US ECONOMY News and Discussion Thread

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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Tue Aug 28, 2018 6:55 pm

Zarniwoop wrote:
Mountaineer Buc wrote:Inflatey McInflationson.




agreed....all those years of the elitist, un-elected and out of touch Fed artificially manipulating interest rates to help their rich cronies paired with a gov't that continues to not only print more money in the treasury but also borrow huge amounts to finance their spending is going to have ill effects

Low taxes, low interest, low gov't spending.

Pick two.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Tue Aug 28, 2018 8:02 pm

how about this...low taxes, low gov't spending (low printing of new currency) and let the interest rate fall where it may

rather than un-elected, elitist bankers setting it to line their own pockets?
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Re: US ECONOMY News and Discussion Thread

Postby HamBone » Wed Aug 29, 2018 6:44 am

Any thoughts on the proposed new US-Mexico trade deal?
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed Aug 29, 2018 7:08 am

I haven’t seen enough details yet. Have you found an article that gets into the nuts and bolts of it?
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Re: US ECONOMY News and Discussion Thread

Postby HamBone » Wed Aug 29, 2018 3:35 pm

Zarniwoop wrote:I haven’t seen enough details yet. Have you found an article that gets into the nuts and bolts of it?


No, I haven't...was hoping someone here had.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 29, 2018 8:30 pm

US economy expanded faster in Q2

Business investment in software and higher exports than originally estimated helped boost revisions to second-quarter growth. Gross domestic product, the sum of all goods and services produced in the U.S., registered at 4.2%, still the fastest pace in four years and up from the 4.1% estimated earlier.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 29, 2018 8:33 pm

US job satisfaction keeps climbing


The proportion of U.S. workers who are satisfied with their jobs is at the highest level in more than a decade, according to The Conference Board. The business research group surveyed workers in 2017 and found that 51% of people said they were satisfied with their jobs. The finding is within striking distance of the previous high of 52.1% in 2005. Some earners are more likely to be satisfied with their job than others, however.


58% of those earning more than $75,000 per year were satisfied with their jobs, compared to 45% of people earning less.

58% of households earning more than $75,000 per year were satisfied with their income, compared to 29.4% of households earning less.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed Aug 29, 2018 10:44 pm

RedLeader wrote:US job satisfaction keeps climbing


The proportion of U.S. workers who are satisfied with their jobs is at the highest level in more than a decade, according to The Conference Board. The business research group surveyed workers in 2017 and found that 51% of people said they were satisfied with their jobs. The finding is within striking distance of the previous high of 52.1% in 2005. Some earners are more likely to be satisfied with their job than others, however.


58% of those earning more than $75,000 per year were satisfied with their jobs, compared to 45% of people earning less.

58% of households earning more than $75,000 per year were satisfied with their income, compared to 29.4% of households earning less.

Top 30% of wage earners happy. Bottom 70% no so much.

Film at 11.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed Aug 29, 2018 10:46 pm

Then don’t be in the bottom 70

:P
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed Aug 29, 2018 10:48 pm

FYGM
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Wed Sep 05, 2018 9:09 am

https://www.usatoday.com/story/money/ec ... /37468497/

Stagnating salaries: Real US wages are essentially back at 1974 levels, Pew reports

Forget the chatter about tight labor markets, low unemployment, and vastly improved productivity. Purchasing power for most Americans has stagnated for decades.
If you get a $1,200 annual raise on the same day that your rent goes up by $100 a month, you don't need an accountant to tell you that you didn't actually make any financial progress. And while that's an excessively simplified example, it's nonetheless a pretty fair representation of what has been happening to most American workers over the past four decades.

Even though the official unemployment rate has been hovering around record lows in recent years, wage growth has stayed stagnant, a new study from Pew Research reveals. In fact, the real average wage, which Pew defines as "the wage after accounting for inflation" has roughly the same purchasing power as it did 40 years ago. And while some workers have seen gains, most of the increases have gone to those who were already the highest-paid.

It's about purchasing power
Average hourly wages for non-management, private-sector workers were $22.65 in July, up 2.7% from the a year earlier, according to Bureau of Labor Statistics data cited by Pew. That's in line with general patterns over the past five years, when wage growth has been between 2% and 3% annually. In the 1970s and early 1980s, however, when inflation was high, "average wages commonly jumped 7%, 8% or even 9% year over year," according to Pew's Drew Desilver.

"After adjusting for inflation, however, today's average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then," he wrote. "In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today."

