U.S. Main Street Economic Indicators Remain Strong – Mortgage Demand Up 13% From Prior Year…

The COVID shutdown was an exceptional event. The consequences from the shutdown do have ripple effects; however, the strength of the underlying economic foundation is now coming back into focus as the rebound starts taking shape.

Last week most economic analysts were stunned by the 2.5 million jobs added to the economy in May. As we shared earlier, the result wasn’t so surprising when you consider the framework of the Paycheck Protection Program (PPP) worked exactly like President Trump and Treasury Secretary Mnuching planned. The incentives within the PPP program did what they were intended to do; small and mid-sized businesses retained or rehired their employees.

Inside the foundation of the Trump Main Street economy, the cement that binds the America-First policy, are a series of pre-established economic policies that specifically targets middle-class workers. The foundation is made strong by net wage gains and earnings amid mid-tier workers; those wage gains are made more important by policies that keep inflation in check.

Blue-collar workers, on average, were fortunately positioned to ride-out the COVID shutdown. With the shutdown over; Main Street now quickly fires back into action.

The demand for mortgage applications rose five percent last week, resulting in year-over-year growth over 13 percent. Again, this result stuns the experts. Demand for home purchases remains high and people are confident in their income security to make big decisions on home financing. The visible strength of Main Street cuts against the naysayers and doomsayers who thought the COVID shutdown would collapse the economy. It didn’t.

It did not, because (a) the shutdown was an exceptional event; and (b) the underlying foundation is stronger than the blow it took from the COVID sledgehammer.

(Via CNBC) “The recovery in the purchase market continues to gain steam, with the seasonally adjusted index rising to its highest level since January,” said Joel Kan, an MBA economist. “Purchase activity increased for the eighth straight week.”

Pent-up demand from the spring market, along with low interest rates are fueling a surprisingly quick recovery in home buying. As local economies open up, so do open houses, but there is still a severe shortage of homes for sale. (read more)

President Trump’s Main Street policies are directly responsible for the strength in the middle-class. The media apoplexy over stunningly positive economic news is directly related to how much damage a positive economy does to the Antifa/BLM strategy to divide our nation through class warfare. A thriving Main Street economy is antithetical to the objective.

A thriving Main Street means an expanding U.S. middle-class. As the middle-class expands it becomes more difficult to organize outrage based on division.

The ruling elites deny this fundamental truth, but the rust-belt did not create itself.

The erosion of the U.S. manufacturing base -and Main Street- was an outcome of policy. Both Republicans and Democrats participated in this process.  Democrats claim, falsely, to be champions of the middle-class; but their narrative is refuted by the actual results of their policy.  Both parties are deep in the pockets of Wall St multinationals.

Many people call for a third party in politics without realizing President Trump represents the first second party DC has seen in decades.  That’s why he is opposed by both wings of the same legislative bird.

Through dependency the political elites begin their role to decide who gets what part of their limited and controlled economic pie.  Economic intervention, supported by both wings, in the spending process is what has allowed political interests to retain control.

Main Street and the freedom within the free market is a problem for command and control economic systems.  Wall St global financial systems, controlled by a limited number of large institutional multinationals, are much easier to control.

Remember the catch phrase “too big to fail” in the banking system?  The DC ruling class said a small group of banks controlled too much wealth.  So they instituted ‘banking reform’.  The result was even fewer banks that were even bigger.  The outcome was the exact opposite of what they said was the purpose.  Their policy made the problem worse.

President Trump’s America First agenda is specifically a benefit to Main Street and the middle class.  In the banking sector treasury policy and targeted deregulation focused on creating more community banks and credit unions to benefit Main Street.  That’s exactly what happened. By focusing on Main Street, Trump and Mnuchin fixed what the uniparty congress did not. [Arguably, congress purposefully and willfully did not.]  Smaller, more nimble, banks are now positioned to assist small and medium Main Street businesses.

President Trump’s domestic and global political opposition recognize that his trade and economic policies have reversed much of their control.  There are trillions at stake, that’s the financial motive for the opposition.  However, a lack of control over the economic outcome; meaning President Trump creating more pies; means not only do they lose control over the money, they also lose control through diminished political power.

America-First is a program focused on Main Street and it expands the middle class.  That is why during President Trump’s first term the wealth gap actually started to narrow for the first time in decades.   The wage growth for line-level or blue collar workers was/is rising faster than the supervisory wages.  This is a uniquely trumpian effect from a return to economic policies that benefit Main Street USA workers.

More jobs means the value of labor to do those jobs increases.  This economic path is against the interests of coastal elites and the politicians they pay to retain the wealth gap.

