December 28, 2018--How Now, Dow Jones

Talk about behavioral economics where individuals making purchases such as a house, overpay because they are emotionally drawn to it and ignore running the numbers carefully because if they did they might discover there are rational reasons to negotiate a better price or keep house shopping even though by acting that way with their best economic interest in mind they might not be able to make a deal for a house they "love." 

Love? Letting emotion take control of a decision to buy a house of one's dreams is the very definition of behavioral economics. 

House of one's dreams? You get the point.

This is why, I suppose, that I was disappointed two days ago when the Dow Jones' measure of stock prices soared by over 1,000 points. An all-time one-day record. I should have been elated since this meant that the value of our investment portfolio did very well indeed. 

I realized I wasn't happy because an historic surge such as Wednesday's was good for Trump who is claiming that since he was elected the market reached record highs. He sees the Dow as the litmus test of his presidency.

But wanting nothing but bad news for him so he will either resign or lose in 2020, I allowed my feelings to subvert what was in my own best economic interest and thus, I spite of my good fortune, I was unhappy. 

In my case this might be considered behavioral politics.

And, by the end of Thursday the Dow was up an additional 260 points. More personal good news for me but I am still feeling unhappy that Trump will have more to brag about. 

But yet, fair and balanced, I need to note that since Election Day 2016, the day Trump was elected, the Dow, from that day through record-setting Wednesday, is up 2,633 points, or 13.3%. The Trump Rally. Ugh.

*   *   *

Then there was Trump's surprise trip to American troops stationed in Iraq.

Shamed into it, Trump finally got around to flying there so he could spend 20 minutes on the ground with American troops deployed in a war zone.

Mission accomplished.

Melania accompanied him to hold his hand and from the bulky look of him he was clearly wearing a bombproof vest under at least a size 65 leather jacket.

While there, someone asked if he had any safety concerns, like the ones he had during Vietnam time when his daddy got him declared 4F, unable to serve, because of a bone spur in one of his feet. A spur, incidentally, that did not deter him from playing football.

About concern for his safety, he said-- 

I had some concerns for the institution of the presidency because--not for myself, personally. I had concerns for the first lady, I will tell you. But if you had seen what we had to go through, with the darkened plane, with all the windows closed, with no lights on whatsoever, anywhere--pitch black. I've never seen it. I've been in many airplanes--all types and shapes and sizes. I've never seen anything like it.

Concern for the institution of the presidency? Spoken like the commander-in-chief he is.