Courtesy of The Hill:
With the Dow dropping nearly 400 points, has the bubble created by President Trump’s tax cuts and other economic initiatives finally burst? Or is this only the beginning?
The economy has been improving since at least former President Obama’s 3rd year of his second term in office, so how much of that growth is Trump’s doing? And will he take ownership if and when the bubble really bursts and there’s an economic collapse, which many economists say is coming?
When there’s an economic collapse, the people hurt the most are always the middle class and the poor, who rarely and only minimally benefit from an economic boom, particularly a rise in the Dow Jones.
Is this 2008 all over again or something worse? The policies are certainly eerily similar to the Bush years, which led to the downturn. Tax cuts for the rich, cuts to social safety nets and more overseas adventurism.