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Thread: Thank you President Trump. The economy just keeps choogling along...

  1. #301
    Quote Originally Posted by Swordsmyth View Post
    Recent news articles reinforce reports that have been carried by major-media outlets for over a year: Employment levels in blue-collar jobs have been growing at their fastest rate in more than 30 years, with most of the growth taking place since Donald Trump took office.
    The Investment Watch blog ran a report on October 12 that was headlined “Under Trump, employment for the non-college-educated is the best it’s been in 50 years.” The article noted: “Blue-collar professionals such as plumbers and mechanics are earning more than the average salary for white-collar jobs — and they don’t require a traditional college degree, according to a recent Bloomberg report.”
    That statement is particularly significant in the face of multiple reports in the news of late about the burden of college debt. CNBC reported last year that more than 44 million Americans collectively hold nearly $1.5 trillion in student debt. When they graduate, the average student loan borrower has $37,172 in student loans, a $20,000 increase from 13 years ago.

    The article noted that though college graduates still earn more than non-graduates, avoiding student debt could make trade schools more appealing. Many trade programs are covered in part by employers, and state-sponsored programs in Michigan and Georgia offer trade degrees tuition-free.
    This phenomenon was analyzed by reporters at Issues & Insights last May.
    The Issues & Insights writers found from analyzing the data that 1.2 million goods-producing jobs were created in the U.S. economy since Trump took office — more than twice as many as were created during the last 27 months of the Obama administration.
    During Obama’s last 27 months in office, the economy created 109,000 manufacturing jobs, compared with 470,000 created from January 2017 through May 2019 under Trump. Jobs in the durable-goods manufacturing industry declined during this time under Obama.
    Blue-collar workers are seeing stronger wage gains as well, noted the report, with weekly wages for goods-producing jobs up $70 under Trump compared with $39 under Obama.

    More at: https://www.thenewamerican.com/econo...s-50-year-high
    Just stop it. You are not cool unless hate on America.




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  3. #302
    Quote Originally Posted by phill4paul View Post
    Just stop it. You are not cool unless hate on America.

    I was (pro) Country when (pro) Country wasn't cool.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  4. #303
    How much of the monetary gains from the Trump economic speedup have gone to the middle class? If you ask Democratic senators and presidential candidates Elizabeth Warren, Kamala Harris and Bernie Sanders, the answer to that question is ... almost none.
    " [Donald] Trump's economy is great for billionaires, not for working people," Sanders likes to say. Meanwhile, House Speaker Nancy Pelosi grouses that under the Trump agenda, "the rich get richer, and everyone else is stuck paying the bill."
    Uh-huh. That's been the standard liberal riff for the last couple of years as they try to explain how a president who they said would create a second Great Depression has created boom times with the lowest inflation and unemployment in half a century.
    But not a word of this is true, according to new Census Bureau data on the incomes of America's middle class. This study by former Census Bureau researchers and now statisticians at Sentier Research has found gigantic income gains for the middle class under Trump. The median or average-income family has seen a gain of $5,003 since Trump came into office. Median family income is now (August 2019) $65,976, up from about $61,000 when he entered office (January 2017).
    Under George W. Bush, the household income gains were a little over $400 in eight years, and under Barack Obama the gains were $1,043. That was in eight years for each. Under Trump, in less than three years, the extra income is about three times larger.
    These gains under Trump are so large in such a short period of time that I asked the Sentier Research team to triple-check the numbers. Sure enough, on each occasion, the income swing was $5,000.
    This is a bonanza for the middle class, and the extra income in tens of millions of Americans' pockets is getting spent. Consumers are king in America today, and fatter wallets translate into more store sales. Home Depot and Lowe's recently recorded huge sales surges.
    The tax cut also added an additional $2,500 to a typical family of four's after-tax incomes. So after taking account of taxes owed, the income of most middle-class families is up closer to $6,000 in the Trump era.
    Memo to Pelosi: That ain't crumbs.

