Trump’s New American Industrialism

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So Donald Trump’s new American industrialism. Yesterday I spent a great deal of time. He does like his long speeches. It’s almost like you’re panning. know, the miners panning for gold there, you know, looking for something. So I was panning for gold in Donald Trump’s speech yesterday and I found some. I found some. And again, this is my…

in my opinion, the problem with his long speeches is he just gets to the damn point, OK. You know, if you can say something in a sentence or two, do it. know, you don’t have to give us a chapter. But anyway, neither here nor there. Trump’s new American industrialism. Now, this past week, we had some numbers come down the pike when it comes to manufacturing.

and this ISM manufacturing, the purchasing managers for manufacturing index has been in contraction with numbers here since 2022, since the fall of 2022. basically you’re looking at almost all manufacturing jobs under Biden and Harris were basically bounce backs. Trump obviously he pointed that out in a speech yesterday.

I also take a look at the jobs and the hours that were worked. That’s declined as well since the fall of 2022. Real average wages, what are we, 2 .7 % lower than in January of 20 and 21. And this is including all of the.

All of the nonsense, all of the government subsidies, all of the handouts, all of the new green deal, all the chips crap that has been shoved down our throat. What you would think with all of this money, all the stimulus, why wouldn’t the manufacturing sector be booming? Well, certain areas of our economy have been thwarted by nonsensical.

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Climate regulations, again, you get the various different acronym agencies within the executive branch of government, in particular the EPA, and all of this CO2 nonsense and crap that basically holds a myriad of industries down. Take a look at the paper, steel, iron, glass, cement, chemicals. again, I made it perfectly clear here.

conservative means conserve. I’m very much, I’m a proud environmentalist. However, okay, I want to focus on protecting

habitats, not polluting the overall environment. Let give you an example, okay, like General Electric dumping PCBs into the Hudson River. This whole climate change thing, quite frankly, has been a distraction. I don’t want any company, any corporation polluting. I want a small footprint as possible when it comes to plants. I get all of that. That’s important. But the things that the EPA has been doing, quite frankly, in my opinion, haven’t

done much at all, quite frankly, except hurt business. I got some quotes here from Donald Trump yesterday. He said, so as your president, here is a deal that I will be offering to every major company and manufacturer on Earth. I will give you the lowest taxes, the lowest energy costs, the lowest regulatory burden, and free access to the best and biggest market on the planet, but only if you make your product here in America. Now again.

I don’t have any problem with it. I think it’s great. I’ve been talking about this. I like this type of conversation. I like this type of talk. I want to be the most competitive economy in the entire world. I wrote a column about this when George W. Bush was president. This is where he wanted to start handing out Bush checks back in 2008 before he left office. And at that point in time, I think we were ranked 15th in the world as far as economic freedom.

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And I said, what’s the United States of America? We need to be number one. That’s why you attract businesses here to the United States. This is a step in the right direction. Now, Trump is calling this what his new American industrialism. And he went off on rants and we’re gonna make more of this and we’re gonna make more, you know, the usual Trump, you know, type of talk. More this, more robots, more airplanes, you name it.

He said the centerpiece of his plan, okay, is a manufacturing Renaissance Which will be a 15 % made in America tax rate Again, I understand what he’s saying however However, we’ve talked about this before here on the program. It’s not difficult to game the system on this for example

If you are a company that is, let’s say you’re assembling, say you’re assembling, I don’t know, lawnmowers here in the United States, you could say that you deserve that 15 % tax rate, but you get all of your parts made from foreign sources and they’re brought here. There’s various different ways that companies can game the system on this. I don’t know how they’re going to go about getting around it.

Again, wants to get the corporate tax rate down to 15%. That would make us very competitive with the rest of the globe. What else did he say here? 100 % expensing write -off for heavy machinery and other equipment in the first year. Again, why just manufacturing? I don’t.

get this. I don’t like this part. There’s parts of this and I like the parts of some like you’re picking and choosing. And I don’t like picking and choosing. And I’ll go back to the Declaration of Independence. All men are created equal. No, we’re not all equal. We’re equal under the law. We’re equal under the law. And what the Federal Registry and what the tax code do is basically take the Constitution and flush it down the toilet. Why manufacturing?

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Why do we need an industrial policy, quite frankly? Okay, we don’t. We don’t. want to be the most attractive place to do business on the planet. And that’s all well and good. Some of these things will get us there. But quite frankly, you you’re going to, you know, expense writing off for heavy machinery for manufacturing companies. What about what about allowing, I don’t know, a restaurant owner to fully expense a stove or a new refrigerator?

Or I mentioned I said lawnmowers. Well, what about a guy who owns a landscaping business and he wants to go out and buy new lawnmowers and, you know, leaf blowers and all that good stuff? Why shouldn’t they be able to fully expense what they’re doing? Or, you know what? I’m going to throw my hat in the ring here. Why am I not allowed to fully expense a purchase that I want to make? I want to…

I want to purchase another advisory because a guy is looking to retire. Why shouldn’t I be able to expense that fully? Again, I don’t like the picking and choosing of winners and losers. He also went on to talk about, again, deregulation, eliminating 10 regulations for every new one. Again, I think that he might be able to sell this to more people, quite frankly, if he talked about, again, habitat protection.

And again, we want to do things cleaner and better than anyone else here. We’re getting away from the ridiculous CO2 stuff as we speak. This new American industrialism. I like some of it. I do. I’m being honest. There’s some good in this. But again, he’s got to get away from trying to, again, micromanage the overall economy. If it’s good for the manufacturing sector, it’s good for other sectors in the economy as well. Watchdog on wallstreet .com.