The Left wants an economic recession. They know it will increasetheir odds of beating Donald Trump in 2020, despite sending millions of American families into financial distress. For the elite and the Hollywood Left, they’re going to be fine. For everyone else, screw ‘em. HBO’s Bill Maher says he wants an economic collapse in the hopes of beating the president. With the Trump White House playing hardball with China, there were some ripple effects, but is there a recession on the horizon. Not really, despite the media trying to overload the news cycle in the hopes of driving down the numbers on Wall Street. They have been able to tank the markets. Brian Ross, formerly of ABC News, took to air with a shoddy story about Trump and Michael Flynn, where he said that Flynn was ordered by candidate Trump to make contact with the Russians during the 2016 election. This was done after Trump had won, which is typical for any incoming administration. Ross was suspended and eventually parted ways with ABC News, but not before the fake news story tanked the market.
The good news is that right now, despite the media lusting for our economic ruin, the economy is still going strong (via CNBC):
The labor market and the broader economy are both better than they look on the surface, and in fact have been mostly defying the continual patter of recession expectations.
By multiple measures, the U.S. is staying ahead of the global slowdown, the trade war with China and the bond market’s implication that the decadelong recovery after the financial crisis is coming to a close. Though the major Wall Street averages wobbled around breakeven … stocks are back near record highs as investors shrug off the wave of fear.
One gauge in particular shows how much the economy has defied downbeat forecasts.
The Citi Economic Surprise Index, after nearing its lowest level in two years in June, this week was at its highest point since February. The index looks at actual economic readings against consensus forecasts, so it will rise when expectations are too low and fall when optimism runs too strong. The latest move, then, can be seen as a recalibration of Wall Street’s overriding pessimism.
And now a new report shows that economic growth continues to remain solid under this administration. The study was conducted by the U.S. Chamber of Commerce and the USG Corporation regarding the Commercial Construction Index for the third quarter. Here’s their press release:
The Q3 2019 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (Index) released today climbed to a record high score of 77, up from 74 in Q2 2019.
Half of all contractors expect revenue increases over the next year, rising 14 points quarter-over-quarter. Also, notably higher is the expectation for profit margins to increase in the next year, which grew by 12 points between Q2 and Q3 2019.
The majority (58%) of contractors report they are highly confident that the next 12 months will bring sufficient business opportunities, a six-point growth over Q2. This is the largest percentage in the last four quarters to report this degree of optimism.
"Contractors are thinking about the future and are optimistic about what's ahead," said Christopher Griffin, CEO of USG Corporation. "Continued levels of confidence around backlog and profit suggest nonresidential construction will continue to play an important role in overall sector growth."
In Q3, the Index survey also asked contractors about resiliency: a timely topic as the South Atlantic reels from Hurricane Dorian and braces itself for the impacts of the 2019 hurricane season. Not surprisingly, three-quarters of general contractors said they have experienced schedule delays due to extreme weather events. Yet, only 38% of respondents in the South said they include the impact of weather when calculating project bids.
Make America Great Again, fellow patriots.