LETTER: Dr. Trump is really a quack
In response to Thursday’s “Dr. Trump” letter in which the writer wrote that seeing “the Dow Jones at an all-time high just might be the sign that he is writing the right prescription.” This is a true example of selective memory.
When President Barack Obama took office, the Dow was at 7,950. It bottomed out at 6,450 a few weeks later due to the lasting effects of the financial crisis. Over the course of his eight years in office, it increased about 140 percent, resulting in many all-time highs. Also, Mr. Obama “inherited” an employment rate of nearly 10 percent and it’s now about 4.9 percent.
In order for “Dr. Trump” to enjoy similar success in the stock market, the Dow would have to hit about 50,000. In the unlikely event that this occurs, you might not enjoy the results unless you’re an executive or large investor in Goldman Sachs, seeing as how this is where most of the money will be directed through tax breaks and repeal of financial regulations (the very ones that aided our recovery from the 2008 crisis).
The “doctor” is a quack.
