October, which concludes with Halloween, historically often brings “tricks” for stock markets. So far, this month is following suit, as the Dow Jones Industrial Average scared investors with an 831-point tumble on Wednesday. Mainstream media critics of President Trump have mostly ignored the incredible positive news for our economy since his election, and seem to take twisted glee in days like Wednesday, with HBO host Bill Maher actually admitting that he wants a recession because it may mean “getting rid of Trump.”
Despite this recent market volatility, the real economic growth of the Trump Boom continues apace. So Mr. Maher will likely be very disappointed. Sorry -- but not sorry -- Bill.
Regarding the market, context is important. Even with the sharp plunge, the Dow still stands an astounding 40 percent higher since the 2016 election and sits just 4 percent off the all-time highs achieved last week. Given the astronomical rise in prices, 800 points just isn’t what it used to be!
But more importantly, the performance of the real underlying economy matters far more to a much broader constituency. In fact, I wrote about this very point in January when the DJIA was at almost this exact same price, and advised the president, publicly and privately, to resist the temptation to fixate on equity indices and instead message on Main Street’s expansion.
From here, there are three crucial potential hurdles for stocks, but all of them still point to incredible success for the Trump agenda:
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07.05.2025