Look for Honest Economic Reporting to Begin Again

by: the Common Constitutionalist

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2017 will prove to be a very interesting year. Oh sure, Trump’s first 100 days will be chock full of excitement, controversy and consternation. But we should also look forward to, or be prepared for reports from the left on a whole host of issues that have gone unreported or misreported for eight long years.

All of the sudden we should begin to see some honest reporting, now that they will no longer need to shield the public from the folly which has been the Obama presidency and the Obama economy.

Isn’t it funny that Janet Yellen and the Federal Open Market Committee (FOMC) have decided now to begin raising interest rates. In the eight years of the booming Obama economic recovery, this is only the second interest hike. The first was a year ago, almost to the day, and that was the first since 2006. And one could easily argue that this last hike of 0.25% is barely on Obama’s watch, as it will have no effect on his presidency.

But they had no where else to go but up. Not that I’m a fan of rate hikes, but prior to last years pitiful 0.25% hike, the Fed’s interest rate had been at 0.0% for the previous seven years, when the FOMC knocked it down to zero in December 2008. read more

Another Year of Obama Recovery

by: the Common Constitutionalist

The much ballyhooed April jobs number is out and it once again shows how well the Obama economic recovery is going.

It’s been almost 7 years. Shouldn’t we have recovered by now? Heck, in Reagan’s seventh year, we were running like a well oiled machine, but I digress.

Yesterday Tyler Durden at Zero Hedge  had an interesting perspective on the One’s recovery progress. He wrote that underlying April’s great jobs number of 223,000 is a disturbing trend. Of that number, only 1000 manufacturing jobs were added.

He wrote: “Putting this in perspective, for every manufacturing job added in April there were 26 new waiters and bartenders confirming the robustness of America’s jobs recovery.”

Durden goes on to explain that “since the start of the second great recession in December 2007, there have been 1.4 million manufacturing jobs lost. They have been almost completely offset by the 1.3 million waiter and bartender jobs gained. In short: serving food is the new making stuff.”

He also attached a chart showing which industries gained and which lost. Interestingly while government added 10,000 jobs in April, the biggest losers were manufacturing, which gained only the aforementioned 1000 jobs and wholesale trade (business-to-business) which lost 4000 jobs. But by far, the biggest loser was mining and logging, which lost 11,000 jobs in March and another 12,000 in April. Gee – I wonder what type of mining might be losing so many jobs. Could it be the coal mining industry perhaps? read more