When the economy was shut-down by the COVID virus, it was an unnatural economic event.  Everything inside the U.S. economy including: the number of workers; the growth in wage rates; the availability of jobs; the lack of inflation; the expansion of investment, was the strongest in our history.  However, when everything was stalled all of that positive architecture, the policy that created the outcome, did not go away.

U.S. economic conditions were being driven by internal economic activity that was no longer as dependent on global drivers.  When the underlying economic strength is domestic, it makes sense the economy can restart much faster because the activity is not dependent on outside global stimulus.  In essence, the USA can rebound much faster because we are NOT dependent on the restart of other global economies.  Again, another uniquely positive attribute that is enhanced by ‘America-First’ policies.

China, Obama, Pelosi and Schumer can, and did, attempt to throw a COVID wrench in the expanding U.S. economy.  However, they cannot undo the foundation President Trump had already established.  Those America-First policies will again work in our favor; and yes, when President Trump says he “can do it again” his confidence is based on that underlying foundation.

Trump may not articulate it, but he knows the U.S. economic independence he has already achieved through three years of advanced policy to benefit Main Street.  He knows the trade agreements, the cutting of regulation, the unleashing of energy development and the weight of tariffs on imports all mean the best place for investment is inside the U.S.A.

That fundamental structure did not change, and is not going to change.

A recent example – Remember the previously mentioned policy focus on deregulated community banks and credit unions to assist Main Street?  Perhaps a sidebar is important:

SIDEBAR: Trump and Mnuchin viewed the entire U.S. banking system as too monolithic and generally positioned to the benefit of Wall Street and not Main Street.  As such their approach toward regulation was to split the regulatory financial system into two segments according to the size of the bank (or financial entity).

Big institutional banks (more than $10 billion) retained comprehensive regulation over their practices; however, smaller banks do not have the same level of regulatory and compliance mandates. This approach is the modern era financial outlook that, like MAGAnomics, is entirely new and bold.

“we do not support a separation of banks from investment banks, we think that would have a very significant problem on the financial markets, on the economy, on liquidity; and we think that there is proper things that potentially we could look at around regulation, but we do not support a separation of banks and investment banks.”

~ Treasury Secretary Steven Mnuchin testifying to the Senate Banking Committee, May 18th 2017

At first blush that statement from Secretary Mnuchin might seem to run counter to the Trump administration’s prior policy statements outlining a preference for a reinstatement of some form of “Glass-Steagall” regulatory separation between commercial banking and investment banking.  However, it doesn’t.

When combined with the totality of Mnuchin’s testimony before the Senate Finance Committee, Mnuchin was saying the “too big to fail” (‘too big to succeed’) issue has created a problem for lending liquidity.  Specifically, if divisional separation is required – the banks’ best interests would naturally put the investment division ahead of commercial lending and the liquid capital within the overall U.S. economy would shrink.

Back in July 2010 when Dodd-Frank banking regulation was passed into law, there were approximately 12 to 17 banks who fell under the definition of “too big to fail”.

Meaning 12 to 17 financial institutions could individually negatively impact the economy, and were going to force another TARP-type bailout if they failed in the future.  Dodd-Frank regulations were supposed to ensure financial security, and the elimination of risk via taxpayer bailouts, by placing mandatory minimums on how much secure capital was required to be held in order to operate “a bank”.

One large downside to Dodd-Frank was that in order to hold the required capital, all banks decreased lending to shore-up their liquid holdings and meet the regulatory minimums.

Without the ability to borrow funds, small businesses had a hard time raising money to modernize or create new business.  In the big picture, growth in the larger economy is hampered by the absence of capital.

Another downstream effect of banks needing to increase their liquid holdings was exponentially worse.  Less liquid large banks needed to purchase and absorb the financial assets of more liquid large banks in order to meet the regulatory requirements.  Indeed this is exactly what happened.

In 2010 there were approximately twelve “too big to fail banks”, and that was seen as a risk within the economy, and more broad-based banking competition was needed to be more secure.

Unfortunately, because of Dodd-Frank, by 2016 those twelve banks had merged into only four even bigger banks that were now even bigger risks; albeit supposedly more financially secure in their liquid holdings.   This ‘less banks’ reality was opposite of the desired effect.

The four to six big banks (JP Morgan-Chase, Bank of America, Citigroup, Wells Fargo, US BanCorp and Mellon) now control $9+ trillion (that’s “TRILLION).  Their size is so enormous that small number of banks now control most of the U.S. financial market.

Because they control so much of the financial market, instituting a Glass-Steagall firewall between commercial and investment divisions (in addition to the Dodd-Frank liquid holding requirements), would mean the capability of small and mid-size businesses to get the loans needed to expand or even keep their operations running would stop.

