Trump is honoured by rising stock prices

I don’t know why at first, but watching Donald Trump tell Fox News in October that because the value of the US stock market has risen by $5.2 trillion since he became president that “maybe in a sense, we are reducing the debt” makes me feel warm inside.

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Eventually I realize that it is taking me back to my early days as a graduate trainee at Euromoney. I had spent my first week dutifully asking impatient and invariably pompous syndicated loan bankers to tell me the fees and margins on the deals they had out in the market. I had no idea what any of this was about and decided to seek help from one of the wise old hands on the editorial desk.

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