Billionaire Trump backer Bill Ackman said on Twitter/X today that he is hearing from leaders across the business community who are overjoyed about Trump’s win in the 2024 election, including people who did not even vote for him.
Trump’s record on the economy and business is obviously one of the main reasons he won reelection. People want the Trump economy back.
A man at Ackman’s level knows all the major players. For him to be saying this is a big deal.
Here’s part of what he says in his post:
The business community is giddy with excitement about the @realDonaldTrump administration. I am hearing this from everyone, including from people who didn’t vote for Trump.
Business confidence is a self-fulfilling prophecy. Business leaders are becoming more confident about the country and the economy. This means they will be making more investments in our future which will drive the economy and the stock market, reducing the cost of capital and bolstering confidence further, catalyzing more investment and more growth in a self-reinforcing, virtuous cycle.
Merger and acquisition activity is about to explode as there are an enormous number of deals that have been deferred pending a more favorable regulatory environment for transactions. M&A will drive efficiency, greater profitability and growth. It will also enable the return of capital to investors who will seek to redeploy their profits and proceeds in new investment opportunities.
The DOGE and deregulation will drive government efficiency and make America a vastly better and lower-risk place to do business efficiently and effectively.
I am also hearing about non-US companies that are desperate to immediately create a presence on U.S. soil. They are frightened to be locked out of the most important economy in the world. They will build factories and make new investments here to avoid the risk of tariffs and because they don’t have a better place to invest capital.
The business community is giddy with excitement about the @realDonaldTrump administration. I am hearing this from everyone, including from people who didn’t vote for Trump.
Business confidence is a self-fulfilling prophecy. Business leaders are becoming more confident about the…
— Bill Ackman (@BillAckman) November 13, 2024
The expectations for the second Trump administration are high.
Breitbart News reports:
The Trumpian Economic Mandate
Trump and the Republicans have a mandate for new economic policy. This includes combatting inflation, cutting taxes on businesses and individuals, encouraging maximum energy production, restoring American manufacturing, protecting America’s borders and restoring democratic control over immigration, and using tariffs to rebalance trade with the rest of the world. These are not separate mandates but threads that must be weaved together carefully. Neglect of any of them could squander this historic opportunity.
Scott Bessent, the founder of Key Square Capital Management and leading contender to be Donald Trump’s Treasury Secretary, has helpfully summarized the agenda as “the Three Threes.” That would be cutting the budget deficit to three percent of gross domestic product by 2028, achieving a three percent pace of economic growth, and producing three million barrels of oil per day.
Trump has said that his election will usher in a golden age for America. People are ready for it.
