I have been saying that out leader Trump should STU about everything but the economy for he could claim all success there but instead he chooses to go about running that tireless uninformed mouth to everyone’s chagrin.
Well that may not be an option now……seems the economy is slowing down according to some of the latest reports……Trump may well have missed the best opportunity to hawk his economic prowess….
This week, much of the story that the White House likes to tell about its economic record fell apart.
It’s not just that growth appears to have slowed, though it has. On Friday, the Commerce Department reported that the country’s gross domestic product expanded at a middling 2.1 percent annual rate during the the second quarter, down from 3.1 percent over the first three months of 2019. This was only a preliminary estimate, a guesstimate really; the government will gather more data and revise that number in the coming months. But it was clearly worrisome to Donald Trump, who tried in vain to put a glass-half-full spin on the news while also placing blame for any weakness on his nemeses at the Federal Reserve.
But not to worry Trump supporters he will do what he ALWAYS does….make stuff up and lie his ass off.
But for a closer look at the economy……
Economists noted that business capital investment, which has been strong for the past two years, fell at a 0.6% annual rate in the April-June quarter, the first decline in three years. That weakness likely reflects, at least in part, a reluctance by businesses to commit to new projects because of uncertainty surrounding President Trump’s trade war with China. Indeed, most analysts think the US economy could slow through the rest of the year, reflecting both global economic weakness and the trade war between the world’s two largest economies. That is one key reason why the Federal Reserve is widely expected to cut interest rates next week and to signal that it may further ease credit in the months ahead.
It may be too late for the president to use the economy as a political prop….you snooze you lose……
“Lego Ergo Scribo”