"Only time – and the market – will tell if Trump has struck the right balance. "

Well, I do not think that that Trump matters a lot. The reaction at the markets did show into the very same direction: does not matter.

What might matter more is the fact of now having 14 straight months of industrial production decline YoY. The longest string of contraction without a recession in 96 years.

Either this is really an extraordinary exception ,or we are already in a non-disclosed recession...

Recession and liquidity-trap might create some panic - paired with an US-election this might have led to such things like a self-declared socialist becoming the next president...

... so, "the markets" have only a few weeks left to make Obama to become the scapegoat of the massive problems lying ahead...