Donald Trump now owns ten of the worst twenty single day declines in the history of the stock market. This has all happened since the 2017 tax cut that funneled massive amounts of wealth to the stock market class.
Be skeptical of the claims that Wall Street is fundamentally the same as Main Street. If anything, the volatility of the stock market is likely because large amounts of capital are flowing into and out of stocks with no regard to the underlying value of a company or the health of the economy.
However...massive inequality is not healthy for the economy. Trade wars are not healthy for the economy. Economic expansions always end.
We will be in a recession by 2020.
1 comment:
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