Sometimes people’s eyes glaze over when presented with economic statistics published by the government or private research organizations. And it’s true that economics is filled with bewildering terms that can convince folks that one needs a Ph.D. in order to understand all of this. So they just tune out. After all, economics is not called the “dismal science” without reason.
Fortunately, much of that is untrue. While the economic and statistical methods used to calculate these numbers are pretty intensive, you can follow and understand this stuff. And you can use it to determine the direction of the nation’s economy and in your own personal financial planning. It just takes a bit of study and work on your part and you’ll have it down.
With that introduction, you can begin to appreciate some terrific economic news that was just published.
Bloomberg just reported that, “Consumer confidence climbed in December to the highest level since August 2001 as Americans were more upbeat about the outlook than at any time in the last 13 years, according to a report Tuesday from the New York-based Conference Board.”
That’s the good news. But it’s also nice to know why this is the case. The same report continues, “American households are expecting a Donald Trump administration to deliver. They are more upbeat about the prospects for the economy, labor market and their incomes, according to the Conference Board’s report.”
Those who have been supporters of Donald Trump can take much pleasure in seeing the wisdom of their support vindicated by this report. Donald Trump is seen as a force who will energize the United States economy, and that is, or should be, wonderful news for everyone.
A concern that appears a bit in the margins of this report, however, needs to be heeded as well: “Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized.” That really comes as no surprise. All it says is that Donald Trump has to deliver. To the extent that such might not be the case, consumer optimism can turn the other direction rather quickly.
That said, given all the positive results in saving and creating new jobs that Mr. Trump as already accomplished as president-elect, we can only look forward with great anticipation to what his leadership will do for America once he takes over the White House.
Look well to the future, America.