People that follow mainstream news media outlets such as CNN have been waiting for the other economic shoe to drop since the November 2016 elections.
In fact, liberal voices have welcomed the notion of another devastating recession. When the stock market took a short-term dip at one point in 2019, headlines and talk shows couldn’t stop smiling at the prospect working families would lose their paychecks. But the guiding hand of business mogul President Donald Trump and his economic advisors have not only stopped the country’s economic decline, business is also booming. While self-serving progressives continue to lie about the unprecedented prosperity working families are experiencing, more level-headed experts are cautiously optimistic that 2020 will be a banner year.
1: Stock Markets Expected to Surge
If history remains a good teacher about the future, Americans would be wise to invest their money in the stock market in 2020. Even a cursory look at the positive impact the America First policies are having on the markets over the anti-business Obama administration is cause for optimism.
When Obama won his first term on Nov. 4, 2008, the Dow Jones stood at 9,625.28. After eight rocky economic years of double-digit unemployment and a harsh anti-business regulation climate, the Dow had squeaked up to 18,332.74. Democrats were actually quite proud of this accomplishment, and touted the modest economic growth measures as a reason to elect Hillary Clinton in 2016. After Trump upset Hillary, the Dow surged nearly 300 points to 18,613.52 overnight. As 2019 closed out, the Dow hit a remarkable 28,538.44. That’s more than a 10,000-point gain in under three years, and the business community’s optimism has yet to waver.
“I’m looking forward to a great 2020. Forecast-wise, I’m seeing closer to 3 percent real GDP growth than 2 percent. I’m seeing at least 32,000 on the Dow,” White House trade adviser Peter Navarro predicted. “It’s going to be the roaring 2020s next year, 32,000 is a conservative estimate of where we’ll be at the end of the year.”
The Dow, S&P 500, and NASDAQ all achieved historic highs during 2019. The NASDAQ measure has made eye-raising gains. It stood in the low 5,000s when Trump won the 2016 election, and has now been hovering near 9,000. Indicators point to increased growth as the U.S. signs Phase I of a trade deal with China, the USMCA has passed the House, and the Trump Administration is readying negotiations with the U.K. after Brexit.
2: Gas Prices Expected to Go Down
Understanding economists talk about oil prices can be counterintuitive. They tend to look at oil corporation stocks decreasing as a bad thing. When they talk about crude oil prices rallying, that means working people are paying more at the pump. Big oil may be getting some bad news in 2020, but working families are expected to reap the benefits of lower prices.
The decline in oil pricing per barrel appears to be a direct result of the Trump Administration’s unleashing American companies to achieve energy independence. They passed that threshold in September 2019 at 12.4 million barrels daily. The country is now in the energy dominance league.
America is the top oil-producing country in the world, and began exporting its surplus for the first time since 1948. The oil glut is expected to increase and outpace global demand. Business resources such as Forbes and Fortune predict the price of a barrel of crude will fall back to $50 as gas and heating fuel get cheaper for everyday people.
3: Good Time To Buy A First Home
It’s no secret the president and the Fed chairman Jerome Powell didn’t see eye to eye on raising interest rates. When the Twitter dust settled, President Trump was proven correct and Powell lowered interest rates.
Experts, as well as casual onlookers, agree that Powell won’t raise rates in 2020 for two reasons. The economy is steady, and such a move would be disruptive. The second is that the president will promptly fire him regardless of the political fallout. The housing and job markets are expected to be healthy, and HUD Secretary Ben Carson has been touting manufactured homes and a way for moderate and low-income families to secure a government-backed mortgage.
Working families have a lot of reasons to look forward to the rest of the year.