Can’t complain about this!
We all expect a correction as one is long overdue. I have stopped putting my retirement deposits into stocks, instead putting into MM funds to build up cash reserves for when it comes.
Meanwhile I am enjoying watching my current investments rapidly grow as the Trump administration sheds unnecessary regulatory burden from our economy.
Unfortunately when the correction comes, the Trump Haters will suddenly gnash and wail, blaming him for everything.
Heard a fellow this morning on Maria Bartiromo’s show predict something like a 2% drop after the tax bill is passed. “Buy the rumor, sell the news…” sort of thing. But he expects it to be followed by more gains.
All “experts” are wrong sometimes. But I’m inclined to believe this fellow’s prognostication. In the meantime, I am holding on to those stocks with strong earnings that don’t have a lot of “loopholes” in which to hide profits. They’re going to be big gainers from this bill.
It’s amazing how little reporting is done on our booming economy by what is considered the mainstream media.
When the stock market did well under Obama, I didn’t recall anyone attributing it to his economic policies. Yet a strong stock market under Trump is due to his economic policies? Sounds like wishful thinking to me.
I did. The Obama administration’s economic policies were boons to many sectors of our economy, especially healthcare insurance and banking.
The Trump admin’s economic policies are more geared toward small business, which is why our economy is doing so much better!
Ok, so give me an example of a regulatory change that has had a big impact on small businesses.
To give you a SPECIFIC example - The reversal of the WOTUS regulations.
We have been looking for the right piece of property to grow one of our side businesses, and to build our dream house on. We finally found one…but it has a couple of acres of land that looks like it’s frequently pretty wet, and there is a spring-fed pond there. I was pretty sure that water wouldn’t really run off of the property at all, but it would’ve cost me about $1500 to do a survey to ensure water would run ONTO this property instead of OFF of this property. I needed to do that survey because of my concerns with the potential for abusive enforcement of the Clean Waters Act via the WOTUS regulations.
Now I don’t have to worry about that. I purchased the property without wasting $1500 on a survey, we are expanding our business, and we are developing plans for our dream house.
These reversals are good?
Revoking overtime rules, stopping fiduciary responsibility, stopping class-action lawsuits against financial institutions, revoking compliance with labor laws as a condition of receiving gov’t contracts, stopping the phaseout of private prisons… these are good?
Yeah, they are good for big business; they are not good for small businesses and down right bad for individuals.
These are all very minor regulations in the grand scheme of things. Not all of them are necessarily positive for the economy. For example, getting out of the TPP was a net loss for the economy and the one that was going to have the biggest negative impact.
Yes they are good. I was potentially affected by the overtime rules. I often work 24/48/72 hour shifts (I get paid to sleep). If these overtime rules had been applied, I would have had to charge overtime, and my employer would have had to cut the shifts to 12 hour. This would have been EXTREMELY detrimental to my employer as they already can’t find enough qualified people for this position/location.
The fiduciary responsibilty regulation, like all regulations, have a good reason behind them, but could easily be mis-applied. The way it was written it was questionable whether anyone could EVER give ANYONE financial advice without potentially being held to the fiduciary responsibility rules.
Class action lawsuits have their purposes, but most of the time the only people who benefit from them are trial lawyers…who donate almost exclusively to the Democrat party.
There has been no revocation of labor laws, just a revocation of looking at past labor law violations as a condition of receiving contracts. If I have a business who ran afoul of the (thousands and thousands and thousands) of labor laws, should that mean I could never again compete for a government contract? Great way to ruin a business and put people out of work.
Etc, etc, etc.
There is always a good reason for more regulations. Unfortunately every regulation comes with a looooooong list of unintended consequences which usually make it more difficult/expensive to do business.
Looks like the economy is doing quite well despite the wailing and gnashing of teeth from the left.
Yes, 185,000 minor regulations need to be cut. Our businesses have been bleeding a death of a thousand papercuts.
I haven’t seen anyone from the left post here yet, but of course, we often get a diversity of opinion from both of the right and the left on matters of economics.
As to whether it is doing quite well it is a little early to tell. GDP growth is decent in some quarters, not so decent in others.
The ultimate impact of any of these regulatory changes is still too early to tell. Like I said, there is a lot of wishful thinking when it comes to Trump supporters. The stock market could be good due to Trump’s policies, or it could be good due to being in a bubble.
It is amazing at how well the stock market has been doing. Should be interesting to see how the tax stimulus effects the economy in the next few years, along with confronting other countries about unfair trade arrangements. I imagine they will work out well for the economy, creating more better paying jobs, and likely an ever higher stock market.
That is your opinion, and not an opinion that is shared by many people.
Most of us think there is a bubble, but I have read no legitimate source which thinks the rise in stock market is due to “manipulation.”
If you would care to share your opinion with some facts I would be glad to try to understand your point.
I believe the stock market is going up for many reasons. First, companies are starting to spend the money that they have held onto through the Obama years. Second, companies see the roll-back of onerous regulations. Third, companies see the upcoming tax relief. Fourth, consumer confidence is very high. Fifth, unemployment is low, and still falling.
it’s funny how this boom, which began long before the election, is now fully ascribed to Trump. Mind you, once he blows up NAFTA and screws over the US’s most important trade partners, we’ll see how things truck along.
There was certainly stock market growth under President Obama, but it has rapidly accelerated in the past year, especially in past few months as it began to look like the tax cuts were actually going to happen and regulations kept falling.
However I’m not sure you can say the economy was “booming” under Obama. Yes, there were some quarters of 3% growth, but I think there were many with less than that. Furthermore, much of the growth was in banking/insurance…not much help to the plumber, electrician, farmer, etc.
I think “blowing up Nafta” will result in another trade deal that is better for US workers. It’s what President Trump does!