TKC 1101, you were right. You have been consistently correct on the American economy. I have enjoyed your anecdotal approach to the underlying economy, the bottom-up view that told us that President Trump was on the right track to put America back to work and make America great again. The gang of smart people at BallDiamondBall are similarly vindicated.
You are going to enjoy this article, even though you have to go to National Review to read it. Deroy Murdoch has a great article up, titled “Obama Didn’t Build That.” D. Murdoch uses a few good illustrations to completely dismantle Obama’s efforts to take credit for the Trump economy.
Murdoch’s illustrations come from a White House press conference that was held on September 10. Sarah H. Sanders hosted while Kevin Hassett spoke. K. Hassett is the Chairman of the White House Council of Economic Advisers. I will provide links in the comments.
The Trump economy rocks.
I had a good laugh listening to NPR’s “Marketplace” coverage of the stock market highs. They tried to look past all those bright thick silver linings to find little patches of dark cloud that they could focus on. Other NPR shows have been very similar for many months. They try so earnestly to let us know that most of the news is bad if you just know where to look. They have to look really hard, and they can generally find some metrics that are not much different than they were under Obamanomics. I enjoy the transparency of their frustration. But “Marketplace” had me howling as they explained that other markets are down while ours is up, tried to brush it off, and then admitted that they are perplexed that, considering the international trade war, global investors are betting on Trump and America.
Here is an excerpt from the Politico, who seem to be cheering for a “Blue Wave” in November:
Hassett denied his appearance was prompted by a Friday speech in which Obama said, “When you hear how great the economy’s doing right now, let’s just remember when this recovery started.” The current economic expansion began in mid-2009, six months into Obama’s first term.
Trump replied shortly afterward at an appearance in Fargo, N.D.: “He was trying to take credit for this incredible thing that’s happening. … It wasn’t him.”
The dispute goes to the heart of Trump’s arguments this fall. Facing ugly projections for a GOP rout, the president is trying to persuade voters to stick with Republicans by arguing they’ve delivered an economic turnaround. But many major gauges on economic growth and job growth were just as strong during parts of the Obama years, even without Trump‘s deregulation and deficit-boosting tax cuts.
“One of the hypotheses that’s been floating around,” Hassett said in the briefing, “is that the strong economy that we’re seeing is just a continuation of recent trends.” But “economic historians will 100 percent accept the fact that there was an inflection at the election of Donald Trump, and that a whole bunch of data items started heading north.”
TKC 1101 has been bringing us an occasional cheery message from his experiences as a business consultant. He anticipated the trend, spotted early signs, and has kept us posted with updates. I really enjoy those posts. Thank you for the encouragement.
My own experience is in a sector that lags the general economy. The vibe has been positive for months, and it is beginning to show up in terms of real work.
Go, Trump, go !