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Thursday, July 02, 2020

Trumping the experts — again



Never Bet Against Donald John Trump. I will give you 4.8 million reasons. That is the number of jobs President Trump added in June despite riots, looting, and fears of going outside.

The unemployment rate dropped to 11.1% in June, well below the prediction 32.1% by the experts just three months ago.

Democrat dreams of ending capitalism and turning America into Red China West vanish one job at a time.

The National Bureau of Economic Research declared a recession on June 8.

Every economic indicator since then has shown that claim to be premature and in error. Housing starts jumped. Housing sales jumped. Consumer confidence jumped. Business confidence jumped. The stock market jumped.

Two bad months do not a recession make.

NBER lied.

The experts were just plain wrong.

CNBC reported today, "Nonfarm payrolls jumped by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the corona virus pandemic, the Labor Department said Thursday.

"Economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%. The report was released a day earlier than usual due to the July Fourth U.S. holiday.

"The jobs growth marked a big leap from the 2.7 million in May, which was revised up by 190,000. The June total is easily the largest single-month gain in U.S. history."

We have added 7.5 million jobs in just two months.

Experts predicted the opposite. Instead of a quick and jolting recovery, they predicted a long slide down to poverty.

Forbes magazine reported on March 31, "With the coronavirus pandemic taking an increasing toll on the economy, some of the most concerning indicators show that widespread business shutdowns with weekly jobless claims reaching a record 3.28 million last week; meanwhile, leading economists say the unemployment rate could reach 30% as a result of the ongoing health crisis."

Unemployment peaked at 14.7% in April -- less than half that 30% forecast.

Forbes also said, "The corona virus outbreak could cost 47 million jobs next quarter, according to estimates by the Federal Reserve Bank of St. Louis. That would translate to an unemployment rate of 32.1%, well above the 24.9% rate it was at during the Great Depression."

Worse Than The Depression.

That is the Democrat wet dream -- even bigger than Worse Than Watergate -- because only by breaking capitalism will they get the all-powerful state that they desire.

Forbes said, "'It’s not a question of if the data will be worse — just how much worse,' says Mark Freeman, chief investment officer at Socorro Asset Management. The fundamental question, he points out, is how long these waves of large weekly jobless claims will last. The sharp hit to the labor market will have a 'pronounced effect on the consumer side' as well, he predicts: 'If you lose your job, your consumer confidence goes to zero.' The next thing to watch for, Freeman says, is 'how much wage growth slows from there.'"

It turned out, we had hit bottom even as the experts spoke.

President Trump's $3 trillion bailout of America saved small businesses and kept food on the table for the unemployed long enough to wait this mass agoraphobia out.

The Forbes story said, "Before the corona virus started to wreak havoc on the economy, the U.S. job market was on solid footing, with the national unemployment rate sitting at a roughly 50-year low of 3.5% in February."

Low unemployment gave the economy the foundation it needed to shake off this downturn quickly.

The Forbes story ended, "Surprising fact: A host of companies have said they won’t make any layoffs during the corona virus outbreak — most recently on Tuesday, both Bank of America and PayPal pledged not to do so."

Ah, once again don't go by what the experts say, go by what the people do. Neither Bank of America nor PayPal thought the downturn would last long. Both were proven right.

The experts said Donald Trump would not be nominated.

They said he would not win.

They said he would not fix the economy.

They said he would not get started on that wall.

They said he would not stop the Covid 19 Collapse of Civilization.

So what are they saying now?

Oh yes, that he won't get re-elected.

Expert/ˈekˌspərt/ Noun: A fool who convinces people he knows what he is talking about. Always wrong when it comes to Donald John Trump.

17 comments:

  1. Another one who will commit suicide while the cameras are all malfunctioning.

    https://jonathanturley.org/2020/07/02/epstein-confidante-maxwell-arrested-in-new-hampshire/

    ReplyDelete
  2. Black Lives Matter Exposes White Privilege.

    https://banned.video/watch?id=5efbb2b5672706002f38331e

    ReplyDelete
  3. An interesting fact.

    Are you aware that the average Child Predator will molest 7 children. This is the corruption that exists in the world. How is this possible? Releasing criminals because of a Hoax Virus is one answer. Look at the people who allow this to see the enemy who need to be eliminated.

    ReplyDelete
  4. Big D, I gotta go to Emmett Tyrrell again...

    “...the hard little truth that wealth is created by work and faith, and that without work life is not only penurious but also tedious and barbaric...Only when one comes to the topic of their occupations does one begin to see a human being. It is by selling paint or by bringing the kids to basketball practice that these people begin to experience humanity. Here they learn about others and they learn the important things about themselves. Moreover, they avoid mischief.”

    - The Liberal Crack Up, p. 212

    ReplyDelete
    Replies
    1. So, what REAL jobs do these protesters have, hmm?

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    2. The protesters apparently live off the grants of tax-exempt foundations and other nonprofits. Get rid of their tax exemptions and balance the budget.
      NB

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    3. Their only talent is creating CO2.

      Delete
  5. You need to know as I did not for a long time that the Top Law Enforcement Person in your County is the County Sheriff.
    If they are not following the Constitution in all of their actions they need to be removed. They are part of the Cabal. This indicates corruption in your area.

    ReplyDelete
    Replies
    1. Not sure about that. What can the sheriff do if the DA declines to prosecute?
      That said, our local sheriff stuck his neck out with an oped in the local paper saying he would not enforce unconstitutional dictates from the state. I sent him an email thanking him for that--got a very gracious reply in ten minutes.
      I don't need to be friends or even first name basis with the local police, but I do want to be on the best terms possible with them. Respect can go both ways.

      Delete
  6. It is time to dial up corona panic to 12. Nothing else is working for the liberals/communists.

    ReplyDelete
    Replies
    1. It is coming before the November Election. How else can you corrupt the elections via Main in Votes?

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    2. Its already 11.5 using false positive covid tests, now adding positive COMMON COLD virus test results to the 19 test, even when test proves negative for covid 19. Working on 3 states so far that are shutting down restaurants, bars, gyms again.

      Delete
  7. Expert is a compound word:

    ex - former, has-been
    spert - drip under pressure

    ReplyDelete
    Replies
    1. x is also used to denote something unknown.

      Expert - someone who knows more and more about less and less until he/she know everything about nothing.

      Delete
  8. "despite riots, looting, and fears of going outside." The mainstream media is making a mountain out of a molehill, and even Conservative media is eating it all up. This is the French and Bolshevik Revolution all over again but the attendance figures are less than for a good Trump rally. We are exhorted to be brave and stand up to the mob, but I can't imagine why. We've had bigger and better riots in our past, but as long as we win the coming election this too shall pass.

    ReplyDelete
  9. 7.5 million jobs in 2 months. That's 1/2 of Obama's total for 8 years.

    Going to be a lot of gnashing of teeth and whining from the marxists on this one.

    ReplyDelete