Until you got to this tax and spending deal a year ago, it was one of the most hated bull markets. The markets steadily climbed one wall of worry after another, and the problem was that the economic data did not confirm it. –Bloomberg
That’s right. The market was not rising for the past ten years due to a healthy underlying economy. On the contrary, the market was rising due to the Federal Reserve pumping out stratospheric amounts of thin-air money, all of which needed somewhere to land.
Trump takes credit for the economy’s charade, too. It’s all smoke and mirrors, folks!
Source: Fed Med is Dead: How We Went from Fake Recovery to Freefall – The Great Recession Blog