Chill, dudes. A Trump triumph isn’t terrible
The Donald decisively crushed Hillary and her progressive ilk. We’re cool with that.
Too many ‘expert’ talking heads predicted a comfy, cozy triumph for Mr. Trump’s political nemesis, Hillary Clinton. The savvy statisticians and pollsters pegged her at 4-5 percentage points on top (VIVISXN put her a 6-7%, to our chagrin), and her pathway to the presidency looked pretty breezy. As polling booths closed across the country on election night, TV and media outlets began to call the election — a Hillary victory — on the basis of exit polls and early voting. But then The Donald flipped the script (again) by taking a few critical swing states, namely Florida, North Carolina and Ohio, which he crushed. Then he ripped through the Rust Belt states and places like Pennsylvania, Iowa, Ohio, Wisconsin, etc., turning them irrevocably red (many had not voted Republican in decades). Global stocks plunged, the S&P went ‘limit down’, and the tears at Hillary’s HQ began to flow. And then flow some more.
The Donald’s sweeping victory will be pretty damn consequential — with every passing sec the repercussions mutate and proliferate. But it’s all good. The Donald brilliantly bootstrapped his operation, spent half as much as Hillary, and executed an admirable and entrepreneurial strategy overall (on a dime budget and beholden to no one). Only a tiny clutch of media outlets and editors endorsed the cantankerous candidate, and all the ‘serious pundits’, political elites and ‘progressives’ predicted his defeat.
“It is one of the most insane and ironic electoral upsets ever — in America, or anywhere, for that matter,” said one policy wonk on CNN. Actually, not really. Just like with Brexit, the so-called experts scrambled to conjure a canvas of doom and gloom, warning anyone who would listen, that the end is nigh should Trump triumph, and that stocks could drop by 10% or more should The Donald occupy the Oval Office…and that the blond bombshell would trigger a nuclear war with, say, Russia, China or North Korea (our Facebook feed was gushing with apocalyptic defeatism and sour sound bites — especially from the global fashion and art set who were super quick to dis the election as illegit).
Anyway, Trump’s victory is constructive. He’s obvs an imperfect candidate. Duh. But Trump is an outsider-insurgent who would work hard to drain the elitist swamp of corruption, crony capitalism, corporate welfare, and politically correct mumbo jumbo. And only a rabble-rouser like him stands a chance of fixing this hot mess. Also, Trump is the pro-growth candidate. His across-the-board tax-rate reductions for individuals and businesses will boost the economy. His tax cuts for large and small businesses will re-incentivize start-ups and investment, from which productivity, real wages and growth spring.
America has had a somber 16 years of sub 2-percent growth (in real GDP terms), virtually no real wage hikes, and stagnant median incomes — or what supply-side supporters called ‘take-home pay.’ Trump’s economic plan will do for families what Democrats and Republicans have been unable to do in the past decade and a half. In addition, Trump’s repatriation policies will trigger trillions of dollars stashed abroad to come home. And his policies for low tax rates and immediate expensing of new investment will keep American businesses from systematically offshoring/outsourcing and win the race for global capital.
Tax reform likely will be the first policy action for the Trump tribe. A close second will be a thorough repeal and rewrite of Obamacare, restoring a freer market with true consumer choice, competition among providers and a more laissez-faire, free-enterprise economic environment. Trump also will roll back the massive Obama regulatory overkill. He will take all the shackles off U.S. energy production, push for school choice, protect the borders, and send criminal illegal immigrants back home for good. Those are all ligit policies. He also seems likely to increase spending on defense and on infrastructure. The biggest flaw in the Trump economic plan is the tilt toward protectionism. He rails against the TPP, and is skeptical of globalization. But we think that’s more rhetoric than reality.
In short, the so-called pros didn’t see it coming. But in the end, a Trump victory ain’t so bad. So chill.
Images via Wikimedia Commons
[VIVISXN – Politics + Economics + Geopolitics]