2010’s “Too few, too big to fail” became 2016’s “EVEN FEWER, EVEN BIGGER to fail”.

That’s the underlying problem for a Glass-Steagall type of regulation now.  The Democrats created Dodd-Frank which:

•#1 generated constraints on the economy (less lending),

•#2 made fewer banking options available (banks merged),

•#3 made top banks even bigger.

This problem is why President Trump and Secretary Mnuchin created a parallel banking system of smaller community and credit union banks that are external to Dodd Frank regulations and can act as the primary commercial banks for small to mid-sized businesses, ie. “Main Street”.

This intended banking design of smaller, more connected to Main Street lending, is why President Trump and Secretary Mnuchin did not support the CFPB banking rule that allowed lawsuits against all financial entities.

The goal of “Glass Steagall”, ie. Commercial division -vs- Investment division, is actually being achieved by generating an entirely new system of banks under different regulation.  The currently remaining ten U.S. “big banks” operate as “investment division banks” per se’, and are subject to larger regulatory requirements.  However, the lesser regulated community banks/credit unions operate as the “Commercial Side” benefiting Main Street.

Instead of fire-walling an individual bank internally within its organization, the Trump/Mnuchin plan actually created a fire-wall the banking ‘system’ within the U.S. internally.  Hope that makes sense.  SIDEBAR ENDS

The success and efficiency of the Paycheck Protection Program for small and medium business was a direct result of that earlier banking regulation and policy change.  Brilliantly, Mnuchin used the architecture of the FDIC system to guarantee the loans so the small nimble banks could move quickly. The FDIC was used an an underwriter of sorts for the affiliated lenders; and removed any risk.

PPP borrowers who use small to mid-sized banks or local credit unions were able to get fast access to the funds and retain or re-employ their workforce.  Those businesses who operate through the big banks, did not get the same responsiveness.  [Again, a good lesson for small business owners…. keep your banking as local as possible.]

The rapid response rate for PPP loans by smaller banks is specifically and directly responsible for the May jobs result of 2.5 million gains.  Even in crisis the America-First foresight pays dividends.

The far left is hoping to curtail the strength of the economy; that’s why the blue state governors are fighting against reopening.  However, the organized protests of thousands of people gathering together have made their best COVID shutdown arguments moot.

We must not allow the media and politicians to demand keeping restrictions on the economy when we know the underling control mechanism, the social distancing effort, was entirely based on politics.  Their support for the protest crowds proves that point.

 

This entry was posted in Agitprop, Big Government, Donald Trump, Economy, Election 2020, Legislation, media bias, Mitch McConnell, Nancy Pelosi, Notorious Liars, President Trump, Uncategorized, US Treasury, USA and tagged , , , , , , , . Bookmark the permalink.

94 Responses to U.S. Main Street Economic Indicators Remain Strong – Mortgage Demand Up 13% From Prior Year…

  1. MakeAmericaGreat says:

    “Many people call for a third party in politics without realizing President Trump represents the first second party DC has seen in decades. That’s why he is opposed by both wings of the same legislative bird.”

    Perfectly said.

    Great write-up. Thanks.

    Liked by 18 people

  2. BuckNutGuy says:

    Not that SD called out for ground reports, but in Central Ohio homes are selling within 24 hours at full list…at least in 1800-2800 sqft range…

    Liked by 9 people

    • TGB says:

      Our house in the midwest sold in late April as a pocket listing same day. Mid 200K 1674 sqft. Full asking price. The economy was booming before COVID slammed the breaks on it early March. Judging my Lowes/Home Depot / Menards parking lots people are still spending. Cars and Restaurants are still hurting.

      Liked by 4 people

      • bertdilbert says:

        I bought Home Depot and Low’s stock for multiple reasons. One of the reasons was the interest rate cut. What are people going to do? They are going to refi their mortgage, put some extra bucks in their pocket and take out an equity loan to improve their biggest investment, their home.

        Cheap money raises asset prices. Good dividend paying stocks are worth more with an interest rate cut since bonds compete against stock yields.

        Trump wanted that interest rate cut for a long time. Corona Virus gave that to him and much more economic stimulus. Even with the democrat antics, it is going to be hard to hold this economy back.

        Liked by 5 people

        • steph_gray says:

          I was at my local Lowes in blue MA this afternoon. I have never see the parking lot so full on a weekday afternoon, and I’ve been going to it for ten years.

          Liked by 2 people

    • grandmotherpatriot says:

      People are bailing out of the big cities.

      Liked by 3 people

    • sickconservative says:

      Had a mom of daughters friend realtor that we hadn’t seen in a few years stop by as she has buyer’s while inventory is lacking.

