https://youtu.be/cdxaxJNs15s
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If it works!(See 1 below.)
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Ross Rants again. (See 2 below.)
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Seems like those who berate Trump's tax cut for the rich have been barking up the wrong tree as with most of their unfounded complaints.
Tax cuts along with other stimuli can trickle both down and up because of the change in personal and business psychology.
When government takes their foot off the necks of all citizens people not only feel better, but business reacts to the change in psychology and most often responds. Combine this with rectifying some distorted trade rules and you can get another positive effect.
Trump sees things through the eyes of a practical businessman not through the eyes of an orthodox politician who places re-election above doing what is logical. He may be unorthodox in his manner but he is correct in identifying how to accomplish improvements in our economic goals
Europe languishes from the same policies that have restrained us in the past.
If Trump had the votes to carry out more of his common sense approaches our economy would be doing even better and the deficit would be far less and maybe even heading towards a semblance of balance but he continues to be held hostage to offset payments of Democrat demands for wasteful entitlement vote getting spending.
Add to this the negative impact of the trumped up impeachment fraud and you diminish even further the positive impact of his approach.
And so it goes..(See 3 below.)
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Dick
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1)Laser-Based Missile Interception System Unveiled by Israel
A simulation of the new laser-based interception system. Photo Credit: Defense Ministry Spokesman's Office
Edited by: TJVNews.com
The Directorate of Defense Research and Development (DDR&D), at the Israel Ministry of Defense revealed that a technological breakthrough has been achieved in the development of lasers for the interception of RAM (rocket, mortar, and artillery) threats, UAVs, and ATGMs, according to a report on the Israel National News web site.
Head of the Directorate of Research and Development in the DDR&D, Brig. Gen. Yaniv Rotem stated: “We are entering a new age of energy warfare in the air, land and sea. The R&D investments made by the DDR&D in the last years have placed the State of Israel among the leading countries in the field of high-energy laser systems. Throughout the year 2020 we will conduct a demo of our capabilities.”
“In the future, we would also like to see it airborne on aircraft and even use it as an offensive weapon,” Rotem said.
According to Israel’s Channel 13, the technological development will enable the long-range targeting and stabilization of laser beams, allowing them to intercept targets at great distances, as was reported by Algemeiner.
Ha’Aretz reported that the breakthrough in the Israeli effort came about a year and a half ago, when the Israeli developers created technology to focus and stabilize the laser beams over distances (and overcoming atmospheric disturbances). That led to the development of effective interception technology capable of providing a new layer of defense for Israel on land, at sea and in the air.
The goal is to use the laser-based system against Qassam rockets, such as those that have been fired into Israel from the Gaza Strip, as well as against mortar shells, anti-tank missiles and drones, according to a report on the Ha’aretz web site.
Laser-based interception is silent and invisible, and the cost is less than 10 shekels (about $3.50) per interception, in contrast with Iron Dome, which costs about 170,000 shekels ($49,000) per interception and makes noise on launch.
Today the DDR&D in the Israel Ministry of Defense revealed its investment in laser technology, which has led to the technological breakthrough that will enable the development of platforms to intercept a variety of threats. Based on high-energy lasers, this technology will prompt a strategic change in the defense capabilities of the State of Israel.
As a result of the aforementioned technological breakthrough, the DDR&D has launched three programs for the development of high-energy laser demo systems in cooperation with defense industries, Rafael and Elbit Systems:
· Development of a demo ground-based laser system to complement the capabilities of the Iron Dome (an additional layer to the air defense array)
· Development of a maneuver platform-mounted laser system to defend troops in the field
· Development of a laser demo system mounted on an air platform to intercept threats above cloud covers and for the defense of wide areas
Algemeiner reported that Defense Minister Naftali Bennett commented, “The Israeli brain continues to lead to breakthrough innovations. The laser project will make our defense system more deadly, powerful, and advanced.”
“This is a significant advance in strengthening the security of the State of Israel,” he added. “Alongside the existing weapons of war, we have added a laser sword against our enemies in the north and south.”
