“It’s the Economy, Stupid!” —James Carville, 1992 campaign strategist for Bill Clinton, reminding his candidate to focus on working-class Americans
“It really does now look like [it is going to be] President Donald J. Trump, and markets are plunging. When might we expect them to recover? . . . If the question is when markets will recover, a first-pass answer is never.” —New York Times Economist Paul Krugman, at 12:42 AM, Eastern Time, November 9, 2016, just after the presidential election was called for Trump.
How to Know If What You Are Reading Is Fake News
If the news you read has not been reporting daily and truthfully about what is happening in the Trump Economy, then you have, in all likelihood, been reading fake news. Media outlets masquerading as news, while in reality functioning as propaganda arms for the Democrat Party, have tended to lie, underreport, or even outright ignore, the good tidings about what has been happening in the US economy over the last year. So, some catching up on the news is called for.
Paul Krugman, an economist-turned-fake-news-journalist, wrote immediately after the election-day victory of Donald Trump that the markets were “plunging” as a result of Trump’s election (an outright lie on Krugman’s part, since everybody could see that Election Day had ushered in an optimistic upswing in the markets). Speculating on when the markets might recover from the impending doom that Krugman claimed was being wrought by Trump’s election, Krugman’s forecast was that the markets would “never” recover. Such absolutism is unconscionable, unprofessional, and outright thoughtless—especially for an economist whose prognostications should be level-headed and non-partisan.
For more than a year now, the left-leaning partisan media have never revised or corrected Krugman’s pitiful prophecy. So, most unwitting consumers of fake news did not begin to catch on that the economy was doing well, until Barack Obama decided to try and take credit for the surging economy. According to The Washington Times, “At a conference of mayors in Chicago, Mr. Obama congratulated himself . . . for strong employment numbers in the US this year, saying his climate-change policies have contributed to growth. ‘As we took these actions, we saw the US economy grow consistently,’ Mr. Obama said. ‘We saw the longest streak of job creation in American history by far, a streak that still continues by the way.’ He added wryly, ‘Thanks, Obama.’” Writes The Political Insider: “People on Twitter ripped Obama for his fake success story.” It is obvious that Trump’s undoing of Obama’s policies of overregulation and overtaxation has unleashed the engines of economic justice for all.
Trump’s Economy: An Equal Opportunity Miracle
The truth is that a middle-class worker with a 401(k) valued at $100,000 on November 8, 2016, found those assets—on January 20, 2018—to be worth about $142,000, due to Trump’s economic policies. Trump’s policies have helped Blacks, Hispanics, and women more than any of the socialist policies of Barack Obama. For eight years, Obama economically harmed all working-class Americans—whether they were black, brown, white, male or female. However, the socialist policies of Barack Obama—that were strangling economic growth and ruining America’s chances to be energy-independent and bring back many of its lost manufacturing jobs—have been overturned, with Trump’s free-enterprise-based economic policies now en vogue—and winning!
Defending the Real World: Trump Sets Jay Z Straight
In a recent, early-morning [5:18 AM – 28 Jan 2018] Tweet, President Trump defended his economic policies by trolling Jay Z, the rapper, tweeting, “Somebody please inform Jay-Z that because of my policies, Black Unemployment has just been reported to be at the LOWEST RATE EVER RECORDED!” What Jay Z had said about President Trump, to prompt such a response, was this criticism of the effect Trumponomics has had on America: “You [President Trump] haven’t fixed anything. You have sprayed perfume on the trash can. What you do, when you do that is the bugs come and you spray something and you create a superbug because you don’t take care of the problem. You don’t take the trash out, you keep spraying whatever over it to make it acceptable. As those things grow, you create a superbug. And then now we have Donald Trump, the superbug.” To interviewer Van Jones’s credit, he did point out that Trump had brought black unemployment down, but Jay Z refused to give the president credit, accusing Trump instead of racism, although the president has only instituted policies designed to help all Americans of all ethnicities.
Martin Luther King, Jr., once said, “Life’s most persistent and urgent question is, ‘What are you doing for others?’” President Trump, who recently signed a law making Martin Luther King’s birthplace into a national park, has only acted to improve the economic freedom of black Americans and to show more respect to black history than President Obama ever did. As early as 2012, it became apparent than many poor, inner-city blacks had begun to abandon President Obama, who had turned a deaf ear to their cries. Trump is much more responsive to the plight of black Americans than Obama ever was. And Trump’s actions do not only benefit the black community.
