It is looking frighteningly like he could:
Every day, legions of economists dismiss Donald Trump’s economic agenda and forecast of 3 percent growth as a wild-eyed fantasy. The consensus is that the economy “can’t possibly grow at 3 percent,” according to The Wall Street Journal. “Slow growth is the new norm, so get used to it,” wrote Rucir Sharma, chief global strategist at Morgan Stanley, in Foreign Affairs magazine this month…
Amazingly, every Obama budget forecast that annual growth would reach 3.5 to 4.5 percent. Bullish growth was just around the corner. (Remember Joe Biden’s “Recovery Summer” tour?) Consider how these bullish forecasts squared with reality…
We never got growth above 3 percent under Obama, and the average growth was 2 percent, ending at 1.6 percent…
Another fallacy is that this long recovery means the economy is due for a recession. No. For much of America this has been a long recession, not a long recovery. We are suffering from a severe growth deficit. The economy is $3 trillion behind where it should be because of the shallow recovery. It’s teed up for a boom, not a bust.
How do we ignite that boom? Nearly every policy during the Obama years was anti-growth: tax increases; minimum-wage hikes; Obamacare; Dodd-Frank regulations; massive debt spending; the Paris climate change accord; an EPA assault against American energy; massive expansions of food-stamps programs and more. If Trump is able to shift those policies into reverse — especially by getting tax rates down, not up — then 3 to 4 percent growth is easily achievable, and the economics profession will be proven dead wrong again.
Then there is the low volatility now:
As Wall Street’s ‘fear gauge’ nears all-time lows, one commonly used measure shows Asian equities near their least volatile this century. The calm that has descended on U.S. financial markets is stretching around the world.
Based on one commonly used measure, Asian equities are near their least volatile this century—a byproduct of improving corporate earnings, stabilizing economic growth and the diminishing impact of geopolitical events on markets.
In the U.S., Wall Street’s “fear gauge” is near all-time lows, and in Europe, volatility has also largely subsided.
Trump will undoubtedly boost confidence, just as a rebound effect from the anti-business policies of Obama which have unnaturally suppressed things. But he still has one problem. Governments are still running dry:
Comptroller Susana Mendoza is warning that new court orders in lawsuits filed by state suppliers that are owed money mean her office is required to pay out more than Illinois receives in revenue each month. That means there would be no money left for so-called “discretionary” spending — a category that in Illinois includes school buses, domestic violence shelters and some ambulance services.
“I don’t know what part of ‘We are in massive crisis mode’ the General Assembly and the governor don’t understand. This is not a false alarm,” said Mendoza, a Chicago Democrat. “The magic tricks run out after a while, and that’s where we’re at.”
My suspicion is the entire media machine is controlled by the elites much more than any of us would believe. I believe the talking heads are not entirely independent people who are striving to be professional and rich while serving their own interests. I suspect they are even promoted based upon their malleability to the elite’s agendas. I believe when the chips are down, the elites can put words in their mouth, and they will say what they are told.
For that reason, when the ultimate Apocalypse is upon us I suspect in the run up we will be told that there is no volatility, that it is a buyer’s market, and that all we will see for the foreseeable future is limitless growth. That will be everywhere, and everyone will agree.
For now, we will see growth just as Obama’s failures are reversed. But if the machine decides to crash things to take out President Trump before the next election, listen closely for similar talk. When you hear that in two or three years, prepare, because the elites may be squeezing the last little bit they can from the rubes and the tools before they let it all come down.
For now it is a race, to see if Trump can light the fire before the elites and put it out.
[…] Can Donald Trump Avert The Apocalypse? […]
Trump is a white mans Sharpton and just like Sharpton he cannot be replaced. They both never released their tax returns and never will.
The economy is just part of it. Trump, like his predecessor, seems determined to start a war with Russia. That could certainly bring on an apocalypse regardless of the economy.
The timing of the apocalypse is based on the whims of the elite. If Rothschild wanted the apocalypse tomorrow then he’d push the button. If he wants it 50 years from now then so be it. People were thinking the great financial meltdown was around the corner back in the 70s, and yet here we are. The elites always seem to find a way to stall things.
The fed seems to be raising rates even with slow growth. So I predict more K-selection as the Fed tries to crash the economy
I think that the crisis of big government should be seen as distinct and different from what happens in the private sector. We currently are seeing the collapse of the 75 year long experiment with the socialist/welfare state that is bankrupting governments at all levels. The government credit card is maxed out. This will be a disaster for all those r/selected rabbits who are dependent on government handouts. For those who have made it a point to avoid such dependency, the consequences of government bankruptcy will be far less catastrophic. Keep your total debts under control, keep your budget under control, live within your means, make sure you have savings that are widely diversified and you will fare much better than the people who are solely dependent on a government check.
AC, In case you missed the Trumpster’s proposal that immigrants should be able to support themselves and furthermore barring them from being eligible any benefits for five years:
http://dailycaller.com/2017/06/21/vintage-trump-comes-out-at-iowa-rally/
Translation, Ks are welcome; rs are not.
It’s almost like he reads your blog.
Hey, I just finished a blog for tomorrow on it, but thanks for the heads up. I miss a lot, so it helps.
I think Trump is just hyper K, and beginning to run America like a business. But since K is reality, everyone who sees reality will be on the same wavelength.
Socionomic theory shows that social actions assort according to a common cause. Short skirts, happy music, peace and Disney cartoons appear together while their opposites also emerge at the same time. Unconscious herding impulses create a common “social mood” that drives social actions.
For this reason the timing of the next hard fall is endogenously derived. No one controls it, no one can guide it. Colonists in 1770 lived better than their peers in England, and all of the objectionable laws were repealed by Parliament prior to the start of the American Revolution, yet it proceeded anyway.
Trump can’t change what matters. If the next bear market is due soon, it will arrive on time. Given the unprecedented folly that precedes it, it will probably be apocalyptic indeed.
MAGA
Why the F is someone named “Rucir Sharma” being quoted as if he/she/it belongs in Western civilization? It’s happening everywhere (same with the “Kardashian” plague). These people are not true Americans, and thus have no skin in the game. Why not just ask North Korea to advise on U.S. foreign policy? The rage this produces in my brain!
“My suspicion is the entire media machine is controlled by the elites much more than any of us would believe. ”
Well you are wrong. I think it is 100% controlled. I regularly see phrases used first in American MSM re-appearing in German MSM, or used by MERKEL et al, in the wrong context. It’s all a cookie cutter mind control op. E.g. She used the “big tent” phrase of the Anti Trumper GOP to justify the leftist policies of her pseudo-conservative CDU a few weeks after it appeared first in USA.
That’s why they HATE HATE HATE social media.