Has the Trump Boom started?

Back at the start of May (May 8th, to be precise) I wrote this article about "the coming Trump Booom." I quoted Newt Gingrich's article, which is where I found the title for the article. In his interview, Newt said that "we can buy from India, Japan, South Korea or Vietnam. We dono't need China." China can't survive without our market. We're the biggest market in the world. China and the EU combined are just barely bigger than the U.S. by itself.

During her interview with U.S. Treasury Secretary Scott Bessent, NYPost column writer Miranda Devine wrote "Blue-collar workers have seen real wage growth of almost two percent in the first five months of President Donald Trump’s second term, the largest increase for any administration in nearly 60 years. The 1.7% pay bump is in stark contrast to negative growth under Joe Biden, according to new data from the US Department of the Treasury. Since Richard Nixon in 1969, Trump has been the only president to record positive growth for blue-collar workers in his first five months. He also achieved 1.3% in his first term."

"The only other time it’s been this high was… during President Trump’s first term,” Treasury Secretary Scott Bessent told me on the latest episode of the "Pod Force One" podcast, out Wednesday.

"We’ve seen real wages for hourly workers, non-supervisory workers, rise almost 2% in the first five months. … No president has done that before."

In other words, the Trump Boom has already arrived to Blue-Collar America. Inflation is down. Eal wwage grpowth is up, thanks in part to lower inflation, thanks in part to getting rid of illegal aliens who suppressed American's' wages:

Bessent says wage growth is also fueled by the president’s "emphasis on manufacturing" and commitment to remove illegal migrants from the workforce.

"Biden opened the border, and it was flooded," said Bessent. "And for working Americans, that’s a disaster because it’s pressure on their wages."

FYI:

Every other administration since has seen wage growth fall in comparable periods for blue-collar workers (defined by the Bureau of Labor Statistics as nonsupervisory and production workers).

In other words, President Trump's policies actually build the U.S. economy from the middle ooout and the bottom up. Unlike Biden, it's a policy, not just a catchy-sounding campaign slogan.

This is Ms. Devine's podcast with U.S. Treasury Secretary Bessent:

Roughly 4:20 into the podcast, Devine said "We were told that when Donald Trump upended world trade with all these tariffs that we were going to hwve a recession, that inflation was going to soar; Has that happened?" Bessent replied "Well, Miranda, I Call it T.D.S. and most people think that means Trump Derangement Syndrome but it really means Tariff Derangement Syndrome. I think that a lot of Democrats are in favor of tariffs but now that Pressident Trump is leading the charge, they can't be. And all these predictions have been baseless, a flop, and nobody wants to admit it. The CPI and the PPI were both at 0.1% last month. The Cumulative was the best number since 2020 and the month before was the best number since 2021. We haven't had a recession. As a matter of fact, the economy has beeen quite strong. Household income growth was either 0.7% or 0.8% for April. For 1 month, that's out-of-the-park."

When the One Big Beautiful Bill passes around the 4th of July, that package will serve as the jet fuel for the Trump economic rocketship. Democrats are making it sound like this might not work. That's hogwash.

The Trump Boom is a matter of when, not if. It's time to start trusting President Trump and his team. Bessent is a rock star. Ditto with Kevin Hassett. When President Trump doesn't rehire Jay Powell next May, he'll replace Powell with Kevin Warsh or someone like him. That will mean lower interest rates and microscopic inflation rates. That sounds good to me!