It’s another front-pager the Times chucked in favor of a story about a marine monument to Atlantic fishermen, and the “racist” video the President retweeted. “Stocks hit historic milestone as Dow crosses 50,000 points for first time ever.” They are going to need a bigger book to keep track of all the records President Trump is breaking.
In what the confounded experts are calling “statistically impossible” and “clearly some kind of data error,” the Dow Jones Industrial Average sailed past 50,000 points Friday, a milestone that sixteen Nobel Prize-winning economists had confidently predicted would never happen because President Trump’s policies would first reduce the American economy to a smoking crater populated only by unemployed factory workers trading bitcoin for canned goods. CNBC, June 2024 (even before the election):
Sixteen! Sixteen Nobel laureates took breaks from polishing their prizes (which are apparently handed out like candy by Scandinavian Epstein fanboys) to warn us Trump would “reignite inflation.” And … the Dow just hit 50,000, with eggs and gas cheaper than ever. Too bad the Nobel Institute doesn’t have a return policy. Maybe the Committee should create a new category for people who excel at failing upward.
In possibly one of the worst takes in modern media history, only two days ago, the Motley Fool excreted this bit of journalistic vaporware:
The Motley Fool’s grim economic experts did a deep dive into a century of economic data, cranked up teams of AI analysts, crunched the numbers, and predicted with stunning accuracy to the tenth decimal place that there was a 50/50 chance of a market crash. Fifty-fifty! That’s like shrugging and saying, “let’s flip for it.” Some poor nitwit might have invested ten minutes in reading that rubbish; where can he submit a claim?
This whopping story is even bigger than it looks. The day before the 2024 election on November 4th, the Dow closed at 41,794.60. Yesterday it closed above 50,100. That makes nearly a +10,000-point expansion in one year while consumer prices have been mostly flat or even fallen. In other words, the whole Dow climbed +20% higher than it has ever been, in a single year. The last time this happened (excluding recoveries) was during the so-called “tech bubble” in the 1990s. (The bubble never popped. Experts were wrong again!)
President Trump was pleased, as you can imagine, and posted about it often yesterday afternoon, in this vein:
Killjoy commentators and Democrats grumbled about how passing 50,000 doesn’t really mean anything, since it’s just a psychological accomplishment; after all, there’s not real difference between 49,999 and 50,000, which is like telling your wife that being married for 30 years doesn’t really mean anything special since, using logic, it’s just one more than 29.
Another possibility is that tariffs are working, investment is flooding into the U.S., American companies are actually becoming more valuable, and consumer sentiment is much stronger than the “polls” suggest. But don’t wait for corporate media to tell you any of that.
