Companies around the globe are reconsidering their previous business plans and operations that were in direct response to an irresponsibly regulated Obama-era, which hindered U.S. economic growth.
Samsung, Exxon-Mobil, and LG have all made major announcements by investing in U.S. poverty-stricken areas.
And despite the bloviating liberals who decried the U.S. economy and claimed the stock market would crash under a Trump presidency, the economy under the Trump administration thus far has proven he was right and everyone else was wrong.
According to Breitbart:
“The trade deficit will get larger and that means overall, you might save 100 jobs at Carrier, but overall the jobs in manufacturing we lost will get worse,” Nobel prize-winning economist Joseph Stiglitz told CNN Money in January.
“If [Trump] is elected, I would expect a protracted recession to begin within 18 months. The damage would be felt far beyond the United States,” former Treasury Secretary Larry Summers wrote in a June 2016 op-ed in the Financial Times.
Summers was singing the same tune as recently as January. Speaking at the World Economic Forum in Davis, Switzerland, Summers warned that Trump’s policies would strengthen the Mexican peso against the U.S. dollar – and as a consequence cost thousands of U.S. jobs.
“It is a major change in the relative attractiveness of locating production activity in Mexico, versus locating it in the American heartland, and the consequence of that is measured not in the dozens or hundreds, but in the thousands or ten thousands or even hundreds of thousands of jobs,” he said, according to a CNN Money report.
Citigroup’s economists were perhaps even gloomier.
“A Trump victory, in particular, could prolong and perhaps exacerbate policy uncertainty and deliver a shock (though perhaps short-lived) to financial markets,” a team led by Citi Chief Economist Willem Buiter wrote in note reported on By Bloomberg News.
“Tightening financial conditions and further rises in uncertainty could trigger a significant slowdown in U.S., but also global growth.”
Simon Johnson, the prominent Massachusetts Institute of Technology economist, argued that a “big adverse surprise – like the election of Donald Trump in the US – would likely cause the stock market to crash and plunge the world into recession.”
But what actually happened since Donald Trump became President?
The stock market shattered records.
The Dow Jones soared to an all-time high, which not only cracked the 20,000 mark but also even went as staggeringly and unfathomably high as 21,000.
Samsung just announced it will shift manufacturing from cheapened labor in Mexico to the U.S. with an investment of $300 million.
Exxon-Mobil just announced a $20 billion deal in the Golf Coast region of the U.S. that will bring approximately 45,000 jobs.
The numbers in job growth continue to add up despite the liberal economists who were painfully wrong about a Trump administration being a job killer.
And there is one thing all of these “economists” failed to consider, a key thing President Trump would bring to CEOs and owners around the country and the globe…
Moody’s Analytics chief economist remarked to CNBC:
“Confidence is playing a large role. Businesses are anticipating a lot of good stuff – tax cuts, less regulation. They are hiring more aggressively.”
“February proved to be an incredibly strong month for employment with increases we have not seen in years,” Ahu Yildmaz, co-head of ADP Research Institute, said in a statement about the February report.
One of the things that was supposed to make robust job growth nearly impossible under Trump was the already low unemployment rate, which supposedly would make it impossible to produce the kinds of job growth Trump had promised.
As a candidate, however, Trump argued that the unemployment rate was under-estimating the true state of joblessness in the country–and therefore the potential for renewing American job growth.
We only have one month of data thus far – and despite that, liberal economists will continue to project their political affiliation in any way they can by predicting false realities – but it’s amazing that leftists continue to underestimate President Trump.