Saturday, March 17, 2018
Over the last week, we’ve heard about “chaos,” “personnel changes,” “Stormygate,” and lots of other things. It’s enough to get me to turn off the news and watch an exhibition baseball game. Like the old story about the kid who cried wolf, this constant anti-Trump drumming gets old after a while. In Aesop’s fable, the townspeople just tuned out the kid. Today, the negativity is so over the top that it becomes hysterical noise.
The problem with negativity is that it can’t compete with good news, as we see in these examples:
1. U.S. Consumer Confidence Hits 14-Year High. According to The University of Michigan report, a big reason was that lower-income households feel more optimistic about the economy. By the way, do you remember the Zogby poll about President Trump doing better with Hispanics and black Americans?
2. On another front, we just learned that Two Million Americans Got Off Food Stamps over the last 12 months. I don’t remember anyone canceling the program, so getting off must mean that people are working and buying their own food.
3. Larry Kudlow, the new economic adviser, is telling everyone 4 to 5% growth is coming. He also sees the biggest investment boom in probably 30 to 40 years around the corner.
To be fair, Kudlow could be wrong, and all of these good reports could change in a few months. For the time being, the good news is more credible than the CNN panels. Of course, one big reason is that people are feeling better about their jobs and the economy. In the end, positivity trumps negativity!
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