Chairman’s Corner by Scott McGraw
Dow 24,000! This is truly an impressive market rally since Donald Trump has been elected. The Dow Jones closed at 18,259.60 on Nov. 7, 2016. As I write this on Nov. 30, the Dow is hovering around 24,250. That’s just 10 points from a 6,000-point gain in just over a year. The talking heads are saying it will hit 25,000 tomorrow if the U.S. Senate approves the tax reform package that is being discussed.
What is happening here? When you listen to the other side of the aisle, Donald Trump serving as president is the end of the world. I don’t see any evidence of this. I think we need to put his head on every coin that the United States mints from here until eternity. More that $5.5 trillion of wealth has been created in the stock market through this meteoric rise over the past year.
Yet all we have heard in the news is Donald Trump’s inappropriate tweets and misstatements he has made in the press. Just this week, he made a comment in front of several Native Americans referring to Sen. Elizabeth Warren as Pocahontas. How can the continued insensitivity of our president not affect the lives of its citizens?
The main stream media would lead us to believe there is a constant stream of issues aminating from Trump’s Twitter feed that will change the quality of life we enjoy as Americans. How did we get to this point in this country where the media is so disconnected with reality? Why are we not hearing about real issues in our media that do affect us here in Michigan and even here in Kalamazoo? Why can’t even liberal readers and viewers of the media see through the lack of content that has any relevance to us?
I guess more importantly, how can we be so divided in this country that half our population has one myopic view and the other half is relatively unaffected from this sensationalistic coverage? Obviously, the “market” is racing to break records and sees something to build from on the horizon. Is it just tax reform that is causing this? Is it the pullback of government regulations that freeing up businesses to achieve financial results unencumbered from increasing red tape and bureaucracy?
The point we need to learn from here is that the political correctness screaming at us from the left isn’t necessarily making the impact on selected people’s lives as they would like us to believe.
Does that sound familiar? I think Donald Trump spent the 2016 campaign cycle trying to tell us that very thing. And what about his crass behavior over the past year or more? Evidently, it doesn’t matter. Tweet away, Donald. And thank you for having the courage to run for president.