The Wall Street Journal reports that it’s Morning in America again:
Unemployment fell in every state and the nation’s capital last year—something that hadn’t happened since 1984.
The broad decline, revealed in a Labor Department report Wednesday, offers the latest sign the labor market recovery kicked into a higher gear in 2014. The declines varied broadly.
Unemployment fell the most in Illinois, where the rate dropped 2 percentage points from the prior year to an average 7.1%. The rate declined by 1.8 points in Colorado, North Carolina and Ohio.
North Dakota, at the center of the nation’s energy boom of the past few years, had the lowest jobless rate of any state at 2.8% last year.
Unemployment across the entire U.S. fell 1.2 points to 6.2% last year.
The verdict is in on Kenyan Socialism, and it appears to work pretty damn well.
The stock market is so hot that it just corrected a bit on fears that the Fed will ease up on the cheap money.
Or, as the New York Daily News puts it:
You would think a Reagan Republican has occupied the White House for the last four-plus years, considering how fat and happy stock market investors and corporate America have grown.
And, stating the obvious:
Mitt Romney could scarcely have achieved better results had he been President and set out to minister to the needs of CEOs. Hurray — the Dow has doubled since hitting bottom in 2009, a couple of months into Barack Obama’s first term.
Meanwhile, Jared Bernstein explains that while wage growth is still anemic, people’s increased purchasing power is being driven by even weaker inflation and an increase in weekly hours.
As we know, the linchpin of Kenyan Socialism is Obamacare, which was supposed to blow up the deficit leading to Weimar-level inflation and to kill the 40 hour workweek.
We’ve gone a solid year now, adding at least 200,000 jobs a month every month. In February, we added almost 300,000 jobs.
I know you will find things to complain about. Those things will not be what the Republicans predicted you would complain about. Most of the things you will complain about are things that the Republicans prevented the Kenyan Socialist from addressing. The rest are things Republican governors like Scott Walker did that caused their states to dramatically underperform their neighbors.
So, stop grumping and admit it.
Whether you’re a Wall Street executive or an out of work schlub, Kenyan Socialism rocks.