Republicans did the same in the Missouri legislature. Conservatives always turn back citizen initiatives. Only the Top 1% can be trusted to come through with bribes?
2 Likes
Itâs really no surprise, first month the democrats are in charge of the house and hiring stops, job creators donât like presidential harassmentâŚ
1 Like
The Labor Department says the unemployment rate fell to 3.8 percent from 4 percent.
Iâm actually surprised at this seeing as a good number of large retailers (Sears, 9 West, Remington, Claireâs, etc.) have gone tits up in the past few months. Are those people not collecting UI anymore? Are they not looking? Just confused at this.
1 Like
Cue the Donnie tweet claiming numbers are rigged, fake newsâŚ
2 Likes
The Jan numbers were apparently revised upwards slightly. Dec was revised downward by about 70k, which seems like a lot to me.
The Jan numbers look, per economists, to have been inflated because of the shutdown. People sought temp jobs to pay the bills while the govât was shut and they werenât getting paid. The Feb numbers in the past few years have generally been low because it has become our most severe weather impacted month in an era of climate change, but 20k is really low. To be fair, Iâd wait to see March and April data before concluding anything.
On the other hand, a low 20k month following a month in which a shutdown ended and a lot of work and projects resumed with money being put back into the system does seem a little worrying. I wouldâve expected some stimulus to keep the train going. The experts had estimated 180k probably based on similar assumptions.
Over the past 2 years, weâve seen Trumpism take a bite out of various sectors: travel/tourism, foreign auto sales, agriculture exports, softening real estate, higher prices for commodities b/c of trade war, lower productivity because of restrictive immigration policies. Weâve also seen exploding deficits, higher interest rates and higher costs for health insurance, auto loans etc. We also know that many middle class to upper middle class Americans are getting screwed by the Trump tax law because more income is being subject to tax and the economic wealth generating effect of home ownership has been cut due to the cap on SALT deductions and professional services firms canât deduct as much in the way of business expenses. Itâs a matter of time before all that hits. It has already put a ceiling on the growth rate. Given the amount of stimulus weâve had the growth rate shouldâve been higher, but it is trending lower than Obamaâs 2nd term.
It would not surprise me to see the 2019 average job growth to be under 150k and even down to 100k. Itâs also possible that it trends lower as I donât know what supports are there for the economy should employers scale back. My own anecdotal impression was that in December most corporate type folks were acting like 2019 would be a pre recessionary period.
10 Likes
Putin has had his eye of that for sometime. You better act fast before he takes that and Oregon/Washington/Alaska. Like who is going to stop him? Donald owes Russian banks hundreds of billions. His Wall is being built on the Mexican border to stop women with children not to stop the Russian Mafia.
2 Likes
Did you vote for or against McCaskill in the last election? Gawd, I see her on MSNBC a lot nowâŚlike right now. She irritates me. I can see why she lost. Still, she would have been better to have in the Senate than the jackass you have now. But now I wish Claire would just STFU and go away. She still canât let go of AOC and Omar and basically anything the new freshman class in the House does. She constantly comes off as a sore loser and so annoying.
4 Likes
The Treasury yield curve had been steepening a bit and is now close to inverting. That is not a good sign.
2 Likes
Can you keep the fucking snowmobiles out of it then?
4 Likes
As you have noted before, CNBC delivers the point of view of large institutional investors and the financial elite. For the investor class, the fact that growth is slowing, spending is slowing only means that interest rates will not rise in the near future â so they can keep gambling on Wall Street with cheap borrowed moneyâŚ
I canât remember how many times during President Obamaâs administration when a monthly jobs report was released, that the financial news reported, âThe economy reported better-than-expected jobs numbers last month, raising fears of another interest rate hike.â
13 Likes
First thing to goâŚ
3 Likes
A forlorn hope. The house burning down around them, sweat glistening on their cheeks, smoke coming off their clothes, and they keep saying, âThis is good.â
4 Likes
Yep. Those financial news channels do nothing but spin for the investor class and usually big investors, not the little guy unless its to pump up a particular stock that no one has done their homework onâŚIts like one long commercial for Wall Street. Frankly, its not much better than those commercials to buy gold in some respects. Pure poppycock. Its no way for the average investor to develop a portfolio for retirement, thatâs for sure.
8 Likes
When Claire supported Obama over Hillary, I thought maybe she had seen the light. But letâs face it. Itâs going to take a big push from Generation X,Y and Z to get rid of the last vestiges of the Centralists. Maybe a new recession might be the magic bullet? How many have these younger workers seen in just their short adult lives? Three or four? This period of economy history has been worse for American workers than that series of runs on the banks after the Civil War. It took Teddy Roosevelt turning on his own party to stop that rift by breaking up the Trusts. So when do they start talking about ending monopolies again? Is that socialist enough for a generation who canât afford a house or even a decent car? .
2 Likes
Thank you for mentioning the state minimum wage increases. I have been amazed at the total lack of attention to this, which is the obvious reason that conditions have been improving at the bottom of the economic ladder. These changes also ripple through the entire economy and result in wage increases up the employment chain. The failure of the Democrats to be running on this issue - or even mentioning it - is both shocking and disheartening.
6 Likes
That 311,000 jobs will be down graded by 100,000 or more when they revise the numbers as they usually do.
If that holds true for February, we could see a net loss of jobs, altogether.
The sugar rush from the tax break is definitely over, and it has left the elite feeling bloated and cranky.
4 Likes
Next on CNBC: âHow you can profit from the upcoming global recession.â
4 Likes