{"id":360870,"date":"2020-08-19T16:11:00","date_gmt":"2020-08-19T20:11:00","guid":{"rendered":"https:\/\/admin.rushlimbaugh.com\/?p=360870"},"modified":"2020-08-20T16:27:09","modified_gmt":"2020-08-20T20:27:09","slug":"the-economy-roars-back-2","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2020\/08\/19\/the-economy-roars-back-2\/","title":{"rendered":"The Economy Roars Back"},"content":{"rendered":"

RUSH: Here\u2019s the great economic news, actually two stories. The first one: Target. Target has been a target, have they not? Target has been a target of the American left. Target is a big-box store that the left has gone after. They\u2019ve looted \u2019em. They\u2019ve blown \u2019em up out there. They\u2019ve broken in, they robbed \u2019em, done all that. Look at this: Target has just announced the strongest quarterly sales growth ever. Their profits are up 80%.<\/p>\n

The Democrats cannot take credit for this because this, to them, is not good news. This is not supposed to be happening. The Democrats have Minnesota shut down. That\u2019s where the Target Center is. The Democrats have Portland, Oregon, shut down. They\u2019ve got Seattle shut down. They\u2019ve got Chicago shut down. They\u2019ve got these cities dominated by mobs and mob rule.<\/p>\n

\"\"<\/p>\n

We\u2019re in a pandemic! We got people out of work. We got people that don\u2019t have any money. How in the heck did this happen? Strongest quarterly sales growth ever. Profits up 80%. Who is the one person talking about making this happen? Donald Trump. He\u2019s the one person, even though his great economy was snapped right out from underneath him with the demanded shutdown of two months of our economy because of the COVID-19 virus.<\/p>\n

Trump has kept talking about the V-shaped recovery. He\u2019s kept promising it. He\u2019s kept reminding everybody it\u2019s what he\u2019s focused on. The Democrats have not. The Democrats have mocked this kind of recovery, saying it\u2019s not realistic. And then Apple has just become the first company with a market cap of $2 trillion, and it happens in the midst of this pandemic.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: This is, I think, fascinating. “Target Strongest Quarterly Sales Growth Ever. Profits up 80%.”<\/a> Now, the naysayers are gonna say, “Rush, they had nowhere to go but up. I mean, come on. They\u2019re coming out of a pandemic. Everything is as low as it can be.” Misses the point. People want to throw cold water on this stuff. The fact is, it happened. The fact is that their sales growth is the most rapid ever.<\/p>\n

That means people are out there engaging in commerce, which is what our economy is. You can call it trickle-down, whatever you want, profits. Profits, the name of the game. It means they\u2019re not giving stuff away. It means that they\u2019re still selling enough items at profit points to earn a profit. You can try to diminish this all you want, but you can\u2019t.<\/p>\n

Now, Apple Computer, the first indication this is gonna happen, their fiscal year is one quarter off from the calendar year. So their Q1 in business starts in the fourth quarter on the calendar. So the Christmas quarter is their fiscal year first quarter. They reported the June quarter, they had a record amount of revenue and a record profit with their stores closed. All these Apple Stores around the world — well, in China they were open, but most of them in Europe, in the United States, most of the Apple stores are closed. No matter, they\u2019ve got the online store. Their sales growth has been such — everybody knows that new phones are coming. New phones are coming in September, October. They may be delayed a little this year.<\/p>\n

So arguably a lot of people would just wait for the new phones. No, need a new phone, go get one now. I mean, it\u2019s across the board, they have not started lowering prices. Some of the cell providers do. But they\u2019re selling iPhones out the wazoo. Mac sales are through the roof during a pandemic. When it\u2019s the last thing that ought to be happening. It\u2019s a testament to many things, the quality of the products and the things that people can do with their devices, and to their marketing and so forth.<\/p>\n

\"\"<\/p>\n

But just, to me, it\u2019s two examples of an economic recovery that\u2019s entirely possible, that one guy has been talking about it. One guy has been urging it on. One guy has been veritably promising that it\u2019s going to happen. An entire political party has been mocking him and making fun of him for it and claiming that he only had a great economy because he inherited the massive growth from Barack Obama. What an absolute crock that is, which we\u2019ve been through countless times.<\/p>\n

You know, it\u2019s interesting. The Democrats never said that Obama had a great economy until Trump became president. All during Obama\u2019s term they never talked about the great economy because that\u2019s not how they viewed it. They really were trying to get everybody ready for an economy that was in decline. They were trying to get everybody ready for an economy that was slowing down. They wanted people to believe that our past was largely illegitimate, including our economic success.<\/p>\n

