Posted on 12/18/2019 11:06:41 AM PST by SeekAndFind
It’s been a very long time since I’ve been so optimistic about what is happening in the economy. The latest optimism index dispels all notions of a looming recession. We are living in an economy with business owners feeling very grateful for significant tax relief, so confident that they are set to move forward with business growth plans, all while creating even more plans to raise compensation.
This sentiment abounds and gets even better when we consider the most recent jobs report, fueling only more excitement into this already strong economy. We witnessed not just great but astonishing numbers, and we can give credit to this pro-business administration. An amazing 266,000 jobs added and the unemployment rate down to a 50-year low are major wins for America and American workers.
The latest optimism index also posted the highest month-over-month gains since May 2018, rising 2.3 points to 104.7 for the month of November. This is exceptional optimism. The reading was bolstered by 7 of the 10 components improving. Owners reported it is a good time to expand, increasing by 6%, and those expecting better business conditions increased 3 points. The NFIB uncertainty index fell 6 points. That may be one of the most important aspects, adding a four-point drop in a revised October number. It’s the lowest since May 2018, and this historical run defies expectations of many, but it is amazing as we continue to see small businesses thrive.
NFIB chief economist William Dunkelberg says this about the optimism: “Owners are aggressively moving forward with their business plans, proving that when they’re given relief from the government, they put their money where their mouth is, and they invest, hire and increase wages.” Owners are most closely focused on issues that directly impact their business, including the real significant tax relief they were given two years ago, and they’re anxious to see this relief made permanent. By the way, 30% of small business owners reported raising compensation, and 26% planned to do so in the upcoming months. This is the highest level since December 1989, and we owe it all to the Trump administration.
Thanks to this administration, we can proceed with a great deal of certainty that President Trump will remain strong in his pursuit of ‘America-first’ policies. As evidence, Fox Business recently boasted this exciting headline: “Dow gains 10,000th point since Trump’s election.” In fact, Fox went on: “The stock market has been unstoppable under the influence of President Trump.”
Maybe this isn’t a question anyone is asking, but I’ll ask it: Are Americans worried about impeachment? The most recent consumer confidence reading could actually lead Americans to spend more money—not less. Frankly, I don’t think most Americans have been spending any time worrying about impeachment—they’ve seen it for what it is.
The American consumer, better than anyone else, has the ability to hang in and be strong and tough during long economic expansion. After the dip of recent months—it didn’t matter; even the dips over the past two years—it didn’t matter.
Many experts were concerned that the U.S. trade war would cause concerns with consumer confidence. But here’s the deal—nobody has their ear to the street better than consumers. These are the people who are actually working for a living every day. They see their wages go up. They have seen opportunities for jobs they haven’t seen in 15 years. They understand what this administration has done.
The University of Michigan consumer sentiment surveys have gotten better and better. As a matter of fact, since 2017, in 30 of the past 35 months, the sentiment number was 95 or higher. We haven’t seen that kind of optimism since the ’90s and President Clinton.
I’ve been saying for a long time that consumer confidence and consumer sentiment are absolutely amazing, and it is exactly what will continue to drive this economy for the rest of this year. And it will take a fairly dramatic change in some of the economic numbers for that to start to turn negative.
Honestly, I think the American public has become totally immune to this whole impeachment clown show. I think they have just thrown up their hands and decided this is simply the non-stop Washington bickering that has no material impact on their lives.
Americans know this is a partisan fraud and outside of the hardcore partisan left, people are just tuning it out and really don’t care.
Agree!
... or do you want to return to the doom and gloom under Obama.
Or one could go way back to the halcyon days of Jimmy Carter
Actually, adjusting for inflation, Obamacare probably did more damage to me and my family (financially) than hyper inflation.
It would be a tough choice which is worse.
“Optimism”
This is not scientific, but I have observed that the Christmas Lights Displays this year (both commercial and private homes) are SPECTACULAR.
It takes money, imagination, optimism, prosperity, creativity, and goodwill to put up such huge, beautiful displays...entire houses and trees outlined in tiny lights, Manger Scenes, shepherds, Magi, Happy Santas, elves, gingerbread houses, snowmen, candy canes, etc, all over town.
Even in liberal Massachusetts, home of Fauxcahontas, people are celebrating Christmas in a lovely way.
I am content to just ride around in the dark and look at the lights. I don’t even have to go to Boston Common, La Sallette, or the Marshfield fairgrounds for the BIG displays. The neighborhood ones are just as nice.
Could it be that SOMEBODY is Making America Great Again?
Advertising superstar Jerry Della Femina once said “the greatest advertising campaign in the world can’t sell a product no one wants.”
And that lesson will echo into the future, for at least another 20 years.
No one is talking about it, and the media treating it like a historical moment just rings so hollow with almost everyone.
Need to have stuff.
Stuff full of stuff.
That’s because only the most TDS person knows this whole thing isn’t going anywhere... its garbage, and know there is ZERO chance that Trump is going to be removed.. and come Jan 2021, The House will be in GOP hands by a huge margin and this crap will be done with.
I'm not sure they will switch. They might stay Dem. But as of today, they could.
Oh they care... But they know it is garbage... and come November, they will be showing these elite idiots exactly how much they care....
Or we could really take back to The New Deal
Mass poverty, ended by WWII
https://en.wikipedia.org/wiki/New_Deal
Agree
My neighborhood is awash in bright, happy Christmas displays
Something is causing that optimism.
And I remember some dark grim Christmases in past years.
Need to have stuff.
Stuff full of stuff.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
And stuff to stuff my stuff into,
and if you don’t like it, stuff it.
I’ ll stuff it were the sun-shines so everyone can see my stuff.
The good news is that there are still independent thinking Americans. That is what has made this great.
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