Obama is a few weeks away from leaving office and Donald Trump is helping him leave on a high point.
When Obama departs the White House on January 20th, he is likely going to leave after one of the strongest economic quarters during his eight years as president, but who is causing the boom?
After the stock market started the worst year in its history, it came roaring back only to lose the momentum and start to fall again starting in August. The troubles continued through the election.
Then something happened. Donald Trump was elected, and the stock markets responded in epic fashion by reaching its highest levels ever. Things turned around very quickly.
Black Friday shopping was up and people are spending again and a lot of it has to do with Trump and not Obama.
A Trump spending euphoria is spreading, as working class adults feel more comfortable with their financial future with the new president elect.
The incoming Trump administration isn’t just making America feel better about spending money; they are actually making a difference with jobs already, and that is fueling some of the euphoria.
Thursday, Trump and Mike Pence are heading to a Carrier facility in Indianapolis to announce that the heating and air conditioning manufacturer is going to keep 1,000 jobs in Indiana and not move them to Mexico as previously announced.
After Trump was elected, Ford also decided to keep the production of an SUV in Kentucky instead of moving it to Mexico.
As far as impact on the economy, the jobs are rather minimal. To the people that work in the factories saved by Trump, the jobs are very important.
The message that our economy is set to rise is resonating around the country and in the stock market.
If the Trump spending euphoria continues through the holiday season to wrap up the fourth quarter, Obama could have his best economic quarter in eight years. Something he can thank the president-elect for before ObamaCare is repealed in the first 100 days of Trump’s presidency.
Do you think Obama or Trump is fueling the “boom” in the economy? Let us know your thoughts in the comments below.
