Wall Street hit a new high note Wednesday morning when the Dow Jones industrial average skyrocketed to a record lifetime high of 19,270.96.
Granted, the DJIA had been climbing steadily since the Great Recession, but considering all the prophesies of doom that liberals had trotted out while trying to convince the American people to not vote for GOP nominee Donald Trump, it was a great sign of things to come.
It was also a reminder that liberals had been dead wrong.
“A big adverse surprise — like the election of Donald Trump in the U.S. — would likely cause the stock market DJIA, +0.20% to crash and plunge the world into recession,” MIT professor and MarketWatch contributor Simon Johnson incorrectly predicted two months ago.
Just in: the Dow hits lifetime high! pic.twitter.com/iOv3pNlglB
— FOX Business (@FoxBusiness) December 7, 2016
The stock market’s sudden surge could not be attributed entirely to Trump’s election, of course, but it could be reasonably surmised that the pro-business policies he proposed during his election campaign had reinvigorated both investors and business owners.
It should be noted that this trend upward was not a sign of a booming economy. As longtime journalist Joseph Farah noted in a piece published at WND, the labor force participation rate was still at a record low level, the debt was still approaching $20 trillion and the economy was still “growing at the shockingly low annual rate of between 1 and 2 percent.”
“(T)he latest numbers show the president-elect will in fact inherit a fairly robust economy with the lowest jobless rate in nearly a decade, record home and stock prices and a healthy growth rate,” he claimed in a piece published Friday.
“Trump … will take office with an economy near full employment and wages and spending rising. The economy is in such strong shape that the Federal Reserve is likely to raise interest rates again later this month to try and cool things off,” he added.
What a “bunch of hooey,” to borrow a phrase from the current president. The truth is that Trump will inherit a depressed economy that, possibly thanks to him, is just now finally showing signs of a potential comeback.
Like us on Facebook – USA Liberty News
What do you think about the stock market’s rise? Scroll down to comment below!