That 'booming' economy?

[bhurry]

Oct. 28 (UPI) -- A gauge that measures hiring at U.S. companies has fallen to its lowest level in seven years, a business survey said Monday.

The National Association for Business Economics report said the U.S. economy is slowing and most experts it questioned for the survey said the pace should continue into next year. Two-thirds of manufacturing experts said President Donald Trump's tariffs have had a negative impact on their business.

Hiring slowed in the third quarter, as did wage and salary growth, the report said. Just 20 percent of businesses said hiring has increased this month -- down from 34 percent who answered that way in July and the lowest level since October 2012.

https://www.upi.com/Top_News/US/201...-7-year-low-survey-shows/7151572274575/?sl=10

Wonder where the survey was taken. Not in the Midwest

 

[dan_c00000]

false

Actually, it's true. And it's from Fox too! Fuck, racist dawn's newest alt! That's a double own there.

 

[jaF0]

Trump Is an 'Utter Failure' at Bringing Manufacturing Jobs Back to Swing States, Nobel Prize-Winning Economist Says
Newsweek.com | Wed Oct 30, 2019 20:17 UTC

"The meh GDP numbers won't help Trump next year," Paul Krugman also noted.

 

[someoneyouknow]

As posted elsewhere:

https://images.spot.im/image/upload/q_70,fl_lossy,dpr_3,c_limit/v200/bccf5c7eebab31965a548598db2e9c3d

 

[DawnONight]

false

Actually, it's true. And it's from Fox too! Fuck, racist dawn's newest alt! That's a double own there.

Wow! I have yet another "alt"!

dan_c00000 has become so infatuated with me, so frustrated by the way I consistently demolish him with facts and logic, he now imagines anyone who disagrees with him is my "alt." It's rather flattering, in a weird way.

By my tally, this ever-expanding cadre now includes: BabyBoomer50s, bhurry, BotanyBoy, Boxlicker101, coachdb18, EmpressJosephine, gunthernehmen, icanhelp1, JayCuck, My_I, PrincepsCyberius, Rightguide, and a whole host of others whose names I don't remember and could not easily find on the threads just now.

"We" obviously have been very busy.

I don't know about my "alts," but I have better things to do with my day than continually post under a bunch or pseudonyms. Also, I have too much pride in what I do here to want to pose as anyone else.

The funny thing is that dan_c00000 seems to think that suggesting we're all one person somehow weakens our arguments. In truth, of course, regardless of who posts them, arguments actually stand or fall on the merit of their facts and logic, by which "we" generally win. I suppose that is why he has to resort to such childish and ridiculous tactics himself.

 

[Leather_Lesbian]

Has Trump taken A LOOK at the economy?? The mega-wealthy people he gave huge tax breaks to are laying off workers, his childish trade wars are causing prices to go up while wages remain stagnant, his immigration policies and tariff wars are destroying America's farms, America's tourism industry is being destroyed and prescription drug prices are so out of control that people can't afford to buy insulin and other life-saving prescriptions!!

Poverty is up, homelessness is up, bankruptcies are up, and job creation is down.

Trump calls this a "booming" economy?

What did he call the Great Depression? An economic paradise?

Trump knows nothing about the economy. Just like he knows nothing about diplomacy, National Security, constitutional law, history or geography.

 

[magicalmoments]

Of course the greatest measure of how an economy is doing, according to trump, is the gdp.
He promised that his policies would increase it by 6%.
How's that going?

 

[DawnONight]

Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations....

The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.

The pace of average hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% gain, also in line with estimates. The average work week was unchanged at 34.4 hours.

“This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”

Along with the better-than-expected performance in October, previous months’ counts were revised considerably higher. August’s initial 168,000 estimate came all the way up to 219,000 while September’s jumped from 136,000 to 180,000.​

J. Cox, October job creation comes in at 128,000, easily topping estimates even with GM auto strike, CNBC (Nov. 1, 2019) (emphasis added).

 

[icanhelp1]

Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations....

The unemployment rate for African Americans nudged down to a record low 5.4%. Also, the total employment level as measured in the household survey jumped to 158.5 million, also a new high.

The pace of average hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% gain, also in line with estimates. The average work week was unchanged at 34.4 hours.

“This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”

Along with the better-than-expected performance in October, previous months’ counts were revised considerably higher. August’s initial 168,000 estimate came all the way up to 219,000 while September’s jumped from 136,000 to 180,000.​

J. Cox, October job creation comes in at 128,000, easily topping estimates even with GM auto strike, CNBC (Nov. 1, 2019) (emphasis added).

If the facts you just presented were Obama numbers the naysayers would be dancing in the streets. This is all about TDS, search and destroy Trump at all cost.I pretty much stopped chatting with these Obama hold overs and Clinton sore losers. For Dan's benefit [ I'm DAWN ALT #2.] ROTFLMFAO

 

[magicalmoments]

Trump knows nothing about the economy. Just like he knows nothing about diplomacy, National Security, constitutional law, history or geography.

Ain't that the truth.

 

[DawnONight]

Ain't that the truth.

