Home U.S. Economy U.S. Economy Grows By 2.1 Percent In Q3

U.S. Economy Grows By 2.1 Percent In Q3


The impeachment trial is still in limbo thanks to Nancy Pelosi. Pelosi decided to let Mitch and Trump bicker about how long the trial will be and if witnesses will be part of the pending Senate debacle.

Congress went home for the holidays so the trial might begin the second week of January. Mr. Trump plans to attend the economic forum in Davos on January 21st, but he might have to stay in Washington to fight his impeachment. Mr. Trump wants to attend the Davos forum this year to boast about his great economy that isn’t that great.

The U.S. economy grew by 2.1 percent in the third quarter, according to a recent government report. That means the economic growth dropped by one percent this year. Economist project two percent growth in 2020 and 1.8 percent growth in 2021. China’s growth will stay in the 5.8 to 6.0 percent growth category.

The 3.5 percent unemployment number is not as accurate as Trump would like people to believe. The real unemployment number is more like 10 percent when all the part-time jobs, and low-paying jobs, as well as the people who stopped looking for a job, are part of the unemployment calculations.

The Tech industry is still in turmoil thanks to Trump’s mission to break Huawei’s grip on the U.S. tech industry. Trump recently made it harder to buy Huawei components due to a change in the business ban he put in place. The big tech companies want the president to drop the ban or issues licenses for a longer period, so they can develop future business plans, intelligently.

Mr. Trump wants to keep Huawei on the ropes in order to dominate the global 5G market. The president claims Huawei is an agent for the Chinese government. Trump believes Huawei embeds spyware in its apps that give China information they shouldn’t get. Mr. Trump sent Mike Pompeo around the world to badmouth Huawei and Trump made a point to tell the U.K., France, Germany, and other EU countries Huawei’s may spy on them too without producing proof. According to a French tech company, Mr. Trump’s spy claim is more about his trade war with China than spying.

Huawei’s CEO Ren Zhengfei wants Trump to release his daughter Meng Wanzhou from house arrest in Canada. Prime Minister Trudeau wants Trump to do the same thing, so he can get the two Canadians back China grabbed when Canada arrested Meng last December.