Bidenomics At Work
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wrote on 17 Mar 2024, 03:06 last edited by
@Axtremus said in Bidenomics At Work:
If you want new refineries "now" the time to start building them was 4~5 years ago.
Probably more like 20 years ago or more. We don’t like to build things anymore.
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@Axtremus said in Bidenomics At Work:
If you want new refineries "now" the time to start building them was 4~5 years ago.
Probably more like 20 years ago or more. We don’t like to build things anymore.
wrote on 17 Mar 2024, 13:20 last edited by Copper@jon-nyc said in Bidenomics At Work:
We don’t like to build things anymore.
Front page this morning.
Demand growing for subs, workers
Newport News Shipbuilding hiring thousands as Navy’s needs continue to rise
By Caitlyn Burchett Staff writer
As the demand for nuclear-powered submarines increases, Newport News Shipbuilding said it’s working to hire 3,000 skilled trades workers this year and a total of 19,000 within the decade.
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wrote on 17 Mar 2024, 13:26 last edited by
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@Jolly said in Bidenomics At Work:
built during the Trump Administration.
Started up in 2022, due the overall guidance of President Biden. LOL
The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)
(My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)
wrote on 17 Mar 2024, 21:49 last edited by@taiwan_girl said in Bidenomics At Work:
@Jolly said in Bidenomics At Work:
built during the Trump Administration.
Started up in 2022, due the overall guidance of President Biden. LOL
The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)
(My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)
The refinery I was referring to worked with shale oil. Wasn't familiar with a ULSD refinery. Where's it at and how big is it?
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@taiwan_girl said in Bidenomics At Work:
@Jolly said in Bidenomics At Work:
built during the Trump Administration.
Started up in 2022, due the overall guidance of President Biden. LOL
The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)
(My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)
The refinery I was referring to worked with shale oil. Wasn't familiar with a ULSD refinery. Where's it at and how big is it?
wrote on 18 Mar 2024, 02:12 last edited by@Jolly It is the Texas International Terminals refinery in Galveston, Texas in the south of the US. It is small for a refinery however.
But I think that is the only "brand new" refinery to be build in the US recently.
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wrote on 18 Mar 2024, 21:01 last edited by
https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095
Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.
Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.
The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.
In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.
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https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095
Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.
Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.
The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.
In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.
wrote on 18 Mar 2024, 21:36 last edited by@George-K said in Bidenomics At Work:
https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095
Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.
Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.
The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.
In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.
Oh my God, my daughter will be devastated. That place is her idea of heaven.
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@George-K said in Bidenomics At Work:
https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095
Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.
Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.
The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.
In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.
Oh my God, my daughter will be devastated. That place is her idea of heaven.
wrote on 18 Mar 2024, 21:54 last edited by@Doctor-Phibes said in Bidenomics At Work:
@George-K said in Bidenomics At Work:
https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095
Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.
Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.
The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.
In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.
Oh my God, my daughter will be devastated. That place is her idea of heaven.
It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?
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wrote on 18 Mar 2024, 22:35 last edited by
Sen. Joe Manchin on the American energy policy:
Joe Manchin: Our energy policy is a success. President Biden should be proud.
I want to congratulate President Biden for the record-breaking energy production we are seeing in America today. The United States is producing more oil, gas and renewable energy than ever before. We are exporting more fossil fuel energy than we import. Our country has never been more energy-independent than we are today.
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This is something to celebrate. And it would not have been possible without the Inflation Reduction Act and the Bipartisan Infrastructure Law that Biden signed. Thanks to these two historic laws, we are unlocking major opportunities throughout the country, implementing an “all-of-the-above” energy strategy that we need today while continuing to innovate the technologies we want for tomorrow.
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@Doctor-Phibes said in Bidenomics At Work:
@George-K said in Bidenomics At Work:
https://www.cbsnews.com/news/joann-bankruptcy-filing-stores/?ftag=CNM-00-10aab7e&linkId=363930095
Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.
Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy, reported between $1 billion and $10 billion in debt. In court documents filed Monday, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
As part of its bankruptcy, Joann said it has received about $132 million in new financing and expects to reduce its balance sheet's funded debt by about $505 million. The financing is "a significant step forward" to help Joann continue operating its stores, Scott Sekella, Joann's chief financial officer said in a statement.
The filing marks the latest in a series of major retailers that have filed for bankruptcy in recent years, including GNC, J.C. Penney and Party City. Brick-and-mortar retailers have struggled as Americans have increasingly shifted their spending to online rivals such as Amazon.com.
In Joann's case, the company was buoyed in the early days of the pandemic as the shutdown spurred some consumers to take up crafts and other projects. But during the past two years, Joann's sales have tumbled, with the company blaming consumer cutbacks due to inflation and other economic challenges.
Oh my God, my daughter will be devastated. That place is her idea of heaven.
