Tag: stock market

Ron Paul: Tariff Or Not, A Calamity Is Imminent

By Mason Mohon | @mohonofficial

We’ve got a “rigged economy with artificial interest rates,” former GOP Lawmaker Ron Paul said to CNBC on Tuesday.

“When you put a tariff on, the American people suffer. They have to pay it. It is a tax,” Paul said as he started off the interview.

Donald Trump’s recent protectionist tariff proposal has sparked debate as to what the economic impacts of such an action will be. Most agree that it will lead to pain in the economy, but to what extent is the question many are posing. Will it be a calamity, or will it be a minor correction that we will be able to recover from?

Dr. Paul thinks it will be a massive correction, and he does not think the tariff will be the sole cause. He states that we have been running on fiat currency for the last 40 years, referring to our exit from the Bretton Woods Agreement in the 1970’s and that that is contributing to a “danger sitting out there, bigger than ever before.”

Never before has anyone gotten away with such a “rigged economy” so “burdened with debt.”

“There’s no stopping it,” Dr. Paul states, referring to the coming bust, “I think the corruption is gonna be huge….’09 wasn’t able to restore its course.”

 

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Trump Was a Big Help for the Economy in 2017

 

By John Liu | USA

It is the end of the year and Trump has already helped America rebuild after the Obama era where nothing was accomplished and Trump’s tax reform will be a huge win for not only Trump but for the American people.

When Obama walked into the office in 2009, America almost lost 5% of jobs that year and grew less than one percent every year after 2010.  Trump on the other hand, though may not have increased as many jobs as Obama in a month in 2016, at least did not lose jobs like Obama. Trump is consistent in bring in jobs every month and in November, he brought in 228,000 jobs. Along with job growth, he has also decreased the unemployment rate for workers without high school diploma by half to 5.2%. Furthermore,  Trump also helped the minority get jobs, Hispanics unemployment rate is at an all-time low of  4.7%. African Americans have one of the best benefits, Trump helped raise 600,000 jobs for African Americans and help increase the median salary for an African American families by $1000. Meanwhile, Obama has decreased African American’s family median salary by $900.

Another thing that Obama did that hurt our economy was the massive debt. From 1783-2008, America added 6.4 trillion dollars in debt. That may sound a lot and of course, it is, but that is nowhere as much as Obama, where he racked up 4.6 trillion dollars in debt in one term! At the end of Obama’s term, the national debt doubled from 2009. Trump will change that as the new tax reform will help out. Even though it is going to rack up 2 trillion dollars in debt in the next 10 years, is crucial to sustaining the 3% economic growth and it will end up paying for itself in the end, but most importantly, help the decrease the national debt in the long run.

Finally, the stock market. Even though Obama made an ok run for the stock, it is nowhere as impressive as Trump’s. The Dow Jones is up by 5,000 since Trump has been elected, the first time in since the opening in 1896. Dow Jones has reached the peak of 24,8137.51 on December 28.  That is what happens when a businessman runs the economy rather than a stranger to entrepreneurship.

In short, if anyone thinks that Trump is going to ruin America and a civil war is about break loose, just tell them that he already helped the minorities and may have saved America from debt that Obama has created.