What normally would be considered good news has instead become the Progressive Democratic Socialists of America Apocalyptic News of the Week: June Jobs Numbers Beat Expectations with 213,000 New Payroll Jobs. WE’RE ALL GOING TO DIE!
First, from Nancy Pelosi:
Of course San Fran Nan is an avid adherent of the innovative economic theory of the Amazing Money Velocity of the Unemployment Dollar:
“For every dollar spent on unemployment benefits, the economy grows by, according to one estimate, $1.52; by others, $2. So somewhere in that range, but much more than is spent on it." - Pelosi, December, 2013
So you couldn’t expect her to appreciate people becoming economically self-reliant the old fashioned way. And Democratic Party Chair Tom Perez couldn’t wait to double down on Nancy’s stupid:
“With slow wage growth, rising health care premiums, and skyrocketing gas prices across the country, Donald Trump’s reckless policies are hurting millions of hardworking families…“Trump and Republicans in Congress are trying to build a winner-take-all economy that enriches their wealthy friends and saddles working families with the bill. Democrats want to create good-paying jobs and build an economy that works for everyone.”
I’m so old I remember when rising health care premiums and skyrocketing gas prices were considered a good thing by the Democrats.
Nan and Tom, lacking even a basic understanding of how such basic economic principles such as supply and demand work, can’t be blamed for not realizing that higher demand for labor might result in higher and faster growing wages. However, if we keep our porous borders open to welcome illegal immigrants who will work for the wages Americans won’t, that will not happen – so let’s do that!
Of course if we build a wall and shut down that flow we would even entice some of the millions of working age people currently sitting on their butts (mostly men – am I allowed to note that?) back into the work force.
Labor Participation Rate, 25 –54 Yrs
Strangely, even the labor participation rate is ticking up since Donald Trump started Making America Great Again.
Although I suspect that would be a bad thing too, given it’s Trump; and given the velocity of the welfare dollar and all.
Linked At: Larwyn’s Linx on Doug Ross@Journal, and Free Republic, Thanks!
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