Aw, yes, that gloom and doom continues to surface with the Trump economy. Is there any reason that you people cannot admit when wrong?
Stocks end week at new highs as good GDP data offsets poor earnings | Fox Business
Let the gloom and doom continue
Let me bring reality to your post.
I agree that that the Trump Presidency has made things economically better. The tax cut and deregulation that was brought about by his administration has certainly been a boost. In this respect, your post is dead on right.
Nonetheless, history has proven that more often than not the decisions made have future consequences attached and those have to be considered because booms that are temporary, followed by consequences that are dire, cause more damage overall and to the future of the country than the temporary boom brought about. This was certainly the case in the 2003-2007 period when things were humming beautifully and then collapsed to the point that if it was not for Bernanke and Obama, our financial system would have collapsed.
Had there been more doom and gloomers in 2006 and early 2007 that collapse might have been prevented.
What is happening right now is different from that period of time given that there is no mortgage bubble. Unfortunately and something that cannot be disproved, deregulation brings about excesses and abuses given that corporations by nature worry only about the stock price and the profit of their companies and not the consequences that occur because of their decisions to the environment, to the users of the product, and to how it all affects the future of the company itself. These consequences often take years to be evident but they will come for sure because you cannot allow greedy people to control their own urges for more at any cost.
In addition, because of the tax cut and deregulations, our debt has increased to the highest it has ever been. Do you think there are no consequences to debt? what happens when you personally spend more that you make, can you continue to do that forever and not suffer consequences?
Last but not least, the Stock market made new all-time highs in October and though the stock market is now back to those highs and in the case of the NASDAQ very slightly above, it still means that fundamentally things are not better than they were 6 months ago and that shows that growth is not as good as it was the previous years. That suggests that the good things are starting to be not as good as before.
Enjoying all of this is great but it is now time to look at the consequences that will come. When it occurs is not known but one thing for sure, we are closer to the consequences than we were 2 years ago when Trump took office and given that many of his decisions are starting to cause problems, such as the Trade War that has already cost the nation in excess of $40 billion dollars and there is no guarantee that when the trade war ends things will be economically better than they were before.
Thinking of the future is always necessary because if one doesn't think of the future, protections against the consequences cannot be obtained.
I hope this answers your question and gives you something new to think about.
