Clueless at the Whitehouse

ABC:

ABC News' Yunji de Nies and Jake Tapper report:

At his daily briefing today, White House spokesman Robert Gibbs said the stock market "can be a lagging economic indicator."

Many economists consider the stock market a leading economic indicator as it tends to rise and fall ahead of the broader economy.

Unemployment is traditionally a lagging indicator.

For instance, Bernard Baumohl, Chief Global Economist of Economic Outlook Group has said, "History has shown us time and time again that recessions end and recoveries begin long before we see an improvement in the labor market ... After the 2001 recession concluded in November, joblessness continued to rise until the middle of 2003. We will almost certainly have another jobless recovery for many months once this recession ends, which we believe will be in the second half of the year."

...

This is as bad as Obama's "profits to earnings ratio" gaffe. The stock market usually is looking roughly six months ahead or more depending on the data investors are seeing.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

Is the F-35 obsolete?

Headline USA: Pentagon Fires Back after Musk Calls Its Most Expensive Project ‘Obsolete’ 'Yeah, as I'm sure you can appreciate, Mr. Musk is, currently, a private citizen, I'm not going to make any comments about what a private citizen may have to say about the F-35....'   ... ... Drones appear to be replacing jets for many operations.  The Russia-Ukraine war is an example of that.  Drones are often hard to detect and can be used for intelligence operations as well as for attacking enemy targets.  It would not surprise me to see drones engaging other drones in combat.  They also cost much less than manned fighters.  
Read more

Apple's huge investment in US including Texas facility

Blaze: Apple announced a $500 billion commitment to infrastructure in the United States over four years, its largest commitment to domestic spending to date. Apple said it will expand teams and facilities in Arizona, California, Iowa, Michigan, Nevada, North Carolina, Oregon, Texas, and Washington as part of its new spending. With a new facility in Houston, Texas, Apple will reportedly double its investment in advanced manufacturing along with increasing investments in AI and silicon engineering. The company said in a press release that the Houston facility will produce servers to support Apple Intelligence, the "personal intelligence system that helps users write, express themselves, and get things done." ... The Texas facility will be for advanced technologies.   Texas has become a place that is very supportive of the tech industries.  Austin and Houston have seen much of the tech growth in the state.  Texas universities have been active in the AI field.
Read more