Monday, October 23, 2017

LOL, Trump Should Read the Book Written By Baghdad Hassett When He Predicted Dow 36,000

Tom Braithwaite writes at The Financial Times:
With hindsight, it is easy to mock Dow 36,000. But that’s no reason not to do it. Especially since co-author Kevin Hassett now sits in the White House, as chief economic adviser to a US president who loves to cheer stock market milestones.

Published in October 1999, the book argued that stocks should triple in about
four years...

And of course the book has remained a byword for bad market forecasts. Only three months after publication, the bubble burst. Three years later, the Dow Jones Industrial Average had sunk to 7,200.
Baghdad Hassett's book should be a warning to Trump in two ways. First, as  Braithwaite says it is dangerous for Trump to cheer on stock market milestones. They can reverse/

Second, Baghdad Hassett is now making idiotic predictions for Trump tax reform stating they will benefit the middle class on average by a boost in income of $4,000 per family.


No comments:

Post a Comment