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Posts Tagged ‘economy’
September 18th, 2020 at 11:46 am
Image of the Day: Record One-Year Income Rise in 2019
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From the U.S. Census Bureau, median household income rose by 6.8% in 2019 – a record one-year increase – to a record high of $68,700.  Notably, under the supposed racist President Donald Trump, those 2019 income gains were largest for minority groups.  And since 2016, median income has risen 9.7%, which is fantastic news for Americans, even if it might be bad news for leftists in their disinformation campaign:

 

Record Income Rise in 2019

Record Income Rise in 2019

 

September 11th, 2020 at 12:08 pm
Stat of the Day: Americans Lead Developed World in Economic Optimism
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Despite the leftist onslaught of doom and despair, it’s encouraging to see that even left-leaning Pew Research data shows Americans leading the developed world in terms of economic optimism, with the highest percentage of people saying that they expect improvement over the next year.  In fact, we’re the only nation with a majority reporting optimism:

 

 

U.S. Leads World in Economic Optimism

U.S. Leads World in Economic Optimism

 

June 5th, 2020 at 9:46 am
Trump Bump: Record New Jobs Added in May, Unemployment Unexpectedly Plummets
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Defying nearly universal economists’ expectations, it was just announced that the American economy added a record 2.5 million jobs last month, and the unemployment rate actually fell sharply to 13.3%.  Surveyed economists had anticipated a loss of 8.3 million jobs, and a rise in unemployment to 19.5%.  The Dow instantly shot up nearly 1,000 upon opening, and we’re nearly back to its pre-coronavirus record levels.

 

March 30th, 2020 at 10:34 am
Some Potentially VERY Good Economic News
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Here’s some potentially VERY good economic news that was lost amid the weekend news flurry.  Those with “skin in the game,” and who likely possess the best perspective, are betting heavily on an upturn, as highlighted by Friday’s Wall Street Journal:

Corporate insiders are buying stock in their own companies at a pact not seen in years, a sign they are betting on a rebound after a coronavirus-induced rout.  More than 2,800 executives and directors have purchased nearly $1.19 billion in company stock since the beginning of March.  That’s the third-highest level on both an individual and dollar basis since 1988, according to the Washington Service, which provides data analytics about trading activity by insiders.”

Here’s why that’s important:

Because insiders typically know the most about their companies’ outlook, evidence of buying can signal corporate optimism and reassure investors, especially in times of turmoil.  ‘I’ve never seen a number like that before,’ Dr. Nejat Seyhun said, referring to the buy-to-sell ratio that he calculated for the energy sector.  Beyond Marathon Oil, insiders at companies including Exxon Mobil Corp., Sunoco LP and Continental Resources Inc. have also purchased shares.  He said the increased level of buying may signal that energy executives believe ‘the oil price war is not going ot last too long.’  Dr. Seyhun’s research over the years has found that insider activity can be a ‘solid’ predictor of future returns.  Stocks that insiders purchased during the 1987 stock market crash ‘bounced back,’ he said.”

We often malign insiders who dump stock before a downturn, so in this case we should welcome the signs of spring that insiders who tend to be most knowledgeable and possess actual skin in the game are heavily optimistic.  As we noted in our Liberty Update commentary last week, that may signal a closer similarity to 1987’s crash, which witnessed a return to normalcy and prosperity soon thereafter, as opposed to 1929 or 2008.  Staying the course on the lower-tax, less-regulatory environment that gave us the strongest economy in history when we entered this pandemic will help along the way.

 

 

March 6th, 2020 at 8:46 am
Breaking: Incredible U.S. Jobs Growth in February
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This is incredible.  Amid the coronavirus scare and economic malaise across the rest of the world, the Labor Department reports that job growth in the U.S. exceeded expectations by 100,000 in February:

Nonfarm payrolls grew far more than expected in February as companies continued to hire amid a growing coronavirus scare.  The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate was 3.5%.  Economists surveyed by Dow Jones had been looking for payroll growth of 175,000 and a 3.5% jobless level.  Average hourly earnings grew by 3% over the past year, in line with estimates.”