We weren\u2019t to feel good about it. We were not to feel enthused about it because it was unjust and immoral. Why, this country was built on the backs of slaves. We can\u2019t sit here and feel happy. And who knows. All of the economic success we\u2019re having is built on the backs of somebody. Like Alexandria Ocasio-Cortez last night actually accused America of colonialism. We have never engaged in colonialism. Hell, we were a colony, a series of them at one time.<\/p>\n

They have done everything they can to destroy the image of American greatness and exceptionalism by claiming that our economic strength was built on the backs of others or that we had stolen natural resources from other countries, anything they could come up with that would serve their agenda that there\u2019s no reason to feel like America\u2019s anything special, anything great.<\/p>\n

Madeleine Albright, former secretary of state for Clinton, teaches at Georgetown, said there\u2019s nothing special about the American founding. Just happens to be a coincidence of dates and a bunch of people showing up here at the same time. There\u2019s nothing special about it. That\u2019s what she teaches. They don\u2019t even provide much lip service to a strong economy \u2019cause they really don\u2019t believe it. To them, a strong economy is a threat, folks. To them, the Democrats, the American left, a strong economy is an obstacle to them.<\/p>\n

They want the government to always be seen as the source of happiness, decency, goodness, whatever it is. They want you thinking that you have what you have or you use the opportunities you have because government made it possible. The fact that the economy is roaring means that people are doing well financially. It doesn\u2019t fit with what the Democrat Party agenda is.<\/p>\n

So this news is not gonna make them happy. And they have a tough time even faking it. And they\u2019re talking about when the economy roars back, they\u2019re gonna have to act like they\u2019re happy about it, but you can see when they talk about it their heart\u2019s not in it.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Here\u2019s Tom in Grand Rapids, Michigan, as we head back to the phones. Great to have you with us, sir. Hello.<\/p>\n

CALLER: Hi, Rush. Mega dittos. You were starting the program today about how the economy was coming back and Target\u2019s numbers so forth. Something that I don\u2019t hear a lot of lately — and you\u2019re never gonna hear it on the mainstream media — is how are America\u2019s 401(k)s doing? I\u2019m only gonna use my own personal information and wonder how many other people have this. Back in roughly February-March, my family\u2019s 401(k) stock was at an all-time high, and then the COVID-19 stuff hit. We dropped near 22% of our value.<\/p>\n

RUSH: Yikes!<\/p>\n

\"\"CALLER: As of today, I am back to less than 0.7% down. You don\u2019t hear about all that comeback in 401s.<\/p>\n

RUSH: Well, of course not.<\/p>\n

CALLER: I\u2019m less than 1% down now from my all-time high. It\u2019s just coming back.<\/p>\n

RUSH: Of course you\u2019re not gonna hear it —<\/p>\n

CALLER: Nope.<\/p>\n

RUSH: — and your 401(k) is invested where, among other places?<\/p>\n

CALLER: Stock stocks, bonds, mutual funds.<\/p>\n

RUSH: There you go.<\/p>\n

CALLER: Right.<\/p>\n

RUSH: It\u2019s in the stock market, which has recovered. The stock market has now recovered everything it lost.<\/p>\n

CALLER: Yes, sir.<\/p>\n

RUSH: And your 401(k) has come back right along with it. No, it\u2019s a good point. It\u2019s a good point. You\u2019re not gonna hear about that for precisely this reason. (Give me line 3 next.) You\u2019re not gonna hear about it because the media and the Democrats do not want that kind of news out there. They don\u2019t. Look, the reason they\u2019ve kept New York and Minneapolis and the state of Washington and the state of Oregon shut down is to slow down any economic recovery so they can blame it on Trump.<\/p>\n

Listen to these speeches these people are making! You heard Michelle (My Belle) Obama. They\u2019re blaming this economy on Trump. She\u2019s out there talking about what a great economy her husband left Trump. Now, Trump\u2019s gone out and destroyed it because he didn\u2019t take the China virus seriously enough. It\u2019s a total lie. It\u2019s a gigantic crock. There\u2019s only one guy focusing on bringing the economy back.<\/p>\n

One guy pushing against the headwinds to even reopen the economy, and that was Trump. There\u2019s one guy pushing against the headwinds to get the schools open again. There\u2019s one guy trying to tell college and NFL players, “Please play. Go ahead and play. Our country needs to reopen. Our country needs it,” and yet they\u2019re out there trying to blame Trump for all of this, the economy. So they need economic misery. They need economic slowdowns. They need any news they can manufacture that is not indicative of the economy recovering. And they need that to last for a couple of months now through November.<\/p>\n

