Author and media personality Christine Romans reported that all the odds are favoring to the United States stock market.
She said that since President Donald Trump assumed the presidency; the S&P 500 surged to 32%. On the other hand, America’s Nasdaq also recorded a 47.5% growth in the second quarter of this year.
With this recent market growth, the reporter could not help but compare the performance of President Trump with the former president Barack Obama. She stressed that President Trump’s effort to save the U.S. stocks is incomparable.
Almost all aspects of the U.S. economy is doing well. The jobless rate in the U.S. dramatically dropped and hit the lowest count in the last 50 years.
Employers also increased the wage in most of the business establishments in the country. Another concrete sign of the stable economy is the citizen’s high spending capacity. To note, mall, fast food outlets, and other business hubs reported an increase in clients’ expenditure early this year.
But despite the commendable performance of the U.S. economy, some are skeptical whether this situation will continue in the long run. They stressed the old Wall Street saying: Bulls don’t die of old age. Some people pointed out that the overwhelming and drastic moves of the government may become detrimental to the people.
The massive tax cut imposed by the government since 2017 is deemed to be one of the worst decisions made by the government. While a lot of companies benefited from the said scheme, this led to dwindling government funds. The government’s deep spending cut and failure to increase the federal’s debt ceiling were also considered as threats to the American citizen.
Romans ended that the federal government must craft more calculated programs and protocols so that it will not compromise the welfare of the people.