Tuesday, January 10, 2017

Small business hails Donald Trump. Big business doesn't

"Small business optimism rocketed to its highest level since 2004, with a stratospheric 38-point jump in the number of owners who expect better business conditions, according to the monthly National Federation of Independent Business Index of Small Business Optimism," the organization said today.

Meanwhile, at the Chamber of Commerce, the funereal music continues to play.

President Trump won and indeed does trump you on that, Establishment.

You see, the business lobby is split between the protected and the unprotected, just as the rest of the electorate is. Federal regulations serve as a barrier to competition to the big boys, and NAFTA and WTO status for Communist China allows the big companies to unload production and other work offshore.

The Chamber of Commerce is one of the biggest crocs in the swamp called Washington.

Small businesses suffer. The NFIB -- not the vaunted Chamber -- brought the lawsuit that would have brought down Obamacare in 2012.

Meanwhile, the Chamber is working to undermine the Trump presidency.

From Bloomberg News one month ago:
The U.S. Chamber of Commerce told a closed-door gathering of Mexican and American corporate and government leaders that it is aiming to keep Donald Trump from fulfilling his campaign threat to tear up the North American Free Trade Agreement, according to three people with direct knowledge of the matter.
Tom Donohue, head of the biggest U.S. business lobbying organization, told members of the U.S.-Mexico CEO Dialogue in Mexico City on Wednesday not to panic and to wait and see what the president-elect proposes once he takes office, said the three people, who spoke about the private event on condition of anonymity. The audience included cabinet officials from President Enrique Pena Nieto’s administration, U.S. Secretary of Commerce Penny Pritzker, and more than 100 business and government leaders.
Relations between the president-elect and the Chamber were strained during the 2016 campaign when they sparred over trade policy. Trump made what he called the unfairness of the U.S. relationship with its biggest trade partners a central theme of his campaign, and he singled out NAFTA, which also includes Canada, as ripe for being gutted or renegotiated.
Never Trumper billionaire Mike Bloomberg owns Bloomberg News.

The small business guys won this election.

And they are hiring and investing.

From NFIB's press release on its index reaching an optimistic high not seen since Reagan won the 1980 election:
“We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy.”
The Index reached 105.8, an increase of 7.4 points. Leading the charge was “Expect Better Business Conditions,” which shot up from a net 12 percent in November to a net 50 percent last month.
“Business owners who expect better business conditions accounted for 48 percent of the overall increase,” said NFIB Chief Economist Bill Dunkelberg. “The December results confirm the sharp increase that we reported immediately after the election.”
The other two big movers in the survey, “Sales Expectations” and “Good Time to Expand,” jumped by 20 percentage points and 12 percentage points, respectively.
“This is the second consecutive month in which small business owners reported a much brighter outlook for the economy and higher expectations for their businesses,” said Dunkelberg. “In this month’s report, we are also finding evidence that higher optimism is leading to increased business activity, such as capital investment.”
Sixty-three percent of respondents made capital outlays, an eight-point increase over November. Also, the net percent of owners reporting inventory gains increased six points.
“Business owners are feeling better about taking risks and making investments,” said Duggan. “Optimism is the main ingredient for economic expansion. We’ll be watching this trend carefully over the next few months.”
Ford, Fiat Chrysler, and Toyota have each announced billion-dollar investments in factories in the United States since President Trump defeated the Establishment on November 8.

@@@

Please read "Trump the Press," in which I skewer media experts who wrongly predicted Trump would lose the Republican nomination. "Trump the Press" is available as a paperback, and on Kindle.

It covers the nomination process only. The general election will be covered in a sequel.

For an autographed copy, email me at DonSurber@GMail.com

Be deplorable. Follow me on Twitter.

8 comments:

  1. "The Chamber of Commerce is one of the biggest crocs in the swamp called Washington."

    Choot 'im, Liz, choot 'im!

    ReplyDelete
    Replies
    1. Spelling error, but understandable. The US Chamber of Crony Capitalism is one of the biggest CROCKS in the DC swamp. What the crock is filled with is left as an exercise for the reader.

      Delete
  2. The U.S. Chamber of Commerce needs to be dismantled. Let's see... What's the word for colluding with a foreign government to skirt your own countries laws and policies? Hmmm. I'll have to think on that one for a minute. - Elric

    ReplyDelete
  3. Toyota's billion-dollar U.S expansion has been in the works for two years and it for the company's new headquarters in Texas and upgrades to existing US car plants (which are not located in the Rust Belt). Why do you insist on picking on your Putnam County neighbor?

    ReplyDelete
    Replies
    1. Planned for two years.
      Decided after Trump was elected.
      Had we voted for your candidate, Toyota likely would move to Mexico and maybe shutter the Buffalo plant.

      Delete
    2. Look, who the eff are you, dingleberry? Clearly, someone not interested in American success. Go fix some Hot Pockets for dinner and take em to your parents' basement, you loser.

      Delete
  4. How about we put Tom Donahoe in stocks on the National Mall for a week?

    ReplyDelete
  5. Ann Coulter: Big business likes big government.
    Just like you said and for all the same reasons,Don.

    ReplyDelete