The only laser-based military system that has been deployed anywhere in the world is one used on American ships, but it is only effective on relatively easy targets, such as rubber dinghies, and at short ranges, according to the Ha’aretz report.
View Here – This is a game changer if it works. – Stuart
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2)If you had any doubt about the strength of the bull market at this time, just look at how well it responded the day after the Iranian missiles landed harmlessly in Iraq. New record highs. You can also take from this that people talk with their investment cash, and clearly what they said is, we think Trump did the right thing and is handling it very well. If they were buying the Dem left wing line they would be huge sellers as it first appeared in the pre-market down 400, before Trump spoke. If things really remain somewhat quiet in Iraq and the gulf, the market will move higher. Clearly it is impossible to predict the stock market this early in January, especially with Iran and the election, but I believe there is some chance the S&P could hit 3500 by year end, or it could be at 2800. My current bet is on the bull side. Think about it. We came very close to all out war, but markets around the world were pretty stable once Trump spoke, and it became apparent Iran blinked big time. They did their internal propaganda thing, but then called through the Swiss to say we are done. In essence, we give up for now. Sadr has ordered his militia to do nothing as well. Ten year treasuries barely moved. Investors voted, and they said we are good with what Trump has done, and we trust that he will handle things well. Otherwise the market would be tanking. Follow the money not the polls.
Note that oil is back below $60. That is great for the US economy and for low income workers spendable cash. Oil is likely to remain below $60 for now. The Fed has now said the world economy is looking more stabilized. 2020 is now shaping up to be better than all the forecasts. We will see, but my view is that by Q3, GDP could be above 3%, and cap ex could rejuvenate. The Fed will stand pat all year, and the EU economy will likely stabilize unless they act like jerks on Brexit and with the US trade deal. I expect they will fall into to place on trade, or they will be the one area of the industrial world that is left out. If all of these things happen, and if it looks like Trump will be reelected, as I believe, then the S&P will do very well again this year. Lot of ifs, but the pieces look like they are falling into place now. We will know a lot more by mid-February when we see what Iran and their proxies do, or not do, impeachment will be over, China and USMCA will be signed, and the stock market will by then be up 5%. The ten year will probably be back around 2% if all this happens, fixed income securities will be losers. You can sit and watch, or you can bet on the optimistic scenario and potentially make a lot of profit, or maybe it goes wrong and the market tanks. It is reasonable to assume that the stock market will have a setback in the coming weeks or months, just because it has gone up so much. I plan to stay invested and just ride it out waiting for another bull run later in the year. Over the past two years, the naysayers and recession believers who got out of the market lost big opportunities to make a lot of money.
Consumer optimism remains very high. The vast majority of CEO's and almost all CFO's think the market is over-valued, and the economy will slow, and maybe go into recession this year. I disagree. These are the same guys who thought we were headed to recession last year. These guys have access to tons of data from around the world and can get details on almost anything these days. They have sophisticated econ models and economic consultants they pay millions to. My view is they are now not able to see the forest from the trees and are buried in so much data they are unable to see the big picture. I recently witnessed where some super smart financial guys went to a small private meeting and one prominent economist said there would be a recession by Q3. Most nodded in agreement. Nobody wanted to be the odd man out. I kept quiet because I was a guest. I believe the Soleimani killing changed everything, along with the China deal signing, and USMCA. A Pennsylvania congressman put it perfectly- He said his constituents did not like Trump's rhetoric, but they were enjoying the best time in their life thanks to Trump so they will vote for him.
I think few people realize how dramatically geopolitics changed last week, and the ramifications of that. Not that I think Iran will suddenly become cooperative, or that the Muslims will suddenly stop terrorism, or that there will not be any bad things happen, but that single event is as triggering as the assassination that started WWI, except in the opposite direction. The world now fears Trump, and that is very good for world peace. Nobody wants to really piss him off and kill an American. They know they cannot push us around any longer. Fear is a wonderful motivator. It will still be at least a year or more before there is any deal with Iran, if ever. They know now that he will destroy their country, and their regime if they push him and attack Americans. That is the polar opposite of Obama and Biden. Biden would be a disaster for the world, and would return to a policy of appeasement. The bad guys are going to go all out to stop Trump from being reelected.
