1/28/2019
By Charles Payne, CEO & Principal Analyst

Unfortunately, these days, market observers see the market filtered through a prism of dislike for the occupant of the White House. Many experts are worried the economic orthodoxy they have preached, along with the fear they sold on tariffs and other hardball tactics, may prove to be incorrect. Their knee-jerk prediction of failure has already exposed them as elites that really care only for bottom line profits.

It’s funny that they mocked Alexandria Ocasio-Cortez; and yet, they ridiculed the North American Free Trade Agreement (NAFTA) replacement deal because it puts more jobs with higher wages into the United States. Moreover, they’ve made it abundantly clear that it’s about cheap labor, and there are no questions asked about how labor gets so cheap in the first place.

Still, these are the experts that operate televisions channels and shows, and they get called upon to express thoughts on the stock market. For them, the greatest risk always revolves around a White House policy designed to get Americans better deals. Furthermore, it’s more about losing face than losing power. 

• The masses don’t believe that manufacturing jobs will never come back after more than 400,000 have been created in the past two years.
• The masses don’t believe their wages can no longer outgrow the rate of inflation because they are stuck these days.
• The masses no longer believe they are stuck on the sidelines because of mistakes made earlier in life because they are not gainfully employed.

Of course, the powers that be always have the luxury to wait and spend lots of money to sway opinion in the future. However, they must first destroy this newfound independence streak sparked during the election campaign, fanned with prosperity returning to Main Street.

The game plan now is to blame anything negative about the fight itself, so we never break or cheer the thought of rebelling against the economic system that hides behind the notion of “free markets” when it’s anything but because of cronyism, favoritism, and elitism.

We have the best economic system in the world, but it can get better, smarter and more honest if we invite more Americans into the mix rather than allow China and others to steal the sweat of our brow and call it a comparative advantage.

Meanwhile, be careful not to make mistakes based on “flawed” reporting because it might not actually be flawed.  So many people have the answers to problems that have been built up for decades. I say let’s see how the tactics work.  I feel like the nation, and consequently, the stock market, is on the cusp of winning.

Charles Payne
Wall Street Strategies

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