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The New Coffee Room

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  3. Bidenomics At Work

Bidenomics At Work

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  • J Offline
    J Offline
    Jolly
    wrote on 7 Jun 2024, 22:37 last edited by
    #222

    If you tell a lie loud enough and long enough...

    “Cry havoc and let slip the DOGE of war!”

    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

    1 Reply Last reply
    • G Offline
      G Offline
      George K
      wrote on 8 Jun 2024, 12:49 last edited by George K 6 Aug 2024, 12:52
      #223

      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

      1 Reply Last reply
      • J Offline
        J Offline
        Jolly
        wrote on 8 Jun 2024, 12:57 last edited by
        #224

        Look at the IT jobs...

        “Cry havoc and let slip the DOGE of war!”

        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

        1 Reply Last reply
        • G Offline
          G Offline
          George K
          wrote on 8 Jun 2024, 13:02 last edited by
          #225

          Black and Hispanic unemployment is at a record low

          There have never been more Black and Hispanic Americans in the workforce, Friday’s Labor Department job report showed.

          The jobless rate for Hispanics hit a record low of 3.9% in September, while African Americans maintained its lowest rate ever, 5.5%.

          Oh, wait. That was from 2019. My bad...

          Jobless rates rise in May for all racial groups except white Americans

          White unemployment remained at 3.5% last month, making the demographic group the only one that didn’t experience a rise in jobless rates from April to May. It also went against the overall unemployment rate, which edged higher to 4% from 3.9%.

          Meanwhile, the jobless rate for Black Americans rose to 6.1% from 5.6%. For Asian and Hispanic workers, respectively, it rose to 3.1% from 2.8%, and to 5% from 4.8%.

          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

          1 Reply Last reply
          • A Offline
            A Offline
            Axtremus
            wrote on 8 Jun 2024, 13:35 last edited by
            #226

            About doing "multiple gig jobs" vs. "one full time job," while "one full time job" is easier and more more predictable day-to-day, the "multiple gig jobs" model is arguably lower risk long term because you won't be completely out of work and out of income because an employer goes bust or terminate you all of a sudden.

            Yeah, the Industrial Revolution somehow led to an abundance of jobs that are steady year round, it lifted the standard of living for the masses. It's good to have "one steady full time job", it's good to not have to worry about what to do with your next eight hours (because your employer planned it out for you). But why would one expect that model to last forever?

            A 1 Reply Last reply 30 Jul 2024, 21:49
            • J Offline
              J Offline
              Jolly
              wrote on 8 Jun 2024, 13:41 last edited by
              #227

              Gig jobs do not normally come with benefits.

              “Cry havoc and let slip the DOGE of war!”

              Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

              A 1 Reply Last reply 8 Jun 2024, 14:17
              • J Jolly
                8 Jun 2024, 13:41

                Gig jobs do not normally come with benefits.

                A Offline
                A Offline
                Axtremus
                wrote on 8 Jun 2024, 14:17 last edited by
                #228

                @Jolly said in Bidenomics At Work:

                Gig jobs do not normally come with benefits.

                That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                L C 2 Replies Last reply 8 Jun 2024, 14:34
                • A Axtremus
                  8 Jun 2024, 14:17

                  @Jolly said in Bidenomics At Work:

                  Gig jobs do not normally come with benefits.

                  That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                  L Offline
                  L Offline
                  LuFins Dad
                  wrote on 8 Jun 2024, 14:34 last edited by
                  #229

                  @Axtremus said in Bidenomics At Work:

                  @Jolly said in Bidenomics At Work:

                  Gig jobs do not normally come with benefits.

                  That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                  Great, I nominate you to be the single payer.

                  The Brad

                  J 1 Reply Last reply 8 Jun 2024, 18:23
                  • A Axtremus
                    8 Jun 2024, 14:17

                    @Jolly said in Bidenomics At Work:

                    Gig jobs do not normally come with benefits.

                    That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                    C Offline
                    C Offline
                    Copper
                    wrote on 8 Jun 2024, 14:38 last edited by
                    #230

                    @Axtremus said in Bidenomics At Work:

                    single payer universal healthcare

                    That is obamacare.

