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IPFS News Link • Investigations

Now that the Dow has Dropped, Can AG Pam Bondi Answer Questions?

• Ron Paul Institute - Adam Dick

There she was complaining that the House Judiciary Committee members asking her questions related to the topic of the hearing — oversight of the Justice Department — at which she was testifying should instead be talking up the economic miracle brought about by President Donald Trump. This achievement was demonstrated, Bondi asserted, by stock market indices rising, including the Dow Jones Industrial Average (Dow) rising above 50,000.

Bondi, proceeded in her comments to assert regarding the Dow reaching its new high that "they said it couldn't be done in four years, yet President Trump has done it in one year."

Of course, there are many factors that cause stock prices to go up and down, not just the actions of one person — even when that person is the president of the United Sates. Also, it is an often repeated mistake to equate a high or rising stock market with health of an economy. Indeed, all time highs in stock markets are a regular occurrence in the transition to big economic downturns, and those downturns are often accompanied by stock prices returning to lower levels last seen years earlier.


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