It’s Thursday, July 20th. As of today, Donald Trump has been president for 6 months. The media coverage of the president is overwhelmingly negative: the press remains contemptuous, and they're pushing to get him out before he completes his first term.
Investors might think differently. The great success of the Trump presidency thus far, is not what he's done, but what he promises to do, namely, get the economy going again. Evidently, investors believe he might yet get it done.
Look at this: since his election win, the Trump rally has added $4.1 trillion to the nation's wealth. Anyone with a 401k, an IRA, college savings, retirement savings, mutual funds. Anyone with a dime in the market has taken a piece of that $4 trillion.
Also, during this presidency, 5 American companies have emerged as global technology leaders. You know their names: Apple, Amazon, Alphabet, Microsoft and Facebook. It’s a technology world, and American companies have seized the future.
I find it astonishing that the world of money is so exuberant, while the political world is so contemptuous of this president and his policy of growth.
One brief aside, can anyone tell me the democrats' growth plan? Do they have one? They apparently still cling to the belief that if we taxed the rich, and give to the poor, shackle capitalism and open the borders, we will somehow grow. Nonsense. Six months in, the left is mired in hate.
Let’s hope, hate loses, and growth wins.
Six months in, it’s the hope of growth that’s making America $4 trillion richer.
Adapted from Stuart Varney’s “My Take” on Thursday July 20, 2017.