                    Of course additional insurance options exist for those who want to pay. More than just the single payer is not forbidden.

                    1 Reply Last reply
                    • L LuFins Dad
                      8 Jun 2024, 14:34

                      @Axtremus said in Bidenomics At Work:

                      @Jolly said in Bidenomics At Work:

                      Gig jobs do not normally come with benefits.

                      That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                      Great, I nominate you to be the single payer.

                      J Offline
                      J Offline
                      Jolly
                      wrote on 8 Jun 2024, 18:23 last edited by
                      #231

                      @LuFins-Dad said in Bidenomics At Work:

                      @Axtremus said in Bidenomics At Work:

                      @Jolly said in Bidenomics At Work:

                      Gig jobs do not normally come with benefits.

                      That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                      Great, I nominate you to be the single payer.

                      alt text

                      “Cry havoc and let slip the DOGE of war!”

                      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                      1 Reply Last reply
                      • G Offline
                        G Offline
                        George K
                        wrote on 8 Jun 2024, 22:18 last edited by
                        #232

                        D2 is down here from across the CheddarCurtain. We decided to order in Italian beef sammiches from my favorite place, Buona Beef. We last did this about a year ago.

                        5 pieces of bread
                        Italian beef
                        Sweet Peppers
                        Hot Peppers
                        Potato salad.

                        $44.95

                        Today...

                        Screenshot 2024-06-08 at 5.18.11 PM.png

                        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                        1 Reply Last reply
                        • L Offline
                          L Offline
                          LuFins Dad
                          wrote on 9 Jun 2024, 00:49 last edited by
                          #233

                          So it was 1¢ less?

                          The Brad

                          G 1 Reply Last reply 9 Jun 2024, 00:53
                          • L LuFins Dad
                            9 Jun 2024, 00:49

                            So it was 1¢ less?

                            G Offline
                            G Offline
                            George K
                            wrote on 9 Jun 2024, 00:53 last edited by
                            #234

                            @LuFins-Dad said in Bidenomics At Work:

                            So it was 1¢ less?

                            Same price, one less bowl of peppers (I used to get sweet AND hot) one less piece of bread (I used to get five), and probably less italian beef.

                            Shrinkflation.

                            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                            L 1 Reply Last reply 9 Jun 2024, 00:54
                            • G George K
                              9 Jun 2024, 00:53

                              @LuFins-Dad said in Bidenomics At Work:

                              So it was 1¢ less?

                              Same price, one less bowl of peppers (I used to get sweet AND hot) one less piece of bread (I used to get five), and probably less italian beef.

                              Shrinkflation.

                              L Offline
                              L Offline
                              LuFins Dad
                              wrote on 9 Jun 2024, 00:54 last edited by
                              #235

                              @George-K said in Bidenomics At Work:

                              @LuFins-Dad said in Bidenomics At Work:

                              So it was 1¢ less?

                              Same price, one less bowl of peppers (I used to get sweet AND hot) one less piece of bread (I used to get five), and probably less italian beef.

                              Shrinkflation.

                              Ahhh, I didn’t look closely enough at the packages.

                              The Brad

                              1 Reply Last reply
                              • G Offline
                                G Offline
                                George K
                                wrote on 5 Jul 2024, 14:53 last edited by
                                #236

                                BLS Jobs Report

                                https://www.bls.gov/news.release/pdf/empsit.pdf

                                The revisions:

                                The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000. With these revisions, employment in April and May combined is 111,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

                                "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                taiwan_girlT 1 Reply Last reply 5 Jul 2024, 16:15
                                • G George K
                                  5 Jul 2024, 14:53

                                  BLS Jobs Report

                                  https://www.bls.gov/news.release/pdf/empsit.pdf

                                  The revisions:

                                  The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000. With these revisions, employment in April and May combined is 111,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

                                  taiwan_girlT Offline
                                  taiwan_girlT Offline
                                  taiwan_girl
                                  wrote on 5 Jul 2024, 16:15 last edited by
                                  #237

                                  @George-K Thats a good thing, right? "Cooler" economy means less pressure on keeping interest rates high?

