What's that dark cloud that I see? It's a business slowdown and it looks more and more like one is coming. This is from Fox Business:
The median estimate from economists surveyed by the National Association for Business Economics calls for gross domestic product growth of only 1.8 percent, down from the 2.2 percent forecast in March.
The outlook for next year calls for 2.3 percent growth.
The survey released Monday also shows the forecast for growth in corporate profits swinging from a 2 percent gain in March, to negative 2 percent in June.
Of the economists surveyed, 57 percent said that uncertainty over the election led them to reduce their expectations.
Why isn't Mr. Trump devoted exclusively to talking about jobs? What's he doing talking about anything else?
We remember Reagan in 1980 quite well. I was there following his campaign and reading his remarks. His stump speech started talking about the misery index, inflation, and unemployment. Then he talked about the businesses that closed and the jobs that disappeared. Then he closed by talking about all of the jobs lost again.
Here is a hint for Mr. Trump. This is Mr. Reagan accepting the nomination:
The major issue of this campaign is the direct political, personal and moral responsibility of Democratic Party leadership -- in the White House and in Congress -- for this unprecedented calamity which has befallen us.
They tell us they have done the most that humanly could be done.
They say that the United States has had its day in the sun; that our nation has passed its zenith.
They expect you to tell your children that the American people no longer have the will to cope with their problems; that the future will be one of sacrifice and few opportunities.
My fellow citizens, I utterly reject that view. The American people, the most generous on earth, who created the highest standard of living, are not going to accept the notion that we can only make a better world for others by moving backwards ourselves.
Those who believe we can have no business leading the nation.
I will not stand by and watch this great country destroy itself under mediocre leadership that drifts from one crisis to the next, eroding our national will and purpose.
We have come together here because the American people deserve better from those to whom they entrust our nation's highest offices, and we stand united in our resolve to do something about it.
Unprecedented calamity? Calamity indeed, and we have Friday's jobs report and the first quarter GDP to make our point.
Mr. Trump: Read Reagan's speeches and start sounding like him! The state of the U.S. economy favors the outsider or challenger. Of course, this is assuming that Trump talks about the lousy economy rather than a lot of other stuff!
P.S. You can listen to my show (Canto Talk) and follow me on Twitter.
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