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.
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