Why the stock market rallied yesterday — decisive national action. Just compare this to Katrina. No comparison. Doesn’t mean the country isn’t going to be whacked by the coronavirus — Trump isn’t god, but it does mean this administration is very responsive. Trump acts; he’s not frozen in the headlights like so many previous presidents on so many different crises. Another case in point is the terrible trade imbalance with China that has been going on now for decades due to punitive and protectionist tariffs imposed on imports by the Chinese. The last 3 presidents did absolute nothing about this and so we have this huge rust belt in the middle of the country and the middle class got hollowed out. But Trump acted — he retaliated with our own tariffs, which ultimately will lead to a negotiated and fairer trade agreement with China. The worst year for the trade imbalance with China was 800 billion. That’s with a B. That meant, bottom line, China was 800 billion richer and we were 800 billion poorer at the end of the year — because Chinese protective tariffs blocked most American products from their market. Trump is doing something about that — not previous presidents. Yes uncouth, but he acts.
Not Katrina
Published by Henry Barnard
I am a voracious reader and also enjoy writing. I often have a very different point of view than the popular one. I do see value in debate, and thought it might add to the public debate on controversial issues if I were to express my contrarian opinions. I also started keeping my poems recently (I've written little pieces my whole adult life but never kept any); and I've been a photographer now for over 25 years. So I will be adding an occasional poem and hopefully interesting photograph to the blog along the way, just to spice things up. View all posts by Henry Barnard
Published
Henry's Views 