Friday, May 5, 2017

Economic Sabotage? (Updated)

Forgive me if I am suspicious but I won't be surprised if Obama hold-outs in the Depts of Commerce and Labour do their best to downplay any economic good news over coming weeks and months.

Here's a clue.  The latest set of GDP figures are based on models rather than empirical evidence.

The Department of Commerce will publish its first estimate of US economic growth in the first quarter of 2017 on Friday, and it may show that the economy barely grew at all.
The Atlanta Fed’s widely followed GDPNow tracker, which aggregates model forecasts for several subcomponents of GDP like exports and homebuilding, fell to an all-time low of 0.2% for the first quarter.

Not mentioned anywhere in this report is the fact that US tax refunds which normally feed into firt quarter spending have been delayed until the second quarter.

Funny that.  Sounds a bit like climate science where you feed in selected data to provide the desired answer.

I wonder how they'll manage to fudge the employment figures to hide all those thousands of coal miner and oil workers who are back in jobs.

I'm even more suspicious when I see reports like this:-

US unemployment rate fell to 4.5 percent in March 2017 from 4.7 percent in the previous month, better than market expectations of 4.7 percent. It was the lowest jobless rate since May 2007, as the number of unemployed persons declined by 326,000 to 7.2 million......

Is one meant to believe that when you add 400,000 people to the workforce, there is no increase in GDP?  Even if they all moved off welfare into work there would have to be a substantial difference in gross aggregate income.


David said...

Like all the other trumpanzees, Adolf is thrashing around to find anything good has come from the rise of Donny from Queens.

Where are all the coal mining jobs coming from, Adolf? Trump's rhetoric? Maybe, but there will be few, if any, new jonbs created in coal mining.

The reasons for coal’s long-term job losses are complex, but analysts typically point to three big factors: 1) mining has become increasingly automated, meaning fewer jobs per ton of coal produced; 2) a glut of cheap natural gas from fracking has cut into coal’s market share, leading to a sharp drop in US coal production since 2008; 3) various Obama-era environmental rules have made it more costly to operate coal plants, which has pushed many utilities to switch to natural gas or renewables.

The Cheeto in Chief has pinky promised to allow mining companies to resume polluting waterways. Maximum number of new jobs this will create in coal mining? 147.

Adolf Fiinkensein said...

David the only person thrashing around here is you.

Trumpy is running rings around you and all your pathetic mates of the pathetic 'Resistance.'

What a sad joke they are.

Anonymous said...

Your Trumpy, the big-mouthed blow-hard, will shoot himself in the foot very soon. Can't help it he's such a drongo. The only worth-while action he's taken in his 100 days is to squash that vile PPTA.

George said...

The left have lost it.
Not only all connection with the US people but the importance of fact and evidence.
All they can do is riot and vandalise their own property.
And meanwhile the world goes on