I was talking with a fellow at the coffee shop this morning and I happened to mention the economy has grown almost $3 trillion since Trump was elected, and the stock market keeps breaking record highs every day. I also mentioned that the media, including the "venerable" New York Times, has failed to mention any of it, as their agenda does not include giving Trump credit for anything.
He said, "So what. I don't invest in the markets, so it doesn't affect me."
Too many uninformed people believe that. They think the market growth only benefits those that play the markets. Not true. Not even close to true.
When people invest in the markets, they are "loaning" their money to businesses. With $3 trillion being pumped into businesses across the country, and even around the world, those businesses can hire more people (job creation), research, develop and produce more and newer products (consumer goods). This increase in production and hiring results in more taxes being paid into the United States Treasury, which helps fund Social Security, Medicare and many other programs.
The hiring also removes people from food stamps and welfare, saving taxpayers a bundle.
And, of course, as companies grow, the investors on Main Street receive a profit they can spend in their communities.
So the next time you hear someone complain that a growing stock market has no effect on him or her, you can set them straight.
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