It is surprising to me that the President and his supporters still put their eggs into the Larry Kudlow basket. When will these Trickle Down” proponents finally get wise?
Kudlow said this morning on Fox that the Retail Sales drop was a “glitch”. Just like the December stock market drop was a “glitch”. And the government shutdown was a “glitch”.
You know what? He’s close, but just off the mark. This President is a glitch.
Yo Trump supporters: I get it, this isn’t exciting. It kind of sucks that you’ve invested so much of yourselves in supporting this loathsome character in the name of economic success and the reality sinks in that he really isn’t any better than what you railed against for years. It can be cathartic to just say, “We were wrong for worshiping at the alter of supply-side economics and Trump.”
The Atlanta Fed, normally one of the more optimistic estimator, is saying 1.5% for 4th quarter. If that holds, that’s the worst quarter since 1st quarter 2016 which was also 1.5%. To go lower you have to go back to 4th quarter 2015. If this holds it’s a pretty big deal. Because 2018 is as good as the Trump economy is going to get.