*The caption says it all:*
*The caption says it all:*
*Famed very successful investor, and star of CNBC’s Shark Tank, Mark Cuban, made an uncharacteristically bad call on the stock market regarding the election of President Trump.*
*With the annoying misdirection of the Mainstream Media (MSM), it is difficult to get a handle on just what transpired in the first 100 days of President Trump. We know that stock market advanced something like 12% and consumer confidence has risen to its highest level in 16 years although the MSM doesn’t mention those kinds of new items. Here is Judge Jeanine Pirro discussing the President’s first 100 days.*
Beauty is in the eye of the beholder and apparently, according to the mainstream media, so is economic growth.
*In Friday’s New York Times, Nelson D. Schwartz wrote a piece headed “LIttle sign of a Trump Bump in the Economic Forecast.” He says that consumers are more confident, but doesn’t say why. Nor does he go into the detail that consumer confidence reported two days ago hit their highest levels in 16 years. No, in the Times, consumers are just “more confident.” That’s what I call damning with faint praise. AND giving a very distorted picture of the situation.*
Schwartz continues in his opening paragraph that “stocks are up five percent since the start of the year.” That’s factual, but, again a distortion. Why start at the beginning of the year? President Trump was elected November 8, 2016. Since then, stocks have risen something like 12 percent. Not quite the same picture, but the same result. Somehow five percent doesn’t sound nearly as impressive as 12 percent. Additionally, this stock market gain has put something like $3.0 trillion into the accounts of investors. A lot of people are a whole lot better off in their IRA accounts since the election.
Elsewhere, I saw news stories on the fact that stocks had declined for eight straight days as signs of the President’s failure. But, in that recent selloff prices only declined less than two percent. Remember, this followed a run up or around 12 percent. Clearly, a two percent decline after a 12 percent gain is not unwarranted.
The Trump presidency is 70 days old. I think the economy has already benefitted greatly and his policies are still in the process of being implemented.
Positive feelings about the U.S. economy among the top executives of the nation’s leading firms jumped in the first quarter by the most since 2009 when the economy was emerging from the last recession, according to Bloomberg News Service.
“The Business Roundtable’s CEO Economic Outlook Index — a measure of expectations for revenue, capital spending and employment — jumped 19.1 points to 93.3, according to the group’s survey released Tuesday. The increase, the biggest since the final three months of 2009, left the gauge above its long-run average of 79.8 for the first time in seven quarters. Readings above 50 indicate economic expansion.
“The survey is yet another in a series of confidence measures that have shown sizable upswings among businesses and consumers following Donald Trump’s victory in the November presidential election. While companies have said they’re encouraged by his plans to cut corporate taxes, reduce regulations and invest in infrastructure, the real test for the economy is whether they follow through with more capital spending and hiring,” Bloomberg reported.
Perhaps reflecting this optimism the stock market has advanced more than 12 percent, depending on which index you use, since the election and investors have enjoyed an increase of more than $3.0 trillion.
You might be asking why we aren’t hearing more about this from the mainstream media. And you would be justified in asking.
A majority of Americans are optimistic that President Donald Trump can do a good job of making the country prosperous, according to the latest Gallup poll.
Some 54% say they believe that President Trump can make the country’s businesses prosper under his guidance.
This poll is in line with the stock market having added $3.0+ trillion to its value since the President was elected in November. Despite coverage from mainstream media, the sentiment among consumers, investors and businesses is very positive.
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows that 51% of Likely U.S. Voters approve of President Trump’s job performance. Forty-nine percent (49%) disapprove.
At the same time, the stock market has advanced more than 10 percent since the election to post a $3+ trillion advance in investors’ pocketbooks.
The latest figures include 37% who Strongly Approve of the way Trump is performing and 38% who Strongly Disapprove. This gives him a Presidential Approval Index rating of -1. (see trends).
Forty-five percent (45%) of voters think the country is headed in the right direction. This is the sixth week in a row that this finding has been in the mid-40s after running in the mid- to upper 20s for much of 2016.