The Corner

Hot Gdp, Core & Real

From Brian Wesbury: “‘Core’ GDP (consumption + fixed investment) increased 4.3% in Q3 and is up 4.5% in the past year. Despite widespread pessimism about hurricanes, energy prices, consumer debt, trade deficits, and housing bubbles, the economy continues to grow at a remarkable pace. This is because tax rates remain low, productivity continues to accelerate, and Fed policy is still accommodative.”

From Mike Darda: “Since an inventory drawdown pulled growth down by more than half a percentage point, and the effects of the September storm-related outages probably knocked another half of point off growth, underlying output actually has been running closer to 5% in real terms. Strong underlying trends in the capital-to-labor ratio and corporate profits suggest that both income and corporate spending should continue at a strong pace moving into 2006. This is confirmed by data on tax receipts, which show that tax revenues grew at the fastest pace since 1982 in FY05.”

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President Trump said the other day that he’d leave office if he loses the vote of the Electoral College on December 14. This is not the kind of assurance presidents of the United States typically need to make, but it was noteworthy given Trump’s disgraceful conduct since losing his bid for reelection to ... Read More
White House

Trump’s Disgraceful Endgame

President Trump said the other day that he’d leave office if he loses the vote of the Electoral College on December 14. This is not the kind of assurance presidents of the United States typically need to make, but it was noteworthy given Trump’s disgraceful conduct since losing his bid for reelection to ... Read More
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Elections

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It was predictable, and widely predicted, that Donald Trump would respond to an election loss, particularly one by as narrow a margin as this, with claims of fraud, efforts to delegitimize the outcome, and increasingly implausible attempts to find some lever to overturn it. Handling setbacks without grace or ... Read More
Elections

How Trump Could Have Reacted to the Election

It was predictable, and widely predicted, that Donald Trump would respond to an election loss, particularly one by as narrow a margin as this, with claims of fraud, efforts to delegitimize the outcome, and increasingly implausible attempts to find some lever to overturn it. Handling setbacks without grace or ... Read More