There’s good economic news all over, but since much of the media have declared it their duty to ignore that and concentrate on negative Trump stories, I guess it’s up to me to tell you about it:
Thursday, Walmart stock leaped more than 10% after the company announced that its same-store sales growth rate since last year was nearly double predictions and their e-commerce had grown by 40%. The LEI (Leading Economic Index) rose by 0.6% in July, following a 0.5% jump in June. And on Friday, the Bureau of Labor Statistics announced yet another historic employment mark for a formerly lagging demographic: the summer youth unemployment rate (for 16-to-24-year-olds) fell to 9.2% in July. That’s the lowest it’s been since the summer of 1966, the year the Beatles released the “Revolver” album (gosh, I hate even to think about that being 52 years ago!)
I can think offhand of three possible reasons for the plunge in youth summer unemployment, all of them positive:
1. The economy is booming so much that employers no longer have the luxury of choosing from among 100 experienced applicants for every minimum wage job, the way they did during the Obama years (which is why I think the Democrats’ slogan for retaking Congress should be “MASA: Make America Stagnant Again!”);
2. Young people decided that working actually looks better on their college applications and teaches them more about the real world than all those extra-curricular activities and “lessons” that had replaced summer jobs in recent years (if so, then they’re right);
3. (And this would be the most positive development of all) More young people want to make money, which means they’ll learn the satisfaction of earning an honest paycheck for a hard day’s work, one of the best ways to start out on the right path in life. And when they get that first paycheck and see how much the government took out of it in withholding before they even had it in their hand, it will set them on the right path to becoming Republicans and capitalists and inoculate them from college professors brainwashing them with socialist rubbish. That can only be good both for them and for America.