    More at: https://www.realclearpolitics.com/ar...om_141497.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #304
    Quote Originally Posted by Swordsmyth View Post
    How much of the monetary gains from the Trump economic speedup have gone to the middle class? If you ask Democratic senators and presidential candidates Elizabeth Warren, Kamala Harris and Bernie Sanders, the answer to that question is ... almost none.
    " [Donald] Trump's economy is great for billionaires, not for working people," Sanders likes to say. Meanwhile, House Speaker Nancy Pelosi grouses that under the Trump agenda, "the rich get richer, and everyone else is stuck paying the bill."
    Uh-huh. That's been the standard liberal riff for the last couple of years as they try to explain how a president who they said would create a second Great Depression has created boom times with the lowest inflation and unemployment in half a century.
    But not a word of this is true, according to new Census Bureau data on the incomes of America's middle class. This study by former Census Bureau researchers and now statisticians at Sentier Research has found gigantic income gains for the middle class under Trump. The median or average-income family has seen a gain of $5,003 since Trump came into office. Median family income is now (August 2019) $65,976, up from about $61,000 when he entered office (January 2017).
    Under George W. Bush, the household income gains were a little over $400 in eight years, and under Barack Obama the gains were $1,043. That was in eight years for each. Under Trump, in less than three years, the extra income is about three times larger.
    These gains under Trump are so large in such a short period of time that I asked the Sentier Research team to triple-check the numbers. Sure enough, on each occasion, the income swing was $5,000.
    This is a bonanza for the middle class, and the extra income in tens of millions of Americans' pockets is getting spent. Consumers are king in America today, and fatter wallets translate into more store sales. Home Depot and Lowe's recently recorded huge sales surges.
    The tax cut also added an additional $2,500 to a typical family of four's after-tax incomes. So after taking account of taxes owed, the income of most middle-class families is up closer to $6,000 in the Trump era.
    Memo to Pelosi: That ain't crumbs.

    More at: https://www.realclearpolitics.com/ar...om_141497.html
    They did change the way they calculate median income- the new formula is at least three percent more generous than the previous one. With the adjustment, median income is about $100 higher than it was in 1999.





    https://www.census.gov/library/stori...from-2017.html
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    Quote Originally Posted by Swordsmyth View Post
    Yes, that is the new tactic from all the trolls.
    They just assert lies over and over no matter how often they are exposed.
    I am Zippy and I approve of this post. But you don't have to.



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  7. #305
    Quote Originally Posted by phill4paul View Post
    Just stop it. You are not cool unless hate on America.

    You've made the full 180 over to neocon talking points. "Hate 'Merica"

    Never thought I'd see 2007 join dates that equate criticizing the government with hating the country itself but here we are...GWB's happy days are here again.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  8. #306
    Quote Originally Posted by devil21 View Post
    You've made the full 180 over to neocon talking points. "Hate 'Merica"

    Never thought I'd see 2007 join dates that equate criticizing the government with hating the country itself but here we are...GWB's happy days are here again.
    LOL

    We have people here who actually hate America and cheer for its demise.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  9. #307
    Quote Originally Posted by Zippyjuan View Post
    They did change the way they calculate median income- the new formula is at least three percent more generous than the previous one. With the adjustment, median income is about $100 higher than it was in 1999.





    https://www.census.gov/library/stori...from-2017.html
    That doesn't affect the rate of increase which is higher under Trump.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  10. #308
    Quote Originally Posted by Swordsmyth View Post
    LOL

    We have people here who actually hate America and cheer for its demise.
    Only idiots equate the success of the federal government corporation called the United States with the success of the land mass called America. Oh, and authority-worshippers who want a ruler to tell them what to do. We have some of those here too, don't we?
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  11. #309
    Quote Originally Posted by devil21 View Post
    Only idiots equate the success of the federal government corporation called the United States with the success of the land mass called America. Oh, and authority-worshippers who want a ruler to tell them what to do. We have some of those here too, don't we?
    I said nothing about the government, we have people here who hate America and Americans and cheer for our destruction.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  12. #310
    Quote Originally Posted by devil21 View Post
    You've made the full 180 over to neocon talking points. "Hate 'Merica"

    Never thought I'd see 2007 join dates that equate criticizing the government with hating the country itself but here we are...GWB's happy days are here again.
    I'm celebrating the fact that Americans are back at work and not sucking at the government tit. Just terrible, I know.

  13. #311
    Quote Originally Posted by phill4paul View Post
    I'm celebrating the fact that Americans are back at work and not sucking at the government tit. Just terrible, I know.
    The hate America and Americans club is coming out of the closet more these days, they still pretend it's just about the government but it is increasingly obvious that it isn't.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  14. #312
    Quote Originally Posted by Swordsmyth View Post
    The hate America and Americans club is coming out of the closet more these days, they still pretend it's just about the government but it is increasingly obvious that it isn't.
    Truth. It's that winning libertarian personality that has grown their movement and won them so many elections.



