December 15, 2017

The U.S. Economy Continues to Improve under President Trump.

The Dow Jones Industrial Average has risen by almost 6,000 points since the election of Donald Trump and now it broke the 24,000 mark for the first time.

The Dow Jones soared 332 points on November 30, 2017 as investors felt that the Senate is making progress on a package of tax cuts. The latest market record occurred barely a month after the Dow hit 23,000. The Dow has gained nearly 6,000 points since President Trump’s election on November 8, 2016, increasing 80 daily record highs since his election.

The tax cut plan received critical support on November 30 from Republican Senator John McCain when he said he would vote in favor of the Senate tax cut bill. Investors are optimistic about the strengthening economy and record corporate profits that could be helped by the Republican plan to reduce corporate taxes.

The rapid increase in the stock market is due to improvements in the U.S. economy. One of the most significant successes of President Donald J. Trump, not recognized by the Destroy Trump mainstream media, is how he has improved the economy of the United States. Reuters reported how the economy grew faster than initially thought in the third quarter due to increased business spending on equipment and an accumulation of inventories. The Gross Domestic Product (GDP) expanded at a 3.3 % annual rate in the third quarter (between July and September 2017). The growth of the GDP was an increased from the second quarter’s 3.1%. This represented the fastest economic growth in three years.

The optimism on Wall Street regarding corporate profits is what ultimately drives stock market prices. Earnings have been strong all year and analysts are predicting for next year higher market prices.

Jerome (Jay) Hayden Powell was born on February 4, 1953. He is a member of the Federal Reserve Board of Governors and has served since 2012. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve to replace Janet Yellen when her term ends.

President Trump’s choice to replace Janet Yellen at the Federal Reserve, Jay Powell, has said he will continue the Fed policies. He supported this week raising rates at a gradual pace. Powell also said he believes existing bank regulations are tough enough. Instead, he expressed a desire for “appropriate ways” to ease some rules.

Reuters said that Federal Reserve Chair Janet Yellen told Congress on November 29, 2017 that “the economic expansion is increasingly broad based across sectors” and that she expected that “the economy will continue to expand.” President Trump wants lower taxes to lift annual GDP growth to 3% or higher on a sustained basis.

The unemployment rate is 4.4%, the lowest in 17 years. After the president’s election, and before he assumed office, he persuaded several multinational corporations not to move their factories to Mexico and other countries. The president issued many executive orders eliminating burdensome regulations on businesses. One executive order issued by the president stated that for every new regulation, two had to be eliminated. Tens of thousands jobs were created by the business-friendly President Trump.

Consumer confidence has increased dramatically and the commercial deficit has been reduced as more U.S businesses are exporting more goods. The president has stated that the trade agreements will no longer damage America.

Fake news by ABC News brought the stock market down.

ABC News Brian Ross delivered an inaccurate report on former National Security Director Michael Flynn which brought the stock market down.

On December 1, 2017, ABC News Brian Ross journalist reported incorrectly that former White House National Security Director Michael Flynn, who pleaded guilty to lying to the FBI, would testify that President Donald J. Trump directed him during the campaign to make contact with Russian officials. As a result the Dow Jones plunged by 330 points.

President Donald Trump on December 3 criticized ABC News, and suggested those who lost money in the stock market after the Michael Flynn report should consider suing the network. The network soon issued a “clarification,” stating that President Trump had asked Michael Flynn during the transition “to find ways to repair relations with Russia and other hot spots.” Conservatives and members of the media criticized the network for not calling it a “correction.”

On December 2, announced that Brian Ross was suspended without pay for four weeks, Later, ABC News said that it will not allow reporter Ross to cover stories related to President Trump. After the stock market investors discovered that the report from Brian Ross was fake news, the Dow Jones recovered quickly. On December 4 it increased to 24, 290 points.

Conclusion

Fake news has a negative impact on the stock market. The destroy Trump mainstream media needs to be careful in reporting lies and misinformation on the president and his administration for it will hurt the economy and the national security.

President Donald J. Trump deserved a great deal of credit for improving the economy and creating new jobs. The GDP is increasing over 3% over the last two quarters. Corporate profits have increased along with consumer confidence. The stock market has grown for an unprecedented almost 6,000 points. Oppressive business regulations have been eliminated. Oil and gas production have increased considerably. The president approved the Keystone XL oil pipe as wells as the Dakota oil pipe which will bring Canadian oil to the American refineries in Texas.

In spite of all the economic progress, President Trump is subjected to daily attacks by the corrupt mainstream media, by members of the Deep State embedded in the federal government including intelligence agencies, Democrats in Congress, and hundreds of radical organizations funded by Soros and Obama.

Should Congress pass a tax cut legislation and the president sign it into law, the economy will continue to soar and thousands of new jobs will be created.

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