Jeff in Fairfax, Virginia, you\u2019re next, sir. Great to have you with us. Hi.<\/p>\n

CALLER: Hey, Rush.<\/p>\n

RUSH: Hi.<\/p>\n

CALLER: An honor to speak with you. I hope you\u2019re feeling well.<\/p>\n

RUSH: Thank you, sir, very much. Appreciate that.<\/p>\n

\"\"CALLER: While I hope for a V-shaped rebound recovery, I fear that it\u2019s gonna basically allow the big box stores and the monopolists to consolidate their position and the middle class entrepreneurs are gonna get kicked to the wayside.<\/p>\n

RUSH: This is a good point. And I wanted your call to be juxtaposed right against the guy who talked about his 401(k) coming back. He is an average guy. He\u2019s got a 401(k). That\u2019s his family investment. And he\u2019s only down .7 tenths of a percent now. So he\u2019s happy. Stock market\u2019s come back. His 401(k) has come back.<\/p>\n

I know exactly what your point is. It\u2019s one thing for the big box stores to come back, the Targets, Apple, Walmart and so forth. But there are a bunch of mom-and-pops who, if we\u2019re not careful, are not gonna recover. Some may never reopen, and some may have been wiped out already.<\/p>\n

And look. That is a valid concern. It was one of the first concerns I had when I started traveling around about two weeks after the first lockdown and I saw boarded-up dreams, essentially, in various cities and along various streets. So your point is it just can\u2019t be a corporate recovery. It\u2019s gotta be economic. It\u2019s gotta be expansive throughout the width and breadth of the economy, is your point, right?<\/p>\n

CALLER: Right. The future has to involve humans. It can\u2019t all be digital. It can\u2019t all be Amazon. And while Amazon employees humans right now in their factories or their warehouses, that soon is gonna go by the wayside as well.<\/p>\n

RUSH: So what would you do?<\/p>\n

CALLER: Well, I think we have to rebuild a backup analog system to what we\u2019re doing. Digital is fine. The rapidity, the speed at which we can conduct transactions digitally is a fine thing, but there has to be some return to a society where we have cash, we have cashiers, we have people that actually do physical work. The digital profits can subsidize that in some way, but —<\/p>\n

RUSH: Well, now, wait a minute, you\u2019re describing problems actually that predated the virus and the shutdown. So your argument\u2019s about much more than that then.<\/p>\n

CALLER: That\u2019s true, but we could put people back to work if we did the right testing, and the right testing would be the antibody testing. We need to find out how many Americans have already beaten COVID-19. We need to stop testing ourselves over and over and over again to see whether we caught it when most of us might have already had it. We\u2019re doing the wrong testing and that\u2019s what\u2019s keeping us out of school, out of work, out of football.<\/p>\n

RUSH: I know what you\u2019re saying, but I don\u2019t think that\u2019s what\u2019s keeping us out of football. I don\u2019t think it\u2019s keeping us out of school. I don\u2019t think the wrong testing is doing it. I think the Democrat Party is keeping us out of school. The Democrat Party. You people gonna have to get it through your heads. The Democrat Party for four years has been trying to overturn the election results of 2016. Everything, even today, is about that.<\/p>\n

\"\"The China virus is about that. The post office thing. There\u2019s always something that pops up. There\u2019s a new crisis or controversy seemingly every week. It is all oriented toward getting rid of Donald Trump. Not opening schools is all about getting rid of Donald Trump. It\u2019s happening because Mueller failed. Everything here, every obstacle, everything that represents an obstacle in the way of the country recovering has been placed there by the Democrat Party and its adjuncts, which would be the Drive-By Media, education, academe, you name it.<\/p>\n

Testing is simply the excuse that they use. I\u2019m not against antibody testing. I\u2019m not against, you know, trying to identify the people who may have developed immunity to it. I think in certain places, in fact, we may even be getting close to herd immunity. And in Florida and a bunch of these states you\u2019re not even hearing about the vast numbers of new cases stories anymore, \u2019cause they\u2019re going down.<\/p>\n

Even with the testing that we are doing, the numbers of new causes are going down. And guess what? All of those numbers of new cases have not equaled an associate or approximate number of deaths.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Target has just announced the strongest quarterly sales growth ever. Their profits are up 80%… And then Apple has just become the first company with a market cap of $2 trillion, and it happens in the midst of this pandemic.<\/p>\n","protected":false},"author":49,"featured_media":360903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[12,1],"tags":[],"yoast_head":"\nThe Economy Roars Back - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2020\/08\/19\/the-economy-roars-back-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"The Economy Roars Back - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Target has just announced the strongest quarterly sales growth ever. 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