Diane Sori
by on January 6, 2020
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By: Diane Sori / The Patriot Factor / Right Side Patriots on American Political Radio
What a year 2019 has been for President Trump, “We the People,” and especially for the U.S. economy. And while Democrats have been screaming “impeachment” ad-nauseum since the day President Trump placed his hand on the Holy Bible and swore his allegiance to protect and defend the Constitution of these United States, it's “We the People” who have been subject to both their and the media's nonstop “impeachment” bloviations. And to make matters worse, at the same time “impeachment” is being shoved down our throats we see Democrat economists working hard to try and scare the America public into believing that a “recession” is close at hand. And they're doing so while ignoring the recent key economic indicators that show that not only will the American economy remain strong but that it will remain so at least through a second Trump term in office.
Actually, the American economy and "the dollar" is growing stronger by the day, an example of which was recently seen on December 21st...the Saturday before Christmas... "Super Saturday" retailers call it...the day that saw the highest level of sales in U.S. retail history. On that day American consumers spent $34.4 billion which exceeding expectations while breaking last year’s "Super Saturday's" record of $31.9 billion. In fact, between November 1st and Christmas Eve, retail sales grew 3.4% over the same time last year.
Trump's economic win number one.
But how was this win accomplished...simply via President Trump's stellar economic policies and 2019's record low... as in 3.5%...unemployment numbers. And that number saw black, Hispanic and Asian Americans seeing their unemployment numbers reaching the lowest levels ever recorded while there was also an overall increase in the number of jobs created; weekly wages increased faster than inflation; and wages for rank-and-file workers rose at the fastest pace in more than a decade. In fact, not only did the bottom 25% of wage earners see their salaries rise 4.5% in 2019, but the top 25% of wage earners saw their salaries rising 2.9% as well. But more importantly, for the first time since 2010, by this past November's end, wages for low-skilled workers had risen to such an extent that said wages actually tracked that of high-skilled workers.
And all this translates into more monies finding its way into “We the People's” pockets. And with more money in our pockets we had more money to spend...money which not only continued to bolster our economy but which showed just how strong America's consumer confidence is at this point in the Trump presidency.
So with 2019 ending on such an economic high note, and with said consumer spending the highest it's been in over twenty years, especially with consumer spending now fueling 70% of the GDP, 2020 economic indicators and economic projections both show no sign of the economy heading into a “slowdown” let alone into a “recession.”
Thus, Trump's economic win number two.
In fact, not only are the American worker and America's retailers happy but the stock market is happy too, as it continued to reach record high numbers both before and after the Christmas shopping season drew to an end. And what helped to fuel this most recent stock market surge...a surge which had been steadily building over the past few months...a surge that just this past Friday saw NASDAQ closing at the all-time high of 28,868.80? How about Trump's cutting back on both foreign and domestic business regulations; his 2017 corporate tax cuts; the recent passage of the U.S.-Mexico-Canada trade agreement (USMCA); in addition to the news of a “Phase One” trade deal with China having been reached thus signaling the beginning of a possible end to U.S.-Chinese trade war.
And these indisputable facts forced even the uber liberal Democrat mouthpieces over at CNN having to admit, as per their own recent polls, that 76% of those Americans surveyed now rate the U.S. economy as being “very” or “somewhat good”...up from 67% this time last year....with no better numbers having been seen since 2001.
Trump's economic win number three.
So much for the Democrats crying that “recession” is on the horizon for the fact is that if the economy continues to remain strong...which it's expected to do as the stock market continues to rise; inflation's being held in check; the GDP is holding strong; and with labor market data continuing on the same upward trend that we've seen this year...and if the American worker continues to see more monies in their paychecks and hence in their pockets...as also is expected...then the Democrats impeachment brouhaha will surely be relegated to the back burner with the pilot light remaining unlit all the way up to the November 3, 2020 election.
And when you combine these above three economic wins together you can see how it helps to draw foreign direct investment (FDI)...as in "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans”...into our country. And to show just how well President Trump's economic policies are working, in the year 2018 alone... the latest final figures currently available... expenditures by foreign direct investment (FDI) to either acquire, establish or expand U.S. businesses totaled $296.4 billion, an 8.7 percent increase from $272.8 billion in 2017, Trump's first year in office.
And here we can see Trump's economic win number four.
Also, as per Market Watch, in 2016...Obama last year in office...we saw almost 98% of all foreign investment here in the U.S. involving the acquisition...the takeover...of American companies as opposed to foreign investors starting up new U.S. based flagship businesses. And with 2016 seeing foreign investors spending just $5.6 billion to start up new businesses and spending even less...as in $2.2 billion...to expand already existing U.S. businesses, now under President Trump and the growing U.S. economy in addition to the long overdue lowering of corporate tax rates, last year’s foreign direct investments (FDI) so-called “inflows” were the fifth-strongest over the past decade with reinvestment of earnings making up more than half of all foreign direct investment here in the U.S. And this occurred even though many countries with “mobile capital” saw countries like China becoming more attractive to foreign investment. More on China shortly.
