That's really bad for us then! Just updated this article on the various closures. For data, we might be able to get quite a bit from other sources. I believe the Fed is funded, separate, so open for business, although no updated or new data and not all series are available. Something.
We should take this time to dig around in the latest long term economic research and studies.
Federal workers are like anyone else and this is pounding them on income. About 300,000 lost their jobs in the sequester.
At 10:30pm EST, looking bad. We need some major reforms on how Congress is run and even redistricting. No district shall be formed with a percentage > 60% of one party. That's our biggest problem, they could run a corpse in many of these districts and if the party membership matches most in the local population, that corpse will be elected.
This is pretty incredible but the Obama administration is saying if the government is shut down economic releases will not be issued. Now this seems like BS for this report is no doubt already calculated and it's a matter of hitting "make pdf" and hitting "make public" on their website.
Plus the goal to count offshore outsourcers as manufacturing and intellectual property, most likely parked in SPVs in the Caymans as U.S. economic growth, I am completely disgusted in reviewing these economic reports.
See a pattern? We're getting further and further away from the truth of the U.S. economy and what is really going on.
That was the big news of the PCE, the declining inflation figures, good catch and so glad you took up the slack as I stood down just well, disgusted!
i did a sketchy coverage of the GDP reviision; as you say, not much changed...however, the deflator for personal consumption expenditures, which the Fed has targeted at 2.5%, now actually fell at a annual rate of 0.1% in the 2nd quarter, rather than unchanged as previously reported...
you are so way off base it's beyond belief. Most people, my parents included (silent generation) just wanted to be paid a living wage for their labor. And due to many different variables after WWII, they got just that. Not only did my mother and father do better than their parents, they achieved what in America what before and now is impossible...a broad middle class
I agree, there are millions of Americans who have witnessed labor arbitrage and offshore outsourcing, if they were not a victim themselves.
The evidence is overwhelming, yet somehow, we need studies to state it over and over again while this government is in partnership with corporate America to destroy working America.
Your lack of reasoning defies facts. The U.S. middle class was strongest when the U.S. had the most progressive tax code. In other words, wealth redistribution through the U.S. tax code, set in place starting with FDR and staying in place during the 1960's.
It never ceases to amaze me how wrong so many Americans are on the facts and we'll blame those ridiculous talking heads on radio and TV feeding you lies.
Let's face it you Can't make a Poor man Rich. How many Poor people have won the Lottery and are Now Broke. Rich People only invest when they know something the average person does not know. We are Not privy to that information. How to change that I don't know. But sharing the Wealth only makes the Middle Class more Poor.
The AP reports that at least 65,000 bridges in the US that are "structurally deficient" and over 20,000 more are "fracture critical," meaning that the failure of one component could lead to a collapse, as we saw in the I-5 bridge over the Skagit River in Washington state last spring. Worst of all, an appalling 7,795 bridges were found to be both “structurally deficient” and “fracture critical”—a combination that shows significant disrepair and risk of collapse. Simply put, critical infrastructure threatens the safety of Americans nationwide, but Republicans are more interested in keeping the Tea Party happy than they are in the basic governance required to address this crisis. A government shutdown is exactly the opposite of what we need right now. We need to fix American roads and bridges instead of shutting down our government.
Blows my mind that they needed an economic study by a think tank to determine this.
Being a newly minted engineer in 1994, at my first job at a company in the formerly industrious state of Connecticut, I watched in 1995 as they dismantled the entire assembly department and sent all the jobs to Mexico, I witnessed management break the union, I watched management sack a general manager and install a new one who stated his goal was to turnover 30% of the salaried workforce (easily achieved).
At the time of this writing, the factory building I started my first job after college has been knocked down and the small number of US sales and engineering workers moved to a small office space. ALL the commercial assembly and the bulk of the design engineering is now in china.
Do you think I had a bit of buyers remorse in getting the college degree in engineering?
I didn't need a study to tell me things didn't look to good. This had a tremendous impact on how I lived my personal life, from having children to buying a home.
I never did understand the left's support of "Free trade", Reich and Krugman included... from a political point of view, by the late '80's the democrats decided that they also needed to be the party of wall street since their traditional base of unions and older new dealers were dying off... so since they we're dragged to the right on economic issues by republicans they did just that to win elections
To me, the only unencumbered totally FREE market in the US is the labor market. There are no protections or bargaining power left for those of us who sell our time for money to live on.
Sen. John McCain (who's usually only too happy to back bloated Pentagon spending) called out the F-35 program as "worse than a disgrace" and "still one of the great national scandals that we have ever had, as far as the expenditure of taxpayer's dollars are concerned." http://www.dodbuzz.com/2013/09/19/mccain-f-35-among-the-great-national-s...
It would be better if they worked even less. Good God, this is so absurd. They try to pass a massive flooding of the U.S. with foreign labor under the guise of immigration reform, they try to starve America and they want to be such screw ups they risk America's credit rating.
Can you imagine if Congress "worked more" what most disasters would happen?
That's really bad for us then! Just updated this article on the various closures. For data, we might be able to get quite a bit from other sources. I believe the Fed is funded, separate, so open for business, although no updated or new data and not all series are available. Something.
We should take this time to dig around in the latest long term economic research and studies.
i just tried census and BEA...both have shut down notices...you cant even look at last week's GDP report:
Due to the lapse in government funding, www.bea.gov will be unavailable until further notice. This includes access to all data and the e-File system.
We sincerely regret this inconvenience.
Federal workers are like anyone else and this is pounding them on income. About 300,000 lost their jobs in the sequester.
