The doomsday scenario predicted by liberal hacks of President-elect Donald Trump’s election causing equity markets to topple like dominoes has been proven to have been 100 percent false, if not also misguided.
Take the Dow Jones Industrial Average, for instance, which rose 5.4 percent this week, thus experiencing its best weekly performance since late 2011, according to CNBC.
Likewise, the S&P posted its highest weekly gain since 2013, while the Nasdaq composite experienced its best weekly performance since February.
“Within a week, the market went from egregiously oversold to overbought,” remarked Adam Sarhan, CEO of 50 Park Investments.
In explaining why this occurred, Baird chief investment strategy Bruce Bittles pointed to Trump’s plans for a freer economy.
“I think you’re seeing a transition from a government that had its thumb on growth to a free economy,” he said. “We’re now looking at an economy that can reach its full potential.”
Under the “leadership” of President Barack Obama, the economy has been constricted as if a noose were tied around it, preventing it from breathing and growing. With Trump’s leadership, this could all change for the better.
“The market is giving Trump the bullish benefit of the doubt, (but) if he starts going off the deep end, whether on foreign policy or something else, then that could be bad for the market,” Sarahan cautioned.
John Manley, who serves as chief equity strategist for Wells Fargo Funds Management in New York, did not seem worried, though.
“People are going through the possibilities about what Washington looks like today and what Washington can do or not do for them,” he told Bloomberg. “Corporations feel there’s a less restrictive hand. People may take that as a positive. It’s the end of the uncertainty.”
Pop open the bottles and drink up, because for the time being, everything looks exceptionally good for America’s economic future.
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