Trump Econ Cranks Continue Unbroken Streak Of Getting Every Single Bloody Thing Wrong, Jobs Number Edition!
We've heard a lot about the "Great Resignation" lately, with workers quitting their jobs in droves because they're either sick of this shit and not going to take it anymore, or they're spoiled whiners. It all just depends on which side of the asshole divide you sit. And while Your Wonkette is not a labor economist, we might humbly submit a possible third explanation for the phenomenon. To wit: Having lived through four years of the most pathetically incompetent people running the country, imposter syndrome is dead.
If Jared Kushner can fuck up literally every thing and still go on to get $2 billion from the Saudi sovereign wealth fund, we are all more than qualified for our jobs. And if Sarah Huckabee Sanders can lie her way to the governor's mansion, then you will be fine if you cash out your sick days and head for greener pastures.
There is no better avatar for this than these two idiots.
\u201cThis is from Fox Business yesterday: Former Trump economic advisers Larry Kudlow and Kevin Hassett dismissed Wall Street expectations of a 250K jobs report for July, insisting in this recession it would be \u201ccloser to 100 \u2026\u00a0way on the downside.\u201d\n\nNumbers just came out: 528K.\u201d— Eric Kleefeld (@Eric Kleefeld) 1659703860
Respect the commitment to the bit! These guys have never one time been right about anything, and look how proud they are of themselves!
Larry Kudlow, whose maniacal devotion to trickle down economics brooks no intrusion by objective reality, served as director of the National Economic Council for the second half of the Trump administration.
"The tax cut has paid for itself already barely through the first calendar year," he crowed in 2018 of Trump's disastrous wealth redistribution boondoggle, even as federal revenues wilted and the deficit ballooned. Kudlow had been practicing being wrong about every single goddamn thing for decades in the private sector, touting the salutary economic effects of the second Gulf War and pooh-poohing the idea of a housing bubble. So he was well-prepared in February of 2020 to reassure the country that COVID was under control: "We have contained this, I won't say airtight but pretty close to airtight."
Naturally Kudlow stumbled out of the White House into the Fox News studio for a weekday gig commenting on the economy. And who better to chat with than Kevin Hassett? Hassett, who chaired Trump's Council of Economic Advisors, was routinely dispatched to peddle the most insane horseshit due to his uncanny ability to do it while grinning like a man who just won the lottery.
"Our human capital stock is ready to get back to work, and so that there are lots of reasons to believe that we can get going way faster than we have in previous crises," he enthused in May of 2020, when the unemployment rate was at 13.2 percent. Two weeks earlier, he predicted that COVID deaths would be "dropping precipitously in May — and essentially going to zero by May 15," topping his previous career high of releasing a book called Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market in 1999, about ten minutes before the dotcom bubble burst and the market crashed.
What we are saying here is that if your entire investment strategy was to bet against everything these doofuses said, you'd probably beat the market! And so it's not exactly surprising that they got it wrong about morning's terrific jobs numbers.
"The consensus on Wall Street is 250,00 non-farm payroll jobs tomorrow, you have a quick thought?" Kudlow asked his guest yesterday, as if there was any doubt that Hassett was going to declare that President Joe Biden's jobs boom was nothing of the kind.
Speaking from CPAC, where all the serious economists hang out, Hassett gestured toward unemployment claims, predicting "a number closer to 100[,000]."
"I think that it's going to surprise way on the downside."
In the event, the number was 528,000 new jobs in July. But no matter, because with these jackasses, the prescription would have been the same for 10 jobs or 10 million.
"So it's a terrific idea to raise taxes in a recession. That's just common sense, right?" snarked Kudlow, because making corporations pay taxes is THEFT.
In fact you do nothave to respect the hustle, and you sure as hell don't have to respect the hustlers.
In summary and in conclusion, don't take shit! And if these gasbags can make it, so can you.
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Liz Dye lives in Baltimore with her wonderful husband and a houseful of teenagers. When she isn't being mad about a thing on the internet, she's hiding in plain sight in the carpool line. She's the one wearing yoga pants glaring at her phone.