Marc Chandler says the US economy performed well and warns that Trump is painting a misleading picture of economic struggles. #Trump
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00:00Bruno is going to stoke his reputation and say that there is. Sorry, Mark, you go ahead.
00:05Yeah, no, I'm sorry. I just think that this is like, this is more of like, to me, this is too much of a, of a, of a, like a, like a campaign promise, campaign slogan.
00:15And at the end of the day, look what's happened. We have not really seen the full impact of the policies yet.
00:22But, and when I think about the U.S., you know, I know the U.S. runs a large trade deficit, but the U.S. has not become poor.
00:30I mean, what happened a few weeks ago, maybe a few months ago, we were talking about American exceptionalism.
00:36And what does this mean? It means that the U.S. GDP has risen faster than most other countries.
00:40And part of the reason is because productivity grew so fast.
00:44And so I don't think that other countries running trade surpluses with the U.S. is ruining the U.S.
00:49I think that with our service economy, and again, to that point, only about 8% of our workers in the U.S. work in the manufacturing sector.
00:57And yet household net worth collectively has never been greater.
01:01I think that this kind of talk about like how to make America resilient, to me, it's like we as people are sheep.
01:08And we've been told that the wolf is going to eat us.
01:11And the wolf might be China.
01:12It might be Europe.
01:13It might be other countries with trade surpluses with the U.S.
01:15But the person who really wants to eat us is a shepherd.
01:19And now we're talking about thechemistry.
01:22And there's a big deal in scrap of life because it's an arbitration.
01:24So, you could tell us a fortune that we won't live right in the U.S.