It is pretty sad when a five year old knows more about economics than the former Chair of the Federal Reserve and current Secretary of the Treasury. It is sad that a five year old has more mental capacity to face reality that the incoherent, confused Joe Biden.
“Ask a first grader if he’d do his household chores if he got the same amount of money or even more from just sitting home and playing video games and you’d get the right answer: No. This is something that escapes the brain trust running this administration. It also escapes the ninnies who write for corporate media. The Jobs Report that came out this week was terrible, making widespread expectations by experts and the media the subject of well-deserved ridicule.
In most places in the U.S. between stimulus money, government bonuses, rent moratoriums, free food stamps and free health care, many workers would LOSE money if they worked. Government is the cause of the highest number of jobs available in American history and the unemployment going up. Too bad the Constitution does not allow for the election of a five year old as President.
By Clarice Feldman, American Thinker, 5/11/21
My grandpa once told me, ”All my grandchildren were born smart. The longer they go to school, the dumber they get.” I thought he was teasing, but now that I’m his age, I see his point: You have to have spent a lot of time in school to be as dumb as the experts on everything including economics, energy policy, and even vote fraud. (and I’m not even getting into academia’s participation in gender bending, history revisionism, pronoun parsing like “birthing parent” instead of “mother.”)
Economics
Ask a first grader if he’d do his household chores if he got the same amount of money or even more from just sitting home and playing video games and you’d get the right answer: No. This is something that escapes the brain trust running this administration. It also escapes the ninnies who write for corporate media. The Jobs Report that came out this week was terrible, making widespread expectations by experts and the media the subject of well-deserved ridicule.
A disappointing 266,000 jobs were added in April, well below the 800,000 to 1 million per month needed to dramatically reduce the pandemic’s payroll-employment losses. Indeed, 8.2 million people are still jobless since February 2020 — the outset of the pandemic. Also, a little used, but important, measure of labor market health, the employment-to-population ratio, stands at 57.9% presently — a near 40-year low — compared to 61.1% pre-pandemic, according to the Bureau of Labor Statistics (BLS). This means that millions of workers are sitting idle or are completely disengaged from the labor market.
Did this surprise you? It shouldn’t but it seems to have been unexpected by all these media outlets.
– Axios (5/3/21): “A Jobs report for the ages”
– Reuters (today, before the report was released): “U.S. economy likely created nearly a million jobs in April”
– CNBC (4/29/21): “April jobs expected to top 1 million as consumers boost the economy”
– MarketWatch (5/6/21): “A million new jobs? That’s how many Wall Street thinks the U.S. created in April”
– Barron’s (5/6/21): “Get Ready for a Blockbuster Jobs Report of 1 Million or More”
– New York Times (5/7/21): “Jobs Report Is Expected to Show a Big Gain: Live Updates”
Bonus prediction:
– NYT columnist Paul Krugman (5/6/21): “All indications are that we’re headed for the fastest year of growth since the ‘Morning in America’ boom of 1983-1984. What’s not to like?”
And though not related to the jobs report, this CNN “analysis” piece went live just a couple of hours before the jobs report was released. Not the best timing on this pro-Biden puff piece:
(CNN) As the Republican Party finds new ways to pay homage to Donald Trump and attack democracy, Joe Biden is pushing ahead with the grunt work of building a substantive presidency that could change the shape of America.
With this news, you’d think an administration that wanted to see people getting jobs would rethink its plan of throwing away money to disincentivize work, fuel inflation, and bring back Carter-style stagflation. You’d be wrong. Speaker Nancy Pelosi called for more spending. President Biden said, “I want to put today’s jobs report in perspective.” He claimed this is another step showing “progress” since he took office and proves why we need to print more money and inject it into the economy. The job losses are mainly in the 10 states with Democratic governors who have to hope their constituents are dumb enough to miss the relationship between their policies and their lack of economic gains.
Not completely unrelated to unrestrained money printing and paying people not to work is the rapidly rising cost of energy due to the administration’s war on “fossil fuels.” Biden has set a draconian pledge to cut carbon “pollution” 50-52% compared with 2005 levels. Even if you believe (as I do not) that anthropogenic caused global warming is substantial and deleterious, the goal is senseless. China is not going to cut back on its use of fossil fuels and its carbon pollution surpasses all the developed countries combined. To carry out this pledge, the U.S. would wreck its economy and the hardest hit, as usual, will be the poorest of us unable to afford more costly housing, food, and transportation.
