QUESTION #1: Are the reports and the data that we generally hear about economic news and development generally true or false? Do you see any significant difference in the market under the Trump administration and would you say it’s a positive difference?


Dan Celia:

“Well, I would say that the data is pretty close to being fairly accurate. I would say the reporting of the data is not. And I know that sounds goofy because they’re one and the same, right? But they really aren’t. I mean, the data is the data. If you look at the mathematics of the data, it is hard to, if you know where to look, it is hard to get it wrong; but the data can be reported wrong. And in fact, it can be wrong if there are certain factors added to the data that might give it an intentional negative slant or positive slant.

(Under the Trump administration) I think there’s going to be a dramatic difference in the data…but I don’t think there’s going to be much of a difference in the reporting, I think the reporting is just going to be slanted in a different direction. But I think that the data is going to get better, it’s going to get stronger, but here’s the ticket- it’s one of the things that an economist like me despises, is the fact that the data, and the way the data is reported, and the fact that the reality of the data is going to be based on, as we analyze the data, that analytics is going to be based on what has happened from a political structure.

And that is a terrible place to be because I don’t have to tell you about politics and how volatile that is. And that is the problem we have right now in the data.

I believe that what we saw in the markets since the election, I believe it’s real. I believe that it is not false positives. I believe the positives are very, very real. Here’s why it’s real, because it’s based on something that is anticipated, that is going to happen in the economy. That anticipation is because of the agenda that is being put forth by this administration.”

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