WASHINGTON. As we noted in our earlier article, today’s real news story was the continuing, relentless power of the ongoing Trump Bull Market. Although interrupted by brief and sometimes intense downdrafts, the rally has persisted. It continues to top previous estimates on a regular basis. Although it will come to an end some day, it’s not ready to give up the ghost quite yet. We saw this in Wednesday’s mixed trading action on Wall Street.
Despite the insistent Deep State naysaying, President Trump’s economic successes continue. That, in turn, is why the MSM’s fake news counterprogramming continues to fail. Wednesday’s ongoing media Manafort / Cohen freakout aside, there’s real news to report. That includes today’s very real and very positive economic news from the White House.
It’s hard to find amidst the MSM Babel of very fake news. In case you missed it, here it is.
The White House delivered the real news Wednesday: Trump and the GOP really are Making America Great Again
The White House today celebrated renewal of American pride, innovation and growth by issuing the following statement:
Today will mark another milestone:
In America’s incredible economic boom: At 3,453 days since the S&P 500 hit its low point during the Great Recession, U.S. stocks are poised to surpass their longest-running rally in history.
Recent gains, “aided by the U.S. corporate tax cut in December, deliver a rebuttal to skeptics,” The Wall Street Journal reports. The evidence in support of President Trump’s economic agenda is stacking up: wages are rising, GDP growth cleared 4 percent last quarter, and unemployment recently fell to its lowest rate in decades.
Americans are now more assured than ever about their financial health and economic futures. In addition to soaring levels of confidence reported in surveys of America’s small businesses and manufacturers, today’s stock market record reflects real value for middle-class Americans with 401(k) or pension plans.
The Obama bull market?
Obama apologists prefer to own the ongoing Trump Bull Market, while downplaying Trump’s heroic work in getting it underway. And for good reason. After 8 dreary years of Barack Obama’s business-killing executive orders, stocks suddenly got juiced the morning of November 9, 2016. That’s when the world awoke to shocking news. A rich, vulgar, New York City-based political novice vaulted over the Smartest Woman in the World. In the process, he became America’s next President Elect.
After spending an hour or two in a spectacular downdraft that day, Wall Street reversed itself. In the twinkling of an eye, traders launched a massive bull market rally to end all rallies. The Trump Bull Market was already underway.
But whose bull market is this, really?
Obama acolytes and minions like to give credit for 2018’s record-setting bull to the (failed) economic policies of The Lightworker. They brag that since the dark days of March, 2009, we have witnessed major stock averages increase by some 300 percent.
Most of the increase that occurred during the Obama regime was not of his doing, however. It was due instead to the easy money policies of the Bernanke-Yellen Fed. Not the job-killing redistributionist zeal of Obama’s “fundamental transformation.” The Fed, as we preached here many times, got zero percent cooperation from the Obama administration’s dedicated redistributionists.
And they got less than zero support from the Harry Reid Do-Nothing Senate.
Nancy Pelosi, of course, was ousted as House Majority Leader in Election 2010. That returned the control of the House to the GOP, largely due to a voter backlash against the still unpopular Obamacare disaster. Any stock market success during the economically dismal Obama Era was due to the Fed’s QE policies, not the undisguised socialism dictated by Barack Obama and his globalist friends in the Deep State.
It’s the Donald Trump Bull Market. Everyone with a half a brain knows this.
We must emphasize that stocks really began to levitate not because of Obama’s economic policies, but in spite of them. The Fed’s easy money helped corporations substitute massive stock buybacks for real R&D and profit growth, creating considerable paper wealth for the country’s CEOs. But not for the overall economy, and most decidedly not for American workers.
It was only after the shocking 2016 election victory of Donald Trump as Obama’s unexpected successor that the U.S. stock market began its own astounding fundamental transportation. Killing off hundreds of business-crippling regulations within weeks of his inauguration, Trump took over Obama’s “pen” and promptly unwound a decade of business stifling red tape. Almost overnight, steep and enthusiastic gains in equity prices began to pile up in conjunction with record-low market volatility.
The GOP Tax Cut Legislation: Helping the Trump Bull Market hit warp speed
After a brief lull in early 2018, the Trump Bull Market turned into a hyper-bullish rout, courtesy of the hard-fought GOP tax cut legislation. The Republican Congress passed that bill, against all odds, in the waning days of 2017. This breakthrough legislation confirmed the fact that, under Donald Trump, America was about to experience a very different economic environment than the one the country had endured since the dark days of 2008-2009.
“Everywhere we look, we are seeing the effects of the American economic miracle,” President Trump said recently.
Once cautious investors turned almost gleefully positive on the new administrations “pro-growth” policies. The news from Wall Street became considerably more promising with breathtaking speed. The corporate tax cuts passed by the GOP Congress and signed into law by President Trump boosted profits. Economic stimulus programs encouraged Joe Sixpack to return to work. Joe rejoiced in his bigger paychecks, as he and his fellow American consumers spent more on American goods.
Illegal immigration down, U. S. employment up
Economic forecasts show ever-increasing consumer confidence in everything ranging from daily needs to new home building. Today, long delayed home repairs actually get done, savings programs grow daily, and working Americans enjoy more time and spend more money on leisure pursuits, boosting the hotel and travel industries.
Better yet, the higher employment rates encouraged by the Trump administration — largely thanks to a serious slowdown in wage-killing, open-borders immigration — have inspired more individuals to get off welfare and go back to work. America’s workers know this. Yet the media continues to insist on open borders for illegal aliens, the better to hold American workers’ wages down.
There will be another day of reckoning this November. Which means, Mueller et. al. aside, the Trump Administration’s policy of winning is likely continue. After all, who wants to go back to the dark days of Barack Obama’s fundamentally transformed America?
Lead age: One of this week's Wall Street bulls? Photo by Gabriela Palai from Pexels - https://www.pexels.com/photo/brown-highland-cattle-on-field-of-grass-420233/