{"id":11910,"date":"2019-07-24T08:31:01","date_gmt":"2019-07-24T15:31:01","guid":{"rendered":"http:\/\/victorhanson.com\/wordpress\/?p=11910"},"modified":"2019-07-24T08:31:10","modified_gmt":"2019-07-24T15:31:10","slug":"the-economy-father-of-us-all","status":"publish","type":"post","link":"https:\/\/victorhanson.com\/wordpress\/the-economy-father-of-us-all\/","title":{"rendered":"The Economy, Father of Us All"},"content":{"rendered":"\n<p>Victor Davis Hanson \/\/ Nationals Review<\/p>\n\n\n\n<p>Each week we are warned of a recession. And each week the economic news \u201cunexpectedly\u201d and \u201csurprisingly\u201d improves or stays steady \u2014 in ways well aside from the staples of continued near-record-low peacetime unemployment (3.8 percent), near-record-low minority unemployment, booming annualized GDP (3.1 percent), and a record-high stock market.<\/p>\n\n\n\n<p>In June, retail sales increased for the fourth straight month. The rate of Hispanic home ownership continues to increase. A quarter-million new jobs were created in June, with strong growth in construction and manufacturing. Record oil and gas production seems only to keep increasing. Strong wage growth of 3.4 percent continues.<\/p>\n\n\n\n<p>The point is not so much \u201cIt\u2019s the economy, stupid,\u201d but rather that the economy is the font of all contemporary politics, and it adjudicates the parameters of presidential prerogatives.<\/p>\n\n\n\n<p>In the standoff between the \u201cSquad\u201d and Donald Trump, near-record peacetime unemployment in general and in particular historic-low minority unemployment argue against the idea that Trump is racist.<\/p>\n\n\n\n<p>Polls suggest that Donald Trump may well win a greater share of the minority vote than moderates John McCain and Mitt Romney \u2014 largely because of a raise in middle-class wages in a tight labor market, and new leverage of entry-level workers over labor-hungry employers. Do working-class blacks and Hispanics suffer then from false consciousness, and do they need tutorials from progressive grandees so they won\u2019t be so incorrect as to appreciate having more jobs at better pay? &nbsp;Racists do not craft economic policies that empower African Americans far more so than those promoted by the first African-American president.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.nationalreview.com\/2019\/07\/the-economy-father-of-us-all\/\">Read the full article here. <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Victor Davis Hanson \/\/ Nationals Review Each week we are warned of a recession. And each week the economic news \u201cunexpectedly\u201d and \u201csurprisingly\u201d improves or stays steady \u2014 in ways well aside from the staples of continued near-record-low peacetime unemployment (3.8 percent), near-record-low minority unemployment, booming annualized GDP (3.1 percent), and a record-high stock market. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p466Sb-366","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":11545,"url":"https:\/\/victorhanson.com\/wordpress\/is-there-a-51-percent-solution-for-trump\/","url_meta":{"origin":11910,"position":0},"title":"Is There a 51 Percent Solution for Trump?","author":"victorhanson","date":"November 29, 2018","format":false,"excerpt":"Victor Davis Hanson \/\/\u00a0 American Greatness President Trump\u2019s challenges are not really his economic policies and foreign affairs agendas. For the most part, they are supported by the American people and are resulting in prosperity at home and security abroad. The economy continues to deliver near-record-low unemployment, wage gains, strong\u2026","rel":"","context":"In &quot;Donald Trump&quot;","block_context":{"text":"Donald Trump","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/donald-trump\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12218,"url":"https:\/\/victorhanson.com\/wordpress\/trumps-chances-for-reelection-are-looking-better-and-better\/","url_meta":{"origin":11910,"position":1},"title":"Trump\u2019s Chances for Reelection Are Looking Better and Better","author":"victorhanson","date":"February 27, 2020","format":false,"excerpt":"Victor Davis Hanson \/\/ National Review Donald Trump\u00a0has at least five strong historical arguments for his reelection. One, he is an incumbent. Incumbent presidents have won 14 of 19 reelection bids since 1900. The few who lost did not enjoy positive approval ratings. In a Gallup poll from earlier this\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11316,"url":"https:\/\/victorhanson.com\/wordpress\/the-american-art-of-renewal\/","url_meta":{"origin":11910,"position":2},"title":"The American Art of Renewal","author":"victorhanson","date":"August 2, 2018","format":false,"excerpt":"Victor Davis Hanson \/\/ National Review \u2018Make America Great Again\u201d is the oft-caricatured slogan of the Donald Trump presidency. When Trump was elected, he boasted of jump-starting the economy to achieve an annual economic growth rate of 4 percent. Experts laughed him off as a na\u00eff who did not understand\u2026","rel":"","context":"In &quot;Donald Trump&quot;","block_context":{"text":"Donald Trump","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/donald-trump\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115,"url":"https:\/\/victorhanson.com\/wordpress\/when-big-deficits-became-good\/","url_meta":{"origin":11910,"position":3},"title":"When Big Deficits Became Good","author":"victorhanson","date":"January 16, 2013","format":false,"excerpt":"by Victor Davis Hanson Tribune Media Services As a senator and presidential candidate, Barack Obama said that he detested budget deficits. In 2006, when the aggregate national debt was almost $8 trillion less than today, he blasted George W. Bush's chronic borrowing and refused to vote for upping the debt\u2026","rel":"","context":"In &quot;Debt and Deficits&quot;","block_context":{"text":"Debt and Deficits","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/politics\/debt-and-deficits\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9047,"url":"https:\/\/victorhanson.com\/wordpress\/in-search-of-fixes-for-a-fossilized-economy\/","url_meta":{"origin":11910,"position":4},"title":"In Search of Fixes for a Fossilized Economy","author":"victorhanson","date":"February 11, 2016","format":false,"excerpt":"Victor Davis Hanson \/\/ Tribune Media Services The U.S. economy grew at an anemic rate of less than 1 percent in the last quarter of 2015. While the unemployment rate has dipped below 5 percent, the all-important labor force participation rate is at a historic low of just 62.7 percent.\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":742,"url":"https:\/\/victorhanson.com\/wordpress\/the-face-of-things-to-come\/","url_meta":{"origin":11910,"position":5},"title":"The Face of Things to Come","author":"victorhanson","date":"February 20, 2013","format":false,"excerpt":"by Victor Davis Hanson NRO's\u00a0The Corner Campaign Rhetoric The campaign contour is pretty clear: The Obama reelection team will not make the case for the advantages and popularity of Obamacare, for the Chuian advantages of $4-a-gallon gas, for the dynamism of a 1.7 percent GDP growth rate, for the stimulatory\u2026","rel":"","context":"In &quot;Election 2012&quot;","block_context":{"text":"Election 2012","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/obama-administration\/election-2012\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts\/11910"}],"collection":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/comments?post=11910"}],"version-history":[{"count":1,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts\/11910\/revisions"}],"predecessor-version":[{"id":11911,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts\/11910\/revisions\/11911"}],"wp:attachment":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/media?parent=11910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/categories?post=11910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/tags?post=11910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}