News on the Economy

It's reasonably certain that you understand economics more than I do, Credo, but this is pretty much what my financial advisor told me 2 or 3 years ago. He said that looking down the road the fundamentals of the US economy looked very strong and there was no reason not to expect continued growth in the economy for the next several years, barring the unexpected such as a war, a string of natural disasters, divine intervention or the election of one of the current Democratic front runners.

But I also get the impression that the President's opponents are really pulling for an economic downturn. I get suspicious of this when I see people starting to cherry pick numbers and using obscure economic data points that I've never heard of before ("The cube root of the rate decline in porkbelly futures divided by the price of Lithuanian iron ore is plumetting"), as opposed to the commonly understood indicators like employment numbers, Dow Jones, GDP expansion, etc...............................Luca

Any wonder the media creates false narratives daily? Because the reality is too much to swallow.....! Lowest unemployment rate since 1969! #RealNews

US unemployment rate falls to five-decade low of 3.5%

nypost.com/2019/10/04/us-unemployment-rate-falls-to-3-5-a-50-year-low/?utm_source=url_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons

I read a ridiculous report from PBS.

They gave the headline that employment is high... but the story seemed to go out of its way to deny Trump had anything to do with it... the report was peppered with all the negatives, like wages didn’t rise as much as expected (less than a cent off).

It was as if they were saysing, “O.K., employment is up, but hold on there partner... it’s really bad.

Just logged onto my Yahoo page.... not a mention..... if this were Obama's economy surely its front page. Oh wait..., excuse me..., this is still Obama's economy right? 

ECONOMY:
Jobs growth soars in November as payrolls surge by 266,000
PUBLISHED FRI, DEC 6 20198:30 AM ESTUPDATED 7 MIN AGO
www.cnbc.com/2019/12/06/us-nonfarm-payrolls-november-2019.html

KEY POINTS:

Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones.

The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low and matching the lowest jobless rate since 1969
.
The end of the GM strike had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.

Average hourly earnings rose by 3.1% from a year ago, slightly above the 3% expected by economists polled by Dow Jones.

The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday.

Those totals easily beat the Wall Street consensus. Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%.

Stocks opened sharply higher in reaction to the better-than-expected report. Bond yields also surged.

“This is a blowout number and the U.S. economy continues to be all about the jobs,” Tony Bedikian, head of global markets for Citizens Bank said in a note. “The unemployment rate is at a 50-year low and wages are increasing. Business owners may be getting more cautious due to trade and political uncertainty and growth may be slow, but consumers keep spending and the punch bowl still seems full.”   

crazy part is at beginning of year they and the media all started chiming the Trump tax cuts had waned and the consumer was about to go on a slow roll into the end of 2019.