When you criticise President Trump you are often met with "... but he's good for the economy!"
Yeah, right, eh?
While he was very fond of bragging about how the Dow Jones improved under him early on in his presidency, I always suggested at least part of the increase was due to the healthy economy Obama had managed to create despite the dumpster fire he inherited from Dubya. And as Trump's own policies of trade war and subsidizing dying dinosaurs lkike the coal industry, the numbers are beginning to decline.
This link provides a fun interactive graph where you can compare the Dow Jones index performance under different presidents.
https://www.macrotrends.net/2481/stock- ... bhCx0-3NFw
The default gives you the last three (Dubya, Obama and Trump) but you can add (or delete) other presidents by clicking on their name.
For fun you can add Clinton and see how he blows everyone else out of the water. But I digress.
In the first twelve months of Trump's reign the Dow Jones increased by 31.6%, which is rather impressive. The number for Obama's first year was 25.8, Clinton 20.2 and Dubya -8.9. But as I said, Trump was in part riding the wave created by Obama. The Dow Jones climed 42.5 percentage points in Obama's last twelve months! Remember, he was off to a slow start due to the disaster he was handed by Dubya. The economy was still shrinking into mid February of his first year.
But since those first shiny twelve months of Trumpism, things have not gone so well. The Dow Jones is now 29.5% higher than when Trump took office. That's right. Over the last 194months the Dow Jones has been at a standstill, or even dropped slightly, due to the uncertainties in the market created by Don's rule-by-twitter leadership. At the same point in their presidencies Clinton had reached 39.3 and Obama a rosy 45.2 (Dubya was in the basementg with -13.5%).
Seen over the full eight years, Dow Jones climed a soaring 228.9% under Clinton (his wife had probably brought more of the same business friendly politics) and an almost as good 148.3% under Obama. Under Dubya it shrunk 26.5%.
But what about Reagan, you say. Sure. Under Reagan the Dow Jones increased a whopping 147.3%. Virtually as good as under Obama. Not quite, but pretty close. It's fair to conclude that Reagan was almost as good for business as Obama. But of course not as good as Clinton.
So how about the Don? It's early to say, of course, but it seems he has lost the momentum he had when Obama handed him the car keys. It's puttering along, but if he keeps insisting on these trade wars, he'll certainly mess up the efficiency of the market economy.
I'm an optimist, so I doubt he'll manage to mess things up quite as bad as Dubya.
Maybe he can reach the 40.6% of Gerald Ford or 41.3% of George HW Bush?
If he insists on escalating the trade wars it'll probably be Dubya, Nixon or even Hoover territory though.