Four weird things the left is doing in response to the mighty Trump economy
The economy is roaring as today's non-farm payrolls report shows. June job gains showed a (way) greater-than-expected 224,000 gain. The unemployment rate "nudged" higher to 3.7%, solely because 335,000 discouraged workers are finally reentering the workforce. Fox News' financial expert, Charles Payne, notes that here.
It follows on from Wednesday's news that U.S. stocks hit an all-time high, with the DJIA ending at just under 27,000. Nasdaq and S&P hit all-time highs, too.
And don't forget the record low black, Latino, female, handicapped, and even ex-con unemployment rates. We've never seen anything like this before.
Something awesome is going on.
And for most Americans, that gives us a warm, comfy feeling. Economic security is possible. A boom is possible. Jobs are possible. Choices of jobs are possible. Mom's basement is no longer the fate of the young. A huge new world is out there...
But for the left, it's like standing in a burning frying pan.
We can see it in all sorts of weird responses to this wonder-news in our leftist communities. Here are four ways the left has gone weird, very weird, as President Trump's masterwork, his economy, has taken off:
One, Denial. Democratic presidential candidates at the last debate were last seen yelling about a bad economy plunging most Americans into a depression. "The economy isn't working for everyone" is the Democrat battle cry. Kamala Harris, still hankering after the Alexandria Ocasio-Cortez endorsement over Elizabeth Warren, repeated Ocasio-Cortez's disproven claim that people are now working two jobs to stay afloat, something that was the reality during the Obama years, and likely a possibility only in one-party blue cities. Harris is kind of an expert at sucking up for consideration. As for Warren: "I think of it this way: Who is this economy really working for? It's doing great for a thinner and thinner slice at the top." Tell that to all the people whose Obama-era depleted 401(k)s just got a boost. Or tell that to all the discouraged workers who finally saw enough light at the end of the tunnel to want to reenter the job force.
Two, Ignoring the soar. Charles Payne hits the bullseye here:
We had into the jobs report today with stock market at an all time high. It's so underreported even on business channels (you heard more about Iran than S&P500 this week) mostly because media disdain for current president. Now daily reports will be the market crash guessing game.— Charles V Payne (@cvpayne) July 5, 2019
Media silent, no front-page headlines, little recognition that this is news, focus on speculative reporting about what's going on in distant Iran. The press is ignoring the powerful news, which ought to be on the headlines of every paper and the front story of every news broadcast. A few, yes, but far from all. Why do they do that? Because they don't want to admit that the market has a sound footing - with lower taxes, deregulations, and a political climate friendly to innovation and growth. Since they can't bring that stuff up, they ignore the news.
Three, Henny-pennying. As Payne notes, it won't be long before they're talking about a bubble. Bubbles, of course, occur because of loopholes, investors taking advantage of some vulnerability in the system -- lending mortgages to people who can't pay because of banks seeking to prove they aren't redlining, or central banks printing too much money which can be speculatively knocked downward by speculators through the futures markets. Those are bubbles. What is this rise based on, once again? Lower taxes. Deregulation. A sense that starting a business or developing a new product is no longer going to be a nightmare. Fundamentals, as the word is used. If there's a bubble, you'd want to watch for the cooler heads at Investor's Business Daily, my old paper, to call for an objective reading of such things. I don't see any evidence of it so far. I do see that they called the gains of Wednesday back on July 2.
Four: Sheer raging meanness. The higher the market goes, the higher the broad prosperity goes. Roger L. Simon thinks there actually might be some kind of link in his terrific essay titled "Hate in the Time of Peace and Prosperity."
They're angry at Donald Trump for celebrating Independence Day with the military. They're angry at Betsy Ross for sewing a flag. They're angry at people who drive SUVs even when they fly in private jets themselves. They're angry at the administration for locking migrant children in cages (excuse me, concentration camps) when those cages (excuse me, concentration camps) were built by the previous administration. They're angry at Trump for trying to make peace with North Korea because, well, he's the one who's doing it and not them. (They already failed.) The same is true of the Middle East.
And yet, there's this:
But there is a good side. Things are pretty great. We do have peace, prosperity and, more importantly, freedom (if we could only get rid of Google and Facebook and some government agencies).
In a way, it kind of resembles the 1960s, where the left raged mightily and came up with every kooky lunacy, yet the economic times were generally good. Ugly things didn't rear their head until Jimmy Carter. Simon tries to parse it out by concluding that the left, or the broader category of America's misfits, just can't stand prosperity.
So now we have the picture: A booming economy, with all cylinders on go. A nation where almost everyone can get a job and not just any job, but a job they really want and finally feeled valued as a contributor, not a supplicant. 401(k)s beefing up savings for retirements. Opportunities for startups, galore.
Amazing what can be accomplished with free markets. Perhaps the funniest thing about it is how crazy it makes the left. They just can't take it. It seems to be messing with their DNA.