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  16. #313
    Quote Originally Posted by phill4paul View Post
    Truth. It's that winning libertarian personality that has grown their movement and won them so many elections.
    Leftarians (those that aren't wolves in sheep's clothing) are like Jonah, they don't want Nineveh (America) to repent and be saved, they want to watch it burn instead, so they do anything they can to stay a small movement of losers.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  17. #314
    The Federal Reserve is injecting many billions of dollars daily via secret repo operations. Chooglin' along indeed!


    Quote Originally Posted by phill4paul
    Truth. It's that winning libertarian personality that has grown their movement and won them so many elections.
    Interesting comment there, seeing how the original phil actually was a libertarian and would have never referred to "their" and "them".
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  18. #315
    The Commerce Department released its “Advance Estimates of U.S. Retail and Food Services” this morning. This is the first estimate for the month that will get revised – often substantially – in following months as more data become available. And the report said that in September compared to September last year:

    • Total retail & food services (restaurants, cafes, etc.) rose 4.1%.
    • Retail sales without food services rose 4.0%.
    • Food services sales rose 4.9%.
    • Retail sales without gasoline sales rose 4.7%.
    • Retail sales without gasoline, motor vehicles & parts sales rose 4.5%.
    • Sales at non-store retailers (ecommerce, vending machines, door-to-door, telemarketing, home parties such as Tupperware, etc.) rose 12.9%.

    So, a 4.0% year-over-year increase in retail sales is pretty strong – and about in line what you’d expect from the mythic figure, the indomitable American consumer. It’s the second highest percentage increase (behind August’s 4.6%) since October last year:

    But retail sales are very seasonal. And September sales, which always follow the back-to-school burst in August, always drop sharply from August, every year. So, here are the not-seasonally adjusted retail sales in billions of dollars. I marked the last six Septembers with red dots:

    Not seasonally adjusted, retail sales in September fell 8.9% from August. Last year at this time, they fell 8.3%. In 2017, they fell 4.5%, in 2016, 5.4%. But in 2013, they fell 9.2%.
    Labor Day weekend is big for retail, but it was pulled into August.

    This year, Labor Day fell on September 2, and August 31 was a Saturday, which for accounting purposes in many industries pulled Labor Day sales into August. This includes auto dealers which closed their books on the first working day after the weekend, which was Tuesday, September 3.
    Those sales showed up in August and not in September. This is not unusual. It happened in 2013, as well, when Labor Day Monday fell on September 2, and August books were closed on September 3, pulling all those sales into August. Hence the 9.2% drop from August to September 2013. In quarterly reporting, this noise disappears.
    These effects of seasonality and calendar are well known (except among reporters).

    To tone down the noise of these seasonal and calendar effects, the Commerce Department comes up with large “seasonal adjustments.” For example, the seasonal adjustments reduced the 8.9% drop in September from August to a 0.3% drop “seasonally adjusted.” This 0.3% drop is what the media got hung up about.
    Not seasonally adjusted, retail sales in September were $436.7 billion, down 8.9% from August’s $479.6 billion. That’s a seasonal drop from month to month of $43 billion.
    After seasonal adjustments, sales in September were suddenly $460.4 billion, down 0.3% from August’s seasonally adjusted $461.9 billion.
    How huge are the seasonal adjustments? In September: $23.7 billion. This is the difference between the estimate of actual sales in September ($436.7 billion) and seasonally adjusted sales ($460.4 billion).
    If these seasonal adjustments are off just a little bit, if for example, the seasonal adjustment should have been $2 billion more, a tiny amount compared to the magnitude of retail sales, retail sales would have risen +0.2%, instead of falling -0.3%.
    In other words, seasonally adjusted month-to-month retail sales growth is only as good as the seasonal adjustments. It should either be ignored or be looked at after studying the other data first, as we have done a little bit of here.
    Retail sales don’t turn around on a dime — unless there is a huge national crisis. And to claim, based on seasonally adjusted month-to-month data, that retail sales turned around from strong growth in August to sudden decline in September because the consumer suddenly got “shaky” is nonsense.
    And if the financial media – which should know better – base headlines on this seasonally adjusted month-to-month retail sales growth figure, and if they extrapolate grander themes for the overall economy and even monetary policy – such as rate cuts – from that singular seasonally adjusted month-to-month retails sales growth figure, it’s either braindead reporting or willfully manipulative reporting with an agenda behind it (such as clamoring for a rate cut).


