Labor Day and a strong economy

The economy delivered another tough punch to the "doom and gloom" crowd, as we see in this report:    The U.S. economy recorded its strongest economic growth in nearly four years in the three months to the end of June, according to revised figures. Gross domestic product increased at a 4.2% annualized rate, the commerce department said on Wednesday after revising its second-quarter calculations, establishing the quarter as the strongest in terms of growth since late 2014. Many economists had forecast a downward revision of growth to about 4%. In fact, things are doing so well that Senator Charles Schumer wants to change how we keep score:  "Senate Democrats want the government to say if GDP growth is helping the middle class"! Schumer's problem is that the U.S. voter is smarter than he is.   In other words, no politician can tell you that the economy is doing well when it's not or doing poorly when it is...(Read Full Post)
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