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Economics of the US Economy (econusa) group

  1. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Saturday, 25-Jun-2022 22:56:33 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    https://nu.federati.net/url/286816

    State of the (US) Economy !econusa

    Remember, the Fed Chairman and a former Treasury Secretary have both come out in favor of reducing the availability of employment offers in order to knock down inflation, which likely means they'll be so focused on chopping down employment in order to deal with inflation (partly caused by Fed and Treasury policies, and partly caused by continuing supply shortages) that they are most likely to miss the economy's turning point and cause a deep and long contraction.
    In conversation about 9 days ago from nu.federati.net permalink

    Attachments

    1. 'It's almost unbelievable': People are having their job offers rescinded days before they start
      from https://www.facebook.com/CNBC
      It's not just crypto companies. People in health care, commerce and management are losing new jobs before they even start.
  2. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Thursday, 23-Jun-2022 04:40:59 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    https://nu.federati.net/url/286791 [www marketwatch com]

    > Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation > According to Bloomberg News, Summers said in a speech on Monday from London that there needs to be a lasting period of higher unemployment to contain inflation — a one-year spike to 10%, two years of 7.5% unemployment or five years of 6% unemployment. With idiots like this, I'm surprised that we're not in the midst of a very bloody Marxo-communist revolution.

    Say it with me: The current price inflation surge is not because too many common people are making too much money. It is because of corporate mismanagement (relying on imports and just-in-time inventories & production) causing shortages. And because the Fed and Treasury pumped trillions of dollars into the economy while these shortages continued.

    Focusing on the wrong cause just means that the Treasury and the Federal Reserve together will cause a very deep recession or even a depression because they will miss the turning point.

    With all the data that our economic leadership has, why are they missing things that a basic high school econ course would have taught them?

    !econusa
    In conversation about 12 days ago from nu.federati.net permalink

    Attachments

    1. Here's why Larry Summers wants 10 million people to lose their jobs
      from @MKTWgoldstein
      Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation, which Federal Reserve policy makers say...
  3. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Wednesday, 15-Jun-2022 19:42:11 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    in reply to
    • Economics of the US Economy
    • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    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.
    In conversation about 19 days ago from nu.federati.net permalink

    Attachments

    1. Federal Reserve increases key interest rate by 0.75% in biggest hike since 1994. What's that mean for economy and you?
      from Paul Davidson
      The Fed hiked its key interest rate by the most since 1994 to fight inflation. It forecast more big increases that will impact rates for consumers.
  4. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Sunday, 29-May-2022 21:09:41 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    Mr Biden, I think Mr Powell needs to resign or be fired. https://multipolarista.com/2022/05/24/us-federal-reserve-wages-inflation/ !econusa
    In conversation about a month ago from nu.federati.net permalink

    Attachments

    1. US Federal Reserve says its goal is 'to get wages down' - Multipolarista
      from Benjamin Norton
      US Federal Reserve chairman Jerome Powell called "to get wages down." Economist Michael Hudson says corporate monopolies drive inflation, not labor
  5. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Tuesday, 05-Apr-2022 12:54:33 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    https://bitcoinhackers.org/@2big2fail/108079404655334158

    #US_history !econusa #gold_standard #federal_reserve #fed
    In conversation about 3 months ago from nu.federati.net permalink

    Attachments

    1. 2big2fail (@2big2fail@bitcoinhackers.org)
      from 2big2fail
      Attached: 1 image 89yrs ago
  6. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Thursday, 03-Mar-2022 14:26:10 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    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.
    In conversation about 4 months ago from nu.federati.net permalink
  7. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Saturday, 13-Nov-2021 02:47:59 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    US prices rising at 6.2% annual rate, fastest in over 30 years https://www.bbc.co.uk/news/business-59236432

    !econusa
    In conversation about 8 months ago from nu.federati.net permalink

    Attachments

    1. US prices rising at 6.2%, fastest rate for three decades
      from BBC News
      Prices rose 6.2% in the year to October, pushed up by higher costs for food and fuel.
  8. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Monday, 18-Oct-2021 16:35:37 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    in reply to
    • Economics of the US Economy
    • Santa Claes 🇸🇪🇭🇰🎅
    @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
    In conversation about 9 months ago from nu.federati.net permalink
  9. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Sunday, 17-Oct-2021 01:44:03 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    in reply to
    • Economics of the US Economy
    • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    !econusa

    Following from https://nu.federati.net/notice/3382919

    I also remember the concerns that it was easier to make money by being a financier than by making and selling things ... which is not a good thing by any means.
    In conversation about 9 months ago from nu.federati.net permalink

    Attachments

    1. Invalid filename.
      LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Sunday, 17-Oct-2021 01:41:16 UTC
      By LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net) from Federati Nu: Federated N-series GNU Social
      https://www.theguardian.com/commentisfree/2021/oct/01/america-supply-chain-shortages [www theguardian com]

      Seen in the trees.

      This is all stuff that we knew could happen since at least the 1990s. I remember when industry leaders were praising "lean manufacturing", in which their supplies would be delivered just in time and their production would modulate to fit demand, so that inventories would be a thing of the past.

      Others were pointing out that if your supplier is halfway across the country, there's always going to be some risk of delayed shipments ... and that therefore, it would always be necessary to hold inventory.

      Some were pointing out that large companies tend to be inflexible and unresponsive, and that the existence of smaller, more nimble (and more local) competitors was essential to US competitiveness, even if that meant that products and services cost a little more.
  10. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Friday, 08-Oct-2021 20:55:32 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    https://www.bbc.co.uk/news/business-58847328

    Leaders of over 100 nations agree to 15% minimum corporate tax rate, some limits on profit-shifting.

