If you are wondering why the Fake News/Lying Left are NOT TALKING ABOUT THE CURRENT STATE OF THE US ECONOMY..:
The US continues to BOOM...as the tariffs are severely damaging China's economy, new , beneficial trade deals are set or in the works, with Japan, the UK, etc...and the Dems KEEP PRAYING FOR US ECONOMIC CATASTROPHE in the US.
Democrats COULDN'T CARE LESS ABOUT THE AMERICAN PEOPLE, as they CLAMOR FOR, and EVEN TRY TO FOMENT, ECONOMIC WOES in the US, FOR POLITICAL GAIN....SICKENING....
US economy is going strong – Bad news for Dems, good news for Trump and America
It’s been just a couple of weeks since the so-called experts were warning of an imminent recession citing the much-hyped “yield curve inversion” as if it were a crystal ball for predicting our economic future. It isn’t.
In fact, the U.S. economy continues to exceed expectations as consumers remain as confident as ever. Could it be that the growing chorus of progressives cheering for an economic downturn is more focused on defeating President Trump in 2020 than on economic reality today? Clearly, that is the case.
The generally accepted definition of a recession is two consecutive quarters of negative economic growth. So far this year, our gross domestic product (GDP) grew at 3.1 percent in the first quarter and 2 percent in the second, for an average of about 2.6 percent year to date – nowhere near negative territory.
For the third quarter, which ends Sept. 30, the Federal Reserve Bank of Atlanta has a GDP forecasting model called GDPNow.
On Aug. 14 – the day the yield curve inverted and stocks plunged – the third-quarter forecast stood at 1.8 percent. On Friday, it stood at 2 percent.
That’s right, despite all the recession hubbub, an independent nonpartisan estimate for third-quarter economic growth has improved by over 10 percent in just the last two weeks.
As new data come in, the GDPNow forecast varies over the quarter. I expect that the final number for the third quarter of this year will be higher than GDPNow is forecasting.
First, GDPNow’s final estimates so far this year have been decidedly on the conservative side (2.7 percent for the first quarter and 1.3 percent for the second quarter). Second, the prospects for continued strength in consumer spending – which drives our economic engine – are strong.
The threat that Democrats face is that voters will remember how President Trump spent every day in office fighting to grow our economy, successfully increasing their job opportunities and earnings, while his opponents were rooting for an economic collapse.
Last year consumer spending accounted for 68 percent of GDP. As a result, how consumers feel about the economy matters. And buoyed by a very healthy jobs market and accelerating wage growth, they’re feeling pretty darn good.
The Commerce Department announced Friday that consumer spending in July surged – up a strong 0.6 percent – indicating that American shoppers are continuing to drive the economy forward. It shouldn’t come as a surprise.
The Conference Board, a business research organization, released its highly regarded monthly Consumer Confidence Index on Tuesday. The August index found that Americans’ assessment of current economic conditions had climbed to its “highest level” since November of 2000. The share of Americans “who say jobs are currently plentiful jumped to 51.2%, the highest since September 2000.”
As stated by Lynn Franco, the Conference Board’s senior director of economic indicators, despite the doom and gloom headlines about our economic future, “consumers have remained confident and willing to spend.”
https://www.foxnews.com/opinion/andy...doom-and-gloom
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