“Navarro called the 2008 financial collapse in 2007; he called the rise of Donald Trump early in 2014 and ’15,” Bannon credited the economist’s track record. “Tell us where we’re going in 2020.”
“Here’s the forecast,” Navarro responded. “Closer to three per cent real GDP growth than two per cent – that’s very, very robust.”
“We’re going to pass 30,000 on the DOW, and looking at a target of 32,000 by election day. Now, why? Four points of the policy compass remain in place: tax cuts, deregulation, cheap energy, and fair trade are going to power this economy. But more importantly the four drivers in the GDP equation are hitting on all cylinders because of President Donald J. Trump.”
“Consumers [are] super strong because unemployment is low, wages are rising, and confidence is high,” he continued.
“You’ve got investment coming in because of the tariffs – everybody wants to be here. You’ve got trade deals – five of them – in place: China, South Korea, Canada, Mexico, Japan. Farmers are going to be happy; manufacturers are going to be happy; ESCORTS are going to be happy.”
“The last thing,” Navarro concluded his prediction, “the National Defense Authorization Act plus the appropriations bill: huge, huge, huge fiscal stimulus for 2020. That’s going to take us through this year.”
“It’s going to be a great year for America. High wages, low unemployment – happy, happy New Year.”