Memory
By Mitch Berg
Joe Doakes from Como Park emails:
Remember this thread jack fr
The previous two months was revised up by 709,000. This was a strong report — and surprising given the surge in Covid-19 cases in January.
Remember my response? I was right.
I concede that government jobs are jobs. Government employees spend paychecks to buy things, which is good for the economy in general. But creating new government jobs to pump up employment numbers is straight out of the FDR playbook. It doesn’t mean the economy is recovering. It’s a sign the economy is foundering and is only being propped up temporarily.
Can’t wait to see next month’s numbers.
Joe Doakes
And the government jobs aren’t assigned a new wealth is being created; it’s a sign that more of it is being transferred to the public sector.
February 16th, 2022 at 5:46 am
That pea rolled out his ear days ago, JD.
February 16th, 2022 at 6:12 am
Adding gubmint jobs to inflate employment numbers, has been in the DemoCommie’s playbook forever. Obumbler did the same thing. Keynesian economics HAS NEVER worked, but the morons keep going down the same path.
February 16th, 2022 at 9:06 am
🚨 U.S. Retail Sales Grew by 3.8% in January
https://www.wsj.com/articles/us-economy-january-2022-retail-sales-11644963650?mod=mhp
Note how spending outstripped inflation in January. The data implies a robust economy.
February 16th, 2022 at 11:39 am
I don’t subscribe to the Journal so I can’t reak the linked article. Would somebody please read it and tell me if it says spending outstripped inflation?
The reason I ask is because noted far-right wingnut website MSN says the 3.8% number is NOT adjusted for inflation. Which means the spending increase is not more people buying more stuff signaling a rebounding economy, it’s fewer people buying less stuff at higher prices, a sign the economy is shrinking.
https://www.msn.com/en-us/money/markets/retail-sales-rebound-38-25-in-january-as-inflation-soars/ar-AATWvVn
February 16th, 2022 at 1:16 pm
JD, there you go again with facts upsetting trollbot copy and paste talking points narrative. tsk… tsk…
February 17th, 2022 at 10:53 am
/“On a monthly basis, retail sales were increased 3.8% from December to January (seasonally adjusted), and sales were up 13.0 percent from January 2021. Sales in January were well above expectations, and sales in November and December were revised up, combined.”/
https://www.calculatedriskblog.com/2022/02/retail-sales-increased-38-in-january.html