Jobless claims: Drop to lowest since 1969 as tax cut fueled economy powers ahead

[RoyBacon]

https://www.cnbc.com/2019/04/11/weekly-jobless-claims.html

The number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week, pointing to sustained labor market strength that could temper expectations of a sharp slowdown in economic growth.

Initial claims for state unemployment benefits fell 8,000 to a seasonally adjusted 196,000 for the week ended April 6, the lowest level since early October 1969. Claims have now declined for four straight weeks. Data for the prior week was revised to show 2,000 more applications received than previously reported.


This how we get wage growth boys.

[guitarjosh]

This is also the cycle low as a 4 week average.

[RoyBacon]

Big market rally under way. I hate buying in the pre when she is up this high but have to today. It's a global green day.

CVX buying Anadarko for $33b is darn interesting. CVX is off $4. Didn't see that coming.

[Sanity Check]

All of these positive economic and job articles are 100% fake news.

They never give Donald J. Trump the credit he deserves for this. They never correlate the connection between Trump's tax cuts, deregulation and other policies with positive economic impact.

.

[Optional]

Was an interesting segment on a show down here called Planet America last week where they analyzed wage growth in the US.

Apparently for the first time in a long time the lowest wage earners have enjoyed the largest % growth in the last 12 months. And the wage gap narrowed.

[Optional]

All of these positive economic and job articles are 100% fake news.

They never give Donald J. Trump the credit he deserves for this. They never correlate the connection between Trump's tax cuts, deregulation and other policies with positive economic impact.

.

Ha, you're right about the show I was talking about. They gave Trump begrudging praise but pointed out job numbers grew at the same rate under Obama.

[RoyBacon]

Ha, you're right about the show I was talking about. They gave Trump begrudging praise but pointed out job numbers grew at the same rate under Obama.

Much easier to grow jobs at 8% unemployment than 3.8%. Basically Obama had folks returning to work. Trump is actually growing jobs through companies expanding and new businesses.

The matrix that proves it is wage growth. When folks return to work or go to work at the burger shop wages will not rise. When business expands/new businesses open wages rise as competition for skilled/non skilled labor intensifies.

I honestly think wage growth is the single best indicator even though it lags leading indicators such as GDP, consumer confidence, ect.

[Optional]

True. I'm surprised there is job growth at all personally. In the face of increasing technology and low skill manufacturing rushing to Asia.

But more important than the job numbers, I think the low end wage growth is a very positive sign.

[Sanity Check]

Ha, you're right about the show I was talking about. They gave Trump begrudging praise but pointed out job numbers grew at the same rate under Obama.

.

Obama didn't actually create jobs. The economy was recovering from an economic crisis. It could be fair to say the US economy merely returned to its post crisis form, as it naturally would regardless of whatever policies were passed.

A case could also be made for the US economy recovering faster and with more robust numbers had $10 trillion not been added to the deficit and without the numerous tax hikes democrats added.

[RoyBacon]

True. I'm surprised there is job growth at all personally. In the face of increasing technology and low skill manufacturing rushing to Asia.

But more important than the job numbers, I think the low end wage growth is a very positive sign.

They are tax cut fueled. Businesses have more confidence and money and so do consumers.

It's nice to see the lower end of wages grow faster than the top end/mgmt. The US is just so screwed up politically. Half the country is just fine with wages declining aLa the Obama era. But we will enjoy the prosperity for now until the political winds blow it away.

[rkelly110]

.

Obama didn't actually create jobs. The economy was recovering from an economic crisis. It could be fair to say the US economy merely returned to its post crisis form, as it naturally would regardless of whatever policies were passed.

A case could also be made for the US economy recovering faster and with more robust numbers had $10 trillion not been added to the deficit and without the numerous tax hikes democrats added.

Exsqueeze me? That deficit the dems added was because of never ending wars you know who started under false pretenses.

Yeah, shit does roll down hill.

[Sanity Check]

Exsqueeze me? That deficit the dems added was because of never ending wars you know who started under false pretenses.

Yeah, shit does roll down hill.

Its not true. Obama's $1.4 trillion dollar economic stimulus program was far less effective than Trump's free program to achieve the same ends.

The affordable care act, "obamacare", was supposed to cost $2 trillion over 10 years and did nothing to make healthcare more affordable or available. Then there were the 20 tax hikes stacked on top of that which undoubtedly killed economic and job growth. Don't forget the bank bailout bill (TARP), killing net neutrality and numerous other bad regulation democrats passed that did the opposite of what they claimed it did.