    More at: https://wolfstreet.com/2019/10/16/br...-retail-sales/
    Last edited by Swordsmyth; 10-17-2019 at 08:58 PM.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  19. #316
    More winning. President Trump is reducing the Debt to GDP ratio indicating that under his Presidency the economy is growing faster than the national debt!

    According Rex Sinquefield at Forbes in October of 2016:
    The Obama recovery of the last seven years remains the worst in postwar American history. Average gross domestic product (GDP) growth since the bottom of the recession in 2009 was barely above 2.1% per year. The average since 1949 is well above 4% per year during the previous 10 expansions.
    This result is not just bad, it is catastrophic. The average American should not be wondering if his or her income is a bit above or below 2007 levels. Just by historical averages, the average American should be 20% better off than in 2007. And this slow growth is settling in as a permanent new-abnormal.
    I believe the root cause of abysmal growth is the huge tax increases imposed by Obama and the Democrats in Congress since 2008. The most harmful were the increase in the capital gains tax from 15 to 20 percent, the increase in top bracket income from 35 to 39.6 percent, and the new tax of 3.8 percent on investment income in the Affordable Care Act (ACA). The massive increase in regulatory burden through the ACA and Dodd-Frank bills are also crushing, but unfortunately are harder to measure.
    President Obama never reached an annual GDP Growth rate of more than 3.0%. No President over the past century had not ever been held to GDP growth rates of less than 3.0% until Obama. But President Trump averaged a better than 3% GDP last year.


    More impressively, when comparing the amount of US Debt from the government’s daily report of debt to the amount of GDP from the current GDP release, the amount of debt to GDP is decreasing under President Trump (a very good thing).

    The ratio of debt to GDP is decreasing drastically – from 105.3% when Obama was President to 103.2% at the end of the 2nd Quarter of 2019! (Note that Obama increased the Debt to GDP ratio by 30% over his first two years and more than 40% during his two terms in office. Also, under Obama the Fed kept rates at 0% for his first seven years!


    If President Trump had the same luxury of a 0% interest rate as Obama the Debt to GDP would be much less because US debt would be $1 trillion less.

    More than one trillion of the two trillion increase in debt under President Trump is due to the Fed’s increase in rates.


    Winning, Winning, Winning!

    If not for the Fed, the US would be paying down national debt.

    Despite this, the economy is getting stronger and stronger.

    https://www.thegatewaypundit.com/201...-than-us-debt/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  20. #317
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  21. #318
    Big spending is supposed to stimulate economy in a big way, this is bit surprising:

    Oct 30, 2019



    GDP: 1.9%...

    China Trolls...

    Trump on 1.9% GDP in 2012: 'Economy is in deep trouble'...




    Related

    Trump assumes Obama's mantle as the 'king of debt'

    By Armstrong Williams
    10/29/19

    When President Obama nearly doubled the national debt, raising it by almost $9 trillion during his two terms in office, Republicans howled in alarm. Although interest rates were being kept artificially low by the U.S. Federal Reserve and global central banks in the aftermath of the Great Recession, there certainly would be a reckoning down the road when the bill came due.
    So incensed were Americans by the profligate borrowing by the federal government that it caused a political revolt in the form of the Tea Party, whose politicians took Congress by storm and demanded accountability for the fiscal irresponsibility in which our country had engaged. Tea Party-affiliated politicians urged congressional Republicans to be willing to shut down the government to force congressional Democrats and President Obama to agree to deep cuts in spending and to repeal the Affordable Care Act.
    And, for the first time in decades, Congress refused to pass a continuing resolution (in lieu of a final budget deal) to raise the debt ceiling, which forced a government shutdown in 2013.

    One of the central tenets of the Republican Party has been a commitment to fiscal conservatism, which consists of three central prongs: low taxes, low debt and small government. America’s burgeoning national debt, sprawling government bureaucracy and incredible burden of liabilities — that is, promises to pay in the future — seem to belie this set of ethics.

    https://thehill.com/opinion/finance/...e-king-of-debt




    FEDERAL SPENDING SMASHES RECORDS
    BUDGET DEFICIT WIDENS 23%




  22. #319
    Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.
    Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.

