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Trump Is Good for the Markets

Trump Is Good for the Markets

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Sunday, 16 August 2015 12:56 PM Current | Bio | Archive

For as long as I can remember, there hasn't been a real difference between Republicans and Democrats when it comes to the economy and supporting a free-market.

America has prospered despite every president every year spending more money than the previous year. That spending increased the size of the federal government far beyond what would have been expected from inflation or population growth.

The United States has been led by establishment politicians.

Oh, I can hear it now. "But Reagan was different," and then the mantra about "the Reagan Revolution."

Baloney.

Even Reagan didn't live up to the Reagan principles.

Every government agency and program expanded almost exponentially.

Yes, he cut the tax rates when he got into office. Then just as quickly, the tax burden on every taxpayer went up and stayed up.

Remember the 1987 Tax Reform Act?

It didn't reform squat.

It raised the tax burden, wiped out the saving and loan industry, flushed the real estate markets down the toilet and made fortunes for the government insiders who, like vultures, and got the remains of the real estate properties handed to them on a silver platter by the Resolution Trust Corporation. Remember that?

Iran and the Contras. Don't get me started on the rise of the fundamental Islamism under Reagan.

Then came Bush, Clinton, Bush, and Obama.

William Simon's observations about the fundamental dysfunctionality of the federal government in his book, "A Time for Truth," written in 1978 was true then and it is even truer now.

This is 2015 and the situation is the same only worse.

And in this context Donald Trump, a 69-year-old billionaire, who has created the public perception as a builder, creator, and brand marketer extraordinaire, comes onto the political scene.

When he says he can't be bought, people believe him.

When he says that he will put into place experienced people who can leverage American economic strength to put the United States on top, create the environment for private industry to create jobs, people believe him.

When he says he is is pro-choice and will be the best president for women and simplify the tax system, people believe him.

When he vows to support Israel, build the wall, re-build the military and stand against the Islamist threat, people believe him.

When he promises to hire smart people and fire incompetents, and do what is in the best interests of America ... well, people believe him.

He talks and sounds like regular people when they talk to their friends and neighbors.

He is profoundly the poster child for the brash, unfettered, politically incorrect American way of life that when let loose from the established political stranglehold of Washington, D.C., can compete with every country of the world and come out on top.

Trump - or someone like him - as president is good for the markets.

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Kleinfeld
For as long as I can remember, there hasn't been a real difference between Republicans and Democrats when it comes to the economy and supporting a free-market.
donald trump, stock markets, economy, investors
475
2015-56-16
Sunday, 16 August 2015 12:56 PM
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