5461

5462

The full wrath of the Ottoman Empire.

5463

Nice.

5464

Not sure if this is best here or in the income inequality thread, but more bad news on wages and inflation.

5465

Could some of this be a composition effect? Like a lot of low-wage retail, restaurant and hospitality jobs that weren’t around this time last year bring down the average?

Hard to square a general worker shortage with decreases in real wages.

5466

I haven’t gone through the data tables yet and don’t have a clear idea on why hourly earnings and time worked are both declining, but the results are not good by themselves, and worse when considering rising prices.

Looks like this is already having an impact on spending legislation.

The Biden administration has faced unexpectedly strong political head winds by the continued rise in inflation. Polling suggests voters are frustrated over rising prices, and Sen. Joe Manchin III (D-W.Va.) has pointed at rising inflation as a reason to pause on some parts of the White House’s agenda.

“By all accounts, the threat posed by record inflation to the American people is not ‘transitory’ and is instead getting worse,” Manchin said in a statement on Wednesday. “From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.”

https://www.washingtonpost.com/us-policy/2021/11/10/inflation-white-house-manchin/

5467

Yeah, I’m curious about the whole situation. Is it the economy roaring back after demand was depressed for the last 18 months? Is it the impact of all the stimulus giving consumers more money to spend? Are the issues in various supply chains causing it? Is it businesses taking advantage of the situation and raising prices just to make more money?

5468

“Inflation has suddenly made Manchin skeptical of a large spending bill” is an amazing take given what’s been happening for most of the last 6 months.

5469

He’s gonna vote against the BBB. Lucy pulled the football again, nobody could have predicted.

5470

Which would be bizarre, given that the whole point of the BBB is to alleviate the economic hardship of those same struggling Americans by giving them money to help overcome it. It’s almost like there is no connection between events and positions at all.

5471

What sense does it make to give someone $1000 when milk prices are going to rise to $1000/gallon by doing it?! Wake up, sheeple!

5472

5474

This is why if we all had cows, milk would be free!

5476

Heh, I saw that.

5477

😬

(Caught. Oops :P)

5478

Still a lot of support for BBB agenda.

5479

Yes, but I think we need to give greater weighting to the opinions of coal mining corporations - Joe Manchin probably.

5480

Imagine having this reaction:

I mean, of course you’re going to vote against it and denounce it, but calling attention to what’s actually in it? This…wildly popular stuff? It says you know your constituents don’t actually give a fuck what’s in it, and all the opposition is just about team support dynamics.

5481

In his defense, a significant portion of the majority in favor of those things will tend to be clustered together, so the US electoral system fucks them over in favor of what is, by comparison, empty land. It’s not as clear-cut an own goal as you suggest.

See also, Dying of Whiteness.

In addition to how the media handles Democratic politicians and policies, this is an issue those QT3 members who are all vote harder and/or message better have yet to probably grapple with.

5482

We can solve world hunger for $6B? Let’s get on it!