Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising, border secure, S.C.: No WH chaos!
Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising, border secure, S.C.: No WH chaos!
Today's potty break leaves us with a surprise in the bowl.
• Highest Stock Market EVER This is apparently correct. However, this isn't actually a good thing, most experts on the subject agree. In fact it's a greatly overheated market that resembles the dot com bubble.
• best economic numbers in years Also more or less true. Now, ironically this is due in part to government spending, although consumer spending is up. But housing has tumbled, the dollar is extremely weak, and growth is predicted to hit the skids. It's also worth noting that these markets were betting on the ACA getting repealed, among other things. Next month's numbers will be more telling in some ways.
• unemployment lowest in 17 years Also true! He's on a roll. While some are concerned that low unemployment will increase wage pressures and soften the economy, at least a lot of people have found jobs. Also, unemployment actually rose this month, which may be a harbinger. And wages are down; it's that old joke about there being so many jobs available, everybody has two of them to make ends meet.
• wages raising Let's overlook the grammar here. Wages are in fact lagging, but Trump was doing so well with this tweet I hate to take this away from him.
• S.C. Someone must have recently told him he was doing a great job because he got to fill the Supreme Court seat that was denied Obama. A win from April is still a win.
And then, finally:
• no WH chaos! In fact last week is generally regarded as the most chaotic week in any White House since Reagan was shot, and that chaos was just, you know, because of an assassination attempt. This is the collapse of order in the Executive branch we're looking at. Utter, complete, blinding pandemonium.
So while this tweet had some unexpectedly accurate good news in it, that good news in some regards represents a manic market, and in other regards reflects shifting trends in labor and other factors. Things are settling into new patterns. Trump is happy to take credit for good news, and I can understand why.
But to deny the chaos in his administration is to deny the shape of the Earth. I sincerely hope the good news remains good.
Posted Jul 31, 2017, 2:32 PM UTC