    The unemployment rate ticked higher to 3.6%, in line with estimates, but remains around the lowest in 50 years. A more encompassing measure that includes discouraged workers and those holding part-time positions for economic reasons also edged up to 7%.
    The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.
    The pace of average hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% gain, also in line with estimates. The average work week was unchanged at 34.4 hours.
    “This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”


    Along with the better-than-expected performance in October, previous months’ counts were revised considerably higher. August’s initial 168,000 estimate came all the way up to 219,000 while September’s jumped from 136,000 to 180,000.
    Together, the new estimates added 95,000 positions for the two-month period, bringing the three-month average to 176,000, which is well above the pace needed to keep the unemployment rate around its current level.
    For the year, monthly job creation now averages 167,000 compared with 223,000 in 2018.


    At the industry level, the biggest job creation came in food services and drinking establishments, which added 48,000. While those positions are generally associated with lower wages, they also can reflect consumer demand and the willingness to spend discretionary money. The industry has seen a surge in job creation as of late, with the past three months averaging 38,000 compared with 16,000 in the first seven months of this year.
    Professional and business services added 22,000 and health care rose 15,000, part of a gain of 402,000 for that industry over the past year.
    Social assistance increased by 20,000 while financial activities rose by 16,000, bringing to 108,000 the total Wall Street jobs added over the past year.
    Job losses came in manufacturing (-36,000) as part of the GM strike, and the federal government, which subtracted 17,000 because 20,000 workers hired for Census duties finished their work.
    The total employment level in the household survey reached another record high, swelling by 241,000 to 158.5 million.
    The labor force expanded by 325,000 to 164.4 million and the labor force participation rate edged higher to 63.3%. Those counted as not in the labor force declined by 118,000 to nearly 95.5 million.
    After previously sitting at a record low, the unemployment rate for Asians jumped 0.4 percentage points to 2.9%.

    More at: https://www.cnbc.com/2019/11/01/jobs...ober-2019.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  23. #320
    Quote Originally Posted by Swordsmyth View Post
    Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.
    Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.

    The unemployment rate ticked higher to 3.6%, in line with estimates, but remains around the lowest in 50 years. A more encompassing measure that includes discouraged workers and those holding part-time positions for economic reasons also edged up to 7%.
    The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.
    The pace of average hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% gain, also in line with estimates. The average work week was unchanged at 34.4 hours.
    “This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”


    Along with the better-than-expected performance in October, previous months’ counts were revised considerably higher. August’s initial 168,000 estimate came all the way up to 219,000 while September’s jumped from 136,000 to 180,000.
    Together, the new estimates added 95,000 positions for the two-month period, bringing the three-month average to 176,000, which is well above the pace needed to keep the unemployment rate around its current level.
    For the year, monthly job creation now averages 167,000 compared with 223,000 in 2018.


    At the industry level, the biggest job creation came in food services and drinking establishments, which added 48,000. While those positions are generally associated with lower wages, they also can reflect consumer demand and the willingness to spend discretionary money. The industry has seen a surge in job creation as of late, with the past three months averaging 38,000 compared with 16,000 in the first seven months of this year.
    Professional and business services added 22,000 and health care rose 15,000, part of a gain of 402,000 for that industry over the past year.
    Social assistance increased by 20,000 while financial activities rose by 16,000, bringing to 108,000 the total Wall Street jobs added over the past year.
    Job losses came in manufacturing (-36,000) as part of the GM strike, and the federal government, which subtracted 17,000 because 20,000 workers hired for Census duties finished their work.
    The total employment level in the household survey reached another record high, swelling by 241,000 to 158.5 million.
    The labor force expanded by 325,000 to 164.4 million and the labor force participation rate edged higher to 63.3%. Those counted as not in the labor force declined by 118,000 to nearly 95.5 million.
    After previously sitting at a record low, the unemployment rate for Asians jumped 0.4 percentage points to 2.9%.

    More at: https://www.cnbc.com/2019/11/01/jobs...ober-2019.html
    These are terrible figures. I was really hoping to quit my job and apply for "basic income." Drats.



