Each day I receive many emails from our readers. Today, I respond to three of them.
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Hello Dennis, my name is Louis and I have a question that maybe you can clear up. When ever I say or post things on Facebook about how good the economy is, I always get the response ” thanks Obama” is this a true statement or is this just the liberals not accepting President Trump is doing right by the people?
DML: As you can see in today’s jobs report, the economy is booming. As for Obama taking credit for the uptick, that is absolutely crazy and whoever posts that sort of thing on Facebook is clearly a novice when it comes to the economy. During Obama’s reign, especially in the last few years, the unemployment rate was a misleading number.
Although Obama would try to tout that things were improving, they were not. The indicator of this was the “participation rate.” Unemployment can drop, but if the participation rate gets worse — meaning more people are on the sidelines — all it means is people have stopped looking for jobs.
The labor force participation rate, a measure of all the workers who could be working that either are working or are looking for work, rose to 62.9% in July from 62.8% in June. In July 2016, it was 62.8%.
Higher is better because it shows more people in the work force. During the dot-com boom, it was around 67%. During the housing bubble, it was 66%. The last time the rate was at these levels was the 1970s.
Tack on this… In July, average hourly earnings for private-sector workers increased 9 cents to $26.36 an hour. It was the largest monthly increase since October. During Obama’s time in office, all the wage growth went to the top 1%. So, ask your Facebook friends what exactly it was that Obama did to cause this pop.
DML I look at the results so far of your daily poll and come away realizing your readers are delusional when it comes to President Trump and how the government will tie his involvement to Russia. They should make no mistake these people….. Mueller and the Dems are out to get Trump. They want him destroyed. If Mueller comes back with something bad it will point to Trump. The majority of your readers marked OTHER. There have been a small handful to vote TRUMP. Ever wonder why casinos make so much money????? Because the public is always wrong when placing their bets.
DML: Joe, although I will not agree with your use of the word ‘delusional’ when describing those who voted OTHER, I do agree with your thoughts about how the gov. will be going after Trump. I think people pick OTHER based on hoping for the best. I voted Trump, too.
DML, I am so happy to hear you are cancer free. When will the daily Walk AND Talk videocasts start up again? I miss them. Nobody explains things like you do. Plus you always make me laugh. Everyone is anxious for your return.
DML: Hi, Sally. Thanks for the concern and well-wishes. Yes, as of now, it appears I am cancer-free. Sadly, however, I remain in tremendous pain on a daily basis. My legs and lower back are still as bad as they have been. Although I can do a sit and talk, it remains uncomfortable for me to sit in one spot for too long. I have more tests next week and am hoping we get to the bottom of it soon. I am starting to lose my patience. At this point, I am hoping for a September restart of the W&T. I just do not know.
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