      Liked by 2 people

      • BobInFL says:

        This is really great news and something I have been waiting on. Told my wife and relatives last year that 2019 was the year to sell our house (we are nearing retirement and empty nesters for the most part) and that I was concerned that something bad was going to happen in 2020 because of the election (there are trillions at stake). Everyone thought I had tinfoil on the brain…..will wait another month to see how things are shaping up here in South Florida and if indicators are still looking good we may still take the plunge in 2020. Thank you President Trump!!

        Like

    • Baby Hurley says:

      O-H…

      Liked by 1 person

  3. numbersixdance says:

    PDJT has been silent…letting the Left hang themselves with their anti American, anti capitalism and pro looting and rioting agenda. Who are these so called economic experts? Failed teachers at Universities who could not achieve tenure? Remember the adage…those who can do, those who can’t teach.

    PDJT has an exceptional economic team in place…do not capitulate to the blue states wanting a bail out!. Let them and their citizens twist in the wind as a result of Democrat policies. I’m sorry blue state treepers.

    Liked by 7 people

    • Linda K. says:

      Jeb Bush’s son will vote for Trump. “He is all that stands between us and socialism.”
      https://thepoliticalinsider.com/jeb-bushs-son-is-voting-for-trump-and-his-reason-should-shame-every-republican-who-isnt/

      Liked by 1 person

    • grandmotherpatriot says:

      What are you sorry about ? Us Blue State Treepers do not need bailing out as we are not socialists. I was born in Chicago and a registered conservative, many down state IL residents do not want a bailout for Chicago as Chicago is the problem in IL always has been….
      I have survived this long without goverment handouts and will still vote for President Trump in November.

      Liked by 4 people

      • Dutchman says:

        gmp,
        Well said. In addition to recognising the truth of the Uniparty, and the fallacy of R vs D, we need to recognise the fallacy of Red STATES vs Blue STATES.
        Yes, at the electoral college level, which only applies to Potus elections, and in Senate elections, where a,whole State elects its Senators, it applies to a degree.

        But, digging deeper, we see it is REALLY about large cities. Large cities are the Blue centers, surrounded by a vast,sea of red.

        So called Blue States, like NYS and,Calif. Are actually the same configuration as “Red States” like Texas and Utah.

        Big cities tend to have large Universities of higher indoctrination, sometimes multiple Universities in one are.
        THIS contributes to their Blue cast.

        They tend to have significant populations of the poor, of all races, dependant on the givernment dole, and therefore more likely to vote Dem.

        And, they are the areas with long term Democrat control, enabling various methods of ballot fraud to become established, intitutionalised even.

        And so, not content to blatantly hurt the big cities by keeping them in lockdown, they then simultaneously clearly expose the sham by having these ‘peaceful protests which are in direct contradiction with social distancing, and further show their utter contempt for the welfare of the residents of these cities, by countenancing and encouraging the riots.

        And,….they think this is a winning strategy?

        Liked by 1 person

      • Amy2 says:

        I think numbersixdance just wanted everyone to know he/she was not slamming treepers who are in blue states. ‘Seems to understand your delimna.

        Liked by 2 people

  4. thedoc00 says:

    A major contributor is that the cost of money is low and likely to stay that way through fall.

    Liked by 1 person

  5. helmhood says:

    The models used for pandemic forecasts were wrong.
    The models used for economic forecasts were wrong.

    WHO would put a damn worth of credence in models used for election forecasts?

    Liked by 6 people

  6. All of a sudden my job is booming. Job is dependent on consumers consuming and people traveling and staying in hotels . Company is actually hiring more people to do my job after several weeks of next to no work. Now we are being asked to put in extra hours if we can and small bonuses for extra hours. All I can say, is it’s been awhile since I heard from a hotel chain, and today there was some work there….people spending money.

    Liked by 7 people

    • Dutchman says:

      In addition to PPP, and those “non-essentials” bear in mind, “essential workers” which includes, for example auto mechanics, construction workers and home repair like plumbers,…ALSO got the $1200 per person stimulas checks.

      So, WHAT are they gonna do, but spend that $? Increasing demand.

      This,Whu-flu clearly shows the war with CCP is mainly an ECONOMIC war, and PDJT’s “Economic Security is National Security” is spot on, and just “paid off” for us.

      Just,as he shored up and rebuilt the military, because best offence is,a good defence, shoring up and rebuilding the economy is the best way to defend against an economic attack, which is primarily what Who-flu was.

      And, by his responce to Who-flu, he is demonstrating that Americas economic strength, its innovative strength, etc is best positioned, uniquely positioned to defend against such an attack.

      The parallel comparisons to WW2 are spot on. We built 100,000 airplanes/year, as well as carriers, tanks, etc.

      No other country could have marshalled the resources we did, then.

