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September 07, 2018

Trump on Obama's Speech: "I'm sorry, I watched it, but I fell asleep. I found he's very good. Very good for sleeping.:

Amusing. It's nice to have someone representing us who doesn't bow to the media pressure to flatter The Precious 24/7.

Obama had gotten snippy that Trump was getting (some) credit for the booming economy.

He did some petulant whining about that:

Obama mentioned the financial crisis at the beginning of his term saying "When I came into office in 2009 we were losing 800,000 jobs a month."

...

"I mention all this just so when you hear how great the economy is doing right now, letís just remember when this recovery started," Obama then said, "I'm glad it's continued but when you hear about this economic miracle thatís been going on, when the job numbers come out, monthly job numbers, suddenly Republicans are saying 'It's a miracle.' I have to remind them, actually, those job numbers are the same as they were in 2015 and 2016."

Nah brah.

Trump responded:

"We were heading south, bad numbers there in the last couple of years, it was this way and going in the wrong direction. It was the weakest recovery in the history of our country."

So here is the headline for August job growth, from the unfriendly source Reuters: August Job Growth Surges.

Job growth "accelerated," with 210,000 new jobs being added, and, even more remarkably, wages increased at the fastest rate in nine years.

We had an eight year period of wage stagnation under Obama (and wages didn't grow much under Bush, either).

The economy is growing so quickly that the Fed is finally raising interest rates (to manage the growth and give us room to cut rates during the inevitable slowdown) after eight years of zero or below zero interest rates and three (or more?) rounds of "Quantitative Easing," dumping paper money into the economy.


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posted by Ace of Spades at 04:10 PM

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