Although the effects of the coronavirus create uncertainty going forward, the Trump Bump has continued.

February 14th, 2020 at 10:06 am
Image of the Day: Economy Even Better Than We Realized
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Americans already expressed record satisfaction on economic conditions in the U.S., over three years into President Trump’s tenure.  Turns out that things are even better than we initially realized, as employment data from the end of 2019 was just significantly updated:

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Even Better Than Initially Realized

Even Better Than First Realized

 

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January 24th, 2020 at 12:34 pm
Image of the Day: More Fantastic News from Gallup – Economic Confidence Highest Since 2000
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More phenomenal news from Gallup.  Consumer spending accounts for approximately two-thirds of the U.S. economy, and economic confidence has now reached its highest point since 2000, when the mainstream media couldn’t stop talking about how great things were.  Thank you, deregulation and tax cuts.

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Thank You, Tax Cuts and Deregulation

Thank You, Tax Cuts and Deregulation

 

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January 8th, 2020 at 12:02 pm
Image of the Day: Lowest-Wage Industries Benefit Most Under Trump
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From the official federal Bureau of Labor Statistics and our friends at the American Enterprise Institute (AEI), a nice visualization of how the Trump economic agenda has most benefited those in the lower-wage industries starting in 2018 after tax reform took effect.  So much for leftists’ class warfare attacks on tax cuts and deregulation.

 

A Trump Bump

A Trump Bump

 

 

August 19th, 2019 at 10:09 am
Image of the Day: Middle Class Shrinking… In a Good Way
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From AEI, something to remember when we’re told that the middle class in America is disappearing.  It’s disappearing because people are moving upward:

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Middle Class Disappearing... Upward

Middle Class Disappearing… Upward

 

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June 14th, 2019 at 2:30 pm
Image of the Day: Gallup Poll on Americans’ View of Job Market Hits All-Time Record
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In our Liberty Update commentary entitled “No, Scandinavia Doesn’t Vindicate Socialism” this week, we rightly ridicule admitted socialist Bernie Sanders, including his odd claim that “we now have an economy that is fundamentally broke and grotesquely unfair.”  Well, as this Gallup survey illustrates, he’s swimming upstream against American public opinion.  Specifically, in a survey that Gallup has conducted periodically since 2001, the public’s view of the job market has now hit an all-time record high:

Sorry, Socialists

Sorry, Socialists

 

Perhaps this helps explain why Sanders has suddenly plummeted in 2020 Democratic candidate surveys, although one wonders how long people like Elizabeth Warren can avoid the same fate.

May 13th, 2019 at 12:20 pm
Image of the Day: Anyone Thinking We’re Undertaxed?
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From the mild-mannered yet oft-censored Dennis Prager, for anyone feeling undertaxed or who advocates even higher taxes:

Anyone Feeling Undertaxed?

Anyone Feeling Undertaxed?

 

 

 

 

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May 6th, 2019 at 10:37 am
Image of the Day: Worker Productivity Finally Surges, and Why That’s Important
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After years of Obama economic malaise, American Enterprise Institute (AEI) highlights how worker productivity is finally surging following the election of Donald Trump and implementation of his deregulatory and tax-cutting agenda:

Worker Productivity Finally Surging

Worker Productivity Finally Surging

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Here’s why that’s important, as AEI’s James Pethokoukis notes:

[P]roductivity increased at a rapid 3.6% annualized rate during the first three months of this year.  On a year-ago basis, this puts productivity growth at 2.4%, the fastest pace since early 2010 and far better than the 1% pace that has typified the post-financial crisis expansion.  As Barclays economist Blerina Uruci told The Wall Street Journal, ‘That means we can grow at a faster pace on a more sustained basis.  It also means the economy can run hotter for longer without causing inflationary pressure.’  Moreover, consistent 2%-plus productivity growth makes a 3% real GDP economy less of a stretch.”

