But President Trump will not make America great again.
We will.
A totalitarian government would assume control of the means of production, as Barack Obama bailed out of GM, and dictated GM push the Chevy Volt, a hybrid-electric Trabant. The $1.5 Trillion spent on TARP and a stimulus were also attempts at a centrally planned economy, in which the government chooses the winners (Goldman Sachs) and the losers (Lehman Brothers).
President Trump is the opposite.
Instead of pouring money into the government, Trump is cutting spending.
Instead of expanding rules and regulations, Trump is cutting these restrictions.
Instead of pouring trillions into corporate America through TARP, a stimulus, and quantitative easing, Trump is getting businesses to invest in America again.
Carrier, Ford, Sprint, et cetera, are pledging billions to build the private sector economy because that is where the money is.
Companies are seeking profits because Trump is removing the government subsidies and the world's heaviest corporate tax burden.
Business confidence is back. Under Obama taking office in 2009, business confidence disappeared because he is a Marxist.
From Bloomberg:
Optimism among chief executive officers of some of the largest U.S. companies jumped in the first quarter by the most since the economy was emerging from the last recession, as the outlook for sales, the labor market and investment brightened considerably.
The Business Roundtable’s CEO Economic Outlook Index -- a measure of expectations for revenue, capital spending and employment -- jumped 19.1 points to 93.3, according to the group’s survey released Tuesday. The increase, the biggest since the final three months of 2009, left the gauge above its long-run average of 79.8 for the first time in seven quarters. Readings above 50 indicate economic expansion.
The survey is yet another in a series of confidence measures that have shown sizable upswings among businesses and consumers following Donald Trump’s victory in the November presidential election. While companies have said they’re encouraged by his plans to cut corporate taxes, reduce regulations and invest in infrastructure, the real test for the economy is whether they follow through with more capital spending and hiring.Remember, billionaire Mike Bloomberg hates Trump but unlike Jeff Bezos and his Washington Post, Bloomberg plays it straight with his news organization.
I love this quote from Democrat Jamie Dimon, CEO of JPMorgan-Chase: “I am enthusiastic about the opportunity to enact a meaningful pro-growth agenda that will benefit all Americans. As these results confirm, business confidence and optimism have increased dramatically.”
In fact, Dimon is downright Trumpian about the economy.
From Yahoo:
Speaking on Tuesday to reporters on behalf of the Business Roundtable, an advocacy group Dimon currently chairs, he said the act of repatriating corporate cash held outside the U.S. back into the country would spur substantial economic growth, regardless of how companies use those funds.
"If all companies did [with repatriated funds] was pay dividends and buy back stock, think of that as QE4 ... and far cheaper, in my opinion," Dimon said, comparing the stimulative effect to that of the Federal Reserve 's multiyear monetary easing. "The shareholder will decide what to do with it. It's not like it disappears after that. It is fuel to the system."
Dimon warned that putting restrictions on how repatriated funds could be used might preclude the U.S. from economic activity that would remain abroad instead.
"That money that isn't brought back is going to be reinvested in a foreign country, in a plant or acquisition, which has been happening, and never to return," he said.
Moody's estimated untaxed profits overseas would reach $1.77 trillion at the end of 2016, up from $1.68 trillion at the end of 2015.A private sector stimulus that will not add to the National Debt and will be invested in money-making schemes that create real jobs.
Imagine that.
Trump is doing what Ronald Reagan wanted to do, but was unable to do because Democrats controlled the House.
A Reagan's hero -- Calvin Coolidge -- said: “The chief business of the American people is business.”
We're back in business, boys and girls.
"Trump the Establishment" is now on Kindle.
"Trump the Establishment" is also available in paperback.
This is the sequel to "Trump the Press," which covered the nomination. The original -- "Trump the Press" -- is available on Kindle, or in paperback on Amazon.
Autographed copies are available by writing me at DonSurber@GMail.com
Please follow me on Twitter.
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Prime rate going up says it all. I'm betting on two more increases this year.
ReplyDeleteEvery rate increase makes it that much harder for the Federal budget to carry the interest load on the $20T national debt. The cost of refinancing that debt will crush much of the discretionary spending in Trump's first annual budget, which is why he has to cut spending to the bone. Accept the fact that the freeloaders are going to complain no matter what Trump does to keep next fiscal year's budget deficit from exploding and reaching $1T.
DeleteEven a Democrat recognizes Good Times Ahead.
ReplyDeleteTrump gets how economics work.
ReplyDeleteMost Leftists don't.
Awesome read. TY.
ReplyDeleteHow'd the market do today? Umm, tasty.
ReplyDeleteRetired in 2006 the first time. Me and my financial adviser picking losers such as Lehman Brothers, not too politically connected so not saved by the government and unknown to me/him was invested heavily in the Democrat's mortgage derivatives, cost me half of my life savings for retirement and losses for him too. Worse, the Obama bankruptcy court sold $1.3666 billion of the assets to Warren Buffett's Berkshire Hathaway to apparently preserve the jobs; funny that. Somebody got the money but not the bond holders like me.
ReplyDeleteOver 40 years of saving and doing with less than my friends/coworkers was greatly wiped out almost overnight. Then to top it off, at 70 I worked in the Alberta, Canada oil fields to recover, saved a bunch which was stashed in a Canadian bank and then saw the oil price plunge, got laid off and saw my Canadian dollar savings drop from 101% to 75% the value of the US dollar.
I can't win for losing, it seems.
Fortunately I saved more than enough to survive, but also without my debt paid off as anticipated. Between losing 25% on the Canadian money and the taxes on my IRA holdings, paying them off would be a big hit on my resources. So I am not starving, but one sometimes wonders if doing what was right and sacrificing to achieve a goal in retirement was worth it when you look around you at the government giveaways.
Yea, I did what was right for my family but I really hope that MAGA happens for my children because as I certainly know, life isn't fair.
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