I think President Donald J. Trump would be none too happy with an economic downturn.
Every incoming Presidential Administration in the U.S. has it’s own scheme for jobs, prosperity and the like. If implemented, those plans never seem to bear fruits for too long.
President Reagan, President Clinton and President Obama to differing degrees each entered the office of President with a problem economy. They each dealt with the problems in the economy differently and to varying degrees of success.
In particular, President Reagan entered into the Office of President with the problem of stagflation carrying over from the Carter Administration. Reagen fixed that problem and is widely lauded by at least Republicans and Conservatives even to this day.
Assumedly stagflation was an economic problem seen as impossible under the paradigm the Federal Reserve operated under to solve and Reagan did.
Even though Reagan was able to lift the economy up, the U.S. economy and the World Economy faced another massive problem before his tenure was up. The problem was known as Black Monday.
Black Monday was a world-wide downturn in the different stock markets. Yesterday, Oct 19, 1987 marked the 30th Anniversary of that stock market “Happening.” The Dow Jones Industrial Average(DJIA) in particular, fell more than 20% on that one day.
As I was only a child when this happened and having gone to University that is generally well regarded in these modern times, I have only heard about this event in passing. As expected, Wikipedia doesn’t seem to know why Black Monday occurred either.
It doesn’t seem like many popular sources ever know why an event such as Black Monday and other like economic downturns occur. People though, whether professional or amateur over time usually like to claim they know what happened. Some of those same folks like to claim they see the next one coming.
What I know is that there is a “business cycle,” and that with the historical frequency of the peaks and troughs in our “business cycle,” we are overdue for another market correction/plunge as, they generally occur every five to seven years.
Blistering heights on some of the market indexes fell fast during the Great Recession. Wall Street seems to like Trump’s economic plan and tax plan. It is said by many that faith in those plans are are why say, the DJIA is just about at an all time high.
Will Trump get his plans enacted?
Will they live up to their hype?
And, will they ever be enough to continue to the end of his term(s)?