Chairman Larry Kudlow Discusses August Jobs and Labor Report…

White House Economic Council Chairman Larry Kudlow discusses the August jobs report and the latest on China trade negotiations. Main Street USA is thriving, and the U.S. economy is very strong.

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This entry was posted in Big Government, Big Stupid Government, China, Donald Trump, Economy, media bias, President Trump, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

35 Responses to Chairman Larry Kudlow Discusses August Jobs and Labor Report…

  1. Pedro Morales says:

    But but but Russia??? Impeachment??? Recession??? Golfing??? Sharpie???

    Liked by 6 people

  2. ristvan says:

    Kudlow is right about his back of the envelope estimate. In percentage terms, employment growth plus productivity growth approximates GDP growth. It has to almost by definition because labor plus labor productivity is what produces domestic product. The confounding intermediate factors like hours worked per labor job don’t vary very much.
    So yup, 3%GDP growth is in the cards and all the looming recession talk is just more fake news.

    Liked by 16 people

    • ristvan, economics another part of your expertise? Always look foreword to your legal and Constitutional expertises. Now we can look forward to your economic expertise.

      Thanks much and always look forward to your posts.

      Liked by 4 people

      • Art of the War: Ristvan is good. I’m lucky I made it through high school and if it wasn’t for grand kids, I’d have an awful time with the computer. Ristvan explains all in down-to-earth common sense terms.

        Liked by 3 people

      • ristvan says:

        AoW, Summa cum laude in economics from Harvard, and had thesis accepted for PhD. Had fulfilled all Harvard econ PhD requirements except history of economics exam, and a semester teaching, while an undergrad. Decided on HLS/HBS joint program instead—a more profitable career. Overlapped 3 of 4 years there with Mittens.

        Liked by 13 people

        • PageMarker says:

          Some impressive credentials there, ristvan. I was studying economics in Ann Arbor in the late 70’s and in one upper level class dealing with the issue of stagflation one student asked the late Ned Gramlich, ‘well, what is the solution?’ Ned’s response, ‘there isn’t one, at least not that we currently know.’ The class was stunned. ‘That’s why they call it the dismal science,’ he concluded.

          Liked by 1 person

          • SwampRatTerrier says:

            I’m sure you figured out since that there definitely was a solution.

            President Reagan applied the cure, and even more so President Trump is doing so now.

            In a nutshell it’s “GET THE GOVERNMENT THE HELL OUT OF MY BUSINESS!”

            Excuse my Democrat Party Farsi.

            Liked by 2 people

          • ristvan says:

            PageMarker, I learned long ago that academic credentials may open doors early in life, but after that it is all track record. Had some incredibly credentialed folks go bust on me in my first career. No common sense.
            Put differently, 3 Harvard degrees and $4 will get you a Starbucks coffee.

            BTW, my PhD brother and his lawyer wife met as undergrads in Ann Arbor.

            Liked by 2 people

            • PageMarker says:

              Swam Rat, I’m not sure what I’ve figured out except we’re in a mess…))

              The only real solution is Isaiah’s 45 deliverance as The Lord’s David.

              ristvan, You’ve got an IQ and wit to match, you’re home brewed.
              Ann Arbor holds many memories for me, and the one who got away…

              Liked by 1 person

        • Congrats ristvan. Your knowledge and analysis in all fields is well received and respected. Thanks.

          Liked by 1 person

          • ristvan says:

            AoW, my lack of knowledge in many fields is why I am very judicious in my comments. More lurking than commenting.

            There are many Treepers who know way more than I in way more subject areas.
            Just happens that Sundance stuff, PDJT stuff, and my stuff intersect often. My stuff is pretty much international business and trade, the law (esp conlaw, a passionate ‘professional’ hobby), and climate change/energy. Or anything related to hunting, fishing, sailing, skiing, or motorcycling.

            Liked by 1 person

            • Many treepers, myself included, appreciate the way you take the alleged complicated and break it down into an easy to understand explanation. The best mentor I had was able to take a “complicated” problem and break it down into smaller easily understandable parts.

              SD has this great ability also.

              Liked by 2 people

        • US says:

          Verbum sapientæ. Wise words, Ristvan. Keep up you good work here.

          Liked by 1 person

  3. MicD says:

    Sundance, those images are always a hoot !
    And Kudlow is always well prepared to talk shop, makes me smile.

    Liked by 6 people

  4. ozymandiasssss says:

    I watched Kudlow on Bloomberg and he got outright incensed at Bill Dudley

    Liked by 2 people

  5. SharkDiver says:

    GREAT interview by SV…Asked great questions and then just let Kudles talk and expand without interruption. A+

    Liked by 6 people

  6. LafnH20 says:

    https://www.marketwatch.com/story/manufacturing-employment-in-the-us-is-at-the-same-level-of-69-years-ago-2019-01-04

    FTA ((Emphasis mine))

    ‘Bernard Baumohl, chief global economist for The Economic Outlook Group in Princeton, N.J., said two major things are happening — one, ((companies are opting to hire workers rather than increase capital expenditure)), and two, the White House is actively trying to disrupt global supply chains.’

    On the “Cambria CEO” post last night, in the clip, Maria mentioned, “The CAPEX is down. The Ecomony” is slowing.”

    I believe using (not saying that was Maria’s intent) the Down CAPEX (a pull back of business capital expenditures) as a way to “Suggest” the Ecomony is Slowing ignores many other reasons that CAPEX may have declined.

    It’s been so long since “Adding” any meaningful amount of employees was even necessary; much less more important than adding more “Stuff” and trying to twist the numbers to make the new “Stuff” produce revenue.

