The American stock market continues to baffle experts with its confounding behavior. Amidst predictions of economic doom and gloom, it still shows resilience, as if defying even common sense—and maybe a few economic laws while it’s at it. The recent dip in oil prices, shedding a hefty seven bucks, seems to be yet another plot twist in this financial soap opera. President Trump, in his usual flair, has optimistically waded into the buzz with hopes pinned on a deal involving Iran. This is no ordinary deal; we’re talking about eliminating highly enriched uranium—sounds like quite the page-turner.
During a recent Mother’s Day event at the White House, President Trump lauded the Navy’s handling of the blockade, calling it a “wall of steel.” Now, if only he’d found some way to get Game of Thrones involved, we’d be set. He claimed that nothing, not even the Iranians, is making it through this blockade—they’re basically out of business. Now, if Iran agrees to this memorandum of understanding, maybe we will see oil and gas prices dropping like they’re hot. Or, in this case, dropping back to where they were before this whole escapade started.
Economy-wise, the U.S. seems to be jogging at a healthy pace, with manufacturing and job numbers looking quite rosy. It’s like one of those infomercials where everything is just “amazing” and “beyond,” except, in this case, they’re not trying to sell you a questionable kitchen gadget. Kevin Hassett projects some optimistic 4% growth numbers, painting a picture of future jobs thanks to imports now making chips instead of stuffed edibles. You know things are serious when even Larry Kudlow turns a segment into his own economic show—the guy practically talked optimism into existence.
While the markets hold their breath over the Iran deal, President Trump is undoubtedly preparing for a victory lap. Should oil and gas prices indeed plummet, this economy might just sprint ahead like a contestant on the Price is Right. But let’s toss in a bit of reality, shall we? Potential speed bumps could arise depending on how the Iran deal—the ultimate cliffhanger—plays out. The international community will be scrutinizing this development, ready with pop-corn as they await the final episode of what the U.S.’s withdrawal from the region will look like.
In other news, Brett Bearer’s sensational new book, “The Case for America,” promises to offer readers a hearty dose of patriotism just in time for the country’s 250th birthday. Mixing tales of past presidents with present-day commentary, the book hinges on the surprising notion that preserving America demands a little effort and appreciation. Who knew? As the nation gears up to celebrate, one can hope that this resilient economy, nuclear deal, and redirecting global imports might just remind everyone that America, like the stock market, has a way of perplexing the critics and coming out on top.
