“2024 in Review: Trump Triumphs, Economy Soars, and A.I. Boom Continues – 10 Charts That Define the Year”
In the year 2024, several significant events shaped the political, economic, and social landscape of the United States and the world. From Donald Trump’s triumph in the presidential election to the emergence of a tech billionaire as a shadow president, the year was marked by notable developments. Here are 10 charts that illustrate the key events of 2024:
1. America Steps Right:
Despite winning the popular vote by a narrow margin, Donald Trump’s victory in the election was decisive and widespread. He carried every state considered to be in play, including traditionally Democratic strongholds like Wisconsin, Michigan, and Pennsylvania. Low turnout among Democrats and Trump’s appeal to Latino, Black, and younger voters contributed to his success.
2. An Expensive Campaign Season:
Vice President Kamala Harris’s loss in the election was not due to a lack of resources. The Democrats outspent their Republican counterparts, with Harris attracting support from both small donors and large contributors. However, Trump fared better among PACs supporting single candidates, thanks to defections from tech executives over regulatory issues.
3. A Strong Economy (According to Data):
The economy performed well in 2024, with inflation moderating, robust growth, and record highs in the stock market. Despite challenges like inflation, the economy under President Biden matched the performance under Trump. The Federal Reserve’s decision to reduce projected interest rate cuts reflected a mix of positive and negative economic indicators.
4. Manufacturing Investment Surged:
Corporate investments, especially in manufacturing facilities, saw a significant increase in 2024. Legislation like the Inflation Reduction Act and the CHIPS and Science Act stimulated investments in climate-friendly energy projects and semiconductor production. Investments in technology and artificial intelligence also rose, signaling future economic growth.
5. Elon Musk Had a Great Year:
Tech billionaire Elon Musk emerged as a prominent figure in the political landscape, aligning himself with Trump and benefiting from his presidency. Musk’s companies, Tesla and SpaceX, saw substantial increases in stock value, leading to a significant rise in his net worth. His political donations and support for Republicans solidified his position as the world’s richest person.
6. Border Encounters Dropped:
After a surge in border encounters early in Biden’s presidency, the numbers dropped significantly by the fall of 2024. Despite initial concerns, the total number of encounters returned to levels seen four years earlier, highlighting efforts to address border security issues.
7. A Global Desire for Change:
Anti-incumbency sentiments were prevalent not only in the United States but also in other G20 countries that held elections in 2024. The desire for change led to shifts in power in several countries, with voters expressing discontent with incumbent parties.
8. Global Temperatures Remain High:
Average global temperatures continued to rise in 2024, with weather patterns becoming increasingly erratic. The year saw temperature increases compared to previous records, underscoring the urgent need for climate action.
9. The A.I. Boom Continues:
Artificial intelligence saw rapid growth and adoption in 2024, with companies like Nvidia, Meta, Alphabet, and Amazon leading the way. A.I. technologies like ChatGPT showed promise in various applications, signaling a transformative impact on society.
10. Death From Armed Conflict Slows:
Despite ongoing conflicts in regions like Ukraine, Gaza, Sudan, and Mexico, global death tolls from armed conflict decreased for the second consecutive year. The unexpected collapse of Syria’s regime offered hope for an end to violence in the region.
Overall, 2024 was a year of significant change and challenges, with political shifts, economic growth, technological advancements, and ongoing concerns about climate change and global security shaping the year’s events.