Blowout Increases in GDP and Personal Savings; Major Trade Deal with Europe; A Financially Fragile China Adds More Debt

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In-Brief

1. The US economy grew at a robust 4.1% in the latest quarter.
2. US household savings rates jumped in unexpected good news, especially as consumer spending is also strong.
3. The US and Europe agreed to seek a trade deal reducing tariffs and barriers to free, non-predatory trade.
4. China once again adds to its already huge debt burden.
5. PREDICTION: The Democrats will gain 5 to 15 US House seats in the midterm elections.
6. PREDICTION: The Democrats will lose 4 to 7 US Senate seats in the November elections.