The Stock Market Is Not the Economy, But…
The price of a share of stock is a function of the expectations that buyers and sellers have for the underlying company’s future earnings. The strength of the economy, at least as it’s experienced by the average person, is the capacity to earn enough so as to be able to purchase goods and services at affordable prices. Though about half of all American households own stock, the top 10% own 84% of it, and the top 1% owns just over 50%.
Having said all this, the Dow Jones Industrial Average, one of the key stock indices, is down over 300 points right now, based on news that the American manufacturing sector has turned in its worst report since the Great Recession in 2009. The problem isn’t so much that we can’t build stuff; the problem is that we’re having trouble selling the stuff we build. Taking that one step further back, we get to the trade war with China that is damaging both economies with roughly equal intensity.
As a guy who likes to make predictions (that often don’t materialize), I’m going to say that the trade war is close to an end. The garden-variety Trump supporter isn’t a genius, but he knows if someone’s buying his soybeans, or if the price of the raw materials he needs are making his products noncompetitive in the market. He’s willing to believe what the president tells him, i.e.,, that his real problem is undocumented Mexicans picking strawberries or Obama’s coming for his guns or corrupt scientists and the climate hoax, or Hillary’s emails or Joe Biden’s son–but sooner or later he’s going to figure out a trade war with his largest trading partner may be causing some of his heartburn, and he’s going to be angry, thus my choice of the pic above.
The only thing preventing the FBI from taking Trump away in handcuffs after an immediate and decisive impeachment is the ferocious support he has from his base, and he’s smart enough not to flush it further down the toilet with policies on a subject about which he knows almost exactly zero that are generating misery for the working class Americans who still, miraculously, believe that he’s the Second Coming of Christ.
Craig,
What on earth are you talking about? It’s kind of sad you are hoping for further hurt to America and the American people simply because the economy is proving astonishingly prosperous and resilient under the guidance of a man you loathe.
America has been in a trade war with China for 25 years and losing heavily. For the first time in more than quarter of a century, a US administration has started to fight back.
President Trump is beginning to slowly gain ground against what previous seemed an unstoppable Dragon that had to be feared and cravenly appeased.
The Dragon is far from beaten, that will take decades, but for the first time the Dragon is licking its wounds and counting the cost of US resistance.
Instead of thanking your lucky stars that as an American your President is finally taking shred and calculated action for his nation’s future. Instead, you sneer and seem eager to collaborate against American interests, just as long as sweatshop labour and anti-environmental industries make the imported niceties of your life, a little cheaper.
Trump voters know what the President stands for, they share his vision. More, they are patriotic enough to share the pain for America’s gain.
“The only thing preventing the FBI from taking Trump away in handcuffs”, is, firstly he hasn’t committed any crime, and secondly, most of the Obama era FBI senior officers are too busy hiring lawyers desperate to delay being led away in handcuffs themselves!
Remember, the more you excessive your rants, the more people see the President as reasonable by comparison.
For the Democrats, attempting to impeach a sitting President this close to an election, will prove disastrous. But such is the hysteria they can’t help themselves.
Kamala Harris advocated on CNN that during the process of impeachment and the election, The President’s Twitter account should be suspended. CNN applauded this advocacy, but asked if she were serious, Harris replied she was, and “had ‘people’ looking into how it could be achieved”.
Harris is outraged the President has nearly 70 million twitter followers.
It may just be a co-incidence but Harris later held meetings with certain silicon valley activists, ex-FBI and Intelligence Agency electronic surveillance operatives.
For a sitting US Senator to seek the curtailing of political enemy’s First Amendment Rights should bring swift condemnation from all freedom loving US citizens,
But not apparently among today’s leftist hypocrites.