Even on Election Day the polls showed an overwhelming majority of Americans believed Hillary Clinton would emerge the victor – even those who voted for Donald Trump.Clearly the conventional wisdom was wrong, as was the conventional wisdom of the consequences of a Trump victory. Take the expert predictions on how the financial markets would respond to a surprise Trump victory as an example. British bank Barclays predicted the S&P 500 would lose 11 to 13 percent if Trump won, but would rise two to three percent if Hillary won. Citibank predicted a five percent drop-off under a Trump victory. J.P. Morgan predicted a three percent rise following a Hillary victory, compared to markets “falling further” if Trump won. And they were all wrong – in 21 trading days in the month following the election, the Dow Jones Industrial Average closed at an all time high during 13 of those days.
Whether it be the media’s gloom and doom wearing off on people, or simply a reflection of what people really wanted all along, but the public is warming to Trump – even in liberal states.As Breitbart reported: As voters, Californians rejected Donald Trump. As consumers, they love him. The Conference Board, which measures consumer confidence, reports that consumers in the Golden State are more confident that they have been since 2007, before the Great Recession.
The Orange County Register notes: The Conference Board’s consumer confidence index for California rose in December to its highest level since October 2007. This was the first month the continuous polling that tracks shoppers optimism in eight big states and across the nation had fully reflected Trump’s upset win in the November presidential election. Exit polling showed the economy’s future was a major decision-changing topic for presidential voters across the nation.
The Conference Board also reported a surge in consumer confidence nationwide, as the Conference Board Consumer Confidence Index®, which had increased considerably in November, posted another gain in December. The Index now stands at 113.7 (1985=100), up from 109.4 in November.While it’s not entirely clear that this confidence boost is entirely due to Trump (as the index actually fell in some states that voted for him, such as Pennsylvania), Trump made it clear who he was thanking for the new record…
The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald!
— Donald J. Trump (@realDonaldTrump) December 28, 2016
We’ll see if he can keep it up – no one seems to be tired of winning just yet.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]