People Like Jim Cramer Are Why The American Dream Is Dead For Everyday People
"Larry Kudlow, phoner!!", Jim Cramer exclaimed, on Friday morning, misspelling "phony".
We jest. Jim was excited. A little more than an hour previous, the November jobs report blew away estimates and his old friend-turned economic propaganda minister was about to bombard CNBC's audience with the traditional post-NFP, raspy-throated advertisement for Trump's brand of supply-side gimmickry.
Trump quote-tweeted Jim around 15 minutes later:
https://twitter.com/realDonaldTrump/status/1202966294921
Reagonomics, Bushonomics, Trumponomics — all straight out of the same voodoo economics playbook.
Unfortunately the “cheerleader” economist is a widespread issue and encompasses even a large portion of academia. There is just too much incentive to warp perspective to tilt all the balls into one pocket. Everyone trying to jockeying into position to please the wealthy and be granted a duchy, earldom or at least a barony lest they be rendered or remain serfs. It’s feudalism and the paradigm shift is almost complete.
The last paragraph is the most powerful voice that you’ve summarized yourself. Bravo!
well, it’s a tacit acknowledgement that I, myself, am somewhat hypocritical when it comes to this discussion. i benefit from the tax cuts and from rising financial asset prices, although certainly not as much as Jim Cramer, let alone someone like Leon Cooperman.
but i don’t delude people i come into contact with (and i certainly don’t lie to my readers) when it comes to what’s actually going on in the world.
and, unlike some other sites and networks, i’m not a snake oil salesman. i tell you what i believe to be the unvarnished truth and i’ve never pushed anything on anybody (be it an idea, a narrative, a set of numbers or something tangible) that they didn’t ask for, or know what they were getting. that’s a crucial distinction. a lot of alternative websites (and even mainstream portals) push agendas on readers without making it obvious what that agenda is. that, in my opinion, is the worst kind of lie.
and that is why you have me as a reader. Carry on !
So Sharon finally got you to buy SPY, good for you.
I just wonder what type of jobs suddenly become available a month before the holiday season.
Well said and thanks for this Walt.
Not saying this is happening, but at what point can numbers like these be doctored like the USSRs potato crop harvest ‘reports’? If they were lying, how easy would it be to detect? The POTUS is a liar after all and I can’t put lying on data beyond him…
And recall, Sec of Labor Acosta gave Epstein a sweetheart deal after getting caught sex trafficking minors. Real piece of work…
last august the job numbers were adjusted down 501,000. wonder what the adjustment will be next time?
https://www.marketwatch.com/story/us-created-500000-fewer-jobs-since-2018-than-previously-reported-new-figures-show-2019-08-21#:~:targetText=The%20current%20revision%20reflects%20a,be%20released%20in%20February%202020.
oh, i think it is entirely possible that this administration would alter the data. i just don’t think we’re at a point where that’s “necessary” yet. but it wouldn’t exactly be conspiratorial to suggest Trump would do that. after all, he has a history of making things up, and inflating (or deflating) numbers as he sees fit.
Lol, after the doctored hurricane picture, i doubt Trump has the mental faculties to pull off fudging up a jobs report
Is there anywhere that captures the breakdown of employment in the digital world vs non-digital manufacturing and non-digital services.
Capitalism works very well for the accumulation of wealth by the few. Most (practically all) the levers of control in capitalism are managed by the wealthy and therefore perpetuate more and more imbalance. The more unequal the distribution of wealth, the farther away the masses are from control. Historically this leads to revolution, but can that option be successful today given the sophistication and power of modern weapons of control. Countries like China look to be taking mass control to a new level via digital technology. I’m hoping someone can show me a peaceful solution to what to me seems intractable and pointing directly to Huxley’s Brave New World.
I do not see many peaceful solutions but there could well be ways it ends without revolution. I fully expect the democratization of genetic power to end in tears. CRISPR can be done in your garage on a small budget and with the right seed material… well I don’t worry much about nukes anymore. A handful of people with nefarious intent could easily break the global order and economy. What happens then and how resilient is civilization? I do not know.
Corp tax rates should be zero while dividend income and cap gains should be taxed at the individual marginal rate.
Corp profits flattish y/y. NIPA probably down in 2019 vs 2018. Not exactly Great stuff……………. Ask active investment professionals and many are in a recession or a depression. I know too many investment professionals that are under or unemployed.