SmartStops comment: It’s alarming to think that Trump has no senior trained economists in his midst. And that one who has given some advice has been told to keep quiet.
“The stock market is up about 15 percent since the election — despite the considerable turbulence that President Trump has wrought. Sooner or later, goes the thinking, a volatile president will mean volatility for markets…”
The big question is has the stock market gotten ahead of itself? “Trump’s November victory because Wall Street expected a gusher of profits. Tax cuts for businesses would boost profits directly. Tax cuts for individuals would do so indirectly by spurring consumption. Deregulation would slash corporate compliance costs. An ambitious infrastructure program would fuel a construction bonanza .
This post-election logic was not crazy, but it overlooked the rather consequential question of presidential competence. It failed to anticipate that Trump would squander political capital by … ”
Read full opinion article at : https://www.washingtonpost.com/opinions/sooner-or-later-the-stock-market-will-catch-up-to-our-volatile-president-trump/2017/05/24/e5e87bba-3fe1-11e7-adba-394ee67a7582_story.html