Donald Trump and his cabal made predictions to scare their pew into voting for them. Most did not buy it. Nor did the stock market at a new high.
Stock Market did not fear Trump election repudiation
The stock market does not reflect the state of the economy for most Americans. But it is the playing field Donald Trump wanted to play on as he campaigned.
The president chose to ignore all the economic, medical, and social ills afflicting the country to define his presidency by the stock market level. He did everything in his power to juice the market, from a deficit-spending tax cut scam to cajoling the feds to cater to the financial sector.
For months, Donald Trump has been going on to any network that would have him to tell the audience that a massive stock market crash would occur if Joe Biden is elected.
Well, as soon as the GSA started the transition process, the market rose to a record. The New York Times reported it as follows.
A day after the Trump administration effectively acknowledged the election of Joseph R. Biden Jr., investors showed their relief by pushing the two major stock market indexes to all-time records on Tuesday.
It was a welcome party of sorts for Mr. Biden, but what investors were really embracing was the end of uncertainty. President-elect Biden has vowed to push for more stimulus to bolster the economy. His selection for Treasury secretary, Janet L. Yellen, is well known from her days as Federal Reserve chair. And several new coronavirus vaccine candidates mean that the pandemic could be under control in the months ahead.
President Trump, who on the campaign trail had warned that Mr. Biden’s election would lead to stock market armageddon, on Tuesday implied that the day’s highs were his own doing, making an unscheduled stop at a White House briefing to play up the latest gains in the Dow Jones industrial average.
Trump’s predictions were almost as accurate as Ted Cruz’s COVID-19 predictions. The clown show continues. Luckily we have less than two months to deal with it.