Ask A Genius 252 – Trump and Stocks
Scott Douglas Jacobsen & Rick Rosner
August 7, 2017
[Beginning of recorded material]
Rick Rosner: Right now, the stock market—well, since Trump has been in office, the stock market has been going crazy. And initially I think there is a—it did great under Obama too because it couldn’t, well because we’re recovering from the deepest recession since the great depression. So at the beginning of Obama’s term, the prices were very depressed and we recovered pretty steadily. And then excuse me, under Trump we got a bump because people were excited that he and the Republican congress were going to roll back all sorts of taxes.
Now we’re six months in, and the Republican Congress accomplishing anything looks like a more remote possibility but now I think the stock market is continuing to rise because I think, I think the stock market likes a certain amount of political dysfunction. If the government can’t work, it can’t supervise business and business can do whatever it wants. We had nice rises in the stock markets, in the last year or two of Reagan who was embroiled in the Iran Contra scandal by the end of his second term, nice rise at the end of Clinton who was you know, impeached.
At the end of his second term, didn’t have a nice rise at the end of Bush two’s second term, because that was, you know, 07, 08, the stock market entirely fell apart over mortgage back security, the collapse of that market. But short of collapse I think people who were involved in stocks like when the government can’t get anything done which is the case right now. That’s it for that.
[End of recorded material]
American Television Writer
Scott Douglas Jacobsen
Editor-in-Chief, In-Sight Publishing
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