Art Laffer: US is ‘bright light’ in world economy


THIS IS THE ADP REPORT ABOUT IT WAY. HERE NOW IS ART LAFFER, FORMER REAGAN ADVISOR, CHAIRMAN OF LAFFER ASSOCIATES. WHAT DO YOU MAKE FIRST OF ALL OF THIS NUMBER AND WHAT DOES IT TELL YOU ABOUT THE BIG GOVERNMENT JOBS NUMBER COMING LATER?>>HI, MELISSA. I DON’T TAKE THIS NUMBER VERY SERIOUSLY AT ALL. LOOKS LIKE RIGHT IN LINE AND IN REASON. WHAT I REALLY WANTED TO SAY LAST MONTH’S JOBS NUMBER LOOKED AT THE ESTABLISHMENT NUMBER. I THINK IT WAS UP 130,000 OR SOMETHING LIKE THAT. IF YOU LOOK AT THE HOUSEHOLD NUMBER IT WAS UP 590,000. I WOULD EXPECT THE ESTABLISHMENT NUMBER, THE OFFICIAL NUMBER TO BE UP QUITE SUBSTANTIALLY ON FRIDAY THERE IS NO MONEY BACK GUARRANTY IN MY COMMENT, PLEASE BUT I WOULD EXPECT THE ESTABLISHMENT NUMBER TO LOOK VERY GOOD TOMORROW. MELISSA: WHAT WOULD THAT TELL YOU? YOU HEARD ALL THE HEADLINES TODAY THAT THIS IS SHOWING THAT THE ECONOMY IS SLOWING DOWN. WHAT DO YOU THINK?>>WELL, WHAT I THINK THE REST OF THE WORLD IS SLOWING DOWN DRAMATICALLY. JAPAN ADDED TWO CENT SALES TAX INCREASE WHICH IS DEVASTATING TO AN ECONOMY THAT HAS NOT SEEN PROSPERITY FOR 40, 50 YEARS. I MEAN IT IS REALLY TERRIBLE. ALL THE REST OF THE WORLD IS DOWN. THE U.S. IS BEING HIT BY THAT AS WELL. BUT WE’RE THE BRIGHT LIGHT IN THE WORLD ECONOMY. WE’RE DOING NICELY. THE TAX BILL COMING THROUGH WELL. WE’RE HAVING ALL SORTS OF GOOD DEREGULATION RESULTS. I’M QUITE OPTIMISTIC ABOUT THE U.S. I DENT SEE RECESSION AT ALL. I DON’T SEE ANYTHING IN THE WAY OF POLICY. OTHER NEGATIVE IMPEACHMENT OF THE PRESIDENT THE PROSPECTS OF THAT. THAT IS RIDICULOUS. THAT WILL HURT THE ECONOMY. HE IS A GREAT PRESIDENT AT THE STANDPOINT OF ECONOMICS AND I WISH THEY WOULD STOP. MELISSA: WHY WOULD IT HURT THE ECONOMY SHORT OF REMOVING HIM WHICH DOESN’T SEEM LIKELY?>>IT GETS TIME TO BE DIVERTED AND IN LOOKING AT ECONOMY AND THERE IS LOTS OF THINGS LIKE THAT. USMCA WON’T BE PASSED. IT SHOULD BE PASSED. HE HAS A GREAT AGENDA SITTING THERE. IT TAKES AWAY TIME AND ENERGY AS THE WHOLE TIME IN OFFICE HE HAD THIS HARRASSMENT. AND HE HAS BEEN A GREAT PRESIDENT FROM THE STANDPOINT OF ECONOMICS. MELISSA: REALLY WON’T GO FORWARD? IN A PRESS CONFERENCE EARLIER TODAY NANCY PELOSI IN BETWEEN BREATHS ABOUT IMPEACHMENT WAS TALKING ABOUT THE FACT THEY ARE CLOSE TO THE FINISH LINE. SHE SAID THEY’RE MOVING IN THE DIRECTION YES. WE HEARD LAST FRIDAY FROM OUR OWN CHAD PERGRAM MOVING CLOSER TO THE HILL. NEGOTIATION IS GOING ON. IT IS IN EVERYONE’S BEST INTEREST. YOU DON’T THINK THEY WILL GET THAT OVER THE FINISH LINE IN SPITE OF WHAT IS GOING ON?>>I BELIEVE IT WHEN I SEE IT. I HAVE NOT SEEN THE NANCY PELOSI AND HOUSE DEMOCRATS AGREE WITH TRUMP ON ANYTHING. THEY REALLY DON’T. MELISSA: YEAH.>>THE QUESTION IS ALSO WHATMENTS THEY WILL PUT IN IT, WHAT CHANGES THEY WILL PUT IN IT, IF THEY PUT IN ENOUGH BAD AMENDMENTS AND BAD CHANGES IT WILL DILUTE, IF NOT ELIMINATE REALLY GOOD PLUSES OF THAT BILL. THERE ARE LOTS OF OTHERS GOING ALONG — MELISSA: ART, QUICK.>>YES, SORRY. MELISSA: THE ACE IN HIS POCKET WOULD END THE CHINA TRADE WAR, NO?>>OH I HOPE SO. THAT IS THE ACE IN THE POCKET BUT I DON’T KNOW IF HE CAN DO IT BY HIMSELF. HE CAN’T DO IT WITHOUT SOME CONCESSIONS, ESPECIALLY ON INTELLECTUAL PROPERTY AND TRANSFER OF TECHNOLOGY. I DON’T KNOW HOW HE CAN DO IT CONSISTENTLY WITHOUT THAT. BOY, WOULD I LOVE TO SEE HIM DO THE CHINA DEAL. THAT WOULD SEND THE MARKET OFF TO THE MOON.

