So…if you, like I….were wondering how the Jim Crow Congress was going to acknowledge how the quarter before they took over showed the highest GDP growth in over a decade (despite their constant assertions it was about to end in disaster), here’s your answer…
In a speech announcing the new Senate, which is now controlled by Republicans, [Turtle Man] said, “After so many years of sluggish growth, we’re finally starting to see some economic data that can provide a glimmer of hope; the uptick appears to coincide with the biggest political change of the Obama Administration’s long tenure in Washington: the expectation of a new Republican Congress.”
I haven’t given my year predictions yet, so today is the day. Have to look up last year, but I was pretty dang close in the economic arena. I’m not sure yet exactly how much the GOP is going to try and screw over the economy any more, now that they can’t hide behind the slim D Senate majority, which makes the prospects really good for nothing happening in Washington. Growth could push 4%, if we’re lucky and the crazies don’t do their thing.
However, the idiots are likely to try and extort the President for the money they have ordered him to spend (i.e. the “debt ceiling”) and the strategy they take in that arena will have impacts in the 1-1.5% area like they did in 2013. So that 4% is pretty sloppy until I see some strategy discussion.
Oil is the big thing now. Texas is going to get crushed, as are folks who overspent. From what I’ve read, there’s about 1-2,000,000 extra barrels of oil on the world market. Until people “burn that up” as they say, prices will stay low, which (as noted and noted again) is good for most folks and bad for others.
Prices aren’t going to go up soon, so enjoy. Pleas don’t be stupid and buy a big car though, because a few years down the road, things might change. If we had sane leaders, we’d use the savings from gas/oil and invest even more in the solar/wind arena. Energy is life for an economy, and lower gas prices make for easier to move goods, which is cheaper good in today’s global economy, Buy those airline stocks with that oil stock money.
The U.S. does seem poised to reap continued benefits from China’s pollution and Europe’s…intransigence. Putin is a wild card, as per. Obama’s cool has been great against his (to us) aggression. Cuba is going to be fun to watch. A couple of full tourist seasons and their per capita will triple. How the commies deal with the wealth can be interesting. Trustafarians on a country-wide level.
So let’s get it on, shall we?