I keep telling you guys, the continuing decline of business investment is THE econ story for 2018-19.
Some details on those bad 3Q business investment numbers out today. Remember: the tax law was supposed to cause a sustained increase in biz investment. Not only hasn't that happened, but we're now underwater.
(and clearly this isn't just abt the trade wars & uncertainty, but just as clearly: it ain't helping!)
Also pls note: the nationalist neomercantilists in the WH promised us that the tariffs and uncertainty (making the USA a "safe harbor") would boost investment in the USA. Oops.
Now let's take that great chart from @DonFSchneider and my earlier chart (w just the topline biz investment number for 2017-present) to complete the thread...
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