Trump fans seeing Reagan economic redux

(FILES) This file photo taken on October 31, 2016 showsUS Republican Presidential nominee Donald Trump addresses supporters at Macomb Community College in Warren, Michigan.President-elect Donald Trumps threats to retaliate against US companies planning to shift operations overseas constitute a new risk for multinationals, but may not sway those already planning to offshore jobs. Trump laid down the gauntlet on December 1 at a campaign-style rally after striking a deal with Carrier to keep about 1,100 jobs in Indiana in exchange for 7 million in state tax incentives over 10 years. / AFP PHOTO / JEFF KOWALSKY

WASHINGTON: Donald Trump is no Ronald Reagan. But then again, neither was Reagan.

Stocks and the dollar have risen since the Nov 8 presidential election on hopes that Trump’s advocacy of big tax cuts, increased defence spending and deregulation will usher in another period of prosperity. The coming change will be a “profound president-led ideological shift” akin to Reagan’s, according to Bridgewater Associates founder Ray Dalio.