    Just from what I read in the article, I'm convinced the rate is too low, and that the pact will fail to produce the desired results. Specifically, I believe corporate taxes should be on a unary system (allocated by where the related activities take place). So if #Apple makes most of its profit by selling iDevices in the USA, regardless of its profit-shifting techniques, taxation belongs here.

    !econusa
    In conversation about 9 months ago from nu.federati.net permalink

    Attachments

    1. Nations agree to 15% minimum corporate tax rate
      from BBC News
      The historic deal is designed to make big corporations pay a fairer share of tax around the world.
  11. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Monday, 27-Sep-2021 17:38:08 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Small Business, Owner-managed business, family-owned business, locally-owned business
    • Economics of the US Economy
    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
    In conversation about 9 months ago from nu.federati.net permalink

    Attachments


  12. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Wednesday, 30-Jun-2021 20:00:54 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    Congressperson: The Federal Reserve is "Dogecoining the US dollar" https://decrypt.co/72818/federal-reserve-dogecoining-us-dollar-rep-davidson [decrypt co]

    #The_Fed #BTC #Bitcoin #Dogecoin #USDollar #cryptocurrency !econusa

    Obviously, there is a point where the combination of the Fed's policies and Congress's borrow-and-spend policies will trigger inflationary price increases. No one knows for certain where that point is, but the Fed's operative assumption is based on doubling the money supply in one year during the 2008-2011 recession without any perceptible impact on prices.
    In conversation about a year ago from nu.federati.net permalink

    Attachments

    1. Federal Reserve Is 'Dogecoining the US Dollar': Rep. Davidson - Decrypt
      from Decrypt
      Bitcoin proponents Rep. Warren Davidson and Sen. Cynthia Lummis took aim at the Fed's monetary policy at the Bitcoin 2021 conference in Miami.
  13. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Friday, 18-Sep-2020 20:23:47 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Small Business, Owner-managed business, family-owned business, locally-owned business
    • Economics of the US Economy
    US #CensusBureau "Pulse" survey:

    * 55.0% of US !smallbiz did not furlough or lay off any paid employees after 2020-03-13

    * 44.5% have experienced a moderate negative effect from the #COVID-19 pandemic

    * 43.9% believe that more than 6 months will pass before business returns to normal

    * 48.2% of US retail trade businesses experienced domestic supplier delays in the past week.

    !econusa
    In conversation Friday, 18-Sep-2020 20:23:47 UTC from nu.federati.net permalink
  14. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Friday, 17-Jul-2020 21:55:37 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    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
    In conversation Friday, 17-Jul-2020 21:55:37 UTC from nu.federati.net permalink

    Attachments

    1. The Rich Cut Their Spending. That Has Hurt All the Workers Who Count on It.
      By By Emily Badger and Alicia Parlapiano from The New York Times
  15. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Wednesday, 17-Jun-2020 16:58:22 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    https://nu.federati.net/url/270673

    #Census data shows impact of #COVID-19 and shutdowns on #Smallbiz. !econusa
    In conversation Wednesday, 17-Jun-2020 16:58:22 UTC from nu.federati.net permalink

    Attachments


  16. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Sunday, 14-Jun-2020 23:40:02 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    !econusa Economic recovery may be slowed if #COVID-19 measures implemented unevenly. https://nu.federati.net/url/270574 [www marketwatch com]
    In conversation Sunday, 14-Jun-2020 23:40:02 UTC from nu.federati.net permalink

    Attachments

    1. Fed’s Kaplan worries economy’s recovery may be slowed if coronavirus health practices remain ‘uneven’
      from MarketWatch
      Dallas Fed President Robert Kaplan said Sunday health-care procedures to combat the coronavirus were just as important as government funding for the nascent...
  17. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Friday, 05-Jun-2020 20:37:05 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    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
    In conversation Friday, 05-Jun-2020 20:37:05 UTC from nu.federati.net permalink

    Attachments

    1. Unemployment rate falls to 13.3% as US adds 2.5 million jobs in May
      from wgrz.com
      The May job gain suggests that businesses have quickly been recalling workers as states have reopened their economies.
  18. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Monday, 25-May-2020 23:30:10 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    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
    In conversation Monday, 25-May-2020 23:30:10 UTC from nu.federati.net permalink

    Attachments

    1. Coronavirus: California to allow shopping at retail stores to resume, LA County to update health order
      from ABC7 Los Angeles
      Officials announced they will update a health order to now allow all retailers to open in L.A. County. The announcement comes after officials said in-store shopping will be allowed throughout the state.
  19. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Monday, 18-May-2020 05:25:08 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    in reply to
    • Economics of the US Economy
    • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    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
    In conversation Monday, 18-May-2020 05:25:08 UTC from nu.federati.net permalink
  20. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1@nu.federati.net)'s status on Wednesday, 06-May-2020 03:14:52 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
    • Economics of the US Economy
    https://nu.federati.net/url/268804 [www irishexaminer com]

    The pandemic and its related economic crisis could spur a new direction in governance.

    #COVID-19 | #2019-nCoV | #SARS-CoV-2 #coronavirus disease 2019 !econusa
    In conversation Wednesday, 06-May-2020 03:14:52 UTC from nu.federati.net permalink

    Attachments

    1. Kyran Fitzgerald: History suggests pandemic misery prompts New Deal economic thinking
      Global plagues and slumps leave human misery in their wake, but can also lead to major economic reforms, writes Kyran Fitzgerald
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Economics of the US Economy

Economics of the US Economy

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