{"id":179442,"date":"2018-02-07T20:26:00","date_gmt":"2018-02-08T01:26:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/02\/07\/it-is-now-officially-the-trump-economy\/"},"modified":"2018-02-07T20:26:00","modified_gmt":"2018-02-08T01:26:00","slug":"it-is-now-officially-the-trump-economy","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/02\/07\/it-is-now-officially-the-trump-economy\/","title":{"rendered":"It Is Now Officially the Trump Economy"},"content":{"rendered":"<p>Down 666 points on Friday, and <a href=\"https:\/\/www.washingtonpost.com\/business\/economy\/dow-drops-more-than-300-at-opening-extending-fridays-losses\/2018\/02\/05\/624f72c6-0a80-11e8-8890-372e2047c935_story.html\">1175 points on Monday<\/a>.<sup>*<\/sup><\/p>\n<p>The benefits of the tax cuts are positively amazing:<\/p>\n<blockquote><p><span style=\"color: blue;\">The Dow Jones industrial average plunged 1,175 points Monday in an exceptionally volatile day for financial markets around the world, stirring concerns about the durability of the long-running stock gains.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">In the biggest global sell-off since 2016, financial markets from Asia to Europe to the United States were rocked primarily by concerns about inflation.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">The Dow was off a heart-stopping 1,600 points during afternoon trading, the largest intraday point decline in the blue-chip index\u2019s history. But the 4.6 percent loss for the day was not even close to the biggest.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">The downdraft raised fresh anxieties among Americans who have seen their retirement savings and household worth march steadily higher without any of the gyrations that are part of a normal market cycle.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">It also threatened to deprive President Trump and the GOP of a favorite talking point at the nascent stages of the 2018 midterm campaign.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Although the declines were eye-catching, market observers have been anticipating a correction after a year of big gains in the Dow, the broader Standard &amp; Poor\u2019s 500-stock index and the tech-heavy Nasdaq.<\/span><\/p><\/blockquote>\n<p>You know, Trump was right.  I&#8217;m sick of winning.<\/p>\n<p><sup>*<\/sup><span style=\"font-size: xx-small;\">Yes, I know that the stock market, and particularly the Dow, are separate from the real economy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Down 666 points on Friday, and 1175 points on Monday.* The benefits of the tax cuts are positively amazing: The Dow Jones industrial average plunged 1,175 points Monday in an exceptionally volatile day for financial markets around the world, stirring concerns about the durability of the long-running stock gains.In the biggest global sell-off since 2016, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[482,392,456],"class_list":["post-179442","post","type-post","status-publish","format-standard","hentry","tag-breaking-news","tag-economy","tag-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/179442"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=179442"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/179442\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=179442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=179442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=179442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}