Courtesy of Nattering Naybob.
Once again, in what is becoming Tuesdays with Trump, but could be confused by some as Tuesdays with Morrie…
Things we have been Nattering about for awhile, serial asset bubbles, an emasculated economy, falsity in econometrics.
Trump has for months contended that the U.S. economy is in trouble because of what he sees as an overvalued stock market, but his view has grown more pessimistic of late and he is now bearish on investing, to the point of warning Americans against doing so.
“I think we’re sitting on an economic bubble. A financial bubble,” Trump said. He made clear that he was not specifying a sector of the economy but the economy at large and asserted that more bullish forecasts were based on skewed employment numbers and an inflated stock market.
“First of all, we’re not at 5 percent unemployment. We’re at a number that’s probably into the twenties if you look at the real number,” Trump said. “That was a number that was devised, statistically devised to make politicians — and, in particular, presidents — look good. And I wouldn’t be getting the kind of massive crowds that I’m getting if the number was a real number.”
Source –Washington Post April 2nd, 2016; Full Transcript of the Trump Interview
We would not disagree, but must ask has the Donald or his staffers been reading us?
