FOX Business host Larry Kudlow breaks down what the stock market rally means to the American people on ‘Kudlow.’
There’s a blue collar boom out there – that’s what investors are telling us and that’s the story of the riff.
I Trump trading on Wall Street predicts a blue-collar boom in the economy. Since election night, the Dow Jones has risen more than 2,000 points – including more than 500 points earlier today. In fact, the Dow’s 1,500-point rise the day after the election was the single largest daily gain in history.
The rally isn’t just about NVIDIA and Big Tech stocks. It spread to banks, industries such as Caterpillar, and small caps through the Russell 2000 – and let’s not forget that Trump’s trade includes a spectacular rally in Bitcoin, which has risen by 43% – or $30,000 – since the election in the last fifteen days.
FAILURE TO FORCE PUBLIC DEBT TO RECORD LEVEL IN 4 YEARS
‘The Claman Countdown’ panelists Kevin Mahn and Noah Hamman break down the bull rally.
Mr. Trump has made himself a cryptocurrency aficionado. As reported by Charlie Gasparino and others, he even talks about a ‘Crypto czar’ in the White House and the widespread use of cryptocurrency – which can provide competition excess money created by the Federal Reserve.
It is very similar to Nobelist Friedrich Hayek’s idea of financial competition. The Fed hates this. So, it must be a good thing. The Trump trade is also a good bet that he will keep his promises to generate more energy, especially liquid gold, Trump 2.0 tax cuts, massive spending, budget cuts from Elon and Vivek, and a sound King Dollar.
Yes, he will protect American business from unfair trade practices that use tariffs as an important bargaining tool. It may be a new golden age for the economy and the nation as a whole.
Hopefully, the tax cut package will be the first order of business on the official calendar.
To strengthen his growing coalition of working people of all races and ethnicities, Mr. Trump must immediately restore take home pay. Average median wages adjusted for inflation have fallen during the Biden years and, along with rising prices, have fueled Kamala Harris in the polls.
Hopefully, lower energy prices will keep inflation low while tax and regulatory cuts will boost business, jobs, profits and blue-collar wages. Prioritizing tax cuts will be a priority and then, along with tax cuts, comes regulatory reform led by Elon Musk and Vivek Ramaswamy.
Using recent Supreme Court rulings — and working with the White House Office of Management and Budget — the DOGE commission will cut federal laws, determine the size of federal bureaucracy, limit the federal budget’s bloat, and limit spending. that is approved but never used.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
You only need 51 votes in the Senate to repeal certain types of spending or any number of laws, as Senator Rand Paul told us on the show last night.
I Trump trade and the blue collar boom. All of that I would call: pure gold. That’s the wrap.
This article is adapted from Larry Kudlow’s opening remarks on Nov. 21, 2024, edition of “Kudlow.”
Source link
