Is Trumponomics Working?

[SLD]

Labor Day Jobs Report Shows Trumpnomics Is Working

The August jobs report delivered a message the Wall Street commentariat keeps missing: Trumpnomics is working, and nowhere is that clearer than in manufacturing. Nonfarm payrolls rose by 162,000

www.realclearmarkets.com

OK. So the above is Pete Navarro’s take on how great Trump is doing economically. Obviously it’s great and only going to get better - especially since we’re finally raising tariffs against all the world and protecting our industries.

Thoughts?

 

[Jimmy Higgins]

Adding about 75k jobs average a month. That doesn't seem great. GDP has been tepid. They inhereted an above tepid economy and made it worse. A pesident hasn't had this much influence on an economy since Nixon tried to Whip It.

 

[Bronzeage]

One sparrow doth not a summer make.

Peter Navarro might be a liar or a fraud, but a careful weighing of the evidence shows is he is a lying fraud. He has publically espoused the idea that the importer pays the tariff for the privilege of selling something to an American. This is a lie. Tariffs are a tax collected from the consumer for the privilege of buying a foreign good. There might be a shred of benefit if the tariffs were actually protective, but this has not been the case. Tariffs are imposed on Trump's whim as a brainless display of power. The latest Canadian tariffs promise to stifle American auto production. US and Canadian factories have created a very efficient interdependent supply system which depends upon free movement both ways across the border.

The jobs report is much like the unemployment statistics. It's a moving target in the past and subject to revision. A wise economist never takes one month's report as a sign of anything. By the time the toner is dry, everything could have reversed. Three months in a row is a hint of a trend, not an economic miracle.

Navarro has to crow about the jobs report because that's the shred of good news for Trumpnomics. He certainly can't brag about inflation or the national debt.

 

[GenesisNemesis]

No one gets to argue for Trump's economy when Trump said he doesn't care about affordability. You can ignore anything they say.

 

[laughing dog]

Labor Day Jobs Report Shows Trumpnomics Is Working

The August jobs report delivered a message the Wall Street commentariat keeps missing: Trumpnomics is working, and nowhere is that clearer than in manufacturing. Nonfarm payrolls rose by 162,000

www.realclearmarkets.com

OK. So the above is Pete Navarro’s take on how great Trump is doing economically. Obviously it’s great and only going to get better - especially since we’re finally raising tariffs against all the world and protecting our industries.

Thoughts?

Peter Navarro is an ideologue who know little about economics. It is interesting that he touts manufacturing gains last month while neglecting the losses since Trump took office the 2nd time. In 2024, it was about 12.8 million, now it is about 12.64 million.

It is well know and well documented that protectionism tends to benefit small groups of producers, their suppliers and employees, while harming a larger group - all users of the protected product. Add in the increase in gasoline stemming from our ongoing victory over Iran, and Trumponomics is pretty much a disappoint (to say the least).

 

[Jimmy Higgins]

Labor Day Jobs Report Shows Trumpnomics Is Working

The August jobs report delivered a message the Wall Street commentariat keeps missing: Trumpnomics is working, and nowhere is that clearer than in manufacturing. Nonfarm payrolls rose by 162,000

www.realclearmarkets.com

OK. So the above is Pete Navarro’s take on how great Trump is doing economically. Obviously it’s great and only going to get better - especially since we’re finally raising tariffs against all the world and protecting our industries.

Thoughts?

Peter Navarro is an ideologue who know little about economics. It is interesting that he touts manufacturing gains last month while neglecting the losses since Trump took office the 2nd time. In 2024, it was about 12.8 million, now it is about 12.64 million.

It is well know and well documented that protectionism tends to benefit small groups of producers, their suppliers and employees, while harming a larger group - all users of the protected product. Add in the increase in gasoline stemming from our ongoing victory over Iran, and Trumponomics is pretty much a disappoint (to say the least).

I think of the US and tariffs on Canada. Greer, idiot with a law degree who majored in undergrad in International Studies, going on about the best deal for Canada, trading wits with Mark Carney former head of national banks of Canada and Britain! It is middle school intermural verses the Pros... and the Trump Admin thinks they are the pros because the US GDP says so.

 

[Colonel Sanders]

When millions of jobs were added under Clinton, "But those are shitty jobs" became the GOP rallying cry. They didn't like unemployment, but they didn't like employment either. I suppose we could play the same game, but Democrats, as much shit as I give them, just don't have that spirit of shameless disingenuousness in them.

As for the economy being great?

Yeah, fuck you. While most memes are just fun or stupid, I read one recently that rang true: "I can't leave the house without spending $300."

Today, my tank is almost empty, so that's going to be $100 or so. I need to go grocery shopping, so that's going to be $150 when it used to be $100. I also need to buy cat food and litter. Thus, I will spend about $300 when I leave the house today.

 

[ZiprHead]

That jobs report is bullshit.

 

[Jimmy Higgins]

That jobs report is bullshit.

Not necessarily. However, it is one jobs report. Job creation during the duration of Trump's second term has been shaky.

What I notice is the press says the number is great, but back when Obama was President, it was a sign of the end times.

 

[TV and credit cards]

When millions of jobs were added under Clinton, "But those are shitty jobs" became the GOP rallying cry. They didn't like unemployment, but they didn't like employment either. I suppose we could play the same game, but Democrats, as much shit as I give them, just don't have that spirit of shameless disingenuousness in them.

As for the economy being great?

Yeah, fuck you. While most memes are just fun or stupid, I read one recently that rang true: "I can't leave the house without spending $300."

Today, my tank is almost empty, so that's going to be $100 or so. I need to go grocery shopping, so that's going to be $150 when it used to be $100. I also need to buy cat food and litter. Thus, I will spend about $300 when I leave the house today.

Navarro can spin data to fit his narrative all he wants. At the end of the day, all that matters is gas and groceries.

Friday we get the CPI report.

And Trump is still squeaking about interest rates but doesn’t have Powell to beat up any longer. It’s his boy in there now.

 

[Elixir]

Trumponomics is working great, make no mistake.
Trump is up over 100% for his term so far, and making more billions by the month.
The problem is trumpsuckers - the ones who elected him and the ones who continue to enable him.

 

[TV and credit cards]

The Consumer Price Index increased 0.4% last month after edging up 0.1% in July, the Labor Department's Bureau of Labor Statistics said on Friday. In the 12 months through August, consumer inflation advanced 3.4% after rising by the same margin in July.

 

[SLD]

The Consumer Price Index increased 0.4% last month after edging up 0.1% in July, the Labor Department's Bureau of Labor Statistics said on Friday. In the 12 months through August, consumer inflation advanced 3.4% after rising by the same margin in July.

With the recent spike in oil prices caused by our glorious victory in Iran the fed will likely raise rates next Thursday, and probably more than the anticipated quarter point.