Updates tagged with econusa on Arkwood Pond Social!
lnxw48a1: 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.
lnxw48a1's status on Monday, 16-Jan-2023 21:01:41 UTC
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.
lnxw48a1: 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
lnxw48a1's status on Tuesday, 10-Jan-2023 01:18:39 UTC
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
lnxw48a1: 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
lnxw48a1's status on Saturday, 07-Jan-2023 02:26:00 UTC
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
lnxw48a1: 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
lnxw48a1's status on Saturday, 31-Dec-2022 19:37:57 UTC
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
lnxw48a1: 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
lnxw48a1's status on Thursday, 29-Dec-2022 23:49:11 UTC
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
lnxw48a1: 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 “well above what would be consistent with 2% inflation.” > 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 — as companies adjust to scarce labor supply, and a realization that their workforce was under-compensated — 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
lnxw48a1's status on Monday, 19-Dec-2022 22:55:07 UTC
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 “well above what would be consistent with 2% inflation.” > 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 — as companies adjust to scarce labor supply, and a realization that their workforce was under-compensated — 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
lnxw48a1: 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
lnxw48a1's status on Wednesday, 14-Dec-2022 06:28:10 UTC
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
lnxw48a1: https://nu.federati.net/url/287937 [fortune com] US economy may feel even higher inflation, says Carl Icahn. !econusa
lnxw48a1's status on Sunday, 25-Sep-2022 20:20:14 UTC
https://nu.federati.net/url/287937 [fortune com] US economy may feel even higher inflation, says Carl Icahn. !econusa
lnxw48a1: 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
lnxw48a1's status on Wednesday, 27-Jul-2022 19:26:17 UTC
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
lnxw48a1: 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
lnxw48a1's status on Wednesday, 13-Jul-2022 18:35:36 UTC
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
lnxw48a1: 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.
lnxw48a1's status on Wednesday, 15-Jun-2022 19:42:11 UTC
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.
lnxw48a1: https://bitcoinhackers.org/@2big2fail/108079404655334158 #US_history !econusa #gold_standard #federal_reserve #fed
lnxw48a1's status on Tuesday, 05-Apr-2022 12:54:33 UTC
https://bitcoinhackers.org/@2big2fail/108079404655334158 #US_history !econusa #gold_standard #federal_reserve #fed
lnxw48a1: 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.
lnxw48a1's status on Thursday, 03-Mar-2022 14:26:10 UTC
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.
lnxw48a1: @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
lnxw48a1's status on Monday, 18-Oct-2021 16:35:37 UTC
@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
lnxw48a1: 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
lnxw48a1's status on Monday, 27-Sep-2021 17:38:08 UTC
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
lnxw48a1: 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
lnxw48a1's status on Friday, 17-Jul-2020 21:55:37 UTC
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
lnxw48a1: https://nu.federati.net/url/270673 #Census data shows impact of #COVID-19 and shutdowns on #Smallbiz. !econusa
lnxw48a1's status on Wednesday, 17-Jun-2020 16:58:22 UTC
https://nu.federati.net/url/270673 #Census data shows impact of #COVID-19 and shutdowns on #Smallbiz. !econusa
lnxw48a1: !econusa Economic recovery may be slowed if #COVID-19 measures implemented unevenly. https://nu.federati.net/url/270574 [www marketwatch com]
lnxw48a1's status on Sunday, 14-Jun-2020 23:40:02 UTC
!econusa Economic recovery may be slowed if #COVID-19 measures implemented unevenly. https://nu.federati.net/url/270574 [www marketwatch com]
lnxw48a1: 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
lnxw48a1's status on Friday, 05-Jun-2020 20:37:05 UTC
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
lnxw48a1: 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
lnxw48a1's status on Monday, 25-May-2020 23:30:10 UTC
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
lnxw48a1: Okay, that was definitely worth reading. Adding the !econusa bangtag, so anyone interested in the US economy (group members) can see it.https://themargins.substack.com/p/doordash-and-pizza-arbitrage
lnxw48a1's status on Monday, 18-May-2020 05:25:08 UTC
Okay, that was definitely worth reading. Adding the !econusa bangtag, so anyone interested in the US economy (group members) can see it. https://themargins.substack.com/p/doordash-and-pizza-arbitrage
lnxw48a1: https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act !econusa The Smoot-Hawley Tariff Act of 1930 is widely believed to have worsened and lengthened the Great Depression.
