The nation’s economists are heading into the upcoming weekend with big smiles on their faces as newly released data now shows that the U.S. economy had its fastest onset of growth recorded in years!
Recent data released by the Commerce Department said gross domestic product grew by 6.4% on an annualized basis in the three-month period from January through March of this year.
Many suggest this large amount of growth in such a short period stems from the successful distribution of the Covid-19 vaccine and the continued “return to normalcy” that followed shortly after.
… And many still suggest that the best has yet to come for the U.S. economy during this post-pandemic boost!
All of this recent progress will undoubtedly be added to the long list of one Mr. Joe Biden’s accomplishments, despite the fact that many of the policies in play that led to said progress were implemented by the Trump administration leading up to the end of his first term…
Credit Where Credit’s Due…
Recently, we posted an article discussing the progress being made by D.C. on vaccine distribution and discussed how the media continues to praise the Biden administration for policies that ultimately have their roots planted in the Trump administration’s soil!
Today, we see not much has changed since the publication of this previous article as Team Biden once again continues to take full responsibility for anything positive happening during their time in office, no matter if it stems from their policies or not.
Now, that doesn’t mean there haven’t been policies or actions taken during Biden’s time in office that have helped lead up to our recent successes, including this most recent economic win, (and it should be noted that Trump was known for taking credit for successes that stemmed from his predecessors time in office as well) but just as we may not be able to fully discount the Biden team’s part in our recent progress, we also can’t completely erase the steps team Trump took to make sure our country got back on the right track during those early – and scariest – months of the coronavirus.
When discussing the economy, the same rules seem to apply… Many are too eager to forget the successful first few years of the Trump administration’s term when looking at the economy.
The first part of the Trump term saw a booming economy and a soaring market that left many of Trump’s political enemies in the dust! It wasn’t until the U.S. was hit with a global plague, the likes of which had not been seen in this country for over 100 years, that, understandably, things began to take a turn for the worse… But can we blame Trump for this downturn?
Do people blame F.D.R. for WWII? No!
Like the onset of a global war, this global pandemic was something our country was presented with that it had an obligation to confront.
Yes, like war, the pandemic was costly in many ways… Yes, people suffered. Yes, our economy suffered… But in the end, as we’re seeing proof of today, the country will dig itself out and rise again, just as we’ve done before!
At the Helm of the Greatest Ship in the World…
The United States, like a great ship, has many moving parts and many individuals responsible for the successful operation of those moving parts. It’s important to remember, despite the feelings one may have in regard to former President Trump, he was merely the captain on duty, helping steer this ship away from danger. Anything good (or bad) cannot be singled out as his personal error. As President, he was in charge of making the decisions, but, when it came to making those decisions, he had a team of qualified men and women working with him to make sure he was provided nothing but good options to select from.
That’s true with President Biden as well. While Biden may not flock to the spotlight as much as Trump did, it’s important to give credit when credit’s due and point the finger when the situation demands it, politics aside!
That’s not a partisan comment… That’s true no matter who’s in office, Democrat, Republican, Independent or Whig… (Okay, maybe Whig’s too far back!)
Teamwork Makes the American Dream Work!
In our heavily divided country, we need to work to get back some of our good, old-fashioned commonsense thinking.
Too often in this country the media hypes their agenda and leads people to believe the best or worst about a politician or public figure, in general.
We need to be able to think for ourselves! Try not to look for an “R” or a “D” following the name of a politician on your preferred news network. Often viewers have their minds made up about a person before they even say one word all because they have been labeled as a Democrat or Republican before they’ve even had a chance to share their thoughts.
Try, instead, to only listen to what’s being said and see if it makes sense to you.
More than likely, your opinions on certain hot topics will not be altered, but who knows… You may agree with someone you otherwise would not and find you still have the ability to surprise yourself!
Learn More Here…
One group you know you can always count on for honest and reliable market suggestions and updates, however, is the group over at Ask the Pros!
That’s why we encourage you to join the latest Ask the Pros roundtable below as this group of market experts dives into their take on, not just today’s economy, but how U.S. and global news in general has a way of leading to those far too familiar market fluctuations that we’ve come to know.
P.S. – Don’t forget to check out market pro Jack Carter’s most recent FREE WEBINAR to discover how this former hedge fund manager is able to harness an incredible market force to consistently pick high-probability stocks every week!