There's been a lot of negative stories in the news. Have you noticed?
America needs to heal. We have suffered four consecutive body blows in the past six weeks. Hurricane Harvey, Hurricane Irma, Hurricane Maria and now the Vegas mass murder. The media lives by the mantra ďIf it bleeds, it leads.Ē And they have served us nonstop headlines of crisis, death, and destruction.
But amidst all these negative headlines, we missed some remarkable positive economic news. What Vegas and America need now is some great news. The kind of news that makes you smile and pound your fist in the air. And Iíve got it.
At least IF youíre a Trump Fan. The rest of you might want to run and hide now.
Donald Trump has already produced arguably the greatest economic results in American history. You might have missed that in the media. But here are the facts.
First, Trumpís remarkable stock market performance. The DOW has risen almost 25% since Election Day. Thatís an increase of over 4,300 points in about 11 months. Thatís the biggest increase in that period of time in the history of the stock market.
The S&P 500 has passed $20 trillion in value for the first time in history.
President Trump is also the only President in history to oversee two nine-day or longer stock rallies (where new highs are reached each day). Included in that record is the 12-day rally ending on February 28th- matching the all-time record set by President Reagan in 1987.
Since the election of President Trump, the stock market has hit 63 closing highs, with 46 since Trumpís inauguration. On the other hand, Obama had exactly -0- stock market highs in his first four years in office.
In total President Trump has added over $5 trillion to the U.S. economy since his election. Remarkable. Thatís called star power. Thatís real hope and change.
A humble reminder- in previous RJ columns before the election, I predicted Trump would be our Reagan- the greatest economic president of our generation. As Mohammed Ali said, ďIt Ďaint bragging if you can back it up.Ē
But Iím just getting started.
Trumpís GDP. As Iíve always argued, GDP is a far more important economic indicator than the stock market. GDP is hard evidence of how ďmom and popĒ are doing on Main Street. Under Obama, America suffered the eight worst consecutive GDP years in history. Obamaís eight-year GDP average was 1.3%- the exact same GDP number as the period of the Great Depression.
According to the Bureau of Economic Analysis, U.S. GDP has now been adjusted to a remarkable 3.1% growth in the second quarter (Trumpís first full quarter as president). Thatís almost THREE TIMES HIGHER than Obamaís average GDP over his two terms.
That grew our total U.S. GDP to almost $20 trillion- the highest GDP in history.
Trumpís jobs explosion. President Trump added 1.33 million jobs from January through September versus Obamaís record of losing 4.59 million jobs in that same first nine months. Remarkable.
But the latest jobs report just came out on Friday. According to the Bureau of Labor Household Survey, the number of employed Americans increased by an amazing 906,000 for the month of September. But thatís not even the highlight.
Remember that almost every single job created in eight years under Obama was a crappy, low-wage, part-time job. Well under President Trump last month, full-time jobs (the kind we all want and need) increased by 935,000- the most in one month in the 21st century.
It was also one of the four highest increases in American history.
And President Trump is doing it without spending record sums of taxpayer money. Trump added $400 billion (a two percent increase) to the US debt since January. In the same time period, President Obama added $1.3 trillion debt (a 12% increase). Thatís almost $1 trillion more than Trump.
Yes, here in my hometown we are ďVEGAS STRONGĒ in the face of tragedy. But starting spreading the news...