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Policy and Government

President Trump, in the 2019 Economic Report of the President, observes: “The United States economy has created 5.3 million jobs since I was elected to office. Wage growth continued in 2018, with the lowest-earning workers experiencing the strongest gains. By the fourth quarter of 2018, real disposable personal income per household was up more than $2,200 from the end of 2017. The national unemployment rate reached a nearly 50-year low of 3.7 percent in September 2018, hovering at or below 4 percent for 11 consecutive months— the longest streak in nearly five decades. Opportunity is expanding so fast that there are more job openings in our economy than there are current job seekers.”

James Hohman at the Washington Post notes that “It’s peculiar to watch Democratic candidates warn in apocalyptic terms that Trump is disregarding sacred norms and thereby destroying the republic in one breath while calling for radical steps like packing the Supreme Court, changing the way we pick presidents, ending private health insurance or paying out reparations in the next.

Monetary

At Forbes.com, Heritage Foundation’s Norbert Michel throws deep shade on the myth of the Fed’s independence (and performance).

Tax

Adam Michel of The Daily Signal opposes eliminating the special tax break for hedge fund managers as proposed by legislation sponsored by Sen. Tammy Baldwin, D-Wis., and Rep. Bill Pascrell Jr., R-N.J.

World

The Hustle reports that the dastardly Red Chinese are flooding the world market with caviar, causing a 50% price decline since 2012, hurting US producers and intensifying the US trade deficit by over $10M!  Making caviar affordable to those of us without trust or hedge funds in no way compensates for this injury to our national security and prestige. Robert Lighthizer call your office!

At Forbes.com, Brian Domitrovic says China is scared of something.