Sponsored Content




Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!



Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups

NoVaMoMe 2024: 06/08/2024
Arlington, VA
Details to follow


Texas MoMe 2024: 10/18/2024-10/19/2024 Corsicana,TX
Contact Ben Had for info





















« Washington Post Columnist Rips Rachel Maddow for Promoting Steele Dossier Conspiracy Theories for Three Years | Main | Two More Virginia Counties Declare Themselves Second Amendment Sanctuaries, Making Ninety One Percent of Counties in Rebellion Against Democrat Gun Confiscation »
December 27, 2019

Economic News: Yuge. The Yugest.

Women, Kurt hardest hit.


The U.S. economy proved remarkably resilient in 2019, defying recession fears that dominated the headlines throughout the year. The economy has entered the longest expansion in American history, surpassing the economic boom of the 1990s.

United States consumers, buoyed by the strong labor market, have continued to drive economic growth during the past year against a backdrop of weak business sentiment.

Increased hiring and rising wages have powered consumer spending, which accounts for more than two-thirds of the U.S. economy. The stock market also rose steadily throughout the year, boosting household income and allowing people to spend more.

Although the economy slowed down some from 2018's great 3% growth rate, 2019 was marked by a global economic slowdown/recession, and the US "powered through" that, as they might say of Hillary Clinton having a seizure on the street.

The United States "is the only Group of Seven countries that will post growth above 2 percent this year," they wrote in a Wall Street Journal op-ed, adding that tax reform boosted productivity and wages.

I'm not a fan of Amazon or Jeff Bezos, but the huge sales the online giant recorded are bad news for Democrat Socialists (by which I mean, "Democrats") who want to claim that Trump's policies are hurting people.

The bonanza lifted the NASDAQ above 9000 for the first time in history.

Amazon's "record-breaking" holiday season drove the stock up 4.5% on Thursday and helped lift the Nasdaq composite index above 9,000 for the first time ever.

All stocks indexes are up, bigly:

Also joining in the fun was the S&P 500, which climbed 0.5%, to close at 3,239.91, after having touched a new high of 3,240.08 in intraday trading. The Dow Jones industrial average topped out at a record 28,624.10 before giving up a few points to close at 28,621.39 for a 0.4% gain.

But is this just a "Good Economy for the 1%," as Democrats grouse?

Nope! Not only is unemployment at 50 year lows -- nearly the lowest in all of human history -- but people are receiving higher wages.

People were able to spend at that pace because incomes allegedly rose 0.5 percent in November, compared to expectations of just a 0.3 percent increase. And the zero gain in incomes in October was revised to an increase of 0.1 percent.

Also good news. On those numbers alone, the president is in good shape.

...

The results of that survey were also relatively good. Overall, 49 percent of those who were asked said they had received a pay increase of some sort over the past 12 months.

That's up from just 38 percent in 2018. And those were the best results since 2016.

The one possibly negative number the analyst cites there is that 55% of people earning $50,000 per year or more reported a wage increase, while only 43% of lower wage earners did.

Still, that sounds not too bad to me. Only 36% of those making $30,000 or less reported a wage increase, but the analyst suspects this is just an error in the data. He figures that low wage earners should see higher wages due to many states jacking up the minimum wage.

But then, a lot of people might have been laid off and forced to work part-time.

Who knows, maybe self-destructive Democrat economic policies will achieve the only thing Democrats care about, increasing support for self-destructive economic policies.

A more serious risk is that if people keep making higher and higher wages, the Fed will raise interest rates to stave off price inflation, the inevitable side-effect of wage inflation.

Most of this via Instapundit. Instapundit also points out this bright indicator for the future: the oil glut is real, and it's going to stick around for a long time.

Chevron's latest multi-billion dollar asset write down indicates one thing: that oil glut is real and will continue to affect oil prices (NYSEARCA:USO) in 2020. In fact, I won't be surprised if even other oil majors come up with similar write downs in near future. In my earlier article on oil, I had focused on the downward effects of rising global crude oil inventories on oil prices. The market is aware that the current spike in oil price is not related to supply-demand fundamentals, but on expectations that U.S. - China trade war has finally de-escalated.

That analyst notes that OPEC is trying to push up the price of oil by throttling supply -- cutting 500,000 barrels of production -- but he does not expect that to have any long-term impact, as Middle East oil continues to fade in importance thanks to US fracking.

Bonus: The global stock markets increased in value by $17 trillion in 2019.


digg this
posted by Ace at 03:21 PM

| Access Comments




Recent Comments
Ben Had: "Good morning to one and all. Today I will once ..."

Anna Puma: "Ciampino re: [i]Patriot Games[/i]. Forget the m ..."

BifBewalski [/s] [/u] [/b] [/i]: "NO! Everything else but not that. I hate when that ..."

m: "68 Zealotry short circuits introspection and empat ..."

Ciampino - Update @100: "Well somebody on an AoS blog a couple of days ago ..."

m: "65 Good morning everyone. Thank you Pixy Misa. ..."

Puddleglum, cheer up for the worst is yet to come: "[i]76 Fury as photo of Hamas victim Shani Louk's n ..."

Tonypete: "Probably mortadella or salame. Posted by: Ciampin ..."

Eromero: "Climate change is like the Terminator to the left ..."

JT: "Have a good one and stay safe Skip ! (watch out ..."

Jamaica : "Most games started at 3:10 yesterday. I don't thin ..."

Tonypete: " Should start to get out of here, hopefully a coup ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64