      Likewise today, with ventilators, etc.
      When he listed the accomplishments every day, in the task farce briefings, he was talking directly to CCP.

      “Nice try, but no cigar!”

      Liked by 4 people

      • WSB says:

        Convertable manufacturing and services. Every company large or small needs to have a convertible plan to stay open in case of war or Plannedemic.

        Maybe now we have learned our lesson. Time to give some medicine back to the CCP.

        Like

        • Dutchman says:

          Ever listen to Suze,..Orman (I THINK IT IS?) the financial advisor?
          Written books, does seminars, pbs broadcasts?
          Actually, there are a,# of others, including several on Christian radio, ALL giving substantially the same advice.

          Advising how to establish a household budget, and get and stay out of debt. Build up an emergency fund. Sound advice,…kind of ‘survivalism’ applied to household finances.
          Why doesn’t the same thing apply to running a business?

          We all know the statistics on small business “failures”,..and not hard to understand why.
          Most never take a couple of classes, at a community college, on HOW to run a business.
          The Who-flu was unique, and hurricanes happen.
          But, afterwards SOME small businesses reopen, and some,…don’t.
          Sorry for those that don’t, but maybe they will learn from the experience, and do better next time. And, maybe some will start businesses, that otherwise wouldn’t have.

          Its equal OPPORTUNITY, not equal outcome.
          My dad had a plaque, hanging on the,wall. Had a picture of a guy, wearing a barrel.
          Said “The world DOES owe you a living, but you have to work HARD to collect it!”

          Liked by 1 person

  7. StanH says:

    This is ballgame as this continues.

    KAG!

    Liked by 1 person

  8. The Boss says:

    So nice to see the Jobs Not Mobs graphic. It is more appropriate now than ever.

    Liked by 5 people

  9. FreyFelipe says:

    I would imagine lots of people now living in ‘certain cities’ will be buying new homes … … in places as far away from those ‘certain cities’ as they can get.

    Liked by 5 people

  10. Patience says:

    A very stable genius; indeed !

    Liked by 3 people

  11. moe2004 says:

    Mortgage interest is most likely people fleeing cities, like NYC. The blue states were already losing millions of people, Wuhan Flu is the icing on the cake.

    Liked by 2 people

    • steph_gray says:

      And the good news is that those in exodus are not going to be bringing leftism to their new homes – they will be shaking the dust of that off their feet!

      Liked by 1 person

  12. TGB says:

    Perfect sidebar SD! The local bank with < 15 branches with tellers and bankers that live, shop and have kids in the same schools as the community that they server have very little in common with JPMORGANCHASECITIWELLSBANKOFAMERICA.

    Sure some of the giants have branches in my small city, but most people and small buisness choose to bank with a local bank or credit union because the decision making is local or semi local.

    Like

    • 4EDouglas says:

      Finally bailed out of Wells Fargo I was stuck there due to some things related to my wife’s family/ Now at a local bank-and I know all the people who work there got tired of being run over by the Stagechoach.. Got real tired of walking int WF and a new employee fo the week from out of the area,and possibly this solar system…

      Liked by 3 people

      • California Joe says:

        Yes, what’s the story with Wells Fargo Bank having new third world employees every time I go there? What’s the business logic?

        Liked by 1 person

        • 4EDouglas says:

          Yep Ghana , Egypt, Venezuela, though I liked that guy he was on the ball, but he quit. Denmark, Mars. Star wars bar scene..Not one local who knew the people..

          Like

  13. California Joe says:

    San Diego is increasing its police budget not cutting. Orange County is increasing the OC Sheriff’s Department budget. Both counties were relatively unscathed by the riots that devastated Los Angeles. In fact, demand for homes in the areas surrounding Los Angeles like South Orange County is getting stronger by the day as Los Angeles politicans find new ways to pander to Blacks.

    Liked by 3 people

  14. DAVID CRAIN says:

    There’s a similar situation with boat sales. Boating appears to be a popular choice for families as the local swimming pools are closed this summer and beaches are restricted. I just had a surveyor Monday inspect a boat I had for sale (now sold) saying it’s the busiest he’s ever seen.

    Liked by 2 people

    • Wethal says:

      No wonder the marina told Governor Whitmer’s husband it couldn’t get his boat ready in time for Memorial Day. 🙂

      Liked by 3 people

      • J says:

        There are more registered boats in Michigan than in any other state.

        Our Governor is an idiot who will be on the outside looking in once her recall is complete. The petition got the go ahead yesterday. We have 60 days to get the signatures. I have little doubt the goal will be achieved.

        Just today HalfWhit gave the thumbs up to defunding the Police. Of all the biggest cities Detroit was one of the quietest thanks to our excellent Police Chief and a Dem Mayor who is not a leftist. As Bugs would say, “What a maroon.”