Given your record of guessing and just making stuff up, you're not one to talk.

 

[Ziggins]

The end of chain retail is inevitable and necessary for the recovery of the small town economy.

 

[BotanyBoy]

Trump Is an 'Utter Failure' at Bringing Manufacturing Jobs Back to Swing States, Nobel Prize-Winning Economist Says
Newsweek.com | Wed Oct 30, 2019 20:17 UTC

"The meh GDP numbers won't help Trump next year," Paul Krugman also noted.

Ohhh a Nobel prize winner!!!

Remember when they gave a guy who drone striked the shit out of poor innocent brown people for years on ened including his own countrymen without due process a peace prize?

https://ichef.bbci.co.uk/news/624/cpsprodpb/3961/production/_85598641_gettyimages-94465162.jpg

Yea.....the "Nobel Prize" is just a "progressive" jerk off award.

 

[Spandex_Girl]

Faced with a slowing economy and waves of factory closures and farming bankruptcies, President Trump and Republican lawmakers are finally going back to the drawing board.

So far, this brain trust has come up with . . . the exact same failed policy formula that got us these results in the first place.

U.S. economic growth slowed again in the third quarter, down to an annualized pace of just 1.9 percent. Thankfully, this reading (coupled with the ultra-low unemployment rate) doesn’t yet seem to signal recession. In fact, under other circumstances, this growth rate would seem downright respectable. It’s in line with what independent forecasters at the Federal Reserve and elsewhere consider to be the long-run rate for the U.S. economy, given our aging population.

Still, 1.9 percent is a far cry from the “4 percent, 5 percent and even 6 percent” growth rates that Trump once promised to deliver.

More to the point, the rate is way lower than you’d expect given the massive fiscal stimulus policymakers have been pumping into the economy. We were told that the GOP’s corporate tax cuts alone would permanently turbocharge growth to at least 3 percent.

Instead, Trump spent $2 trillion in deficit-financed tax cuts for the rich to get us basically the same growth rate we had before he took office.

The mechanism by which Trump’s signature legislative achievement was supposed to turbocharge growth, according to the tax cut’s advocates, was by stimulating business investment. Instead, business investment fell last quarter, in the second consecutive quarter of contraction.

Now, some of the problem might be due to another core plank of the Trump economic agenda: his trade wars. Trump’s tariffs have introduced tremendous new costs and uncertainty for U.S. companies whose supply chains span the globe. U.S. businesses have also seen foreign demand for their products plunge as trading partners in China and elsewhere retaliate with tariffs of their own.

Thanks to both a tax cut that underdelivered and a trade war that backfired, most Wall Street economists believe manufacturing is already in recession. Even steel plants, which were supposed to be among the biggest beneficiaries of Trump’s tariff strategy, are shuttering.

And despite being targeted by Trump’s “historic deregulation” spree, his other pet industries — coal and farming — are also facing new waves of bankruptcy filings.

Farm bankruptcies in the 12-month period ending in September are up 24 percent from the previous year, as a result of both bad luck and bad policies (natural disasters and trade wars, respectively). What’s more, even those farms that have managed to stay in business have become increasingly, resentfully reliant on Uncle Sam to get by. Nearly 30 percent of net farm income this year is expected to come from direct government payments (including the bailouts Trump offered farmers in an attempt to buy their silence on his trade wars) and federal insurance indemnities.

https://www.washingtonpost.com/opin...422660-fc13-11e9-ac8c-8eced29ca6ef_story.html

 

[SEVERUSMAX]

Ohhh a Nobel prize winner!!!

Remember when they gave a guy who drone striked the shit out of poor innocent brown people for years on ened including his own countrymen without due process a peace prize?

https://ichef.bbci.co.uk/news/624/cpsprodpb/3961/production/_85598641_gettyimages-94465162.jpg

Yea.....the "Nobel Prize" is just a "progressive" jerk off award.

Actually something that we agree on, oddly enough. Fuck these wars.

 

[BotanyBoy]

Actually something that we agree on, oddly enough. Fuck these wars.

War has it's place, half assing it forever with no clear objectives or goals isn't one of them.

 

[magicalmoments]

I've always found it an interesting fact that the Nobel prizes were set up by the guy who invented and made his fortune from dynamite.

 

[DawnONight]

Faced with a slowing economy....

https://www.washingtonpost.com/opin...422660-fc13-11e9-ac8c-8eced29ca6ef_story.html

I notice you post an editorial from last month, before the latest economic reports were issued showing many of the asserted premisses for this opinion were wrong.

 

[Spandex_Girl]

then why has their been 7,000 farmers filing for bankruptcy and why is the suicide rate for farmers increasing?

Excellent question.


Consumers, retailers, farmers, manufacturers, and tech firms are all getting clobbered by tariffs in Trump's trade war

1. Farming:

Farmers were key part in Trump's election and therefore their support in the run-up to 2020 will be crucial. However, farming groups have been hitting out at the president repeatedly, over the fact that China, a key market for soybean, wheat, and other crop growers has been cut off.
The American Farm Bureau said that in the 12 months to June farming bankruptcies have gone up 13% on the previous year.

