LETTER: Let’s not overdo it on Donald Trump and the economy
President Donald Trump pumps his fist as he departs after the presentation of the Commander-in-Chief's Trophy to the U.S. Military Academy at West Point football team, in the Rose Garden of the White House, Monday, May 6, 2019, in Washington. (AP Photo/Alex Brandon)
AP Photo/Alan Diaz
While I like Wayne Allyn Root, his pronouncement that President Donald Trump is a financial genius is nuts. The economy is doing well for two reasons. First, Mr. Trump established a business-friendly government. Second, and of greatest importance, the Federal Reserve is making cheap money available.
Cheap money encourages poor decisions. Consider the Regional Transportation Commission’s decision to go with a system of buses on Maryland Parkway rather than light-rail. Had free money been available, board members might have gone with the excitement and novelty of light-rail instead of the smarter, if mundane, choice of buses.
So no. Neither Mr. Root nor the president is a financial genius.
