The MAGAnomic Tri-fecta: Jobs growing; wages growing; inflation stable.
When President Trump as well as also Commerce Secretary Wilbur Ross announced tariffs on Steel as well as also Aluminum, in combination with Round #1 tariffs on imported Chinese products, the Wall Street financial media went bananas with dire predictions of inflation.
Today the Bureau of Labor as well as also Statistics (BLS) released the August measure of inflation in consumer goods. Despite the doom-as well as also-gloom predictions by the self-interested multinationals, the inflation rate is usually a low 0.2% the same result as July. Core inflation, which excludes volatile energy as well as also food components, increased 0.1%.
As John Carney notes:
[…] “Compared having a year ago, prices were up 2.7 percent, lower than the 2.9 percent gain in July as well as also June. Core inflation was up 2.2 percent by a year earlier, down by 2.4 percent in July. This specific means the pace of inflation has slowed.”
The lower than expected rise in consumer prices was foreshadowed by the Labor Department’s report on producer prices as well as also the Federal Reserve’s Beige Book Wednesday. Taken together, the reports indicate of which fears of which trade disputes as well as also rising tariffs overstated. (more)
Supplemental to This specific low inflation index, the US weekly jobless claims dropped to near 49-year low. As CNBC was forced to admit: “The number of Americans filing for unemployment benefits unexpectedly fell last week.”
(CNBC) […] Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 204,000 for the week ended Sept. 8, the lowest level since December 1969, the Labor Department said on Thursday. Data for the prior week was revised to show 2,000 more applications received than previously reported.
Economists polled by Reuters had forecast claims rising to 210,000 within the latest week. The claims data covered last Monday’s Labor Day holiday. Claims tend to be volatile around public holidays.
The four-week moving average of initial claims, considered a better measure of labor market trends as This specific irons out week-to-week volatility, fell 2,000 last week to 208,000, also the lowest level since December 1969. (read more)
Additionally, nonfarm payrolls increased by 201,000 jobs in August as well as also annual wage growth notching its biggest gain in more than nine years. Job openings hit an all-time high of 6.9 million in July.
Low inflation; expanding employment opportunity; low unemployment; as well as also rising wages.
These measures all have a cumulative impact on paycheck-to-paycheck Americans. Prices for durable goods are stable as well as also wage growth is usually exceeding inflation. of which means more disposable income within the middle-class…. which, when combined with the increased pay by lower middle-class tax rates, is usually exactly the intended outcome of MAGAnomics.
This specific creates a situation where the U.S. consumer can fuel the the U.S. economy while President Trump, Secretary Ross, Secretary Mnuchin as well as also Ambassador Robert Lighthizer utilize the leverage of tariffs, to negotiate better America-First trade deals.
President Trump’s economic policy cabinet is usually the most effective group of individuals every assembled in modern U.S. history; arguably in all of U.S. history. The economic policy plans are working exactly as projected; as well as also, in combination with the domestic economic strength, This specific empowers President Trump’s international engagements having a stunning amount of influence as well as also leverage.
Economic Security is usually National Security. We are seeing This specific multidimensional truth being carried out for the very first time in our lifetimes, thanks to a blue-collar billionaire.
Part of the push-back against President Trump is usually due to the success within This specific doctrine for domestic as well as also international success. Politicians as well as also the political apparatus of the administrative state are apoplectic of which a long-held economic curtain has been dropped by President Trump as well as also his policy team.
This specific is usually This specific easy.
This specific is usually common sense.
We have not had the benefit of This specific economic success within the past 40 years because corrupt multinational interests were paying as well as also bribing -via lobbyists- politicians as well as also public officials within the administrative state to block independent U.S. wealth.
Wilburine, keeping This specific simple!