'Shark Tank' Star: Ignore Media's Trump Hysteria, Look at 'Remarkable' Things He's Actually Done
With the intensity with which those on the left despise President Donald Trump and his policies, and the constant barrage of negative news coverage about the president since he took office, you would think the country is on the verge of chaos.
If that were the case, can somebody explain why the stock market has surged roughly 41 percent from the night Trump won the presidential election to today?
After all, anyone with even a casual knowledge of the markets knows they are extremely sensitive to signs of uncertainty and turmoil. If we hear all of this noise from the media and Democrats about how the country is divided, facing an uncertain future and every other doomsday prediction, why isn’t Wall Street paying attention?
Because Wall Street looks at things in a different light than most individuals. Money is not a Republican or Democratic asset. Who the president is doesn’t trigger unrealistic emotions — either for or against.
Kevin O’Leary, noted investor and one of the stars of ABC’s “Shark Tank,” says when you cut through all of the noise surrounding Trump’s presidency, he’s doing some “remarkable” things to help businesses, specifically the cutting of regulations.
“I would say on a policy basis, I’m going to have to give it an 8 1/2 out of 10 so far,” O’Leary told Hill.TV’s Buck Sexton of the Trump administration’s performance to date.
"Shark Tank" star Kevin O'Leary praises Trump for cutting regulations https://t.co/5YUfNlyscr pic.twitter.com/TeQvZ7Lb4Z
— The Hill (@thehill) July 24, 2018
“The reduction of regulations has been remarkable in how it has accelerated small business,” he said. “These things are quietly being changed, and I really — I credit the administration for doing this. They’re making it easier to run a small business in pretty well every state I’m involved in. So that’s working.”
In an Op-Ed O’Leary penned for The Hill.com, he heaped more praise on the administration and said the markets are very confident in the president’s economic plans.
Part of that confidence, O’Leary said, is based on looking at the facts of what Trump is doing in terms of fundamental business policies, not the emotions social issues generate.
“Trump is like no president before him: not good, not bad, but different,” O’Leary wrote. “Want to manage through the turmoil? Here is a better strategy. Ignore the noise and watch the policy.”
O’Leary credits Trump with putting in place competent economic managers such as Commerce Secretary Wilbur Ross, Director Larry Kudlow and Treasury Secretary Steven Mnuchin. O’Leary says deregulation and tax reforms are already a done deal, and trade is the next item on the agenda.
“Their message is clear: They are going to keep ratcheting up tariffs until the eurozone and China come to the table,” O’Leary said. “They care about the North American Free Trade Agreement and the Asian trade protocol, too, but these have been pushed to the back burner while they focus on the big dogs, China and Europe.”
The president is receiving steady criticism for his tough stances on trade, but if his policies were really that bad, the markets would reflect that, O’Leary said.
“So why has the market not corrected, and why have many stocks continued to hit all-time historic highs?” he asked. “Because the potential to equalize tariffs has such tremendous economic upside for the U.S. economy, investors are willing to put up with pain even if the chance of success is only 50 percent or less.”
And the markets are willing to put up with a lot of pain if the payoff is worth it, O’Leary said.
“The markets know this is not going to happen overnight, but the upside is so enticing that it is willing to wait,” he said.
O’Leary said that rather than judge a president or other politicians based on whether they have an “R” or “D” after their name, those in the business world know it’s best to look at the steak, and not the sizzle.
“My best advice in these extraordinary times? Tune out the circus and focus on the policy that actually gets implemented,” O’Leary said.
It’s hard for critics of the president to tune out the circus when it seems to have taken up permanent residence in their heads. But you can bet there are some hardcore liberals who are embarrassed to admit just how nice their 401k statements have looked since Trump took office.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.
Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. Advertise Today.
