The State of the Union is a Mess
Trump said on Meet the Press recently that “the State of the Union is a mess.” While some are concerned about China’s economy slowing and having a steep selloff in their global markets, Trump dismisses it. Trump has adamantly discussed at every rally how China manipulates their currency to have an advantage over trade and markets. He said “they’ve done it before, they’ll do it again.”
He also dismissed the labor numbers put out on Friday by the US Labor Market. Trump is spot on when he says that does not include people who have given up looking for work and want a job. And it doesn’t include people who are working part time who want full time jobs with benefits. But the labor department dismisses Trumps concerns stating that he is including retirees and people who don’t want to work.
Trump is more qualified to assess the economy than our government is because he is right in the thick of it. He has millions of dollars invested all over the world from his business and he has thousands of employees. He has participated directly in US and other markets for decades. He knows when the economy is up and when the economy is down. He knows when to buy, he knows when to sell. Trump has had to layoff employees himself due to the failed economy over the last several years. Labor is the most expensive liability a business has. When the economy tanks, that is the first option.
And unlike other wealthy people like Warren Buffet who are going to leave their wealth to philanthropic causes when they die, Trump said he is old fashioned and is leaving it all to his family to keep his business going. A business that will continue to employ people.
But mess or no mess, Trump is the one to right our ship and keep looking forward.