Is Trump a financial genius or fool?
DEAR EDITOR:
Trump, has he done any good? The economy is thriving. Is it because of President Trump? Yes, but, the ways he is improving the economy are not sustainable.
The unemployment numbers don’t matter when one out of every 10 Americans are working two or more jobs and the national average income has been stagnant. The only people that are really profiting from this boom are the upper 8 percent. This includes the upper middle class and the elite 1 percent.
Logically, lower corporate taxes mean more money into the coffers of the rich corporations. They are using this money to buy back stocks (this means more dividends for corporate heads), and they are not using this money to invest in the companies nor their workers.
Then there is the trade war. On its surface, for those who do not understand a world economy, it looks like our president is fighting for the American people and American jobs. In reality, this is going to harm American jobs and raise prices to a level that many Americans will be unable to afford many common essentials.
What many people do not understand is economics, trade and pricing. That’s not to say people are stupid. These are complex and monstrously hard to predict. These are figures that the most knowledgeable people have problems reliably predicting.
But, the experts are saying this is going to hurt the economy in the long run. It may not be next year and it may not be in the next five years, but it will hurt us.
The approach President Trump is taking previously was used in early 1900s at the end of World War I. America was hemorrhaging money. We were in a golden financial boom that we thought would never end and then — Black Tuesday.
The stock market melted down and most Americans lost everything.
This is going to happen again. This type of economy never lasts, and the time will come to pay our dues.
I’m not trying to be a harbinger of doom, but history has lessons. Learn from them and survive, repeat them and die.
We are embarking on a journey that only a few will survive. History is repeating itself once again and I, for one, am calling out this travesty.
JAMES B. LESTER
Leavittsburg