        And when it is time to vote Whitless will not have the benefit of recreational pot on the ballot that brings the dopers out of mommas basement. I am optimistic wHitlers term ends in January.

        Liked by 3 people

        • Baby Hurley says:

          Well, Michiganders know who they’re dealing with now so I should hope she’s a goner. Just don’t send her down here to Ohio, ok? We have enough half-wits…

          Like

        • Dave Hunter says:

          I pray the recall in Michigan is successful. Half-Whitmer is an arrogant, scheming beech on the order of Hillary. I imagine her foray into the protests after what she said about the open Michigan protesters should be the last straw for people there. Good luck!

          Like

    • TonyE says:

      Hmm… out to sea or the lake.. do you have to stay indoors in the cabin, aren’t you afraid the cops will send out a CG cutter and two helicopters if they spot you out and about the deck? 😉

      Maybe if you fly a black flag they’ll leave you alone, huh?

      Like they did to that woman in LA when she was surfing?

      Like

  15. cherokeepeople says:

    as this economy opens back up the job numbers are going thru the roof.did the dims even think with all the destruction being done by the rioters that it would need to be rebuilt??more jobs,more supplies etc may numbers were 2.5 million jobs.i bet it will be close to 20 mil for june.

    Like

    • Dutchman says:

      Been saying the same thing, stores will need renovating, and then restocking, which is,all economic activity, i.e. JOBS.

      In addition, there is going to be a 3 month ‘backlog’of demand, for all those sectors deemed “non-essential”.

      This is going to be a booster rocket, on an already booming economy. Thru the roof, beyond the moon,….words fail.
      And their attempts to derail, have only added boost, longterm.

      Sucks to be them!

      Liked by 2 people

      • Jan says:

        Coronavirus was just a dress rehearsal for getting control over people by insisting they stay home. The Floyd murder was a chance to throw anarchy at us, while the radical governors had authority to let their supporters riot & loot while still keeping businesses closed & those not rioting & looting staying at home.

        Seattle is showing us what they’re planning, and they’ll have no trouble doing this in the East & West Coast states that they control.

        Getting job numbers up, keeping businesses open, getting jobs for those who have too much time on their hands, and protecting them all from the Communist anarchy that is the Democrats & RINOs has never been more important. And I’m sure these dirty bastards have more tricks to play on our economy.

        Fortunately, we have VSGPDJT!!

        Like

        • Dutchman says:

          I’m thinking knock out the power grid,…seriously its not that they are fighting over control of America, its that they are fighting over the FATE of America.
          We Deplorables and PDJT are fighting to preserve America, but THEY are fighting to destroy it.
          And taking down the power grid would put us back to the 1800’s.
          “Any means neccesary” so I wouldn’t put it past them, and not that hard to do.

          Like

    • Amy2 says:

      Amen Cherokee. People will also be smarter this time (I believe) when it comes to their solvency. Lots of new start up businesses coming and plenty of clean up and remodeling.

      Like

  16. Mike in a Truck says:

    June 19. Tulsa. The beginning of the end for the DemCong traitors.

    Like

  17. Val says:

    We travelled all over the Country during the “pandemic”, one thing that called my attention was that constructions never stopped. They kept building hotels, gas stations, malls. Many road constructions as well. That was a good sign.

    Last week our favorite bbq place in TX was packed, no masks, no safe distance.

    Today in Oklahoma, the restaurant was operating, but no buffets, and they were taking every precaution for people not to seat too close. They also offered a paper where you scan the code to go to the menu online…we just laughed and asked for the paper menu. The waitress seemed relieved. Two guys came in wearing masks and I was curious as how they were going to eat, but they were just there for takeout.

    Liked by 3 people

    • 4EDouglas says:

      At my favorite lunch place in NE Oregon-we had meeting of out bible study. no masks .
      No one else. 6ft tables but we all sat at the same table. Love it..

      Liked by 1 person

  18. hawkins6 says:

    IMO, the greatest service P Trump can do for his country is to produce a flourishing economy that creates sustainable jobs for as many Americans as possible. Unfortunately, while PT is recreating wealth and jobs for Main and Wall street, the obsessed Dems are following the lead of DC mayor Bowser and prioritizing the painting of “Black Lives Matter” on several major streets in their battered cities. One is not enough for NY.

    Trump’s economic initiatives are the most important but the demented left is not going to stop their endless political games and ploys to divide and tear down the nation that he is working so hard to rebuild. POTUS and the elected GOP members have to develop a counter strategy to at least hold them at bay. They will not give the President or the people of their crumbling cities a moment of peace.

