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How a Strong Job Market Has
Proved the Experts Wrong

Original Article

Posted By: Pluperfect, 12/7/2019 4:30:26 AM

There are a lot of good things to say, and few bad things to say, about the November employment numbers that were published Friday morning. Employers added 266,000 jobs, a blockbuster number even after accounting for the one-time boost of about 41,000 striking General Motors workers who returned to the job. Revisions to previous months’ job counts were positive. The unemployment rate fell to 3.5 percent, matching its lowest level since 1969. Other numbers were less evocative of a boom time. The share of the adult population in the labor force ticked down, and average hourly earnings continued growing at only a moderate pace, up 3.1

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Reply 1 - Posted by: Bur Oak 12/7/2019 7:42:07 AM (No. 255324)
I noticed that the NYT's Nobel prize winning economist Paul Krugman didn't write this.
17 people like this.

Reply 2 - Posted by: MOBeef4u 12/7/2019 7:52:31 AM (No. 255336)
The most important lesson, one that extends well beyond the economic realm, is that most "experts" aren't that expert at all. They are arrogant guessers, estimators and lousy prognosticators who often benefit from the self-fulfilling prophesies that result from credulous individuals acting on this so-called expertise. It takes someone like our current president, among others, to cry "balderdash" and actually produce the results that the "experts" said couldn't happen. You only have to remember Paul Krugman's dire prediction on election night 2016 (that the stock market would "never" recover from its 800 point loss) to know how bad a track record most "experts" have.
14 people like this.

Reply 3 - Posted by: Krause 12/7/2019 7:52:42 AM (No. 255337)
What does it say about the democrats and the left in general that they pretty much hate the good news about the jobs report, and the very good economy in general. The democrats don't like what is good news for the American people. The democrats do like what is good news for the democrat party, though.
7 people like this.

Reply 4 - Posted by: grayjay 12/7/2019 8:09:52 AM (No. 255351)
Not surprised that the NYT article never used the forbidden word "Trump." I guess all this happened without any success by the President.
11 people like this.

Reply 5 - Posted by: stablemoney 12/7/2019 10:09:16 AM (No. 255477)
A peeve of mine. "There are a lot of good things to say, and few bad things to say". We have the most outstanding performance of our economy in history and the NYTs cannot avoid a negative barb about the possibility of bad things. Darn it. Can't the left enjoy even a day of celebration without tarnish?
4 people like this.

Reply 6 - Posted by: DVC 12/7/2019 10:48:09 AM (No. 255532)
The lowest unemployment since I graduated HS, and we had our 50th reunion this year. Trump has beaten ALL the other economies in the last half a century. THAT is important. And yet they hate him all the more because he is for We, the People, and not the globalists.
7 people like this.

Reply 7 - Posted by: Strike3 12/7/2019 11:00:23 AM (No. 255553)
Not once is Donald Trump mentioned, the actual architect of the boom. Obama and his band of incompetent flying monkeys were ready to throw America on the trash heap until a real expert came along. Also not mentioned was the income tax cut, which gave people more spending money instead of the greedy government.
3 people like this.

Reply 8 - Posted by: BeatleJeff 12/7/2019 11:12:34 AM (No. 255569)
What it proves (once again) is that the so-called experts really are no experts.
3 people like this.

Reply 9 - Posted by: DVC 12/7/2019 11:53:58 AM (No. 255647)
Krugman, wrong again. And again. And again. And .....forever.
3 people like this.

Reply 10 - Posted by: NYbob 12/7/2019 3:20:15 PM (No. 255781)
I think Mark Twain said an expert is anyone 30 miles from home with a briefcase. President Trump was only able to do this because he somehow got a 'magic wand,' that eluded the fraud BO for eight miserable years.
1 person likes this.

Reply 11 - Posted by: jeffkinnh 12/7/2019 4:50:33 PM (No. 255816)
"the old view of its potential was an extremely costly mistake" The "view" pushed as a "new normal" by BO and his minions and his propaganda media, including the Times. Now, of course, the Times is saying "The experts made us say it!" "There are clear signs that Fed leaders are starting to internalize these lessons, and are now more open-minded to letting the economy run" THE WAY TRUMP WANTS IT TO. "there’s a lot we don’t know about just what is possible and how strong the United States economy can get." But Trump knew. The path to wisdom is said to start when you admit you don't know. This will be really tough for liberals. As Reagan said, “It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.”. They were given a lesson with Reagan's success in turning Carter's malaise around. Instead of learning from it, they hated Reagan for his success. Now Trump has done it again, YUGELY. Have liberals learned anything? What they seemed to have learned is to hate people who are right and successful with an obsessive passion. They don't care about what they don't know and will NEVER admit they are wrong. They are doubling down on Socialism and resurrecting all their failed policies. It's easy to slip out from responsibility by blaming it on experts who erred. But other experts had different advice based on things that have actually worked when they have been tried. The funny thing is, BO constrained the economy for 8 years with his idiocy of "fairness" and government nanny management. It was ready to burst free given a reasonable incentive. That incentive was Trump's election, his hands off of business policies, and his favorable energy and tax policies which have provided almost unlimited "fuel" for it all. All these things were available to BO but he ABSOLUTELY REFUSED to consider ANY of it. Now, the depths of BO's failures are magnifying and boosting Trump's success. Now, the economy is far more "fair" than BO or any dem has EVER delivered or dreamed it could be. The dems passed out miserly welfare and government servitude. Trump has passed out good jobs, growing paychecks, and independence. No wonder dems are trying so desperately to impeach him. He has provided a vision of a path that would lead to the end of the dem party because the "purposes" they stand for would be unneeded.
1 person likes this.

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