How are things looking these days?
On Wall Street they look not too bad. That is because stock investors like profits. Not only the profits they make buying and selling stocks. They like to see companies make greater amounts of profit each year. That has been happening lately. And that is why Wall Street has been happy to push up stock prices of those companies.
On the jobs front, things are looking better. Not great, but better. The economy is beginning to create more jobs each month than it managed over the past many months. †Loans to smaller businesses are beginning to thaw. If you asked me to celebrate this I might break out a beer. Not the bubbly, just a beer.
Color the unemployment picture grey. Many millions have lost their jobs of course. Worse, many millions have given up. They have lost their will to look for work. If you count all them when you calculate our unemployment rate, the rate is around 18 percent.
The unemployment rate for young Americans is a lot higher. And for young minority Americans it is dreadful. If the President was a Republican the mainstream media would trumpet this dismal news.
Meanwhile, the length of time the average unemployed person has been out of work is breaking records. Not the sort of records we like to see broken.
Color the inflation picture grey as well. Again, if we had a Republican administration in place big media would headline this every day. Obviously gas and energy prices are up. Lots of food prices are up. Lots of folks who live hand to mouth are finding less in their hands these days.
In Washington we see some camouflage. The President is preparing to make some compromises with the new congress. He has to. His poll numbers are lousy. So he has canned advisors who got him into this mess. He is hiring guys who are more to the right in their thinking.
Meanwhile, it is possible the Republicans are maybe going to put the repeal of Obamacare up for a vote every month or so. In order to get Democrats to vote against it. In order to maybe get it through both houses so the President will veto it. The strategy might be to get lots of Democrats on record supporting Obamacare. Again and again. So their voting records can be used against them in the next campaign.
That might be a smart strategy, since big majorities of voters tell pollsters they absolutely do not like Obamacare. If they donít like Obamacare they are not likely to support representatives who keep voting for it.
From Tom Ö as in Morgan.
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