A surprising scene unfolded at Davos this week when Commerce Secretary Howard Lutnick found himself heckled by former Vice President Al Gore during a public address. The interruption, however, seemed to barely register as a slight for the Secretary, who later described it as a highlight of his trip.
The incident brought to mind Gore’s past predictions, notably his 2008 claim that the North Polar ice cap would vanish within five years. That forecast, like many others, failed to materialize, with both the North Pole and Greenland remaining firmly covered in ice and snow.
Lutnick, speaking with Jesse Watters, painted a picture of a remarkably strong American economy. He indicated current economic indicators suggest a growth rate of over 5% for the current quarter – a figure not seen in years.
He suggested this growth occurred despite headwinds from the Federal Reserve, alleging that Jerome Powell actively worked to undermine the economic progress during the previous administration. The Secretary believes a deliberate effort was made to weaken the United States economically.
Lutnick described a prevailing “globalist” mindset that, in his view, prioritized spreading wealth rather than fostering domestic prosperity. He argued that the United States had been effectively exporting approximately 4% of its GDP growth to other nations.
This trend, he stated, was directly challenged by Donald Trump, who demanded an end to the trade deficit and the practice of exporting economic growth. Trump’s implementation of tariffs led to a significant decrease in imports and a corresponding surge in exports.
The results were immediate and substantial. The economy experienced a 4.43% growth rate in the third quarter, validating the anticipated outcome. Lutnick confidently predicts that the current quarter will surpass even that figure, exceeding 5%.
According to Lutnick, the United States is poised to become the fastest-growing major economy globally, a direct consequence of prioritizing domestic growth and reversing the previous policy of exporting prosperity. He attributes this turnaround directly to Trump’s determination to bring economic benefits back home.
