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mjmsmith

From those well-known commies at Bloomberg Businessweek, note the image half-way down:

https://www.bloomberg.com/news/articles/2017-02-02/stability...

Business is figuring out that the Trump endgame isn't going to be good.

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Business isn't figuring that out, it's just good publicity. There's a difference

And yet the market is near an all time high. What gives?

What gives is that people are forgetting that the Dow 20K thing was already super close toward the end of Obama's term, and that the DJIA stood at 8279.63 on the day of Obama's first inauguration.

If you're riding what are basically daily fluctuations of the massive high achieved in your predecessor's term, it's hard to claim the market likes you.

The fact that markets haven't tanked suggests that investors aren't predicting major negative events in the future. That doesn't mean investors are correct, but I would think that if "[b]usiness is figuring out that the Trump endgame isn't going to be good" then it would likely be reflected here.

Maybe so. But there's also people's natural desire not to believe the worst will happen. I admit to being one of those people in 2007. Based on the last couple of weeks, I don't see good reason to believe that his (and Bannon's) recklessness will be brought under control.

He came in with a business-friendly agenda after eight years of stability had erased the memories of 2008. Nobody wants to be the first to decide he's an unhinged mess, just like nobody will want to be the last to decide.

Current stock market performance is not a very good predictor of future economic health. They're almost always highest right before crisis, so trying to prognosticate based on like DJIA is tough game. You fail either by insisting that there's a bubble about to pop any day now for 5 years or by insisting that everything is fine because there are record highs and steady growth for years. I'd look more at business investment, particularly in greenfield projects, but I'm not an economist.

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