Trump And The GE Does NY Fashion Week featured Senator Maria Chappelle-Nadal, Torian Mitchell (AYCE Network), and Shock Exchange. The event took place in February in the middle of Fashion Week. In New York there is no telling which fashionistas, politicos or celebrities one can attract. We invited Virginia Governor Ralph Northam. Northam was fresh off a scandal pursuant to a college yearbook showing him posing in black face. Not only was the incident triggering to African Americans, but it was a major embarrassment to the governor and an entire state. Since Trump And The GE was a black platform, it was a natural space for Northam to share his message. However, he opted to speak with Gayle King at CBS.
That said, Ms. Chappelle-Nadal, Mr. Mitchell and Mr. Shock Exchange were all pessimistic on the economy. In the above video, Shock Exchange explains the folly of President Obama’s economic policies:
I my opinion, President Obama’s economic policies were pure economic folly. He printed money and gave to Wall Street … it’s helping the investor class. It’s helping Wall Street, private equity firms, and hedge fund managers but no economist would recommend doing that. That’s more like trickle-down economics. He’s hoping it trickles down to the rest of us, but I don’t think it necessarily is. No economist would recommend that you print money and give it to your donors. That’s some concoction of the Federal Reserve and the Obama administration.
It looked good optically, but once that wears off we are going to back to where we were. If you break your ankle and put Robitussin on it, it may make you feel good. If may make you drowsy and it may make you sleep well, but after the Robitussin wears off you are still going to have a broken ankle.
We know from the Reagan administration that trickle-down economics does not work. It’s working for Obama’s donors, somebody he wanted to work for or somebody he wanted to sleep with, but not for the rest of us. Now that the yield curve has become inverted, investors are nervously awaiting the next recession.