Secretary Wilbur Ross Discusses Florence and the Economy….

Secretary Wilbur Ross is in North Carolina today touring the NOAA facility and listening to projections of how long Hurricane Florence may disrupt rail, road and shipping transport.  Mr. Ross then calculates the economic impact.

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This entry was posted in Economy, Hurricance Florence, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA, Weather Events. Bookmark the permalink.

28 Responses to Secretary Wilbur Ross Discusses Florence and the Economy….

  1. Mike diamond says:

    We love wilbur!

    Liked by 8 people

  2. Mike diamond says:

    We love wilbur! He is a real American!

    Liked by 3 people

  3. Impossible says:

    Direct. Clear. Informative. Sincere and honest…why is this not the pattern of every Federal employee?

    Liked by 11 people

  4. fleporeblog says:

    It is amazing that the only thing that can slow down our Economic Train is Mother Nature. We saw that last year with Harvey in Texas and Irma in Florida. We were headed for a 3rd Quarter real GDP of rate of 4%+. The 3rd Quarter last year ended at 2.9%.

    The latest forecast from the Atlanta Federal Reserve has the 3rd Quarter real GDP rate at 3.8%. That was revised downward on September 11th. Florence didn’t factor in that forecast. Tomorrow, they will be updating their forecast for the 3rd Quarter.

    Liked by 8 people

    • GB Bari says:

      Flep – do they ever explain why they upgrade or downgrade the forecast when they make these adjustments?

      Liked by 2 people

      • fleporeblog says:

        GB Bari they do! If you hit the link to their
        website, they explain their rational every time they update the forecast.

        From the link attached to my tweet:

        After last Friday morning’s employment report from the U.S. Bureau of Labor Statistics, the nowcasts of third-quarter real consumer spending growth and third-quarter real gross private domestic investment growth decreased from 3.3 percent and 15.9 percent, respectively, to 3.0 percent and 14.0 percent, respectively. The model’s estimate of the dynamic factor for August—normalized to have mean 0 and standard deviation 1 and used to forecast the yet-to-be released monthly GDP source data—declined from 1.11 to 0.41 after Friday’s employment report.

        Like

    • Turranos says:

      Many thanks for the update Flepe. I could listen to our Wilburine all day long.

      Liked by 1 person

  5. Bendix says:

    Another economic indicator, a very small one, that I noticed locally?
    One of those “feeding kids in the park like pigeons” SJW programs had a drop in participation.
    The people running it so this as a cause for concern, and were therefore happy to report that usage started to “tick up” steadily.
    Imagine being disturbed that fewer parents felt incapable of giving their own children lunch, when the school wasn’t there to do it for them?

    Like

    • jmclever says:

      They have a vested interest in its continuance. At the least, people will be laid off when those programs are no longer necessary. Same will go for all govt assistance programs. Look for participation criteria to broaden to keep bureaucracy going.

      Like

      • Elle says:

        They did those free lunches where I live. There were usually a few people that looked like they needed the free lunch and I’m happy for them. But most people in line were well dressed, soccer mom/dad types who happened to be at the park when the trucks showed up. Most, easily 75%+, would decline to participate except the lunch crews encouraged them to eat, saying they have to throw it away if not eaten. The waste was unreal, at least 20%, since you are instructed to throw away what you don’t eat on the spot. Beautiful oranges, apples, untouched sandwiches and unopened milk cartons spilling out of the.trashcans; not to mention how much the food truck must throw away because they don’t give it all away.

        Often, day cares showed up with 15-20 kids for the purpose of combining a field trip with saving money on lunches. And that’s the flaw. The kind of people that truly need a free lunch are rarely the type that plan ahead knowing when and where to go, much less actually getting the kids out the door, in the car and to the park for one meal.

        So all that money, energy, payroll and time to feed one, maybe two families who are in need. It was incredibly wasteful considering the money spent per target family.

        Liked by 1 person

        • Amy2 says:

          They had that in our county as well. Our homeschool group would meet at the springs every Friday, and the truck would pull up because they had leftover lunches! We usually brought ours cuz my kids were spoiled (not big fruit eaters) but most families would take them home because they felt sorry for the people who did the work to make/distribute them.

          Like

  6. MaineCoon says:

    There’s no end to the capabilities of wolverine Ross. Like his boss he’s always thinking ahead of the curve. Never have I ever heard anyone in any previous administration approach an oncoming hurricane from this perspective, and, like his boss, they will pow wow over some economic solutions. I am quite impressed by this video. It was educational giving me another dimentional perspective regarding hurricanes.

    Liked by 5 people

  7. jmclever says:

    Wilburine subtly saying hurricane blocking imports might be good for economy…[sniker]. But you’ll see once again how America truly works. Cajun Navy at the ready Im sure

    Liked by 2 people

  8. YvonneMarie says:

    Trump getting ahead of the trauma here, which is his way of working
    In government as well as business.

    Like

  9. Pam says:

    This man is just amazing. I think I could listen to him talk all day. You just don’t get on the wrong side of Wilburine. Just sayin’ 😉

    Like

  10. Tammy Bruce on Lou Dobbs:
    Barack Obama didn’t have a clue…

    “Donald Trump didn’t have a Magic Wand … he IS the Magic Wand!”

    Liked by 2 people

  11. kea says:

    I love Wilbur Ross

    Like

  12. Stillwater says:

    Here is another clip.

    Like

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