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The latest spin out of Washington is that stock market declines over the last 10 days are due to Donald Trump’s surge in the polls. Well it is true that Wall Street tends to hate change — even when it’s positive. And if Donald Trump is anything, it is a change agent that will rattle the cages in Washington, and perhaps on Wall Street. Investors didn’t respond at all well to President Reagan until his policies were put in place, the economy rocketed forward, and only then did the greatest bull market expansion in American history get launched in 1982.
Something else is getting missed here. The Hillary Clinton agenda on the economy and the financial markets. Hillary says she has a cabinet full lot of new ideas on the economy. Unfortunately, most of them are really dimwitted.
I’ve identified five of Hillary Clinton’s lousiest ideas that could hurt employment, growth and stocks. 1. Raise the minimum wage to $12 or even $15 an hour. She might as well call this Teenage Job Elimination Act. Even the liberal Congressional Budget Office recently estimated that a $12 an hour minimum wage would reduce the number of starter jobs by as many as one million. Think how much joblessness for teenagers would come from $15.