As an investor, I constantly look at all kinds of numbers such as employment, trade, interest rates, deficits, etc. The latest employment numbers I noticed Trump is bragging about are 3.5 %, which I would have to applaud him for, except for the accompanying wage growth number that he failed to disclose was zero. OK, so what does that mean? It means that all the jobs created thus far have been minimum wage and it means that more people are working two and three jobs to get by. This is hardly anything to brag about.
For those that don’t follow all this, I would like to mention the following facts. Most, if not all, of the coal companies have failed under Trump, despite the huge bailout attempt. Over 600 dairy farms in Wisconsin have closed due to Trump’s tax policies and tariffs. The corn farmers have lost $3.5 billion due to Trump’s ethanol policies. The soybean farmers are costing us $30 billion in bailouts due to the tariff war with China, with no end in sight.
If you look at the big picture, we also have 78% of our population working paycheck to paycheck who cannot come up with $500 in an emergency. We also have 30 million people with no health insurance (that he promised to correct on day one) and we also have a mounting trade deficit and a national debt that is out of control due to Trump’s policies (Trump campaigned on lowering the national debt). Student debt ($1 trillion) and defaults are at an all time high and household debt is at record levels. Trump gave corporations a $1 trillion tax cut in addition to $93 billion in subsidies. If corporations are doing so well, why do they need subsidies?
All this from a president, who as a businessman, has filed multiple bankruptcies and has a record that no bank in America will loan him or his family money. Trump seems to think that if you repeat a lie enough times, some people will believe it and some have, unfortunately. For those of you sitting around drawing Social Security, your pensions, and are taking distributions from your 401k and have Medicare for insurance, life might look pretty rosy right now. But to those in the workforce, it might not look as good trying to find a steady job that pays the bills.