Posted on 08/17/2020 3:34:55 PM PDT by familyop
The fastest economic recovery in U.S. history
Under President Trump, America built the strongest economy the world has ever seen. The stock market broke records, the unemployment rate dropped to its lowest level in half a century, and income inequality fell as blue-collar jobs returned to our country.
Then, as a pandemic from China spread across the globe, President Trump made the difficult but necessary decision to shut the economy down to slow the spread of COVID-19.
🎬 President Trump: We are witnessing the fastest recovery in history!
Now, as we safely reopen, our economy is surging back faster than anyone predicted:
* America added over 9 million jobs from May through July—beating market expectations three months in a row. President Trump’s historic, bipartisan relief package alone is estimated to have saved over 50 million jobs.
* Retail spending has fully recovered and is now at an all-time high.
* Industrial production rose for the third straight month in July, with factory output up 3.4 percent last month after a 5.7 percent surge in June.
* The NASDAQ and S&P 500 stock indices are trading at or near record highs once again, lifting Americans’ 401(k)s.
That result is no accident. After the financial crisis more than a decade ago, it took America over four years to regain 9 million lost jobs. But following the Coronavirus shutdown, it took the Trump Economy only a few months to do just that.
“We had such a strong foundation that we’re recovering much faster than anybody anticipated,” President Trump said at a news conference on Saturday.
In addition to pro-growth, pro-worker policies long before the crisis—including tax cuts, deregulation, renegotiated trade deals, and more—President Trump responded to the pandemic by using the Defense Production Act to lead the greatest mobilization of American industry since World War II.
The Trump Administration has exercised the DPA and related authorities 78 times so far, dispersing over $3.5 billion to speed the development and manufacture of essential materials here at home. President Trump mobilized the productive power of General Motors, for example, to create thousands of ventilators for Coronavirus patients.
As a result, GM repurposed its Kokomo, Indiana, plant in just 17 days. It has now produced over 21,000 ventilators.
Other companies, including Ford Motor Company, GE, 3M, and Puritan Medical have partnered with the Federal Government to ramp up production of everything from N-95 masks to testing swabs. This nationwide effort is boosting American manufacturing, creating jobs, reshoring supply chains, and replenishing our Strategic National Stockpile.
“New factories, businesses, and laboratories are being built all over America to match our Nation’s demand for personal protective equipment, pharmaceuticals, drugs, testing supplies, therapeutics, and vaccines,” President Trump said.
President Trump’s “Made-in-America” strategy is crucial for defeating this virus, important for restarting our economy—and essential for restoring our country’s promise.
🎬 President Trump: An incredible comeback is underway!
MORE: We have rebuilt America’s Strategic National Stockpile
NYC, Chicago, SF, etc. won’t be recovering tho.
Makes one wonder if they weren’t Babylon The Great collectively.
Imagine what it could’ve done withOUT democrat interference.......
True! We shouldn’t have let the House go in 2018. Let’s push ‘em back, and take every inch of the government that we can get! And remember the judicial appointments! Four more years!
The fedgov rained down trillions from the heavans. That is what this is. But now what? Lowe’s and Home Depot became crowded with people buying for construction projects. OSB sheets wend from $9 to almost $19, and 2x4 studs became scares. But now it’s a ghost town. Looks like the money was spent, and now here we are.
I’m hoping it’s a recovery, but I’m a bit concerned it’s a dead cat bounce. Meanwhile, all those recently devalued dollars have to go somewhere. Enter the stock market, real estate and precious metals. They’re all up. It’s not that any of them are worth more. It is that the dollars seeking them out are worth less.
Big cities are dead. Atlanta Braves saw it coming. So they relocated to Cobb County and invested in a new development.
They are not finished destroying It yet!! They have 2 1/2 months left to destroy it to get Trump out l... they have alotta nasty tricks under their sleeves.
Portland, Seattle and Atlanta aren’t far behind.
Trump is not resting on his laurels. His energy levels, in a man his age, are a sight to see.
The idea that the economy is going to be fine is nonsense.
How’s the service sector doing?
Soon I expect the real estate market to do poorly.
Especially TODAY!
Hey Joe,its the economy stupid.
You just wait til the free chit stops, that’s when the real damage will materialize. It won’t be pretty.
President Trump did promise the change towards more of a production economy and away from being servants for the newly rich from countries like China. President Trump is following through on that promise. With the trade imbalances and balance of payments deficits from foreign trade, we were in a regime of increasing debts.
American first, so change would have happened anyway. Where jobs are increasing the most, the pay will be far better. We will still have a large service sector, but only if the revenues feeding it are more sustainable (manufacturing and other production) than revenues that come from big government spending (government employees, government contractors, other services and the like).
We must produce!
New Career Opportunities Await in Post-Virus Economy
https://www.cincinnati.com/story/opinion/2020/08/01/opinion-new-career-opportunities-await-post-virus-economy/5559235002/
https://findsomethingnew.org/about/
(see the list of supporters along with Walmart, IBM, Home Depot, Apple and others, including The White House pledge to America’s Workers!)
I like President Trump’s plan, and of course I’m voting for him.
But the idea that the shit isn’t going to hit the fan, no matter what, is ridiculous.
Post 6... good analysis.
Soon I expect the real estate market to do poorly.”””
Demand for Lake Tahoe homes/properties is far outpacing the available sellers. San Fran has finally seen some of the light-—
People in New York City are buying up homes elsewhere-—ON THE INTERNET!!! One seller in N Carolina listed his property for sale. Sold off the internet without actual viewing was asking.
MY property is for sale, but I do NOT expect anyone to just look at it on the internet & buy it....no matter how many pictures are there.
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