This week in Trumponomics: Assessing President Biden

President Trump is officially the underdog in the 2020 elections.

Before the coronavirus arrived, Trump’s reelection bid looked reasonably solid. Unemployment was extremely low, incomes were rising and the stock market hit one record high after another. Many voters who didn’t like Trump personally could still say they felt better off under him. And as the 77-year-old Joe Biden emerged as the Democratic nominee, Trump faced a gaffe-prone opponent who arguably maked the 74-year-old incumbent seem young by comparison.

Now, however, Trump is in the worst skid of his presidency, with reelection slipping away. Trump’s faltering handling of the coronavirus crisis and the patchy efforts to control it by governors and mayors has pounded Trump’s approval rating and turned swing voters against him. A New York Times poll this week placed Biden ahead of Trump by 14 points nationwide, the widest lead so far for Biden in any major poll.

Read More

Should President Trump quarantine himself after visiting hotspots?

President Trump may not be a civilian, but he remains a human being — and that means he is still susceptible to catching and spreading COVID-19.

The risk of each of those things happening runs higher for Trump than most humans given his intense travel schedule, his age (74), refusal to wear a mask and continued downplaying of the threat of the pandemic. Yahoo News medical contributor Dr. Dara Kass believes it’s time the president is more cautious not only to protect himself, but to signal to the public that COVID-19 continues to be a major health risk.

“It has been a consistent message of, you know, a lack of leadership. A consistent message to say that the rules don’t apply to me. And unfortunately, when he is coming from a hot spot like Arizona where he was on Tuesday and now coming to New Jersey, he’s potentially bringing the

Read More

Will a president Joe Biden ruin your stock portfolio?

Signs are starting to emerge that the stock market is getting a little worried about how a president Joe Biden would impact corporate profits and by extension the valuations on equities.

“I think it’s [the election] starting to matter a little bit more to daily market performance. I would say really over the past few weeks as we’ve seen the betting odds increase of a Democratic sweep. So we’ve started to hear more discussions around what that means for corporate taxes and as a result, how we should be thinking about our earnings expectations further out. I think there’s also a thought around sector implications. Could we see slightly higher regulation for certain sectors in a Democratic sweep?,” explained JPMorgan Asset Management global market strategist Gabriella Santos on Yahoo Finance’s The First Trade.

The former vice president is currently ahead of President Trump in the presidential race by a whopping

Read More

President Trump is great for your 401(k): strategist

The verdict is far from certain here, but Wall Street strategists continue to believe President Trump winning re-election would be better for your longer-term investments than a president Joe Biden (and most definitely, a “blue wave” sweeping through the House and Senate).

“I think President Trump is far better for the economy,” said veteran strategist Michael Lee of Michael Lee Strategy on Yahoo Finance’s The First Trade. “When you had the Biden/Obama recovery it was decent for the financial markets, but not so much for 401(k)s or those at the lower end.”

The president did his part to spark concerns on the part of households that own stocks at his rally in Tulsa, Oklahoma over the weekend. Trump noted several times that 401(k) plans would be at risk if he weren’t re-elected as president — it’s likely to be a mantra used at length by Trump on the campaign trail

Read More

Business leaders fear ‘flaming on social media’ if they criticize President Donald Trump: Fast Company Editor-in-Chief

Many business leaders disapprove of President Donald Trump’s response to the coronavirus outbreak, but fear the consequences of saying so publicly — according to Stephanie Mehta, editor-in-chief of the business publication Fast Company.

In a newly released interview, taped on April 27, Mehta said many top executives find it “frustrating” they cannot criticize Trump over his handling of the pandemic due to potential damage for their company and personal backlash they may face online.

“It’s frustrating for a lot of leaders in business because they feel they can’t come out and call the president out on it,” says Mehta, a former business reporter at the Wall Street Journal and executive editor at Fortune.

“The consequences can be pretty great, not only to their business but also they become the subject of some pretty, pretty serious flaming on social media,” she adds.

Since Trump took office, he has sharply rebuked some

Read More