The U.S. economy grew by 215,000 jobs in July, while the unemployment rate remained at 5.3 percent, the Bureau of Labor Statistics (BLS) reported on Friday.
Economy Adds 215,000 Jobs In July, Unemployment Remains At 5.3 Percent
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Will the media stop please stop taking the GOP seriously any time they say a policy is a “job killer”? They scream that every time Obama, or the Dems in general, propose something, and every time they are wrong, yet they never get called out on it.
And, of course, the stock market is dropping because this means that the Fed will just have to raise interest rates. This time for sure, without fail. Not like the last forty times the market tanked because the geniuses who control the levers of finance were certain the Fed would have to raise rates.
It’s pure ideology–almost everyone one of these tools is basically a neogoldbug who believes Keynes is a discredited crank and has been certain for six years now that hyper-inflation is just around the corner.
Last night while walking my dog I ran into a longtime friend who a) is conservative and b) therefore is not invited over very often at all. He immediately started talking about politics - which we almost never do, 'cause he knows I’m a progressive - saying, “I’m liking Trump. We nee someone who knows the first damn thing about money! The economy is in a spiral - all my friends are buying guns.”
I said, “Ha, well it probably won’t come to that and in any case the feds have tanks and bombers.”
He said, “I’m not talking about the feds, I’m talking about people coming for my stuff because they ‘deserve’ it - because they didn’t go get an education. We retired [military] guys are basically just assuming that our pensions won’t be there in 15 years. The government can’t keep writing checks it can’t cash.”
OK, so I figured out that Scary [poor, black/latino] Others factor into his ideology quite a bit, but the utter ignorance on how the economy is actually doing was astounding. Apparently in his circle of all-military friends, it’s just Known Truth that the economy is in freefall, inflation is spiking, and mobs soon will be roaming the streets to steal from Hard-Working Americans™.
Ugh, I know there are people who think that, but to hear it come from the mouth of someone who I formerly respected. I haz a sad.
Also: http://www.factcheck.org/2015/07/obamas-numbers-july-2015-update/
Obama has done a fucking outstanding job with the bag of shit he was handed in 2009. Best numbers since…CLINTON.
If you have a fully funded pension, the only economic reality that can possibly intrude into any economic fantasyland bullshit bubble you care to create is inflation. It’s not surprising he obsesses over it.
Odd how many people who do have pensions are so intent on taking them away from everybody else, though.