If you’re unaware of the Federal Reserve’s money-printing, economic manipulation, and debt monetization ways, then you’d think President Donald Trump was the cause of all this greatness in the United States.
To a certain extent, some of Trump’s policies have been effective, such as slashing the corporate tax rate to 21 percent and cutting regulations. But the stock market has been fueled by the U.S. central bank, which has been the case since its inception a century ago.
But economists, who should know better, are praising Trump for the boom 2.0.
The Wall Street Journal recently asked 68 economists in academia and in business about who is most responsibly for the booming economy. The overall consensus is that President Trump should be taking the credit, and not his predecessor, President Barack Obama.
Here is what the economists are saying:
– Trump was “somewhat” or “strongly” positive for the stock market gains, job creation, and gross domestic product (GDP) growth.
– Trump cutting red tape and taxes contributed to the latest boom.
– Economists are giving Trump a higher score than Obama because business confidence is higher and investments are increasing.
– Economists gave Obama “neutral-to-negative for GDP growth and negative for long-term growth”; Trump received a “neutral to positive for long-term growth.”
Even The New York Times, a chief critic of the Trump administration, conceded that Trump is revitalizing the U.S. economy as it is “beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolsters economic growth, spurs job creation — and may finally raise wages significantly.”
The Republican tax bill contains numerous flaws, and Trump is refusing to cut spending. But, for now, let him ride the wave of momentum. Let’s see what he says when a recession hits.
Eerily, though, this is everything predicted by Scott Adams, creator of “Dilbert”:
“We don’t like it, but it’s effective.”
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