Democrats did the same thing socialists and leftists in france and venezuela are doing. Big spending plans to kill the economy which fail to provide positive tangible benefit to taxpayers. Then big tax hikes to support the big spending. All of which do nothing aside from destroy wealth and productivity. Ultimately killing job markets and economies.

Democrats under Obama did a lot to kill small businesses and utilized tax revenues to pay for US jobs to be moved overseas to china. They did a lot to kill the US economy and job markets the same way AOC is doing today.

[rkelly110]

Its not true. Obama's $1.4 trillion dollar economic stimulus program was far less effective than Trump's free program to achieve the same ends.

The affordable care act, "obamacare", was supposed to cost $2 trillion over 10 years and did nothing to make healthcare more affordable or available. Then there were the 20 tax hikes stacked on top of that which undoubtedly killed economic and job growth. Don't forget the bank bailout bill (TARP), killing net neutrality and numerous other bad regulation democrats passed that did the opposite of what they claimed it did.

Democrats did the same thing socialists and leftists in france and venezuela are doing. Big spending plans to kill the economy which fail to provide positive tangible benefit to taxpayers. Then big tax hikes to support the big spending. All of which do nothing aside from destroy wealth and productivity. Ultimately killing job markets and economies.

Democrats under Obama did a lot to kill small businesses and utilized tax revenues to pay for US jobs to be moved overseas to china. They did a lot to kill the US economy and job markets the same way AOC is doing today.

What planet do you live on? That stimulus was govt loans on the premise it would be paid back with interest.
Most loans were paid back resulting in billions returned.

Obamacare wasn't implemented right away while they SAVED up for it. Who does that?

POS companies cut hours instead of giving their employees healthcare. Let that sink in for a moment the next time you
defend the right.

Kill small business? Why were there hiring signs everywhere I looked under Obama and are still seeing signs?

[RoyBacon]

Get your big boy pants on boys!

We are 500 points from a new All Time record close in the stock market. Going to be within 250 points in an hour.

[RoyBacon]

What planet do you live on? That stimulus was govt loans on the premise it would be paid back with interest.
Most loans were paid back resulting in billions returned.

Obamacare wasn't implemented right away while they SAVED up for it. Who does that?

POS companies cut hours instead of giving their employees healthcare. Let that sink in for a moment the next time you
defend the right.

Kill small business? Why were there hiring signs everywhere I looked under Obama and are still seeing signs?

Then where did the $9 trillion that Obama borrowed go? We already know half(a little less) went to wars. What did we get for $4.5 trillion? Answer: nothing

That's what I was trying to tell chico. Borrowing a trillion and turning it into $2 trillion = good. Borrowing $4.5 trillion and turning it into $0 = bad.

[d2bets]

Get your big boy pants on boys!

We are 500 points from a new All Time record close in the stock market. Going to be within 250 points in an hour.

42 points from new high (s&p500).

Still up less in the first 27 months than under Obama.

[rkelly110]

Then where did the $9 trillion that Obama borrowed go? We already know half(a little less) went to wars. What did we get for $4.5 trillion? Answer: nothing

That's what I was trying to tell chico. Borrowing a trillion and turning it into $2 trillion = good. Borrowing $4.5 trillion and turning it into $0 = bad.

I'd say most went to cover the states who had to pay unemployment insurance for 2 years.

[Sanity Check]

What planet do you live on? That stimulus was govt loans on the premise it would be paid back with interest.
Most loans were paid back resulting in billions returned.

Obamacare wasn't implemented right away while they SAVED up for it. Who does that?

POS companies cut hours instead of giving their employees healthcare. Let that sink in for a moment the next time you
defend the right.

Kill small business? Why were there hiring signs everywhere I looked under Obama and are still seeing signs?

.

Stimulus made the rich richer and the poor poorer. The same thing defense spending does with its war profiteering of military industrial complex benefiting mainly the wealthy in blood money. Neither simulus nor the bailout bill were paid back in full. The federal reserve actually "profited" around $40 billion from running TARP, if I remember correctly. When that news story dropped it was adding insult to injury and a big part of what motivated the advent of alternative currencies like bitcoin.

Under obamacare the government said they would hike taxes and spend trillions to improve healthcare. They spent trillions while doing absolutely nothing to fix the real problems. Then forced the private sector to provide healthcare to the public, essentially what the government was supposed to do with its trillions in spending but did not do. The private sector being forced to provide health insurance crippled the US economy and job markets.

