It’s the "economy, stupid". And right now, the Trump economy is blasting off.

But business types here disagree. And they give a lot of credit to Trump for the renewed strength and vigor they sense in the sinews of the global economy.

Deregulation is the first thing they mention. The cost of doing business has come down fast. That means margins will go up. That’s why so many investors see American companies as such good bets.

And that’s all Trump.

The tax cut is also—no surprise—hugely popular here. It seems the old US corporate tax structure was operating as a kind of logjam in the world economy, freezing up the flow of money and distorting investment decisions.

The dam broke. Trump broke it.