US ECONOMY News and Discussion Thread

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Re: US ECONOMY News and Discussion Thread

Postby HamBone » Thu Jun 14, 2018 6:02 am

If California wants a reliable water supply it should work on desalination plants...instead of the “bullet” train that is going to cost them at least $98.1B and will be about as fast as a regular train.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Thu Jun 14, 2018 11:24 am

Image


#mercka
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Jun 14, 2018 11:38 am

HamBone wrote:If California wants a reliable water supply it should work on desalination plants...instead of the “bullet” train that is going to cost them at least $98.1B and will be about as fast as a regular train.



#progress

That thing has been a shitshow from day 1.
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Thu Jun 14, 2018 11:45 am

RedLeader wrote:Image


#mercka

So our real GDP growth dropped this quarter?
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Jun 14, 2018 11:49 am

bucfanclw wrote:
RedLeader wrote:Image


#mercka

So our real GDP growth dropped this quarter?

It was revised down a little while ago when I wrote this....

Mountaineer Buc wrote:The addition of seasonal workers always tends to tighten up the unemployment figures which is always good.

Median wages up 2.7% is also good.

As of April, the CPI is up 2.1% year on year, so median wages are outpacing inflation by less than 1%. Not so good.

1Q GDP was revised down to +2.2% and projections for 2Q 2018 are +3% for an average GDP growth of 2.6%

To summarize:
2018 Inflation adjusted wage growth +0.6%
2018 projected GDP growth outpacing inflation adjusted wage growth by 2%
Bottom 50% of wage earners receiving 23% or less of all economic growth.
Inflation adjusted federal minimum wage is $6.25 per hour.


Roughly 40% of Americans cannot afford a $1,000 emergency. 27 million Americans are working part time.
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Re: US ECONOMY News and Discussion Thread

Postby Deuce » Thu Jun 14, 2018 11:58 am

HamBone wrote:If California wants a reliable water supply it should work on desalination plants...instead of the “bullet” train that is going to cost them at least $98.1B and will be about as fast as a regular train.


Perfect solution. We all know the ocean is rising, so if we suck up a lot of that water and use it, we can offset global warming. I'll vote you for governor or president or something, whatever you want.


/blue just in case
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Jun 14, 2018 12:10 pm

Mountaineer Buc wrote:
27 million Americans are working part time.



The ratio of full time jobs compared to part time jobs has increased rapidly the last few years. It is at its highest in 15 years and getting exponentially better.

The ratio of new jobs that are full time to new jobs that are part time is at its highest in over 30 years.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Jun 14, 2018 1:17 pm

Zarniwoop wrote:
Mountaineer Buc wrote:
27 million Americans are working part time.



The ratio of full time jobs compared to part time jobs has increased rapidly the last few years. It is at its highest in 15 years and getting exponentially better.

The ratio of new jobs that are full time to new jobs that are part time is at its highest in over 30 years.

43% of Americans earn $25,000 per year or less. ($12 per hour full time)
70% of Americans earn $50,000 per year or less. ($24 per hour full time)

As good as these employment numbers and ratios are, there is still a substantial amount of the workforce that is under per capita GDP of $59,500.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Jun 14, 2018 1:38 pm

If those numbers include part time workers and I’m pretty sure they do they aren’t very telling of anything


If they don’t include part time workers can you link to them please? I could use them in one of my classes
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Jun 14, 2018 1:44 pm

Zarniwoop wrote:If those numbers include part time workers and I’m pretty sure they do they aren’t very telling of anything


If they don’t include part time workers can you link to them please? I could use them in one of my classes

That's based on the workforce in its entirety. I did the quick math to put it into a per hour figure, Sorry if that was misleading.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Jun 14, 2018 1:51 pm

Of course 43% of workers make less than 25K per year because the vast majority of those workers are part time. The 70% number suffers from the same manipulation. The vast majority of part time workers are part time by choice. I think the U6 number is under 10%
Last edited by Zarniwoop on Thu Jun 14, 2018 1:54 pm, edited 1 time in total.
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Re: US ECONOMY News and Discussion Thread

Postby Deuce » Thu Jun 14, 2018 1:53 pm

Zarniwoop wrote:Of course 43% of workers make less than 25K per year because the vast majority of those workers are part time. The 70% number suffers from the same manipulation. The vast majority of part time workers are part time by choice. I think the U9 number is under 10%


Is that true?
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Jun 14, 2018 1:54 pm

The best # we have to measure that is U6. It’s under 10%

This number included the unemployed and the number of part time workers who want full time
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Jun 14, 2018 2:53 pm

Zarniwoop wrote:Of course 43% of workers make less than 25K per year because the vast majority of those workers are part time. The 70% number suffers from the same manipulation. The vast majority of part time workers are part time by choice. I think the U6 number is under 10%

But the 27 million workers I cited as part time represent about 17% of the workforce.

EDIT: Confirmed 17% according to the BLS
https://www.bls.gov/cps/cpsaat08.htm

So we have 17% of the workforce working 35 hours or less leaving the remaining 82% (111.6 million people) at full time.

That brings me back to this.

