News Story of the Day: the Federal Reserve-fueled boom continues as the United States unemployment rate fell to a 16-year low of 4.3 percent.
Analysts note that the labor market has been losing momentum. Nonfarm payrolls jumped 1380,000 in May because manufacturing, retail and government sectors shed jobs.
This may still give the U.S. central bank enough ammunition to raise interest rates at this month’s Federal Open Market Committee (FOMC) meeting.
Chart of the Day: the myth that the rich don’t pay their fair share has been debunked time and time again. Every time a liberal utters this fallacy, you should point out to the chart below, which shows the rich pretty much pays everybody’s share of taxes.
Illustration of the Day: if you ask a millennial or Generation Zer what one government policy they want the most, they will tend to say free tuition or the elimination of their student debt. With college graduates facing $1 trillion worth of crippling student loan debt, what’s the solution? This graphic summarizes the discussion:
Quote of the Day: for years, everybody has worried about the trade deficit. But why? Everyone has a trade deficit – even you do with your supermarket. Here is legendary free market economist Milton Friedman discussing the balance of trade:
In the international trade area, the language is almost always about how we must export, and what’s really good is an industry that produces exports. And if we buy from abroad and import, that’s bad. But surely that’s upside-down. What we send abroad we can’t eat, we can’t wear, we can’t use for our houses. The goods and services we send abroad, are goods and services not available to us. On the other hand, the goods and services we import, they provide us with TV sets we can watch, automobiles we can drive, with all sorts of nice things for us to use. The gain from foreign trade is what we import. What we export is the cost of getting those imports. And the proper objective for a nation as Adam Smith put it, is to arrange things, so we get as large a volume of imports as possible, for as small a volume of exports as possible.
This carries over to the terminology we use. When people talk about a favorable balance of trade, what is that term taken to mean? It’s taken to mean that we export more than we import. But from the point of view of our well-being, that’s an unfavorable balance. That means we’re sending out more goods and getting fewer in. Each of you in your private household would know better than that. You don’t regard it as a favorable balance when you have to send out more goods to get less coming in. It’s favorable when you can get more by sending out less.
Tweet of the Day: how do you know you have done the right thing? You irk the entire elitist, globalist establishment and send the likes of Leonardo DiCaprio into insanity. That is exactly what President Donald Trump did on Thursday when he announced he was exiting from the Paris Agreement, an international climate change treaty that accomplishes nothing. Paul Joseph Watson makes a good point:
“I was elected to represent the citizens of Pittsburgh, not Paris.”
Technocrats don’t understand this since hardly any of them are elected
— Paul Joseph Watson (@PrisonPlanet) June 1, 2017
Video of the Day: whate the heck is happening at Evergreen College? If you ever want to see a man get immasculated by social justice warriors then you have to look no further than George Bridges. The school is metastasizing into an insane asylum – it’s just a product of government education since the children there don’t even know how to read. Here is the video:
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