Alright .. so the Dow-dy Jones Industrial Index crossed 20,000 today! What took it so long?, asked some analysts, saying it underperformed expectations from say, 10 years ago. (Of course: there was that global financial crisis in 2008). The Trump Administration was quick to take credit for Dow 20k. Well .. not so fast, said Robert Reich, former US Labor Secretary on CNBC.
‘Donald Trump is treating the world economy as a zero-sum game, the assumption being ‘make America first, we win or they win,’ Reich said. ‘He’s talking down NATO, the European community. He’s making it seem as if trade is really bad for the United States and therefore we are going to put up trade barriers.’
‘This is not the kind of talk that will inspire confidence in global markets,’ said Reich, a professor of public policy at the University of California, Berkeley. ‘And so I don’t think this so-called rally, this Trump rally, is going to continue much longer.’