Housing is going to drive the economy higher this year. There is a huge shortage of housing, and the demand combined with ultra- low mortgage rates below 4% will drive housing construction and the economy.
If you missed the Carlos Ghosn interview with Maria, and his press conference, he revealed a big secret. Japan has a Medieval justice system where the conviction rate is 99.4%. They mentally torture people with methods that would get American prosecutors put into jail. Nobody knew. It presents Japan a very embarrassing situation now, and gives companies second thoughts about joint ventures and other investments in Japan. Abe seems to have realized he now has a major problem, and he suggested that the Ghosn case was a Nissan board issue, not a public justice case, and all the problems it is now creating. We will now hear much more about this.
Trump might pull off one the greatest foreign policy successes in world history. Impossible to know for a long time, but everything changed in the past two weeks. Iran is not about to suddenly change their religious ideology, hatred for the US and Israel, and do an acceptable deal with the US. However, they now know they can be destroyed if they do anything much more, and their economy is going to get crushed, especially if the EU imposes its own sanctions which they committed in JCPOA to do if Iran stopped complying. We will now see if the EU is going to try to continue appeasement, or will stand with America. Johnson possibly will once Brexit is in place. The moment of truth has arrived for them. The shoot down of the plane may have pushed the EU to realize they need to act. Soleimani is irreplaceable. You rarely replace a ruthless leader like him with the brains to pull off what he has done, which was to change the world over 20 years. He built the proxy armies, he engineered the takeover of Lebanon, almost the takeover of Iraq and Syria and Yemen. He created the situation that led to Obama Biden handing over $150 billion to fund his terror network and military buildup. Pretty incredible feat, and not anyone else can do that. He was the true evil genius, with a state and $150 billion US Obama Biden dollars behind him. A few years ago, John Kerry even admitted publicly that some of the money would probably go to terror groups. Focus on that statement from the secretary of state. US money would be used to fund terror. A press spokesman for Obama said the same at a White House press conference at the time. And the Dems want to attack Trump!!! And Biden defends the JCPOA. More importantly, Soleimani had conned Obama Biden providing not only the funding, but the naïve and stupid belief that Iran would act nice no matter how many dead bodies were strewn across the world.
A top Dem, Tom Kaine, went on TV and said it was wrong to kill Soleimani when he was in Iraq which is a foreign country. So it was OK to kill Bin Laden in Pakistan, and dozens of Taliban in Pakistan with drones, with no Congressional approval, but killing the world's worst terrorist in Iraq is wrong! Since WWII presidents have waged war across the world with no Congressional war declaration. He went on to call Soleimani an "official" of Iran, and so that made him immune from elimination no matter how many Americans he killed. You can't make up this hypocrisy and idiocy. The Dems have gone back to the McGovern policy of never use military power. This is not only extremely dangerous re the bad guys in the world, but it defies history. Are they really this stupid and uneducated about the world for the last 2000 years? I think they are, and it is not just bad politics.
