Breitbart economics editor John Carney knows more about business and the stock market than I ever will.
That includes being able to tell what the stock market is predicting.
According to Carney, the market just may be preparing for a Donald Trump victory in 2024.
Fox Business host Larry Kudlow recently asked, "John Carney, smart guy that you are, why is the stock market booming?"
Carney was quick to give credit to Trump's momentum of late.
"People say Trump is getting more likely to get elected every time they’re threatening to indict him, and everybody remembers that the stock market did really well when Trump took office. So, I think people are saying, ‘Yeah, look, that’s happening,'" he explained. Carney went on:
I think there’s also a little bit of interpretation of the retail sales number. People said it came in weaker than expected. It was 0.2 on the headline number rather than 0.3. So, they said maybe that means the Fed doesn’t have to raise as much, maybe we’re going to get a soft landing. I think that’s wrong, but I think that’s what boosted the stocks.
"I’m glad that we’re above where we were before things started to go down because of Biden inflation. That’s what caused the stock market to go down. And now we’re just catching up with that," Carney concluded. "It’s ironic because Biden keeps bragging about Bidenomics, but the Bidenomics is really just us catching up to all the damage that he’s done."
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