An early report from the Wall Street Journal showed the United States economy enjoyed a robust holiday season; with new figures showing retail sales and online purchases up from the same period last year.
“Consumers in the U.S. spent more than $850 billion this season between online and in-store purchases,” writes the Hill. “That included a 19.1 percent increase in sales from online shopping and a 47 percent jump in sales in which consumers completed the purchase online and then picked up the item in-store.”
The healthy sales figures come as the US stock market continued to drop during the 2018 holiday season; sparking new fears of a major market correction heading into 2019.
“While we haven’t seen the consumer retreat, I do think there is a heightened risk with volatility in the capital markets and rising interest rates and uncertainty in Washington, D.C.,” said one industry insider. “Retailers are a bit on edge about what 2019 might be.”
Read the full report at the Hill.
AMERICA FIRST: The President Labels Himself ‘TARIFF MAN,’ Warns Those Seeking to ‘Raid our Nation’
President Trump doubled-down on his widespread use of trade tariffs to improve the US economy and the American manufacturing base Tuesday, saying he is a “tariff man” after reaching a 90-day “truce” with China.
“I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN,” tweeted the Commander-in-Chief.
….I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN
— Donald J. Trump (@realDonaldTrump) December 4, 2018
“But if a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign. Let the negotiations begin. MAKE AMERICA GREAT AGAIN!” he added.
GREAT AGAIN: $300 Billion ‘FLOWING BACK’ to US after GOP Tax Cuts
Billions of dollars of American currency formerly overseas is now flowing back into the United States following the GOP-sponsored tax cuts, according to Fox Business and new statistics released this week.
The data shows over $300 billion was repatriated back to the United States in the first quarter of 2018; beginning just weeks after the President signed the sweeping overhaul of the nation’s outdated tax code into law.
“The [Bureau of Economic Analysis] notes the main driver of the repatriation surge is that companies are no longer taxed on foreign earnings when returning the funds to the U.S,” writes Fox.
“U.S. firms that used to build their factories overseas in order to avoid U.S. taxes, they stopped in their tracks because of the tax bill, they are bringing all the money home,” said Kevin Hassett, chair of the president’s Council of Economic Advisers.
Read the full story at Fox Business.