In Times Of Uncertainty, Some Things Are Certain! One Man’s Opinion….
Guest Post by Dennis Miller at Miller On The Money
Like it or not, President Trump was elected on a platform of major economic reform; disrupt the status quo. The daily frenzied media tariff melodrama (trying to keep score) is wearing me out!
Chuck Butler regularly reminds readers about the Smoot-Hawley tariffs causing a major trade war deepening the Great Depression. Hoover thought tariffs would help protect American jobs – didn’t listen, and wasn’t interested in trade renegotiations.
What is certain?
In times of uncertainty, there are certain things we can count on….
Forked-tongue politicians of all flavors are a constant. Politicians create problems, then scream it’s their opponent’s fault; elect them and they will fix the problems they created. I give zero credence to politicos historically championing tariffs now screaming about Trump’s tariffs.
Spike Cohen nails it:
“Government is a collection of some of the dumbest and most dishonest people among us, empowered to make decisions that they exempt themselves from, and pay for all of it by running up debts for the rest of us to pay off.”
The media goes crazy. If you want to raise your blood pressure, channel surf the nightly news. <Click> “THE SKY IS FALLING – TRUMP IS DESTROYING THE WORLD! <Click> “THEY DON’T GET IT; TRUMP IS SAVING THE WORLD!”
They’re both wrong while screaming the other side is corrupt, dishonest, stupid – whatever names and talking points are the flavor of the day.
Mark Twain warned:
“If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re mis-informed.”
The market overreacts. Market greed and fear is being deliberately fueled by media hype. Traders capitalize on panic selling, shorting the market, and then buying back at lower prices. Sadly, too many politicians want to jawbone us into another Great Depression to enhance their political power.
There are plenty of opinions. The challenge is trying to separate logic from political propaganda. In 2016, anticipating a Hillary Clinton presidency, political hack economist Paul Krugman wrote how deficits didn’t matter. When Clinton lost, he wrote, “Deficits matter again.”
All opinions are a guess, perhaps some more educated than others. Investors have to hedge our bets. Generally, things never turn out as well as we hope or as bad as we fear.
Thinking things through
Since the tariff roller coaster began, I’ve been flattered when readers asked my opinion. I’ll share my feelings, however, I’m not an economist (a good thing????), and didn’t spend last night at a Holiday Inn Express.
I’m not pushing any political agenda, so here’s – one man’s opinion….
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Author: Dennis Miller
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