The president rejoiced, telling supporters that the “stock market is booming.” A few days later, and eager to more directly associate the market's direction with his policies, this same White House occupant bragged that “I don't have to tell you about the stock market and where that's gone.” Who was this self-promoter? It was President Barack Obama, in 2014.
About Obama's boasts, good for him. Quite unlike mindless measures of economic health like GDP, the stock market is blind to bias. It just is. Importantly, it reflects the views of everyone (bullish buyers, bearish sellers, along with the sidelined), as opposed to artificial measures of economic health that are generally created based on the false assumption that consumption is the driver of economic growth. Sorry, but it isn't. Consumption is always and everywhere an effect of production, and production is driven by investment. The more investment, the greater the production. Investment is the most crucial driver of the progress we call growth, so yes, presidents should brag when an investment indicator is moving upward.
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