US ECONOMY News and Discussion Thread

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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Fri Nov 01, 2019 8:49 am

mdb1958 wrote:
May I ask you what classes you teach as a Professor?



I'm currently teaching a class on exploring randomness and some of the principles of quantum mechanics, through poetry, using the medium of sheep.
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Fri Nov 01, 2019 8:51 am

:lol:
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Re: US ECONOMY News and Discussion Thread

Postby TheChefO » Fri Nov 01, 2019 8:51 am

Zarniwoop wrote:
mdb1958 wrote:
May I ask you what classes you teach as a Professor?



I'm currently teaching a class on exploring randomness and some of the principles of quantum mechanics, through poetry, using the medium of sheep.


Theory.

You left out "theory" somewhere in there.
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Fri Nov 01, 2019 9:47 am

Mountaineer Buc wrote:
U.S. farm bankruptcies in September surged 24% to their highest level since 2011 amid strains from President Trump’s trade war with China and a year of wild weather.

Growers are also becoming increasingly dependent on trade aid and other federal programs for income, according to figures in a report by the American Farm Bureau Federation, the nation’s largest general farm organization.

The squeeze on farmers underscores the toll that China’s retaliatory tariffs have taken on a critical Trump constituency as the president enters a reelection campaign and a fight to stave off impeachment. The figures also highlight the importance of a “Phase 1” deal the administration is currently negotiating with Beijing to increase agriculture imports in return for a pause in escalating U.S. levies.
Almost 40% of projected farm profit this year will come from trade aid, disaster assistance, federal subsidies and insurance payments, according to the report, based on Department of Agriculture forecasts. That’s $33 billion of a projected $88 billion in income.

The trade war and two straight years of adverse weather rattled farmers already facing commodity price slumps.

Chapter 12 bankruptcy filings in the 12 months ended September rose to 580 from a year earlier. That marked the highest since 676 cases in 2011 under the chapter of the bankruptcy code tailored for farms. The total “remains well below” historical highs in the 1980s, the federation said.

Recent bankruptcies were concentrated in the 13-state Midwestern region, a key battleground in the presidential election where grain, soybean, hog and dairy farms have been hit by trade disputes. More than 40%, or 255, of the bankruptcy filings were in the region.

The US is taking money from taxpayers and giving handouts to a group that has been adversely impacted by the federal government's actions in the interest of fairness. There's a word for this, but I can't quite put my finger on it...
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Fri Nov 01, 2019 9:50 am

bucfanclw wrote:
Mountaineer Buc wrote:

The US is taking money from taxpayers and giving handouts to a group that has been adversely impacted by the federal government's actions in the interest of fairness. There's a word for this, but I can't quite put my finger on it...

REDISTRIBUTION!

Yeah, conservatives actually LOVE redistribution of wealth. But only when its redistributed to the wealthy.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Fri Nov 01, 2019 10:01 am

bucfanclw wrote:
Mountaineer Buc wrote:

The US is taking money from taxpayers and giving handouts to a group that has been adversely impacted by the federal government's actions in the interest of fairness. There's a word for this, but I can't quite put my finger on it...


You still banging this drum a year later like it’s a fresh take. It’s not.

It’s a bail out. Like many we’ve had before.

We’re a capitalist country with socialist tendencies. Don’t make a big deal about it.
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Re: US ECONOMY News and Discussion Thread

Postby TheChefO » Fri Nov 01, 2019 10:04 am

Mountaineer Buc wrote:
bucfanclw wrote:The US is taking money from taxpayers and giving handouts to a group that has been adversely impacted by the federal government's actions in the interest of fairness. There's a word for this, but I can't quite put my finger on it...

REDISTRIBUTION!

Yeah, conservatives actually LOVE redistribution of wealth. But only when its redistributed to the wealthy.


Best example was during the great recession.

Best thing about it was the D mask used so nobody would look too deeply and instead, happily check that ballet box "fighting the good fight for the working class" ... and as the door closes, the recipients laugh at the naive fools for still believing the lie.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Fri Nov 01, 2019 10:10 am

TheChefO wrote:
Mountaineer Buc wrote:REDISTRIBUTION!

Yeah, conservatives actually LOVE redistribution of wealth. But only when its redistributed to the wealthy.


Best example was during the great recession.