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  25. #321
    Quote Originally Posted by phill4paul View Post
    These are terrible figures. I was really hoping to quit my job and apply for "basic income." Drats.
    @TheTexan will be crushed.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  26. #322
    Quote Originally Posted by Swordsmyth View Post
    @TheTexan will be crushed.
    It's a setback, but what doesn't kill us just makes us vote even harder
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Rand Paul (Vice Pres) 2016!!!!

  27. #323
    More than 5.8 million individuals dropped off food stamps since President Donald Trump completed his first full month in office, according to the latest data released by the U.S. Department of Agriculture (USDA).

    The most recent USDA data shows that 5,896,383 people discontinued their participation in the nation’s food stamp program— also known as the Supplemental Nutrition Assistance Program (SNAP)— since February 2017 when Trump completed his first month as president.
    Individual and household participation in SNAP had consistently declined overall since 2013 back when the Obama administration was in power, and enrollment in the program reached its highest point in U.S. history.
    Food stamp enrollment plummeted after states passed reform measures to curb dependency on welfare, requiring food stamp recipients to work, volunteer, attend school, or receive job training for 20 hours per week.
    Under the Trump administration, those numbers have gone down even further.
    There are currently 36,401,408 individuals and 18,462,672 households enrolled in the food stamp program. Still, USDA officials said those numbers are “preliminary” due to the 2018 government shutdown, which affected food stamp administration at the beginning of 2019.
    When Trump took office, 42,297,791 individuals and 20,937,903 households were enrolled in food stamps.

    More at: https://www.breitbart.com/economy/20...s-under-trump/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  28. #324
    Time will tell how much validity is in critics claims about 'sugar high economy' fueled by artifical fed actions and big gummit deficit/debt spending with high risk of crash but there are tangible benefits in job market that MAGA team is trying to convert into political gain in terms of increased support from minorities:


    Jonathan Ernst / Reuters President Donald Trump speaks during a "Black Voices for Trump" campaign event in Atlanta, Nov. 8.
    ATLANTA — President Donald Trump brought some of his best-known black supporters to Atlanta to launch the “Black Voices for Trump" coalition on Friday, lavishing praise on his allies and decrying the Democratic Party as being corrupt and disloyal to black voters at a rally in a midsize ballroom.
    “The Democratic Party left you," he said. "Today we say: Welcome to the Republican Party."
    Supporters interpreted Trump’s speech — and those from his allies that preceded it — as a challenge to attract black men based on the president’s record on jobs, criminal justice, and what some of his strongest black supporters say is years of neglect and failed policies from the Democratic Party.
    The Black MAGA Faithful Think Donald Trump Tailored His 2020 Pitch To Black Men, And They’re Kind Of Feeling It

  29. #325
    Quote Originally Posted by devil21 View Post
    You've made the full 180 over to neocon talking points. "Hate 'Merica"

    Never thought I'd see 2007 join dates that equate criticizing the government with hating the country itself but here we are...GWB's happy days are here again.
    You must spred some reputation around...
    Quote Originally Posted by devil21 View Post
    Only idiots equate the success of the federal government corporation called the United States with the success of the land mass called America. Oh, and authority-worshippers who want a ruler to tell them what to do. We have some of those here too, don't we?
    YMSSRA
    Amash>Trump

    ΟΥ ΓΑΡ ЄCΤΙΝ ЄξΟΥCΙΑ ЄΙ ΜΗ ΥΠΟ ΘЄΟΥ

    "Patriotism should come from loving thy neighbor, not from worshiping graven images" - Ironman77

    "ideas have the potential of being more powerful than any army....The concept of personal sovereignty was pulled screaming from the ether into this reality by the force of men believing in a self evident truth, that men are meant to be free." - The Northbreather

    "Trump is the security blanket of aggrieved white men aged 18-60." - Pinoy

  30. #326
    The numbers: IHS Markit said its U.S. flash manufacturing sector purchasing managers index rose to 52.2 in November from 51.3 in October. This is the fastest rate since April.
    Meanwhile the U.S. flash services sector purchasing managers index in November rose to 51.6 from 50.6. This is the quickest expansion since July.
    Any reading above 50 indicates improving conditions. The flash estimate is typically based on approximately 85%–90% of total survey responses each month.
    What happened: Manufacturers registered a rise in new orders in November. There was a small upturn in service sector new business also. Both manufacturers and service providers indicated a rise in workforce numbers.
    What IHS Markit said: “A welcome upturn in the headline index from the flash PMI adds to evidence that the worst of the economy’s recent soft patch may be behind us,” said Chris Williamson, chief business economist at IHS Markit.