What is most infuriating is the Dem response to criticize the killing of Soleimani, one of the worst evil men in history. As I said before, this is equal to if we had killed Hitler in 1938 instead of the Chamberlain appeasement. They now run around saying we should not have killed this horrendous killer of hundreds of Americans and tens of thousands of others. The guy tried to set up an assassination in a DC restaurant of the Saudi ambassador. He just attacked the embassy. Did they want another Benghazi which Obama and Biden lied about for two weeks. They would have let this murderer live despite the plans to kill more Americans in an effort to drive us out of Iraq. I guess they really are as stupid as I thought. Now we have the Dems all going in front of the press saying it was all a huge mistake by Trump, he is deranged, he is starting a war, he is dangerous. In fact, Iran and its proxies stood down for now, in the face of their realization Trump will really attack them. Obama was the dangerous one. He signed the incredibly dumb JCPOA, and handed over $150 billion up front in exchange for nothing. Trump changed the entire discussion from, here let me pay for your terror network and weapons, and it is OK to build new missiles, and in ten years ( now down to three years) you can have nukes. It is hard to imagine such stupidity. And Biden wants to put that back in place!!! Just listen to the Dem candidates and ask yourself, do I want these idiots as president against the mullahs, Kim, Xi and Putin? I find the Dems and press to be so irresponsible right now that it is actually extremely upsetting, and I do not get upset by much of anything these days. The Iranians and others must read what the Dems say, and the anti-war resolution, and impeachment, and they must wonder what sort of country is it that does not get behind a president who just saved the world and America from more death and destruction. I am sure this will just really encourage the Russians, Chinese, Iran and N Korea to go all out to try to help defeat Trump.
Trump clearly shocked the Iranians, and upset all of their strategies and plans. Our ability to know the missile attack was coming, before it did, sent another message- we know what you are doing before you do it, so don't think you can surprise us anymore. It is important to note that Iran notified Iraq before they fired, and they knew we would get notified. Plus they targeted an area where damage was minimal. They were clearly afraid what Trump would do if anyone had been wounded. Killing Soleimani was not just good because of who he was, but it sent the message to the world, Don't F with me, or you will die. Just recall what I said about how Trump had to deal with the mob in NYC in his developer days. Play nice or die. I do believe he learned that philosophy, and has brought it to the foreign policy world. Liberals will find that statement frightening, but Trump proved the basic tenet of foreign policy- peace through real strength, and the will to use it. Weak leaders throughout history have ended up dead, or essentially controlled by the tough guy, or having their country occupied. Obama ended up with the blood of thousands on his hands by funding the Iranian terror for all these years. Most men react to greed and fear, and sex. Trump instilled real fear by killing Soleimani. He showed he is capable of the unthinkable, and will do it if you cross the line, and, most importantly, nobody is safe. That, and the rebuilt US military and CIA, backed by energy independence, and a strong economy, makes him very scary to the bad guys. What I said when he was elected- he is a really bad guy, but we needed our own really bad guy to deal with the bad guys in the world. His trade war with China, also sends the message that he will take on anyone, and is willing to suffer economic pain and pressure for a long time to win. No politician would ever do such a thing, which again, is why China got away with trying to take over the world for 30 years. We now have a once in decades opportunity to truly change the world and the Mideast, and to stop Chinese attempts to control the world. What do the Dems do, pass a useless resolution saying Trump needs to be restrained just as he really needs is the full Congress to fully back him against Iran and Kim. Trump made Iran and China back down, and the Dems and press condemn him, and say he should have let Soleimani live to carry on killing. This is the height of irresponsibility. And Congress thinks he needs to consult with them??? Even now that Iran has backed down, the Dems still want to condemn Trump for making that happen. This now has the potential to become one of the great moments in world history. Trump has really ramped up pressure and will attack again if they do anything. The sanctions need to be upped to a level that is crushing, and the EU needs to now join in- although I doubt they will. One more reason Johnson needs to get out of the EU so he can become part of the alliance with us.
This past week was the ultimate black swan event. Do not confuse my tirade as a pro-Trump political message. I simply try to put events in the context of history, and view the reality of human nature and geopolitics over centuries. It is an attempt to see the forest, and not get lost in the trees. The world has always had really bad guys and women running major countries, or monarchies, and they have run rampant across the world killing and occupying others. In the end it always requires a guy with real balls to stop them. Katherine the Great, Churchill, George Washington, George Patton. Trump just happens to be that guy right now, and whatever other major flaws he has are unimportant in the greater picture. If America and the world are not safe from attack by terrorists, and if we let China gain preeminence, then we are finished as a nation, and the world will again be back into one of its very dark periods. The US is the only nation capable of controlling events, and stopping the spread of Muslim terror and Chinese domination. It is now or never, and Trump luckily is the one in a position to act boldly.
