Sanders and Trump have a commonality. They are different. Different from each other but significantly they are different from professional politicians. People want a change. I think people are fed up with government for and by the lobbyist. And beyond that fed up with the ultra conservative policy of President Bill Clinton starving people off welfare and giving the savings to Wall Street. A case can be made for blaming Clinton for 2008. It might not be that the general citizen is wise to the ways of a bought government but people know something is wrong.
First is my questioning of things that don't make sense. Why is the term politically correct applied to almost everything under the sun except politics. Because people would find it to hard to say "etiquettely correct". That out of the way so why is Trump immune to negative fallings of popularity when he says apparently offensive remarks. Because he comes across as real and people think that is how real people talk. It doesn't mean he is a bad person he just says what is on his mind like he is talking to or about a real person of equal value. Look at the "F" bomb on TV.
The BLS Productivity & Costs report for Q2 2015 shows labor productivity increased 1.3% annualized. Output increased 2.8% and hours worked increased 1.5%. Unit Labor costs increased only 0.5% in Q2 2015. The reason labor productivity rose was because economic output grew more than worker hours. Both Q4 2014 and Q1 2015 showed decreases in labor productivity.
For sure robots create new jobs. Do they create more jobs? They have removed from the economy the spendable income that a human worker would have made. An income that would have been spent on goods and services. More people are earning less. Blame robots? Blame the system? Solutions anectdotally follow disasters.
Taxes aren't a form of punishment. Taxes are a source of funding to operate our country. Hire a robot and quit paying taxes. Who benefits from all the money diverted from the economy by the auto worker robots. The lost income of the robot displaced human auto workers is crippling. It cripples families, cities, our country and SSI. Life, liberty and the pursuit of happiness are being automated out of existence. Robots should be taxed just like the worker they replaced would have been.taxed except robot income should be taxed 100%.
Our trade deficit increased by 7.1% in June as the value of our exports fell and the value of our imports rose. The Census report on our international trade in goods and services for June indicated that our seasonally adjusted goods and services trade deficit rose by $2.9 billion to $43.8 billion in June from a May deficit which was revised from $41.9 billion to $40.9 billion.
Other than the employment report and the GDP report itself, the monthly report on Personal Income and Outlays from theBureau of Economic Analysis is the most important economic release we see monthly, as it gives us the monthly data on our personal consumption expenditures (PCE), which accounts for more than 2/3rds of GDP, our personal income and disposable personal income data, our savings and savings rate,
The July employment report shows almost the same results as last month. The unemployment rate remained the same, 5.3%. The labor participation rate also did not change from the 62.6% low. More people dropped out of the labor force than became employed. While 144,000 dropped out of the labor force, only 101 thousand more became employed.
The July 2015 ISM Non-manufacturing report shows a services sector growth blowout. The overall index increased by +4.3 percentage points, to 50.3%, a record high. The NMI is also referred to as the services index. New orders increased by 3.4 percentage points. Employment also had a blowout with a 6.9 percentage point increase.
For the second quarter GDP bounced back to 2.3%. The BEA revised the national accounts back three years and now Q1 GDP is 0.6% instead of the -0.2% previously reported. The revisions may have improved Q1 2015 Gross Domestic Product, but on average, lowered GDP for the last three years by 0.3 percentage points. From 2011 to 2014 real GDP was 2.0% instead of the previous average of 2.3%. That's quite a stunt in economic growth overall.
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