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America’s Economy Keeps Chugging, As Critics Search in Vain for Recession

economy

The “nattering nabobs of negativism” – or radical left voices hoping for a Trump recession – are frustrated.  All indicators of a strong economy remain firm.  Unemployment is at record lows, across every major demographic.  Inflation is in check.  Growth continues apace.  Wages are rising, productivity unexpectedly growing, and trade talks with China are back on, after the President met with China’s Xi in Japan. 

It gets better.  Real Gross Domestic Product (GDP), which popped to 4.2 percent in the 2nd quarter of 2018, then stayed at 3.4 percent in the 3rd, went to 2.2 percent, then 3.1 percent in the 1st quarter of 2019, and seems on track to stay high in 2019, as non-farm payrolls grow again in the 2nd quarter.  If an agreement with China is reached in the next several months, the markets are likely to pop again, with or without the predicted Federal Reserve cut in interest rates.

Now, as July begins, another benchmark of strong economic performance hits.  According to the Wall Street Journal, the stock market notched a 17 percent gain for the first half of 2019, best in 22 years. 

Not since 1997 has a year begun that way – and this despite naysayers decrying Chinese and Mexican tariff threats, January’s partial federal shutdown, farmers’ fears for 2019 sales, unending calls for presidential impeachment, tensions with Iran, and fretting by a nervous Fed – which still cannot explain failure of the Phillips Curve, an economist’s tool predicting inflation spikes when unemployment falls. 

The truth is that President Trump’s combination of reduced regulations, major tax cuts, more limited government intervention, renegotiating trade agreements bilaterally, and focus on the consumer and worker, have confounded the voices of doom. 

One grows tired of hearing news anchors constantly downing the president’s strategy, trying to diminish the multiplier effect of corporate and individual tax cuts, rebutting record unemployment with cries of wages needing to grow faster, crediting Obama’s near-recession years for Trump’s roaring economy, predicting all manner of horrors from attempts to hold China accountable, pillorying the President for a tariff threat on Mexico if they did not work to close their southern border, and – well – the kitchen sink. 

Unspoken is a powerful, positive, and for critics – imponderable fact.   Following the tax cut examples of John Kennedy and Ronald Reagan, rolling back federal regulation, seeking fairness from international trading partners, and implicitly trusting consumers, workers and employers – not the government – to expand choices, create jobs, raise incomes, and improve life in America, Trump has unleashed the genius that resides in free markets and free people.

Ronald Reagan did this almost 40 years ago, to good and lasting effect.  Americans are frankly glad when trusted to define their own futures, raise their own families, keep more of their own income, shop without inflation, choosing their own jobs, doctors, insurers, schools, cars, virtues and vices.  In short, freedom is about allowing good people to be free – and celebrating the outcome of that freedom.

All this seems lost on the President’s critics, in and out of government, who see doom, gloom and darkness in economic light.  The nature of economic growth is that it ebbs and flows, often in response to pops and pivots, shivers, shakes, shocks and quakes in the international marketplace. 

But here, in a place called America, we know what we produce, how hard we work, how good we are at what we do, and how much goodness inevitably flows from economic freedom.  Ironically, the political freedom that allows economic freedom also permits the “nattering nabobs of negativism” to fuss and mumble about socialism and society’s ills, filling the airwaves with gripes and grumbling, wishing for the recession that – for the foreseeable future – is nowhere on the horizon.  Ah, the greatness of America!

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Read more articles by Robert B. Charles

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HAL HOFFMAN

“OVER HILL. OVER DALE, WE WILL HIT THE CAMPAIGN TRAIL;
AS THE TRUMP TRAIN GOES ROLLING ALONG!
SCREW THE LEFT LET EM SHOUT WHILE THE COUNTRY TURNS ABOUT!
AS THE TRUMP TRAIN GOES ROLLING ALONG!

FOR IT’S HI HI HEE TO THE LEFT AND PIGLOSI!
CALL OUT YOUR LOSSES LOUD AND STRONG 2-3-4

AND WHERE WE GO, WE WILL ALWAYS KNOW–

THAT THE TRUMP TRAIN IS ROLLING ALONG!
KEEP IT ROLLING!
YES THAT TRUMP TRAIN IS ROLLING ALONG!”