                                  This isn't actually something very new. Been happening for years, not just under President Biden.

                                  https://www.bls.gov/opub/btn/volume-2/revisions-to-jobs-numbers.htm

                                  The initial estimate of job change for a month is based on the growth or loss of jobs at the businesses that have reported their data. Generally, BLS assumes that the employment situation at businesses that had reported is representative of the situation at those that had not yet reported. BLS continues to collect outstanding reports from the businesses in the sample as it prepares a second and then a third estimate for the month. With each subsequent estimate, more businesses have provided their information. In 2012, the average collection rate at the time of the third estimate for a month was 94.6 percent. (See chart 1.)

                                  alt text

                                  So why doesn’t BLS wait until it has all the reports to make the estimate and avoid revisions? Users of the data are intensely interested in the earliest possible read on labor market developments, and experience suggests that the initial estimate is generally very good. For example, in 2012, the average monthly employment change using the first estimate would have been +142,000, compared with a monthly average change of +165,000 using the third estimate. (See table 1.) Nevertheless, it is true that in some months, revisions are large enough that they change the users’ perspectives on the current state of the economy. In November 2012, for example, the initial estimate of over-the-month change was +146,000, while the third estimate was +247,000.

                                  1 Reply Last reply
                                  • A Offline
                                    A Offline
                                    Axtremus
                                    wrote on 30 Jul 2024, 21:14 last edited by
                                    #238

                                    https://www.washingtonpost.com/business/2024/07/28/homeless-lack-of-affordable-housing-economy/

                                    Article on people who have jobs (even full time jobs) and are still homeless anyway (often due to rent being too high/unaffordable).

                                    1 Reply Last reply
                                    • J Offline
                                      J Offline
                                      Jolly
                                      wrote on 30 Jul 2024, 21:36 last edited by
                                      #239

                                      Because Biden jacked the interest rates and slowed the housing industry, coupled with a decrease in real wages during his administration?

                                      “Cry havoc and let slip the DOGE of war!”

                                      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                      taiwan_girlT 1 Reply Last reply 31 Jul 2024, 01:04
                                      • A Axtremus
                                        8 Jun 2024, 13:35

                                        About doing "multiple gig jobs" vs. "one full time job," while "one full time job" is easier and more more predictable day-to-day, the "multiple gig jobs" model is arguably lower risk long term because you won't be completely out of work and out of income because an employer goes bust or terminate you all of a sudden.

                                        Yeah, the Industrial Revolution somehow led to an abundance of jobs that are steady year round, it lifted the standard of living for the masses. It's good to have "one steady full time job", it's good to not have to worry about what to do with your next eight hours (because your employer planned it out for you). But why would one expect that model to last forever?

                                        A Offline
                                        A Offline
                                        Aqua Letifer
                                        wrote on 30 Jul 2024, 21:49 last edited by
                                        #240

                                        @Axtremus said in Bidenomics At Work:

                                        About doing "multiple gig jobs" vs. "one full time job," while "one full time job" is easier and more more predictable day-to-day, the "multiple gig jobs" model is arguably lower risk long term because you won't be completely out of work and out of income because an employer goes bust or terminate you all of a sudden.

                                        Ax, have you ever supported yourself through multiple gig jobs? I'd be very interested in hearing about your experiences.

                                        Please love yourself.

                                        1 Reply Last reply
                                        • J Jolly
                                          30 Jul 2024, 21:36

                                          Because Biden jacked the interest rates and slowed the housing industry, coupled with a decrease in real wages during his administration?

                                          taiwan_girlT Offline
                                          taiwan_girlT Offline
                                          taiwan_girl
                                          wrote on 31 Jul 2024, 01:04 last edited by
                                          #241

                                          @Jolly said in Bidenomics At Work:

                                          Biden jacked the interest rates

                                          I am pretty sure the US Central Bank is independent. One of the great things about it is that it has been able to maintain its independence, and (mostly) avoids politics,

                                          J 1 Reply Last reply 31 Jul 2024, 01:58
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