Today the BLS told us the economy added a gazillion jobs, and even the labor force participation rate increased a few tenths of a percent.
But somehow, wages and hours worked fell. 55,000 of those new jobs were in retail.
Life just gets better and better!
Don't believe me? Here's Bloomberg columnist Noah Smith, who says Trump Has a Point About American Decline. Now, that title may sound promising, but truly exceptional bullshit transcends superficial impressions.
I've re-printed some of the article below the fold. As you read it, do not say to yourself—
This is total bullshit!
No, no. Try to appreciate the superior quality of this bullshit.
In Flatland, what is not said is very often more important than what is said. For example, in Smith's article, you will not find the word "corruption". You will you find the word "inequality". Or the word "globalization". Or the word "finance". Or the word "debt". Or the word "bubble".
You won't find the fact that nearly half of America's children live in poverty.
There are many, many other depressing things you won't find in Smith's article, almost as many as the number of shitty jobs added to the economy in February.
Alternatively, you can seem to acknowledge an unhappy thing which reflects badly on humans, or the current situation, and so on, and then rationalize it away!
These behaviors reflect the "beauty" of the human mind — terrible realities can simply be edited out of the picture, or rationalized out of existence. Truly exceptional bullshit like Smith's does both. Once reality has been heavily filtered, the human condition looks great!
Have a nice weekend.