Greg Russell

The economy is great, the country is great, and because we have President Trump in office, the outlook for the nation is great. And by the way, happy 243rd birthday America. Let freedom ring, and may God very richly bless America.

BajaRon

Isn’t it amazing that the left wants America to suffer. Hoping it will make us stupid enough to vote for them to fix it? When, in fact, the left is working as hard as they can to break America.

I, for one, am more than excited about the prospect of 4 more years of MAGA!

Jacob Metzger

A recession sometimes is a self fulling prophecy. if the Socialists keep begging for a recession, enough companies will cut back on hiring and purchasing goods and services. I personally have seen an example of this in my own family. But when you are out to destroy the country as the Socialists are, that we have known for 230 years, and replace it with a BANANA REPUBLIC recessions, then depressions are a good way to do it. And to those who do not think this country is super special, compare the number of people wanting to come into the country, to the number of people who are trying to leave. As has been true for over 200 years, they risk life and everything, to try to come into the country. God Bless America today and always.

Diane

So sad that the left hates America.

drcarol6

We conservative citizens tend to be a pretty quiet group and I am hoping that during this next election, we will surpass the election numbers of 2016, rising up like a tsunami of patriots to preserve our Constitutional values. So much is at stake especially when there are no moderate voices in the Democratic party.

Paul W

The left can’t and won’t find anything positive if it’s related to this president. The economy is chugging along nicely, but they HAVE to get the deficit spending under control. HAPPY INDEPENDENCE DAY to all !!!

Alexander Love

CBS,NBC,CNN,ABC and the N.Y. Dime are owned by the left.
We can’t believe Anything they say.
❤️💙🇺🇸

Rick J.

If the democrats are allowed to grab power, there will be no recession, it will be a great economic collapse.

Todd Taylor

The Socialistic Democrats are complaining about the cost of the Presidents 4th of July celebration which is costing taxpayers 2 million dollars. What about the witch hunt, “Russian coelution” that cost the American tax pay 25 million dollars that led to a dead end? What about Medicare for all? What about the cost of unrestrained borders? What does all this get American taxpayers nothing! We, as united patriotic Americans, have the right to lite a few fireworks, see a military parade with tank and hear from a President who promotes, defends and stands for the Republic. We, as the American taxpayer, need to demand to see from the Socialistic Democrats the price tag on Obamacare, the Green Deal and abortion on demand.

Todd Taylor

It is time to purchase one way ticket to a socialistic country for the liberals media, Socialistic Democrats and actors like Tom Hanks, Robert de Niro, “lady” Gaga and for anyone else who desires to destroy the America we have so come to love, cherish and have fought for the past two hundred plus years.

Skeptic Al

The Nabob’s World Order is being frustrated at every upturn…

Mark Jebe

The economy is so much better than the eight Obama years that I’m suspicious of the numbers. Obama averaged 2.2% GDP growth over two terms and the papers are giving Trump just 3.1% over two years.

But – this economy is so much stronger I can’t believe there’s just a 0.9% difference. Either Obama’s numbers were worse than posted, or Trumps are better.

Someone’s lying.

James Tadin

Great article. Thanks & God Bless America!!

Todd Taylor

The facts speak for themselves. Go Mr. President go!

Stephen Russell

Dems Have Nothing to run on, No issues, no solutions, Unless other event effects Economy then Nothing will go wrong.
Boost GDP to 5% vs 3 OK

john s nunan

“The Greatest” PERIOD……………….

John Chigaras

Happy 4th AMERICA !
I don’t know where he gets his strength and stamina, but keep it up dear President Trump and may God Bless you .

Brenda Blunt

The economy can continue to grow and grow. Them naysayers can leave if they don’t like it!!

Diana Erbio

HAPPY INDEPENDENCE DAY!🇺🇸🇺🇸🇺🇸 Hope you saw my column lFreedom isn’t Free” on the homepage 😊🇺🇸