President Trump’s “Mission Accomplished” Moment

Unless President Trump reverses course, the “Lower Prices Bigger Paychecks” banner that hung behind him at his “affordability” speech this month will be remembered as being to economic policy what President George W. Bush’s “Mission Accomplished” banner was to foreign policy.

According to a Politico poll, many Americans are having difficulty paying for food, housing, transportation, and health care. Thirty-seven percent of Americans cannot afford to take their family to a professional sports event while 46 percent of Americans cannot afford airfare for a vacation.

An Economic Contagion

On a recent road trip to a family event, I did an experiment while listening to Bloomberg for six hours in both directions. The various hosts were all interested in the topic of “contagion” and whether or not their guests thought we were in an artificial intelligence bubble. One pretty young host lamented that work was more fun when the market is going up.

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