Is there any point at which people will stop saying "the market was due for a correction" and accept that, cycles aside, there's a clueless person in the White House actively making terrible decisions for the economy while blaming "the fed?"
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The market did know about these things. Mkt gave credit for temporary boost of tax cuts, de-reg effects etc in 2017. Flatish over 12 months since then but for Q3 runup. Mkt needs a reason to rise. ‘17 had one. Now it’s reflecting negative prospect of current policy/lack thereof.
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Mkts look forward only. Prospect of increasing drag from tariffs, fading boost from tax cuts, no “new” reason for increased growth, Trump’s bluster re Fed, Mnuchin’s nonsense re banks scares the shit out of investors.
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