Elder Patriot – Unless Americans are going to be voting against their own financial interests it’s getting difficult to fathom what might fuel a blue wave in November.
Unemployment is at record lows across every demographic group and real spendable income is rising.
Americans are benefitting from massive growth of their 401K’s since President Trump’s election. Since Trump was elected the stock market has gained 39% in value from it’s all-time previous high that came under Obama.
By contrast, the markets gained 36% over the entire eight years of Obama’s tenure from the all-time high under George Bush’s administration.
Trump accomplished this implementing policies counter to leftist theory that the growth of large cap corporations was reliant on outsourcing American jobs and companies while importing unskilled illegal workers in the need for cheap labor.
There was something else that fueled the growth of large cap corporations, the strangulation of small businesses and start-ups that eliminated many of the competitive pressures faced by big business.
All of this large cap economic growth and an explosion of entrepreneurial growth too! Yes! Unthinkable in the static economic modeling used by leftists.
The National Federation of Independent Business now pegs small business optimism at an all-time high. Higher, even than the record high of 108 that Ronald Reagan’s policies had triggered in July of 1983.
In a just released report, the NFIB found:
It’s a RECORD! Small business owners continued to deliver an “amazing” performance, taking the Index of Small Business Optimism up 0.9 points to a record-high of 108.8.
Capital spending plans were the highest since 2007 and inventory investment plans the strongest since 2005.
The August Index has more “muscle” than any past reading. The “hard”component of the Index (job creation plans, job openings, capital spending plans, inventory plans, and earnings) soared to a historic record reading of 107.9. This caps a change in the complexion of the Index which was dominated by the “soft” components (inventory satisfaction, good time to expand, expected business conditions, sales expectations, and expected credit conditions) at the beginning of the record run that started in December 2016, but is now driven by the spending and hiring components, generators of GDP growth.
Oh, my! But surely this isn’t sustainable say the talking heads and Marxist media. Au contraire:
The NFIB has found the outlook for expansion at unthinkable (for Obama and his acolytes) highs.
All of this economic expansion – large cap corporations and small businesses – is accompanied by an increased need for workers. And, with job openings now exceeding the number of workers looking for jobs, companies are being forced to compete for the employees they need.
The result is that finally, real family income is expanding after decades of contraction.
So, I’ll ask again, what exactly will fuel a blue wave this November?
- Abolishing ICE and denigrating law enforcement?
- Returning to the failed economic policies of the past – higher taxes and economy-stifling regulations?
- Continuing to allow China, Canada, the EU, and other nations to feed at our trough creating massive trade deficits under the siren song of marginally lower prices even if it means you, or your neighbor loses their jobs? Even if it that results in an expansion of the social welfare programs that are strangling our children’s futures?
- Open borders that encourage the entrance of illegal immigrants and undermine the economic forces that are now driving up the incomes of American families?
I know what the polls are saying. I also remember what they were saying in the run-up to the 2016 election.
What I see is a president who made promises that moved voters to give him a chance. Now that he has fulfilled those promises, it’s hard to envision those voters jumping off the Trump train at this point.
Of course Trump isn’t on the ballot this year, but his policies are. The RNC also has considerably more resources that they will be dedicating to the Trumponomic message than they spent in 2016. And, that was enough to get Trump elected.
I trust the American voter to get it right, again.