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2)If you had any doubt about the strength of the bull market at this time, just look at how well it responded the day after the Iranian missiles landed harmlessly in Iraq. New record highs. You can also take from this that people talk with their investment cash, and clearly what they said is, we think Trump did the right thing and is handling it very well. If they were buying the Dem left wing line they would be huge sellers as it first appeared in the pre-market down 400, before Trump spoke. If things really remain somewhat quiet in Iraq and the gulf, the market will move higher. Clearly it is impossible to predict the stock market this early in January, especially with Iran and the election, but I believe there is some chance the S&P could hit 3500 by year end, or it could be at 2800. My current bet is on the bull side. Think about it. We came very close to all out war, but markets around the world were pretty stable once Trump spoke, and it became apparent Iran blinked big time. They did their internal propaganda thing, but then called through the Swiss to say we are done. In essence, we give up for now. Sadr has ordered his militia to do nothing as well. Ten year treasuries barely moved. Investors voted, and they said we are good with what Trump has done, and we trust that he will handle things well. Otherwise the market would be tanking. Follow the money not the polls.
Note that oil is back below $60. That is great for the US economy and for low income workers spendable cash. Oil is likely to remain below $60 for now. The Fed has now said the world economy is looking more stabilized. 2020 is now shaping up to be better than all the forecasts. We will see, but my view is that by Q3, GDP could be above 3%, and cap ex could rejuvenate. The Fed will stand pat all year, and the EU economy will likely stabilize unless they act like jerks on Brexit and with the US trade deal. I expect they will fall into to place on trade, or they will be the one area of the industrial world that is left out. If all of these things happen, and if it looks like Trump will be reelected, as I believe, then the S&P will do very well again this year. Lot of ifs, but the pieces look like they are falling into place now. We will know a lot more by mid-February when we see what Iran and their proxies do, or not do, impeachment will be over, China and USMCA will be signed, and the stock market will by then be up 5%. The ten year will probably be back around 2% if all this happens, fixed income securities will be losers. You can sit and watch, or you can bet on the optimistic scenario and potentially make a lot of profit, or maybe it goes wrong and the market tanks. It is reasonable to assume that the stock market will have a setback in the coming weeks or months, just because it has gone up so much. I plan to stay invested and just ride it out waiting for another bull run later in the year. Over the past two years, the naysayers and recession believers who got out of the market lost big opportunities to make a lot of money.
Consumer optimism remains very high. The vast majority of CEO's and almost all CFO's think the market is over-valued, and the economy will slow, and maybe go into recession this year. I disagree. These are the same guys who thought we were headed to recession last year. These guys have access to tons of data from around the world and can get details on almost anything these days. They have sophisticated econ models and economic consultants they pay millions to. My view is they are now not able to see the forest from the trees and are buried in so much data they are unable to see the big picture. I recently witnessed where some super smart financial guys went to a small private meeting and one prominent economist said there would be a recession by Q3. Most nodded in agreement. Nobody wanted to be the odd man out. I kept quiet because I was a guest. I believe the Soleimani killing changed everything, along with the China deal signing, and USMCA. A Pennsylvania congressman put it perfectly- He said his constituents did not like Trump's rhetoric, but they were enjoying the best time in their life thanks to Trump so they will vote for him.
I think few people realize how dramatically geopolitics changed last week, and the ramifications of that. Not that I think Iran will suddenly become cooperative, or that the Muslims will suddenly stop terrorism, or that there will not be any bad things happen, but that single event is as triggering as the assassination that started WWI, except in the opposite direction. The world now fears Trump, and that is very good for world peace. Nobody wants to really piss him off and kill an American. They know they cannot push us around any longer. Fear is a wonderful motivator. It will still be at least a year or more before there is any deal with Iran, if ever. They know now that he will destroy their country, and their regime if they push him and attack Americans. That is the polar opposite of Obama and Biden. Biden would be a disaster for the world, and would return to a policy of appeasement. The bad guys are going to go all out to stop Trump from being reelected.
