Never Underestimate the Resilience of the US Economy

It was an interesting week for the political class.  Bob Woodward’s book about Trump came out.  The New York Times published an “anonymous” op-ed from a Trump administration employee.  The Senate acted like petulant children in hearings for a new Supreme Court justice.  Bernie Sanders introduced the BEZOS act (Stop Bad Employers By Zeroing Out Subsidies), targeting large employers who do not pay “fair” wages.  Potential trade wars with Canada and China continue to be in the news.  I’m sure I missed a few of the circus acts that we, the citizens of this great country, finance.  Links to some of them are below.

Despite all that is going on in Washington D.C., the Labor Department announced the unemployment rate is at 3.9%.  Private employers added new jobs a record 95th straight month.  Wage growth accelerated by the fastest pace since 2009.  By all accounts, the US economy is performing well.  The US remains the world’s economic engine.   Reductions in regulations and reductions in tax rates are having a positive impact on the economy.  To paraphrase Winston Churchill, capitalism isn’t perfect, but it’s the best thing we’ve got.

We will certainly have an end to this economic cycle and it will probably be caused by the uncertainty that our government creates.  To anyone that thinks more government is the answer to economic cycles, please look at the data.

The Sideshow:

Our president attempts to say anonymous https://www.huffingtonpost.com/entry/donald-trump-anonymous-mispronounce_us_5b91ddd2e4b0cf7b003e25d7 )

Stop Bad Employers By Zeroing Out Subsidies:

“Bernie Sanders introduces the BEZOS Act, slamming Amazon’s low wages”

https://www.cnbc.com/2018/09/05/bernie-sanders-introduces-the-bezos-act-slamming-amazon-low-wages.html

“I am Part of the Resistance Inside the Trump Administration”

https://www.nytimes.com/2018/09/05/opinion/trump-white-house-anonymous-resistance.html?action=click&module=Opinion&pgtype=Homepage

“Bob Woodward’s new book reveals a ‘nervous breakdown’ of Trump’s presidency”

https://www.washingtonpost.com/politics/bob-woodwards-new-book-reveals-a-nervous-breakdown-of-trumps-presidency/2018/09/04/b27a389e-ac60-11e8-a8d7-0f63ab8b1370_story.html?utm_term=.22e0788a8fce

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