REPORT: U.S. Posts A Positive Number It Hasn't Seen In Almost 50 Years, Trump Scores Huge.
Although the left and their cronies have spent the last year and a half attacking and throwing
temper tantrums as they have tried to overthrow a sitting president, there is no way for them
to hide the stone cold facts of what the Trump presidency has meant to our nation and its
people.
President Trump in a year and a half into his presidency was able to do what no other
president has been able to do since, 1969 when the Republican Richard Nixon was president.
In new numbers released on Friday, we can now confirm what isn't hard to notice if
you take the time away from "resisting" in order to see what's actually right in
front of you.
President Trump has given us the best economic numbers most of us have seen in our entire
lifetime.
The jobless rate is now officially the lowest since 1969.
In fact, In a separate report released on Thursday, the Labor Department has now said
initial claims for state unemployment benefits have dropped 24,000 to a seasonally adjusted
209,000 for the week ended April 21.
That's the lowest number seen since December 1969.
More on these numbers via Yahoo Finance:
The number of Americans filing for unemployment benefits fell to the lowest level in more
than 48 years last week, and the goods trade deficit narrowed sharply in March amid strong
export growth.
"The U.S. economy is still moving higher," said Chris Rupkey, chief economist at MUFG
in New York.
"The pullback in goods orders from companies is not a red flag for the economic outlook
yet even if the caution light should be left on."
The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely
watched proxy for business spending plans, slipped 0.1 percent last month.
Data for February was revised to show these so-called core capital goods increasing 0.9
percent instead of the previously reported 1.4 percent jump.
Economists polled by Reuters had forecast core capital goods orders rising 0.5 percent
last month.
Core capital goods orders increased 6.5 percent on a year-on-year basis.
Last month, orders for machinery fell 1.7 percent, the biggest decline since April 2016,
after a gain of 0.3 percent in February.
There were, however, increases in orders of primary metals, computers and electronic products,
fabricated metals and electrical equipment, appliances and components.
Overall orders for durable goods, items ranging from toasters to aircraft that are meant to
last three years or more, increased 2.6 percent in March as demand for transportation equipment
rose 7.6 percent.
That followed a 3.5 percent surge in durable goods orders in February.
Shipments of core capital goods declined 0.7 percent last month after a downwardly revised
1.0 percent increase in February.
Core capital goods shipments are used to calculate equipment spending in the government's gross
domestic product measurement.
They were previously reported to have vaulted 1.4 percent in February.
Business spending on equipment likely cooled in the first quarter, after double-digit growth
in the second half of 2017.
The moderation in equipment investment is expected to have combined with a sharp slowdown
in consumer spending to restrain economic growth in the first quarter.
U.S. Treasury yields held at lower levels after the data.
The dollar rose against a basket of currencies.
Stocks on Wall Street were trading higher as strong earnings from Facebook and a handful
of chipmakers powered technology shares.
According to a Reuters survey of economists, GDP growth likely slowed to a 2.0 percent
annualized rate in the first three months of the year.
The economy grew at a 2.9 percent pace in the fourth quarter.
The government will publish its advance estimate of first-quarter GDP on Friday.
FISCAL STIMULUS
The anticipated slowdown in economic growth is likely to be temporary against the backdrop
of a robust labor market that is expected to underpin consumer spending.
The economy is also expected to get a boost from the Trump administration's $1.5 trillion
income tax cut package, as well as increased government spending, which should also support
business investment.
"We still expect investment growth to pick up over the rest of the year, as tax cuts
boost domestic demand and capacity constrains bite," said Michael Pearce, a senior U.S.
economist at Capital Economics in New York.
In a separate report on Thursday, the Labor Department said initial claims for state unemployment
benefits dropped 24,000 to a seasonally adjusted 209,000, for the week ended April 21, the
lowest level since December 1969.
Economists polled by Reuters had forecast claims falling to 230,000 in the latest week.
The labor market is considered to be near or at full employment.
The unemployment rate is at a 17-year low of 4.1 percent, not far from the Federal Reserve's
forecast of 3.8 percent by the end of this year.
"The tight labor market keeps getting tighter," said John Ryding, chief economist at RDQ Economics
in New York.
"Companies are extremely reluctant to release labor, presumably because of the difficulty
in replacing workers."
A third report from the Commerce Department showed the goods trade deficit fell 10.3 percent
to $68.0 billion in March.
Exports rose $3.4 billion to $140.1 billion last month, reflecting a strengthening global
economy and weak U.S. dollar.
Imports fell $4.4 billion to $208.1 billion in March.
The department also reported that wholesale inventories rose 0.5 percent last month.
Retail inventories, however, fell 0.4 percent.
The goods trade deficit and inventory data had a marginal impact on first-quarter GDP
estimates."
Let us not forget how former President Barack Hussein Obama once told us, that the jobs
lost were never going to make their way back from oblivion.
I guess it was never the jobs that were never going to come back but instead the conditions
presidents, such as Obama put on our economy that made it so jobs were non-existent.
When all you do is tax and regulate businesses to oblivion that's what happens, they stop
creating jobs, pack up and move to a more business-friendly environment.
Not unlike what's now happening to the state of California, where the only businesses and
people who care to live there are somehow connected to either silicon valley or Hollywood.
Who would have thought it would take a brash outsider to bring America back, especially
after both sides of the political aisle told us we had to learn to live with the fact that
the United States isn't what it once was.
Must be easy to come to terms with that when you get elected to a position which pays 150
thousands dollars, a year and 10 years later you end up being worth over 10 million dollars.
What do you think about this?
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