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  1. Just for those who don’t know… this guy is super super super smart. Probably the most respected economists on the planet.

  2. And the dumbocrats are doing their very best to derail that. Long past time to drain the swamp of these divisive and corrupt scumbags.

  3. What did Joe Biden accomplish when he was in office? There’s so many pressing issues facing this nation while Democrats do nothing other than constant looking for impeachment is an illustration that the Democrats do not care about the country other than getting into power for personal gains.

  4. Slow downs are normal it been 10 years since the last recession we just need trump to cut spending and the deficit and debt

  5. When the economy tank who will trump or the gop blame since they did pass the 2 trillion tax cuts for the rich and trump did tariffs we got debt so high no party will fix this mess also we have to end the federal reserve now

  6. If someone is bashing someone all the time it tells you more about the one bashing. That’s all they have been doing to this president.

  7. Seasonal jobs is what shows and our economy doing good what a idiot give that stocks have been going down but I'm not complaining its always a great day when it looses money because the rich just get a bit poorer and hope that China holds of and gives the finger to intellectual property owners

  8. Jobs go over seas: " Obama was the greatest president"
    Trump: " 4 million jobs added during term"
    Liberal Media: "Still not good enough"

  9. if you believe recession is coming, sit in cash. when it drops you can buy…unless we are all doing that and noone wants to go first…

  10. The primary reason America still exists despite its flawed foreign and economic policies is because the U.S. dollar is still the World's Reserve Currency. Foolish for anyone to believe that there isn't a recession on the horizon. It's even more foolish to advocate the continued existence of the "Federal" Reserve.

  11. A LAW SHOULD BE VOTED! ONCE YOU ELECT A PRESIDENT! NO MORE MEDIA BICKERING! NOTHING!

    EVERYTHING ON TEH PARLAMENT FLOOR! AND GO TO WORK!
    YOU CAN DO NOTHING WHEN MASS MEDIA IS MAKING MONEY OF SCANDALS!

    THEY SHOULD REPORT THOSE FAMILIES SHOW AS KARDASHIANS

  12. Fox News works for Trump. Fox News is the Trump propaganda / re-election channel. Art Laffer… tax cuts pay for themselves… The lie of the last 1/2 century. Fox News does not care for out republic, they only care that their dictator is in the white house.

  13. Once other countries start paying tariffs, they will adjust, rebudget, and it will drive their innovation to find others ways to make money, nobody said there wouldn't be an adjustment. It will all workout in the end while minimizing the struggle to get their. Trump is Amazing, this could be a phenomenal time if Democrats knew how to see VISION of a robust independent strong country, NOT reliant on Goverment meddling, but freedom and liberty and the pursuit of happiness!

  14. The world deep state (new world order) is in for a big letdown..trump will be re elected in 2020..your apple cart will not be up righted lefties…WOMP!.WOMP!.WOMP!…..

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