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The Ben Shapiro Show

Ep. 855 - Can Democrats Scold Their Way To Glory?

The Ben Shapiro Show

The Daily Wire

News, News Commentary

4.4152.4K Ratings

🗓️ 6 September 2019

⏱️ 55 minutes

🧾️ Download transcript

Summary

Democrats say Americans are the problem – so vote Democrat! Meanwhile, President Trump clings to his story about Hurricane Dorian’s storm path, and a new study investigates the collapse of marriage. Date: 09-06-2019 Learn more about your ad choices. Visit podcastchoices.com/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

We examine the brand new economic report. Democrats say Americans are the problem, so vote Democrat.

0:05.4

And President Trump clings to his story about Hurricane Dorian and plays with Sharpies.

0:09.7

I'm Ben Shapiro. This is The Ben Shapiro Show.

0:16.8

All righty, we have a lot to get to today. There is a new study out about the collapse of marriage, and it suggests that economics has something to do with that. I think economics does have something to do with it, but I think the problem goes a lot deeper. We'll get to that a little bit later on in the show. We will also be getting to President Trump's bizarre fixation with how correct he was about the storm path of a storm that didn't go anywhere remotely near

0:38.3

where he said it was going to go. Who cares? Why are we still on this? Well, because the president

0:43.3

doesn't let those sorts of things go. We'll get to all that in just one second. First, we begin

0:47.0

with the August jobs report. So according to the New York Times, the United States added

0:50.7

130,000 jobs in August. The unemployment rate remains at 3.7%, meaning that the

0:55.4

economy remains strong. The figures show that the economy continues to add jobs, despite the trade

1:00.4

war and a global showdown. What we are seeing is a trend line that looks like it is headed down since the

1:05.4

beginning of 2019 in terms of job growth. We've had a couple of very bad months. We had February,

1:09.4

which is a very bad month. And then we had a couple of months later. It looks like May was a very bad month. We've had some okay months mixed in, but overall, it looks as though the economy is slowing. Now, it doesn't mean recession is around the corner. It does mean that the economy is going to be slower. It looks like headed into 2020, which of course is not great news for President Trump. According to the New York Times, the American economy turned in a decent performance last month as businesses grew more cautious about hiring, according to the Labor Department's monthly employment report released on Friday. About 25,000 of the jobs added were temporary position for the 2020 census. So when you remove those jobs, then the job growth looks even slower. Now, does this mean we are in economic spiral that doom is upon us? No, it means that a lot of people have a lot of trepidation about the future of the economy, and they're not doing a lot of long-term hiring right now in the expectation that sometime in 2020, 2021, we may see an economic downturn. And that's not a surprise

2:01.6

because we've been seeing those indicators systemically coming from China, coming from Europe for

2:05.3

several months at this point. Along with consumer spending, the labor market has been a source of

2:09.3

stability for the economy, even as several gauges have turned downward and trade anxieties

2:13.4

have mounted. But in August, the private sector added 96,000 jobs, weaker than the pace so far in

2:18.0

2019, and an indication that businesses are becoming a little more reluctant to add headcount.

2:22.6

The report also revised down job gains for June and July by a total of 20,000, which, you know,

2:27.3

going back and having to revise down numbers is never great. Paul Ashworth is the chief

2:30.6

U.S. economist at Capital Economics. He said the headline number in August was

2:35.0

flattered by the big increase in census hiring. He says even allowing for that, there's been a clear

2:39.3

slowdown in trend employment growth with the three-month and six-month averages, both at around

...

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