The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Tuesday, July 25, 2017

Trump Tweets Labor Chart (Without Considering The Full Message)

political cartoons - Google SearchOh, take a look Trump posted a chart showing how wonderful are things regarding his economy. The post seems to carry a few dynamics.

First thought: the Chart shows the eventual fallacy of Reaganomics as a viable long-term economic policy.  Especially when coupled with GOP inherent policy additions like free markets with little to no regulation. Wall street and bankers literally set the nation on a path of economic ruin; rescued only after the GOP relinquished control of the White House. The second shaded red portion of the chart identifies a telling period in GOP history. It also shows an almost immediate reversal of GOP economic failure once the Obama Stimulus kicked-in. 
Donald J. Trump‏Verified account @realDonaldTrump 2h2 hours ago
More "America's Labor Market Continues to Boom" JOBS, JOBS, JOBS!

On May 30, 2017 Bloomberg Conference Board also published the following chart with associate verbiage.

Americans this month became less upbeat about the outlook for jobs and business after sentiment reached a 16-year high two months ago in anticipation Washington lawmakers would help recharge the economy, according to data from the New York-based Conference Board released Tuesday.
Despite the drop, optimism is still running high on an economy that has kept producing a steady flow of jobs, rising stock and home prices and at least gradual gains in wages. The index of sentiment about current conditions is the second-highest since August 2001. The decline in expectations signals Americans may be growing less upbeat about the prospects for fiscal measures that would help propel growth. At the same time, it probably would take much bigger or more sustained decreases in confidence to curb the consumer spending that remains the primary engine for the world’s largest economy.

End May conference Board piece.

Alas, Trump's people didn't bother with a May report which included a dip in consumer confidence from a May 2017 high.

Trump's post obviously handed to him by a staffer or cabinet member with much more revolves in reading or studying economic data, was taken from the most recent Conference Board report which revolves around perception of a "sunnier" US economy.

The report is upbeat to say the lest. But there is another perspective. 

How desperate are Trump's economic staff they grab a report which clearly shows the impact of Obama's and Democrat Party administration for a full eight-year period?  

Let's look again.

Yes, labor markets are growing. but look more close at the far right portion of the chart. Since late 2016 the trend indicators show a marked spike upwards with a continuous upward trend through the date of this report.  Are we to believe Trump's not at that point economic team was at work improving the labor picture?

Is it possible the Trump team is again making a huge mistake in having their leader moniker and brandish a report with just six months into the term? It seems awful short-sided as well as reflecting effective administration from the Obama team. 

We realize conservatives are small-minded (provincial) people. They don't respect the past and they are well documented as not seeing well into the future. What is the real prospect Trump will get the desired pop from this mornings post? 

Of course, someone may have handed Trump the chart or posted it to cut back on Trump's disastrous history and reality of posting whacked out silliness each and every day.  A history of tweets at 3:30AM.

Regardless of one's political views, the early morning economic tweets peaks volumes about a failing administration.
Don't sell the skin before you've caught the bear.

One must not be too hasty in one's rejoicing.

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