Wednesday, May 04, 2016

Economic Confidence Tumbles As Trump Clinches GOP Nomination

by JASmius

Oh, that's not the only factor contributing to the looming sense of economic DOOM to match the Obamanomic reality, but the possibility of the latter being supplemented by a global trade war to boot is certainly contributing mightily to the downward trend:

Gallup’s reading of Americans' confidence in the U.S. economy tumbled last month, reflecting the overall volatility in the stock market and race for the White House.

Gallup's Economic Confidence Index averaged minus-14 for April, down from minus-10 in March. The April average ties with September 2015 as numerically the worst since confidence started climbing toward positive territory in late 2014 and early 2015 after gas prices began to decline....

Economic confidence varied significantly throughout April, with Gallup's three-day rolling averages falling as low as -20 on two separate occasions and as high as -8. The most recent weekly average, based on April 25th-May 1st interviewing, shows the confidence index at -15, right around the monthly average.

Gallup's Economic Confidence Index averages two components: how Americans view the economy currently and whether they see it improving or getting worse. The index has a theoretical maximum of +100, if all Americans were to rate the economy as "excellent" or "good" and "getting better"; and a theoretical minimum of -100, if all were to rate the economy as "poor" and "getting worse."

Perhaps if The Donald could stop "winging it," zig-zagging all over the economic policy landscape - "Across-the-board tax cuts!  No, a 14.25% wealth confiscation tax!  I'll eliminate the entire $19 trillion national debt in eight years without touching entitlements!  I'll make pigs fly out of your ass as freshly-cooked, Applewood-smoked bacon strips!" - stop engaging in such ludicrous, pie-in-the-sky, unicorn-wishes & Green Lantern dreams wishcasting, and most of all cut out the trade brinksmanship and saber-rattling and try putting forth a coherent, free-market economic platform and the, well, "presidential" leadership to back it up, his presumptive nomination wouldn't be such a destabilizing factor to domestic and global markets.

But this is Donald Trump we're talking about.  Which is one reason among many why the general electorate won't be signing on for that wild ride, and provides another answer to the heretofore unfathomable question of what it would take to make Hillary Clinton seem like a semi-quasi-borderline reasonable stateswoman.

Talk about picking your poison.

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