Monday, September 04, 2017

Labor Day 2017, DACA and a few other stories


We will look at Labor Day 2017 and memories of holidays past...........North Korea is front page again.....DACA and President Trump.......and other stories............

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Mexico should invite the "dreamers" to come home

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According to news reports, President Trump will make an announcement about DACA on Tuesday.    It looks like he will extend the program and then force Congress to make a decision.    The President is correct.   Congress should make the decision.

As you probably heard, there are approximately 1 million "dreamers" in the US.   They are the young people who came here with their parents and grew up in the US.  They are the objects of a huge debate about their future and immigration status.

In the interest of full disclosure, I am sympathetic to finding an arrangement for some of them.

However, I found President Obama's "decree" appalling and wrong.  We should not have a president who issues decrees.  We don't live in Venezuela, but rather the US where Congress makes immigration laws and presidents enforce them.

It also amazes me how quickly Mexico has given up on these young people.  


Why isn't the Mexican government inviting them to come home and be a part of a 21st century Mexico? 70% of them are Mexican and have indirect or direct contacts with their families back home.

This is a group who has accomplished quite a lot:
"Nearly 60 percent of those eligible for Obama's new policy (about 800,000) are currently enrolled in K-12 institutions, a quarter of those eligible (about 370,000) are high school graduates or have earned a GED certificate, and more than 15 percent (about 220,000) are enrolled in or have graduated from college, according to recent estimates by the Migration Policy Institute." (HuffPost)
Let me repeat.  It is amazing that Mexico does not call on these young people to bring their talents home.

Question: How many Mexicans have high school diplomas?  How about adding 200,000 people to the Mexican economy who are enrolled or have graduated from college?

Last, but not least, most of these young people are bilingual, an extremely important skill for a Mexican economy looking to expand internationally.

We ask again:  Why isn't Mexico calling on these young people to come  home?  


They are a huge source of talent and would play a key role in a 21st century Mexico.

The young people are already Mexican citizens.  They would not require any "papers" to be incorporated into the economy.  What's the point of losing this talent to the US?

I am really surprised that Mexico is so eager to say goodbye to such a talented group of young people.

P.S. You can listen to my show (Canto Talk) and follow me on Twitter.



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Labor Day and a little more confidence in the air


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Happy Labor Day!  
We have a few things to cheer about this Labor Day. We embrace with passion that 3% GDP revision. We have not seen that 3% GDP number for quite a long time, i.e., eight years of Obama!   
Let’s check this summary:    
The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.
Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. 
 
The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.
Growth last quarter was the best since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period.
Economists had expected that second-quarter GDP growth would be raised to a 2.7 percent rate.  
Isn’t it amazing what a little confidence will do to the U.S. economy?   
To be honest, our old nemesis “participation rate” is still around. The “rates” have been in the low 60s for a few years or not a good sign yet that the recovery is complete. However, I’m optimistic that a little more “3%” growth could see that change for the better.
To paraphrase the late Yogi Berra, 90% of the economy is mental and the other 10% is in your head.      
What we are watching is a private sector that suddenly feels that the guy in the Oval Office understands how a private sector economy works. They may not feel perfect about the U.S. economy but at least they are comfortable with the pilot.
These new numbers should also provide a launching pad for the GOP to start talking jobs.   
They should listen to President Trump, who connects with crowds when he does that, as Kimberly Strassel points out:    
In Missouri, Mr. Trump busted up the left’s class-warfare model. He didn’t make tax reform about blue-collar workers fighting corporate America. Instead it was a question of “our workers” and “our companies” and “our country” competing against China. He noted that America’s high tax rates force companies to move overseas. He directly and correctly tied corporate rate cuts to prosperity for workers, noting that tax reform would “keep jobs in America, create jobs in America,” and lead to higher wages.
Mr. Trump pitched tax simplification as a question of fairness, urging lawmakers to eradicate the “special-interest loopholes” that his own business uses, so as to level the playing field for Americans who can’t afford “an army of accountants.” 
This all sounds pretty good, unless you are Chuck Schumer.
Or  maybe Bernie Sanders!
Happy Labor Day and let’s get the GOP to work so that more Americans can work, too!
P.S. You can listen to my show (Canto Talk) and follow me on Twitter.

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Happy Labor Day 2017: A 3% GDP sounds good!

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We wish you a very happy Labor Day.    

We are happy to say that the US economy is in that 3% GDP territory that we've wanted for quite some time:    
The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.
Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.
Put a burger on the drill and let's have one to celebrate good economic news!

P.S. You can listen to my show (Canto Talk) and follow me on Twitter.









Labor Day weekend: it's strange not having Jerry Lewis on TV raising money for the kids.....remember since 1970's!



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