Thursday, November 10, 2016

Dow Closes at Record High

The S&P 500 financial sector surged 4 percent to its highest level since the 2008 financial crisis.

Wells Fargo & Co. jumped 7.6 percent, JPMorgan Chase rallied 4.66 percent and Bank of America surged 5.34 percent.

So what was that again, Trump is going to take down the banksters?


The broader Dow Jones Industrial Average closed at an all time record. It rose 218.19 points, or 1.2%, to 18807.88, surpassing its previous closing record of 18636.05 hit Aug. 15. The index is up more than 5% this week.

The markets are rallying based on the expectation that President-elect Donald Trump is going to launch a massive government spending programs. TRILLIONS focused on infrastructure and defense spending.

Of course, he is basing this spending on crazed models that allow him to believe he is going to raise all kinds of revenue for the government by cutting taxes.

This is a combination of Keynesianism and Supply Sider policy on steroids.

Prepare for much higher interest rates and exploding price inflation.

Things are going to get insane.



  1. MMTers celebrate Trump some more:

    Trump priority to end Sequestration

    Probably only 2 politicians existing who want to end the sequestration, Trump and maybe Jill Stein that is it.

    This is a 3rd thing we have from Trump; we have:

    1. He knows they are stupid
    2. He knows we can't go bankrupt
    3. He knows the sequestration is not at all necessary.

    That is it for now...

  2. Haven't recent rallies also been driven by lower rate hike odds?