President Donald Trump White House adviser Larry Kudlow said Thursday on “Squawk in the Street” that the United States economy is leading the world.
The stock market rebounded Thursday after a 24-hour battle between President Trump and the Federal Reserve, which Trump blames for sparking one-day instability by raising interest rates. Trump strongly disagrees with the Fed’s interest rate hikes — four of which have occurred or are in the process of occurring in 2018.
CNBC reports: “We are the hottest economy in the world right now. We’re crushing it,” Kudlow said. “Europe is slowing down. Asia is slowing down. We are moving rapidly.”
Kudlow noted the U.S. economy expanded by 3.2 percent in the first half and that the Atlanta Federal Reserve is expecting growth of 4 percent for the third quarter.
U.S. stocks are also largely outperforming global equities. The S&P 500 is up 3.8 percent year to date, while the European Stoxx 600 index has dropped 7.1 percent. In Asia, the Shanghai Composite has plummeted more than 21 percent while the Japanese Nikkei 225 is down about 1 percent.
“Right now, the U.S. is carrying the ball. I don’t see an end to it,” Kudlow added. “With all do respect, I don’t think this is anything resembling a sugar high. President Trump has changed the incentives in the economy. The war on business is over.”
Before the start of 2018, President Donald Trump signed a bill that slashed the corporate tax rate to 21 percent from 35 percent. The administration has also rolled back regulations it deems are hurtful to businesses.
Kudlow spoke with CNBC’s “Squawk on the Street” a day after stocks had their worst day since February. The Dow Jones Industrial Average plunged more than 800 points while the S&P 500 dropped more than 3 percent on Wednesday amid a rout in tech shares and worries over higher rates sent.
The rout eased on Thursday.
SUCKERS: Unions That Endorsed Biden for President are Already Having Serious Buyer’s Remorse
What were they thinking endorsing Biden?
Certain unions that endorsed President-imposed Joe Biden prior to his military installation in the White House on Jan. 20 are already having major buyer’s remorse over the Democrat figurehead’s job killing policies.
One of Biden’s policies that has killed jobs is ending the Keystone XL pipeline. This is expected to kill at least 10,000 union jobs, as President Trump’s “America First” agenda is abruptly reversed.
It is estimated that 42,000 union jobs may be eliminated because of Biden’s order.
Biden cancelled the permit for the Keystone XL Pipeline. Just a stroke of the pen for Joe but now 42,000 union jobs are gone, American independence on oil is gone and we are back to depending on foreign nations. Im looking at every Republican “do-gooder” right now.
— Ray Denaro (@RayDenaro) January 21, 2021
The unions are not happy with this immediate betrayal from a Biden administration that had claimed on the campaign trail they were going to build the nation back better.
“In revoking this permit, the Biden Administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1,” Mark McManus, the president of the United Association of Union Plumbers and Pipefitters, said in a statement Thursday.
“Sadly, the Biden Administration has now put thousands of union workers out of work. For the average American family, it means energy costs will go up and communities will no longer see the local investments that come with pipeline construction,” he added.
However, McManus only has himself to blame for these policies with his union backing Biden last year. They sold their country out and now they’re paying the price for their own lack of foresight and patriotism.
We don't sit on the sidelines at the UA. That's why we're endorsing @JoeBiden.
On infrastructure, energy, retirement security, and union rights, Joe will make sure UA members have a seat at the table – and he'll help us win more work with good wages and benefits. pic.twitter.com/Up9VymMrO4
— United Association (@UAPipeTrades) August 17, 2020
Big League Politics reported on Biden’s hostility to the working man on the campaign trail, as he represented foreign interests and the corporate elite with his candidacy:
Today while campaign in a new auto plant in Michigan Joe Biden was met with some criticism concerning his stance on the Second Amendment from one of the local auto union worker.
The unnamed auto worker told the former Vice President and current delegate leader to be the Democrat nominee, “you are actively trying to end our Second Amendment right”, to which Biden responded “You’re full of sh*t”.
After Biden told the union worker that he was “full of sh*t” a female campaign staff member tried to move the former Vice President along, but was met with “no, shhhh, shhh”.
Biden then went on to point his finger in the face of the auto worker telling him that he doesn’t need to own a “AR-14” and that he will slap the auto worker.
The auto worker’s concern over Biden’s Second Amendment policy may be based on Biden’s announcement on March 4th where he said that anti-gun and failed presidential candidate Beto O’Rourke “will be the one who leads” his gun-control effort.
The union bosses took the Democrat blood money and sold their workers out. Union corruption is a big reason why so many American jobs have been sent off shore over the past several decades.
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