Guys don't worry about the deficit this will cause...the stock market will go up! Solved!
This is probably a good spot to update how amazing President Business has been for the markets and folks' retirement accounts. The DJIA:
November 4, 2008 (election day): 9,625
November 5, 2009 (the next day): 9,139 (the market plummets 486 points - that is incredible)
November 27, 2009 (387 days later): 10,310 (1,171 points up from 11/5)
November 6, 2012 (election day): 13,246
November 7, 2012 (the next day): 12,933 (the market plummets 313 points - ouch)
November 8, 2016 (election day): 18,363
November 9, 2016 (the next day): 18,590 (the market leaps by 227 - weird....)
November 30, 2017 (387 days later): 24,251 (5,888 point gain)
Ok, so key takeaways:
1. The markets did quite well under Obama, gaining 9,224 points from his election to Trump's election.
2. But investors sure hated Obama being elected in general, punishing the markets the day after both his elections.
3. By contrast, investors loved Trump's election, adding 227 points the day he was elected.
4. And most staggering of all, the markets have added 5,888 points in the 387 days since Trump was elected.
That's right, in a little over one year under Trump, the markets have already achieved 2/3 of the total gains under Obama's 8 years.
Which segues nicely to the NYT's preeminent economist Paul Krugman, the night of Trump's election:
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
https://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/paul-krugman-the-economic-fallout