{"id":31443,"date":"2018-02-22T09:20:39","date_gmt":"2018-02-22T14:20:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31443"},"modified":"2018-02-22T09:20:39","modified_gmt":"2018-02-22T14:20:39","slug":"dont-trust-the-trump-boom","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31443","title":{"rendered":"Don\u2019t Trust the \u201cTrump Boom\u201d"},"content":{"rendered":"

Don\u2019t Trust the \u201cTrump Boom\u201d<\/a><\/h3>\n
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\"stockmarket-300x200\"<\/a>Call me a bad conservative.<\/p>\n

I don\u2019t cheer this past year\u2019s stock market gains<\/a>. I don\u2019t enthusiastically crow and pump my fist every time the Standard and Poor\u2019s breaks a new record. I don\u2019t breathlessly watch CNBC to see the day\u2019s gains, listening mindlessly to commentators in custom-tailored suits with shiny gelled hair pontificating about what a rise in the futures market of Chinese copper means.<\/p>\n

Oh, sure, the few times I check my 401k balance, I\u2019m pleased. But when the closing bell rings and the champagne corks pop and the Financial District bursts into song and dance, I\u2019m more or less indifferent\u2013perhaps less. Perhaps I\u2019m even pessimistic.<\/p>\n

It\u2019s because we\u2019ve seen this movie more than a few times before. The wildcat banking of the mid-19th century, the frequent panics of the fin-de-si\u00e8cle, the Roaring Twenties, Jimmy Carter\u2019s cardigan-covered stagflation, Alan Greenspan\u2019s handiwork in suppressing interest rates to fuel a housing bubble that popped in the fateful autumn of 2008\u2013we live in a cinema where the feature show is never different. America, its economy and its workers, its labor and capital,\u00a0are stuck in an involuntary pas de deux with some guy named Dow Jones.<\/p>\n

The so-called \u201cTrump boom\u201d that\u2019s sending stocks ever skyward was suspect from the beginning, but not for anything the President\u2019s done. Trump\u2019s tax-cut act,\u00a0his most significant economic policy so far, has no doubt loosened some restriction on the market, freeing up money that would otherwise float down the river of Acheron<\/a> into D.C.\u2019s dead coffers. That\u2019s certainly been a boon to traders whose job consists of playing god with other people\u2019s dreams of retirement.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t Trust the \u201cTrump Boom\u201d Call me a bad conservative. I don\u2019t cheer this past year\u2019s stock market gains. I don\u2019t enthusiastically crow and pump my fist every time the Standard and Poor\u2019s breaks a new record. I don\u2019t breathlessly watch CNBC to see the day\u2019s gains, listening mindlessly to commentators in custom-tailored suits with […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7617,18852,18851,5024,2442],"class_list":["post-31443","post","type-post","status-publish","format-standard","hentry","category-economics","tag-mises-institute","tag-taylor-lewis","tag-trump-boom","tag-us-equities","tag-us-stock-market"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31443"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31443\/revisions"}],"predecessor-version":[{"id":31444,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31443\/revisions\/31444"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}