While Trump is polling dismally, he takes some comfort in the ongoing rise in the DJIA. At least he has the confidence of the investor class–the country’s “winners”–right?
Even if you assume (I don’t) that he won’t drag down the economy with some appalling foreign policy decision or a vast increase in the size of the deficit, the fact is that the market is going to face a significant correction at some point in his term. What happens then? Will he stand before the country as a strong, confident leader and provide the necessary reassurances? Or will he panic like a man on golf cart and start insisting that the Fed and Congress do something, anything, to solve a problem for which he, of course, is not to blame?
You can probably guess which option I’m taking.
I will be on vacation for a few days. Posting will resume next Tuesday.