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2017-11-05 Economy
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Don Surber: Trump's economic hurricane
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The economy grew by 3 percent in the third quarter -- July, August and September -- despite three Category 5 hurricanes devastating Houston, Florida, and Puerto Rico.
Economists expected 2.5 percent growth.
President Trump delivered what he promised -- and better than expected. It's what he does. He beats expectations. That's why he is a billionaire and Jeff Flake is not.
From CNBC:
The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction.
Gross domestic product increased at a 3.0 percent annual rate in the July-September period after expanding at a 3.1 percent pace in the second quarter, the Commerce Department said on Friday.
The department said while it was impossible to estimate the overall impact of hurricanes Harvey and Irma on third-quarter GDP, preliminary estimates showed that the back-to-back storms had caused losses of $121.0 billion in privately owned fixed assets and $10.4 billion in government-owned fixed assets.
Under Obama, these stories used the word unexpectedly because the results were worse than expected.
That's because Obama did not know what he was doing.
Trump does.
Rolling back 1,000 regulations, approving two pipelines, renegotiating trade deals, and appointing competent businessmen instead of political hacks to the Cabinet not only have a long term effect, but are goosing the economy in the present as well.
From CNBC:
Businesses accumulated inventories at a $35.8 billion pace in the third quarter in anticipation of strong demand. As a result, inventory investment contributed 0.73 percentage point to third-quarter GDP growth, after adding just over a tenth of a percentage point to growth in the prior period.
Businesses stock up when they think business will expand.
They sell off stock when they expect sales to fall.
Under Obama, most businesses sold down their inventory.
I just checked my 401-k. Ot's ip 19.49% since we elected Trump president. I am fully invested in Jack Bogle's Standard and Poor 500 index fund. It's a nice safe investment for us poor old retirees that is worth looking into at any age.
Mark Zandi, the chief economist of Moody’s Analytics, who throughout last year's campaign predicted gloom, despair, agony, deep dark depression and excessive misery if we elected Trump, told the New York Times today: “There are no real headwinds to growth for the first time since the expansion began. We are at full employment and we are in full swing, let the good times roll.”
We made the right call last November. 
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Posted by badanov 2017-11-05 00:00||
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Posted by Besoeker 2017-11-05 03:38||
2017-11-05 03:38||
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Posted by Warthog 2017-11-05 09:25||
2017-11-05 09:25||
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