Remember when people were shouting warnings. They told us this growth couldn’t possibly continue on an upward trajectory.
Like everything else Donald Trump touches, our economy is golden.
In fact, the numbers were just finalized, and the economy exceeded growth expectation over the summer.
As Breitbart explains:
Gross domestic product grew at a 2.1 percent annual rate for the third quarter, the Commerce Department said yesterday in its second estimate of economic growth. That is a substantial boost from the 1.9 percent in the earlier estimate.
While businesses pulled back on investment in the summer, likely because of fears of sluggish global growth and uncertainty over the direction of trade and monetary policies, consumers remained confident and spending high, thanks to rising wages and extremely low unemployment.
The year started out with a surge of growth after the Federal Reserve abandoned plans to raise rates several more times this year. The pace of growth slowed to 2 percent in the spring. The initial estimate for the July through September third-quarter period indicated the economy continued to cool but Wednesday’s data showed a slight acceleration during the period.
Once again, the stock market broke records Tuesday. What do analysts credit with this latest rise? Trump’s trade talks with China. With a potential deal in the pipeline, there is likely a lot more rise left to extract from the negotiations. Other big performers include Disney- as they’re seeing a million new sign-ups every single day for their streaming service. Best Buy and Burlington also posted stellar numbers.
According to Market Watch:
The Dow Jones Industrial Average DJIA, +0.03% rose 55.21 points, or 0.2% to 28,121.68, while the S&P 500 index SPX, +0.27% rose 6.88 points, or 0.2% to 3,140.52 The Nasdaq Composite Index COMP, +0.53% gained 15.44 points, or 0.2%, to close at 8,647.93. Volumes were expected to remain subdued ahead of Thursday’s Thanksgiving Day holiday, which will see U.S. markets closed, followed by an abbreviated trading session on Friday.
Tuesday’s action marked the 10th record close of the month for all three major indexes.
And it’s all good news for consumers. Low inflation is keeping interest rates at bay. Those lower rates helped spark many new home purchases. It’s the longest economic expansion on record. And as Donald Trump pointed out as, we’re getting wealthier! Poverty is failing, especially among African-Americans. Unemployment is at a fifty year low. And people have so much faith in our country, they’re willing to spend money again.
Democrats repeatedly claim Trump economics don’t jive. They said we couldn’t grow quarter after quarter. But that was a lie. Then they said we couldn’t create such low unemployment rates. That, too, was a lie. But when Trump repeatedly blasted past democrat predictions, they changed their tune. Instead, the story now is that Trump is benefiting from Obama’s hard work.
But I have to disagree. If Obama did all these great things for the economy, why didn’t I feel it in 2010? 2012? 2014? I didn’t even notice a nudge of hope. Did you?
However, I can plainly see Trump’s policies at work. I feel the relief in my own pocketbook. And that’s where I evaluate who’s telling the truth and who’s telling a lie. So if you’re better off than you were three years ago, you know who to thank.
As Donald Trump put it at his Florida rally:
“We are going to keep on working, we are going to keep on fighting and we are going to keep on winning, winning, winning. We are one move, one people, one family and one glorious nation, under God. Our beautiful America is thriving like never before and, ladies and gentlemen, the best is yet to come. Together, we will together make America wealthy again. That’s happening. We will make America strong again. That’s happened. We will make America proud again. That’s happening and has happened. We will make America safe again, and we will make America great again.”