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Trading  | September 15, 2018

Fox Business senior correspondent Charles Gasparino, called out  President Donald Trump this week, writing on Twitter, “when was the last time [Donald Trump] said something that wasn’t filled with utter bull shit?” 

Gasparino’s tweet referenced Trump’s false statement that gross domestic product (GDP) growth is now higher than the unemployment rate for the first time in “over 100 years.”

“The GDP Rate (4.2%) is higher than the Unemployment Rate (3.9%) for the first time in over 100 years!” Trump inaccurately tweeted Monday. Economic data show this event last occurred in early 2006. 

Kevin Hassett, the chairman of the White House Council of Economic Advisers, said Monday during a White House briefing —  the mistake was likely the result of false information passed along to the president.

“The history of thought of how errors happen is not something that, you know, I can engage in,” Hassett said.

“What is true is that it’s the highest in 10 years, and at some point somebody probably conveyed it to [Mr. Trump] adding a zero to that, and they shouldn’t have done that.”


Trump’s fake news GDP tweet was too obvious for Fox to overlook. Shortly after Trump’s tweet, the company’s research desk tweeted out a list of the recent quarters when GDP has been higher than the unemployment.


As for President Trump’s continued hype of the economy, using phrases like “greatest ever” and or “best jobs market ever,” at some point — the next downturn will strike. 

* * *

According to a new Morgan Stanley research note, their US equity strategists forecast “peak EPS growth is now behind us” and it is likely the economy could get weaker into the first half of 2019. 

A revolutionary initiative is helping average Americans find quick and lasting stock market success.

275% in one week on XLF - an index fund for the financial sector. Even 583%, in 7 days on XHB… an ETF of homebuilding companies in the S&P 500. 

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