Yea……..more like a pundit playing to his crowd, in my view.
I try to be precise with definitions. If this guy ever said “the economy is in overdrive” to my face, my first request to him would be “please define ‘overdrive’”.
Where this usually gets sticky is in matters of economic policy. For example, with the recent Trump tax package, you heard a mantra repeated over and over again, which was “tax cuts don’t work”.
Well, how do you define “work”?
If you define “work” as “the poor will get richer because of the tax cuts”, then you’re right, they don’t always work. Because the poor only benefit from a lower tax rate if the rich decide to invest their new surplus in businesses, which they may or may not do depending on other variables in the economy.
However, if “work” means “increased asset value prices”, then hell yes, tax cuts “work”. :-)