Crazy is as crazy does is a well-worn maxim, and as Charles Gasparino writes in the New York Post: With the Dow crossing 25,000, it’s worth pointing out the pitfalls that could reverse some of those gains — and how to avoid them.
One thing we don’t have to worry about is the crazy economic sanity of President Trump.
In fact, it’s safe to say that the current president, for all his temperamental flaws and petty insecurities, makes his tightly wound predecessor, Barack Obama, look like a raving madman when it comes to showing sense on economic growth. Armchair psychiatrists are having a field day diagnosing the president’s mental state from afar, especially after his increasingly bizarre tweeting, but the market says otherwise.
Consider: The United States had one of the highest corporate tax rates in the world — so high that companies (and jobs) were fleeing to places like Ireland. That’s why it was perfectly sane to lower the corporate tax rate from 35 percent to 21 percent as Trump just did, and presto: Corporations are announcing plans to hire more workers, and the economy, which was expected to slow after seven years of weak growth, is heating up. The markets are predicting that growth with their surge.[end]
Segue` to the crazy Big Fake News media types (leading the fray, CNN) and the likes of Jake Tapper getting nowhere with Stephen Miller, President Trump’s brilliant senior adviser for policy; thereby begging the observation of whether these fake news types really operate in a completely different myopic world of their own making and delusion, or whether in fact, they really believe in their own pompous detritus (a swanky word for ‘bullshit’).
Witness this crazy-overblown temper tantrum from Tapper the yapper as he actually has Miller escorted from the studio!
As if that wasn’t shallow enough from Tapper, Gasparino goes further into the uncloaking of the Obama fiasco of some eight years-plus with the following comparison…
Since so many of my fellow journalists are at it, let me do a little psychoanalysis of what an economically insane person might do as president.
An insane president would threaten a significant tax increase immediately upon taking office following a financial crisis, and then eventually impose one on individuals and small businesses still in recovery.
He’d impose job-crushing regulations on these same businesses as unemployment rose. He’d put a cumbersome mandate on businesses that upends the entire health care system just as the economy was finally turning a corner.
A really insane president would blow nearly $1 trillion on a stimulus plan with little planning and direction, wasting much of the money on boondoggles (see: Solyndra) and then laugh at the lack of “shovel ready” jobs created. He’d then try to spread his delusion to the masses, telling them to ignore historically low wage growth, anemic economic growth and the massive amount of people who dropped out of the work force because the stock market rallied, thanks in large part to the Fed printing money instead of his own fiscal policies.
Is Barack Obama crazy? No, but his post-2008 economic policies were. Are all Trump’s tweets sane? No, but smart investors with lots of skin in the game think his policies are perfectly rational, and that’s why the markets are soaring along with the prospect of economic growth.[end]
Which leads us into the Saturday night Greg Gutfeld show on Fox and his take on the first week of 2018…
As Gasparino concludes: For all the good things about the business side of the tax reform bill, other parts are more complicated: Small businesses got a sliver of the tax breaks given to corporations; same goes for working-class people who don’t pay much in federal income taxes in the first place. But people who do pay a lot may get crushed when tax season rolls around. Individuals in high-tax states (like New York) could get hammered because the plan barely lowers the top rate and plugs so many deductions.
To pay for their higher taxes, these people could curb their personal spending, meaning less economic growth and possibly lower stock prices.
But none of these hiccups suggest a madman is at the helm of the US economy, which is something to consider the next time you hear Donald Trump is crazy.
See full Charles Gasparino report right here
And a bit of fluff as Michael Wolff boasts: Book will bring down Trump Presidency … HAH!