On December 21, the Dow Jones Average closed at 21,792 – down almost 5,000 from it’s all-time high earlier this year.
Trump haters in general, and Democrats in particular, gleefully pointed to this as a sign that the economy was collapsing and the recession they had been itching to blame on Trump was imminent.
Since then, the December jobs report came out, showing a remarkable 312,000 gain (“experts” had predicted about 176,000), wages went up again (over 3% in the past year) and Hispanic unemployment joined Black and women’s unemployment at all-time lows.
The stock market’s reaction? Yesterday, a little over two weeks after that low, it stands at 23,787 – about 40% of the way back to its all-time high.
Look, no one knows where any of this is going to head in the future. But, at least as of now, the naysayers who were (in many cases, gleefully) predicting a Trump collapse, have become strangely silent.
Well, maybe not so strangely.
Let’s all hope that the economy keeps them that way for a long time to come.