the commodity indexes continue to bounce around 16 year lows, prices for core CPI goods are down 0.6% year over year, and PCE durable goods haven't put back to back monthly price increases together in years...meanwhile, the price index for core services is up 2.9% from a year ago
* Bernie Sanders wants to tax capital gains (currently taxed at 23.8% — which was 40% in 1979) the same as ordinary income.
* Bernie Sanders wants to raise the top marginal rate on ordinary income (wages) — possibly from 39.6% to 50% on individuals with annual incomes over $413,000 a year (but not as high as 90% — as the GOP claims.)
* Bernie Sanders want's to lower the estate tax threshold to $3.5 million (Currently it's $5.3 million per parent.)
Openings exceeding hires is probably a good thing for workers but a bad thing for inflation. The news is full of reports of trucker shortages, construction worker shortages, and even Walmart raising wages to keep competitive. The companies hold off at first hoping to get someone at their current salary and eventually give in and raise pay for everyone. This is just the beginning of wage inflation I think. It will be 4% soon enough.
If you notice, CNN, FOX, MSNBC are not news and more and more either are the network news channels. They just give "opinion" on almost everything instead of reporting the news and doing any real research Journalism. Many read the press release verbatim on air and then we have "paid" "experts" who also are often paid by corporations, political backers and so on. It's such a shame but we have product placement in the evening news these days.
We are all "entitled" to have a genuine opportunity for a decent job (better than "shitty"). At least as entitled as a corporation is to make a large profit, and a CEO to live in a mansion. Haven't we created our society to benefit everyone?? If not, we need to redo things.
*Newsflash!* Shitty jobs exist, some people take them, some refuse. It looks like this awful development has been going on... since the beginning of time.
No one is entitled to a good job.
No one is entitled to a job.
It has always been this way. Having outrage now, doesn't change this fact.
We overview this stuff and no surprise, even with weak demand and a huge reduction in oil imports, the deficit rises...yet nothing seems to impact, ever, policy for working people.
i've just posted an evaluation of my earlier forecasts regarding this revision, titled "On Estimating the Revisions to GDP Before They're Released. there is nothing particularly new there, but quite a bit of detail on how some of the monthly economic reports resulted in the revisions described above...
The two are not the same thing at all, seasonal are already adjusted although that large will cause an increase in comparison to past years I think. But permanent and seasonal are two separate things.
that's what it says right under CES0000000001 on your second link...
that means the numbers are massaged to remove seasonal effects...
month to month swings of a million jubs in the unadjusted data are not uncommon...
here's a table with both listed: http://www.bls.gov/news.release/empsit.t17.htm
it will be updated with November data on Friday...
i wouldn't be surprised to see a 700,000 jump in the unadjusted payroll numbers then..
both price indexes use the same price data collected by Census agents; ie, we don't have separate agencies doing that work....the major difference between the CPI and PCE index is the weighting of health care and rent; housing including utilities is about 40% of the CPI, vs about 18% of PCE...PCE weighs healthcare around 17%, twice it's weight in the CPI...
McBride: The PCE price index increased 0.2 percent year-over-year due to the sharp decline in oil prices.
E-Populist: The Consumer Price Index increased by 0.2% for October as energy price declines abated.
McBride: The core PCE price index (excluding food and energy) increased 1.3 percent year-over-year in October.
E-Populist: From a year ago overall CPI has increased 0.2%, which is very low, yet without energy and food considered, prices have increased 1.9%.
* But either way, if you don't drive (but still eat, like many seniors), you won't fair so well next year without a COLA if you rely on Social Security — especially if drug prices and other healthcare costs increase.
The California Public Employees’ Retirement System (CalPERS) said it paid $3.4 billion in performance fees to its private equity managers since 1990 while the controversial sector generated $24.2 billion in profits for retirees.
They won't do anything about corporate welfare because the U.S. government is owned, lock, stock, barrel, by the same corporations.
the commodity indexes continue to bounce around 16 year lows, prices for core CPI goods are down 0.6% year over year, and PCE durable goods haven't put back to back monthly price increases together in years...meanwhile, the price index for core services is up 2.9% from a year ago
* Bernie Sanders wants to tax capital gains (currently taxed at 23.8% — which was 40% in 1979) the same as ordinary income.
* Bernie Sanders wants to raise the top marginal rate on ordinary income (wages) — possibly from 39.6% to 50% on individuals with annual incomes over $413,000 a year (but not as high as 90% — as the GOP claims.)
