CNBC.com reports that
Global investors are betting on America’s economic success now more than ever, Morgan Stanley’s Ruchir Sharma told CNBC on Monday.
“This year has been a story of how well America has done,” he said on “Squawk Box,” calling it an example of “American exceptionalism.”
“We may or may not believe in [American exceptionalism], but the financial markets have never believed in it to such an extent,” added Sharma, head of emerging markets and chief global strategist at Morgan Stanley Investment Management. The global firm has $474 billion in assets under management, as of June 30, 2018.
The strong economy has been touted by Trump administration officials such as top aide Larry Kudlow, who called it “the hottest economy in the world.”
Second-quarter gross domestic product gained 4.2 percent, according to the government’s final reading. And it appears the momentum has continued. The Atlanta Fed’s GDPNow real-time indicator put the third-quarter growth at 4.1 percent, as of Monday.
Combine those figures with the first quarter’s 2.2 percent gain, and the economy stands to grow at an average of 3.5 percent for the first nine months of 2018.
Sharma said that excellent economic performance is reflected in the “very richly valued” U.S. financial markets.
In fact, the stock market has doubled over the last decade, leaving a “huge gap” compared with international markets, particularly emerging ones, he added.
Global Investors have witnessed the same thing that average Americans have: Trump has delivered what he promised…a stronger economy and more jobs.
Americans are more concerned with providing for themselves and their families than they are with the silly Political Games which the Democratic Party, which is being run by the Far Left, continues to play, such as their attempt to stop Brett Kavanaugh from becoming an Associate Justice on the Supreme Court.
Quite frankly, the reason that Obama Presidency did not move our economy forward, like President Trump is in the process of doing, is because Obama was more concerned about growing the Central Government, than he was about growing American Production by freeing the job creators from punitive tax rates, in order to encourage the growth that will revitalize our economy.
That is why I once spent 6 hours on a Saturday, on the phone with Punjab from Calcutta about my Comcast Cable Box, which was on the fritz.
But, I digress…
Make no mistake, granting amnesty to millions of unskilled, underage illegal aliens would have done and still would do nothing for the health of our economy.
This action would simply provide future voters for the Democrat Party, which is now, as I wrote earlier, firmly in the control of the Far Left.
A popular Liberal Defense that was going around during Obama’s Presidency was the claim that President Ronald Reagan actually had a bigger Federal Government than Obama.
The funny part is: It’s true.
It was larger because President Reagan, through his sound Economic Policy, actually increased tax revenues.
American Production rose, therefore, TAX REVENUES INCREASED.
Yes, “Trickle-Down Economics”, “trickled up”, allowing for a well-funded, strong American Military and Administration.
You see, boys and girls, that’s the secret of American Exceptionalism, a concept that Obama always gave lip service to, but, clearly, never believed in.
For America to prosper, we must remain free. For America to remain free, we must be prosperous.
American Capitalism is the engine which drives a strong, vibrant economy. American Capitalism is the result of the courageous Entrepreneurial Spirit of American Citizens. The same “Can Do” attitude which led to Western Expansion and triumphs against those before-mentioned enemies, foreign and domestic.
President Ronald Reagan often referred to America as “The Shining City on the Hill” meaning that her people and the Sovereign Nation itself were an example to the rest of the world as to what a free people were capable of creating for themselves with God’s Providence.
Reagan knew that American Exceptionalism was an inspiration to the rest of the free world, not a bone of contention as America’s previous occupant of 1600 Pennsylvania Avenue claimed it to be.
And, just like the Gipper, President Trump knows that for America to be successful in a Global Economy, we must put America First, in order to negotiate with other countries from a position of strength.
This philosophy has enabled American business to regain the trust of Global Investors and is helping to ensure that our children and grandchildren will have more opportunities to forge their own bright economic futures.
Until He Comes,