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Notices tagged with econusa
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https://nu.federati.net/url/289336 [www economist com] !econusa
The #FTC plans to attack employee non-compete clauses. Better late than never, but they really should have pursued these 30+ years ago.
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Someone concludes that price inflation is likely to stay North of 5% for the foreseeable future. Reasoning here: https://nostr.build/i/3052i.jpg !econusa
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From 2021 and surely has much of its interpretation of future events wrong, but still not something to discard without thought and examination. https://modernsurvivalblog.com/systemic-risk/the-greatest-depression-is-coming/ [modernsurvivalblog com] !econusa
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https://www.businessinsider.com/jp-morgan-to-acquire-1-billion-of-single-family-rentals-2022-11 [www businessinsider com]
Housing prices are already way too high. Why is a regulated financial organization like JP Morgan Chase being allowed to fsck us? !econusa
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The "Yard Sale":{https://pudding.cool/2022/12/yard-sale/} model is a generalized #economic model that helps to explain the emergence of super-rich people in the economy as something that can happen by pure chance if the system does not redistribute enough wealth (not just income!).
Why not just income? Because a lot of wealth comes about by purchasing some appreciating asset and then holding it while its value increases. The value of shares in $CORPORATION may rise even if it doesn't pay out dividends (e.g., no income to the shareholders), who may not sell for decades. In the meantime, the stock's selling price times the number of shares held gives a wealth value that can be borrowed against, despite the shareholder(s) not having received that value as income. In the simulations on the site, income would be the funds gained from interacting / gambling / trading with others, but wealth would be the amount stored in each person's wallet.
> Currently in the US, the wealthiest 20% of families own about 70% of wealth. But this doesn't capture the true wealth disparity in the US: If the US population was represented by 1,000 people in a room, the richest one person would have four times more money than the poorest 500 people.
* https://pudding.cool/2022/12/yard-sale/
* https://www.cbo.gov/system/files/2022-09/57598-family-wealth.pdf [www cbo gov]
* https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/
* https://www.vox.com/policy-and-politics/2019/11/4/20938229/zucman-saez-tax-rates-top-400
* https://www.sciencedirect.com/science/article/pii/S037843711730081X
> Americans pay a lot of taxes, and the rich are usually taxed more than the poor. And for the most part, that money is used for government programs that usually help the poor more than the rich.
I disagree there. For example, when there's a "public benefit" project, your city / county / state doesn't knock down the mini-mansions in the rich part of town, they knock down homes and apartments in the lower-income areas. A big part of government spending goes into activities that stimulate selected business organizations, which are rarely owned by lower-income people or minorities. Even things like the Affordable Care Act wind up lining the pockets of big insurance companies and leaving lower-income people paying for care out-of-pocket because of insurance denials.
More references are at the bottom of the article. I think I'm going to try to read more about this topic.
!econusa
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Please, Congresscritters, Federal Reserve Chairperson Jerome Powell needs to resign or be fired. https://news.yahoo.com/powell-puts-us-pay-hikes-150000366.html [news yahoo com]
> In his press conference after that decision on Wednesday, Powell returned to the theme. Right now, he said, wages are growing βwell above what would be consistent with 2% inflation.β
> The pivotal question for Fed officials is whether the climb in US pay over the past 18 months or so is a one-time bump β as companies adjust to scarce labor supply, and a realization that their workforce was under-compensated β or a pernicious feedback loop in which prices and wages drive each other up.
He still doesn't seem to understand how shortages of products caused by offshoring and just-in-time inventories (e.g., management-by-fad) and the housing price spiral are huge parts of recent price inflation ... or how wages rose less than prices for decades and are only recently starting to respond. He has spent all of this year talking about how employees need to be punished. His goal appears to be that people will be willing accept a minimum wage job at Gree-C Burger and living in pup tents underneath nearby bridges.
Nor do he or Janet Yellen accept responsibility for their roles in rapidly expanding the money supply, providing the underlying inflation that allows the price inflation to proceed.
For these and other reasons, Mr Powell needs to be removed from office before he can hurt Americans even more than he already has.
!econusa
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US cities with largest drop in home sales 2022 vs 2021: https://constructioncoverage.com/research/cities-with-largest-drop-in-home-sales-2022 [constructioncoverage com]
!econusa
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https://nu.federati.net/url/287937 [fortune com]
US economy may feel even higher inflation, says Carl Icahn. !econusa
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https://news.yahoo.com/us-makes-major-interest-rate-180847429.html [news yahoo com]
As expected, the Federal Reserve raised interst rates by 3/4 of a percentage point to try to tame #inflation. !econusa
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https://www.bls.gov/news.release/realer.nr0.htm
Price inflation is +9.1% year over year, but wage inlation is -4.4% over the same period.
!econusa
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More on the #Fed rate hike. https://www.usatoday.com/story/money/2022/06/15/fed-interest-rates-hike/7631195001/ [www usatoday com]
!econusa
I think Powell's misanalysis of the causes of the current inflation spike may very likely cause the Federal Reserve's #FOMC (Federal Open Market Committee) to raise rates too much and too late, tipping the economy into recession.
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https://bitcoinhackers.org/@2big2fail/108079404655334158
#US_history !econusa #gold_standard #federal_reserve #fed
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This guy next to me is listening to a #Trump interview about #RU_vs_UA and the economy.
I know that Trump produced better economic !econusa results for Black and Hispanic Americans than any previous president, but I think it was mostly accidental. I don't pretend that putting him back in office would produce similar results.
I am really not used to hearing this sort of stuff at work. These last few days in #NYC could get a little rough.
And please, please, #twin_parties, let us not have a rematch of the 2016 election. Let both of those candidates go home and walk on the beach, pondering where they went wrong.
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@clacke Smaller studies in localized areas suggest the same thing.
Also anecdotes, such as the shopping mall that overlapped two cities' mutual boundary. When one city raised its minwage, shops in their side of the mall were besieged with applications from people working in the other side. Some employers on the low-wage side ended up matching the high-wage side's pay scale in order to keep employees.
And this was before coronavirus, so government unemployment subsidies were not the cause. !econusa
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US Census Bureau: Celebrate "Manufacturing Day":{https://www.census.gov/mfgday} ... this page links major census numbers about manufacturing and its impact on the economy.
!smallbiz #business !econusa
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https://www.nytimes.com/2020/06/17/upshot/coronavirus-spending-rich-poor.html [www nytimes com]
Richest Americans cut spending the most, causing a trickle-down meltdown that hurt the working poor.
#COVID-19 | #2019-nCoV | #SARS-CoV-2 | #coronavirus | !econusa
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https://nu.federati.net/url/270673
#Census data shows impact of #COVID-19 and shutdowns on #Smallbiz. !econusa
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!econusa Economic recovery may be slowed if #COVID-19 measures implemented unevenly. https://nu.federati.net/url/270574 [www marketwatch com]
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2.5 million jobs added in May, #unemployment rate falls. https://nu.federati.net/url/270260 [www wgrz com]
This was contrary to what most economists expected. !econusa
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California retailers to be allowed to reopen https://abc7.com/business/california-to-allow-shopping-at-retail-stores-to-resume/6210809/ [abc7 com]
#COVID-19 | #2019-nCoV | #SARS-CoV-2 | #coronavirus disease 2019
!econusa