Why this strategist thinks the LA riots may actually be ‘very bullish’
The developing situation in California looks ugly from afar. But one leading expert based in Los Angeles sniffs a Trump pivot that’s good news for investors.
US Marines head for downtown Los Angeles in a once-in-a-lifetime show of White House force. President Donald Trump threatens to arrest the governor of America’s largest state, who has just sued the federal government. And the pictures of violence keep flooding the global media.
At first glance, it all seems very dramatic. And as we said on Monday, there is a serious economic issue here: Trump’s anti-immigration stance is choking off the supply of new workers into America’s labour force, threatening to push wages higher, keeping the US Federal Reserve on the sidelines, and create a negative supply shock that heaps further pressure on the US dollar.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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