By Josh Schafer and Jared Mitovich
...This marked (click here) the 14th-straight month that job creation came in above what Wall Street economists had expected and the largest monthly increase since January.
The data sent stocks higher on Friday as investors continued to expect a pause in the Federal Reserve's interest rate hike campaign will be announced later this month....
Wall Street understands money and the money that comes from the government is especially their concern. The markets are about profit and loss and not about governance.
Let me ask one clarifying question:
"When a President's governance opens OPPORTUNITY to minority populations through sound governing principles, isn't that expanding the economy to include more consumers with more income?"
Former President Jimmy Carter carried out an economic strategy to bring about more opportunity for minorities in the USA. It was mostly rejected as an incompetent economic strategy and the markets and Republicans fought it all the way. It was racist to fight progress in bringing all Americans into the work environment and ultimately the Middle Class and beyond.
May 1, 2023By E. Stanley Godbold, Jr.
As we approach almost half a century since Jimmy Carter (click here) was elected president in 1976, the timing is right to reevaluate his place in history. His and Rosalynn’s legacy will be, as he wished it to be, peace and human rights. As more scholars, journalists and memoirists examine primary evidence and place the Carters in the context of their times, the image of two of the greatest peacemakers of their era emerges.
The turning point in Carter’s life came in 1953 when his father “Mr. Earl” Carter died. Returning to Plains, after resigning from the U.S. Navy to take charge of the family business, Carter was shocked to discover that his father had been quietly giving aid to poor and needy people, both Blacks and whites....
President Biden came into office with the same type of economic strategy. The progression of Biden's economy nearly was identical to Carter's. The reason Biden's administration is successful where Carter's failed is because there is a far stronger recognition of inequality in the USA than before. The change is palpable. Society is going through a paradigm shift.
Biden's strategy is designed to push through change in a way that is unfamiliar to the text book strategies of Wall Street. There is a huge difference between governance and economics of Wall Street. Governance is a matter of confidence that the moral and correct path will bring a change in the country that is benevolent and "good for America." Wall Street doesn't care about what is good for America, it cares about what is good for itself and it's stockholders. Wall Street's focus has NOTHING to do with governance and bringing equity UNLESS the government demands certain performance from companies.
When governance insists on changes that benefit those in society normally ostracized by prejudice it expands the economic markets by bringing folks into them through work earnings, not corporate earnings. The GDP grows and all is good. Not to say there isn't resistance to change, absolutely there is, but, pushing the envelope on that change and enforcing it results in good economic outcomes.
The Biden administration is not taking "no" for an answer and as a result there is incredibly good job growth, more economic purchase power in the markets and Wall Street really has no complaints. Wall Street has grown a consistent amount every month and year. They are making money and plenty of it. Why? Because governance is working, more people are earning and the markets are valuable.
So, while all the Naysayers are complaining about a recession that never happened, they are making money. They are not running away with every dime being generated in the moral working Middle Class, they are making money and the future looks really good for all Americans. The Fed has helped, but, there is plenty of confidence by consumers and that is fueling spending and profits. The growth is good and consistent. There is absolutely no recession in sight and the optimism should continue into the future.
Ya know, I have to laugh at Republicans. They complain about a work ethic that should accompany food stamps and other programs, right? Hello? There is no need for it. Whoever needs food stamps and other programs sincerely need it. You will excuse me, but, "Hey thar, Republicans," everyone is working that wants and can work.
Republican politics is old and boring.