lnxw48a1's status on Saturday, 25-Apr-2020 18:56:07 UTC
https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act !econusa The Smoot-Hawley Tariff Act of 1930 is widely believed to have worsened and lengthened the Great Depression.
lnxw48a1: @bthall@bikeshed.party sent me this: https://nitter.net/DorsaAmir/status/1246077693889851392#m !econusa
lnxw48a1's status on Saturday, 04-Apr-2020 18:07:38 UTC
@bthall@bikeshed.party sent me this: https://nitter.net/DorsaAmir/status/1246077693889851392#m !econusa
lnxw48a1: Economic rationale for strong action against #COVID-19 https://www.statnews.com/2020/03/18/economic-rationale-strong-action-now-against-coronavirus/ [www statnews com] #EconUSA #2019-nCoV #SARS-CoV-2 #coronavirus
lnxw48a1's status on Sunday, 22-Mar-2020 07:58:55 UTC
Economic rationale for strong action against #COVID-19 https://www.statnews.com/2020/03/18/economic-rationale-strong-action-now-against-coronavirus/ [www statnews com] #EconUSA #2019-nCoV #SARS-CoV-2 #coronavirus
lnxw48a1: https://www.politico.com/story/2018/12/03/this-day-in-politics-december-3-1027800 [politico] The breakup of Standard Oil was an event of historic national significance. I wish today's #pollies would grapple with big corporations and their lawyers and lobbyists to bust up some monopolies, oligopolies, monopsonies, oligopsonies. I think the US economy would benefit. !econusa
lnxw48a1's status on Tuesday, 18-Feb-2020 23:06:11 UTC
https://www.politico.com/story/2018/12/03/this-day-in-politics-december-3-1027800 [politico] The breakup of Standard Oil was an event of historic national significance. I wish today's #pollies would grapple with big corporations and their lawyers and lobbyists to bust up some monopolies, oligopolies, monopsonies, oligopsonies. I think the US economy would benefit. !econusa
lnxw48a1: @1iceloops123 > i don’t want to work for money either Working in order to take care of yourself and supply the things you need is a good thing. Economists tell us that people’s wants are unlimited, but the resources to fulfill those wants are not. The issues in the US are mostly related to pay scales not keeping up with living costs. In 1980, minimum wage was around $3/hour, the median income was almost $18,000/year, and a new home cost about $75,000. Now, federal minimum wage is still only $7.25/hour, the median income is about $65,000/year, and the average home costs almost $245,000. And of course, certain corporate leaders are paid at rates so high that they make no sense at all.http://www.1980sflashback.com/1980/economy.asp https://www.zillow.com/home-values/ https://www2.census.gov/programs-surveys/demo/tables/p60/266/tableA1.xls !econusa
lnxw48a1's status on Monday, 06-Jan-2020 17:42:08 UTC
@1iceloops123 > i don’t want to work for money either Working in order to take care of yourself and supply the things you need is a good thing. Economists tell us that people’s wants are unlimited, but the resources to fulfill those wants are not. The issues in the US are mostly related to pay scales not keeping up with living costs. In 1980, minimum wage was around $3/hour, the median income was almost $18,000/year, and a new home cost about $75,000. Now, federal minimum wage is still only $7.25/hour, the median income is about $65,000/year, and the average home costs almost $245,000. And of course, certain corporate leaders are paid at rates so high that they make no sense at all. http://www.1980sflashback.com/1980/economy.asp https://www.zillow.com/home-values/ https://www2.census.gov/programs-surveys/demo/tables/p60/266/tableA1.xls !econusa
lnxw48a1: US Census Bureau: US median household income was $63,179 in 2018, little changed from 2017. https://nu.federati.net/url/245367 #econusa #census
lnxw48a1's status on Wednesday, 11-Sep-2019 02:25:45 UTC
US Census Bureau: US median household income was $63,179 in 2018, little changed from 2017. https://nu.federati.net/url/245367 #econusa #census