Tired of all the winning? 3Q GDP revised upward to higher than expected 3.3%

U.S. third-quarter gross domestic product was revised upward this morning to 3.3% growth – unexpectedly, of course, in the minds of analysts, who see no connection between a broadly free-market president who is determined to do right by the American people and results like these. Tired of winning yet? Yet there is a connection.  The free market is happily responding to thousands and thousands of regulations being cut, an end to business being targeted as the enemy, and the prospect of fairer taxes.  What it means is jobs, jobs, jobs, and lots of investment bringing more growth.  GDP is a lagging indicator, the sum of all things that led to the economic activity in the third quarter, so it presents a broad picture.  But that detail about investment being up portends more GDP figures just like this one in coming quarters as investments pay off.  Nobody makes investments if he doesn't think there will be winning ahead.  That tells us a lot...(Read Full Post)