It's often said that the stock market is not the real economy, meaning: Wall Street traders make educated guesses about the future, so don't read too much into this or that moment's results.
But if the stock market isn't the real economy, it's real life for tens of millions of Americans who have 401(k), IRA or other retirement savings. If you're one of those people, check your mailbox or online account for second-quarter results to get a satisfying jolt: Your balance is rising. Because the economy continues to grow, and add jobs at a fast clip, 10 years into a record expansion. At this juncture, the stock market reflects the real economy.
It's not just the wealthy who benefit. Gallup polling suggests that about 54 percent of Americans own stocks either directly or via mutual funds, pension accounts and other retirement kitties.
By cutting taxes and removing regulatory burdens, Trump's administration has given private sector business owners confidence to invest in future growth--and to hire more employees. If he can resolve trade fights that have hurt Illinois farmers and raised the cost of doing business for many Illinois companies, he'll help the economy and the markets extend their growth curves.
Editorial on 07/10/2019
Print Headline: Boom time