More Incredible Economic News That Helps the World & Actually Hurts Our Country’s Real GDP!

Our President rightfully tweeted this out moments ago.

From the article linked above:

U.S. consumers’ confidence hit a fresh 14-year high this month, as lower-income households reported feeling more optimistic about the economy.

The University of Michigan on Friday said the preliminary result of its consumer-sentiment index was 102.0 in March, up from 99.7 in February. That was the highest level since January 2004, and well above the 99.0 economists surveyed by The Wall Street Journal had expected.

However, here is what our President and his Killers also understand!

Every country that imports their materials into our country have a humongous smile on their face based on this great news. It means Americans will purchase more and it will extend the trade deficit in their favor and against us! Meaning our real GDP for the 1st Quarter will continue to shrink!

Both the NY Federal Reserve and the Atlanta Federal Reserve have revised their forecast for the 1st Q real GDP in 2018 downward today.

Look at the reason that the Atlanta Federal Reserve gives:

“The nowcast of 1st Quarter real private fixed-investment growth increased from 2.4% to 3.3% (THIS IS FANTASTIC NEWS) after this morning’s new residential construction release from the U.S. Census Bureau & this morning’s industrial production & capacity utilization release from the Federal Reserve Board of Governors. This increase was more than offset by the modest downward revisions (HERE IT IS CLEAR AS DAY / DEVASTATING NEWS) to the contributions of real consumer spending, real net exports, and real inventory investment to 1st Quarter real GDP growth.”

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