528,000 jobs added in July

Mott the Hoople said:
BTW, I haven’t seen you in a while (hope all is well with you and family) but WTF! USC and UCLA in the Big Ten? It just seems sooooo wrong. I don’t mean that in a pejorative manner either.

I mean what’s next? Notre Dame joining the Big 10? If that were to happen my father would roll in his grave.
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Hey! The same to you! Yeah, it’s crazy isn’t it? There have been issues with the PAC 12 and how poorly it has been run and how far behind it has fallen economically. So USC leaving doesn’t shock me as there have been people wanting us to leave internally. But with UCLA and to the Big 10? Still hasn’t sunken in. College football is clearly changing. It’s a very different world now and one I’m not a fan of but it is what it is I guess
 
Mott the Hoople said:
I wouldn’t exactly call increasing interest rates as something praise worth so much as doing there job. I would also argue that The Fed hasn’t been the main driver of inequality. That title belongs to 30+ years of supply side policies.
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I guess this would be for a separate discussion but how they handle rates and policies such as multiple QE’s very much drive decisions made in the economy (such as boosting asset values) which benefit the well to do and leave the working class further behind.
 
Cypress said:
Jobs report: U.S. economy adds 528,000 jobs in July, unemployment rate falls to 3.5%

The U.S. labor market remained robust in July, even as the Federal Reserve tightened monetary conditions and a growing number of companies scaled back on hiring and announced layoffs.

https://www.google.com/amp/s/financ...july-jobs-report-august-5-2022-123238307.html
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I know, and I just paid 3.99 for gas yesterday in WA state. Wow.. that bad economic news isn't that bad anymore... sowee twumptards. Eat poop!
 
Cypress said:
The MAGA contingent has been claiming economic disaster since at least March, if not earlier.
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Well, at least they've got the outcome of the Durham investigation to look forward to.. you know.. Durham.. the twuptard demon who was supposed to "bust open that deep state"?

Wait!

Oh..

Nevermind :)
 
Cypress said:
I've lived through every recession since the 1970s, and I don't remember one where job growth was booming and unemployment was falling.
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Me too. The weird thing is, I was so insulated each time. In the 70's I was still with my folks most of the time and even with the gas crisis, I don't think gas got much over .50/gal before the 80's.

During the S&L crash, I was gainfully employed and the company I was working for was owned by one of the S&L's that had to divest us from them, and we came out fine.

During that thing that happened at the end of the Bush admin.. I was employed with a company I suppose was insulated from the crisis.

So I was fortunate never to have suffered in an economic downturn.. let's keep it going, shall we?
 
Lionfish said:
Translated>China virus handout $$$$ ending.
6ow-2k3ihn_t3-jpg.1053179
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So weak.
 
cawacko said:
I guess this would be for a separate discussion but how they handle rates and policies such as multiple QE’s very much drive decisions made in the economy (such as boosting asset values) which benefit the well to do and leave the working class further behind.
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I don’t know if aging is making me cynical but I’m starting to feel that only a revolution will stop our descent into oligarchy and authoritarianism.

I guess we’ll see if I’m right when the political center and the middle class become radicalized. I just don’t think anything from a policy standpoint is going to change the path we’re headed on.

I don’t know now which is worse, the rights religious autocracy and caste system or the lefts obligatory paradise.

Either way we end up with a tyrannical authoritarianism.
 
Mott the Hoople said:
I don’t know if aging is making me cynical but I’m starting to feel that only a revolution will stop our descent into oligarchy and authoritarianism.

I guess we’ll see if I’m right when the political center and the middle class become radicalized. I just don’t think anything from a policy standpoint is going to change the path we’re headed on.

I don’t know now which is worse, the rights religious autocracy and caste system or the lefts obligatory paradise.

Either way we end up with a tyrannical authoritarianism.
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If it's a revolution you want it'll be the upper middle class-- the small business owners, professionals, skilled trades, and the like--that will cause it. They have the means, intellect, and skin in the game to actively oppose a dictatorship that seeks to take what they've worked to earn. The uber rich can move or buy off the dictatorship and remain right where they are. The working middle class and poor don't have the means on their own to assume leadership of a revolution. Instead, they'll be the foot soldiers recruited by the upper middle class to do the fighting.
 
T. A. Gardner said:
If it's a revolution you want it'll be the upper middle class-- the small business owners, professionals, skilled trades, and the like--that will cause it. They have the means, intellect, and skin in the game to actively oppose a dictatorship that seeks to take what they've worked to earn. The uber rich can move or buy off the dictatorship and remain right where they are. The working middle class and poor don't have the means on their own to assume leadership of a revolution. Instead, they'll be the foot soldiers recruited by the upper middle class to do the fighting.
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That’s pretty much true of all mass movements. That’s why I made that comment about the middle class becoming radicalized.

That’s not where we are at right now. Are we heading that way? If you listen to the news it would appear to be the case.

However we can both agree that if the middle class becomes radicalized then we’re in trouble!
 
Ummm... I would not get too thrilled about the jobs report.

In the last three months, the Establishment survey has stated that 1,312,000 jobs have been created in America.

https://www.bls.gov/news.release/empsit.b.htm

Yet the Household Survey - which the Unemployment Rate is based on - says America has LOST 86,000 jobs during that time.

https://www.bls.gov/news.release/archives/empsit_07082022.htm
https://www.bls.gov/news.release/empsit.a.htm

Plus, the Employment-Population Ratio is the same today as it was back in April...60.0%
Which is below what it was before Covid.
And WAY below what it was when the Great Recession hit.

https://www.bls.gov/charts/employment-situation/employment-population-ratio.htm

I HIGHLY doubt the jobs picture is as rosy as the Establishment Survey is stating it to be.


Once again, I despise both parties.
 
Mott the Hoople said:
I don’t know if aging is making me cynical but I’m starting to feel that only a revolution will stop our descent into oligarchy and authoritarianism.

I guess we’ll see if I’m right when the political center and the middle class become radicalized. I just don’t think anything from a policy standpoint is going to change the path we’re headed on.

I don’t know now which is worse, the rights religious autocracy and caste system or the lefts obligatory paradise.

Either way we end up with a tyrannical authoritarianism.
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When it comes to monetary policy though Bernanke was a Republican and Yellen a Democrat and yet they were basically the exact same when it came to policies they pursued. Understandably its not a subject most of us spend our time thinking about or debating (try leading off your next cocktail party conversation with "where do you think the Fed should go with interest rates next" and see how far that goes.) But it has played a major role in the continued inequality in our country.
 
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