    The contrast in priorities between the President and the lefty mayors of the nation has never been greater.

    Like

    • Dutchman says:

      Tar or black paint, at 2:00 a.m.?

      “Harry, I thought you painted “Black lives matter” here, and I told you to paint “Defund the Police” over THERE!
      WTF, where is it?”

      “I DID, I swear to baal I did!”
      Lol,…

      Liked by 2 people

    • 4EDouglas says:

      The people affected know this that is why Trump’s chunk of the Hispanic and Black vote will be ah,YUGE. .
      The Dems may not be able to cheat this one. My biggest fear is they try to starta war with Russia- thier fondest dream or China

      Liked by 1 person

  19. California Joe says:

    ARTICLE BY ANN COULTER ON 06/10/2020
    Mass looting throughout the nation. Police precincts burned to the ground. Murdered cops. An historic church in Lafayette Park set on fire. Video after horrifying video of innocent Americans being beaten senseless by gangs of thugs, as one political party demands: “DEFUND THE POLICE!”

    Everyone is saying it: I no longer recognize my country.

    You don’t recognize your country because it’s not the same country. What you’re seeing is the third-world hellhole the left has been quietly assembling for us since 1970.

    Minnesota, the crucible of the riots, has gone from having 2.6% foreign-born in 1990 to nearly 10% foreign-born today—and that’s not including their children or illegals.

    Instead of liberal but non-rioting Scandinavians and Germans, the new immigrants are overwhelmingly African, Asian and Hispanic. In fact, Minnesota now has a much larger proportion of Asian and African immigrants than the nation as a whole.

    Although the state has always leaned Democratic, thanks to its German and Scandinavian immigrants (Ben Franklin was right about them), the Norsemen elected Walter Mondale. Recent immigrants elected Rep. Ilhan Omar.

    Hey, Republicans! Tell me again that immigration is just a “single issue.”

    Like

    • hawkins6 says:

      California Joe:
      Coulter is still venomously criticizing PT for not building the wall despite all he’s done to fund hundreds of miles of it even with the Dem House opposing it and Paul Ryan in the 1st 2 years. She’s trying to ruin his chances of being re-elected.

      The quote-“Instead of liberal but non-rioting Scandinavians and Germans, the new immigrants are overwhelmingly African, Asian and Hispanic” is an idiotic thing to write esp. now when there are too many voices already dividing the nation on race.

      Race is not the reason for the disparity. Have you not seen the many great Trump supporters (or similar minded) that are black (Candace Owens); Asian ancestry (Andy Ngo) or “Hispanics for Trump” and on and on. Many of Trump’s most brilliant and capable supporters are not of European ancestry.

      The major difference is not racial but political and cultural. Europeans live in Common-law countries (or did) while some of the more aggressive “Africans” you mentioned were raised in countries living in the 7th Century and strict sharia law and so on. But I agree that people of any race that hate America and wish to destroy it should NOT be given citizenship passes into the country.

      Liked by 2 people

      • California Joe says:

        Third world immigrants will turn America into a third world country. That’s the bottom line and Ann Coulter said it because it has to be said. Cheap third world labor comes with a very high price!

        Liked by 1 person

        • GrandpaM says:

          “Liberal but not rioting Scandinavians and Germans” are the perfect foundation for the growth of the rioting and looting turds.

          Liked by 1 person

          • 4EDouglas says:

            There were a lot o (tubby)f blonde ,white women in those riots Antifa is white. The left is altogeather in this look at the stae of Seattle and the new country of “Chaz”. Inssurection by whites from mommie’s basement..

            Liked by 1 person

  20. Mike in a Truck says:

    Live a sheltered life? Get out on the road and see the country. You will see what rebound is. Oh wait- you’d rather sit home scared shitless and watch CNN.

    Liked by 3 people

  21. numbersixdance says:

    It is a anti Trump media hyped hoax (#3 to be exact….BLM was #4) and there will be solid economic rebound due to sound economic policy.. And I’m not looney but certain trolls like yourself are.

    Like

  22. fangdog says:

    We live in a Country with two options; One an evil Communist-style Democrat central controlled, enslavement, destructive Society and one a Trump envisioned Justice Society of freedom, self-destiny and prosperity for all Americans who choose to be Americans.

    On the surface it seems as an easy decision. Why would anyone choose to be a Democrat is truly mind boggling? How can anyone find themselves so demented?

    I can understand; Globalist Elites, “Deep State” and perhaps most government employee’s at high levels which includes “Educators” (Indoctrinates). Also, this includes the Presstitutes wholly owned by the corrupt multi-National Elites.

    The run-of-the-mill democrats has to be nothing more and nothing less than “Useful Idiots”. Thanks to wearing masks they have become much easier to identify. Masks are now “uniform for the day” for the sheep being led by goats. In my area it is easy to spot them a mile.

