Part 2

Question: So will the rally continue?
Answer: No. Trump’s belligerent and bizarre talk – not just about trade, but also about the “obsolescence” of NATO and his indifference toward the European Union -- is rattling the global economy, causing uncertainty from London to Tokyo. Uncertainty is never good for financial markets. It will drive more global savings into the United States, pushing up the dollar and thereby making American exports less competitive internationally.

Question: And what about American workers? Will they benefit?
Answer: No. Trump is doing absolutely nothing to create more and better jobs. His bullying of auto and appliance makers is purely for show. A trade war would hurt American jobs. A higher dollar will hurt jobs as well. Trump’s repeal of Obamacare will harm millions of American workers, who will have to pay more for health insurance. 

Question: So the “Trump rally” has nothing to do with the real economy?
Answer: Absolutely nothing.