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Friday, September 07, 2018

But Hillary said unemployment would hit 6.8%

"The unemployment rate held near a generational low of 3.9 percent," CNBC reported today.

Wait. That cannot be. That was not what Hillary said would happen, and as everyone knows, she is the Smartest Woman in the World. She is never wrong.

"Hillary Clinton says Trump's economic policies will trigger another recession," The Guardian reported on June 17, 2016. The experts had told her so.

The story said, "To support her claims, Clinton seized on a report released on Monday by Moody’s Analytics that suggested Trump’s economic policies, if enacted, would trigger a 'lengthy recession'' and lead to the loss of 3.5 million jobs."

The report by Moody's Analytics said, " Mr. Trump’s economic proposals will result in a more isolated U.S. economy.

"Cross-border trade and immigration will be significantly diminished, and with less trade and immigration, foreign direct investment will also be reduced. While globalization has created winners and losers in the U.S. economy in recent decades, it contributes substantially to the ongoing growth of the U.S. economy. Pulling back from globalization, as Mr. Trump is proposing, will thus diminish the nation’s growth prospects."

Moody's said unemployment would hit 6.8% in 2018, and that the S&P 500 Stock Index would drop to 1,784.2.

If we stayed the course, Moody's assured us that Obamanomics would produce 4.6% unemployment and an S&P of 2,000.2.

Reality called. Not only is unemployment at 3.9% but the S&P closed at 2,878.05 yesterday -- a whopping one thousand points higher than Mark Zandi and his company predicted.

Why the man has his job is beyond me. People lost money due to his snide bad advice because they shorted the market on Election Night and were burned the next day. George Soros is said to have lost a billion by betting against The Donald.

Dumb pundits getting an election wrong are amusing and harmless.

Dumb economists like Zandi are dangerous. They hurt people. Think of the pension funds that relied on him for guidance.

I would not trust Moody's to walk a dog.

Meanwhile, wages are rising amid a tight labor market. Higher wages mean higher Social Security revenues which means at 65 and retired, I am more secure today than I would be under Hillary and the continuation of Obamanomics.

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Trump the Press covers the nomination.

Trump the Establishment covers the election.

Fake News Follies of 2017 covers his first year as president.

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9 comments:

  1. Like her "husband", the Beast is (to quote George Will*) too clever by a whole.

    Notice those two always get caught and have to rely on their media pals to change the subject?

    * Clock. Stopped. Right.

    You know the drill.

    ReplyDelete
    Replies
    1. The electric clock conveys to you,
      The precise time Hillary’s fuses blew.

      Delete
  2. 6.8%? Hillary's breathalyzer is higher than that.

    ReplyDelete
  3. Some competition for Paul Krugman as the worst economist of the century.

    ReplyDelete
  4. Don, I suggest Hillary is more humble than declaring herself to never err, more on the order of "I may not always be right, but I'm never wrong". Give the ol' gal a break.

    ReplyDelete
  5. Mark Zandi is on CNBC a lot and always thought things were great under Obama. He's totally liberal, don't trust liberals.

    ReplyDelete
  6. If I were charitable, I would argue that when Mr. Clinton argued that Mrs. Clinton was the Smartest Woman in the World, he meant when sober. As I am not, I suggest that Mr. Clinton as trying placate his wife lest he be hit by yet another flying ashtray.

    ReplyDelete