Look, we live in a society (not just in the USA) and world where money is all, screwing the other person over is glorified, and people that achieve a penny more than their neighbor, coworker, or the guy across the globe are glorified. It's all about having one more penny or $10,000,000 than the next guy or gal. If it screws over someone else, more props because that shows the other guy was too weak or nice to worry about. We don't praise or adore or even look for a da Vinci or Michaelangelo or Tesla, we praise Jobs, Buffett, Gates, the bean counter in the office 1,000 miles away even if it costs a limb or the lack of rehab after a tragic accident at work. Because it's all about the $ today and celebrity names, that's all.
Society? Helping your neighbors and coworkers? Protecting them? Giving a crap about them? WEAKNESS say the oligarchs and their puppets in education, entertainment, government, and everywhere else.
And if anyone in these parts or elsewhere doubts the blind worship of the $ and those that crave it at all costs, well, they must be troublemakers and unemployable. Nope, turn on the TV and go to the big $ movies, read the corporate PR posing as "news," it's all about the $ and nothing else. This won't last, too many victims being destroyed in the wake of this madness.
Labor flows are not so simple. There are people entering the labor force due to immigration, legal and illegal and those coming of age and seeking a job. There are those leaving the labor force due to retirement, then people become sick, disabled, go to prison and join the military.
We know from the payrolls survey a huge percentage of new jobs are low paying ones in restaurants, leisure and hospitality.
while inventories for all manufacturing industries fell 0.4% in January, inventories for durable goods rose 0.4%, slightly less than the 0.5% inventory increases of each month in the fourth quarter...it was inventories of nondurable goods, which fell by 1.7%, that dragged down the total, but on a current dollar basis 13% of nondurable inventory was inventories at oil refineries, which were 11.3% lower in January after falling 11.4% in December...but prices for refinery products were down even more, with producer prices for gasoline off 24.0%, and prices for diesel fuel, home heating oil, and other distillates all falling more than 19%...hence, we can say that real inventories at refineries were probably up 8%, and maybe more...and if we subtract refinery inventories from other non-durable goods, we find other inventories were only down a bit over 0.1%...but factory prices for most of those non-durable goods fell as well, as producer prices for food were down 1.1% in January, while core producer prices were down 0.2%...since food and beverage inventories account for roughly 30% of non-durable inventories, and chemical inventories, which were down 9.2% in price, account for another 34% of the total, we can confidentially say there was a substantial build of real non-durable inventories in January as well...
Over 11 million more are "not in the labor force" since the Great Recession officially ended in June 2009 --- about the same number of jobs that were created during that same period time. What does this mean? That 50% of new entrants are finding temp or low-paying jobs, while the other 50% are dropping out of the labor force?
A stimulus recipient should have a viable chance of running on its own power. The Obama stimulus appeared to funnel money into projects that either on their own on in conjunction with ancillaries had little chance of starting up and running. The stimulus money was simply relegated to operating funds.
This is just your philosophy and has little to do with real economics. A long rambling with a few concepts thrown in to try to claim Keynes isn't valid which most of it clearly is. Enough!
Isn't it classic that they choose groups of people who are too ill, disabled, senile and so on to stand up for their rights and speak out? It's despicable and great investigative digging, this kind of reporting has gotten cut from budgets right and left, but should be the main focus of the media.
Your comment is correct, but mine was meant to address a different point (i.e. economy not a full empl). Take a look at http://en.wikipedia.org/wiki/Stagflation Note the comment about Keynes macro and the implication. Rising unemployment with rising inflation wasn't suppose to be possible under mainstream Keynes as I understood (thus my "unglued" comment). It meant that the 70s exposed a big theoretical flaw in mainstream Keynesianism that had no answer. Unless my memory fails me, most textbooks make this argument. Of course there are many disagreements about what Keynes was really saying thus the many spins in the form of Post Keynesians, New Keynesian, neoclassical synthesis, etc. best regards
There is no comparison to what Congress/Obama did and stimulus as prescribed by Keynesian economics. First, there was no closed loop to ensure only U.S. goods and services were used. Millions poured out to other countries, stimulating their economies and worse, hires went to foreign guest workers, not U.S. citizens, the taxpayers.
Next, it was bullet riddled with corruption, such as Solyndra and pet projects which were not stimulative or even hired one American. In the bigger picture, the money went to fat cats connected and not distributed down to the real people and small businesses. To see stimulative programs which were Keynesian you have to go to the New Deal and the Marshall Plan.
It shows when an economy is at full potential, inflation will happen and stall out the economy. Nothing unusual at all about it. Keynesian works and by the math it does.
Goldman Sachs CEO just said income inequality is destabilizing the U.S. Yes, that's right mega bonus greedy Wall Street, HFT nightmare, playing the carry trade, it's a land of elites and serfs.
