I think he was using sarcasm here. See unless you have been living under a rock, Trump has been boasting that the DOW was up x amount of points since he took office. He was the first president to emphasize that. The reason past presidents always have been weary to do that is that the market fluctuates. He wants to point out that when you take credit for positive news, one has to take credit for the negative.
/----/ Are you saying the market isn't up? And investors take profits at points causing it to fluctuate. That's why we trade options so you can protect your investments if they sell of without resorting to a trailing loss. (I'm not confusing you am I?)
No I'm saying that it's up for now but the market goes down too. And Trump has exposed himself by taking credit for the market, this means he will have to take credit for ALL the market does, not a good idea.
/-----/ Again you don't trade much do you? The market goes up and investors take profits along the way causing the prices to go down then at a point they see bargains and step back in.
Here is a yearly chart on Amazon. Note it's not a straight line going up, but little fits and starts goes up , sells off, goes back up higher, sells off, goes higher.
AMZN Interactive Stock Chart | Amazon.com, Inc. Stock - Yahoo Finance
I know it's not a straight line. I also know that in the longer term growth is always followed by sharp decline. I wouldn't claim the recent drop is that decline. I simply claim the decline will happen. When it does, which its likely to do in the next couple of years considering the average span of periods of growth, taking credit for the current market is politically stupid.
And the tax cut is a yuuuuge gamble. We are caught in a cycle of slow growth and no inflation. Our central bank is in the process of removing stimulus in "unwiding QE" (ie letting bonds owned by the Fed die of natl causes, and allowing the liquidity, i.e. paper money, created just vanish into thin air. Other central banks are not reducing stimulus as fast. IF inflation heats up faster with consumer spending, the Fed will KILL growth not just by withdrawing stimulus from QE2 but also raising rates even faster than they say they will.
Politicians don't necessarily create depressions, but they sure as hell can make them worse. 1929 was a perfect storm of a bubble market, poor political decisions and a central bank that had a bad economic policy.