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Bursting the jobs numbers bubble

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Well, I really don’t want to burst anyone’s bubble. After all, when I get good news, the last thing I want is to see another episode of Adam Ruins Everything and suddenly what I thought was great news is only going to be marginally beneficial … maybe. Before I get started, though, I want one thing to be crystal clear: I am not an economic wizard. As a matter of fact, I don’t want anyone to think I am even slightly good with economics, especially on a national scale. But I don’t think I have to be; common sense should be enough.

Since before President Trump’s inauguration, he has been making deals. What started with Carrier back in late November, 2016, with the “saving of 1000 jobs” as it was reported, jobs numbers have been on a positive move. As an aside, the NYSE and other markets began a steady trend upward on November 9, 2016 that has continued a generally positive movement. Things look good and we are not yet tired of winning. Right? Let’s analyze what over 1 million newly added and filled jobs means.

First, I really hope for the best and for these jobs (and the markets) to continue the positive growth. The recent proposal to immigration in favor of American workers will certainly help growth, both in jobs and the economy. Bringing talented individuals to partake in the American dream is something we all embrace. Innovation and work is good for them, for us, for America and ultimately for the world. First, however, the immigration bill, or RAISE Act, must become an actual piece of legislation; second to be voted on and, third, signed into law. Expect a lot of push-back from the Democratic Liberals on why this legislation is bad: its racist, Islamophobic and “too cosmopolitan” for the globalist elites, are my guesses. I expect 6 months or more before the RAISE Act is actual law and, most likely, part of a larger immigration reform package.

Since January, 2017 the jobs numbers have surged. Not small numbers, massive numbers that, frankly, the Democrats probably find disappointing because they haven’t been able to achieve these growth rates in … well, decades. And President Trump has only been in office for 6 months. Obama’s 1st year in office witnessed the loss of 5 million jobs. In October, 2010, we saw those numbers begin to return with an additional 5 million over his tenure for a total of 10 million. That is roughly 1.67 million jobs per year, from October, 2010 through October, 2016. At this rate, under Trump’s watch, he should be able to easily match if not surpass Obama’s numbers.

The big difference is that Trump didn’t have to make up for lost ground. He started his tenure in office gaining jobs. Now, I’m not discussing whether or not Trump can actually be credited with the gains. Frankly, I don’t care who gets the credit. The problem is that the gains for the American worker, as it stands now, will be minimal. Sure, we feel better when we are working and earning our way, providing for our family and able to make a vacation or two at some point in our lives. But we still have massive issues that are, quite simply, going to erode any good these jobs numbers project.

There are two glaring problems that the Gutless Old Party has yet to accomplish: 1) tax reform, and 2) repeal of Obamacare.

We still need tax reform. If we want corporate America to succeed, they need incentive – taxes and repatriation are two items that must be addressed. For the individual, so what if I have a job. I’m still paying exorbitant taxes. I have been promised tax reform and I want to see it before the 2018 filing season. Oh, and by the way, it would be beneficial to anyone wanting to keep their job on Capitol Hill to make tax reform retroactive to January 1, 2017.

We still have Obamacare. This piece of legislative and regulatory disaster has been most responsible for inhibiting growth in the public and especially the private sectors. Are we still going to have the IRS looking over our shoulders to make sure we have that burden securely fastened to our backs? Am I still going to be fined a penalty if I don’t have Obamacare?

And, finally, what really grinds my gears (thanks, Peter, for that) is that our Republican President says we need an addition $50 billion in this year’s debt ceiling and “we will reduce that to $30 billion next year.” Wait. What? I thought we were trying to limit government spending. Am I going to be able to go to the grocery store and tell them I have opted for an increased debt ceiling? No. And don’t give me this “reduce to $30 billion.” You aren’t reducing anything. You are increasing the debt ceiling by $80 billion over 2 years. And do you think I am naïve enough to believe that it will stop there?

All these jobs are necessary. We have the government’s subsistence to upkeep and that popping sound you heard was the button on the Fed’s fat pants. Yes, once again, our “conservative” Republicans in Congress are just as liberal with our tax dollars as the Democratic Liberals. The difference is who gets to be in control of the purse and spend the money. What is obvious is that two Liberal parties exist. They simply have different ways they want to spend our money.

