Back when the S&P 500 was at 2130, the Donald called the stock market “one big, fat ugly bubble”. Of course, those were the words of candidate Trump, which are not to be confused with today’s ALL CAPS twitter eruption from the Oval Office at 2930—a level 38% higher!
S&P 500 HITS ALL-TIME HIGH Congratulations USA!
The all caps part is a fact that the Donald actually got right for once, but “Take Cover, America!” would be the more appropriate follow-on.
That’s because the Donald inherited a structurally impaired main street economy, an egregious Wall Street bubble and a legacy of destructive fiscal and monetary policies that were bound to generate a renewed financial crisis; and one far more debilitating and long-lasting than that of 2008-2009.