Not Trump's EconomyWho's to blame for the stock market drop? Peterffy told CNBC, "if the Democrats take only the House," the founder of Interactive Brokers said, "the market could face a 2% or 3% decline in equity values." For the last couple of years, there have been a lot of people who have said that this is still the Obama economy. Now, they are saying that Trump’s economy that has finally kicked in. This is the third time that they've made the mistake of saying this, only this time the downturn in the NYSE and NASDAQ has been prolonged enough, so that they're hedging their bets that it keeps falling. People are concerned and it's legitimate to be concerned about Trump entering into a war with his own Federal Reserve. Specifically because if the Fed has as much power as most people think they do, they can collapse the economy fairly quickly by raising interest rates. Here's the funny part. The Fed and all of these economists are coming out and saying that the economy is strong enough so that they can raise interest rates and it's not a problem. In other words, they 're saying that over eight years of Obama, when they left interest rates alone over and over and over again, they didn't have confidence in the economy? So, in other words, all of these leading economists, and indeed the Fed itself and the Democrats are trying to say that they did not have faith in the Obama economy? They do however have overestimated faith, it seems, in the Trump economy.
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