43% of Americans earn $25,000 per year or less. ($12 per hour full time)
70% of Americans earn $50,000 per year or less. ($24 per hour full time)

Edit 2: Link for this premise.https://en.wikipedia.org/wiki/Personal_income_in_the_United_States#Income_distribution

If 82% of the workforce is working full time, roughly a quarter of them (about 27.9 million full time workers) are earning $25,000 per year or less.
Last edited by Mountaineer Buc on Thu Jun 14, 2018 4:13 pm, edited 3 times in total.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Jun 14, 2018 3:34 pm

so we have a combined 54.9 million workers....whether working full or part time....earning $25,000 per year or less.

Again. That is 43% of all people working.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Jun 14, 2018 3:42 pm

Shrinking middle class is not just a fancy talking point.

Only 27% of workers are earning between $25,000 and $50,000

That's about 34 million people.
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Re: US ECONOMY News and Discussion Thread

Postby HamBone » Fri Jun 15, 2018 10:10 am

Deuce wrote:
HamBone wrote:If California wants a reliable water supply it should work on desalination plants...instead of the “bullet” train that is going to cost them at least $98.1B and will be about as fast as a regular train.


Perfect solution. We all know the ocean is rising, so if we suck up a lot of that water and use it, we can offset global warming. I'll vote you for governor or president or something, whatever you want.


/blue just in case


Let 'em drink brawndo...
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Fri Jun 15, 2018 10:20 am

Don't believe those phony numbers when you hear 3.9 and 4 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Fri Jun 15, 2018 10:34 am

I don’t put a whole lot of stock in absolute precision of the Govt numbers as I’m sure they are off some ... but 40% unemployment is one of he most laughable things I have ever heard


Lolololololololololololol
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Re: US ECONOMY News and Discussion Thread

Postby PrimeMinister » Fri Jun 15, 2018 11:10 am

deltbucs wrote:Don't believe those phony numbers when you hear 3.9 and 4 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.


35% unemployment seems ridiculous.
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Fri Jun 15, 2018 11:29 am

Zarniwoop wrote:I don’t put a whole lot of stock in absolute precision of the Govt numbers as I’m sure they are off some ... but 40% unemployment is one of he most laughable things I have ever heard


Lolololololololololololol

Then you hear there's a 3.9 percent unemployment. It's really — if you add it up, it's probably 40 percent if you think about it.
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Fri Jun 15, 2018 11:31 am

The terrible jobs report that just came out … you can see phony numbers, 3.9 percent.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Fri Jun 15, 2018 11:34 am

PrimeMinister wrote:
deltbucs wrote:Don't believe those phony numbers when you hear 3.9 and 4 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.


35% unemployment seems ridiculous.



That number is impossible.

The labor participation rate that is calculated by a whole bunch of institutions (private and public) is around 63% now...and it has been about that # for the past 20 years (give or take a percent or two)

That number simply measures the proportion of working age adults that have jobs. It doesn't measure intent, discouragement or anything like that. Simply the # of working age adults with jobs / # of working age adults.

That means that 37% of working age adults are not employed. Now that number includes the tens of millions of retirees who don't want to work, it includes millions of late high school students and college students who don't want jobs, it includes millions of homemakers (man or woman) who don't want to work and instead raise a family, etc etc.


Whoever gave you the #'s that you heard is talking pure donkey twaddle
Last edited by Zarniwoop on Fri Jun 15, 2018 11:51 am, edited 3 times in total.
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Re: US ECONOMY News and Discussion Thread

Postby uscbucsfan » Fri Jun 15, 2018 11:35 am

deltbucs wrote:Don't believe those phony numbers when you hear 3.9 and 4 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.

On NPR they were joking that the 42% number that one person suggested included children.

It's illogical that actively searching unemployed is close to that high.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Fri Jun 15, 2018 11:35 am

I hear robot unemployment is still at 98%, though.



Sad.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Fri Jun 15, 2018 11:37 am

uscbucsfan wrote:
deltbucs wrote:Don't believe those phony numbers when you hear 3.9 and 4 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.

On NPR they were joking that the 42% number that one person suggested included children.

It's illogical that actively searching unemployed is close to that high.


Does it include pets too?




I know my dog could definitely use a job.
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Fri Jun 15, 2018 11:38 am

All that sounds like some folks are desperate to win back seats this November.
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Re: US ECONOMY News and Discussion Thread

Postby uscbucsfan » Fri Jun 15, 2018 11:48 am

deltbucs wrote:
Zarniwoop wrote:I don’t put a whole lot of stock in absolute precision of the Govt numbers as I’m sure they are off some ... but 40% unemployment is one of he most laughable things I have ever heard


Lolololololololololololol

Then you hear there's a 3.9 percent unemployment. It's really — if you add it up, it's probably 40 percent if you think about it.

I get it, now.

You can't just go quoting Trump without context. That's like walking into a bank and talking like mdb...

Touche btw
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Fri Jun 15, 2018 11:58 am

uscbucsfan wrote:
deltbucs wrote:Then you hear there's a 3.9 percent unemployment. It's really — if you add it up, it's probably 40 percent if you think about it.

I get it, now.

You can't just go quoting Trump without context. That's like walking into a bank and talking like mdb...

Touche btw

Yeah... I picked up on his reference to Trump. No one believed those numbers then either.
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Re: US ECONOMY News and Discussion Thread

Postby uscbucsfan » Fri Jun 15, 2018 12:01 pm

Buc2 wrote:
uscbucsfan wrote:I get it, now.

You can't just go quoting Trump without context. That's like walking into a bank and talking like mdb...

Touche btw

Yeah... I picked up on his reference to Trump. No one believed those numbers then either.

No, everyone made fun of him for making those up.
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