Housing is going to drive the economy higher this year. There is a huge shortage of housing, and the demand combined with ultra- low mortgage rates below 4% will drive housing construction and the economy.
If you missed the Carlos Ghosn interview with Maria, and his press conference, he revealed a big secret. Japan has a Medieval justice system where the conviction rate is 99.4%. They mentally torture people with methods that would get American prosecutors put into jail. Nobody knew. It presents Japan a very embarrassing situation now, and gives companies second thoughts about joint ventures and other investments in Japan. Abe seems to have realized he now has a major problem, and he suggested that the Ghosn case was a Nissan board issue, not a public justice case, and all the problems it is now creating. We will now hear much more about this.
Trump might pull off one the greatest foreign policy successes in world history. Impossible to know for a long time, but everything changed in the past two weeks. Iran is not about to suddenly change their religious ideology, hatred for the US and Israel, and do an acceptable deal with the US. However, they now know they can be destroyed if they do anything much more, and their economy is going to get crushed, especially if the EU imposes its own sanctions which they committed in JCPOA to do if Iran stopped complying. We will now see if the EU is going to try to continue appeasement, or will stand with America. Johnson possibly will once Brexit is in place. The moment of truth has arrived for them. The shoot down of the plane may have pushed the EU to realize they need to act. Soleimani is irreplaceable. You rarely replace a ruthless leader like him with the brains to pull off what he has done, which was to change the world over 20 years. He built the proxy armies, he engineered the takeover of Lebanon, almost the takeover of Iraq and Syria and Yemen. He created the situation that led to Obama Biden handing over $150 billion to fund his terror network and military buildup. Pretty incredible feat, and not anyone else can do that. He was the true evil genius, with a state and $150 billion US Obama Biden dollars behind him. A few years ago, John Kerry even admitted publicly that some of the money would probably go to terror groups. Focus on that statement from the secretary of state. US money would be used to fund terror. A press spokesman for Obama said the same at a White House press conference at the time. And the Dems want to attack Trump!!! And Biden defends the JCPOA. More importantly, Soleimani had conned Obama Biden providing not only the funding, but the naïve and stupid belief that Iran would act nice no matter how many dead bodies were strewn across the world.
A top Dem, Tom Kaine, went on TV and said it was wrong to kill Soleimani when he was in Iraq which is a foreign country. So it was OK to kill Bin Laden in Pakistan, and dozens of Taliban in Pakistan with drones, with no Congressional approval, but killing the world's worst terrorist in Iraq is wrong! Since WWII presidents have waged war across the world with no Congressional war declaration. He went on to call Soleimani an "official" of Iran, and so that made him immune from elimination no matter how many Americans he killed. You can't make up this hypocrisy and idiocy. The Dems have gone back to the McGovern policy of never use military power. This is not only extremely dangerous re the bad guys in the world, but it defies history. Are they really this stupid and uneducated about the world for the last 2000 years? I think they are, and it is not just bad politics.
What is most infuriating is the Dem response to criticize the killing of Soleimani, one of the worst evil men in history. As I said before, this is equal to if we had killed Hitler in 1938 instead of the Chamberlain appeasement. They now run around saying we should not have killed this horrendous killer of hundreds of Americans and tens of thousands of others. The guy tried to set up an assassination in a DC restaurant of the Saudi ambassador. He just attacked the embassy. Did they want another Benghazi which Obama and Biden lied about for two weeks. They would have let this murderer live despite the plans to kill more Americans in an effort to drive us out of Iraq. I guess they really are as stupid as I thought. Now we have the Dems all going in front of the press saying it was all a huge mistake by Trump, he is deranged, he is starting a war, he is dangerous. In fact, Iran and its proxies stood down for now, in the face of their realization Trump will really attack them. Obama was the dangerous one. He signed the incredibly dumb JCPOA, and handed over $150 billion up front in exchange for nothing. Trump changed the entire discussion from, here let me pay for your terror network and weapons, and it is OK to build new missiles, and in ten years ( now down to three years) you can have nukes. It is hard to imagine such stupidity. And Biden wants to put that back in place!!! Just listen to the Dem candidates and ask yourself, do I want these idiots as president against the mullahs, Kim, Xi and Putin? I find the Dems and press to be so irresponsible right now that it is actually extremely upsetting, and I do not get upset by much of anything these days. The Iranians and others must read what the Dems say, and the anti-war resolution, and impeachment, and they must wonder what sort of country is it that does not get behind a president who just saved the world and America from more death and destruction. I am sure this will just really encourage the Russians, Chinese, Iran and N Korea to go all out to try to help defeat Trump.
