Finance

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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Mark Helms
2 years ago

You guys don’t have a clue what’s really happening with the economy or why.

Dan T
2 years ago

There are many in our government that need to be “impeached (thrown out of office)!!
However President Trump is NOT one of them.
IF I were a democrat……I would be ashamed of myself for supporting such idiot officials and legal proposals.

Denise
2 years ago

President Trump is the best President America has had in years. Obama was worse President we ever had. He was out to destroy our nation. We need President Trump for 10 more year so he can straighten out the mess Obama made and make America great again!

michael failla
2 years ago

It is possible to talk yourself into a recession. Only if you listen to the “nattering nabobs of negitavism”. Mostly i ignore them as they just make me crazy and i dont need crazy in my life. No one does! ( always liked that phrase from spiro agnew).
HAPPY BIRTHDAY AMERICA! WE LOVE YOU!

Papajoe
2 years ago

Super all-compassing article. The 4th of July celebration cost complainers comment (BTW a very patriotic speech with ZERO Trump 2020 campaigning as anti-Trumpers claimed would occur), NONE of the Demon Socialists, TDS (Trump Deranged Syndrome) sufferers, leftists, so-called progressives (NOT, actually regressives!) mentioned President Trump’s $400,000/year presidential salary donation BACK to the taxpayers in a bottomline offset cost effect for the celebration cost!

Alene Math
2 years ago

My God I hope the economy can keep screaming along. If so and if American’s don’t buy lemming-like the constant lies spouted by the corporate media and the always trying to deflect attention from REAL crimes committed during and shortly after the Obama administration ultra leftist Democrat political operatives, in November of 2020 real Americans can be swept into office and start work to repair this countries broken moral backbone and return this country to civility and logical thought so we can all work together to improve further this incredibly wonderful country.

Todd Taylor
2 years ago

With all the criticism from the Democratic liberal left about the cost of the 4th of July parade I wonder if it has been mentioned that Donald Trump Does not take a pay check for being President? I believe his compensation is given to charity.

Keith H
2 years ago

Thank You President Donald J Trump !! Happy 4th of July. May God Bless You and Keep You, Amen.

Wayne D Peterkin
2 years ago

I have never believed in the constant economic roller coaster of booms followed by recessions. While I also do not believe the government directly controls the economy, that same government by its policies unquestionably influences the economy. For example, government policies created “bubbles” such as the Dot.com bubble in the late 1990s and the housing bubble that burst causing the financial meltdown in 2007/2008 and sank us into a recession. Too high interest rates cause economic slowdowns while too much government spending can help spark inflation, each of which affect economic growth. But by the same token, sensible government policy like reduced tax rates, modest interest rates, and minimal regulation can fuel economic growth, and President Trump has proven that once again. There was no magic involved, just common sense from a businessman. Elect a Democrat next year and watch what happens to the economy. Repeal the tax reduction (or let parts of it expire) and it will have a detrimental affect as well. Trillions in new government giveaways would be disastrous. But sensible and consistent policy from both the government and the Fed should sustain reasonable economic growth without recessions. The one caveat is international influences like wars.

Drue
2 years ago

We are living in a remarkable time. The left is trying with all its might to destroy our way of life and lead our country down the primrose path to socialism. The rest of us are fighting this challenge behind our President, Donald Trump. Everything President Trump had done has been maligned by the media and the left. The latest attack has been against our July 4th parade. “A waste of money” they say. We own the tanks, and the military men and women who are participating are being paid, and so what that it costs 1 or 2 million? A drop in the budget bucket compared what we are pissing away, taking care of all the illegals at our southern border. I am proud of our military might and it protects this nation. Why not show the world that we are a proud Nation? President Trump is our leader. As the saying goes: Lead, follow or get out of the way!

TheOLDWarhorse
2 years ago

It truly is sad that a major political party I as hoping and praying (oops, they don’t pray) for our country to fail so they can blame it on Trump and the Republicans and regain control of the government.

John Chigaras
2 years ago

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 .

P J boes
2 years ago
Reply to  John Chigaras

Amen,John

Peter B.
2 years ago
Reply to  John Chigaras

Pray for him and his team. We must pray mightily and follow with actions big and small. Be courteous in the face of evil, but strong on truth. Truth is what the left fears most.

Todd Taylor
2 years ago

Since CBS, NBC, CNN, ABC lack a sense of patriotism perhaps they are not permitted to report tonight’s 4th of July Event in Washington. It is time to only invite to the public arena the media that supports American cherished ideals. The liberal media needs to be excluded from the public arena; they need to be delegitimized sense they are only interested in reporting opinions not facts. I am tired that the liberal media continues to spew socialistic garbage on the American people by the perpetuation the liberal narrative.

des
2 years ago

everything is great, libs brains are in recession, just can’t stand it they thrive on destroying economies for power with everything continuing to improve they just can’t stand lossing so much control of everyone’s lives especially minorities
HAPPY BIRTHDAY AMERICA may freedom ring

Todd Taylor
2 years ago

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.

Peter B.
2 years ago
Reply to  Todd Taylor

The words Democratic Socialist and Socialist Democrats are defusing words so that the standard head-in-the-sand American Sheeple will not rise up. It would take just one bad election to remove the word “Democrat” from that pairing. You will never hear a democrat use the words to describe America: Republic or Democratic Republic. When Ben Franklin was asked, “what to we have, Ben?” He replied, ” A Republic–if you can hang onto it.” They have been pushing collectivism in our schools for years, wake up and ‘Teach you children.’

Todd Taylor
2 years ago
Reply to  Peter B.

Socialist anything is dangerous; this political ideal must be left on the ash heap of history.

Todd Taylor
2 years ago
Reply to  Peter B.

My children have been taught well with Christ and the Bible as their anchor.

Papajoe
2 years ago
Reply to  Todd Taylor

Great all-compassing comment. To the $2 million 4th of July celebration complainers comment (BTW a very patriotic speech with ZERO Trump 2020 campaigning as anti-Trumpers, anti- Americans claimed would occur), NONE of the Demon Socialists, TDS (Trump Deranged Syndrome), leftists, , so-called progressives (NOT, actually regressives!) mentioned President Trump’s $400,000/year presidential salary donation back to the taxpayers to offset the celebration cost!

Todd Taylor
2 years ago

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.

Todd Taylor
2 years ago

American is the greatest Nation in the world and I am proud to be apart of this Republic. Long live the Republic!

Todd Taylor
2 years ago

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

Morbious
2 years ago

Just as the commies know they unseated nixon and lust for a reprise, they know they played a big part in preventing the reelection of ghwb, by exactly the current strategy: rounding up lazy losers, thrusting a mic in their face and inviting them to whine. They created the recession of 1992, such as it was, and convinced a percentage of voters that we were in tough times that could be blamed on bush. Of course, there were other factors; bushes tax lie and perot, but the media was able to create a reverse potemkin village, images of which were portrayed endlessly. The result was clinton. My business took a nose dive in 93, as the buying public held back in anticipation of commie policies. Will it work now? Dont think so, as the concept of fake news has percolated into the mass pysche and scepticism of broadcast propaganda is at a high.

Brenda Blunt
2 years ago

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

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