    More at: https://www.marketwatch.com/story/us...ber-2019-11-22
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  31. #327
    The American economy grew at a faster pace this summer than estimated earlier.

    Gross domestic product grew at a 2.1 percent annual rate for the third quarter, the Commerce Department said yesterday in its second estimate of economic growth. That is a substantial boost from the 1.9 percent in the earlier estimate.


    More at: https://www.breitbart.com/economy/20...third-quarter/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  32. #328
    Jobless claims unexpectedly plunged in the week ended November 23, indicating that the American labor market remains strong.

    Initial claims for state unemployment benefits fell by 15,000 to 213,000, the Labor Department said Wednesday. Economists had been looking for a smaller decline.
    The prior week’s claims were revised up by 1,000 to 228,000.
    The drop in claims is significant because claims had been rising in the two prior weeks. Many economists expect claims, which are a proxy for layoffs, to climb because they view employment as likely to peak soon given the extremely low levels of unemployment and sluggishness in business investment and the manufacturing sector.
    Jobless claims can be volatile week-to-week. Economists prefer to look at the four-week average of claims as a more reliable indicator of the labor market. This figure moved down by 1,000 to 220,000.


    https://www.breitbart.com/economy/20...000-to-213000/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  34. #329
    After unexpectedly sliding in September, Durable Goods New Orders were expected to contract further in preliminary October data but instead surprised bigly to the upside, rising 0.6% MoM (-0.9% exp) after a downward-revised 1.4% drop in September.

    Additionally, the proxy for capital expenditures, Capital Goods Shipments Non-Defense Ex-Air, rose0.8% MoM (-0.2% exp) - the biggest jump since Jan 2019 (after 4 months of contraction)...

    More at: https://www.zerohedge.com/economics/...x-proxy-surges
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  35. #330
    Call it the Back-up Plan.
    For the past couple of years, the potential for an economic downturn has kept jittery Democrats from getting too nervous about the 2020 presidential election. Even if Robert Mueller and his Russia investigation didn't get President Trump — and now the Ukraine impeachment investigation — then the American economy surely would. There was no way four years of Trump's trade wars and general incompetence wouldn't result in a nasty recession and a one-term Trump presidency, right?
    Now it's looking more and more like the back-up plan might need a back-up plan. Wall Street economists and forecasting models don't see more than a one-in-three chance of an economic downturn next year. There's even a reasonable scenario of an economic upturn. In its outlook for next year, Goldman Sachs predicts economic growth accelerating from its current 2 percent pace to 2.5 percent, thanks to a quieting of the trade war and the lagging impact of Federal Reserve rate cuts. Recession odds: Just 20 percent, which is pretty standard in any given year.
    But this is the part of the forecast that should really worry Democratic campaign strategists: "Solid growth should mean another year of above-trend job gains. We expect the unemployment rate to fall to levels last seen during the Korean War, bringing a further pickup in wage growth to 3.5 percent." So not only rising take-home pay with low inflation, but a jobless rate so historically low that even the oldest boomers have little memory of such a time. Look, if you're a president who promised to make America great again, and the unemployment rate falls to its lowest level since the early 1950s, it arguably looks like you're making American great again.
    Of course, this is just one forecast. But even if next year is just pretty much like this year, not much better or worse, it would still mean an economy experiencing a record-long expansion that would be well into its 11th year by Election Day 2020. Not that 2020 Democratic nominees will lack a counter-argument. They will likely argue that most Americans aren't benefiting from the expansion. As South Bend, Indiana, Mayor Pete Buttigieg said at the last Democratic debate, "In an economy where even when the Dow Jones is looking good, far too many Americans have to fight like hell just to hold on to what they've got."
    The problem with such an approach is that even though Democrats are loathe to admit it, this is an expansion that's finally helping a broad swath of Americans. Wages are actually growing fastest at the bottom right now, not at the top, and that reality is playing a big role in keeping the expansion on track. Nor should Democrats dismiss the low jobless rate. It's not some phony number. For instance: Employment for prime-age workers has now completely recovered from the 2008 financial crisis even though many economists fretted it never would. To many Americans, the Trump economy is going to seem a lot better than the Obama economy.

    More at: https://news.yahoo.com/democrats-run...123002790.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

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