So, the US Government is over for now. Should we be relieved?
The shutdown should tell us that there is something very fundamentally wrong with the way that America is run. Whether we agree or disagree with Trump’s building of a wall to separate Mexico and America, a shutdown is not the way to go about sorting out budgetary differences.
How is it possible that one man can hold an entire country to ransom, just because he hasn’t been allowed to have everything his own way. For goodness sake, America is the largest and most developed economy on our planet. Yet it behaves no better than a banana republic.
The damage that the shutdown has done to the US economy may be temporary. It is estimated trim about 0.1% of America’s economic growth for every week that the shutdown was in place. So, it has trimmed around 0.4% from America’s GDP growth.
But some of that lost growth could be recouped. But the damage to America’s reputation around the world will linger for a long time….
How can we trust a government that is prepared to use its own workers as pawns in a negotiation? That’s outrageous.
But it’s not just government workers that have been targetted. The current administration has picked fights with China, with the European Union, with Canada, with Mexico and with NATO.
That is hardly the behaviour we have come to expect from the world’s richest economy. If anything, it sends out all the wrong messages.
But the people who are hurt the most are the innocent bystanders who are always at the receiving end of The White House’s temper tantrums. Spare a thought for them.
A version of this article first appeared in Stock Advisor.
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