Top Down Economics Breeds Bottom up Money Flows
President Trump is supposedly going to present an aggressive spending agenda tonight and is indicating that if will be financed by strong GDP growth in the 3 to 4 percent area. Give me a break.
Since 1980 all we have seen is the fact that Top Down Economics breeds more and more inequality.
If we are going to make America Great Again, the money has to get to the consumer. As I keep pointing out, the Consumer is key and retailing is something to watch. Target’s numbers today, along with a number of other prominent retailer’s numbers are not an aberration.
And the highly touted Consumer index indicators that are streaking upward the past few months, I would say they are just a piling on of exuberant Trump voters. Wait till the find out they don’t have more money to spend.