The US economy continued to roar to life under President Trump and the Republican-led Congress this week, with a spokesperson for Morgan Stanley saying the belief in ‘American exceptionalism” among “global investors” has never been higher.
According to CNBC, Morgan Stanley’s Ruchir Sharma hailed the booming recovery that is rapidly drawing the attention of business leaders from across the globe.
“This year has been a story of how well America has done,” said Sharma.
“We may or may not believe in [American exceptionalism], but the financial markets have never believed in it to such an extent,” he added.
The positive message comes just weeks after the US economy officially grew at a rate of 4.2% in the second quarter of 2018; smashing expectations and signaling a robust economy heading into the 2018 midterm elections.
Read the full story at CNBC.
AMERICA UNLEASHED: Food Stamp Enrollment DOWN 2.8 MILLION Under Trump
The US economy continued to roar to life in July under President Trump and the GOP-controlled Congress, with new data showing nearly three million Americans have left the nation’s food stamp program since the President’s inauguration in January 2017.
According to the new statistics released by the Department of Agriculture, over 2.8 million people dropped the program since Trump took office; fulfilling a signature campaign promise to boost Obama’s stagnant recovery.
Millions drop off of ‘SNAP’ under Trump pic.twitter.com/CAjXVgtzTA
— Fox News (@FoxNews) August 6, 2018
The strong economic data -coupled with 4.1% growth in GDP in the second quarter of 2018- may spell disaster for Democrats heading into the midterm elections; with House Minority Leader Nancy Pelosi pledging to “repeal” the widely popular “GOP tax scam.”
AMERICA UNLEASHED: GDP GROWTH Tops 4.1% in SECOND QUARTER
The US economy continued to roar to life in the second quarter of 2018 with GDP growth topping a whopping 4.1%; signaling a robust recovery under President Trump and the GOP-controlled Congress.
According to CNBC, Gross Domestic Product posted its largest gains in over four years on the back of strong consumer confidence and record-breaking business growth and optimism following the Republican-sponsored tax cuts.
“That’s the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent,” writes CNBC.
“We’re on track to hit the highest annual growth rate in over 13 years,” said the President. “And I will say this right now and I will say it strongly, as the deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers.”
Read the full report here.