Government statisticians manipulate statistics, and because most of them are Democrats, you know who the manipulation favors. From Brandon Smith at birchgold.com:
The U.S. consumer spending engine and tariffs as leverage
Mainstream economists were surprised last week after Donald Trump closed two massive trade and tariff deals, the first with Japan and the second with the EU. And this happened without triggering an economic crash.
The deal with Europe in particular has made a number of critics look rather foolish; there’s an army of mainstream economists who might reasonably acknowledge they misjudged the situation. But we all know that economists never admit their mistakes.
As I have been telling people for months, the American consumer is the economic engine of the world. There was no chance that any nation, or group of nations, was going to effectively challenge the U.S. on tariffs.
Doing so would mean catastrophic loss of the U.S. export market.
As I noted in my article Europe’s Anti-American Shift: Now Globalists Are The Saviors Of The West? from April:
The U.S. makes up 30%-35% of all global consumer spending and is the largest consumer market in the world. There are no clear numbers for the whole of Europe, but Germany, Europe’s largest economy makes up only 3% of global consumer spending. Germany is also the third largest economy in the world next to China. In other words, Europe has NO capacity whatsoever to fill the void in trade left behind by the U.S. If the U.S. economy detaches from Europe, or if the U.S. economy crashes, Europe would crash also. This is a fact…
It’s safe to expect the EU to fold. They cannot afford not to.
