General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Trump Claimed the Stock Market Has Added $4 Trillion in Value Since His Election. It Hasn'
Lucinda Shen/Fortune
8:28 AM ET
President Donald Trump has voiced pride over the stock market gains in the United States, but his math for those gains is quite a bit off.
In a speech he gave to the Three Seas Initiative in Warsaw, Polanda group of countries committed to improving economic ties between the United States and ex-Communist countriesTrump pointed to the stock market when explaining that the U.S. is doing very wellvery strong. He said: Weve taken off restrictions and people are really moving hard. So when I say that the stock market is at an all-time high, weve picked up in market value almost $4 trillion since November 8th, which was the election. $4 trillionits a lot of money.
While the stock market has hit multiple new highs since November, thanks in part to a Trump Bump stemming from the presidents promise to lower corporate taxes and roll back regulations, its not as high as Trump may think. His speech suggests the market value for the S&P 500 is now about $22.4 trillion, up roughly 22% since the elections. But in reality, the S&P 500 has gained roughly $2.4 trillion in that time period, an increase of 13% in market cap to reach $20.8 trillion, said Howard Silverblatt, a veteran market watcher over at S&P Dow Jones Indices.
Its not a poor performance, but it is certainly less than the presidents $4 trillion figure.
More:
http://time.com/money/4848763/president-trump-claimed-the-stock-market-has-added-4-trillion-in-value-since-his-election-it-hasnt/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+timeblogs%2Fswampland+%28TIME%3A+Politics%29
dalton99a
(81,730 posts)as usual
ck4829
(35,100 posts)riversedge
(70,580 posts)yallerdawg
(16,104 posts)The only way we can be sure to have some semblance of true, reliable numbers or facts on any subject is to dismiss whatever the Liar-in-Chief reads off a teleprompter or pulls out of his ass!
Response to Judi Lynn (Original post)
Not Ruth This message was self-deleted by its author.
FBaggins
(26,823 posts)It's a significant portion of it (I'd guess ~75%), but not the whole thing.
Depending on the relative performance of the remaining stocks, it might very well be over 3 1/2 trillion.
BASE
(44 posts)He doesn't like to boast about things that can easily be proven true or false.
I remember reading something earlier this year stating we were up around 2T, based on Russel 3000. It's what it will be worth in 2020 that I'm worried about.
malaise
(269,498 posts)he's a pathological LIAR
Gothmog
(146,202 posts)Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.