00:00Well, thank you very much, Larry.
00:24It's great to be back in beautiful Davos, Switzerland.
00:30And to address so many respected business leaders, so many friends, few enemies, and all of the distinguished guests.
00:41It's a who's who, I will say that.
00:44I've come to this year's World Economic Forum with truly phenomenal news from America.
00:50Yesterday marked the one-year anniversary of my inauguration.
00:54And today, after 12 months back in the White House, our economy is booming, growth is exploding, productivity is surging, investment is soaring, incomes are rising.
01:08Inflation has been defeated, our previously open and dangerous border is closed and virtually impenetrable.
01:19And the United States is in the midst of the fastest and most dramatic economic turnaround in our country's history.
01:28Under the Biden administration, America was plagued by the nightmare of stagflation, meaning low growth and high inflation, a recipe for misery, failure, and decline.
01:40But now, after just one year of my policies, we are witnessing the exact opposite, virtually no inflation and extraordinarily high economic growth, growth like, I believe, you'll see very shortly, a country has never seen before, perhaps no country has ever seen before.
02:02Over the past three months, core inflation has been just 1.6%.
02:08Meanwhile, fourth quarter growth is projected to be 5.4%, far greater than anybody other than myself and a few others had predicted.
02:18Since the election, the stock market has set 52 all-time high records, so that's in one year, 52 records, adding $9 trillion in value to retirement accounts, 401ks, and people's savings.
02:36People are doing very well.
02:38They're very happy with me.
02:39Since my inauguration, we've lifted more than 1.2 million people off of food stamps, and after four years, in which Biden secured less than $1 trillion of new investment in our country, think of that $1 trillion, substantially less than that, in four years, we've secured commitments for a record-breaking $18 trillion, and we think when the final numbers come out, they'll be closer to $20 trillion of investment.
03:07That's never been done by any country at any time, not even close.
03:13Just over one year ago, under the radical-left Democrats, we were a dead country.
03:19Now we are the hottest country anywhere in the world.
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