The US Economy Catch-All Thread

Hey, why not? I figured there’s plenty of economy discussion to be had that isn’t necessarily tied to corrupt GOP practices or Trump or the caliphate of North Carolina.

Is this what winning feels like?

The report from the Commerce Department on Friday also showed inflation pressures remaining tame, which together with slowing domestic and global economic growth gave more credence to the Federal Reserve’s “patient” stance towards raising interest rates further this year.

Personal income slipped 0.1 percent in January, the first decline since November 2015, after jumping 1.0 percent in December. Income was weighed down by decreases in dividend, farm proprietors’ and interest income. Wages increased by a moderate 0.3 percent in January after rising 0.5 percent in December.

Economists polled by Reuters had forecast incomes rising 0.3 percent in January.

Well, this could be interesting, but I mostly think it’s just to boost the economy while Trump is in office, and then it will be business as usual once a Dem is in office (kind of like how that’s the only time the Deficit matters):


But there is this…

After the tax scam bill passed, analysts said it would create a short term stimulus, after which the economy would slow down. That appears to be happening.

Last week at some point, we were talking about how automation was the end of human existence. Interestingly enough, John Oliver did a bit on this.

I dunno if we have a labor Union thread, so this is going here.

Basically, SEIU is a huge Union, and is totally riddled with scandals. Some dude on a blog keeps exposing them, so now they are trying to subpoena Google to expose the whistleblower.

Not just analysts, but anyone who ever took a Macroeconomics course or even has a rudimentary understanding.

I guess it’s true - America runs on Dunkin’.

No, really, tell us what you actually think!

In the years since, I have continued following his career, and he has shown no intellectual growth at all. He is capable of writing entire columns that contain no true facts at all. He made so many factual errors he achieved the rare feat of being banned from the pages of a Midwestern newspaper. He has sold his policy elixir to state governments which have promptly experienced massive fiscal crises as a direct result of listening to him. He believes what he calls “the heroes of the economy: the entrepreneur, the risk-taker, the one who innovates and creates the things we want to buy” should be lionized, and that the idea that a recession might be caused by anything other than excessively high rates on these heroes defies “common sense.” He was pulled into Trump’s orbit during the 2016 campaign and co-wrote a ludicrous hagiography of Trump and his agenda. By all appearances, Moore opposes mainstream fiscal theories because he simply doesn’t understand them


Yeah, Moore is an unbelievable hack. Not an ounce of intellectual integrity, and very little sign of actual intellect.

Holy shit, moore? That guy has demonstrated on numerous occasions that he doesn’t have even a basic grasp of economics.

That seems to be the requirement for every appointment/nomination in this administration. And I’m not even joking.

Well, considering the chuds touted Trump’s complete lack of government experience as a plus, they should be thrilled with this decision.

Well, everyone Trump hires can’t be smarter than he is. So…

CBO projections of the impact of raising the federal minimum wage.

  • 17 million U.S. workers who would otherwise make less than $15 would get a raise. Another 10 million Americans “otherwise earning slightly more” than $15 an hour may also see a wage hike, according to the CBO.
  • The pay increases would take the annual income of 1.3 million people above the poverty level.
  • It would result in 1.3 million more jobless Americans, according to the CBO. Both Scott and Heidi Shierholz — chief economist at the Labor Department during part of the Obama administration — argued the CBO’s methods in assessing job losses were flawed. Shierholz said she believes the CBO “substantially overstates the costs” of hiking the minimum wage.
  • Hiking the pay floor would “reduce business income and raise prices” as companies pass on higher labor costs to consumers, the CBO said. It would also “reduce the nation’s output slightly” a decline in capital such as buildings and machines, the nonpartisan agency said.
  • The wage increases would cause total real family income — adjusted for inflation — to fall by 0.1%.
  • The CBO also assessed the potential effects of raising the minimum wage to both $12 and $10 per hour by 2025. Both hikes would have similar, but more muted, effects on wages and employment.

A look at the left-behind economy:

this dovetails quite a bit into a previous discussion in this thread or others about remote working and jobs. Even if many high paying jobs can be remotely performed from non-tech hubs, the jobs and employees and talent still concentrate themselves.