Indeed, Trump’s Golden Rule economy has been good for everyone. It does not discriminate against any group, based on ethnicity or faith. Everybody wins. John F. Kennedy once said, “A rising tide lifts all boats.” And, indeed, the tide is rising, and it is rising fast. Since his installation as President of the United States, Trump took an anemic Obama economy, styled by Democrats as a “recovery,” and made it hum. The limping pace of economic growth went from around two percent up to the four-percent range, in less than a year. Fox News puts it this way: “Trump and the GOP-controlled Congress have embraced free-market and pro-liberty economic policies. Now—after a year of reducing regulations, approving a tax cut, and encouraging stricter standards for numerous welfare programs at the state level—the economy is thriving. Working-age minorities are benefitting in ways they have rarely, if ever, enjoyed in the modern era. The US Labor Department reported Friday that the unemployment rate for African-Americans fell to 6.8 percent in December—the lowest rate since recordkeeping began in 1972. That’s an astounding drop from the 8.3 percent black unemployment rate in October 2016, just before Donald Trump was elected president. Hispanic unemployment was at a near-record low of 4.9 percent in December—down from 5.7 percent the month before the election of President Trump. Additionally, there were four months in 2017 in which the Hispanic seasonal unemployment fell below 5 percent—the only time that has occurred in a single year over the past 44 years. Asian-Americans, the demographic group that typically has the lowest unemployment rate, enjoyed a 2.5 percent unemployment rate in December—the lowest figure since 2006. The overall U.S. unemployment rate in December was 4.1 percent, matching the lowest level in 17 years—down from 4.9 percent in October 2016.” And the news about citizens on government relief programs is also good, with historically huge and rapid reductions in the welfare rolls, due to the rapid increase in employment across the board for all Americans. Trump’s economic policies empower all Americans while discriminating against none!
From “Trump Bump” to “Trump Miracle”: November 9, 2016, to Present
The truth about Obama’s economy is that, once he left office, an immediate reversal of all his unconstitutional executive actions and hurtful economic regulations took top priority in Trump’s presidential administration. EPA overreach—that illegally put entire industries on notice that they would soon be regulated right out of existence—was reined in. Twenty-two economic regulations were canceled for each new one being written (far exceeding Trump’s promise of a 2-to-1 ratio). This loosening of federal rules was, and is, important, but what really seemed to start things off with a bang was Trump’s boundless energy for contacting big-company CEO’s daily—starting the day after his election—to let them know a new sheriff was in town who would reward businesses who remain in America and punish those who leave.
The plan for a tax-cut stimulus that would allow businesses to operate in the USA, without being punished economically for doing so, was the Big Promise that the new president knew he would have to come through with, or else risk losing the optimism that had begun driving the stock market upward the day after his historic election. Since November 9, 2016, the stock market—which is always forward-looking—began to rise. Per Valueline, the same day Trump began a presidential transition unlike any ever seen before, “As we approached the closing hour in New York, all three of the major market indexes had gained solidly on the day, with the Dow Jones Industrial Average posting a 257-point advance.” And it did not stop there. On January 20, 2018, Trump’s one-year anniversary as POTUS, the Dow Jones Industrial Average stood at 26,071 points, which is a gain of 7,738 points over the 18,333 points at which it stood at the close of business on November 8, 2016. This means that, at the close of business on January 19, 2018, Donald Trump had overseen a stock market the likes of which has not been since FDR’s first year in office. We are talking about a 42% increase in the value of the US economy, per the Dow Jones Industrial Average. Almost eight trillion dollars of wealth creation have transpired since Trump’s election! No wonder so many who were initially referring to a “Trump Bump” are now speaking of a “Trump Miracle.” In 100 years of the Dow Jones Industrial Average, America has never seen such a booming economy.
A Few Stock Market Indicators
As reported by The Gateway Pundit, the following statistics were true, as of December 29, 2017:
1) The Dow’s 2017 market performance, increasing in value by nearly 5,000 points during the calendar year, was 40% better than the next-best year on record.
Since the election, the Dow cruised past six major milestones—19,000, 20,000, 21,000, 22,000, 23,000 and 24,000. (And, since the beginning of 2018, past 25,000 and 26,000 as well.)
2) President Trump’s stock market rally has brought with it more all-time highs—71 of them, to be precise—in Trump’s first year in office than any president has ever seen in a single year. (It bears mentioning that there have actually been, as of January 20, 2018, 88 closing highs since his election, when market optimism really started to take off. It is also true that better than one in four days, since the election, has ended in a new stock-market high.)
3) Many other records were set, including records on the S&P 500 and NASDAQ exchanges, ending those indexes up to record highs as well. These can all be found online by using the search engines of news sites that publish economic news, rather than using typical search engines, such as Google, which always tends to list pages upon pages of leftwing media stories first, often not showing any positive articles about Trump or the economy for many pages. So, go to Eagle Rising, Breitbart News, or The Gateway Pundit; then find the search engine, which is either a magnifying glass icon or a box with the word “search” in it; then type in your topic. Your results, typically, will not bear such bitter fruit as is borne by Google, Bing, or Yahoo.
