When a nation as powerful as America takes a chance by electing a Washington outsider to the highest office in the land, there are sure to be some growing pains.
President Donald Trump does not come from a military or political background, and is the first Commander in Chief in our nation’s history to not have served in either capacity previous to his election. Trump was instead an incredibly shrewd and powerful businessman and real estate mogul who prided himself on the glitz and glamor that his name alone could bring to a potential project. Now, as President, Trump is putting that business acumen to the test in an attempt to make America great again.
And, for the most part, things have gone as you would expect in this situation. Trump’s economic virtues are helping the American economy steamroll its way to record breaking number on Wall Street and beyond, with U.S. consumer confidence reaching an incredible peak.
Many on the left have been warning us about a possible bursting of this bubble, of course in the context of Trump failing to maintain it.
Goldman Sachs, however, has a different take.
“This has been a good year for the global economy, and 2018 will follow that trend, analysts at Goldman Sachs said.
“Economic growth around the world has picked up steam this year. Germany — Europe’s largest economy — grew an unexpectedly strong 0.8 percent in the third quarter. In Japan, the economy has grown for seven straight quarters. Meanwhile, in the U.S., the economy grew 3 percent in the third quarter.
“‘2017 is shaping up to be the first year of the expansion in which growth surprises to the upside,’ Goldman analyst Charles Himmelberg said in a note to clients Thursday. ‘We expect 2018 to deliver more of the same.’“Himmelberg and his team expect the global economy to grow 4 percent next year for several reasons, including strong growth momentum, easing financial conditions, global monetary policy remaining “highly accommodative by historical standards” and the likelihood of fiscal stimulus in the U.S.”