Globalist CEOs are quick to throw President Trump under the bus, but the true guilt lies in their reflection.

"Tariffs, the president’s proposed solutions, they believe, are destined to fall flat." Charles Gasparino, a writer from the New York Post, recently penned an editorial about how Trump’s economy is far from where it should be. Most of his comments I agree with, but this one falls on deaf ears. Is that a prediction, or is it wishful thinking from the Globalist CEO's? 

My disagreement starts with my two Americas thesis. Multi-nationals vs Domestic Businesses. 

"But privately, many (CEO's) left that night wondering if the president really knows the score," Gasparino continues in his article. "No one at the table — among them JPMorgan’s Jamie Dimon, Goldman Sachs’ David Solomon and BlackRock’s Larry Fink…" 

The CEO's at the table; is their agenda necessarily America's agenda? Most often the answer is NO! These are Multi-national firms who can maximize their profits by moving production and income globally which may be good for the firm but bad for America. Domestic firms are anchored in America, adhering to US labor and environmental regulations and generally can not play the tax and cheap labor games of offshoring production and profits. Gasparino's article does not address these issues or the national security imperative to maintain a sound US industrial base.

A recent review of these investment firms showed their combined holdings in big pharma looks to exceed 20%. There are reporting requirements that must be met if an individual firm's holdings exceed 10%, I believe. The reports I looked at showed them all remaining below that threshold. How easy has it been for these CEO's to act in unison to influence policy? Too easy. Trump's pressure to lower pharmaceutical prices disrupts their "party".

DEMOGRAPHICS: The 2020's are not the 1980's so there can be no real comparisons in overall economic growth. But, there can be comparisons to rates of growth. The overall job growth will likely never equal the 1980's growth when the Baby Boom generation, 76 million strong, entered their peak earning years. Currently the US Birth Rate is far below the Replacement Rate and has been since the 70's. 

"Between 1979 and. 1989, Federal government statistics indicated that the number of workers on nonfarm payrolls had increased by almost 20 million. A large "baby boom" generation entered their prime working and household-forming years, and more women entered the workforce, increasing the labor supply. These demographic shifts, combined with economic shifts away from manufacturing toward services, created a high volume of new jobs but also led to debates about job quality and wages" US Census and Bureau of Labor Statistics. 

"... economic shifts away from manufacturing toward services, created a high volume of new jobs but also led to debates about job quality and wages" (BLS). These were terrible policy decisions that weakened our national security while feeding wage and income inequality. The 1990's Clinton/Gore trade "deals" further accelerated the problem. 

Forty years of misguided education policies further exacerbated problems and are a major reason why we now have such a huge labor and skills gap mismatch. This labor shortage is currently a crippling factor in quickly returning to solid GDP growth. It will take a decade, or perhaps a generation, to right this wrong. Able bodied individuals, without underage dependents, must be cut from the social welfare rolls.  

Wasteful and inflationary government deficit spending is the main cause of inflation, not tariffs. American "politicians" have a spending addiction problem, our nation does not have a revenue problem. Government borrowing has crowded out needed private investment. 

My prediction, AI and robotics will supplement employment.  Yes, old jobs will disappear, however, new job opportunities will be created. There will be a net benefit and a net gain that, if properly utilized, will raise living standards across the economy.