The debt monster still looms which will be harder and harder to feed as interest rates rise. The stock market is still built on magic conjured by the Federal Reserve. Europe continues to generally remain weak. Greece particularly is eroding yet again.
But saying all of this there is a tangible optimism economically speaking in the air. I certainly sensed it with the election of Trump, even in my very “liberal” home town. Yes there are/were people wailing and crying to the stars in the wake of Hillary Clinton’s loss. But generally speaking there is a more positive economic mood. There is no doubt about it. It’s the first real economic optimism I’ve felt (and I am not saying it is fundamentally justified) since perhaps before the September 11th attacks.
Whether this buoyancy continues no one can say, and there are plenty of rocks all over on which the economy could crash. But it is undeniable that the middle class of this country feels positive change.
(Yes we are fully aware of Mr. Trump’s shortcomings politically speaking, economic myopia in many respects, and other challenges. But this poll reflects what I personally have felt in the general ether for good or ill. There is a sense of moving on from the Obama years and in many respects the from the Obama/Bush years.)
(From The Hill)
A strong majority of Americans say the U.S. economy is running strong, and most believe the upward trend will continue under President Trump, according to a Harvard-Harris poll provided exclusively to The Hill.
The survey found that 61 percent view the economy as strong, against 39 percent who say it is weak.
A plurality, 42 percent, said they believe the economy is on the right track, versus 39 percent who said it is on the wrong track.
Trump and congressional Republicans have claimed credit for the turnaround, noting numerous polls in 2016 that showed that many Americans wanted change in the nation’s capital. Democrats counter that former President Obama handed a healthy economy to Trump and point out that the unemployment rate has dropped under 5 percent. At a press conference on Thursday, Trump said he inherited “a mess.”