Best thing about it was the D mask used so nobody would look too deeply and instead, happily check that ballet box "fighting the good fight for the working class" ... and as the door closes, the recipients laugh at the naive fools for still believing the lie.

This read like it came from Terry's facebook page.
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Re: US ECONOMY News and Discussion Thread

Postby TheChefO » Fri Nov 01, 2019 10:17 am

Mountaineer Buc wrote:
TheChefO wrote:
Best example was during the great recession.

Best thing about it was the D mask used so nobody would look too deeply and instead, happily check that ballet box "fighting the good fight for the working class" ... and as the door closes, the recipients laugh at the naive fools for still believing the lie.

This read like it came from Terry's facebook page.


Who's Terry?
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Mon Nov 18, 2019 2:42 pm

Brace for impact.

India economy stalling out Reuters Nov 18th

German economy stalling out euronews Nov 18th

Putin predicts collapse of the dollar Economic Policy Journal 17 Nov.

Only 29% of Americans consider themselves financially healthy CNBC on Friday (glass half full)

70% of Americans are struggling financially CBS on Nov 14th (glass half empty)

44% of working Americans have low wage jobs with a median hourly wage of $10.22 an hour Blog citing Brookings institution study last friday




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Re: US ECONOMY News and Discussion Thread

Postby PetePierson » Mon Nov 18, 2019 2:49 pm

Mountaineer Buc wrote:Brace for impact.

India economy stalling out Reuters Nov 18th

German economy stalling out euronews Nov 18th

Putin predicts collapse of the dollar Economic Policy Journal 17 Nov.

Only 29% of Americans consider themselves financially healthy CNBC on Friday (glass half full)

70% of Americans are struggling financially CBS on Nov 14th (glass half empty)

44% of working Americans have low wage jobs with a median hourly wage of $10.22 an hour Blog citing Brookings institution study last friday



Greece, Venezuela, Brazil, Haiti, DR and a myriad of other countries all have had significant issues (some more recent with others) with their economy. So I am none too concerned about Germany or India for that matter.

2008 wasn't that long ago. Americans (in general) are notoriously ignorant to economics and often overextend themselves / keeping up with the Joneses.

The citizens have to take some accountability.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Mon Nov 18, 2019 2:51 pm

Mountaineer Buc wrote:
Only 29% of Americans consider themselves financially healthy CNBC on Friday (glass half full)

70% of Americans are struggling financially CBS on Nov 14th (glass half empty)




I like those studies because they break it down into the four major sectors. I'd like to see more details on each of those sectors. It would be an interesting read.



It's hard to know now after reading it (with hindsight bias and all), but if you had asked me to guess the % of Americans that would answer all four sections positively, I don't think I would have guessed as high as even 30%.
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Re: US ECONOMY News and Discussion Thread

Postby Ken Carson » Mon Nov 18, 2019 6:10 pm

We should also add that only 6% of Americans passed a basic financial literacy test. Our version of “struggling financially” is the rest of the world’s “wealthiest 1%.”

85% of American households have in-home laundry machines.

78% of US households pay for some form of television programming.

57% of American households have 2 cars. 27% of UK households have 2 cars, for reference.

The average American eats 4.2 meals outside the home per week.

This idea that Americans are “struggling” needs to be better defined. As in what are you struggling against? Paying for heat, groceries and gas? OK. Paying for your second car, HBO and your 5th dinner out in a week? Let’s be real.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Mon Nov 18, 2019 6:12 pm

What are they struggling against? Insolvency, you ****ing moron.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Mon Nov 18, 2019 6:23 pm

I can’t say I’ve ever seen one poster get under someone else’s skin so much ... or indeed in real life

He clearly says right there ... there’s a difference between ability to pay for necessities than there is to pay for the non-essentials
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Re: US ECONOMY News and Discussion Thread

Postby HamBone » Mon Nov 18, 2019 6:27 pm

Mountaineer Buc wrote:What are they struggling against? Insolvency, you ****ing moron.


lol
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Mon Nov 18, 2019 7:50 pm

Ken Carson wrote:57% of American households have 2 cars. 27% of UK households have 2 cars, for reference.

Wow....in the UK they're almost as poor as people in Manhattan!
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Re: US ECONOMY News and Discussion Thread

Postby Jason Bourne » Mon Nov 18, 2019 8:09 pm

11 % of people in Singapore own a car .... one of the wealthiest countries in the world
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Re: US ECONOMY News and Discussion Thread

Postby Ken Carson » Tue Nov 19, 2019 12:08 am

deltbucs wrote:
Ken Carson wrote:57% of American households have 2 cars. 27% of UK households have 2 cars, for reference.

