Pundits, Press And The Real World

Joel Ross

For the past 18 months we have seen a stream of forecasts that the new normal was under 2% growth for GDP, that a recession was coming, Trump could not win, the economy was slowing, stocks would drop substantially, and other similar pronouncements, especially on CNN, ABC, NBC and from several economists. To date they have all been wrong. If you read the CNBC.com webpage, or Bloomberg’s daily webpage on the markets, you see, a string of people propounding this or that forecast of gloom, or legal trouble for Trump, or some other dire event about to happen. By now, hopefully, you have realized many people have an agenda, and they are taking the opportunity of their 5 minutes of fame to mouth off.  It is important when you are forecasting conditions for your own projects, that you try to take in as much objective information as you can from a variety of sources, the least of which should be the mainstream media. There is a lot of data, both local and national and worldwide, that is from government or other reliable sources from which you should draw your own conclusions.

So far Trump won, the economy is likely to perform above 3% going forward, and maybe above 3.5% later this year, the unwinding by the Fed is not disrupting the bond market, there was no collusion or obstruction, and Lanny Davis, the Clinton’s lawyer, went on TV to say Comey is a liar and should have been fired even before Trump took office. Alan Dershowitz, an eminent liberal constitutional scholar, opined that there was never any case for collusion nor for obstruction, and he is a well known liberal Democrat. And now we have the start of what is likely to be a continuing string of revelations by the IG showing not only that McCabe lied,  but that there was a concerted effort to cover up for Hilary because they all believed she would be president. Even Comey in the big interview said he was probably swayed by “knowing” Hilary was going to be president. He also said there is something about Loretta Lynch nobody knows yet, and McCabe told the IG he was pressured by the top level of DOJ to bury the Clinton Foundation investigation. Connect the dots.