The Trump Jobs Picture
According to December 2017 data, released by the US Bureau of Labor Statistics, President Trump added about 1.9 million jobs in his first eleven months in office (January 2017 through November 2017) and 2.2 million jobs since his election. (Remember, Trump began working hard, the day after his election, to bring companies to America and to keep companies from leaving.) By contrast, Obama’s economy lost 4.8 million jobs during his first eleven months in office, jobs that Obama said, during his second term, were never to return to American shores. In fact, Obama said to a townhall audience of Americans that Trump was not telling the truth about being able to bring jobs back. This prognostication has turned out to hold just as much water as Obama’s similar speculation that Donald Trump would never be president.
The Bureau of Labor Statistics is now reporting that, under President Trump’s economic policies, more Americans are working than ever before in our history. Over 160 million Americans are bringing home a paycheck! President Trump continues to bring well-paid jobs back into the USA. There were 40,000 new manufacturing jobs in November 2017 alone, according to Automatic Data Processing, as well as 190,000 new jobs overall on private payrolls. The number of new manufacturing jobs was the highest in the history of ADP!
Gross Domestic Product
Obama was the first US President since Truman not to have a single year’s growth topping 3%. President Trump has turned this around. His first quarter started off with the Obamaesque figure of only 1.24%. However, as the Trump Train began to pick up steam, the second quarter turned in a performance of 3.06%. Trump’s third quarter improved to 3.3%, followed by a fourth quarter projected to end at 3.9%, possibly 4.0%. This will bring Trump in at a 2.9% or 3.0% GDP rate for his first year in office—quite a turnaround! US Gross Domestic Product now stands at $19.5 trillion, the highest in history!
The Trump Tax Cut
Currently, Americans for Tax Reform is keeping up with information about how the Trump Tax Cut is benefiting working-class Americans: “Thanks to the Tax Cuts and Jobs Act, at least 272 companies have already announced wage and salary increases, bonuses, or 401(k) match increases. . . .” According to ATR, “At least 3 million Americans are receiving special tax reform bonuses. This number does not even include those receiving pay increases or increased 401(k) contributions from their employer due to tax reform.”
And, despite the negative messaging by Democrats that the benefits to working Americans are nothing more than “crumbs” or “a drop in the bucket.” Americans are about to find out the truth—if they have not already—when they begin to realize the effects on their pocketbooks on their February paychecks.
Breitbart News has reported that “House Minority Leader Nancy Pelosi said bonuses—up to $2,000—that companies are handing out as a result of President Trump’s tax reform plan are ‘crumbs’ yet praised former President Barack Obama’s $40 tax cut for workers in 2011.” And Senate Majority Leader Chuck Schumer has said that “the truth is these one-time bonuses are a drop in the bucket compared to what corporations could be doing for their workers.”
But corporations are literally giving away billions to their workers. Apple alone is bringing $350 billion of investment to the USA, in order to create jobs and wealth in the booming Trump economy, with Apple CEO Tim Cook saying that “President Trump’s tax plan would result in a faster-growing economy and greater job creation.”
From Obama’s Social Justice for the Few to Trump’s Economic Justice for All
Obama claimed that he was bringing so-called “social justice” to those who needed to be empowered. But the truth is that, in the end, “social justice” turned out to be no more than a synonym for “socialism”—a failed economic model which has never succeeded for any country in creating a better, richer life for its citizens. Even now, as Venezuela starves and suffers under its own dictatorial socialist regime, the Democrat media are tending to ignore the story, since it demonstrates how America would end up if it were to continue with Obamanomics for much longer or adopt the dystopian statism of a Hillary Clinton, a Bernie Sanders, or an Elizabeth Warren.
The good news for Trump is that his support in minority communities is already on the increase. Apparently, Trump’s “pushing employers to hire Americans instead of lower-wage migrants” along with his economic policies and tax-cut stimulus have all been working to allow many in minority communities to recognize that Trump’s economic justice for all is helping them out more than any pie-in-the-sky “social justice” ever did. The truth is that “[t]he disconnect between what congressional Democrats are saying about the recently enacted tax cut and what is happening in the real world is so wide that it is getting difficult to see across the chasm.”
Let us hope that reality continues to rear its ugly head and that more and more Americans start to become aware that Equal Justice for All is not a racist policy, but just the opposite. Acting to help all Americans, rather than only minorities, does not make Donald Trump a racist. In fact, Trump has always treated every American with equal respect, in his business dealings, in hiring for his businesses, and in his private life as well. Only after running for president did Trump begin to be accused of racism and receive such unfair media coverage. However, despite media accusations of racism, Trump has always believed in Kennedy’s rising tide that “lifts all boats”—thus helping all Americans. This is the kind of economic fairness Americans have needed for some time. And, indeed, Donald J. Trump is just the president to give it to them.
The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com