Wow....in the UK they're almost as poor as people in Manhattan!

87% of households in the UK own at least one car, compared to 95% in the US. Pretty similar. Manhattan household car ownership is 22%, so not sure why you thought that was relevant. It’s not remotely comparable to general car ownership in either the UK or US. What is different is that US household are significantly more likely to own a second car.

As far as car ownership in Singapore, it’s because 6 million people live in an area smaller than metro Philadelphia.

Do either of you disagree with the larger point? That life in the United States has a pretty incredible standard of living and the vast majority of the country saying they are struggling doesn’t track with reality?
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Tue Nov 19, 2019 12:15 am

Ken Carson wrote:
deltbucs wrote:Wow....in the UK they're almost as poor as people in Manhattan!

87% of households in the UK own at least one car, compared to 95% in the US. Pretty similar. Manhattan household car ownership is 22%, so not sure why you thought that was relevant. It’s not remotely comparable to general car ownership in either the UK or US. What is different is that US household are significantly more likely to own a second car.

As far as car ownership in Singapore, it’s because 6 million people live in an area smaller than metro Philadelphia.

Do either of you disagree with the larger point? That life in the United States has a pretty incredible standard of living and the vast majority of the country saying they are struggling doesn’t track with reality?

It doesn't make sense to you because you're a ****ing idiot.
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Tue Nov 19, 2019 12:22 am

Mountaineer Buc wrote:
Ken Carson wrote:87% of households in the UK own at least one car, compared to 95% in the US. Pretty similar. Manhattan household car ownership is 22%, so not sure why you thought that was relevant. It’s not remotely comparable to general car ownership in either the UK or US. What is different is that US household are significantly more likely to own a second car.

As far as car ownership in Singapore, it’s because 6 million people live in an area smaller than metro Philadelphia.

Do either of you disagree with the larger point? That life in the United States has a pretty incredible standard of living and the vast majority of the country saying they are struggling doesn’t track with reality?

It doesn't make sense to you because you're a ****ing idiot.

I'm so surprised he totally missed the point.
LOL!!
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Tue Nov 19, 2019 12:46 am

Like I said. Always fun to see MB get triggered at least once a day. Lol.

Oh. And the bubble is not news. There have been signs all year... The news is that it hasn’t popped yet.

But worry not, chicken little. It will come soon enough and you’ll have reason to celebrate then I’m sure.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Tue Nov 19, 2019 12:51 am

RedLeader wrote:Like I said. Always fun to see MB get triggered at least once a day. Lol.

Says the guy who gets triggered whenever he's reminded that he too, is a moron.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Tue Nov 19, 2019 1:12 am

That's what I thought.

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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Tue Nov 19, 2019 1:28 am

Mountaineer Buc wrote:
RedLeader wrote:Like I said. Always fun to see MB get triggered at least once a day. Lol.

Says the guy who gets triggered whenever he's reminded that he too, is a moron.


Lol. Okay pal. You got me with the “I know you are but what am I?!” routine.


Go to bed.
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Re: US ECONOMY News and Discussion Thread

Postby Ken Carson » Tue Nov 19, 2019 7:31 am

deltbucs wrote:
Mountaineer Buc wrote:It doesn't make sense to you because you're a ****ing idiot.

I'm so surprised he totally missed the point.
LOL!!

Please explain your point. You seem to be attempting to refute my point that, compared to the rest of the world, the average American is enjoying (and therefore paying for) what are considered luxuries to the vast majority of the world. One of my comparison points is the % of 2 car households in the US vs the UK where car ownership is considered extremely common, but 2 car ownership in the UK is extremely uncommon, maybe even rare.

The last time I asked you to clarify your “LOL you’re so dumb,” comment, you punted. Are you going to do so yet again, and deprive all of us of your incredible wisdom?
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Re: US ECONOMY News and Discussion Thread

Postby PetePierson » Tue Nov 19, 2019 7:35 am

Ken Carson wrote:Please explain your point. You seem to be attempting to refute my point that, compared to the rest of the world, the average American is enjoying (and therefore paying for) what are considered luxuries to the vast majority of the world. One of my comparison points is the % of 2 car households in the US vs the UK where car ownership is considered extremely common, but 2 car ownership in the UK is extremely uncommon, maybe even rare.


