For months now the 'progressive' media has been salivating at the mouth as they heralded the 'coming recession'. It was simply not to be, and that reality has them scrambling to concoct a new anti-Trump narrative.
Financial markets are forward looking indicators. The equity markets in the United States have been on a tear since it was obvious pro-business Donald Trump might become president of the United States, the Dow Jones Industrial Average up some 10,000 points.
What markets, and CEOs, hate is uncertainty. The impeachment show trial against POTUS and his attempts to correct unfair trade by China and others has injected significant uncertainty into the American business cycle -- it is pain worth taking. This caused a temporary reduction in business optimism and investment which aided the Left's narrative that recession was imminent. It also caused a short-term inversion of the USD yield curve, another historical harbinger of an economic slowdown.
Now the yield curve is steepening and the economy is growing again.
“The Fed is on hold, the economy is doing well, and trade tensions aren’t increasing. In such a world, a steeper curve follows intuitively,” Ian Lyngen, BMO’s head of U.S. rates, said in a note Wednesday, reported anti-Trump business channel CNBC.
Why is that? The reason is simple -- Donald Trump is not going to be removed from office to allow the socialists to take over the American economy once again. In addition, a 'phase one' trade deal has been signed with China, although admittedly the details are scarce.
What the Left doesn't understand, or doesn't want to admit, is that back-to-back Trump terms in office will bring an avalanche of economic growth to all Americans, no matter their skin color or political affiliation. This is what the 'progressive's are scared of -- loss of the minority vote to the GOP. In other words, blacks and Hispanics leaving the Democrat plantation.
They are petrified of the loss of control, which is what 'progressives' ultimately desire.
After the Senate acquits President Trump in a few days, the Democrats will have shot all their bullets and their attempts to remove a duly-elected president will be shown for what it was -- an illegal coup. Then the indictments will start and POTUS will be re-elected in a landslide.
This is why the market is up 10,000 points. It sees ahead and it sees morning in America.
So too bad CNBC and Bloomberg News (and if you say one more time this is Obama's economy, well, you just look stupid).
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