Politico – Economy to dominate the stretch run

Excerpt from…

Economy to dominate the stretch run



Economy to dominate the stretch run — MM has written this before but it really came into focus this weekend as President Donald Trump and Vice President Mike Pence began an assault to convince Americans that the economy is roaring back and next year will be a blockbuster, while suggesting that a President Joe Biden would crush the markets and economy.

Trump tweeted: “Biggest & Fastest Financial Recovery In History. Next year will be BEST EVER, unless a very Sleepy person becomes President and massively raises your taxes – In which case, CRASH!”

And almost no one on Wall Street outside of hyper-partisans thinks Biden would tank the market or the economy. Cumberland’s David Kotok emails: “S&P 500 History: Since WW2 (1945), stocks do better when WH, House and Senate controlled by one party. Republicans average return 16%. Democrats average 14.3%. … Trump tweet has no history to support it unless he wins big, keeps R-Senate and House goes Republican. Hard to see how that happens.”

Read the full story at Politico: https://www.politico.com/newsletters/morning-money/2020/09/08/economy-to-dominate-the-stretch-run-790277

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