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Harley-Davidson and the Hopes and Dreams of the Working Class

May 23, 2017 By Debbie Young

Harley-ReproductionPresident Trump’s first speech to Congress (and to the American people) Tuesday night was a good speech–clear and plain and sprinkled with rhetorical warmth, writes Peggy Noonan in the WSJ. More important, Ms. Noonan points out, Trump was confident, the way Ronald Reagan was confident–“in his own powers and those of the American people.” Like Reagan, Trump was confident that Americans could “make the right decisions and turn things around.”

President Trump painted America as a country in bleak decline, but he also stressed that our problems are not irreversible. “Everything that is broken in our country can be fixed. Every problem can be solved. . . . The challenges we face as a nation are great. But our people are even greater.”

President Trump told the story of meeting with officials and workers of Harley-Davidson, a company that perhaps best epitomizes the hopes and travails of middle America. (Young Research recommended H-D from the mid 80s to the end of the century. Harley was “Young Research’s Stock of the 90s.”  On an adjusted basis, H-D stock went from $0.33/share in 1986 to $54.31/share in 2001. After almost 25 years and over 120,000 miles of road trips and “Hands-On Research” across America on Harleys–with no major mishaps–Dick and I have shut down our bikes for the last time.)

They (Harley) proudly displayed five of their magnificent motorcycles, made in the USA, on the front lawn of the White House.” He asked them how they were doing. “They told me—without even complaining, because they have been so mistreated for so long that they’ve become used to it—that it’s very hard to do business with other countries, because they tax our goods at such a high rate.” One country, they said, taxed their motorcycles at 100%. “They weren’t even asking for a change. But I am. . . . I am not going to let America and its great companies and workers be taken advantage of any longer.

Speaking about immigration, President Trump began by damning bigotry of all kinds: “We are a country that stands united in condemning hate and evil in all of its very ugly forms.” Continuing, “It is not compassionate but reckless to allow uncontrolled entry from places where proper vetting cannot occur.”

Trump on repealing ObamaCare talked about a “stable transition.” Which, according to PN, seems to mean: “If you now have coverage and previously lacked it, or if you’ve been forced onto a new plan and fear losing it, we’re going to spend the money it takes to protect you.”

“Mr. Trump took a lot of steam out of the Democrats. By the time he movingly lauded the beautiful young widow of a Navy SEAL, the faces of the Democrats on the floor had turned glum and grim. They were sinking in their seats. Politicians know when a politician has scored.”

Read more from Peggy Noonan here.

FULL – President Donald Trump Greets Harley Davidson at the White House HD

Originally posted March 3, 2017.

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Debbie Young
Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, driving her Porsche Boxter S through Vermont and Maine, and practicing yoga.
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