“In the absence of a near-term recession trigger, current stretched equity valuations do yet not instill enough fear to change overall market direction. Thus, the positive stock market momentum could be sustained in 2018, increasingly driven by earnings growth.”(link)
In essence, the Trump economic patriotism platform takes shape with the introduction of a few more key members for the domestic economy dream team.
If you have followed the Trump economic mindset from the beginning, you’ll know exactly what the purpose of each of these players are into the larger scope of domestic capital infusion. Remember, one of the essential elements Trump needs is to create the environment where the best play is domestic, ie. Main Street, investment.
To reverse three decades of economic outsourcing, the investment scales (best return) must tip from Wall Street (global investment) to Main Street (domestic investment), that’s where Mnuchin, Ross and Ricketts come into play. Economic patriotism is leveraged by steering capital investment much like well constructed levies can steer the flow of water. (read full outline)