As T-Rump bumbles into control, Americans at least for the moment are in decent economic times. The Labor Department released some good numbers this morning — 178,000 new jobs in in November, and unemployment at a more than nine-year low of 4.6-percent (BusinessInsider):
“Despite lots of uncertainty about upcoming Trump policies, the good news is that the incoming administration stands to inherit a stable and growing economy with the strongest overall job market in a generation,” said Andrew Chamberlain, the chief economist at Glassdoor, in a note.
Private-sector employment is on its longest streak of growth on record.
Surreal the inheritance…
(Illustration found here).
Even further, there’s also good economic news from around the world, as so goes the US, so goes a shitload of other people.
However, lies will get you anywhere apparently, even to the Oval Office.
Summed-up this morning:
“President-elect Trump will inherit a much stronger economy than his predecessor did,” Standard & Poor’s economists said this week.
“Largely forgotten in all the rhetoric and fanfare of the campaign is the fact that data show the world’s largest economy continuing to expand at a reasonably good pace.”
The recent gains are now allowing outgoing Obama officials to take something of a victory lap as they head out the door.
“I’ve been here eight years and it is really exciting to see that number, 4.6 percent. I didn’t think I’d ever see the unemployment rate that low,” Jason Furman, chairman of Obama’s Council of Economic Advisers, told CNBC on Friday.
“It’s fallen more than half. It’s because we’ve just created these steady jobs, month after month, 15.6 million of them in the private sector.”
“Between surging consumer confidence levels, a booming stock market and home prices back above pre-recession levels, a number of boxes indicative of a healthy economy are being checked off,” Bankrate.com senior economist Mark Hamrick said in a note on Friday.
Put together, the picture is radically different than the one painted by Trump on the campaign trail, where he railed repeatedly against the Obama economy.
“We have no growth right now,” Trump said in August.
“The country’s a disaster.”
On the campaign trail in February he suggested the government’s numbers were faked.
“Don’t believe those phony numbers when you hear 4.9 and 5 percent unemployment,” Trump said in his victory speech after the New Hampshire primary.
“The number’s probably 28, 29, as high as 35. In fact, I even heard recently 42 percent.”
What an asshole!
Contrast with much irony, Obama’s inheritance eight years ago, following the idiot footsteps of most-likely the worse president in US history — the biggest financial meltdown since the Great Depression, shit happening in all sectors.
Yet here we are.
Last night in Ohio, T-Rump offered up the future (via CNN):
Trump also rebuked critics who have criticized him for nominating billionaire businessman Wilbur Ross as Commerce Secretary.
“The guy knows how to make money, folks,” Trump said, before musing on the rest of his cabinet
“Greatest killers you’ve ever seen — it’s time.”
In the valued words of the beloved Pinball: ‘“…Or as they say in Ebonics, “We be fucked.”‘