Unlikable as he is, Trump is good for the economy
I have a confession to make.
As much as I hate to admit it, there is a chance Trump is going to win next year, so I am hedging my bet.
I am dipping my toe again in the stock market.
The economy is booming. No other word to describe it.
Last Friday, the Labor Department announced that the economy added 263,000 jobs and hourly wages grew by two-tenths of a percent in April.
The unemployment rate — 3.6% — is at its lowest level since December 1969.
The Dow Jones Industrial Average index of top stocks continues to be near its record high despite the occasional blip and burp.
The gross domestic product rose by 3.2% in the first quarter, and while some Democratic candidates are saying that income inequality means that most Americans aren’t feeling real benefits from the big numbers, I get the impression that lots of Americans of all political views are quietly admitting that these are good economic times and Trump is at least partly responsible.
In fact, polls indicate that most Americans approve of Trump’s economic machinations while most disapprove of his non-economic programs.
That’s why last week Trump said his upcoming campaign will be based on the spectacular economy.
It makes sense.
I don’t know how much Trump has to do with the booming stock market and the economy. The experts are divided over how much a president has to do with the economy. But I suspect he has some impact on the economy to some degree.
For example, the tax cuts he got through Congress has made the super-rich happy and, in turn, they have hired more people with their millions and raised wages for their minions. And Trump’s elimination of scores of federal regulations on everything from coal to the environment may be destroying America but it’s making rich folks happy, happy, happy.
I get the distinct impression the Democrats are at a loss to know what to do to win the presidential election next year.
If the economy went south, it would help the Democrats. But they don’t want to say or do anything to ruin the good feelings the best economy in decades is engendering among hoi polloi.
The latest polls indicate that more than half like “Trump’s economy” but fewer than half approve of his other programs, foreign or domestic.
But back to bet-hedging. I’m still going to vote for the man or woman who winds up on the ballot opposite Trump, even if it means a cooling of the economy.
Trump not only angers me like no other president in my lifetime, he embarrasses me. America is rapidly becoming the laughingstock of the entire world.
But as long as the economy is booming, for whatever reason, I do not feel greedy for making a little cash off it.
If Trump wins next year, I’ll grit my teeth and make the most of a bad situation and continue to play the game the rich folks play.
And if he loses and a sane adult moves into the White House, I may lose some cash, but I will gain an America I can be proud of.
Dave Peyton is on Facebook. His email address is email@example.com.