Last Friday the New York Federal Reserve raised its estimate of U.S. GDP growth for the fourth quarter of 2017 to four percent. That’s officially the unattainable, impossible magic-wand-level of GDP growth all the ‘experts’ said was impossible. Why did they make that ‘unexpected upward’ re-re-re-revision? Because the underlying economic activity represents facts that cannot be denied. The economy is on-the-move.

…”Hold on to your economic britches peeps – throw dem ju-ju bones out the windows – grab hold of the young-un’s, squeeze em tight and introduce them to ‘capitalism unchained’. We are in uncharted MAGA territory now. Q4 will be well beyond 3.2% 3.8% 3.9% 4.0%… Well Beyond.”…
The actual economic activity noted in virtually every region in the U.S. is so strong the polling measures of economic optimism are reaching new records. Today, as an example, for the first time in their 11 year CNBC All-American Economic Survey more than half of all Americans responding to the questions rate the economy as good or excellent. Additionally, nearly 41 percent of Americans say they expect the economy to be better a year from now. These represent the most optimistic results CNBC has ever recorded.
We would be remiss if we didn’t note a specific choice of words used to describe the economic conditions being measured:
…”We’re not measuring a marginal change in the economy, we’re measuring a different economy.”…
Sound familiar?
It should….
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