U.S. wages growing at fastest rate in 9 years as unemployment stays at 3.9 percent

The US economy, that had been improving since 2009, is going Trumpy.

Added to all the categories for which Americans consistently assign Trump loathsome assessments, the economy may finally be succumbing to Trumpery.

 

If you know the history of the many mortgage lenders who cropped up for the occasion, you know that they did a good job of talking borrowers into zero-down, low interest loans by showing them that they could afford the payments, AND most of those borrowers did make the payments until the interest rate was suddenly bumped sky high much, much later (years typically). And since the industry created derivatives to bet on borrowers defaulting, AND since the information regarding the future changes in interest rates were hidden often not only on a different page in a 50-page loan document (they are normally 2 or 3 pages) in small print, but in a completely different document that was not mentioned to the borrowers and who never saw it, we have to logically conclude that it was the crooked loan companies that were at fault. The borrower trusted the fast-talking loan officer who was working to deceive, and now you want to put all the blame on the borrower?

 

But wait a minute!!! They have hype and talking points. Not good enough?

 

He was out of office for two years when it reached those leaves, and she had been Speaker for four

 

It started with George Bush and Pelosi is not responsible.

 

No actually it wasn’t close to double digits under Bush

 

-653.17 today on the market

the GOP is striking again!

 

You mean that all of a sudden unemployment goes to double digits? No, it is a process. George Bush was responsible for the sub-prime lending that resulted in unemployment, recession, etc. There were more sub-prime loans in one year than in all of history. The Democrats inherited this mess.

 

Certainly if drops another 30%, I'm going to push my cash in.

Well, $4.1T, but they had $800B before the recession, so, I'd say they have $3.3T to roll off. They are rolling off about $25B a month under Trump and selling it private investors. They paid full value for it, the effective Fed rate is 2.4% so the loss is at least $600M a month at current interest rates. This is also why anyone worried about hyper inflation has no understanding of the massive load of ammo the Fed has to keep a lid on inflation. Double the asset sales and suddenly they are destroying $1.2B a month, and they have 66 months of ammo just to get to normal.

 

That's the Fed's work silly, and everyone has known this day was coming. The Fed has been in qualitative tightening the entirety of the Trump presidency. And at 3% GDP growth why would they not change policies from Obama's sub 2% growth? Once your leg is healed do you still need your crutches?

 

Bush was a lender? You don’t say??

 

What has been the growth from Day one to Day Now of Trump? Not 3%. Less than Obama?

Trump unsettles the markets and business will punish him for it.

 

and no bush and the gop didn’t pass the 1977 legislation encouraging banks to give subprime. Unemployment also didn’t get double digit all the sudden...took years of dem leadership. It should also be noted it was the Dems,Barney Frank telling us all Fannie and Freddie were sound

 

'struth, please go back read some history. And Barney Frank was a minority member of a majority GOP Congress.

 

What the market craves most is predictability, stability and consistency in global markets, the Fed and the White House on which a risk management strategy for investment is plausible. That is not what they are going to get under a Trump Administration. There is absolutely nobody left to contain the man's impulses on domestic foreign or economic matters. When Trump feels weak or threatened, he just gets worse.

 

I put blame on everybody having anything to do with this travesty. But, ultimately, the buyer is the one on the hook, and therefore the one most at fault. It's called "responsibility", and if anyone is too oblivious or unwilling to understand fully what he/she is signing up for, then a bunch of stinking Wall Street conniving criminals will have them for dinner -- especially after liberal Democrats in the government made it seem so easy for them to just buy anything their stupid little hearts desired.

See what I mean? You mix poorly-educated, totally irresponsible people with a very large purchase that is so OBVIOUSLY above a person's ability to pay, then add a conniving, 'fast-talking' loan officer, and it's the perfect recipe for disaster.

And who is ultimately left on the hook? Go look in the mirror....

There never should have been ANY "rescues", for ANYBODY, but, obviously, the wonderful Federal Reserve System had different ideas... and a lot of the same corporate 'biggies' who were involved in these rackets ended up being even richer than before -- thanks to the Fed!

 

Oh sweet. Blame the victim. Who's next? Rape victims?

 

You certainly seem to understand this exquisitely-choreographed, labyrinthine Fed 'Kabuki dance' better than I do, Zorro. Christmas is tomorrow, but the futures for Wednesday appear to be down another 707 pts. for the Dow, and 167 for the 'DAQ.

I understand that the Fed wants rid of their 'great recession'-acquired balance sheet. Dumb question -- wouldn't the fastest way to make it 'go away' be to just let everything descend to its true value? . The Fed is legendary for being allergic to 'deflation', but wouldn't deflation be the fastest and fairest way to simply make all this unwanted, toxic crap disappear...? Obviously, if we really had an equally-legendary "free-market" system, the Fed never would have taken all this crap on in the first place....

 

Truth, Kode? I don't really CARE! If some bunch of Wall Street slimebags manage to work just a fraction of an inch INSIDE the law, then there's nothing the law can do about it (although impromptu firing-squads wouldn't be the worst idea of how to deal with them). But, before all else, the BUYER must have some degree of perception, knowledge, and intelligence. If the BUYER is some kind of mentally-defective, oblivious, half-wit than all else is lost....

I just wanted the TAX-PAYER to be left OUT of this whole miserable thing! Instead, thanks to the Fed, many of the slimebags got richer, and way too many people got "bailed-out"... or were simply allowed to 'walk away'....

 

What you either don't seem to understand, or you haven't realized, is that there should not be any scheme allowed by which the unwary could be harmed. The fault lies not with the loan borrowers but with the loan companies that created the trap for the unwary. We don't run a nation that says "it's all on you folks! Keep your eyes open because there are lots of traps and tricks out there which we allow!"

 

Yeah, that's the path not taken, and frankly it's gone better than I expected it to. DOW looks like it's down 17% from it's all time high, so not quite a bear market yet. 21,440 should be enough for bear market territory. So another 350 points would do it. It sounds like we might get there the next time the market opens. Another 25% down and I suspect anyone that doesn't buy later regrets it.

 

Is that what you got out of that? Bush was a lender? You don't say??

 

True about Barney Frank. Bush could have and should have reigned in those banks that were approving sub-prime loans.

 

How is a president suppose to do that? The president doesn’t have the unilateral authority to “reign in” private banks. For that matter he had, at least then, very little authority to unilaterally “reign in” Fannie and Freddie, who had approved the majority of the sub prime loans, backed them, and bundled them to sell on the market. He had created a Commission that uncovered the massive accounting flaws at Fannie and Freddie but by the time the results were released it was late 2005, and in 06 we had the midterms with the Dems taking Congress..and Barney taking Chairmanship of the Housing and Banking Committee

 

That’s what it sounded like you were blaming him for