Elections Do Have Consequences

In November, the American voters elected Donald Trump as President. I am not sure that the political left has yet recovered from what they would consider their worst nightmare. However, we are where we are. So where are we?

On October 7th, Wayne Allyn Root posted a story at Townhall describing the current state of the American economy.

Here are some highlights from the article:

The DOW has risen almost 25% since Election Day. That’s an increase of over 4,300 points in about 11 months. That’s the biggest increase in that period of time in the history of the stock market.

The S&P 500 has passed $20 trillion in value for the first time in history.

Because most middle-income Americans now have 401k plans because they are smart enough not to rely on Social Security, this is important to the average American.

More highlights:

As I’ve always argued, GDP is a far more important economic indicator than the stock market. GDP is hard evidence of how “mom and pop” are doing on Main Street. Under Obama, America suffered the eight worst consecutive GDP years in history. Obama’s eight-year GDP average was 1.3%- the exact same GDP number as the period of the Great Depression.

According to the Bureau of Economic Analysis, U.S. GDP has now been adjusted to a remarkable 3.1% growth in the second quarter (Trump’s first full quarter as president). That’s almost THREE TIMES HIGHER than Obama’s average GDP over his two terms.

Then there is job growth:

President Trump added 1.33 million jobs from January through September versus Obama’s record of losing 4.59 million jobs in that same first nine months. Remarkable.

But the latest jobs report just came out on Friday. According to the Bureau of Labor Household Survey, the number of employed Americans increased by an amazing 906,000 for the month of September. But that’s not even the highlight.

Remember that almost every single job created in eight years under Obama was a crappy, low-wage, part-time job. Well under President Trump last month, full-time jobs (the kind we all want and need) increased by 935,000- the most in one month in the 21st century. 

You would think that this sort of economic growth would put a damper on ‘Trump derangement syndrome.’ However, it seems to have had exactly the opposite effect. I think that is the result of the fact that the Washington establishment is working very hard to make sure President Trump does not succeed. Why? He is not a globalist, and he is not a Washington insider. His success would be a threat to the Washington establishment’s ability to come to Washington as middle-class Americans and leave twenty or thirty years later as  millionaires. As President Trump begins to accomplish things that have a positive impact on average Americans, expect the Washington establishment in both parties to become louder and more shrill.