A development that President Trump has wasted few opportunities to highlight, tweeting just this week “Our economy is the best it has ever been. Best employment and stock market numbers ever.” Trump’s boasting, apart from the usual inaccuracy, is at odds with the reality of a surprisingly fragile U.S. economy.
Since 2009, the economy has grown by only 25%, which compares poorly against the much shorter periods of expansion in the 1980s and the 1990s, which grew by 38% and 43% respectively.
The economy is not creating jobs that they can fill, while companies are complaining about shortages of skilled workers.
As troubling as these economic findings are, the fragility of the U.S. economy runs even deeper.
Lots of great things to tell you about, including the fact that our Economy is the best it has ever been.
Many sectors in the American economy are showing oligopolistic or even monopolistic characteristics.
The highly leveraged companies this creates have become one of the weakest links in the economy.