A lot of things happened. Here are some of the things. This is TPM’s Morning Memo. Sign up for the email version.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1479556
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1479556
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Live updates: Another shockingly good jobs report shows America’s economy is booming (cnn.com)
- The January jobs report showed that the US economy added a stunning 353,000 jobs last month, confounding market expectations Friday morning and pushing up Treasury yields.
- The unemployment rate stayed at 3.7%.
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And here’s why this is bad news for Biden.
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Y’know, this Brandon guy might be on to something.
…a “sick fuck” and “a fucking asshole.”
About sums it up for me. And Larry Kudlow is always wrong.
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This is a better start to the morning. Hopefully more dominos to fall soon.
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What I love from the Naula article (https://archive.is/q9MEI#selection-1691.0-1695.442):
When Trump departed the White House under the ignominy of the Jan. 6 insurrection, Nauta was part of the detail assigned to help him readjust to private life, a temporary perk afforded all former presidents.
Trump’s detail, however, was yanked back to D.C. just weeks later, three people with knowledge of the matter told The Daily Beast, an unusually early termination. That’s because, in the new administration’s view, Trump—who has been catered to hand-and-foot since childhood and whose personal residence doubles as a full-service private club—did not need to be weaned off the royal treatment, three sources said, let alone at taxpayer expense.
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President Biden is reported to be unsparing in his private criticisms of Donald Trump, calling him a “sick fuck” and “a fucking asshole.”
Well its the f♤cking truth!
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I’m just glad I’m not holding my breath for those dominoes to start falling.
I don’t look THAT good in blue.
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Louisiana excercises it’s constitutional right to bully, harass and poison the citizenry.
Louisiana’s far-right government has quietly obtained hundreds of pages of communications between the Environmental Protection Agency and journalists, legal advocates and community groups focused on environmental justice. The rare use of public records law to target citizens is a new escalation in the state’s battle with the EPA over its examination of alleged civil rights violations in the heavily polluted region known as “Cancer Alley”.
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Stop the Stall.
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Certainly how I feel
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So, if I understand Kudlow, the economy is in a downturn and slump, but the last two quarters showed solid growth. In short, don’t let the facts fool you.
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The new report comes a week after a former WWE employee filed a lawsuit against McMahon, WWE and another former executive alleging sex trafficking and containing startling allegations of sexual misconduct.
.
Also
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Exactly… but…
I still wish he would consider the wisdom of LBJ’s 1968 move.
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Excerpt:
Fetterman, meanwhile? He seems to find the pain of people in Gaza, the distress of his constituents who want the bloodshed to end, very amusing. The US has always been firmly pro-Israel but Fetterman doesn’t just toe the line on the issue; he’s drawing new lines. In November, he mocked protesters arrested at a ceasefire demonstration in Washington DC by waving an Israeli flag at them and grinning. The man took the time to walk back into his office to grab an Israeli flag so he could taunt the protesters: that’s not just toeing the line, that’s being unnecessarily callous and cruel.
As the Palestinian body count goes up, Fetterman hasn’t modified his hawkish stance at all. On the contrary, he has continued to mock people who want an end to this bloodshed and recently broke with the vast majority of Democrats to vote against a resolution reiterating US support of a two-state solution. Last week he unfurled a huge Israeli flag from the rooftop of his home in response to protesters accusing him of aiding genocide. He seems to think this is a hilarious thing to do.
I’m not saying that Fetterman shouldn’t be allowed to talk about his depression just because he seems impervious to the suffering of Palestinians. But the fact that he has been given this book deal while he’s mocking people who are in mourning is a stinging reminder that not everyone’s pain matters.
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YEP, very disappointed in Fetterman over this… But at least he’s not OZ
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Defying all expectations. It’s so good that the focus will be on now the Fed won’t be cutting interest rates soon enough.
https://www.reuters.com/markets/us/us-job-growth-surges-january-wages-rise-2024-02-02/
WASHINGTON, Feb 2 (Reuters) - U.S. job growth accelerated in January, likely as a resilient economy and strong worker productivity encouraged businesses to hire and retain more employees, a trend that could shield the economy from a recession this year.
Nonfarm payrolls increased by 353,000 jobs last month, the Labor Department’s Bureau of Labor Statistics said on Friday. Data for December was revised higher to show 333,000 jobs added instead of 216,000 as previously reported. Economists polled by Reuters had forecast payrolls increasing 180,000.
Estimates ranged from 120,000 to 290,000. Employment gains remain well above the roughly 100,000 jobs per month needed to keep up with growth in the working age population. Nonetheless, labor market momentum has slowed from the robust pace in 2022 because of hefty interest rate hikes from the Federal Reserve.
Still, job gains are more than sufficient to sustain the economy through strong consumer spending.
Average hourly earnings increased 0.6% last month after rising 0.4% in December. In the 12 months through January, wages increased 4.5% after advancing 4.3% in the prior month.
Annual wage growth is well above its pre-pandemic average and the 3.0% to 3.5% range that most policymakers view as consistent with the U.S. central bank’s 2% inflation target, supporting views that March is probably too early for the Fed to start cutting rates.
The unemployment rate was at 3.7% in January. January’s unemployment rate is not directly comparable to December’s 3.7% rate. New population estimates were incorporated into the household survey, from which the unemployment rate is derived.
The Fed left interest rates unchanged on Wednesday, but Chair Jerome Powell offered a sweeping endorsement of the economy’s strength, telling reporters that interest rates had peaked and would move lower in coming months.
Most economists are dismissive of recent high-profile layoffs including 12,000 job cuts announced by United Parcel Service (UPS.N), opens new tab this week, arguing that the focus should be on worker productivity, which has exceeded a 3% annualized growth pace for three straight quarters and cooling labor costs.
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“plead guilty to committing perjury during his testimony in the civil fraud trial brought by state Attorney General Letitia James,”
One might wonder if this had anything to do with Engoron needing/wanting a little more time on his decision…probably not, but one has a vivid imagination…
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