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Friday, June 02, 2017
Breaking News: The U.S. economy grew by 138,000 jobs in May, clearing the way for the Fed to raise interest rates in two weeks
Pure BS. I listen the the X22 report and Gerald Celente as well as Harry Dent. The economy hasn't improved. In fact it has gotten worse. Retail store closures are a good example of this.
ReplyDeleteIt might have grown is some sectors, but not enough. An interest rate increase of just 1 percent will increase home mortgage payments with adjustable rate mortgages by 10 percent. Most households don't even have an extra 500 dollars to pay an unexpected expense if it happens. They want to bring down the economy and blame Trump. The economy is too weak to allow an interest rate increase. You will see borrowing stop. Car loans and Home loans will definitely be affected.
In WV alone many coal mines have reopened since Donald Trump was elected creating a few thousand good paying jobs there. I know hones are selling like crazy. Not so much here but in other areas. My relative put there's on the market-50's dated rancher on 15 acres- 3 years ago and not one bite. Another relative rented in for awhile and moved out a few months ago. Very few even came to look. They put it on the market again because the realtor a friend of a friend heard the tenant have left and called them to relist. They really didn't want to but the realtor kept on saying about the Trump Bump so they listed for a ridiculously much higher price then before. There was literally one day a back up of people coming to see. It was finally sold very quickly for cash and almost $60,000 more then the already over inflated asking price because of a bidding war so to speak. No inspections anything and less then 2 week settlement since no finance involved. This was in York Co PA.
ReplyDeleteI know some looking for a home in AA co preferable in Severan Park and the realtors are telling them "inventory is lowest it's been in years because noting stays on the market long anymore."
I've also talked to some local OC business owners who are surprised at their rising numbers which had been flat for going on 10 yrs now.
Lastly we eat out a few times a week. Never in over 20 years have the restaurants we frequent been so busy during the week.
About 10,000 of the jobs were created by the Dakota Access Pipeline which started transporting yesterday. That number does not include those who feed off the pipeline like parts fabricators and other businesses who provide a service to them or those who supply supplies. Many in those areas have hired more employees.
ReplyDeleteIncidentally remember all the protests about Indian sacred land? Fake News. The pipeline is NOT on Standing Rock Sioux land nor was there ever a plan for it to be. But of course the low information heard it on the news and like good little puppets ran with it and repeated the nonsense.
The 138,000 are NON farm jobs too. Great news. The best we've had on employment numbers in nearly a decade.
ReplyDeleteBINGO 10:02
ReplyDeleteMost of the job gains occurred in health care and mining. Health care facilities are hiring because they won't be saddled with the burden of obamacare anyone which contrary to what the low information believed had nothing to do with actual healthcare but healthcare coverage. Many treatments that were denied before are expected to be covered again when the President fixed the mess of obamacare. Let's just hope the obstructionists the democrats get on board but they won't. Their family won't die because they have good insurance unlike those stuck with the substandard obamacare.
ReplyDeleteThe full report is interesting. For example, unemployment numbers fell in every category i.e. blacks, white, men, women, teenagers, Asians but rose in the Hispanic/Latino category. With less coming over to work we will start seeing wages rise.
ReplyDeletestill too early (after only 5 months) to tell any impact by the new administration. Holiday season (Oct-Dec) should give us better insight. Then the President's true 1st State of the Union will give us a clearer picture of the next 3 years. Which remember, is paved based on next year being an Election year for the House of Representatives!
ReplyDeleteIts all about politics and the spin, regardless of party!
About a month ago I read somewhere about a dozen people being called back to work if they want after some being laid off for 4 years. I believe it was up near Binghampton NY. They worked in a section of a sewing factory that among other things makes sleeping bags for the military.
ReplyDeleteThe news is encouraging, but any gains made, will be lost if they raise interest rates. I don't think the economy is strong enough to handle this yet.
ReplyDeleteThe government reports are all lies.
ReplyDeleteHave been for a very long time.
Mind control.
2:51 PM I agree. Until they get the healthcare fraud under control, there is no extra money. I was raped of a total of 26K for 2 years of health care. this year I am going without. Pushed me into poverty, with two jobs and still looking for another to compensate for the loss.
ReplyDelete