March 19th, 2019 at 12:57 pm
Image of the Day: American Exceptionalism
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Another nice illustration of American Exceptionalism.  We’re just 4% of the world’s population, but a quarter of its prosperity:

American Exceptionalism, Cont'd

American Exceptionalism, Cont’d

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November 30th, 2018 at 9:28 am
Image of the Day: So U.S. Manufacturing Wasn’t Dead After All
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People like Barack Obama, rationalizing his unsatisfactory economic stewardship, assured us that manufacturing was a thing of the past, and not coming back.  Well, a funny thing happened following his departure:

 

Barack Was Wrong

Barack Was Wrong

November 9th, 2018 at 9:16 am
Image of the Day: Meanwhile, On the Economy…
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While attention can be distracted by shiny objects elsewhere, a nice new illustration of the U.S. economy’s revitalization beginning in 2017, as the procession of deregulation and tax-cuts revitalized an economic cycle previously on weary legs:

An Economic Surge

An Economic Surge

 

October 30th, 2018 at 12:00 pm
Image of the Day: Under Trump, the Poor Get… Richer
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From the U.S. Senate Joint Economic Committee, a stark illustration of the sharp increase in wage and salary growth for full-time employees in the bottom 10% of earners:

The Poor Get Richer

The Poor Get Richer

 

 

October 22nd, 2018 at 10:19 am
Image of the Day: Tax Cuts Bring Dollars Back to the U.S.
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From our friends who do such great work at the Tax Foundation, take a look at how tax cuts have led to companies bringing back more cash to the U.S.:

Tax Cuts Spur Repatriation

Tax Cuts Spur Repatriation

October 15th, 2018 at 10:28 am
Shattering the Decade of “New Normal” Economic Sluggishness
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Consumer spending accounts for approximately two-thirds of the U.S. economy, and this helpful chart from the U.S. Senate’s Joint Economic Committee illustrates why our economy suddenly turbocharged over the past two years from its decade of sluggishness that we were told was the “new normal”:

Turbocharging the U.S. Consumer Economy

Turbocharging the U.S. Consumer Economy

September 24th, 2018 at 1:06 pm
Image of the Day: Something Apparently Turbocharged U.S. Economic Sentiment in 2016
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From the left-leaning Pew Research Center, note how something caused the number of Americans responding that the state of our economy is good to turbocharge past the Europeans and Japanese around 2016.  Perhaps Paul Krugman of The New York Times has a theory.

Something Happened Around 2016

Something Happened Around 2016

August 24th, 2018 at 12:56 pm
Quote of the Day: From Obama Stagnation to Trump Acceleration
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Obama apologists desperately claim that the current economic acceleration is somehow attributable to him, never mind that the acceleration began as soon as the Trump Administration began reversing Obama policies by cutting taxes and reducing regulation.  In The Wall Street Journal today, two Arizona State University professors – Nobel laureate Edward Prescott and Lee Ohanian – debunk that claim in a commentary entitled “The Good Times Can Roll On.” As an ASU alumnus, it offers particular pleasure to recommend their entire piece for reading and passing along to others who may need it:

It’s clear the recovery ended in 2014 because the two hallmarks of recovery –  investment’s share of gross domestic product and labor input relative to the adult population – stopped increasing.  This left a large gap between actual output and the output level that would have occurred had the economy recovered to its prerecession growth path.  According to our calculations, the U.S. cumulatively lost about $18 trillion in income and output between 2007 and 2016.  Everything suggested this shortfall would persist or even grow.

Yet economic performance began to improve beginning in the first quarter of 2017.  Real GDP growth accelerated to about 2.7% between the end of 2016 and the second quarter of 2018, up from about 2% between 2014 and the end of 2016.”

Oh, and as football season approaches, go Sun Devils.