Trump clearly shocked the Iranians, and upset all of their strategies and plans. Our ability to know the missile attack was coming, before it did, sent another message- we know what you are doing before you do it, so don't think you can surprise us anymore. It is important to note that Iran notified Iraq before they fired, and they knew we would get notified. Plus they targeted an area where damage was minimal. They were clearly afraid what Trump would do if anyone had been wounded. Killing Soleimani was not just good because of who he was, but it sent the message to the world, Don't F with me, or you will die. Just recall what I said about how Trump had to deal with the mob in NYC in his developer days. Play nice or die. I do believe he learned that philosophy, and has brought it to the foreign policy world. Liberals will find that statement frightening, but Trump proved the basic tenet of foreign policy- peace through real strength, and the will to use it. Weak leaders throughout history have ended up dead, or essentially controlled by the tough guy, or having their country occupied. Obama ended up with the blood of thousands on his hands by funding the Iranian terror for all these years. Most men react to greed and fear, and sex. Trump instilled real fear by killing Soleimani. He showed he is capable of the unthinkable, and will do it if you cross the line, and, most importantly, nobody is safe. That, and the rebuilt US military and CIA, backed by energy independence, and a strong economy, makes him very scary to the bad guys. What I said when he was elected- he is a really bad guy, but we needed our own really bad guy to deal with the bad guys in the world. His trade war with China, also sends the message that he will take on anyone, and is willing to suffer economic pain and pressure for a long time to win. No politician would ever do such a thing, which again, is why China got away with trying to take over the world for 30 years. We now have a once in decades opportunity to truly change the world and the Mideast, and to stop Chinese attempts to control the world. What do the Dems do, pass a useless resolution saying Trump needs to be restrained just as he really needs is the full Congress to fully back him against Iran and Kim. Trump made Iran and China back down, and the Dems and press condemn him, and say he should have let Soleimani live to carry on killing. This is the height of irresponsibility. And Congress thinks he needs to consult with them??? Even now that Iran has backed down, the Dems still want to condemn Trump for making that happen. This now has the potential to become one of the great moments in world history. Trump has really ramped up pressure and will attack again if they do anything. The sanctions need to be upped to a level that is crushing, and the EU needs to now join in- although I doubt they will. One more reason Johnson needs to get out of the EU so he can become part of the alliance with us.
This past week was the ultimate black swan event. Do not confuse my tirade as a pro-Trump political message. I simply try to put events in the context of history, and view the reality of human nature and geopolitics over centuries. It is an attempt to see the forest, and not get lost in the trees. The world has always had really bad guys and women running major countries, or monarchies, and they have run rampant across the world killing and occupying others. In the end it always requires a guy with real balls to stop them. Katherine the Great, Churchill, George Washington, George Patton. Trump just happens to be that guy right now, and whatever other major flaws he has are unimportant in the greater picture. If America and the world are not safe from attack by terrorists, and if we let China gain preeminence, then we are finished as a nation, and the world will again be back into one of its very dark periods. The US is the only nation capable of controlling events, and stopping the spread of Muslim terror and Chinese domination. It is now or never, and Trump luckily is the one in a position to act boldly.
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3)
The Economy’s Inequality Dividend
Growth is lifting low-income workers and the middle class.
