The Trump trade on Wall Street is predicting a blue collar boom for the economy, and Bitcoin crypto investors are predicting a new currency to finance it. 

Since election night, the Dow Jones is up more than 2,000 points — including more than 500 points earlier Thursday. In fact, the 1,500-point Dow rise on the day after the election was the single largest daily gain in history.

The rally is not just about Nvidia and the big tech stocks. It spread to banks, industrials like Caterpillar, and small caps in the Russell 2000.

Also, let’s not forget that the Trump trade includes the spectacular rally in Bitcoin, which has gone up 43 percent — or $30,000 — since the election November 5. 

President-elect Trump has styled himself a cryptocurrency aficionado. As reported by Charlie Gasparino and others, he’s even talking about a crypto tsar in the White House. Widespread use of cryptocurrency will provide competition for the excess money created by the Federal Reserve. 

It’s very much like Nobelist Friedrich Hayek’s idea of competing currencies. The Fed hates this. So it must be a good thing. 

The Trump trade is also a good bet that he will keep his promises to produce vastly more energy, especially liquid gold, along with Trump tax cuts 2.0, widespread deregulation, budget cuts from Elon Musk and Vivek Ramaswamy, and a sound King Dollar. 

And, yes, he will protect American business from unfair trading practices by using tariffs as a crucial negotiating tool. It could very well be a new golden era for the economy and the nation as a whole. 

Hopefully, the tax cut package will be the very first order of business on the legislative calendar. In order to cement his expanding coalition of working folks of all races and ethnicities, Trump must quickly restore take-home pay. 

Real median wages adjusted for inflation fell during the Biden years. And, along with spiking prices, that sunk Vice President Harris in the election.

Hopefully, lower energy prices will keep inflation low while tax and regulatory reductions will boost business, jobs, profits, and blue-collar pay. Putting tax cuts first is going to be very important. 

And then, side by side with tax cuts, comes the regulatory revolution led by Messrs. Musk and Ramaswamy. Using recent Supreme Court decisions — and working with the White House Office of Management and Budget — their Department of Government Efficiency will chop down federal regulations, chop down the size of the federal bureaucracy, chop down the bloated federal budget, and chop down a lot of money that’s been authorized but never spent.

You only need 51 votes in the Senate to rescind certain types of spending and any number of regulations, as Senator Paul reminded us on the show last night.

The Trump trade and the blue-collar boom: I’d call all that pure gold. 

From Mr. Kudlow’s broadcast on Fox Business News.