Trump's new American economy

The Wa ^ | September 17, 2018 | Peter Morici

[2ndDivisionVet]

Now streaming on your handheld devices is America’s New Economy, and it will soon make the messages of both political parties obsolete.

American consumers always spent too much. Thomas Jefferson went bankrupt by living high on credit and ever since, his countrymen have borrowed recklessly — until the next financial crisis compelled retrenchment.

Periods of robust economic expansion have been defined by consumers’ willingness to splurge on big ticket items like cars and homes, and businesses’ appetite for grand new projects — Fulton’s steamboat, canals, railroads, airlines and most recently shale oil and pipelines.

Remarkably the economy is now on track to register annual growth of 3 percent for the first time in a dozen years, but auto and home sales are flat and corporate investments in hard business assets — factories, machines and computers — are hardly rocketing.

What has flipped are the jobs market and productivity.

For the first time since the 1960s, workers, not jobs, are genuinely scarce. They are so hard to find that businesses are jettisoning conditions that many positions requiring specific skills or just innate intelligence be filled by folks with substantial experience and technical school or college diplomas....

[willk]

I was at Disney World Magic Kingdom today. It was a Monday in September and a so called value day as far as ticket prices. The place was packed. 55-75 minute wait on most rides. Damn you President Trump and your economy. LOL

[Rob the Ugly Dude]

This job market is starting to remind me of the 90s internet boom.

Seems insane that anyone would vote against it.