Trump Post Covid Has A Better Economy Than Obama's Entire First Term

After all the economic economic agitation, and after the worst exogenous shock since at least 9/11, Trump still has a stronger economy than did Obama at the same place in his first term.

The U3 unemployment rate in October 2012 was 7.8% with people leaving the labor force.  That was four years after the recession Obama inherited. The Covid shut down began in April, six months ago.  The U3 is now 7.9%.  The Dow Jones closed at 28,606.31 last Friday.  Eight years ago the same day close was  13,551.78.  After eight years of Obiden the Dow was only 19,827.25 on the day they left office. Six months after the shut catastrophe, your retirement savings are still 50% greater than they were when Trump took office.

After four years of Obiden socialism, the average weekly hours worked remained flat, hourly earnings had declined .7% and weekly earnings declined 6%. After eight years of Obiden, all three metrics were in months of decline;  weekly hours fell by .6%, average hourly earnings declined .1%, and average weekly earnings had fallen by .5%.  

 

Only six months after the Covid shut down, average hours (+.9%) and hourly earnings (+ 3.3%).  Average household  earnings increased only .1%. Retail sales have been steadily increasing since April's sharp decline.  September 2020 saw retail sales grow by a much faster than expected 1.9%.  That means money is quickly returning to people's pockets.  At the same point in 2012, after four years, the Obiden economy saw a contraction in retail sales. 

Consumer confidence has already returned and is now growing.  Like unemployment, business confidence only fell in one month, April 2020, and has been growing ever since.

There's work to do before the super boom returns. Democrat agitprop aside, the economic circumstances for most Americans remains good and getting better every day.  Like the Covid hysteria, the plan is the Big Lie.  Spread this good news, spread it wide.    

V

 As predicted in April, the United States V recovery is confirmed and continues.  The economy recovered another 1.4 million jobs in August, and the unemployment rate fell to 8.4%.  The Trump economic model has generated 10,611,000 new/recovered jobs since May.

The graph shows an inverted V on employment.  At the current rate the US will return to full employment before the end of the year.

The Economy Is Charging Back-Don't Let The Dems Lie

Trump's economy is indeed remarkable.  After the Covid shutdown, and the Com/Dems doing their best to destroy the economy and public morale heading into the election, the economy just keeps getting stronger.

For the "investor class", which includes something like 55% of all American adults the market recovery is vital. Friday's close at 27,930 is 36% higher than on Election Day, 2016.  Retirement income relies on the equity markets and they are again heading toward historic records in the post Covid economy.

Unemployment is rapidly falling.  Since the shutdown created mass unemployment the next four months has seen rapid job growth and a 4.5% reduction in unemployment.

After the Covid crater in March and April, consumer spending-the backbone of the American consumption driven economy, bounced back 13.8% in May and June.  The increase in consumer spending has reduced inventories for the last three months-a sure sign of economic recovery.  Demand is now steadily ahead of supply so more manufacturing jobs will reopen to meet the demand (yes, Comrade, it always works that way).

This high speed recovery, happening with governors in 20 states trying to kill their state economies, in the same way they were willing to kill their citizens during the initial Covid outbreak, is readily explained by the pre-Covid economic fundamentals. 

The last President that realigned economic fundamentals was Ronald Reagan.  For 28 years President Reagan's successors infused the economy with more risk, greater dependence on low income foreign labor and manufacturing and progressively less stable banking.  The Obama years saw the pursuit of a welfare based economic model, which explains how a guy that inherited a recession, after 8 years, had more business closures than openings, a shrunken labor market with record lows of labor market participation (people in or looking for jobs)  and the highest level of public assistance since, well since the Roman Empire payed citizens to stay home and not work.  

Trump changed how the economy operates, moving economic focus from Wall Street to Main Street.  That, and that alone, explains the rapid recovery from the Covid Crash.  More American workers working in more American businesses, making more American products so that American money stays home creates more American wealth and distributes it more widely than any other economic model.  You are living through that transformation right now.