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.