The Dow has climbed to a new all-time record, over 26,000 in the past few days. That reflects $7.2 trillion in new wealth added to the economy over the first year of the Trump presidency, broadly shared by everyone with stock ownership, either directly, or through pension plans and retirement savings . Turns out Donald Trump really is crazy, like a fox.
But there is a broader significance: the stock market reflects people betting their own money on the future of the economy. They are betting on increased economic growth, higher sales, higher business profits and income, increased jobs, and higher real wages. When people bet their own money, that means their hopes are well founded.
Economic growth will soar past the average of less than 2% under the long Obama stagnation, beyond 4%, to 5%-6% for a couple of years.
Investors Business Daily
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