Under a democrat majority we had police regularly cracking down on kids running lemonade stands. That's how far the left went to oppress small business and kill america's economy. Plenty of tax hikes on small businesses and the middle class. Plenty of unnecessary regulation that made it virtually impossible for US manufacturing to compete in global markets.

Now that Trump is rolling back many of those measures and bad trade agreements like NAFTA and TPP we're seeing the economy improve dramatically. Fake news is not saying anything about this, hoping to keep the public ignorant and uneducate on these topics. Whether or not they can succeed will be key going into 2020 and beyond.

What are leftists like AOC doing now? Bad mouthing big tech: google, apple, microsoft, etc. You know why? Their goal is to kill america's big tech sector to kill the american economy. The same thing leftists and democrats have been doing for decades, only they're being much more obvious and unapologetic about it.

[RoyBacon]

Probably not going to smash the all time record today boyz. Up 200. I could see a very strong finish today. Lot of money on the sideline that was thinking we were in a bear market is going to capitulate and grab some positions(or sharpen up their resume).

[khicks26]

[keely85]

Roy actually believes the tax cuts will be used for human capital lmao

It’s already been seen companies didn’t pay shit for taxes and reinvested nothing. GOP ain’t looking long term bc they can’t just blame shit on the Dems winning in the mid terms. Economists said the tax cuts would penetrate the economy eventually. It’s gonna correct itself. I don’t cheer for market downturns, but claiming the tax cuts helped anything long term isn’t accurate.

[RoyBacon]

Keely you must be blind in one eye and can't see out of the other.

Great rally today and we are now 240 points from an ALL TIME record.

Josh, are you here? I'm not waving the victory flag yet. But you have to admit this growth is showing signs of breaking to the upper end of the up side. 100 days ago we were in a quote "bear market". The fundamentals are simply too strong. The tax cut has fueled perpetual underlying strength.

[Brooks]

i really havent believed any government stats since i was a wee lad. since ive been back in the united states after a very long away, ive noticed restaurants are packed despite prices being what i would have considered very high 20 years ago. even the fast food places are 10-15 deep in the drive thru's during lunch. people dont seem to like getting out of there car anymore. supermarket prices are remarkably low compared to the rest of the world in my travels especially for meat. it seems if you have money, you have plenty and if you dont, you have nothing. the homeless/beggars are everywhere now and in 1999 i dont recall seeing anyone without an obvious mental illness. so while these stats might be encouraging if you believe them, a vast number of americans arent participating in it and i really dont know what to do about it. oh one other thing is im a very nosy person and i notice alot of people using their snap/ebt cards at the supermarkets and as a former democrat,republican and libertarian i will never vote for someone who wants to cut them after what ive seen in the last few months

[rkelly110]

.

Stimulus made the rich richer and the poor poorer. The same thing defense spending does with its war profiteering of military industrial complex benefiting mainly the wealthy in blood money. Neither simulus nor the bailout bill were paid back in full. The federal reserve actually "profited" around $40 billion from running TARP, if I remember correctly. When that news story dropped it was adding insult to injury and a big part of what motivated the advent of alternative currencies like bitcoin.

Under obamacare the government said they would hike taxes and spend trillions to improve healthcare. They spent trillions while doing absolutely nothing to fix the real problems. Then forced the private sector to provide healthcare to the public, essentially what the government was supposed to do with its trillions in spending but did not do. The private sector being forced to provide health insurance crippled the US economy and job markets.

Under a democrat majority we had police regularly cracking down on kids running lemonade stands. That's how far the left went to oppress small business and kill america's economy. Plenty of tax hikes on small businesses and the middle class. Plenty of unnecessary regulation that made it virtually impossible for US manufacturing to compete in global markets.

Now that Trump is rolling back many of those measures and bad trade agreements like NAFTA and TPP we're seeing the economy improve dramatically. Fake news is not saying anything about this, hoping to keep the public ignorant and uneducate on these topics. Whether or not they can succeed will be key going into 2020 and beyond.

What are leftists like AOC doing now? Bad mouthing big tech: google, apple, microsoft, etc. You know why? Their goal is to kill america's big tech sector to kill the american economy. The same thing leftists and democrats have been doing for decades, only they're being much more obvious and unapologetic about it.

So, is that a long winded reply saying you are for corporate and their shenanigans? I'm going to say apples and you're gonna say oranges or is that origins.......