US Economy is Dragging it’s Feet Since Trump was Elected President

Posted on May 2nd, 2017 in Politics by Robert Miller

In an article published in New York Times, a few days ago, a special story on the slow growth of the economy beginning in January of this year; you can read this story HERE. Right now the growth rate of the U.S. economy stands at 0.7 %, the slowest growth rate for nearly three¬†years. Since 70% of our growth rate is attributed to consumer spending, the slow growth rate reported by the Commerce Department, can be attributed to the lack of confidence in the Trump administration or in Trump himself. Because this took place earlier this year, there is little chance we can attribute this sudden downturn in the economy to Obama; it must therefore be attributed to the Trump administration. In President Obama’s last three months in office the G.D.P. grew at 2.5%. ¬†Naturally, the Trump people want to blame the sudden down turn to the Obama administration, but that rings hollow because it suddenly happened in January of this year. Meanwhile the stock market continues to surge, up 11% since the election took place (Trump insists that the downturn occurred in the last quarter, but the facts say otherwise).

Of course, we know by now now that Trump lives in his own reality, and the truth has no chance of penetrating his very thick skull, if even for a microsecond. He lives in his own world and he is awash with alternate facts. But we are not allowed in that world because most of us have to stick to the facts as we see them. No Chance for alternate facts in our world.

The article goes on to suggest that the Fed may look at these numbers and balk at raising the interest rates any time soon

RFM

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