Even More Winning: Jobless Claims Unexpectedly Fall to Lowest in Nearly Half a Century 2615 The Associated Press 20 Sep 2018793 Jobless claims unexpectedly fell again last week to the lowest level since November of 1969. First-time claims for state unemployment benefits came in at 201,000, down from 204,000 in the previous week. Economists had predicted a rise to 210,000. Jobless claims are a proxy for layoffs and have been closely watched for signs that trade disputes and escalating tariffs could be costing Americans jobs. Record lows indicate that what many have described as a “trade war” is weighing far less on the U.S. economy than predicted by critics of the Trump administration. Weekly jobless claims can be volatile so economists often look to the four-week moving average of initial claims. This declined by 2,250 to 205,750, the lowest level since December 1969.
Trump is very much like Rick Perry. Not that they both are morons, but that they took over a well running state/country. Perry was a moron but he didn’t fuck it up. We will be lucky to survive Trump without damage to major institutions, the economy and alliances.
Still shocks me, how many people just ignore this simple fact. Clinton hands over great economy with budget surplus to Bush, Bush hands off Obama worst recession in 70 years with 1 tril in yearly deficit, Obama hands off to Trump robust economy, Trump puts it on steroids with unneeded tax cuts while almost doubling reduced deficit Obama gave him.... Let's see how it turns out by 2020. I think, not good unfortunately.
This has been the pattern. The rise is driven by stock buy backs as CEOs are bonus incentivized to get stock prices higher at any cost, not on a strong economy. In a couple of years (less) what is going to happen? I've not met a con yet who has an answer for that.
It really has turned into a cycle of Republican damage control. The more republicans feel like their privilege is under attack the more extreme and moronic their elected leaders become and the more damage this country suffers.
Remember when Obama wanted to increase wages for the lowest paid ? ET's economists said there would be widespread closure of businesses because of increased costs. Walmart warns Trump tariffs may force price hikes: letter Walmart Inc (WMT.N) said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday. The letter comes days after U.S. President Donald Trump slapped tariffs on $200 billion worth of Chinese goods. Walmart, the world’s largest retailer, in its letter said the tariff would impact prices of everything from food products to beverages and personal care items. Walmart confirmed it sent the letter and in a statement to Reuters urged the two countries to find solutions. The U.S. Trade Representative’s office was not immediately available for comment. Earlier this week, Trump escalated his trade war with China by imposing 10 percent tariffs on about $200 billion worth of Chinese imports, including consumer products like gas grills, luggage and travel bags, mattresses and helmets. “As the largest retailer in the United States and a major buyer of U.S. manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the U.S. economy as a whole,” Walmart wrote in its letter to Lighthizer. In its list of consumer products that could be affected by these tariffs, Walmart included gas grills, bicycles, Christmas lights and bicycles. CNN Money reported the news first, citing Walmart’s letter.
Trump-backing steelworker admits GOP tax cuts have only benefited his ‘assh*le’ boss so far Erich Collins, an Iraq War veteran and current steelworker, supported President Donald Trump in 2016 — but he now fears that the president’s signature tax cut is only going to people at the top. In an interview with Vice News, Collins says that he and his fellow steelworkers are getting “sh*t on” by their employer. He then went on to say that he hopes the president has noticed that many of the steelworkers who backed him in 2016 don’t think that their companies are doing a good job of helping out their employees, despite a spike in industry profits that have occurred since Trump slapped tariffs on foreign steel. “Hopefully it caught his attention and I hope he would be listening to the workers,” he said. Collins was then asked what he would want Trump to do to show support for steelworkers in their dispute with their bosses. “I’d like to have him have a sit down with the CEO and tell him to stop being an assh*le,” he said. “And this isn’t what I gave the tax breaks for, so guys like only him can benefit and reap from what we sow.” Collins also said that he would be “extremely disappointed” if the president sided with “corporate greed” if the workers chose to go on strike.