For some workers, the reality is actually worse. Real wages among the lowest-paid quarter of workers have increased just 4.3% since 2000, while the top tenth of earners has seen an increase of 15.7% to $2,112 a week (compared to $26 each week for the bottom 10%).

What does this mean?
The heart of the problem is that while wage increases may make people feel like they're getting ahead, they don't necessarily mean folks are actually doing better, or that they have more discretionary income. To determine the real state of the economy and how the "average worker" is doing, you need to examine purchasing power -- which for the most part has not really changed.

For now, despite a few job categories where employers have been compelled by a tight labor market to nudge wages up a bit, this period of low unemployment has yet to improve the situation of average worker from where it was when President Ford was in the White House.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed Sep 05, 2018 6:24 pm

40% of families reported struggling to meet a basic need (food, rent, healthcare,etc) in the last year.

Will link in the morning if there's discussion.
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Re: US ECONOMY News and Discussion Thread

Postby uscbucsfan » Wed Sep 05, 2018 6:27 pm

Mountaineer Buc wrote:40% of families reported struggling to meet a basic need (food, rent, healthcare,etc) in the last year.

Will link in the morning if there's discussion.

80% of US households have an HD TV. #Choices #Priorities #Freedom

https://www.benton.org/headlines/hdtv-s ... households

What is the real purpose of hashtags? I see them on Facebook, but I'm not sure of the purpose. Is it just a trend?
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed Sep 05, 2018 6:30 pm

100% of my households struggled to meet my need for a $45,000 Ducati Panigale Racing Edition
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Re: US ECONOMY News and Discussion Thread

Postby uscbucsfan » Wed Sep 05, 2018 6:36 pm

My point is that those polls about households failing to meet "x" are extremely skewed. I know people that do not have insurance because "they can't afford it", but own multiple cars, a boat, and have a nice house. They actually justify paying the penalty. People allocate their money in different ways.

All stats/polls are inherently skewed.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed Sep 05, 2018 6:38 pm

I definitely got your point and agree with it, the standard of living of every class now far surpasses those equivalent classes from 50 years ago

What we call “needs” now are far more comprehensive then what people called needs then
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Re: US ECONOMY News and Discussion Thread

Postby Jonny » Wed Sep 05, 2018 8:48 pm

Got to love it when raging liberals use vague terms like "basic needs" to paint a gloomy picture of the economy. And MB is talking Bernie's language of dividing people based on wealth they mostly earned in legitimate ways.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Sep 05, 2018 8:55 pm

Mountaineer Buc wrote:40% of families reported struggling to meet a basic need (food, rent, healthcare,etc) in the last year.

Will link in the morning if there's discussion.


Meanwhile, consumers are shopping more, eating out more, smoking out more, and traveling more than ever... but yeah. Basic needs are hard to come by these days, I guess...
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Re: US ECONOMY News and Discussion Thread

Postby mightyleemoon » Thu Sep 06, 2018 6:10 am

uscbucsfan wrote:What is the real purpose of hashtags? I see them on Facebook, but I'm not sure of the purpose. Is it just a trend?


Cataloging and ease of search.

e.g. An event will direct people to put a certain hashtag on their instagram photos and then after the event everyone can search for that hashtag and see a collection of photos from that event.
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Re: US ECONOMY News and Discussion Thread

Postby mightyleemoon » Thu Sep 06, 2018 6:21 am

RedLeader wrote:
Mountaineer Buc wrote:40% of families reported struggling to meet a basic need (food, rent, healthcare,etc) in the last year.

Will link in the morning if there's discussion.


Meanwhile, consumers are shopping more, eating out more, smoking out more, and traveling more than ever... but yeah. Basic needs are hard to come by these days, I guess...


Jonny wrote:Got to love it when raging liberals use vague terms like "basic needs" to paint a gloomy picture of the economy. And MB is talking Bernie's language of dividing people based on wealth they mostly earned in legitimate ways.



Zarniwoop wrote:I definitely got your point and agree with it, the standard of living of every class now far surpasses those equivalent classes from 50 years ago

What we call “needs” now are far more comprehensive then what people called needs then


2 years ago Republicans were talking about how hard it was for Americans. How badly change was needed. I was right here on this board talking about how that was nonsense and most of us were doing pretty well. I know Red was one of the folks calling me niave and that my world view was limited. Just because I was doing well didn't mean everyone else was doing well.

Welp...I guess everything is all better now! I'm glad we can finally agree that Americans, as a whole, are enjoying a higher standard of living more and more as time goes on. But, if Trump gets voted out in a couple years, we'll probably go back to disagreeing about that point.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Sep 06, 2018 7:07 am

You certainly won’t find me 2 years ago saying things were better 50 years prior. I very much doubt you will find Jonny saying it either.

