It’s time to fire the so-called experts.
You know the ones. They’re the liberal economists with overpriced Ivy League degrees who told us that if Donald Trump were to get elected president in 2016, the economy would crash.
Fast-forward to today: More than $17 trillion in value has been added to the global stock market in 2019, with the U.S. reaping the biggest gains, according to a recent analysis by Deutsche Bank. The Dow Jones Industrial Average, the S&P 500 and the Russell 2000 have all seen massive growth in the Trump economy — more than 20 percent this year — with American tech companies leading the pack.
This is a sharp contrast to what a gamut of left-leaning “experts” predicted including The New York Times chief economist Paul Krugman, who told us after Trump won the 2016 election: “So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.”
Huh? Krugman ought to take a bite of this apple: One of the world’s most valuable companies, Apple Inc., saw an 80 percent increase in its stock value in 2019. While Amazon announced a record holiday shopping season. Software giant Microsoft reaped a 55 percent increase this year, while Facebook soared 57 percent in value — just to name a few U.S. companies whose employees and shareholders are enjoying a golden age of prosperity under the current administration.
Same goes for all Americans who are benefitting from historically low unemployment — including minorities and women — and the jobs bonanza, which is lifting millions out of poverty and revitalizing the American dream.
Under the current administration, we’ve seen a rate increase of 3.1 percent for wages year over year. Fox Business reported, “Average hourly earnings are $28.29 with a week of take-home pay averaging $973.18 compared to $943.59 in November 2018.”
That means labor workers and the middle class are benefitting — not just the 1 percent — like Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., falsely claim on the campaign trail.
We’ve also seen the creation of 500,000 manufacturing jobs, new and better trade deals on the horizon with China, and the United States-Mexico-Canada Agreement, the last of which is estimated to create 176,000 jobs and add $68.2 billion to the U.S. economy, according to a study by the U.S. International Trade Commission this year.
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