Skip to comments.Billionaire Ken Langone: 'This economy is booming,' and Trump deserves a lot of credit for it
Posted on 09/20/2018 10:05:59 AM PDT by 2ndDivisionVet
President Donald Trump's economic agenda is fueling a resurgence in the economy that cannot be denied, billionaire businessman and philanthropist Ken Langone told CNBC on Thursday.
"This economy is booming," said Langone, a longtime supporter of GOP candidates who was not always a fan of Trump. "I think he's made a lot of moves that are constructive to the economy."
Since Trump took office, the gross domestic product is growing at a 3 percent-plus rate. The unemployment rate is currently around a 50-year low.
Langone, co-founder of Home Depot, said "every indicator" for the moment is showing a clear path for economic growth.
Transportation companies, often a leading indicator, are doing great, Langone said in a "Squawk Box" interview. "My truck leasing business, we can't get delivery of new trucks until next spring."
The corporate tax cut, championed by Trump and Republicans on Capitol Hill, has certainly been a boon to growth, but wiping business regulations off the books has been the main driver, Langone said.
"Deregulation is having a profound impact of the mindset of businesspeople" who are more willing to invest and grow their companies, which in turn translates into a stronger economy, said Langone, also founder and chief of investment bank Invemed Associates.
Langone also said he agrees with J.P. Morgan Chase CEO Jamie Dimon, who told CNBC interview Thursday that the escalating U.S.-China trade dispute is a "skirmish" rather than a trade war.
"Jamie is right. It's a skirmish. It's a tactic," Langone said. "It's in our mutual interest to fix it. China is better off with a revised deal than no deal."
The Trump administration on Monday announced tariffs of 10 percent on another $200 billion worth of Chinese imports, rising to 25 percent at the end of the year....
(Excerpt) Read more at cnbc.com ...
How long until he “walks this back” a bit?
This “stellar” economy would not have occurred in the absence of President Trump.
That would be a good question about anyone other than Ken Langone.
Langone doesn't walk back.
If everyone attacked by a rogue prosecutor had the ___ of Ken Langone, the world would be a better place.
The article below from 2006 is worth reading all the way to the very last line.
Bookmarked for later.
FRAK = fracking
KOL = Coal
XOP = oil and gas exploration
Will look into them.
Dribs and drabs buying if I do.
The Kenyan excrement for brains thinks this is his economy
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