If America’s No.1, Why Are These Countries Beating Us?
If America’s No.1, Why Are These Countries Beating Us? by Greg Guenthner – Daily Reckoning
America is great again!
You can’t beat Uncle Sam. You know it. I know it. Believe me.
Just check the stock market:
The Dow Jones Industrial Average and the S&P 500 posted new all-time closing highs on Friday. Even tech stocks are shaking off recent weakness to help put the Nasdaq Composite back on track (it’s just a few points from its all-time high close posted last month).
Should we be giving thanks to President Trump for the wonderful gift of all-time highs?
He certainly thinks so. After all, the Trump Administration threw down the gauntlet just a couple of weeks after taking the White House when Treasury Secretary Steven Mnuchin said the administration would look to the stock market as a “report card” for how his economic policies are performing.
Let’s be honest – Steve knows what’s up. After spending decades at Goldman Sachs, he understands the stock market’s power. All that vampire squid blood running through his veins tells him only price pays.
Judging by the huge post-election rally we’ve witnessed, it’s no surprise the administration is patting itself on the back. If we’re following his official report card, Trump’s tenure gets an “A+” as the market defies the naysayers and blasts higher.
Our illustrious president couldn’t help but mention last week’s market milestones on Twitter over the weekend as he deflected criticism surrounding the latest Russian fake news story…
Now before you go and get your panties in a bunch, you should know that I have a lot of readers who are way too pissed off over politics these days. My inbox overflows with angry letters every single time I mention anything related to Trump.
So before you hit “send” on your latest screed, please consider this following:
First, I’m not making up any of these statistics. The S&P 500 is up nearly 10% year-to-date. The Nasdaq Composite is up more than 17%. U.S. markets are on a tear and investors are downright giddy.
But here’s what they’re not telling you…