It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?
wrote on 18 Mar 2024, 23:30 last edited by Doctor Phibes@LuFins-Dad said in Bidenomics At Work:
Oh my God, my daughter will be devastated. That place is her idea of heaven.
It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?
She makes cosplay outfits for herself and her friends, dresses for herself, random projects like hats. Some of them are really good. She made a couple of hundred bucks selling cuddly toy things she'd made at college on Valentine's Day. It's also a good mental-health activity. The problem, as with everything she does, is she's a perfectionist, and when things don't go quite right things can get quite fraught.
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@LuFins-Dad said in Bidenomics At Work:
Oh my God, my daughter will be devastated. That place is her idea of heaven.
It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?
She makes cosplay outfits for herself and her friends, dresses for herself, random projects like hats. Some of them are really good. She made a couple of hundred bucks selling cuddly toy things she'd made at college on Valentine's Day. It's also a good mental-health activity. The problem, as with everything she does, is she's a perfectionist, and when things don't go quite right things can get quite fraught.
wrote on 19 Mar 2024, 00:04 last edited by@Doctor-Phibes said in Bidenomics At Work:
@LuFins-Dad said in Bidenomics At Work:
Oh my God, my daughter will be devastated. That place is her idea of heaven.
It’s a restructuring… She’ll be fine. But really? What does she do? Apparel?
She makes cosplay outfits for herself and her friends, dresses for herself, random projects like hats. Some of them are really good. She made a couple of hundred bucks selling cuddly toy things she'd made at college on Valentine's Day. It's also a good mental-health activity. The problem, as with everything she does, is she's a perfectionist, and when things don't go quite right things can get quite fraught.
That’s great!
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I get new brakes every 40k-50K (pads and rotors). Last set was November of 2022. $640. Getting a new set right now. $965.
wrote on 19 Mar 2024, 00:33 last edited by@LuFins-Dad said in Bidenomics At Work:
I get new brakes every 40k-50K (pads and rotors). Last set was November of 2022. $640. Getting a new set right now. $965.
Just saw this one. Car are getting more finicky, but pads&rotors for something like a 2018 Camry are less than 300 bucks (ceramic pads). It's the labor that has gotten ridiculous.
Last week I had to have the fuel pump and sending unit put in my GMC. Like most stuff, they either dropped the tank or pulled the bed to replace the part. I also had a couple of wires with mouse damage, so they fixed that. Cost? $1000 with the tax.
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R Renauda referenced this topic on 3 Apr 2024, 23:56
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wrote on 5 Apr 2024, 15:42 last edited by
Another strong, very strong, job report for March 2024:
https://www.cnn.com/2024/04/05/economy/us-jobs-report-march-final/index.html
Employers added 303,000 jobs in March, the Bureau of Labor Statistics reported. The unemployment rate fell to 3.8% from 3.9% the month before.
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Annual wage gains slowed to 4.1% from 4.3%, a trajectory likely welcomed by the Federal Reserve in its efforts to tame inflation but yet a still-strong rate to help Americans recapture earnings that were decimated by the pandemic and high inflation.
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Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs).
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The current US job market is also one of the strongest, historically: The economy has added jobs for 39 consecutive months, marking the fifth-longest period of job expansion on record, BLS data shows. The unemployment rate has been below 4% for 26 months in a row, the longest streak since the late 1960s.Chart from the Washington Post:
Source: https://www.washingtonpost.com/business/2024/04/05/jobs-march-unemployment-rate/ -
wrote on 5 Apr 2024, 16:55 last edited by
Job market is garbage according to boots on the ground here.
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wrote on 5 Apr 2024, 16:58 last edited by
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wrote on 5 Apr 2024, 17:01 last edited by
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wrote on 5 Apr 2024, 18:45 last edited by
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wrote on 5 Apr 2024, 18:54 last edited by LuFins Dad 4 May 2024, 18:55
There is a serious catch within the job creation numbers, though, which is not really being discussed this morning across the financial media.** Part-time jobs showed a massive increase of 525K for March, up from an increase of 107K in February. That means that full-time jobs were lost on a net basis in March.** Even using the Household print, full-time jobs decreased by 27K in March. Using Non-Farm Payrolls... the U.S. economy lost 222K full-time jobs in March..
As to the racial demographics of March labor, Whites or Caucasians saw no change in their unemployment rate, while both Asians and Hispanics or Latinos made significant gains. However, Black or African American unemployment soared from 5.6% in February to 6.4% in March..
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wrote on 5 Apr 2024, 19:01 last edited by
As to the racial demographics of March labor, Whites or Caucasians saw no change in their unemployment rate, while both Asians and Hispanics or Latinos made significant gains.
I get what they're trying to say there, but how frustrating is it that someone would write "significant gains in unemployment rate", and mean the rate went down?
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wrote on 6 Apr 2024, 00:44 last edited by
Yeah, but I want the revision of the revision of the March numbers before passing judgement.