While I agree that the US is beyond gluttonous with materials, food, luxuries, etc... The 2-vehicle % comparison to most European countries is a skewed stat (IMHO). Most of those countries have a much more concentrated population, have better public transportation and can't come close to the sheer size / land mass of the US.

I am not sure if it is out there but disposable income would probably be more apt. And I am guessing that # is closer sans credit.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Tue Nov 19, 2019 7:59 am

PetePierson wrote:
Ken Carson wrote:Please explain your point. You seem to be attempting to refute my point that, compared to the rest of the world, the average American is enjoying (and therefore paying for) what are considered luxuries to the vast majority of the world. One of my comparison points is the % of 2 car households in the US vs the UK where car ownership is considered extremely common, but 2 car ownership in the UK is extremely uncommon, maybe even rare.


While I agree that the US is beyond gluttonous with materials, food, luxuries, etc... The 2-vehicle % comparison to most European countries is a skewed stat (IMHO). Most of those countries have a much more concentrated population, have better public transportation and can't come close to the sheer size / land mass of the US.

I am not sure if it is out there but disposable income would probably be more apt. And I am guessing that # is closer sans credit.



Really the best way to see it is simply by living in other countries or traveling internationally frequently ... just see a routine day in the life of a Brit, or a Frenchman, or a German, etc


There are many, many things I love about other countries. There are many things I think other countries do better than us. But there’s not another country where I would have a higher standard of living, I realize it’s not like that for every single person but I o think that’s the case for a majority of people
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Tue Nov 19, 2019 8:10 am

PetePierson wrote:
Ken Carson wrote:Please explain your point. You seem to be attempting to refute my point that, compared to the rest of the world, the average American is enjoying (and therefore paying for) what are considered luxuries to the vast majority of the world. One of my comparison points is the % of 2 car households in the US vs the UK where car ownership is considered extremely common, but 2 car ownership in the UK is extremely uncommon, maybe even rare.


While I agree that the US is beyond gluttonous with materials, food, luxuries, etc... The 2-vehicle % comparison to most European countries is a skewed stat (IMHO). Most of those countries have a much more concentrated population, have better public transportation and can't come close to the sheer size / land mass of the US.

I am not sure if it is out there but disposable income would probably be more apt. And I am guessing that # is closer sans credit.

Thanks for holding Ken's hand for us, Pete. It really didn't seem that complicated to me. Now, enjoy arguing with Ken for a few pages about it.
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Re: US ECONOMY News and Discussion Thread

Postby Ken Carson » Tue Nov 19, 2019 8:23 am

PetePierson wrote:
Ken Carson wrote:Please explain your point. You seem to be attempting to refute my point that, compared to the rest of the world, the average American is enjoying (and therefore paying for) what are considered luxuries to the vast majority of the world. One of my comparison points is the % of 2 car households in the US vs the UK where car ownership is considered extremely common, but 2 car ownership in the UK is extremely uncommon, maybe even rare.


While I agree that the US is beyond gluttonous with materials, food, luxuries, etc... The 2-vehicle % comparison to most European countries is a skewed stat (IMHO). Most of those countries have a much more concentrated population, have better public transportation and can't come close to the sheer size / land mass of the US.

I am not sure if it is out there but disposable income would probably be more apt. And I am guessing that # is closer sans credit.

The median disposable income by household in the US was $34.5K in 2015). That same year, the UK was at $22.6K. Note that is before the economy picked up even more and taxes were cut.

Certainly there are other factors that lead to the disparity, but there is also a reason why, despite car ownership being the norm in the UK, having a second car is rare. Delt’s Manhattan example is just out there, as simply owning a car is very rare (1 in 5) vs the nearly 9 in 10 UK households that have one.

We don’t need to get hung up on the details though. Americans spend a lot more money on things they could go without than any other country in the world.

I mean, it takes some serious entitlement to look around your home loaded with conveniences, turn on your large TV and choose between Netflix, Hulu and cable, decide to just buy some **** on Amazon from your blisteringly fast internet-connected smartphone while eating Uber Eats for the fifth time in a week. Your finances may be shitty, but in many cases (of course not all), people are living in a struggle of their own making.
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