* Bernie Sanders want's to lower the estate tax threshold to $3.5 million (Currently it's $5.3 million per parent.)
The "Feel the Bern" website has more, including his plan for corporations.
http://feelthebern.org/bernie-sanders-on-economic-inequality/#fixing-the...
And at Bernie's website he has more about Income and Wealth Inequality
https://berniesanders.com/issues/income-and-wealth-inequality/
I have to review why they believe that won't risk deflation, probably claiming the decrease is all about gasoliine/oil.
Openings exceeding hires is probably a good thing for workers but a bad thing for inflation. The news is full of reports of trucker shortages, construction worker shortages, and even Walmart raising wages to keep competitive. The companies hold off at first hoping to get someone at their current salary and eventually give in and raise pay for everyone. This is just the beginning of wage inflation I think. It will be 4% soon enough.
If you notice, CNN, FOX, MSNBC are not news and more and more either are the network news channels. They just give "opinion" on almost everything instead of reporting the news and doing any real research Journalism. Many read the press release verbatim on air and then we have "paid" "experts" who also are often paid by corporations, political backers and so on. It's such a shame but we have product placement in the evening news these days.
I was about to write an article on what the Fed rate increase means but you put it much more succinctly.
Now watch credit cards jack up rates by using this as an excuse.
We are all "entitled" to have a genuine opportunity for a decent job (better than "shitty"). At least as entitled as a corporation is to make a large profit, and a CEO to live in a mansion. Haven't we created our society to benefit everyone?? If not, we need to redo things.
*Newsflash!* Shitty jobs exist, some people take them, some refuse. It looks like this awful development has been going on... since the beginning of time.
No one is entitled to a good job.
No one is entitled to a job.
It has always been this way. Having outrage now, doesn't change this fact.
We overview this stuff and no surprise, even with weak demand and a huge reduction in oil imports, the deficit rises...yet nothing seems to impact, ever, policy for working people.
People usually go by percentage point contribution or annualized percent change. Just FYI but nice explanation.
ADP reports companies had added 217,000 jobs in November. Service sector firms added 204,000, while manufacturers hired just 6,000.
http://www.adpemploymentreport.com/2015/November/NER/NER-November-2015.aspx
* Was this uptick in service jobs (as usual) because of temp hiring for the holidays?
i've just posted an evaluation of my earlier forecasts regarding this revision, titled "On Estimating the Revisions to GDP Before They're Released. there is nothing particularly new there, but quite a bit of detail on how some of the monthly economic reports resulted in the revisions described above...
The two are not the same thing at all, seasonal are already adjusted although that large will cause an increase in comparison to past years I think. But permanent and seasonal are two separate things.
that's what it says right under CES0000000001 on your second link...
that means the numbers are massaged to remove seasonal effects...
month to month swings of a million jubs in the unadjusted data are not uncommon...
here's a table with both listed: http://www.bls.gov/news.release/empsit.t17.htm
it will be updated with November data on Friday...
i wouldn't be surprised to see a 700,000 jump in the unadjusted payroll numbers then..
Can that be right?
New York Times: "Retailers have hired an extra 700,000 seasonal workers this season, according to the National Retail Federation."
http://www.nytimes.com/2015/11/27/business/black-friday-retail-workers-t...
The Bureau of Labor Statistics reports a total 784,000 jobs created over the last 4 months.
http://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
I recall a previous inventory chg rate (deceleration) has fairly wide revisions. TBD I guess.
both price indexes use the same price data collected by Census agents; ie, we don't have separate agencies doing that work....the major difference between the CPI and PCE index is the weighting of health care and rent; housing including utilities is about 40% of the CPI, vs about 18% of PCE...PCE weighs healthcare around 17%, twice it's weight in the CPI...
* But either way, if you don't drive (but still eat, like many seniors), you won't fair so well next year without a COLA if you rely on Social Security — especially if drug prices and other healthcare costs increase.
http://www.calculatedriskblog.com/2015/11/personal-income-increased-04-in-october.html
The California Public Employees’ Retirement System (CalPERS) said it paid $3.4 billion in performance fees to its private equity managers since 1990 while the controversial sector generated $24.2 billion in profits for retirees.
http://www.latimes.com/business/la-fi-calpers-private-equity-fees-201511...
Related (from earlier) Senator Warren Launches Investigation of Rewards and Incentives Offered to Annuities Dealers Advising Retirees
http://www.warren.senate.gov/?p=press_release&id=800
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