Trump’s Rally

An unfortunate trait of politicians is to take credit for things they…didn’t do. Clinton famously benefitted from George W’s tax hike that created many good years of income for the treasury, Obama claimed credit for the turnaround of the economy after 9/11 even though most of the credit should have gone to the Fed, and the list can go on.

 Donald Trump is following in the footsteps of his predecessors when he takes credit for…. the decrease in airline accidents, but is probably correct in taking credit for the stock market rally. Time will tell whether the tax cut will translate in lasting gains for the economy but in the meantime, investors should ignore the bull market at their peril.