Jim @McTagueJim: China has been waging an underhanded war against the US; a computer co is even putting spy chips into US tech. China also is shipping illegal opioids into the country. It will be hurt in the long run because of its militancy.

Oct 06, 03:00 AM

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Jim McTague (@Mctaguej), Barron’s Washington, and author, Murder and Mayhem on Capitol Hill; speaking of today’s 3.7% unemployment report – best since 1969. Fab news for Main Street; not so for Wall Street. Job gains in many sectors; losses in retail, although it’s added 25,000 jobs in a few years and there are plenty of open positions (at slave wages). Public busses in Alexandria, Va,, desperately need bus drivers – related to stricter border controls; we need more workers. Fast-food firms are offering free college tuition and all sorts of perks. It's an employees’s market right now. The Fed thinks this economy will continue: no recession in sight. Wall St investors are happy, but it ain’t good for the market. Money is going into CDs and bonds. As cash goes into CDs, that increases our savings, and that’ll be great for the banks.

US growing at 4%-plus, Europeans not so, and China negative. China will be hurt in the long run because of its militancy. China has been waging an underhanded war against the US (computer company putting spy chips into US tech, e.g.,) so US mfrg going into Cambodia, inter al. China is also shipping illegal opioids into the country. Shorter-term pain, but in the long run we’ll prevail.