This one situation could give Trump a second term….the “surging economy”……the jobs report is good, GDP is fair to partly cloudy, and the markets are doing well with a few hiccups here and there…..
But when we hear the economy is surging….what do they mean by the economy?
Best answer is…..An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. This is also known as an economic system.
But Wages are flat! Inflation….real inflation not that piece of crap that the government uses to fool the crap out of his mortals, is getting higher. I mean how can you figure inflation without using energy, food and medicine in the equation? When we do we get a false indication of “good times”…..
The report of the surging economy is bullsh*t…..a bunch of manure spread by the MSM and the government to give us all some silly “feel good” moment……
Recent economic reports have President Donald Trump crowing.
The big headline numbers do sound encouraging. The unemployment rate is down to 3.6%, the lowest since 1969. Average earnings are finally outpacing inflation, the stock market has been hitting record highs, and the first quarter of 2019 had the fastest annualized growth rate (3.2%) since 2015.
And yet most of the gains from our growing economy are still going to those who least need a boost. Stock market rallies, for example, further concentrate wealth among the very richest Americans. The top 1% of Americans own more than half of stocks and mutual funds. The bottom 90% own just 7%.
For ordinary Americans, the slight uptick in wages is not enough to make up for many years of stagnation. Average hourly pay rose just 6 cents in April 2019 and 4 cents the month before that.
While the Current Establishment Survey (CES) Report (covering large businesses) shows 263,000 jobs created last month, the Current Population Survey (CPS) second Labor Dept. report (that covers smaller businesses) shows 155,000 of these jobs were involuntary part time. This high proportion (155,000 of 263,000) suggests the job creation number is likely second and third jobs being created. Nor does it reflect actual new workers being newly employed. The number is for new jobs, not newly employed workers. Moreover, it’s mostly part time and temp or low paid jobs, likely workers taking on second and third jobs.
Even more contradictory, the second CPS report shows that full time work jobs actually declined last month by 191,000. (And the month before, March, by an even more 228,000 full time jobs decline).
Many in the mainstream media are telling us that the “good economy” favors Trump in 2020, and the Democrats are mostly mum on the subject, with Nancy Pelosi and the neoliberals hoping an anti-Trump campaign will win the day in the next election.
But simply running against Trump won’t work. Democrats have to refute the myth of a “good economy,” then talk about what they’re for, what their values are, and what they are going to do for the American people. Sadly, the party’s leadership seems loathe to advocate progressive values, and incapable of explaining why the economy isn’t so great.
The reason an anti-Trump campaign won’t work is because the 2020 election will be determined by turnout. Anything less than 60 percent risks a Trump victory; and failing to embrace the progressive values embraced by the majority of Americans will likely keep turnout below that.