    From the looks of the numbers coming out, it doesn’t appear the “Main Street Ecomony” is slowing. Perhaps, the above link helps explain why CAPEX may be “down”; not because of a “Slowing economy” and a related pull back from future expansion (oh no’s), but rather, an Investment in Employees (PEOPLE) vs. more “Stuff”.

    Perhaps, some companies have figured out, rightly so, imho, the “Main Street Economy” is NOT Slowing, but conversely, “On Fire”. Maybe, after “Increasing their CAPEX” to a reasonable level (all things considered… to date), the addition of “More Employees vs More Stuff” may be the smart play going forward, imho. More employees to take advantage of the Rising Economy (Market share), therefore maximizing profit “WITH Current Infrastructure”, could lead to “Increased VALUE” for Shareholders without having to… reinvent the “Wheel”… you might say… And placing unnecessary “Risk” on the shoulders of the shareholders.

    Jmo

    Liked by 7 people

    • Sharpshorts says:

      I like your ideas about CAPEX – reminds me of when people used to recognize that part of Henry Ford’s success came about because he paid a solid wage so that his employees could afford to buy the product they made.

      Liked by 4 people

    • LafnH20 says:

      I hadn’t looked at it from that angle, Sharpshorts…
      Indeed… Indeed!!

      Add in the multiplier of each employee spreading their $$ around town; giving others $$ to spread around town; and those others, in turn, doing the same.

      A rising tide will lift all boats….

      …..The macro-economic theory that improvements in the general economy will benefit all participants in that economy.

      Win – Win – Win…

      Liked by 5 people

  7. GB Bari says:

    Underlying all the naysayers’ declarations of “slowing economy” and forecasts of “impending recession” is the undeniable fact that the economy is and has been growing steadily since the President was elected.

    So the moronic predictions of an economic disaster occurring soon after PDJT’s election have now been embarrassingly debunked, and have destroyed the credibility of the “experts” who made those predictions.

    By the same measure, the doom and gloom predictions are simply a slightly toned down version of the aforementioned “disaster” predictions, but these latest “prophecies” deserve no better respect.

    Liked by 6 people

    • LafnH20 says:

      Agreed, GB.

      The Global Corporate Media say….. They’re Experts…
      Experts Indeed… In Manipulation.

      It has become painfully obvious, imho, a casual observer walking down Main Street comes away with more insight as to what is “Actually Happening” than they would sitting in front of the “Tube” believing ALL the prognostic blather coming from “The Experts” in Global Corporate Media… Combined!!

      Liked by 4 people

  8. JonS says:

    Is Varney playing at being obtuse, or is he just dumb as a brick all the time? “what are the chances for a ‘modest agreement’ where we strike the tariffs and China promises more promises so that we will kick the IP theft can down the road yet again? (my paraphrasing a bit)”

    Like

    • LafnH20 says:

      JonS,

      Prolly more like devils advocate. (Varney)
      Dunno

      China needs weakness.
      China has gotten used to weakness.
      China has paid for weakness (Bribes)
      China expects weakness.

      https://money.cnn.com/2018/03/23/technology/china-us-trump-tariffs-ip-theft/index.html

      FTA…

      How much has the US lost from China’s IP theft?

      President Donald Trump has slapped tariffs on $50 billion worth of Chinese goods, taking aim at China’s theft of US intellectual property.

      The United States has long said that intellectual property theft has cost the US economy billions of dollars in revenue and thousands of jobs.

      So just how much damage has it done?

      The United States Trade Representative, which led the seven-month investigation into China’s intellectual property theft and made recommendations to the Trump administration, found that “Chinese theft of American IP currently costs between $225 billion and $600 billion annually.”

      Those numbers are in line with a 2017 report from the Commission on the Theft of American Intellectual Property.

      Chinese officials have said that protecting foreign companies’ intellectual property rights is important to China.

      But many of its companies appear to have missed that memo.

      Imo… China not gonna get it!!

      President Trump can negotiate.
      Or, simply wait and “See what happens” while China bleeds out.
      A position of strength!

      It is China that wishes to kick the “can” down the road to 2020; Summoning every “Bought Politician and Hack” to assist in that endeavour.
      Imho…

      That.. Proverbial “Can”, much like Elvis, Has left the building. And In that same vein…
      Ain’t expected to return… any time soon.

      Liked by 3 people

    • Rynn69 says:

      Fox is all messed up. IMHO, the hosts feel the leftward shift and it has stifled some of their freedom.

      Like

  9. Oldretiredguy says:

    Been a while since researching jobs numbers, but doesn’t the rule of 3 service sector jobs for every manufacturing job still apply? It appears that the timing is right for a misinformation swell to take the positive light off of PDT’s economic success. While Kudlow’s explanation seems right on, there may still be some positive job numbers that have not yet fully developed if the 3 to one rule still applies

    Liked by 2 people

  10. ann says:

    first time in my lifetime I trust the President’s economic policy and team

    Their collective ability to extract us from the globalist lobster trap and not get trapsped into lmilitary conflict is a tour de force in competent leadership.

    Liked by 3 people

    • WRB says:

      Yes, the US has had some mediocrities of late, so it has been refreshing. On the other hand, the crop of light-weights running for the dem nomination are frightening in their collective incompetent unserious and even lunatic personas.

      Liked by 3 people

  11. Rynn69 says:

    I never laughed so hard! I guess I had missed Kudlow the Koala Bear whose future is so bright he’s gotta wear shades. Sundance is a treasure.

    Liked by 1 person

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