Monday, March 27, 2017

The Trump Slump: let me be the first to congratulate the President this time.

Back at the end of January, when the Dow Jones Industrial Average  hit 20,000, Donald Trump stood up and took a bow. He was “very proud,” he said. And his cheering section wildly applauded him.

This was the “Trump Effect,” said Kelly Anne Conway.  Right. He alone could do it.

Anthony Scaramucci, the hotshot young entrepreneur du jour tweeted, “Dow 20,000 = big league.Thank you @POTUS@realDonaldTrump."

But a funny thing happened on the way to the celebratory fireworks. The Trump Boom became a Trump Slump.

For the past three weeks, the Dow has been acting like an overinflated tire with a slow leak. 

Nothing sudden mind you. But on most days, the stock market loses a few, or a few dozen points, and the wheel deflates a bit more. You can practically hear it hissing.

If this keeps up, it’ll be running on its rim pretty soon. Until the wheel comes off.

Hey Donald, what’s the matter? Did you stop taking credit for what happens in the stock market — or is it the economy? — or what?

As for everybody else, repeat five times after me: Trump Slump. Trump Slump. Trump Slump. Trump Slump. Trump Slump.

P.S. It's now a day after I posted the stuff above, and the Dow, as of 3:27 in the afternoon, has posted a 163.8 points recovery. So no doubt The Donald will soon be boasting that he's just pulled the market out of a slump. Unless, of course, tomorrow, or the day after, or the day after that, it slumps again.

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