We’re Number One! We’re Number One! *Open Thread*

October 18, 2018 by

Economically speaking, the United States is on quite the roll these days, and in a big, big, dare I say, HUGE, way.

For the first time in 10 years (hmmm – let’s just think about the first 8 of those years and who was in control), the USA is back in the Number One spot in the most competitive economy. That is no small thing. From Daily Wire:

The United States returned to the top spot as the most competitive country in the world for the first time since 2008 after it made the second highest overall gain from the previous year’s ranking from the World Economic Forum.

The top five countries were the U.S., Singapore, Germany, Switzerland, and Japan — all of which saw their scores increase in 2017, The Wall Street Journal reported.

“Economic recovery is well underway, with the global economy projected to grow almost 4% in 2018 and 2019,” the report stated, adding that “recovery remains vulnerable to a range of risks and potential shocks.”

[…]

“The report scores countries on how closely they match up to the competitive ideal,” The Journal added. “The U.S. scored 85.6 out of a possible 100. America’s vibrant entrepreneurial culture and its dominance in producing a competitive labor market and nimble financial system ‘are among the several factors that contribute to making the U.S.’ innovation ecosystem one of the best in the world.'”

President Donald Trump highlighted some of his economic achievements on Twitter earlier in the day, noting the surge in new manufacturing jobs as well as the number of job openings that are available and the strength of the stock market. […] (Click here to read the rest.)

President Trump is not being hyperbolic about manufacturing. Here in my state of South Carolina, our manufacturers are struggling to find enough people to work, and I mean GOOD companies like Boeing and Mercedes. In fact, Mercedes has teamed up with our local community college to train people to work in their brand new facility. (I might add, their tv ads are really cute. At the bottom of the screen is this: “Guten Tag, Y’all!”)

Manufacturers aren’t the only ones having a hard time finding employees. As you may have heard, our Unemployment numbers are at the lowest level it has been since 1969. Currently, we have about 6.2 million people unemployed in this nation. But get this – we have the jobs for every one of them, and more. From Fox Business:

There are 7.1 million job openings, a record high, according to the JOLTS report through August, as tracked by the Bureau of Labor Statistics.

That’s more than the 6.2 million unemployed Americans who are possibly on the hunt for a new job. Pay is also on the upswing for full-time salary and wage workers. Average weekly earnings rose to $887 in the third quarter, 3.3 percent higher than a year ago, per the BLS.

“We knew the job market was tight. But we didn’t know that we’d break through the 7 million number on job openings,” Mark Hamrick, senior economic analyst at Bankrate.com, tells FOX Business. “All of this suggests that the unemployment rate can continue to edge lower. Wages should make further progress to the upside, despite the frustration that this has been slow and late in arriving.” […] (Click here to read the rest.)

As the article highlighted, these numbers made investors very, very happy, which was reflected in the Stock Market.

Investors aren’t the only ones who are loving this current economic boom. Regular Americans are too as these new poll numbers show. From Townhall:

According to a fresh CNBC poll, Americans’ confidence in the US economy has boomed since Trump took office.  Deregulation and tax relief and reform are working:

[…]

Indeed, the poll found that 48 percent of the public is optimistic about the current economy and optimistic it will get better, the highest level in the poll’s 11-year history and more than double the 20 percent registered in the December 2016 survey. The poll, conducted Oct. 4th through the 7th, shows 83 percent of Republicans are optimistic but also 22 percent of Democrats and 40 percent of Independent voters…Working in the Republicans’ favor is not only record-high optimism about the economy but also about the stock market and near-record high optimism about wage growth. American expect their wages to grow an average of 5.1 percent in the next year, up from 4.7 percent in the June survey and the highest since 2008. A record-high 51 percent of the public say now is a good time to invest in stocks, with a record-low 25 percent saying it’s a bad time.

That’s a big uptick among independents, a majority of whom approve of the president’s economic job performance (Trump’s overall economic approval rating is 51 percent, ten full points higher than his base job approval number).  This data comes on the heels of a recent CBS News poll showing three-quarters of voters describing the nation’s economic conditions as very or somewhat good… […] (Click here to read the rest.)

Yep, people are happy, happy, happy. And as the Townhall article also highlights, wages are also up. That is a very good thing indeed.

Stuart Varney was on Fox and Friends Wednesday morning, and summed up all of the good economic news for the United States.

Varney and the co-hosts also noted how the Media went crazy when the Stock Market took a plunge, wringing their hands, but shocking to no one here, they have been quiet as church mice with all this good news and stock market uptick:

“Booming” the economy is indeed. And Americans are mighty happy about it.

As noted in the video above,, much of this is upswing is the result of Trump’s policies, and his removal of burdensome regulations put in place by his predecessor, Obama.  From Forbes:

First, 8 years of the Obama Administration’s piling on regulation upon regulation, from labor rules, to the Clean Power Plan, to the implementation of ObamaCare, placed industry into a defensive crouch. Business leaders were fearful of investing capital, not knowing how the federal rules might capriciously change, thus wiping out their expected return on investment.

[…]

Second, the Trump Administration’s deregulatory practice exceeded expectations, with red tape being cut at a faster clip than achieved under President Ronald Reagan 36 years earlier.

Third, with the Republican Congress, President Trump delivered on a major overhaul of the tax code, including a significant cut to business taxes as well as a change to the treatment of overseas profits that incentivized the repatriation of some $300 billion in the first quarter of 2018 out of what the Federal Reserve estimates is $1 trillion in multinational profits held abroad. […] (Click here to read the rest.)

These three major factors put to a lie Obama’s claim that the soaring economy is because of him. Not even close there, Obama. This is all the result of Trump’s policies and actions since taking office.

That the United States has returned to the Number One spot is good news indeed, and the economic growth we are seeing benefits us all.

Things are looking up, and thank heavens for that.

This is an Open Thread.

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