Last week, Donald Trump tweeted his dissatisfaction with General Motors' decision to close four US plants.


I feel his pain. Indeed, wage growth in Old Economy industries have been stagnant for quite some time.


The WSJ wrote an editorial in response:
President Trump believes he can command markets like King Canute thought he could the tides. But General Motors has again exposed the inability of any politician to arrest the changes in technology and consumer tastes roiling the auto industry.
I agree. Trump's 1950's framework for analyzing the economy has become outdated. The world is moving on, and investors should move on too.

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