Wow! Whereas, The Wall Street Journal reported China's economy expanded at 7.4% in 2014 — and that was the slowest in decades! But Bloomberg also reports that it could be much higher. China's economy has already overtaken the U.S. to be the world's largest economy — lifting 500,000 of their people into the middle-class. And by 2022, China could have over 630 million — while the U.S. middle-class continues to decline.
the deflator was revised from negative to positive 0.1%, and hence the change in current dollar GDP was only revised down by 0.2%, from 2.5% in the advance estimate to 2.3% in this estimate...the deflator for goods was revised from -5.3% to -4.9%, while the deflator for services was revised from 2.0% to 1.8%...current dollar spending for goods was actually $5.4 billion lower in the 4th quarter than in the 3rd..
price indexes for other components saw large revisions as well...dont know how common that is, since i hadnt paid that close attention to it until this quarter...
The article states that fraud at DI is only 0.04%. But when you go to the link that supports that number you find that it is 0.4%. So an extra zero was added to make it appear that fraud is not an issue.
.4% on the $147B of DI benefits comes to $600,000,000 a year. That seems like a lot of fraud to me, hardly the rounding error suggested here.
This billionaire Governor taxed the rich and increased the minimum wage -- Now, his State's economy is one of the best in the country: "It's official -- trickle-down economics is bunk. Minnesota has proven it once and for all. If you believe otherwise, you are wrong."
(* Interesting article, with some interesting links within -- such as the one about online voting.)
Mega-supply store Home Depot plans to add about 80,000 temporary workers for the spring season. At Home Depot, hiring occurs each spring when the company brings in temp workers for around three months. In this regard, it's no different than any other retailer, says Stephan Holmes, a Home Depot spokesman. http://www.marketplace.org/topics/business/home-depot-goes-temp-worker-h...
Look, we live in a society (not just in the USA) and world where money is all, screwing the other person over is glorified, and people that achieve a penny more than their neighbor, coworker, or the guy across the globe are glorified. It's all about having one more penny or $10,000,000 than the next guy or gal. If it screws over someone else, more props because that shows the other guy was too weak or nice to worry about. We don't praise or adore or even look for a da Vinci or Michaelangelo or Tesla, we praise Jobs, Buffett, Gates, the bean counter in the office 1,000 miles away even if it costs a limb or the lack of rehab after a tragic accident at work. Because it's all about the $ today and celebrity names, that's all.
Society? Helping your neighbors and coworkers? Protecting them? Giving a crap about them? WEAKNESS say the oligarchs and their puppets in education, entertainment, government, and everywhere else.
And if anyone in these parts or elsewhere doubts the blind worship of the $ and those that crave it at all costs, well, they must be troublemakers and unemployable. Nope, turn on the TV and go to the big $ movies, read the corporate PR posing as "news," it's all about the $ and nothing else. This won't last, too many victims being destroyed in the wake of this madness.
Labor flows are not so simple. There are people entering the labor force due to immigration, legal and illegal and those coming of age and seeking a job. There are those leaving the labor force due to retirement, then people become sick, disabled, go to prison and join the military.
We know from the payrolls survey a huge percentage of new jobs are low paying ones in restaurants, leisure and hospitality.
while inventories for all manufacturing industries fell 0.4% in January, inventories for durable goods rose 0.4%, slightly less than the 0.5% inventory increases of each month in the fourth quarter...it was inventories of nondurable goods, which fell by 1.7%, that dragged down the total, but on a current dollar basis 13% of nondurable inventory was inventories at oil refineries, which were 11.3% lower in January after falling 11.4% in December...but prices for refinery products were down even more, with producer prices for gasoline off 24.0%, and prices for diesel fuel, home heating oil, and other distillates all falling more than 19%...hence, we can say that real inventories at refineries were probably up 8%, and maybe more...and if we subtract refinery inventories from other non-durable goods, we find other inventories were only down a bit over 0.1%...but factory prices for most of those non-durable goods fell as well, as producer prices for food were down 1.1% in January, while core producer prices were down 0.2%...since food and beverage inventories account for roughly 30% of non-durable inventories, and chemical inventories, which were down 9.2% in price, account for another 34% of the total, we can confidentially say there was a substantial build of real non-durable inventories in January as well...
Over 11 million more are "not in the labor force" since the Great Recession officially ended in June 2009 --- about the same number of jobs that were created during that same period time. What does this mean? That 50% of new entrants are finding temp or low-paying jobs, while the other 50% are dropping out of the labor force?
A stimulus recipient should have a viable chance of running on its own power. The Obama stimulus appeared to funnel money into projects that either on their own on in conjunction with ancillaries had little chance of starting up and running. The stimulus money was simply relegated to operating funds.
This is just your philosophy and has little to do with real economics. A long rambling with a few concepts thrown in to try to claim Keynes isn't valid which most of it clearly is. Enough!
Isn't it classic that they choose groups of people who are too ill, disabled, senile and so on to stand up for their rights and speak out? It's despicable and great investigative digging, this kind of reporting has gotten cut from budgets right and left, but should be the main focus of the media.
