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June 03, 2018

For the Love of Cowbell...and Gloating

But Mostly Gloating

Ace's Friday cowbell post linked to a NYT piece in which the author uses many synonyms for the word 'good' to describe the latest jobs report. I'd like to highlight an important element of that article.

That element being the hilarious moaning and dismay in the comments section. Good economic news is anathema now, same as it was during W's terms.

A few curated samples below the fold. Cut and pasted, no more links for them.

Words are not the economy. Words are often just opinions and represent what people want to believe. Words, opinions and statistics must always be seen in context and weighed against each other.

Not sure how economic indicators are supposed to be communicated without using words and statistics. Perhaps the government should just distribute a picture of a busty gamer girl, like Ace does.

The fact is that the Congressional budget office has projected an increase in at least a trillion and half extra debt in the next decade due to the decrease in taxes over the next ten years. The fact is that wages have stagnated for the last 30 years and have barely budged for the poor and middle class.

The fact is that when an economy grows, you can collect more tax revenue even at lower rates. Now: a quiz. If you can correctly tell me what happens to wages when the labor market gets tight, I will give you this dog biscuit.

But seriously, there's a lot of this same complaint about wages in the comments. Not a lot of thought being put forth about what else is going on in the economy that makes it hard for people to live a decent life on a low-to-middle income.

Nonsense. The economy doesn't react that quickly. This good news is a result of Obama's steady, smart policies.

You guys need to get together to work out your story.

Great news! Now, someone go break it to all the folks living under the underpasses around here, and in the flood control channel, and in the parks, the bus stops and squatting in vacant homes.

I was wondering where all the homeless people went! They all disappeared from the news while Obama was president. Thank goodness, I was worried Obama had disappeared them, same as he did to the U-6 unemployment data.

Adjusted to reflect those who have given up and left the job market, the number of unemployed remains over 7%. Add in older workers who have become "consultants" or are otherwise self-employed, due to age discrimination, which remains rampant, and the figures are even higher.

Oh! It's back! Happy day! Liberals rediscover numbers! Now maybe we can finally talk about what the U-6 was in 2010, jackass.

I am glad that the recovery, which started in the Summer of 2009 [HAAAA HA HA HAAA!!! -ed] is continuing, but before we accept our laurel wreath, we should try to address the issue of everyone in America being paid a livable wage. The larger measures of the number of families that are living below the poverty line and the increasing amount of personal debt including the student loan debt doesn't look good to me

I live in the Washington, DC "bubble" so it is difficult to observe the evidence of flat or declining wages that has taken a toll on the standard of living and health of many American's. [emphasis mine. -ed] I am connected to school teachers and sense that incomes have been flat for decades.

I recently attended a commencement ceremony for educators at a celebrated University and was informed by the principal guest speaker that 25% of the children coming through our education system are from homes below the poverty line.

I suggest that the NYTimes direct its terrific graphics team to create a national map of the areas that are experiencing improving incomes, and put some journalists on the ground to interview the workers who find their families in the bottom 80 percentile.

The map, and demographic take on incomes may spark a new vocabulary.

I am also interested to see the results of the Tax Cut as it matures in the US economy.

Where...how do you even begin with this? This individual wrote in specifically to state that they know nothing, except what is fed to them through liberal channels. I guess we should be encouraged that they are exhorting the NYT to do something about it, like maybe engage in actual acts of journalism out among the common folk. Not gonna happen, of course.

Um, yeah, the pet store near me is hiring full or part-time. Likely $7.25/hour. Or I could drive for Uber. With 3 degrees, no, I'm staying home. I'm lucky that my investments make more money than I ever will again. Call me when the job market is desperate for 55 year old data analysts.

This guy is unclear on what constitutes a bad situation, or what the economy is supposed to be doing for him.

I call this next one, 'Dementia and the Loss of History.'

Ten years lost for no reason because of Bush and his pals.

And finally, 'Cause and Effect: Harder than it Looks, Apparently.'

What this story, and employment news more broadly, highlights for me is our critical shortage in immigrant labor. We need foreign workers to fill a wide range of jobs that many Americans are simply not fit or willing to undertake. Do we expect a welfare mother to pick berries, the homeless to deliver pizzas, or former blue-collar workers to do yard work?

Besides missing the point about labor supply and its effect on wages, the rest of this comment (that I clipped off) mentioned Mexicans. The reason liberals see racism everywhere is because it's in the lens.

Anyway, it's fun to gloat at the sad sacks who cannot be happy for the improvement in the lives of others, because Trump.


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posted by Laura. at 12:15 PM

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