I know that I have not been too receptive for Our Dear Leader but I believe that when credit is due I shall give it…….
Dear Leaders economic predictions are good and this time they were damn close to his…..
It’s not traditional for presidents to comment on economic growth figures before they are released, but President Trump isn’t exactly a stickler for tradition. At a rally at an Illinois steel plant on Thursday, Trump predicted that the numbers released by the Commerce Department on Friday morning would be very good indeed, the Wall Street Journal reports. He said somebody had predicted 5.3% growth, which he didn’t think would happen, but he’d be happy with anything over around 3.7%. “These are unthinkable numbers,” Trump said. “If I would have used these numbers during the campaign, the fake news back there would’ve said he’s exaggerating.”
At a rally in Iowa earlier Thursday, Trump told the crowd that there had been a lot of predictions—”some with a 5 in front of it.” He predicted it would be close, though economists surveyed by the Journal believe a figure of around 4.4% second-quarter growth is more likely. In his Illinois speech, Trump credited his tariffs with boosting the economy and helping the Granite City steel plant reopen, Fox News reports. “After years of shutdowns and cutbacks … workers are back on the job, and we are once again pouring new American steel back into the spine of our country,” he said.
The funniest part of that was the use of “traditionally”…..
But let’s not stop there……there is more good news for Our Dear Leader to use to his advantage…..
The Commerce Department reports that the gross domestic product, the country’s total output of goods and services, posted its best showing since a 4.9% gain in the third quarter of 2014. The Wall Street Journal notes the Q2 2017 GDP was 2.8%. Trump predicts growth will accelerate under his economic policies. But private forecasters cautioned that the April-June pace is unsustainable because it stems from temporary factors. The rest of the year is likely to see good, but slower growth of around 3%. Still, the Journal suspects this strong report will keep the Fed on track to raise its benchmark rate to 2% or 2.25% in September.
The news is good and I hope that it keeps up……we all could use with a bit of good economic news, right?