RUSH: Here’s 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’ve looted ’em. They’ve blown ’em up out there. They’ve broken in, they robbed ’em, done all that. Look at this: Target has just announced the strongest quarterly sales growth ever. Their profits are up 80%.
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’s where the Target Center is. The Democrats have Portland, Oregon, shut down. They’ve got Seattle shut down. They’ve got Chicago shut down. They’ve got these cities dominated by mobs and mob rule.
We’re in a pandemic! We got people out of work. We got people that don’t 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’s 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.
Trump has kept talking about the V-shaped recovery. He’s kept promising it. He’s kept reminding everybody it’s what he’s focused on. The Democrats have not. The Democrats have mocked this kind of recovery, saying it’s 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.
RUSH: This is, I think, fascinating. “Target Strongest Quarterly Sales Growth Ever. Profits up 80%.” Now, the naysayers are gonna say, “Rush, they had nowhere to go but up. I mean, come on. They’re 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.
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’re not giving stuff away. It means that they’re still selling enough items at profit points to earn a profit. You can try to diminish this all you want, but you can’t.
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’ve 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.
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’s across the board, they have not started lowering prices. Some of the cell providers do. But they’re selling iPhones out the wazoo. Mac sales are through the roof during a pandemic. When it’s the last thing that ought to be happening. It’s 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.
But just, to me, it’s two examples of an economic recovery that’s 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’s 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’ve been through countless times.
You know, it’s interesting. The Democrats never said that Obama had a great economy until Trump became president. All during Obama’s term they never talked about the great economy because that’s 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.
We weren’t 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’t sit here and feel happy. And who knows. All of the economic success we’re 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.
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’s no reason to feel like America’s anything special, anything great.
Madeleine Albright, former secretary of state for Clinton, teaches at Georgetown, said there’s 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’s nothing special about it. That’s what she teaches. They don’t even provide much lip service to a strong economy ’cause they really don’t 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.
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’t fit with what the Democrat Party agenda is.
So this news is not gonna make them happy. And they have a tough time even faking it. And they’re talking about when the economy roars back, they’re gonna have to act like they’re happy about it, but you can see when they talk about it their heart’s not in it.