Friday, December 2, 2016

Matthew J. Belvedere — Trump will end growth-zapping fiscal austerity, says top economist Paul McCulley

The stock market rally since Trump won the presidential election has been reflecting that notion, argued McCulley, who said he voted for Democrat Hillary Clinton. "The market is essentially celebrating the end of fiscal austerity. And it just happens to be a vehicle of Mr. Trump. But the end of fiscal austerity is the key economic issue."...

3 comments:

Random said...

http://www.politico.com/story/2016/11/indiana-carrier-deal-federal-contracts-trump-232021

Michael Norman said...

McCulley is stupid. If the market is celebrating something that hasn't happened yet then it is potentially setting itself up for disappointment.

What does McCulley say about the market decline leading up to, and the night of, the election, when everyone believed Trump was death for the economy? He even probably believed that.

Was that rational?

Is this rally rational?

We don't know what Trump will do. We'll know when we know.

In the meantime, all the economic "types" in the Trump administration, so far, are fiscal hawks.

McCulley doesn't trade. He's an economist talking like he knows something about trading. He doesn't. He's an idiot.

Matt Franko said...

Who's going to buy them now?!?!?