Friday, October 6, 2017

The Collapse Begins?

Surely the most important thing in the news today, even if you won't see much straight talk about it, or much coverage at all for that matter:

The economy lost 33,000 jobs in September.  That makes last month the first month in seven years that there has been negative job growth.  Let's take a look at things:

So, that broke a string of 83 straight months of job growth, as you can see from the above chart.  Let's look at this a little closer, however.  The red lines here are months under Republican Presidents, and the blue lines are months under, well, that Obama fellow.  You can see what the previous Republican administration left Obama: an economy losing 800,000 jobs a month.  Under Obama, things began to improve almost immediately.  Of course, the damage done by Republican economic policy was so massive that it took over a year for Obama to bring job growth back, but then he pretty much continued it throughout the whole rest of his Presidency, creating 11.3 million jobs despite continued Republican attempts to damage the economy.

Well, here we are, back with a Republican administration, and Republican economics, and down go the numbers.  Of course, Republicans are blaming it all on the hurricanes, at least until tomorrow, when they will have found a way to blame things on Obama and Hillary, but the stark fact remains:  Republican President: a complete collapse in job generation, nearly leading to a depression; Democratic President, a depression averted and 83 months of job growth; another Republican President and it takes less than a year for job losses to return.

And if you are wondering about the Republicans' response to all of this, here are the words of Trump's National Economic Council Director Gary Cohen:

"We at the White House are very excited about the numbers," Cohn said during an interview with Bloomberg TV. "You're right, there is some noise in the number because of the hurricane, and as you said you discount that noise out."

They are very excited about the first job losses in over seven years!  This has to stand as one of the greatest examples of Orwellian doublespeak since Eric Ludendorff assured the German people that they were winning the First World War, in September of 1918.  They are very excited!  So you should just take it for granted that nothing could have pleased them more than job losses!  Now, get about your business (if you have any;) nothing to see here, folks.

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