Varney: Wealth effect kicking in as Trump meets with world leaders
'Europe is bitterly divided and on the brink of recession. All eyes are on Trump'
FOX Business’ Stuart Varney argued in his latest “My Take” that President Trump is in the driver’s seat heading into his meeting with world leaders in London as Europe sits divided on the brink of recession.
“The President has leverage. America has the most dynamic economy of any industrial democracy,” Varney said.
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Thanksgiving has turned into an “online shopping bonanza,” Varney said as the sales between the holiday and the end of Cyber Monday are expected to add up to around $20 billion. Terrible weather, he added, is sure to help Amazon.
President Trump heads to London during a prosperous time for the American people, Varney noted.
“People feel able to spend more because their investments, especially their pension and savings are doing so well,” Varney said. He described this at the “wealth effect” kicking in.
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While America is prosperous, the push for impeachment is increasingly irrelevant, Varney suggested.
“[Meanwhile], Europe is bitterly divided and on the brink of recession. All eyes are on Trump. He’s in the driver’s seat,” Varney said.
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