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Friday, March 10, 2017

Jobless claims are at a 44-year low

No $700 billion TARP.

No $50 billion bailout of GM.

No $787 billion stimulus.

Just a president with a promise to cut taxes, cut regulation, and Make America Great Again.


No lectures on "this is not who we are."

No crap about "you did not build that."

No apologies for things that happened a century or two ago.

Just a president with a promise to cut taxes, cut regulation, and Make America Great Again.

After 28 years of a slow and continuous decline in the vision and quality, we have a president who rebukes the New World Order and puts America's interests first.

Vulgar? Who got the hummer from an intern in the Oval Office?

War monger? Gulf War, Bosnia, Afghanistan, Iraq, Libya, Somalia, Yemen, do I need to go on?

Says things? These are the same little bitches who whined when Reagan said 34 years ago:
Yes, let us pray for the salvation of all of those who live in that totalitarian darkness—pray they will discover the joy of knowing God. But until they do, let us be aware that while they preach the supremacy of the State, declare its omnipotence over individual man, and predict its eventual domination of all peoples on the earth, they are the focus of evil in the modern world.... So, in your discussions of the nuclear freeze proposals, I urge you to beware the temptation of pride—the temptation of blithely declaring yourselves above it all and label both sides equally at fault, to ignore the facts of history and the aggressive impulses of an evil empire, to simply call the arms race a giant misunderstanding and thereby remove yourself from the struggle between right and wrong and good and evil.
The Evil Empire. Remember? The Soviet Union was evil. The Soviet Union killed 100 million of its own people to maintain power, and even allied with Hitler in World War II, until he turned on them.

We are the Good Republic.

We now have a president worthy of this great, wonderful land.

The stock market grew 10 percent since patriotic Americans elected Donald John Trump president.

This happened without a $4.5 trillion bailout of the stock market, which the Federal Reserve euphemistically called "quantitative easing."

Which leads to today's announcement from the Department of Labor that the unemployment rate dropped to 4.7% in February on a net gain of 235,000 jobs following a net gain in January of 238,000 jobs. That is 473,000 more jobs in just two months.

Things have not been this good since 1973.

"At the same time, jobless claims are at a 44-year low, the stock market is surging, and consumer spending is growing, bolstering the case for those who argue the economy is strong enough to withstand a rate increase," the New York Times reported.

We have only begun to win.

More from the New York Times:
Recruiters and employers complain that qualified workers are scarce, pushing them to raise wages, strengthen benefits and offer cushier amenities at the office. “There is a war for talent,” said Lauren Griffin, senior vice president at Adecco Staffing USA. “We’ve got people in orientation classes and they get up and leave because they’re contacted about another job that might be more money.”
Even lower-skill workers in some sectors are finding themselves in more demand. The year-over-year wage gains for store managers and cashiers, for example, were twice the national average, said Andrew Chamberlain, chief economist at Glassdoor, a career website.
Bigger paychecks are something that most Americans, after years of stagnant wage growth, are particularly eager to see. The Federal Reserve, too, has been waiting for an increase, but it is also wary of wages rising too fast. The board’s members want to head off incipient inflation and so have begun to slowly raise rates, which makes borrowing and risk-taking more expensive. At the same time, the Fed wants to avoid putting the brakes on job hiring, especially since the benefits of the eight-year-old recovery have been so unevenly distributed.
What we used to call Reaganomics is back.

Under President Trump, we call it something simpler.

Capitalism.



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19 comments:

  1. "Which leads to today's announcement from the Department of Labor that the unemployment rate dropped to 4.7% in February on a net gain of 235,000 jobs following a net gain in January of 238,000 jobs." I doubt that 4.7% figure, still figured by the leftover Obama methods, but the jobless claims at a 44-year low IS a really good sign.

    ReplyDelete
    Replies
    1. "Unexpectedly"! Attached to good news for a change.

      Delete
    2. I've been trying to figure out how and when Trump is going to correct that BLS nonsense. Could just wait until U5/U6 goes to zero. Boom. (literally)

      Who knows? He will no doubt correct it though.

