The Trump effect produced yet another surprise to mainstream media analysts: the US Economy is doing great, beating forecasts once again. According to the U.S. Economic Surprise Index, which is a tool widely used by banks and analysts alike for determining how economic data matches up to expectations, well, the respective index has risen in recent weeks, surpassing its peak reached back in April 2017, due to a number of readings of the US economy which proved to be better than expected, especially with regard to the 3rd quarter GDP growth and the overall manufacturing activity in the US.
The general recovery of global economy also helped with the index, together with economic analysts’ dire predictions from the middle of the year which proved to be too pessimistic after all.
Also, the Consumer Confidence index hit its highest level in 17 years, to 125,9 in October according to to the Conference Board; the huge surge in confidence comes at a time when the US market share prices also hit record highs. Stock prices have been lifted by a surge in corporate earnings and the strong economic growth, not to mention investors’ increasing expectations of Trump’s promised tax-reform. The POTUS’s goal of three percent growth has been achieved in 2 of the 3 quarters since he entered the White House, and the trend seems to be positive for the near future.
Finally, according to data from S&P CoreLogic Case-Shiller, the U.S. National Home Price NSA Index rose 6.8 percent in August, which means Home prices have reached new all-time highs.
No massive “stimulus Package” required like The Savior from Honolulu did as a payoff for union support during the campaign. No new government programs required. No “blue ribbon commissions” need be impaneled to “study” the economy on our dime.
Just basic business and economic sense need be applied. In that department, the Big Guy in the White House is qualified. These are reelection numbers – what the economy is showing. The trick is a master’s hand to keep it going.
This reminds me of the joke of two walkers seeing a bear in the woods. While one walker puts on his running shoes, the other walker says, “What’s the use? You can’t outrun a bear.” To which he replied, “I only need to outrun you.”
Likewise, folks watching mainstream media, the likes of CNN, MSNBC, and CNBC, are missing the bull market of a lifetime. Meanwhile, those paying attention are doing better than ever.
Quick, impeach the President before people can afford to send their children to college and retire in comfort!