We don't need any more immigrants: Population increases have outpaced labor force increases for a decade

Before the Great Recession the growth rate of the labor force easily exceeded the growth rate of population for decade after decade, but since then the situation has reversed dramatically.

Population has been increasing at a rate 75% higher than the labor force over the last decade. The increased population is not assimilating to work.

THERE IS NO LABOR SHORTAGE.

Increasing the population of the non-working has been the number one drag on the economy, causing GDP to fall and debt to rise, negatively impacting every standard measure.

Republicans retained 80% of "pure" House retired seats but this fool believes whatever Rush Limbaugh says

The economy of the last ten years has had much more in common with the Great Depression than the post-war

South Africa racks up two quarters in a row of negative GDP growth under land-grabber Cyril Ramaphosa, new president since February

Ramaphosa's domestic policy is centered around "land reform", i.e. seizing land without compensation. Apparently production is already suffering because farmers are convinced there's no point to going on any longer.

South Africa farm seizure: Terrified white farmers plot escape as crackdown looms:

A RECORD number of white South African farmers have put their land up for sale amid fears the ruling party is considering confiscating properties bigger than 25,000 acres.

By SIMON OSBORNE

PUBLISHED: 07:03, Mon, Aug 20, 2018

UPDATED: 07:26, Mon, Aug 20, 2018

Omri van Zyl, head of the Agri SA union, which represents mainly white commercial farmers, said: “The mood among our members is very solemn. They are confused about the lack of any apparent strategy from the government and many are panicking. So many farms are up for sale, more than we’ve ever had, but no one is buying.” ... Agri SA said about 20 per cent of South Africa’s farms produce 80 per cent of the food that feeds millions of people in southern Africa, and many of those properties would be affected by a 25,000-acre cap.

Democrat socialist Ocasio-Cortez is a crackpot, says everyone has two jobs when multiple jobholding is at historic lows

The lights are on there, but nobody's home. Even at the historic highs it was less than 7% of the employed, and that was back in the Clinton era when the economy is pretty much universally acknowledged to have been a lot better than it is now. That suggests multiple job holding is a good thing, not a bad thing. When people can get two jobs that means there is more opportunity to work harder to save for important goals and pay for them. No coincidence, either, that GDP was better then when more people worked multiple jobs. More work equals more GDP.

The biggest disappointment in today's GDP report was the collapse of private investment

Compared with the average from 2007-2017, the points contributed to real GDP in 2Q2018 by private investment plunged 128%. It was the only category which actually subtracted from real GDP (-0.06 vs. an average contribution of +0.211 from 2007-2017, which includes the subtractions of the Great Recession era).

This was awful, but predicted by just about everybody. The tax cuts were supposed to deliver investment. Instead, they delivered consumption, an orgy of consumption, relatively speaking. The contribution from personal consumption was up 127% compared with the prior eleven year average, some part of which is fueled by borrowing. Total consumer credit outstanding in May hit a new record $3.897 trillion.

And speaking of fuel, the biggest gainer percentage-wise was net exports (oil), its contribution up a whopping 1414% over the previous period average. That's great for the oil business, but consumers are paying over three bucks a gallon for gasoline today. A lot of the personal consumption increase (above) is going straight into the fuel tank.

That's a neat trick of GDP. Export a commodity needed at home, driving up the price which consumers pay, and then the government turns around and counts consumers' misfortune as a sign of a growing economy! Yeah! Reelect the president!

Finally we have the contribution from government expenditures and investment, also up in a huge way, 1056% over the previous period average contributed (which includes all of Obama's stimulus). We needed the big increase to defense spending, to be sure, but that's for maintaining the possibility of increased standards of living. It's not the same thing as an increased standard of living.

Cue the happy talk. Surely it's five o'clock somewhere.

What economic boom? Show me!

Arbeit macht GDP: At root America's basic economic problems lie at every level in not working enough

There is no age tranche working up to its potential, especially not teenagers, but also not the college-aged, not the core 25 to 54 years, and now not even the over 55 crowd. The latter in fact has only been held up more or less by those over 65 ramping up their participation in the wake of The Great Recession.

It all starts with the phenomenon of "failure to launch" in the teenage years. Baby Boomers didn't simply have fewer children and work less. They had fewer children who also lacked a vigorous work ethic. And that now appears institutionalized in the children of the children as well. This has now rippled through the system, as can be seen in the increasingly later dates for peak average annual participation in the age tranche charts below (1979, 1987, 1997, 2012, and 2016-2017?). GDP will not improve without a cultural reestimation of work. And a return to work will not occur without a need to return, which can only mean one thing:

“from rice paddy to rice paddy in three generations.”

16 to 19

20 to 24

25 to 54

55 and over

65 and over (subset)

Maybe dropouts from the labor force were a cause of the Great Recession rather than a result

The high rate of dropping out of the labor force we've become accustomed to since the Great Recession actually predates it by a decade, suggesting that dropping out may be a cause of the Great Recession rather than a result of it. Continued slow growth of GDP since the Great Recession can also be explained by the absence of these inputs.

What economic boom? 1Q2018 real GDP at 2.3% disappoints again

After three revisions, 4Q2017 real GDP still comes up short at 2.9% annualized

That's up from 2.5% in the second estimate, but still down from 3.2% in 3Q.

That means that despite the holiday shopping season and all the expenditures of hurricane recovery, the economy still slowed down in the fourth quarter of last year. It should have been the best quarter yet if the economy were truly on the upswing.

To make matters worse, 1Q2018 is shaping up to be a horrible 1.8%.

South African parliament votes to violate post-apartheid agreements and confiscate white-owned farms without compensation

The story is here.

South African GDP has contracted by a whopping 29% as black radical Marxists have gained the upper hand there since 2011.

The country is following the pattern of neighboring Rhodesia, which willingly embraced Marxist Robert Mugabe in 1980.

Keep letting into America 1 million non-whites a year and the same will happen here.

It's just a matter of time. In South Africa, it took just 24 years.

Brian Wesbury is back in the excuse-making business for future GDP

Here, complaining that the upcoming two-year Republican $300 billion discretionary spending extravaganza will crowd out the private sector.

Really?

Republicans were quite content under Obama to permit deficits of $7,313 billion over eight years, and Wesbury chirped the whole time about his good old Ploughhorse Economy which produced, for him, passable GDP.

Republicans now are rewarding their constituencies through spending, no less than Democrats did under Obama. The constituencies are different.

We'll see if the spending gets as out of control as it was formerly, but the handwringing, given the disparities, is misplaced. 

The debt bomb rearmed

Current era GDP growth is underperforming Reagan era growth by 42%

Current era growth of GDP is averaging 4.3% vs. 7.4% during the Reagan era.

That was a boom. This is not.

Sorry, but even by recent standards 2017 was not a booming economy