Recent days have brought with them sordid headlines bearing
grim predictions regarding the future health of the American economy. While
there are some reasons to believe that certain American industries are
struggling, however, the overall vibrancy of the U.S. economy can’t be denied,
and recent actions taken by the Trump Administration have gone a long way
towards shoring up our immediate future.
Those who are worried about a recession shouldn’t count the
U.S. economy out just yet. Here’s why we can expect a strong performance
comparative to our economic competitors in the forthcoming weeks.
The heat is mostly
elsewhere
While American media markets are
saturated with predictions about an economic downturn, it’s a simple matter of
fact that the real heat is elsewhere. In China, for instance, the Communist
Party in Beijing is scrambling to deal with the consequences of the ongoing
trade war with the United States which is prospering in areas of leisure and med spa
businesses. Furthermore, President Trump’s recent decision to brand the country
as a currency manipulator has convinced many foreign investors that the United
States finally has strong enough leadership to directly challenge those in
Beijing when they try to upset the economic table.
Similarly, fears of an economic downturn elsewhere, like in
Iran, are much better founded than those here in the United States. As the
president himself recently pointed out, the Iranian economy is
struggling under the burden of countless sanctions that are a direct result of
its lawlessness and inability to arrive at a deal with American negotiators.
Nevertheless, mainstream publications here in the states are obsessing over
minor tumults in the stock market which are set to correct themselves sooner
rather than later.
While much has been made of the inverted yield curve which
has scared some investors, it’s a simple matter of
fact that Americans are more confident in their economy right now than they’ve
been in years, largely thanks to actions taken by President Trump. The president’s
historic effort to cut taxes, for instance, supercharged investment into the
U.S. economy and enabled businesses everywhere to expand without having to
worry about draining their coffers dry. Furthermore, the president’s dedication
to come out unscathed from the current economic dispute with China will put the
U.S. is a better geopolitical and economic position than it’s been since
Beijing went from a backwater to an economic powerhouse.
Americans remain very
confident
Perhaps the best sign that the United States will avoid a
recession in the immediate future is that consumers everywhere are still elated
by the positive progress delivered by the president’s tax cuts. As a matter of
fact, consumer confidence was so high recently that it startled the economists surveyed by the Wall Street Journal, indicating that
number-crunching isn’t always the best way to determine the economic vibrancy
of the United States. For many Americans, the election of Donald Trump was in
and of itself a positive sign of economic progress, as it assured that an
economically-savvy businessman who understands the market would be calling the
shots for the first time in years.
While Democratic candidates for president can’t stop talking
about forthcoming economic downturns, this is because they must discuss an
imaginary future rather than contemporary reality, which is terrible for their
electoral prospects. If progressives were willing to give the president the
credit he deserves when it comes to the economy, for instance, many moderate
voters would flee from their ranks and vote Republican come 2020. As such, the
president’s critics must continue to conjure up wild fantasies about the future
rather than addressing the present.
The U.S. economy would doubtlessly be doing even better,
too, if it wasn’t being held back from achieving further growth by a
recalcitrant Federal Reserve. The president recently made clear that he was
irritated with the Fed and the current strength of the dollar, for instance,
and a lack of a unified American approach to this issue is doubtlessly
inspiring economic competitors in China to maintain current trade tensions.
What American’s competitors don’t realize, however, is that those calling the
shots in the White House aren’t likely to capitulate when the overall U.S.
economy is so healthy.
The president’s
supporters won’t waiver
Many pundits predicting a democratic victory in 2020 claim
that the president’s supporters will tire of this economic conflict and abandon
him in droves. In reality, however, the president’s supporters have
demonstrated an ardent zeal for his policies, many of which were seen as being
long-overdue. His decision to publicly fight back against currency manipulators
and stand up boldly for the United States on the world stage, for instance, was
greeted positively by those who are sick and tired of seeing foreign markets
benefit from American prosperity.
Don’t count the U.S. economy out just yet – with
an economically savvy president at the head of the nation, we can expect robust
growth to continue well into the future.
