mind no imprint of any details. He's going to run on it, however. And why not?—2020 is the third year in a row that the Dow has blasted past the 25,000 mark! If it gains a couple hundred points on Monday, it'll prove that the coronavirus is a hoax. No one can get sick if the market is up.
The graph at the top shows how the S&P 500 has done during some recent presidencies. Trump has a way to go to match the best Republican performance.
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