    Liked by 1 person

  23. Harvey Lipschitz says:

    We are in June. Last December the new housing starts also went 600,000 above estimates. That is a consumer boom that is still swollen. American jobs. Mostly American building supplies.

    Then interest rates were dropped. More demand resulted. Car sales are coming back because of low interest rates, high Dow and cheap gasoline. It was a little embarrassing selling your house, making money on it and using some to buy a car and some for down payment on new home. Not supposed to be cruising.

    Liked by 1 person

  24. Doppler says:

    I dunno. PDJT is going toe-to-toe with globalists like Soros, Bill Gates, etc., the whole Wall Street-Davos-EU-China-Pharma group that have been bleeding out America for the last 25 years for their own benefit. We’ve had RussiaGate, Mueller, UkraineGate, Impeachment, Covid 19, the Fed printing trillions of dollars to fund PPP, etc., now BLM, but we haven’t yet had the full-on George Soros led “short-the-US-dollar” attack that we would expect to be his big gun, the long-delayed financial pay-off for all his corrupto-dollars pumped into so many political and media stooges for so many years.

    Dollar dropped five cents against the pound in the last week. What’s up with that?

    As the months tick tock on by, his enemies perpetually on the offensive with one new initiative after another, each bigger than the last, the Fed propping up every asset class, I just worry about the next shoe to drop, and whether waiting forever on Barr, Durham, IGs, etc., etc., won’t prove too much in the end.

    Like

  25. I just look at my twice weekly commute.
    New home building hasn’t slowed a bit around here for for a year.
    Almost like, there was no real wuflu at all.

    Liked by 1 person

  26. Joe says:

    The $10 billion thresholds have been in place since 2011 (see below). I am in that sector and remember the CFPB announcement. The CFPB did not want to deal with “small lenders”. The felt their size did not jeopardize the safety and soundness of the larger economy.

    Consumer Financial Protection Bureau Outlines Bank Supervision Approach
    JUL 12, 2011

    “The consumer agency will conduct examinations to help ensure that consumer financial practices at large banks conform with consumer financial protection legal requirements. The CFPB’s bank supervision program will oversee the 111 depository institutions that have total assets over $10 billion. Subsidiaries and all other affiliates of these institutions also fall under the CFPB’s authority. These institutions collectively hold more than 80 percent of the banking industry’s assets.”

    https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-outlines-bank-supervision-approach/

    Liked by 1 person

  27. cherokeepeople says:

    this virus is also drumming up a booming business in the home pool industry.beings alot of cities will be keeping their pools closed thru the summer,it is making people turn to a backyard pool.i have had a heater on back order for over a month and my grandson wanted just a small pool 10ft round pool for their driveway.also out of stock.a no timeframe on when they will have them.

    Like

  28. Scro says:

    Southeast Wisconsin (Lake Geneva, Burlington etc) wide open and having fun. Wear a mask if you want to but not required. Bars/restaurants full of Illinoisans spending, spending, spending. Money is mobile and follows the path of least resistance. Illinois and Chicago want to keep the lockdown going but will hit a wall soon because the riots will not produce a Whuan increase. One can riot in Chicago but one can’t go on their boat but one must still pay for their slip. Hopefully mayor Pottymouth and our obese governor will be one termers.

    Liked by 2 people

  29. MakeAmericaGreat says:

    Sundance puts out a large volume of material. When you do that, you have to make choices — is it more important to get the words and ideas out, or is it more important to get the spelling and grammar all perfect?

    I know some brilliant people who can’t spell to save their lives. They don’t worry about it. Also, I often make numerous mistakes just when writing comments, even with spell check help, so I don’t worry too much about when others have similar issues.

    Liked by 1 person

  30. President Trump is awesome. We finally have someone as president who understands business and is not just all talk and no action.

    NO MORE LAWYERS FOR PRESIDENT

    Liked by 1 person

  31. Ackman419 says:

    Excellent post, SD
    I would offer that mortgage apps are up because refis are tard level no brainer.
    We got a 2.75 recently, from 3.45 Lowered my monthly by $400
    I admit, I didn’t look at the link SD provided.
    Are refis included in those mortgage numbers?

    Like

  32. Inthedark says:

    Just sold our future retirement home and having a new one built. By the time our build is complete I expect interest rates to be even lower.

    Like

  33. granitej4 says:

    You know what would make trump even more legendary? If he broke off from the repubs this election and created a whole new party – just as a favor to leave behind to Americans who are sick of the uniparty.

    What would be a good name for it?

    Like

  34. T2020 says:

    Will bounce back BIGLY.

    Like

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