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Monday, January 02, 2017

Trumponomics

Consumer confidence is the highest in nine years and we have not had a Christmas retail season like this in eleven years. Stocks jumped upon President Trump's election.

 The export of jobs has halted, at least at the Carrier furnace plant in Indiana.

Foreign investment is coming as SoftBank in Japan pledged $50 billion.

All that is based on the promise of a Trump presidency. That's the sizzle, not the steak.

Wait till we get to tax reform and the A1 sauce that goes with it.

After eight years of food stamps for us and Kobe beef for the elite, things are going to change. We sense it. We voted for it.

From the Wall Street Journal:
Estimates from retail research firms suggest sales growth in the period—which spans from Nov. 1 to the end of December—could outpace that of recent years.
“American consumers are once again proving many of the pundits wrong, as shoppers flock both to websites and to stores—and not just for returns,” said Craig Johnson, president of Customer Growth Partners, a New Canaan, Conn.-based research firm. “They are shopping at a rate not seen since the mid-2000s.”
The firm raised its holiday-sales growth forecast to 4.9% from an initial estimate of 4.1% growth. That pace, according to the firm, would be the fastest growth rate since a 6.1% increase in 2005. Customer Growth Partners’ forecasts—which excludes auto, car parts, fuel and restaurant sales—are based on a weekly in-house survey of retailers across the country combined with broader economic indicators and historical data.
The final numbers will come later this month.

Oh and there was this:
The year-end retail blitz coincided with new signs of shoppers’ improving health. Consumer confidence levels for December rose to the highest level since August 2001 amid improving expectations for job growth and rising incomes in the months ahead, the Conference Board, a research firm, said Tuesday. Wages have been rising by 2.5% from a year earlier and U.S. joblessness fell to its lowest level in nine years in November, according to the Labor Department.
It has been 15 years since people had this much confidence in the economy.

That would be the difference between 1930 and 1945.

Maybe it is.

Even California is enjoying the resurgence.

From the Orange County Register:
California’s shoppers appear to be warming to a Donald Trump presidency.
The Conference Board’s consumer confidence index for California rose in December to its highest level since October 2007.
This was the first month the continuous polling that tracks shoppers optimism in eight big states and across the nation had fully reflected Trump’s upset win in the November presidential election. Exit polling showed the economy’s future was a major decision-changing topic for presidential voters across the nation.
In California, where presidential votes went heavily in favor of Trump’s opponent, Hillary Clinton, confidence fell for two months in advance of the election, pushing the state’s optimism to a nine-month low in October. The index then rose in November and December in the largest two-month surge in nearly two years.
A new year has begun filled with hope not seen around here since before 9/11.

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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

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5 comments:

  1. "Even California is enjoying the resurgence."

    They'll hate themselves in the morning. Each and every morning, again and again.

    ReplyDelete
    Replies
    1. They SWEAR to hate themselves every morning!

      Delete
  2. This will be a new country when people begin to realize that voting is not about signalling one's virtue to one's self in the privacy of a polling booth.

    ReplyDelete
  3. Obungler prolly thinks this is all due to his policies and has nothing to do with Trump winning the election.

    ReplyDelete
  4. You realize what Trump's doing tweeting all the time, especially before Inauguration?

    1. He's setting up negotiation starting points.

    Ok, I think everyone saw that one, but ...

    2. He's fixing to work out everybody's "tells" before he's dealt in.

    ReplyDelete