“The stock market is quite brilliant,” Donald Trump pronounced this week.
The US president, flanked by some of his most senior officials, was speaking at the G7 meeting in France about his deal aimed at securing peace with Iran. “Every time we talked about the possibility of peace, the stock market shot up like a rocket ship,” he said. “It never went down . . . The stock market is more brilliant than anybody there is . . . other than me of course.”
On several important points here, the president is precisely right. Stock investors really have cracked the code, figuring out how to navigate around his sometimes scattergun pronouncements.
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