US is Now the ‘Best Country’ for Business Due to Trump Tax Cuts
America now the “best country” for business in wake of the sweeping tax cuts championed by President Donald Trump.
The United States’ economy is on a strong path for growth following the tax cuts and now the “best” for business.
“We are on the front end of an investment boom that’s largely tied to the tax cuts,” said economist Larry Kudlow.
“It will be stronger than anything we’ve seen in probably 25 years,” he said Monday in an interview.
“America is once again becoming the best investment environment in the world — the best country in which to do business. And that’s a powerful positive,” Mr. said Kudlow.
Mr. Kudlow also said that in reality, the recent volatile market does not actually reflect the sturdy and healthy economy.
Many of the algorithmic changes that have occurred are driven by computers, not humans, he said.
The CBOE Volatility Index (VIX), aka the “fear index” that spiked and triggered the selling has settled back, and was at 26.5%, easing off Friday’s 29% close, that down from 53.04% last Tuesday.
A higher Friday close for New York stocks following a week of selling, lifted markets in Asia and Europe, helping MSCI’s all-country index rise off 4-month lows, while European shares firmed 1.4% after touching 6-month troughs last week.
“It’s a free country, it’s a free market, but I think we go too far with electronic trading. It doesn’t reflect the fundamentals of the economy, which are very good,” said Mr. Kudlow, who served as The Trump Campaign’s senior economic adviser.
Mr. Kudlow urged investors to use any dips as a buying opportunity.
“The country is good, profits are good, the mother’s milk of stocks … This is not going to be a permanent crash. This is not 2008. People should not panic. In fact, stocks are going to be cheaper. I’d buy them and I’d hold them for the long run,” he said.
Latest posts by Paul Ebeling (see all)
- Gold Prices Continue to Drive North - June 24, 2019
- Canopy Growth (NYSE:CDC) Stops Buying Small Marijuana Producers - June 24, 2019
- Wall Street: “Sanders Student Debt Plan Could Bring More Pain” - June 24, 2019