Good News: After five years of “economic growth” under Obama, the economy might actually take off again.
The US economy will grow by 2.3 percent in 2017 and 3.0 percent in 2018, said the Organisation for Economic Cooperation and Development, revising its earlier forecast.
That compares to gross domestic product growth of 1.5 percent this year, according to the OECD.
Bad News: Because Keynesianism:
The Republican property tycoon’s team has said he will devote $550 billion to rebuilding decrepit infrastructure.
Really Bad News: And that’s all presuming the Democrats don’t call in their markers with Janet Yellen.
Well here is some real good news. Please forgive the thread jack.
I, as we all, have been thoroughly enjoying the leftist meltdown. Every day, reprobate leftists go a smidge more mad. I posted a comment about a piece by the moribund Eric Black the other day that depicted a man near the precipice, and since I approve and encourage that sort of end for leftists, I’ve been watching the usual suspects with anticipation.
And they are not letting me down.
The death of Castro has pushed Black right.over.the.edge.
His lengthy, America trashing eulogy is a masterwork of sedition, and makes Trudeau look like an anti-revolutionary. But for the really sweet irony, witness reprobate leftists (Neal Rovick et al), lecture a refugee from the former Soviet Union (Ilya Gutman), on the benefits of Communism.
No, I shit you not.
https://www.minnpost.com/eric-black-ink/2016/11/cubas-place-americas-history-exceptionalism#comment-255672
Also, I’d be remiss not to share my deepening respect for Donald Trump’s intelligence. Yesterday, he tweeted that flag burning should be a crime; the leftist MSM couldn’t figure out what set him off.
The answer is nothing set him off, he was setting the reprobate left off.
Consider the effect of having pictures and video of filthy leftists burning American flags in front of Trump Tower, all over the MSM. That’s what we have this morning.
The man may be the most sophisticated user of social media since JFK. Either that, or he’s hired them and is taking their advice.
But, but, how can our infrastructure be crumbling? What about trillions spent on shovel-readyTM jobs in the past 8 years?
Rates have been too low for too long. They need to go up, market shock or not.
Probably too early to predict economic impact of infrastructure projects. I wonder if some of it is simply because Drumpf is promising to reduce some regulations.
The success of infrastructure projects is limited — at least as far as improving infrastructure goes. It’s better to think of infrastructure projects, especially those projects that are paid for by the feds, as a keynesian stimulus.
There is a whole branch of economics around this topic called public choice theory. Obama’s “shovel ready” projects was typical. You’ve got broken infrastructure, and feds with a bucket of money. The problem is the bucket of money goes to the infrastructure projects through a political sieve.
This short piece by ex treasury sec. Larry Summers on Massachusetts’ Anderson Bridge fiasco describes what happens when the government, in 2016, spends money on infrastructure:
http://larrysummers.com/2016/05/31/a-lesson-on-infrastructure-from-the-anderson-bridge-fiasco/
At one time they wanted to build the “bridge to no where” which would have been funds well spent? Meanwhile the 35 bridge collapses. Perfect case of pork gone wrong.