Did you know U.S. stocks rose in 2017?
We didn’t. Because the “dishonest media” never talked about it.
If you exclude every major financial news network and if you also don’t count CNN Money or Fox News or any other American media outlet, literally no one mentioned record high stock prices.
We had no idea how U.S. stocks performed in 2017 until we word-searched Trump’s Twitter feed for “market” and “stocks” and “Dow”. He was the only person who mentioned stocks all year long.
Obviously, we’re being sarcastic. Record high stock prices were front and center on every major news outlet in the country all year long despite Trump’s contention that everyone was engaged in a conspiracy to undermine his presidency by not mentioning the “good” things.
But the ultimate irony in Trump’s boasts about the stock market is that when you actually step back and look at things in the global context, it was not “America first.” In fact, it was “America middle”. Have a look:
Yeah. There’s another dose of reality for the President and for all of his social media followers. The only major markets that didn’t outperform the U.S. in 2017 were European benchmarks.
But it gets better. Part of EM’s outperformance in 2017 was attributable to the fact that the dollar had its worst year since 2003:
What was that Trump told the Wall Street Journal back in April? Oh yeah, that’s right:
I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me.