Thanks Trump

wildchild

wildchild

We all remember Obama saying that GDP growth at 2% or below was the new norm and there was nothing anyone could do about it. Now we have this.

156,562,000: Record Employment for 12th Time Under Trump

It really shows why we need competent leadership and not community organizers running things. Thanks for the economy Mr President.
 
Wages and salaries jump by 3.1%, highest level in a decade
  • Wages and salaries rose 3.1 percent in the third quarter, the biggest increase in a decade, according to the Labor Department.
  • Overall compensation costs were up 2.8 percent, ahead of Wall Street expectations.
  • Wages have been the missing piece in the economic recovery, though the Fed has been raising rates to guard against future inflationary pressures.
https://cnb.cx/2CSJaOA
 
Ironically the stock market considers this bad news as it implies more hawkishness from the Fed, a body of ivory tower economists with no trading experience. Market players are expecting the Fed to repeat its traditional mistake, viz. raise rates into a slowdown on the basis of late cycle and lagging data. That's what employment data are, the laggiest of data.
 
There is something elitist and unfair about a bunch of government bureaucrats deliberately trying to tank the economy on the grounds that the working man is finally at long last sharing in the rewards. That's what all the hand wringing about wage increases represents. No one was upset when CEO's were shipping jobs offshore and cashing obscene bonuses or 25 year old Wall Street assholes were being paid more in one year than a coal miner would make in a lifetime.

That was all ok, with both dem and rep administrations. Now Trump is finally getting some of the fruits down to the working class and the Fed is determined to put a stop to it. No wonder he is furious and calling them out.

BTW all you trad republicans out there who see nothing wrong with any of this, how in the hell are we going to pay off all the money Obama borrowed, courtesy of the Fed's zero interest rate policy, if the economy tanks?
 
The party agnostic rich will never let you keep money. As soon as the middle class get any fat on them a mechanism is found to relieve them of their savings.

This process is starting in in Colombia now and it is a shame to see.

The debt created to engorge the super wealthy is being be used to justify defunding and lowering whatever return on investment the average American gets from his taxes.

Surprised?
 
AAAintheBeltway said:
Ironically the stock market considers this bad news as it implies more hawkishness from the Fed, a body of ivory tower economists with no trading experience. Market players are expecting the Fed to repeat its traditional mistake, viz. raise rates into a slowdown on the basis of late cycle and lagging data. That's what employment data are, the laggiest of data.
More...
Rates should be going up.
Home prices will need to correct...government spending needs to be reigned in..
A lot of pain needs to happen to a few sectors...
but overall, the Trumpy economy is humming and should continue..
Wait for the infrastructure bill and a middle class tax cut...
 
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