The Editorial Board
The December employment report on Friday was a modest disappointment with fewer new jobs and slowing wage gains. But the report is an exception to other strong recent labor data, and the big picture is that the longest hiring expansion in 80 years is lifting lower-income workers in particular as accumulating evidence shows.
The jobless rate remained steady at 3.5% as labor participation held at its recent high of 63.2%. The 145,000 new jobs are fewer than the 184,000 average monthly gains over the last three months and the 165,000 average over the past year. Most of the slowdown appears to be trade-related and reflects lower business investment.
Wage growth for production-level workers slowed with average hourly wages up 3% over the last year compared to 3.4% in November. Some of this may be monthly statistical noise, and the trend in the last two years has been higher wage growth among lower earners. That’s a contrast to the early years of this expansion when real wages were flat.
The Federal Reserve’s interventions inflated asset values, which helped the affluent but did little for low- and middle-income Americans who don’t own stocks. Enter Donald Trump, whose deregulation and tax reform unleashed a surge of business investment (before his tariff spree) and hiring, which has drawn workers off the sidelines and raised wages.
The comparative data are striking, and mostly ignored by the press. During the first 11 quarters of the Trump Presidency, wages for the bottom 10% of earners over age 25 rose an average 5.9% annually compared to 2.4% during Barack Obama’s second term, according to the latest demographic data from the Bureau of Labor Statistics. Wages for the middle two quartiles increased 3.2% compared to 2.2% and 2.7% between 2012 and 2016. Wage gains for the top 10% have held steady at about 3%.
Less educated workers have also seen the strongest gains. Wages have risen at a 6.1% annual clip for workers over 25 without a high school degree and 3.9% for those with some college—both about three times faster than during the second Obama term. Wage gains have also accelerated though to a lesser degree—to 3.2% from 2.2%—for college grads.
Irony alert: Socialism-loving young people are getting the biggest pay raises. Wages have increased on average 5.8% annually for teens, 4.4% for 20 to 24-year-olds and 4.8% for 25 to 34-year-olds during the Trump Presidency. Maybe as their incomes rise, more millennials will question the tale of woe and revolution that Bernie Sanders is selling them.
As for inequality, the Gini coefficient that measures the income gap has been declining among folks who earn a paycheck. Rising wages have lifted millions of Americans out of poverty and off the government dole. The poverty rate for blacks (20.8%) and Hispanics (17.6%) is the lowest on record.
Forty million fewer people last year lived in households receiving government assistance than in 2016, and the food-stamp rolls have shrunk by 9.5 million over the past three years. Reduced government dependence is a social good far beyond the lower costs to taxpayers. More important are the benefits in self-sufficiency and the contributions to the community that flow from that.
Democrats on the campaign trail say the middle class is vanishing, but the opposite is true as more Americans escape poverty and others join the ranks of the affluent. Between 2016 and 2018 the number of taxpayers earning less than $25,000 declined 5% while increasing 8% for those making between $100,000 to $200,000 and 13.9% for those making more than $200,000, according to IRS data.
And it’s not only folks along the coasts who are doing better. The number of people making more than $200,000 increased by 9.6% in Iowa and 17.6% in Michigan between 2016 and 2018. The median two-earner household in the U.S. last year made about $101,000, which after inflation is nearly $10,000 more than a decade ago.
Pete Buttigieg claimed during the December debate that wages aren’t keeping up with the cost-of-living. Perhaps he’s spent too much time raising money in California’s Bay Area. In most other areas of the country, wage gains are outpacing the living costs including housing. Average weekly earnings in South Bend, Ind., have grown 9.9% over the last year as employers have increased both hours and pay.
These are the happy wages of a growing economy, and a labor market that has tightened in the long expansion that received a second wind from the Trump-Paul Ryan pro-growth policies of 2017-2018. By stressing growth, they have done more to reduce inequality than did the Obama-Nancy Pelosi policies that stressed inequality at the expense of growth.
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