FLASH: The US economy will mark 10 years of expansion in July, the longest on record. Strong job gains have been a Key feature.
After years no growth the US economy has made a huge comeback. The credit can only be given to President Trump’s promised rollback of the tax and regulatory schemes implemented from Y 1993 until November 2017.
Below are 10 facts since then that prove this is the best overall economy in more than 50 years, as follows:
- Employment: This is the best labor market since Y 1969 with low unemployment, more jobs and rising wages.
- GDP: President Trump is the 1st President to have GDP consistently higher than 3%, President Barack Hussein Obama was only the President to fail to achieve 1 year of 3% GDP growth.
- Wages: President Trump is the 1st President to improve wages in a generation where income is at an all-time high.
- Stock Market: The US stock market has risen more than 40% since President Trump’s election.
- Gasoline and Fuel Prices: Gasoline prices are low in most US states that do not over-tax fuel with local and state taxes. Many states have $2.15/gal gasoline now. Gas prices may fall this Summer according to the latest stockpiles and demand data.
- Ethnic Employment Success: The employment success for all ethnicities is at record high. Mr. Hussein Obama had difficulty creating jobs and many people gave up looking for work.
- Manufacturing Jobs: Manufacturing jobs are back in the US for the 1st time in a generation. President Trump created 284,000 manufacturing jobs in Y 2018, as millions of manufacturing jobs were lost during Mr. Hussein Obama’s 1st 2 years in office. Some 1 in 6 were lost between January 2008 and March 2010 and Mr. Hussein Obama never got those jobs back. He predicted that President Trump would not either.
- Taxes and Regulatory: Corporate taxes were cut from 35% to 21%. America moved from worst tax system up to 1 of the most competitive in the world under President Trump during his 1st 2 years in office. Lower tax rates allow US companies to spend more money, buy more assets, pay more employee benefits, buy stock back to put money on Main Street and into state coffers, and help pay better dividends to seniors in retirement.
- NASDAQ: The NASDAQ stock market valuation exceeded the Y 1999 prices under President Trump. This tells us that companies were stagnant for 18 years until President Trump took office.
- Level the Playing Field: With a mixed bag of tax-code improvements, cutting of Red Tape, new trade agreements, and competitive tariffs, the US economy is more insulated from failure. Even the Fed is willing to lower rates when other countries harm the US trading environment.
“With lower taxes, more jobs, no war, and a strong stock market, the US may be poised to maintain the economic boom started by President Trump. After a generation of war and unemployment problems, it is possible that the US can have lasting prosperity if it continues to utilize common-sense economic strategies; however, the youth of our country must pay the $10-T of new debt created by Obama,” writes George Mentz JD MBA CWM Chartered Wealth Manager ® and CEO of GAFM ® global education.
Because of technology and other efficient systems, inflation is remaining low. What is unique now is that the Fed in this new era seems to create artificial inflation rather than slow it down. Thus, we are in a new model of The Trump Era and we are now competing with the other 180+ countries around the world and the most business friendly Super power.
The Big Q: Can the economy blow up again?
The Big A: Yes, if there is a combination of forces of debt, lower productivity, higher taxes, higher interest rates, lower foreign investment, and less spending. The biggest problem is paying unfunded liabilities and the debt created by Mr. Hussein Obama. So, the only way out is to continue to create jobs, get people off of public assistance by allowing great jobs to be created, create more government revenue through lower taxes on a larger group of new producers, and lower the costs of running government. The Trump Administration experts are working on a program to eliminate that possibility.
Making and Keeping America Great!