After the "Great Recession" we got the "Great Deception"
@TruthOut
http://www.truth-out.org/news/item/29447-what-trickle-down-economics-has...
Robert
Your comment is correct, but mine was meant to address a different point (i.e. economy not a full empl). Take a look at http://en.wikipedia.org/wiki/Stagflation Note the comment about Keynes macro and the implication. Rising unemployment with rising inflation wasn't suppose to be possible under mainstream Keynes as I understood (thus my "unglued" comment). It meant that the 70s exposed a big theoretical flaw in mainstream Keynesianism that had no answer. Unless my memory fails me, most textbooks make this argument. Of course there are many disagreements about what Keynes was really saying thus the many spins in the form of Post Keynesians, New Keynesian, neoclassical synthesis, etc. best regards
There is no comparison to what Congress/Obama did and stimulus as prescribed by Keynesian economics. First, there was no closed loop to ensure only U.S. goods and services were used. Millions poured out to other countries, stimulating their economies and worse, hires went to foreign guest workers, not U.S. citizens, the taxpayers.
Next, it was bullet riddled with corruption, such as Solyndra and pet projects which were not stimulative or even hired one American. In the bigger picture, the money went to fat cats connected and not distributed down to the real people and small businesses. To see stimulative programs which were Keynesian you have to go to the New Deal and the Marshall Plan.
It shows when an economy is at full potential, inflation will happen and stall out the economy. Nothing unusual at all about it. Keynesian works and by the math it does.
'Trickle Down Economic' does work! As far as economics goes,,, Its golden and it comes from above,,, But it sure smells like Piss to me...
Q3 was a blow out but Q1 went negative.
Goldman Sachs CEO just said income inequality is destabilizing the U.S. Yes, that's right mega bonus greedy Wall Street, HFT nightmare, playing the carry trade, it's a land of elites and serfs.
Wow! Whereas, The Wall Street Journal reported China's economy expanded at 7.4% in 2014 — and that was the slowest in decades! But Bloomberg also reports that it could be much higher. China's economy has already overtaken the U.S. to be the world's largest economy — lifting 500,000 of their people into the middle-class. And by 2022, China could have over 630 million — while the U.S. middle-class continues to decline.
the deflator was revised from negative to positive 0.1%, and hence the change in current dollar GDP was only revised down by 0.2%, from 2.5% in the advance estimate to 2.3% in this estimate...the deflator for goods was revised from -5.3% to -4.9%, while the deflator for services was revised from 2.0% to 1.8%...current dollar spending for goods was actually $5.4 billion lower in the 4th quarter than in the 3rd..
price indexes for other components saw large revisions as well...dont know how common that is, since i hadnt paid that close attention to it until this quarter...
That was a typo -- I wasn't attempting to mislead. As you can see, I correctly quoted this number (0.4%) in another post I did on this subject. But thanks for bringing that to my attention.
http://www.economicpopulist.org/content/there-fraud-disability-or-gop-5658
Any fraud is bad, but putting $600k in comparison to the fraud we have with defense contractors is tiny by comparison. Lockheed Martin CEO Robert Stevens gets paid $21.9 million a year.
http://bud-meyers.blogspot.com/2011/11/defense-spending-bogus-parts.html
The article states that fraud at DI is only 0.04%. But when you go to the link that supports that number you find that it is 0.4%. So an extra zero was added to make it appear that fraud is not an issue.
.4% on the $147B of DI benefits comes to $600,000,000 a year. That seems like a lot of fraud to me, hardly the rounding error suggested here.
This billionaire Governor taxed the rich and increased the minimum wage -- Now, his State's economy is one of the best in the country: "It's official -- trickle-down economics is bunk. Minnesota has proven it once and for all. If you believe otherwise, you are wrong."
(* Interesting article, with some interesting links within -- such as the one about online voting.)
http://www.huffingtonpost.com/carl-gibson/mark-dayton-minnesota-economy_...
"The types of jobs that pay middle-class wages — between $40,000 and $80,000 in 2014 dollars — have shifted since 1980."
http://www.ritholtz.com/blog/2015/02/the-changing-nature-of-middle-class...
Free the middle class (Op-ed by Elizabeth Warren and Elijah Cummings on February 23, 2015)
http://www.usatoday.com/story/opinion/2015/02/23/middle-class-prosperity...
Mega-supply store Home Depot plans to add about 80,000 temporary workers for the spring season. At Home Depot, hiring occurs each spring when the company brings in temp workers for around three months. In this regard, it's no different than any other retailer, says Stephan Holmes, a Home Depot spokesman.
http://www.marketplace.org/topics/business/home-depot-goes-temp-worker-h...
*Remember that JOLTS report?
Home Depot also said it would buy back $18 billion in shares.
http://www.nytimes.com/2015/02/25/business/west-coast-port-gridlock-hits...
Meanwhile, Home Depot's "sales associates" earn $8.42 an hour.
http://bud-meyers.blogspot.com/2013/03/greedy-bigoted-home-depot-co-foun...
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