And it was and remains President Trump's economic policies that also helped our economy to rapidly grow by his working to keep American company jobs and company headquarters here the U.S. And Trump did so via cutting corporate taxes and by his reducing Obama's over-burdensome regulation barriers, which in turn not only aided in bringing American companies back home but helped to draw foreign investment back to America but as well. And with our economy not only strong and stable but growing, and with our GDP... again a key economic indicator...also growing, A.T.Kearney...one of America's leading global management consulting firms...has now flagged the Trump administration’s “protectionist rhetoric”...which actually a good thing...as the main reason why overseas investors are once again seeking access to the large U.S. market...the world's number one consumer market economy.
Now as for China, the world's second largest economy, the Democrats...both politicians and economists...love to tout that our still in place trade barriers with the communist country is a negative for President Trump and thus a weak spot in his striving for a second term in office. And while this trade war has been ongoing for nearly 18 months with the U.S. and China imposing tit-for-tat tariffs on hundreds of billions of dollars worth of each other's goods, both sides of course view said trade war from a different perspective. How so? While President Trump rightfully has long accused China of unfair trading practices, currency manipulation, and intellectual property theft, China sees the U.S. as trying to “curb its rise” as a global economic power.
And while our two economies remain fundamentally very different in nature...ours being a “free market” capitalistic economy and China's being a socialist market economy... as in both state-owned enterprises and public ownership existing within said market economy...President Trump was recently able to secure, very much to the Democrats chagrin, "Phase One” in his attempt to de-escalate the trade war between our two countries. Now seeing a moratorium on new tariffs and a rollback of other tariffs by both our sides, China also has agreed to import an extra $200 billion of American goods and services over the next two years. As per Chinese officials these imports include agricultural purchases, intellectual property protection, tech transfers,“financial opening and currency"...exactly what that means is still somewhat ambiguous...with China in turn now agreeing to hold off on reimposing its previous 25% tariff on all U.S.-made cars and its corresponding 5% tariff on all auto parts.
Trump's economic win number five...and a diplomatic win as well.
And while the negotiations to officially end the trade war are still ongoing, the agreeing to “Phase One” most assuredly does reduce what were escalating tensions between our two countries...tensions that if left unchecked could harm for the long term not only the U.S. and Chinese economies but other global economies as well.
First, how has the trade war affected the U.S. economy? Simply by “cause and effect” what with Beijing imposing higher import tariffs on U.S. agricultural products, thus negatively affecting the selling of said products to China, which left President Trump having to "bail out" if you will, those now hurting in the farm belt. And how has the trade war with it's escalating U.S. export tariffs affected China, the very country now desperately trying to fix its debt and problematic economic situation? Basically by raising concerns about the strength of China's external and domestic demand for U.S. products, thus affecting both directly and indirectly Chinese services such as logistics, wholesale trade, and trade finance, all while business “sentiment and investment” has remained strong here in the U.S. In other words, the trade war has negatively affected China way more than it has affected us
And lastly, how has the trade war affected the global economy? Mainly by way of “collateral damage.” Again how so? As per not only leading economists but economic realists as well...as in the everyday consumer...seeing the world economy in general having been subject to the fallout of not only high tariff barriers but economic depression and ongoing pockets of expensive foreign wars, governments themselves forget that the road to economic prosperity can and should be unlimited...if handled correctly that is...and that consumer prosperity benefits a given country's economy. Simple translation: prosperous consumers equals a prosperous nation.
And it's the overall economic prosperity that we are seeing here in America under President Trump that has led our country, even with its drop in exports to China and with a shaky global economy, to not hurt as much as other countries are economically hurting...that coupled with our increasing consumer spending base which, too, is courtesy of Trump's successful economic policies.
So as 2020 begins America's economic future remains bright contrary to the musings of the Democrat naysayers. And when all is said and done isn't the economy, more jobs being created, and more money in “We the People's” pockets more important than the sham known as “impeachment”...I would certainly hope so.
Vote Trump 2020...if for no other reason than to keep America's economy strong...which benefits "We the People's" pockets as well. Case closed.
Copyright @ 2020 Diane Sori / The Patriot Factor / All Rights Reserved.
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For more political commentary please visit my RIGHT SIDE PATRIOTS partner Craig Andresen's blog The National Patriot to read his latest article on the Trump impeachment.
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RIGHT SIDE PATRIOTS...LIVE!
Tomorrow, Tuesday, January 7th, from 7 to 9pm EST on American Political Radio, RIGHT SIDE PATRIOTS Craig Andresen and Diane Sori discuss 'Overall Good News on the 2019 Economic Front'; Craig's latest take on the Trump impeachment; and important news of the day.
Hope you can tune in at: http://listen.samcloud.com/w/73891/American-Political-Radio#history...or on Tune-In at: https://tunein.com/radio/American-Political-Radio-s273246/
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