CNBC’s Ron Insana isn’t holding out much hope for the new administration, predicting that “’the handwriting is on the wall” for Donald Trump’s presidency.
He says Trump’s signature initiatives are either delayed or “dead on arrival.” The Trump presidency, in its early days, is already “looking like a failed effort.”
“A review of Donald Trump’s business career would lead one to say that he has always over-promised and under-delivered. Whether his long list of bankruptcies in the ever-profitable casino business, the failures of his ‘university,’ steak, vodka or clothing lines, there has been a history of putting himself first, while ignoring the needs of his constituents,” Insana wrote from CNBC.com.
“We may be seeing that play out in his approach to government, as well. As in business, Trump has a constituency of one … himself … just ask his stock and bond investors, his suppliers, contractors, laborers, or even his customers. Unlike Trump, they rarely, if ever, participated in the “upside” of Trump-branded products,” Insana wrote.
“So, too, is this happening in the early days of the Trump presidency. His executive orders notwithstanding, the folks who voted for President Trump, thus far, have nothing to show for it. Indeed, it is quite early to make a claim that Trump has failed his constituents entirely, but the handwriting may be on the wall,” Insana wrote.
“His signature initiatives, populist in nature, be it ‘The Wall,’ the travel ban, the enactment of the American Health Care Act, or possibly even tax reform, are either delayed or dead on arrival,” wrote Insana, a CNBC and MSNBC contributor and the author of four books on Wall Street.
In economic terms, some of his signature legislative goals, while keeping his campaign promises, would no doubt hurt the very people he proclaimed to help, Insana wrote.
Insana also hit Trump’s military maneuvers, claiming that the president’s “armada” sent to the Sea of Japan to threaten North Korea was heading 3,000 miles in the opposite direction.
“It was a bluff … something even a failed casino owner knows something about. The problem is if you bluff and lose … you can’t bluff again,” Insana wrote.
“The Trump presidency, in its early days, is already looking like a failed effort, one that uses gold paint to cover bronze trim. It’s about the show. It’s about theatrics. It’s about gilding the lily,” Insana wrote.
“It may also be used to make Trump rich again, even if it fails to make America great again.”
However, other respected economic gurus politely disagree with Insana’s viewpoint.
Veteran financial guru and former Ronald Reagan adviser Larry Kudlow is urging any impatient investors to just give Trump a chance to fully enact his strategies to reform healthcare, spark economic growth and redesign the tax system.
After all, Trump has been in office a relatively short time and has inherited a mountain of problems from the past two decades. “He’s trying to fix a lot of problems that have gone unfixed in the last 20 years,” Kudlow explained to CNBC.
Trump “still wants tax reform and healthcare reform. Those are big issues for him.” the Newsmax Finance Insider said. “He’s been in 80 days, give him a chance,” said Kudlow, who advised the Trump campaign on economic issues.
Meanwhile, many other respected economic voices are predicting robust growth and additional stock-market gains amid Trump’s blueprint to truly “Make America Great Again.”
David Horowitz, author of the best-selling book “Big Agenda: President Trump’s Plan to Save America,” told Newsmax TV that the market rally since Republican Donald Trump won the election has more room for gains as the president pushes his pro-business agenda.
“There’s more upside. Starting from when he was president-elect he started this stock market boom,” he told Newsmax TV’s “The Income Generation Show.”
“There will be corrections. There are going to be setbacks along the way like the healthcare which they hurried too fast. If you’re looking over the long term of this administration I think the stock market is going to love Trump,” Horowitz said.
“Big Agenda: President Trump’s Plan to Save America” is available at bookstores everywhere – or get your copy on Amazon – Click Here Now
(Newsmax wire services, Reuters and Bloomberg news contributed to this report).