Comments by "" (@TheDavidlloydjones) on "Liu: Market expectations have come down to earth" video.

  1. The Obama-Yellen recovery from the GOP debacle of 2008 ended when Janet Yellen left the Fed. The last day of her term was January 31, 2018, and the Dow was at 26,700. It dropped sharply over the weekend, has touched that peak a couple of times since, but has been running on fumes plus the fact that Jay Powell is a competent guy. Yellen Lite. Trump has goosed the market upwards a couple of times with a.) massive tax relief for the rich, and b.) tax relief for the "return" of corporate profits "held" abroad. Those are bookkeeping quotes: these were called foreign as long as that relieved them of American taxes. Trump gave them tax relief and the companies that own them stopped calling them "abroad." Both of these reliefs are sensibly called sugar highs for the economy. The money released has very largely gone into corporate stock buy-backs. This artificial stimulus is probably the major reason Trump's Dow has not crashed back to the 6800 where George Bush II left it. The gyrations Liu is talking about? It's called a tug-of-war, Trump versus America. Trump is no ignoramus. He knows a great deal. Most of it is wrong. For economic advisors he has Peter Navarro, a fool; Wilbur Ross, certainly a crook very probably in bed with a whole lot of Russians; Larry Kudlow, a TV personality addicted to crazy economic cults and always wrong about everything; Steven Mnuchin, a failed Goldman Sachs financier; and a whole lot of random greedheads. Many of the greedheads have enough brains and mother wit to be appalled by Trump. They are happy to have their taxes cut, and don't mind at all if the courts are filled with half-wits. (The bad news for them is that there is a solid minority of Federalist Society members who have actually read the constitution, and most of them actually support it. But you can't have everything, can you?) There's also a real world out there. Tariffs are bad for the economy. Threatening people is bad for the economy. Smashing alliances is bad for the economy. So the war continues, hurting not just the US but the whole world's economy. Sad.
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