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Economy

Frontier Flight Attendants vote to authorize strike

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Frontier Flight Attendants vote to authorize strike

Frontier Flight Attendants, represented by the Association of Flight Attendants-CWA (AFA), today voted 99 percent to authorize a strike.

“Frontier Flight Attendants sent a strong message today that we are united in our fight for the contract we have earned,” said Jennifer Sala, AFA Frontier President. “We are ready to do whatever it takes to get the contract we deserve.”

Frontier Flight Attendants have picketed at Frontier-hub airports over the last six months. Frontier Pilots recently announced a tentative agreement, but Flight Attendants still face labor unrest.

Negotiations are overseen by the National Mediation Board and are scheduled to continue at the end of November. Lack of progress could lead to the National Mediation Board (NMB) declaring that negotiations are deadlocked and releasing both parties into a 30-day “cooling off” period leading to a strike deadline. AFA has a trademarked strike strategy known as CHAOS or Create Havoc Around Our System™. With CHAOS, a strike could affect the entire system or a single flight. The union decides when, where and how to strike without notice to management or passengers.

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Economy

The best thing Alexandria Ocasio-Cortez has ever said

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The best thing Alexandria Ocasio-Cortez has ever said

The freshman congressional sensation from New York, Democrat Alexandria Ocasio-Cortez, has made some pretty awful remarks about the economy. She was so proud of answering, “You just pay for it,” when asked how to pay for the $32 trillion price tag on her proposed healthcare plan that she posted it on social media.

For someone with a degree in economics, her ideas seem to be fueled by something other than economic logic. That didn’t stop her from making a short but incredible statement about the economy.

“I don’t think most of Congress understands how economics works.”

I agree. I also think her presence in Congress isn’t going to raise the level of economic understanding any time soon. Welcome to Washington DC, Congresswoman!

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Economy

Keystone XL stopped by judiciary using bureaucracy to promote lunacy

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Keystone XL stopped by judiciary using bureaucracy to promote lunacy

Activist judge Brian Morris in Montana may have just put the final nail in the Keystone XL pipeline project. He suspended construction of the pipeline pending another environmental review. Apparently, he didn’t like the conclusions of the first one he ordered, so he’s asking for a second opinion.

Montana Judge Puts Brakes On Keystone XL

https://oilprice.com/Latest-Energy-News/World-News/Montana-Judge-Puts-Brakes-On-Keystone-XL.htmlThe court has asked the government to review its assessment and revise it, taking into account the changes in the oil markets since 2014, the latest in climate change, and the presence of “cultural resources” along the route of the pipeline that was planned to carry heavy oil from Alberta to U.S. refineries. The 830,000 bpd pipeline will run from the Albertan oil sands through Montana and South Dakota, ending in Nebraska, where it would connect to the existing pipeline network that goes on to the Gulf Coast.

The court’s ruling comes a little more than a month after TransCanada said that construction of the pipeline could begin as soon as next year. The announcement followed an environmental impact review from the U.S. State Department, which concluded the pipeline’s impact on the environment would be “negligible to moderate.”

My Take

Even if the project can exhaust this activist judge’s attempts to stop it, there is growing tension on the Canadian side that is likely to table the deal indefinitely. For all intents and purposes, the Keystone XL pipeline is dead.

This is lunacy. We’re talking about the most modern and safe method of transporting heavy oil from the place it can’t be used to the place it can be used. Instead, we will remain reliant on Middle Eastern oil that comes without the unnecessary baggage snowflakes like Judge Morris impose on North America.

But that’s the mood of the day for the judiciary that continues to side with former President Obama to oppose current President Trump. Their power to maintain demonstrably dangerous policies and subvert progress is one of the main reasons we need judicial reform. These maverick judges can harm the nation at will and in cases such as this, they do.

Canada will be hesitant to cooperate on big projects like Pipeline XL because of our judiciary, and who can blame them? One man swimming in power can harm two nations with the stroke of his gavel. Sadly, he’ll sleep well believing he just saved an oil or two.

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