      Delete
    3. Me too, RG. It stuns me how many people are clueless about what that rate truly means, and how it is weaponized as a political tool depending on who the president is. They are literally brainwashed by propaganda.

      Delete
  2. Following the 12 election Peter Thiel gave a talk at a National Review conference attended by all the usual anti Trump elite suspects, although DT was of course "unknown" then. In his speech he blamed Obama and his administration for indolence in enhancing any kind of innovation in any industry, saying he believed Karl Marx himself, because he was a perpetual optimist, would have been better for the US than his modern counter part. He even said Lenin with a defined 5 year plan would have been more useful than the random focus of the Perpetual Golfer. Thiel saw then that Obama was only interested in regulation and suppression, not expanding the pie and helping he middle class, which in the same speech, he saw as under the threat of extinction by the billionaire class aligned with the permanently "oppressed". His support of Trump so far has proven right. Hemingway said happiness is "an anticipation of good things to come". Trump has made many happy, proving Hemingway was right. I hope there will be many more optimistic reports like this in Trump's terms and that the pessimism and misery of Obama Dark Age will vanish, as though it never happened.

    ReplyDelete
  3. Trickle down economics beats trickle up poverty any day of the week.
    libby

    ReplyDelete
  4. No SERVICE employment shifts to speak of.
    Construction breaking out.

    (New Permits off the scale--wait for that one...)

    #MAGA #WithRealFullTimeJobs

    Kryptonite to Liberals/Socialists/Communists

    ("Little Bitches"...:::snort:::)

    ReplyDelete
  5. 30 times during Obama's two terms, the U.S. monthly net job growth exceeded 235,000 jobs.
    What is Trump going to do about the 94 million Americans who are unemployed? These are Trump's numbers mind you.
    Are the Rs in Congress going to agree with Trump's $1 trillion (with a "T") stimulus plan?

    ReplyDelete
    Replies
    1. 30 out of 96
      Trump is 2 for 2

      Delete
    2. What did Obambi do about those millions of unemployed?
      Offer food stamps and service sector low wage,temporary, and service sector jobs?

      Delete
    3. Most job growth under Obama was in part-time and unskilled jobs, so the numbers themselves don't mean much.

      Delete
    4. Jeff - foolish, foolish comment and a total alternative fact.

      So, what is everyone thinking of Trump's $1 trillion stimulus plan?

      Delete
    5. when the 94,000,000 see they can actually get a job without having to compete with illegals..
      (happened to me, btw.)Demand and
      supply works ever time.. TG McCoy

      Delete
    6. Anon 11:14 am - epic argument. You showed me! Ten seconds on Google reveals http://www.zerohedge.com/news/2016-12-23/top-white-house-economist-admits-94-all-new-jobs-under-obama-were-part-time

      Delete
  6. A friend on chemo says his attitude and outlook are more important to him than the results of his CAT scans. I don't remember having a single day of optimism during Obama's reign of misery and vanity. More people will work under Trump because they will feel it is in their interests to do so since they believe their future will be better if they do. Only optimism has such an effect.
    Meanwhile back at the ranch the Krugman stimulus kommandos at the WaPo are claiming 1T is not enough, only 4.5 will do. Anything to divert attention from DT success so far since Putin pollution failed. Better to make impossible demands then claim you were right all along as soon as the inevitable market pull back occurs, but before yet higher peaks are attained.

    ReplyDelete
  7. "The board’s members want to head off incipient inflation and so have begun to slowly raise rates, which makes borrowing and risk-taking more expensive."

    For the last 10 years with rates so low borrowing amounted to free money I've been concerned about the amount of money printed fueling an explosion in inflation AND interest rates. I for one am damn glad to see some increase in rates; the additional cost of borrowing will be outweighed by certainty in the regulatory arena and tax reform. IMHO prime rates in the 4% to 6% range are about ideal.

    ReplyDelete
  8. Don - your trolls like Anon 11:14am are notoriously low quality and too easy to destroy. Work on that, willya? LOL

    ReplyDelete
  9. The Left does not yet comprehend that their March Through The Institutions is over, and that Trump's intention is no simple holding of the line on to-date Leftist gains.

    It's Jump On Corregidor time, man.

    ReplyDelete