The American economy is defying all odds.
Wall Street had predicted growth would begin to slow, but Trump’s record-breaking economy has produced a GDP that has increased by 2.1 percent.
Beating the Odds
Most economists believed moves by the Federal Reserve would send the GDP tumbling. Best estimates from Wall Street predicted a 2.0 percent growth during the quarter.
While our second quarter was not as strong as the first, which saw a 3.1 percent increase, it is still very healthy indeed.
The chief investment strategist at State Street Global Advisors said, “The recession talk was always overstated. Those that were doing the Chicken Little, the sky is falling, we’re headed for recession talk were clearly early in that assessment.”
“The economic data continue to suggest that the economy isn’t near recession, at least in the next year or so.”
President Trump also believes the economy’s immediate future has tremendous potential…
Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. USA is set to Zoom!
— Donald J. Trump (@realDonaldTrump) July 26, 2019
Economy Tied to Trump
The general consensus is that the GDP is growing because people have more money in their pockets to spend.
This is mostly due the tax cuts put in play by the GOP and President Trump. There has also been significant investor confidence in this administration.
That confidence is likely to continue as long as Trump stays in office. If Trump is defeated in 2020, the markets will surely respond in kind.
Democrats have made it quite clear taxes are going to rise and many of the regulations Trump has shredded will be put back in place if they seize control.
If people want to see the economy crash, all they need to do is elect a Democrat come Election Day 2020. Do that, and the crash of 2008 will look like an economic boom.