White House top economic advisor Larry Kudlow says the reason financial markets have not been phased by the recent negative headlines involving former associates of President Donald Trump is due to the robust economy.
The bull market on Wall Street reached a record on Wednesday becoming the longest running in U.S. history, during the same week the S&P 500 hit an all-time high, CNBCreported.
These numbers came despite a federal jury in Northern Virginia reaching a guilty verdict in eight of the 18 counts of bank and tax fraud charges brought against former Trump campaign chairman Paul Manafort.
That same day, Trump’s former personal attorney Michael Cohen pleaded guilty to eight federal criminal counts, including tax evasion, bank fraud, and breaking campaign finance laws regarding payments to two women on behalf of Trump.
Kudlow told CNBC the strong economy is overcoming any negative impact these issues may have otherwise had on the markets.
“The economy’s everything when it comes to markets and confidence, and I think that markets frankly look through all these various political issues,” he said. “There’s no change in policy coming, that’s what really matters. Keep your eye on the ball, and I think the markets have done a good job.” – READ MORE
[divider][/divider]For months, the Trump economy has been known for soaring stocks and employment ecstasy. Our taxes are lower, our 401(k) funds are higher, and America’s labor market is as strong as ever.
Now, even the liberal media cares to admit it — in their own backhanded way. The Washington Post –– long consumed with anti-Trump hit pieces and the wasteful, never-ending Mueller investigation — recently ran with the following headline: “The U.S. Economy is Thriving.”
The Post’s economic correspondent, Heather Long, admits “unemployment (is) closing in on a 50-year low, stocks (are) near record highs, and growth (is) picking up.”
Of course, she devotes even more ink to the looming “blue wave” and President Donald Trump’s supposedly slumping popularity, but you can only expect objective reporting for so long. It’s not always what the left-leaning mainstream media says; It’s how they say it. And they’re struggling to find ways to criticize Trump.
Bloomberg’s analysis of the booming economy — “The Trump Economy is Strong. So Why Exaggerate?” — acknowledges its existence, and then claims Trump is somehow praising it too much. In columnist Justin Fox’s words: “GDP growth is accelerating. Jobs are plentiful.” Left with little to add, Fox proceeds to blame the Trump administration for “insisting that things are even better than they are.”
The New York Times’ approach is to acknowledge as much, and then give the credit to President Barack Obama — the same Obama who hasn’t been president in nearly two years. In a recent story, The Times’ Patricia Cohen suggested that “the economy is following the upward trajectory begun under President Barack Obama.” But it’s the first sentence of her story that really matters: “By nearly every standard measure, the American economy is doing well — and better than it was a year and a half ago, before Donald J. Trump was elected president.” – READ MORE
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