SHORT TAKES ON THE DRIFTING WRECKAGE – OVERNIGHT: 

THEY'LL BLAME IT ON TRUMP – OVERNIGHT, FROM FOX BUSINESS:   U.S. economic growth decelerated in the third quarter as consumer spending slowed amid a resurgence in new COVID-19 cases and as government assistance payments decreased.  Gross domestic product – the broadest measure of economic performance – grew at a 2% annual rate during the three months through September, the weakest of the recovery, according to an advance estimate released Thursday by the Commerce Department. Analysts surveyed by Refinitiv were expecting 2.7% growth. Second-quarter GDP was 6.7%.  "The Delta wave of infections, the waning fiscal stimulus and shortages, particularly of motor vehicles, triggered a marked slowdown in consumption growth," said Paul Ashworth, chief U.S. economist at research firm Capital Economics.   Personal consumption grew at a 1.6% pace after accelerating 12% during the second quarter. Businesses have since the reopening of the global economy struggled to keep store shelves stocked due to supply-chain bottlenecks and labor deficiencies. The supply shortages have resulted in higher prices for the consumer.  If present trends continue, the economy will be the number one issue in the upcoming midterm elections.  Following close behind, though, could easily be education, especially the fight for school choice and the role of parents.  I can't see how Democrats can win on these issues, but unforeseen events can prove us wrong.

October 28, 2021