President Trump said today that record stock market indices indicate an improving economy.
Since the current bull run began before he ever did anything at all, the Trump rally is a laughable sentiment.
To be more technical, looking at a 6-month chart, while strength of the DJIA was falling, recently, the index did not fall below its 50-day MA, and its MACD still showed a positive trend. Despite the positive indicators, to buy in, there is an extreme price to be paid. The risk is at record levels and rising.
Saying that record equity indices indicate an improving economy is, technically, just a lot of bull.
Using his logic of identifying the efficient cause, President Trump can also claim his presidency, having preceded it in time, will have caused the sun to eclipse. Technically, the temporal sequence would be correct, but the identity of the efficient cause would be a pathological psychosis — the distorted logic characteristic of wanna-be-king, bourgeois elites who profess knowing the Objectivist truth of our “natural identity.”