US ECONOMY News and Discussion Thread

[Mountaineer Buc]

Wonder what law made them do that?

[mdb1958]

A six pack in Norway will run you 30 bucks MB.

[RedLeader]

[Mountaineer Buc]

A six pack in Norway will run you 30 bucks MB.

Same price as a craft beer from California.

[The Outsider]

And yet, Norwegians can still afford to get drunk. Somehow.

[Mountaineer Buc]

And yet, Norwegians can still afford to get drunk. Somehow.

They're Vikings. They invented that ****.

I bet Norway beer is worth every bit of that $30.

[RedLeader]

And yet, Norwegians can still afford to get drunk. Somehow.

Somehow.

[RedLeader]

And yet, Norwegians can still afford to get drunk. Somehow.

They're Vikings. They invented that ****.

I bet Norway beer is worth every bit of that $30.

Vikings would kick the ever loving **** out of Norwegians today...

[Mountaineer Buc]

They're Vikings. They invented that ****.

I bet Norway beer is worth every bit of that $30.

Vikings would kick the ever loving **** out of Norwegians today...

Isn't that kinda true for everybody?

[Zarniwoop]

These guys think so

[RedLeader]

Vikings would kick the ever loving **** out of Norwegians today...

Isn't that kinda true for everybody?

Speak for yourself... I’ll kick a Viking’s ass

[Mountaineer Buc]

Isn't that kinda true for everybody?

Speak for yourself... I’ll kick a Viking’s ass

lol.

[The Outsider]

Give a 12 year old an AR-15 and enough ammo and they'll hold off hundreds of Vikings.

[Rocker]

Give a 12 year old an AR-15 and enough ammo and they'll hold off hunnerds of Vikings.

FIFKress

[Mountaineer Buc]

Give a 12 year old an AR-15 and enough ammo and they'll hold off hunnerds of Vikings.

FIFKress

Nicely done.

[mdb1958]

I think the trick would be to try and get some of those hotties over here.

[mdb1958]

I don't blame you, Norwegians are hot.

[mdb1958]

If any of yas have a teen age son that wants to take a 2 week vacation in Norway --- make it happen.

[The Outsider]

And yet, Norwegians can still afford to get drunk. Somehow.

Somehow.

What do US statistics on tobacco use have to do with Norwegian alcohol use?

[RedLeader]

Wages, salaries rise most since '08


Wages and salaries are rising at the fastest clip since 2008, notching an annual 2.8% gain. The Labor Department data suggest that employers are competing for a shrinking pool of qualified workers by improving their compensation packages. The overall employment-cost index, including the cost of employer-paid taxes and benefits, also rose 2.8% from a year earlier.


Benefits costs jumped 2.9%, the most since 2011.
Private-sector wages and salaries rose 2.9% for a second straight quarter.
Employment costs surged 3% in construction and 2.9% in both manufacturing and service-related industries.



More good news...

[deltbucs]

U.S. government on course to borrow the most money since the financial crisis

The Treasury Department predicted the U.S. government’s borrowing needs in the second half of this year will jump to the most since last decade’s financial crisis as the nation’s fiscal health deteriorates despite a strong economy.

The department expects to issue $329 billion in net marketable debt from July through September, the fourth-largest total for that quarter on record and higher than the $273 billion estimated in April, Treasury said in a report Monday.

The yield on the U.S. 10-year note edged higher to almost 2.98% following publication of the borrowing outlook, but remained within its daily trading range. The two-year rate was steady around 2.67%, close to its low for the day.

The Treasury is boosting sales of bills, notes and bonds to help finance a budget gap that’s widening after President Trump signed $1.5 trillion in tax cuts late last year and the Republican-controlled Congress approved a roughly $300-billion spending increase.

The deficit totaled $607 billion through the first nine months of the fiscal year that ends Sept. 30, compared with $523 billion from a year earlier. The Congressional Budget Office in late June predicted total government spending would exceed revenue by $1 trillion in 2020.

http://www.latimes.com/business/la-fi-t ... story.html

[RedLeader]

U.S. government on course to borrow the most money since the financial crisis

The Treasury Department predicted the U.S. government’s borrowing needs in the second half of this year will jump to the most since last decade’s financial crisis as the nation’s fiscal health deteriorates despite a strong economy.

The department expects to issue $329 billion in net marketable debt from July through September, the fourth-largest total for that quarter on record and higher than the $273 billion estimated in April, Treasury said in a report Monday.

The yield on the U.S. 10-year note edged higher to almost 2.98% following publication of the borrowing outlook, but remained within its daily trading range. The two-year rate was steady around 2.67%, close to its low for the day.

The Treasury is boosting sales of bills, notes and bonds to help finance a budget gap that’s widening after President Trump signed $1.5 trillion in tax cuts late last year and the Republican-controlled Congress approved a roughly $300-billion spending increase.

The deficit totaled $607 billion through the first nine months of the fiscal year that ends Sept. 30, compared with $523 billion from a year earlier. The Congressional Budget Office in late June predicted total government spending would exceed revenue by $1 trillion in 2020.

http://www.latimes.com/business/la-fi-t ... story.html

Indeed. Those clouds have been brewing for a while. I hope folks are preparing accordingly...

[RedLeader]

Meanwhile...

U.S. Treasury Yields Hit 3% After Stronger-Than-Expected ADP Jobs Report

‪”At an impressive 219,000, the strong (just released) ADP report comfirms the employment tailwind for households — a major driver for the economy.

With the more comprehensive BLS jobs report out on Friday, we should be paying even more attention to developments in wages and labor force participation. “

[RedLeader]

Payrolls surge past projections


Private-sector payrolls jumped by 219,000 in July, the most since February and more than the 185,000 projected by analysts polled by Reuters and The Wall Street Journal. ADP and Moody’s Analytics said mid-sized businesses added the most jobs, led by service providers such as in health care. The job creation has been fueled by last year’s corporate tax cut, Moody’s said.



#trickle

[Mountaineer Buc]

Mall retailer Brookstone has filed for Chapter 11 and will close all 100 retail stores.

[Buc2]

Mall retailer Brookstone has filed for Chapter 11 and will close all 100 retail stores.

Brick & mortar stores have been in trouble for a long time now. It's not so much the economy that's at fault as it is the business model that is the problem. Imo.

[Zarniwoop]

I loved going in Brookstone to play with gadgets. I never bought one though.

[Mountaineer Buc]

Mall retailer Brookstone has filed for Chapter 11 and will close all 100 retail stores.

Brick & mortar stores have been in trouble for a long time now. It's not so much the economy that's at fault as it is the business model that is the problem. Imo.

Should I have put this in the everything business thread?

[Buc2]

Brick & mortar stores have been in trouble for a long time now. It's not so much the economy that's at fault as it is the business model that is the problem. Imo.

Should I have put this in the everything business thread?

You can put it wherever you like. But since it was in the economy thread, I assumed you felt it was the economy that is causing their bankruptcy. I'm just disagreeing because I think it has more to do with the business model.

[RedLeader]

Fortunatey, at least, if you’re going to get laid off, now’s the time to have it happen.



Go forth and conquer, people!