|Unleash Prosperity Hotline
|1) The Fake Media Is Alive and Well
There is no question that the new wave of the virus combined with masochistic blue state business lockdowns has slowed the economic recovery.
But judging from the media’s collective primal scream this weekend, you would think the American economy were lying flat on its back in the ICU.
Reality check: Friday’s jobs report showed 344,000 private-sector jobs added. In the entire eight years that Obama was president, do you know how many months we had 340,000 new jobs? One out of 96.
What has the media in cardiac arrest is that government employment fell by 100,000. Hello? That’s a GOOD thing. Every dollar not spent on the public sector is a dollar freed up for the private sector.
This supposedly “hobbled Trump economy,” as CNN calls it, now has 149.7 million Americans employed. At the start of the year, there were 159.8 million people working. That means that we have reached 94.5% of peak employment, which was at the start of the year. If we could fill just half the 6 million open jobs, unemployment would be close to 5% which is near full employment.
Listen to this amazing fact from our supply-side friend and brilliant financial analyst Robert Genetski: “The monthly peak in total wages and salaries occurred in Feb. at $9,659 billion. October totals for all wages and salaries were at $9,576.9 billion. That’s 99% of the February peak.” Nearly every stock index has hit record highs with the Dow at 30,000. Yet, we are told the economy is mortally wounded.
The fake media is trashing the economy for two reasons. One, they despise Trump and can’t believe that he has given us the swiftest recovery in American history. Second, the media is all in on Queen Nancy Pelosi’s gambit of passing a $1 trillion blue state bailout. Taxpayer handouts to the airline industry, mayors, governors, teacher unions, and for Americans who are NOT working will hurt Trump’s amazing economic recovery, not help it.
Could that be the point?
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