Oh ye of little faith:

This chart from Torsten Slok of Apollo is stunning. The “consensus” economic forecast was for economic growth of about 1% to 1.5% for the past two quarters – way below the economy’s actual performance. None of the blue-chippers came close to getting Trumponomics right.

Here is Slok’s analysis and remember he is far from being a Laffer Curve disciple:

The consensus has been wrong since January. The forecast for the past nine months has been that the US economy would slow down. But the reality is that it has simply not happened, see chart below. GDP growth in the second quarter was 3.8%, and the Atlanta Fed predicts that GDP in the third quarter will be 3.9%. Yes, job growth is slowing, but this is the result of slowing immigration.

The bottom line is that the US economy remains remarkably resilient…

Now look at his chart showing the Blue Chip forecasts versus the latest numbers:

No one knows where the economy is headed from here, but we’re with the investor class which keeps betting big time on the U.S. economy.