Unemployment rate down? Jobless claims at a low ebb? Market high, houses on the market a short, short time?
That’s all good.
But what says “economy humming along” like this: Sears is actually opening new stores.
12 thoughts on “Tired Of Winning”
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Hopefully for Sears, this will be real growth and not just the money Lampert (?) is pouring in.
And wages, especially for hourly workers, also rose, as did the median household income.
https://www.bloomberg.com/news/articles/2019-04-02/u-s-wage-growth-rebounded-in-march-glassdoor-pay-study-shows
I think the Democratic candidate will be lucky to win 10 states; CA, NY, DC, NJ, MA, OR, WA, and maybe VA. Can anyone else think of states they could legitmately win?
IL because Chicago.
Bill C. I’m not so sure that the Dems can rely on Chicago any more. I have friends there that tell me that all of the crime, the Jussie Smollett debacle and the lower unemployment among blacks and Hispanics, have “woke” a lot of traditional Dem voters. They think that the GOP might have the best chance to win IL in a century.
They’ll win MN again, too many damn idiots in MSP.
Trump calls for U-turn by Federal Reserve to stimulate economy. He says rate cuts and quantitative easing would allow ‘rocket ship’ growth.
“Believe me: We’re in a bubble right now. And the only thing that looks good is the stock market — but if you raise interest rates even a little bit, that’s going to come crashing down,” Trump said. “We are in a big, fat, ugly bubble. And we better be awfully careful.” ~ Campaign Trump 2016 — When the stock market wasn’t as high as it is now
Almost funny — the ‘best US economy ever’ needs support from a monetary policy that leaves the floodgates wide open? Either it’s the best economy ever or it’s not. which is it, President Trump?
It’s pretty sad when the Trump haters are saying “sure, the economy is doing well for Americans across the board, now, with low inflation, full employment, and rising wages, but what about THE FUTURE?”
Obama would have done anything to get an economy like this, except reduce the role of government. Which you have to do to get an economy this hot.
Adam Smith spent a good part of “The Wealth of Nations” investigating why common people in America so good compared to common people in Britain and China (China was by far the world’s largest economy when Smith was writing “The Wealth of Nations). His conclusion was that American workers were better off than those in Britain and China because economic growth was high. The American economy was expanding too fast for the supply of labor to match the demand for labor.
This simple, intuitive answer to the question “How do we create a stable political economy” has been ignored for decades because the elites don’t like it. You can only achieve high economic growth by not regulating the economy. Free markets empower ordinary people, not elites, because ordinary people looking to their own multitudinous pocket books, make better economic decisions than the elites do about other people’s pocket books.
This is a difficult thing to accept, for many, because they are poorly informed. For example, most people imagine the 19th century as a time of terrible poverty for the common man, and a time of unbridled capitalism. In fact world GDP grew by a factor of nineteen between 1800 and 1900 (compared to a factor of nine between 1900 and 2000). The poor in the Britain of 1840 found candles expensive. The poor in the Britain of 1740 couldn’t imagine having the money to buy a candle; instead they used “rush lights,” which were cat tails (rushes) smeared with grease or oil.
Over the past 10 years economic profits have increased 6% per year, half as fast as the rise in equity prices. In addition, equity prices relative to GDP are at their highest level since 2000. It is hard to deny the fact that equity prices have run far ahead of fundamentals and are based more on the promise of easy money and the prospects of better earnings than actual earnings.
It’s a bull market.
Don’t speak in terms of absolute rules about what valuation should be, Emery. Economics is a behavioral science. If you think a stock is over valued, simply ask the person who owns the stock to accept your “realistic” valuation. Easy-peasy! You are on the path to becoming a mega-millionaire!
Though given your miserable record at making correct economic predictions, you are probably better off with a passbook savings account.
One of the more annoying features of the Left is that they will make predictions about the future which turn out to be wrong, and they then just keep on making predictions and can’t figure out why “the idiots won’t listen to me!!”
My 3 Vanguard index funds are up YTD.
16% (S&P 500) 18% (DWCPF) and 12% (EAFE Index)
One thing I do know for certain: when I sell the market goes up and when I buy the market goes down. 😉
Off topic a touch, but I wonder if the end of fighting over Protestant/Catholic differences had a lot to do not only with the 30 Years War, but also the Siege of Vienna of 1683, where a coalition of Orthodox, Protestant, and Catholic soldiers freed Vienna and quickly forced the Ottomans to retreat from Hungary and Serbia–and not inconsequentially led those forces to hear the stories of what their Christian brothers suffered under the Ottomans. “while you guys were fighting your little wars in Germany, our children were being taken by the Turks to serve in their harems, buddy”