US ECONOMY TAKES OFF UNDER DONALD TRUMP
US Economy Grows 3% in Q3 as Inventories, Trade Offsets Hurricane Woes
Despite hurricanes US economy matched previous quarter’s expansion in Q3
driven by foreign trade improvements, investment in stockpiles ahead of rebuilding
- Department of Commerce : US GDP rose 3% in Q3
- 3.1% expansion in previous quarter
- last 2 consecutive quarters strongest economic growth since 2014
Overall very solid performance
hurricanes Harvey, Irma damages total US$121b in privately-owned fixed assets
additional US$10.4b in public-owned fixed assets.
Trump’s goal is to get to 3% growth for entire year
Obama-era longest streak of near 1% growth in US economic history
Trump’s bold agenda steadily overcoming dismal economy inherited from Obama
President’s tax cuts implemented, entire economy will come roaring back
ongoing acceleration in labor market, industrial production, retail sales figures.
US economic expansion remains on solid ground
US unemployment declined to 4.2%
exports, imports both increased in 3rd quarter, trade deficit declined.
Consumer spending at a solid 3.3%, expected to gain momentum in Q4
consumer sentiment remains robust.
economists focusing on rebuilding efforts in Texas, Louisiana and Florida
greatly contribute to Q4 economic expansion.
positive effects of higher business investment, govt spending will last into next year
boost to residential investment, after declines of past two quarters
My comments : Donald Trump is a businessman. He understands business. He has given tax cuts and tax breaks that are pumping more cash into the hands of American businesses. Hence they have more money to reinvest.
Here is a lesson. When times are bad, always give the businessmen tax breaks and more incentives to kick start their businesses again. They will automatically kickstart the economy. I mean the real businesses. Not the buta money GLCs.
Tax the rich but do not tax them heavily or unnecessarily. Being rich is not an offense.
Being poor should be made a crime. Being poor is definitely because of a lack of effort and lack of common sense. Irwan Siregar was right. You are poor because you are lazy.
If we want to win the World Cup football we send our fittest and best football players to the World Cup. We do not send the village football team from Pulau Kentut Kecil (its beside Pulau Kentut Besar near Langkawi).
If we want to win the economic development race, you must send forward your best business acumen. You cannot send forward your dunggu GLCs and hope to win the economic development race. Do you seriously expect Khazanah Nasional or Felda to take this nation to the heights of economic development? You must be delusional.
- DO NOT trip up your best business acumen.
- Help the genuine business people prosper.
- If you dont want to help, then at least get out of their way.
- Leave them alone.
- They know what to do with their businesses.
When you give a poor person RM1200 BR1M per year, the poor person will consume the RM1200 instantly. It will be gone in a flash.
Give money to a business person and he will buy more raw materials, display new products, buy more machines, increase his production, hire more workers etc. The whole economy will move.
Do not give the businessmen BR1M money.
Just give them back their own money.
Give them tax breaks. Thats their own money.
Give them production incentives.
It is not difficult to manage an economy.
Or a country.
Or a nation.
Just use your common sense.