USA is the Only Expanding Economy:
Global CFO Third Quarter Survey:
Every quarter, CNBC surveys its Global CFO Council to gain insight into the status of the current global economy. The CFO council is comprised of Chief Financial Officers of the world's largest 113 companies that combined are worth nearly $5 trillion. Interestingly the council is comprised almost exclusively of multinational corporations who are generally opposed to President Trump's MAGAnomic trade reset.
However, in the third quarter survey the CFO's note that only one economy in the world is currently improving, the United States.
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The multinational CFO's (Wall Street) generally rail against President Trump's trade and tariff proposals in almost all financial media. These are the same multinationals who decry President Trump's deployment of tariffs as a trade negotiation strategy. However, when it comes to actually quantifying the growth rate of the global regions covered, they admit the U.S. is where the current and future growth is most expansive.
As Investors Business Daily notes: https://www.investors.com/politics/editorials/economic-boom-
[...] The fact that the U.S. appears to be pulling away from the rest of the world hasn't gone unnoticed, at least not in the White House. At a speech last week at the Economic Club of New York, Trump's top economic adviser, Larry Kudlow, said "the U.S. is the hottest economy in the world today. We're crushing it."
But wait a minute.
For some time now, the "experts" have been telling us that the U.S. was just riding a global growth wave. The improved economy here had nothing to do with Trump's deregulatory efforts, or his pro-growth tax cuts, or the sharp uptick in optimism once he got elected.
[...] Now it appears that the U.S. economy is accelerating, while the rest of the world is in neutral. (read more)
https://www.investors.com/politics/editorials/economic-boom-
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Not only is the U.S economy the place to be for investment opportunity and the highest rates of return; but all sectors of the economic base are expanding and generating overall GDP growth.
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Read more about GDP and corporate profits for the second quarter in our latest blog:
https://www.bea.gov/news/blog/2018-09-27/gdp-increases-secon
- BEA News (@BEA_News) September 27, 2018
American manufacturers continue to exhibit strong growth under
https://www.investors.com/politics/editorials/economic-boom-
- Sec. Wilbur Ross (@SecretaryRoss) September 27, 2018
August 2018 new orders for manufactured durable goods, up two of the last three months, +4.5% to $259.6b. Transportation equipment, also up two of the last three months, led the increase, +13.0%.
https://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf?CI
- U.S. Census Bureau (@uscensusbureau) September 27, 2018
Orders for durable goods reflect the underlying businesses are predicting future growth, long-term growth. Trucks and heavy transportation equipment orders continue growing by double-digits (currently 13%). That is a massive investment internal to the underlying U.S. economic expansion.
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