Elder Patriot – A new factory report reveals that President Trump’s Maganomic plan is steaming ahead and gaining momentum. In the process the president has been busy exposing the economic globalists’ shills.
Obama seduced fawning Americans with solid, if unimpressive, stock prices. Try spending that at the grocery store. Right, you can’t. That proved especially true for the tens of millions of American workers who became unemployed or underemployed while Obama was in office.
The Obama strategy was to allow the offshoring and vertical integration of larger and larger companies until they virtually swallowed their competitors. This allowed companies to trim payrolls by eliminating redundant workers.
Coupled with virtually unfettered immigration, the wages of American workers stagnated or shrunk. Profits soared but America suffered. Corporate America laughed all the way to the bank while Wall Street rejoiced.
Backed by the strength of lobbyists like the Chamber of Commerce and the Business Roundtable this had been the policy of successive presidents beginning with Bush I up until the time Donald Trump kicked it to the curb.
President Trump understands this is fool’s gold. This, more than anything else, is the reason he decided to run for president. Declining employment, increased reliance on government services, and negative real wage growth do not combine to make a healthy nation.
Trump’s economic policy is based on growing all sectors of the economy and that includes manufacturing. He has unshackled the manufacturing sector and, like a bird released from captivity, it is once again soaring.
American factory activity accelerated for the second straight month this summer, in part because manufacturers were scrambling to move goods ahead of threatened tariffs.
The Institute for Supply Management on Monday said its manufacturing index rose to 60.2 in June from 58.7 in May.
This is the highest level since May 2004. More importantly the report says the fundamentals are there for sustained growth:
“Comments from the panel reflect continued expanding business strength. Demand remains strong, with the New Orders Index at 60 percent or above for the 14th straight month, and the Customers’ Inventories Index remaining low. The Backlog of Orders Index continued to expand, reading at 60 percent of higher for the third consecutive month. Consumption, described as production and employment, continues to expand in spite of labor, skill and material shortages. Inputs, expressed as supplier deliveries, inventories and imports, had expansion increases, due primarily to negative supply chain issues. Lead-time extensions, steel and aluminum disruptions, supplier labor issues, and transportation difficulties continue. Export orders expanded at higher rates. Price pressure remains strong, but the index saw its first expansion softening since November 2017. Demand remains robust, but the nation’s employment resources and supply chains continue to struggle.”
That means more jobs a comin’ and with them wage increases – significant wage increases – will be next.
There’s no doubt that President Trump is winning for the American people. There’s also no doubt that the globalist shills – with trillions of dollars at stake – aren’t going to go away without a major fight.
Mitt Romney’s successful campaign in Utah shows they are still a formidable force to be reckoned with.
But, American take heart, the longer Trump beats back the elitist economic bullies the more Americans will embrace his presidency.
Let the good times roll!