Things are better now then 2 years ago on just about every indicator. Likewise, there are still many things that could be better
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Re: US ECONOMY News and Discussion Thread

Postby deltbucs » Thu Sep 06, 2018 8:15 am

uscbucsfan wrote:
Mountaineer Buc wrote:40% of families reported struggling to meet a basic need (food, rent, healthcare,etc) in the last year.

Will link in the morning if there's discussion.

80% of US households have an HD TV. #Choices #Priorities #Freedom

https://www.benton.org/headlines/hdtv-s ... households

What is the real purpose of hashtags? I see them on Facebook, but I'm not sure of the purpose. Is it just a trend?

You basically can't even watch TV without an HDTV. There are tons in circulation (for lack of a better term). Lots of people buy new TV's every couple years and there are tons of old, cheap ones for sale or even hand-me-downs. I bet I can find one for $20 on craigslist right now.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Sep 06, 2018 8:35 am

Oh, look. There was a discussion.

HDTV's and Bughatti's? That's your standards, gentlemen? We're talking about food.
Link
Despite a strong economy, about 40 percent of American families struggled to meet at least one of their basic needs last year, including paying for food, health care, housing or utilities.
....
“Economic growth and low unemployment alone do not ensure everyone can meet their basic needs,” the authors wrote.

Food insecurity was the most common challenge: More than 23 percent of households struggled to feed their family at some point during the year. That was followed by problems paying a family medical bill, reported by about 18 percent. A similar percentage didn’t seek care for a medical need because of the cost.

Additionally, roughly 13 percent of families missed a utility bill payment at some point during the year. And 10 percent of families either didn’t pay the full amount of their rent or mortgage, or they paid it late.

While startling data to some, it comes as no surprise to those Americans who are struggling to get by.


Yet again, I have to remind you people that half the working adults in this country make less than $30,000 a year.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Sep 06, 2018 8:37 am

and again, that includes part time workers....LOL


but then again Buckminister, don't you pine for the day when people don't have to work at all in order to live?
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Sep 06, 2018 8:39 am

Zarniwoop wrote:and again, that includes part time workers....LOL


but then again Buckminister, don't you pine for the day when people don't have to work at all in order to live?

27% professor.

Just over a quarter of those workers are part time. We have covered this before.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Sep 06, 2018 8:41 am

Mountaineer Buc wrote:
Zarniwoop wrote:and again, that includes part time workers....LOL


but then again Buckminister, don't you pine for the day when people don't have to work at all in order to live?

27% professor.

Just over a quarter of those workers are part time. We have covered this before.



so its a shitty stat? keep using it. you should include children too. that will help your "point" even more.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Sep 06, 2018 8:42 am

Zarniwoop wrote:
Mountaineer Buc wrote:27% professor.

Just over a quarter of those workers are part time. We have covered this before.



so its a shitty stat? keep using it. you should include children too. that will help your "point" even more.

Mountaineer Buc wrote:I love how you guys think I make **** up.

Mountaineer Buc wrote: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.



Mountaineer Buc wrote: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.



Mountaineer Buc wrote: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.


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.



Mountaineer Buc wrote: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 Sep 06, 2018 8:43 am

27 million, not 27%

You obviously can't see it from your ivory tower.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Sep 06, 2018 8:47 am

Mountaineer Buc wrote:27 million, not 27%

You obviously can't see it from your ivory tower.



What is the world does this even mean? You said 1/2 of all workers earn less than $30K per year.

Mountaineer Buc wrote:
Yet again, I have to remind you people that half the working adults in this country make less than $30,000 a year.


Mountaineer Buc wrote:
Zarniwoop wrote:and again, that includes part time workers....LOL


but then again Buckminister, don't you pine for the day when people don't have to work at all in order to live?

27% professor.

Just over a quarter of those workers are part time. We have covered this before.


You then said 27% of those are part time workers




I never said a single thing about 27 million....nor did you, until now.
Last edited by Zarniwoop on Thu Sep 06, 2018 8:49 am, edited 1 time in total.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Thu Sep 06, 2018 8:49 am

Zarniwoop wrote:
Mountaineer Buc wrote:27 million, not 27%

You obviously can't see it from your ivory tower.



What is the world does this even mean? You said 1/2 of all workers earn less than $30K per year.

You then said 27% of those are part time workers


I never said a single thing about 27 million....nor did you, until now.

Scroll up.
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