Nobel Laureate Economist Paul Krugman said on November 8, 2016 that markets will never recover from the stock market decline that occurred on November 7th, the day before the Presidential election.
Never recover? The S&P 500 price index is UP 25.2% since November 8th (election day). While the Russell 2000 small cap index is up 29.2%. All this inspite of The Federal Reserve deciding to raise their target rate FOUR TIMES after the election (compared with only once increase during the 8 years of Obama).
Meanwhile, stock market volatility has almost been cut in half since Trump’s election.
Krugman made be right … eventually. But as of the day after Christmas 2017, he sounds like a Hysterianomics Professor. Or on the Crazy Train with The Federal Reserve driving.Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.