Economic analysis can get weedy…. so a simple way to look at productivity is to think about baking bread in your kitchen.
If you were going to bake 4 loaves of bread it might take you 2 hrs start to finish. However, if you were going to bake 8 loaves of bread it would not take you twice as long because most of the tasks can be accomplished with simple increases in batch size, and only minor increases in labor time. Your productivity measured in the last four loaves is higher.
Economic Productivity is measured much the same way, within what’s called a production probability equation. Additionally, if two hours of your time are worth $40, each of four loaves of bread costs $10; but if you make 8 loaves in the same amount of time the labor cost is only $5/per loaf.
From 2007 through 2017 the average rate of productivity increase was 1.3%. In the fourth quarter of 2018 productivity was 1.9%. That means total business output increased as more product was demanded from within the business operation. Throughout the economy people just wanted more stuff. However, the most important numbers for MAGAnomics (Main Street USA) center around manufacturing and durable goods.
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Senate Judiciary Committee Chairman appears on Fox News to discuss the border security funding bill. Senator Graham urges President Trump to accept the deal that is presented and move on.
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Acting White House chief-of-staff Mick Mulvaney appears on Fox News to discuss the ongoing political efforts of the resistance movement, Nancy Pelosi’s faux-negotiation strategy, and the larger objective to secure the southern border.
In the distant background, President Trump is already building enhanced fencing to secure the U.S-Mexico border and the larger conversation is about the politics of funding. Mulvaney notes the funding for border security can come from a variety of mechanisms available to the President, so the issue of direct funding for a border wall is essentially a political argument where democrats must maintain the optics of resistance.
All of that said, it appears President Trump is guiding the resistance toward the brightest exposure on their radical agenda items.
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The Chairman of the White House CEA Kevin Hassett appears on CNBC to discuss the strong January jobs report and economic indicators that were released last week.
Hassett is valuable, very valuable, because he is one of the few bean-counters who reviews current analysis through the prism of what is factually happening around him; as opposed to economic theory. Because he accepts what I call ‘fluid-currentism‘ Hassett is one of the few analysts who (early on) started recognizing that under MAGAnomics (Main Street centric policy) inflation was no longer connected to the FED engagement.
To say acceptance of this ‘new dimension‘ puts Hassett on the cusp of leading economic review would be an understatement. Additionally, it makes his commentary exceptionally more valuable [listen to the segment at 02:50]. Hassett is pragmatic, positive, open to accepting all fact-based evidence, on point, and more importantly, accurate.
…”The booming economy is giving us the social justice that people want”… ~ Kevin Hassett
Unfortunately, most financial pundits are prone to talking down the strength of the U.S. economy. It’s maddening. They spend all day mining for coal nuggets while currently surrounded by diamonds.
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White House Director of Strategic Communications appears on Fox News to discuss the ongoing appropriations discussion, and the White House position on border security to avoid another shutdown in three weeks.
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It is a rather incredulous dynamic where President Trump is fighting to secure the southern border, while the Democrat speaker of the House of Representatives, Nancy Pelosi, coordinates resistance bribes from Mexican cartels to stop him. I digress…
In this segment from Fox News Sunday, acting Chief-of-Staff Mick Mulvaney discusses the issues around trying to get funding for U.S. border security and the possibility of another government shutdown.
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White House Deputy Press Secretary Hogan Gidley appears on Fox News with Jeanine Pirro to discuss the current partial government shutdown and the impasse between the White House and Speaker Nancy Pelosi.
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President Donald Trump will be making a widely anticipated announcement on the government shutdown and border crisis from the White House today. The speech will likely outline a proposal to end the partial government shutdown.
The president is anticipated to outline a proposal for $5.7 billion for physical border security in exchange for “The Bridge Act” which would extend protections for Deferred Action for Childhood Arrivals (DACA), and legislation to extend the legal status of Temporary Protected Status (TPS) holders. Anticipated start time 4:00pm EST.
UPDATE: Video Added
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White House Director of Strategic Communications Mercedes Schlapp discusses the partial government shutdown over the border wall funding and the most recent call by Democrats’ to raise taxes.
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Appearing on Face the Nation, Republican Senator Lindsey ‘Marcus Junius Brutus‘ Graham (U-DC) discusses his bold support for President Trump and the need for a physical border barrier.
Senator Brutus, a beneficiary of the U.S. Senate Armed Services Committee [think lobbying – example here], connects his support for President Trump’s border position with his concerns about a withdrawal of a U.S. military presence in Syria. Quote: …”the president is slowing down and he is reevaluating his policies”…
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“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear.” ~ Cicero