You might find it fun, maddening or confounding– but it’s hard to not to find it interesting to review how wrong so many of us in the media have been when it comes to political and financial predictions in the era of Donald Trump.
One example is a 2016 article by CNN. It’s entitled: “A Trump win would sink stocks.” It doesn’t attribute the prediction to anyone in particular, it simply states it as if it were a fact.
The article goes on to read, “If Donald Trump wins the election…U.S. stocks will almost certainly tank.” The only outstanding question, according to the article, is “How big of a drop?”
A Trump win would sink stocks.
CNN, Oct. 2016
Trump win would cause 8% fall in the U.S. stock market.
Macroeconomic Advisors, 2016
Trump win would cause 10%-15% nosedive in U.S. stock market.
Brookings Institute, 2016
CNN quoted the forecasting firm Macroeconomic Advisors, which predicted there would be an 8% fall in the U.S. stock market if the country were unlucky enough to get Trump as a president. It also mentioned “a new paper out Friday from the Brookings Institute,” which projected “a 10% to 15% nosedive” if Trump were elected.
Read the CNN article from 2016 by clicking here: https://money.cnn.com/2016/10/24/investing/stocks-donald-trump-hillary-clinton/index.html
Fast forward to three years after Trump’s election. Looking back, there was no immediate stock market crash.
Quite the opposite.
Today, a CNBC article points out: “Stock market’s value under @realDonaldTrump has grown by $6.9 trillion to $30.6 trillion.”
Read the CNBC article by clicking here.
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I don’t think a comment is needed for normal people to see what has happened. We don’t really need it explained to us. 😎
When it comes to the economy (and by extension the stock market) I think we can divide up the people who are involved into two groups; 1) the experts (politicians and economists) who believe they understand how everything works but aren’t really subject to the ups and downs, and 2) the business people who have to work and make a living no matter what. Trump has shown that a businessman runs the economy much better for everyone’s benefit than the experts.