During a spirited discussion on "CNN NewsNight," Kevin OLeary, known for his role on "Shark Tank," challenged assertions made by fellow panelists regarding the state of the U.S. economy.
O'Leary's remarks came in response to claims that tariffs imposed by President Donald Trump were leading to job losses.
As reported by the Daily Caller, consumer confidence saw a notable rise of 12.3 points in May, marking the first increase in five months, according to The Conference Board. Additionally, the economy added 177,000 jobs in April. Despite these positive indicators, podcaster Kmele Foster argued that the tariffs were detrimental to employment.
OLeary countered, "What are you talking about? Theres no job loss in America." The exchange grew heated, with Shermichael Singleton questioning Foster, "Do you not look at the unemployment numbers?" OLeary further emphasized, "Were almost at full employment. Were almost at full what are you talking about?!"
The Bureau of Labor Statistics reported an unemployment rate of 4.2% in April, a figure that supports O'Leary's argument. Former reality star Jennifer Welch entered the fray, asserting that President Trump was damaging America's international reputation. OLeary retorted, "The economy is on fire! What are you talking about?" Welch maintained her stance, claiming, "Hes doing brand damage to the American economy. Nobody is taking us seriously."
Despite Foster's eventual concession that the economy was "doing OK," Welch persisted in her critique, stating, "Were a laughingstock in Europe, a laughingstock in Asia." OLeary, however, dismissed these claims, pointing to America's continued dominance as a prime destination for global investment.
"The number one destination for invested capital on earth is still over 50% in America tonight," he stated. "The money pours in, trillions of dollars comes to America. Why? Best place to invest on earth. Why? The economy is on fire."
OLeary's defense of the economic policies under President Trump underscores a broader conservative perspective that emphasizes the strength of the U.S. economy and its appeal to investors worldwide.
While critics may argue about the nation's global image, the economic data suggests a robust and thriving market, attracting significant capital and maintaining its status as a leading investment hub.
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