The president said that "farmers are starting to do great again," however the head of the National Farmers Unions said, "President Trump is making things worse, not better."
"Instead of looking to solve existing problems in our agricultural sector, this administration has just created new ones," Roger Johnson, head of the NFU, told Business Insider. He added that Trump was "burning bridges with all of our biggest trading partners."
Now it looks like support in key states like Kansas, Wyoming, and Nebraska could be waning. In a Farm Journal Pulse survey of 1,153 farmers on Friday, 71% said they still supported Trump. Yet the number of ranchers who strongly approved of the president fell by 10 percentage points, to 43%, from a survey in early July.

2. Manufacturers:

After Trump "doubled down" on plans to expand tariffs to almost all imports from China manufacturers came out against the president, warning the tariffs would add unnecessary challenges to an already slowing industry.


Dozens of factory representatives warned US trade officials that the tariffs would put jobs at risk and do "irreparable harm" to their businesses.
Markets Insider reporter Gina Heeb reported that one business leader said: "These tariffs will continue to do irreparable harm to our small business. The Section 301 tariffs from List One and Three have resulted in an unexpected cost of over $600,000, which is significant for a small business like ours. We have determined that an additional cost of the List Four tariffs on our business would be almost $1 million."

3. Consumers:

Earlier this week, Goldman Sachs economists reported that American wallets were to take a direct hit from Trump's tariffs.

The bank's research showed that US consumer prices would rise as a result of the tariffs and US growth would slow also.


Planned tariffs that come into effect December 15, which would hit directly in the Christmas shopping season, directly increase the price of cell phones, toys, and computers. EU auto tariffs would also raise the price of cars from Europe.

"The impact of a 5-percentage-point tariff step up (on all Chinese imports except the December 15th tranche) would boost core consumer prices by another 0.05% to 0.10% by mid-2020," said the Goldman Sachs economists Andrew Tilton and Alec Phillips.

4. Retailers:

Like the manufacturers, dozens of US retailers testified before US trade officials in June saying that the tariffs would raise the price tags for businesses and consumers.
The US economy has been held recently by consumer spending, in fact, personal spending rose by 0.6% in July according to data released on Friday. This was mainly driven by retail sales — a rare bright spot in the US economy.

"In imposing tariffs, we will not achieve the goal of protecting IP infringement matters, but penalize US consumers and US companies throughout the, throughout the country," said Christopher Volpe from United Legwear & Apparel Co.

5. Technology companies:

Recently Apple's CEO warned Trump that the tariffs would be a boost its rival Samsung.
That's because Apple would see tariffs slapped on the iPhone, macs and other products as most of the products are made in China. Samsung being a Korean company wouldn't be subject to those.

Like Cook, other tech companies have warned of the tariffs being harmful.
"For the printing supplies industry, these tariffs do more damage to the consumers and intellectual property holders like HP than it will do to the IP infringing products," said Andy Binder, Vice President & General Manager of Hewlett-Packard to US trade officials in June.



https://markets.businessinsider.com...s-hammered-by-trump-tariffs-2019-8-1028488313

 

[Perfectly_shaped_buttocks]

U.S. business hiring drops to a 7-year low as Trump's trade wars drag down the economy.

Republicans are bad for the economy, they’re bad for civil rights, they’re bad for workers rights, they’re bad for teachers, they’re bad for our public schools, they’re bad for gay and lesbian rights, they’re just bad for America in general.

 

[Fuzzy1975]

I've always found it an interesting fact that the Nobel prizes were set up by the guy who invented and made his fortune from dynamite.

I am sure your aware then the Alfred Nobel after seeing his invention of dynamite, (which was supposed to save lives and speed up production) turned into a weapon of war. He decided to try and offer up to the world a platform of peace.

That is the why of the Nobel Prize.

 

[dan_c00000]

Here's a bunch of racist, anti-Semitic nonsese to distract from the fact that I got owned hard and two I never actually denied these are my alts. Remember how easily I got triggered and went on an alt-spamfest?

Sure doe racist dawn.

Looks like your hero the Orange Nazi is busy failing the people he lied about helping.

 

[Fuzzy1975]

Republicans are bad for the economy, they’re bad for civil rights, they’re bad for workers rights, they’re bad for teachers, they’re bad for our public schools, they’re bad for gay and lesbian rights, they’re just bad for America in general.

Well aren't they good for old fat white guys though???

chuckles

 

[jaF0]

UPDATE 2-Caterpillar lays off 120 in Texas as trade war saps growth
Reuters | Mon Nov 04, 2019 20:52 UTC

Caterpillar Inc said on Monday it has laid off 120 temporary workers at a plant ...

 

[Fuzzy1975]

UPDATE 2-Caterpillar lays off 120 in Texas as trade war saps growth
Reuters | Mon Nov 04, 2019 20:52 UTC

Caterpillar Inc said on Monday it has laid off 120 temporary workers at a plant ...

Anyone who thinks a trade war grows an economy, needs to take a course in economics.

Chuckles