At 10:30pm EST, looking bad. We need some major reforms on how Congress is run and even redistricting. No district shall be formed with a percentage > 60% of one party. That's our biggest problem, they could run a corpse in many of these districts and if the party membership matches most in the local population, that corpse will be elected.
Bill McBride, who is the last one to be alarmist, has warned of the possibility a few times...the last shut down the jobs report was delayed 2 weeks...
This is pretty incredible but the Obama administration is saying if the government is shut down economic releases will not be issued. Now this seems like BS for this report is no doubt already calculated and it's a matter of hitting "make pdf" and hitting "make public" on their website.
eric cantor is a self serving elitist. he is a smug arrogant piece of shit.
how the hell do we elect people like this?
click on any graph you're having trouble viewing; all my graphs are linked to a larger version
Plus the goal to count offshore outsourcers as manufacturing and intellectual property, most likely parked in SPVs in the Caymans as U.S. economic growth, I am completely disgusted in reviewing these economic reports.
See a pattern? We're getting further and further away from the truth of the U.S. economy and what is really going on.
That was the big news of the PCE, the declining inflation figures, good catch and so glad you took up the slack as I stood down just well, disgusted!
Good info, graphs could benefit from larger fonts.
Thanks for posting. :-)
i did a sketchy coverage of the GDP reviision; as you say, not much changed...however, the deflator for personal consumption expenditures, which the Fed has targeted at 2.5%, now actually fell at a annual rate of 0.1% in the 2nd quarter, rather than unchanged as previously reported...
I didn't cover either this month for the 3rd revision to GDP is minor and PCE was the same sluggish spending with the same sluggish income.
I'm getting sick of PCE too for it doesn't show that most of the income gains are to the super rich, not regular people.
based on the Census count of households, US wealth averages $651,970 per household; so everyone with less is below average...
you are so way off base it's beyond belief. Most people, my parents included (silent generation) just wanted to be paid a living wage for their labor. And due to many different variables after WWII, they got just that. Not only did my mother and father do better than their parents, they achieved what in America what before and now is impossible...a broad middle class
I agree, there are millions of Americans who have witnessed labor arbitrage and offshore outsourcing, if they were not a victim themselves.
The evidence is overwhelming, yet somehow, we need studies to state it over and over again while this government is in partnership with corporate America to destroy working America.
Your lack of reasoning defies facts. The U.S. middle class was strongest when the U.S. had the most progressive tax code. In other words, wealth redistribution through the U.S. tax code, set in place starting with FDR and staying in place during the 1960's.
It never ceases to amaze me how wrong so many Americans are on the facts and we'll blame those ridiculous talking heads on radio and TV feeding you lies.
Let's face it you Can't make a Poor man Rich. How many Poor people have won the Lottery and are Now Broke. Rich People only invest when they know something the average person does not know. We are Not privy to that information. How to change that I don't know. But sharing the Wealth only makes the Middle Class more Poor.
The AP reports that at least 65,000 bridges in the US that are "structurally deficient" and over 20,000 more are "fracture critical," meaning that the failure of one component could lead to a collapse, as we saw in the I-5 bridge over the Skagit River in Washington state last spring. Worst of all, an appalling 7,795 bridges were found to be both “structurally deficient” and “fracture critical”—a combination that shows significant disrepair and risk of collapse. Simply put, critical infrastructure threatens the safety of Americans nationwide, but Republicans are more interested in keeping the Tea Party happy than they are in the basic governance required to address this crisis. A government shutdown is exactly the opposite of what we need right now. We need to fix American roads and bridges instead of shutting down our government.
Blows my mind that they needed an economic study by a think tank to determine this.
Being a newly minted engineer in 1994, at my first job at a company in the formerly industrious state of Connecticut, I watched in 1995 as they dismantled the entire assembly department and sent all the jobs to Mexico, I witnessed management break the union, I watched management sack a general manager and install a new one who stated his goal was to turnover 30% of the salaried workforce (easily achieved).
At the time of this writing, the factory building I started my first job after college has been knocked down and the small number of US sales and engineering workers moved to a small office space. ALL the commercial assembly and the bulk of the design engineering is now in china.
Do you think I had a bit of buyers remorse in getting the college degree in engineering?
I didn't need a study to tell me things didn't look to good. This had a tremendous impact on how I lived my personal life, from having children to buying a home.
I never did understand the left's support of "Free trade", Reich and Krugman included... from a political point of view, by the late '80's the democrats decided that they also needed to be the party of wall street since their traditional base of unions and older new dealers were dying off... so since they we're dragged to the right on economic issues by republicans they did just that to win elections
To me, the only unencumbered totally FREE market in the US is the labor market. There are no protections or bargaining power left for those of us who sell our time for money to live on.
thank you
The F-35 is the most expensive weapon ever built. But according to a damning new article in Vanity Fair Magazine: It can't fly at night, can't fly in bad weather, and definitely cannot fight.
http://www.vanityfair.com/politics/2013/09/joint-strike-fighter-lockheed...
Sen. John McCain (who's usually only too happy to back bloated Pentagon spending) called out the F-35 program as "worse than a disgrace" and "still one of the great national scandals that we have ever had, as far as the expenditure of taxpayer's dollars are concerned."
http://www.dodbuzz.com/2013/09/19/mccain-f-35-among-the-great-national-s...
It would be better if they worked even less. Good God, this is so absurd. They try to pass a massive flooding of the U.S. with foreign labor under the guise of immigration reform, they try to starve America and they want to be such screw ups they risk America's credit rating.
Can you imagine if Congress "worked more" what most disasters would happen?
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