Posted on 11/17/2016 4:22:46 AM PST by IBD editorial writer
Economy: If we heard anything about Donald Trump's proposals from mainstream economists before the election, it was that he'd send the economy into a tailspin. Now, after Trump's Nov. 8 victory, they are suddenly revising their forecasts upward. Go figure.
When it was clear that Trump was going to win the election early Wednesday morning last week and stock futures had dropped, one-time economist Paul Krugman made this prediction: "If the question is when markets will recover, a first-pass answer is never." We are, he went on, "probably looking at a global recession, with no end in sight."
Two days later, after stocks hit record highs, Krugman "quickly" (his words) retracted that prediction.
Krugman was far from the only one warning that a Trump victory would spell economic doom.
During the campaign, Moody's Analytics, in a report that was widely picked up by the press, said that "the economy will be significantly weaker if Mr. Trump's economic proposals are adopted."
Hillary Clinton and Barack Obama, along with their media echo chamber, were busy lecturing the country that tax cuts and deregulation "have never worked" to boost growth.
(Excerpt) Read more at investors.com ...
As stated by two exemplary sources of fiscal responsibility, both of whom were rejected in the last election.
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Krugman has a great gig.. As long as he is ready to spout negatively about conservative-related economics, he will always have media outlets and universities standing in line to hand him money. A one-man echo chamber!
By the way, they said the same about Brexit. And now unemployment in England is lower. The reality is that these forecasts are not just wrong. They are propaganda. These people knew they were wrong when they said them. The media has no problem issuing these obviously bad predictions to sway the vote. And now they are shocked to find out we distrust the media.
I saw a prediction the other day that this election has the possibility to create another boom similar to the Regean - Bush era .
Do these people have ANY knowledge of what they are speaking? Idiots, trying to keep their names in the limelight. Best they keep quiet, “A closed mouth gathers no foot”.
Well, of course it will!
$Hrillary wanted to hike corporate tax rates to the highest in the world and impose an exit tax. She was explicit in her ads.
DJT wanted to lower the rate, very low, and watch all the companies and their cash come flocking back.
Gee, I wonder which one is a growth policy?
Probably in the top 5 of contrarian indicators to follow. Whatever he says, count on the opposite.
This is a transition period from one economic wave to the next. Likely will be driven by an energy boom—just not oil, or gas, or solar as is being assumed. Believe oil, gas, and coal will be displaced from a majority energy role between 1 to 2 decades from present. Speculate that investment in new solar or wind will cease in 2-5 years.
I think the era of dirt cheap energy is over. My wild guess is the big growth will be in efficiency improvements.
the successful Japanese model since oil shock of 1973 has been to increase GDP with no increase in energy consumption.
small incremental improvements year after year in efficency result in big culumtive gains.
agree that we are on cusp of a 4% sustained real growth. There are simply too many phenomenal solutions being brought to market.
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