April was best month in history for U.S. budget, according to CBO figures

SGaynor

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Middle Class Shrinking… As Households Become Richer
Interesting. No doubt people are making more then ever before, but I think their data is a bit skewed. They define household income > $100k as "rich" (the Census Bureau says >$150K is "high income.").

I don't know of any two income families where both parents make $50k (say, a nurse and a mechanic) would classify themselves as "rich."
 

gimebakmybulits

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Interesting. No doubt people are making more then ever before, but I think their data is a bit skewed. They define household income > $100k as "rich" (the Census Bureau says >$150K is "high income.").

I don't know of any two income families where both parents make $50k (say, a nurse and a mechanic) would classify themselves as "rich."
Show me where it says "rich".... This is part your problem....
"According to the most recent data from the U.S. Census Bureau, in 2018, over 30 percent of U.S. households earned over $100,000 (i.e., the upper class). Fewer than 30 percent of households earned between $50,000 and $100,000 (i.e., the middle class). The share of U.S. households making at least $100,000 has more than tripled since 1967, when just 9 percent of all U.S. households earned that much (all figures are adjusted for inflation)."
 

SGaynor

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Show me where it says "rich".... This is part your problem....
"According to the most recent data from the U.S. Census Bureau, in 2018, over 30 percent of U.S. households earned over $100,000 (i.e., the upper class). Fewer than 30 percent of households earned between $50,000 and $100,000 (i.e., the middle class). The share of U.S. households making at least $100,000 has more than tripled since 1967, when just 9 percent of all U.S. households earned that much (all figures are adjusted for inflation)."
Sigh...

You forgot to read the paragraph immediately before what you quoted:

This is hardly a new trend. As I wrote in 2016, the middle class is shrinking due to growth in rich households. When I last wrote on that topic, though, there were still more middle-class households than rich households.

From the graph in the link, you can see the author broke everyone up into to three groups: Lower class (<$50k), middle class ($50-100k) and upper class (>$100K). Since the author is talking about how the number of "rich households" (upper class) now exceeds the middle households (middle class), one can easily deduce that when she said "upper class" she was referring to said "rich households."

#ReadingComprehension #RIF
 

gimebakmybulits

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Sigh...

You forgot to read the paragraph immediately before what you quoted:

This is hardly a new trend. As I wrote in 2016, the middle class is shrinking due to growth in rich households. When I last wrote on that topic, though, there were still more middle-class households than rich households.

From the graph in the link, you can see the author broke everyone up into to three groups: Lower class (<$50k), middle class ($50-100k) and upper class (>$100K). Since the author is talking about how the number of "rich households" (upper class) now exceeds the middle households (middle class), one can easily deduce that when she said "upper class" she was referring to said "rich households."

#ReadingComprehension #RIF
No dumbass, use the fucking data. Income is increasing and your only rebuttal is "you think their data is skewed" so instead of producing a data set that backs up your statement you try to shift attention to where you think the dividing line between middle and upper class should be ......simply because you've got no valid counterpoint ... You truly are incapable of doing anything other than talking out your ass
 

SGaynor

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No dumbass, use the fucking data. Income is increasing and your only rebuttal is "you think their data is skewed" so instead of producing a data set that backs up your statement you try to shift attention to where you think the dividing line between middle and upper class should be ......simply because you've got no valid counterpoint ... You truly are incapable of doing anything other than talking out your ass
So you are still arguing that the threshold for a household to be considered upper class, aka rich, is $100k? Got it.

(that's why her percentage of "middle" went down and "upper" went up. Not hard to fathom.)
 

brian4d

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Just wait until the Dems find out they took Trumps Ukraine bait hook line and sinker and were fooled. Then watch Trumps polls numbers rise to 60%. This is the ultimate play! Who else has been paying attention to Trump using the phrase 'presidential harassment' lately. That's not a coincidence.
 

SGaynor

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Just wait until the Dems find out they took Trumps Ukraine bait hook line and sinker and were fooled. Then watch Trumps polls numbers rise to 60%. This is the ultimate play! Who else has been paying attention to Trump using the phrase 'presidential harassment' lately. That's not a coincidence.
Yeah. Smart strategy there.

Get impeached to...what? Claim you were “harassed?”

That’s called oversight you know. It’s part of every democracy - that checks and balances thing.
 

SGaynor

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More great things (NOT) going on with the economy. Those trade wars are really helping out.

U.S. manufacturers experience worst month since 2007-2009 Great Recession, ISM finds
The sharp decline in the index raised the specter of recession, wiping out early Wall Street gains and sending stocks lower. Readings over 50% signal business conditions are getting better, below 50% indicates they are getting worse.

What happened: Production, employment and inventories all declined in September. The index for new orders actually rose a tick to 47.3%, but it’s still at the weakest level in a decade. Another bad sign: Only three of the 18 U.S. manufacturing industries tracked by ISM reported growth, down from nine in the prior month.

“Chinese tariffs going up are hurting our business. Most of the materials are not made in the U.S. and made only in China,” said an executive at a food and beverages manufacturer.



 

SGaynor

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LOL. It'd be hilarious if it wasn't so sad.

JP Morgan has created an index to track the effect of Trump’s tweets on financial markets: ‘Volfefe index’
In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how the president’s tweets are influencing volatility in U.S. interest rates.

J.P. Morgan found that the index, named after Trump’s infamous and still mysterious “covfefe” tweet, explains a measurable fraction of the moves in implied rate volatility for 2-year and 5-year Treasurys.
 

SGaynor

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I thought you said the President didn't have an affect on Markets?
What I actually said:

Remember how we said the President really doesn't do much to improve the economy, but they can take steps to tank it?

Exhibit A:

U.S. stocks take more losses in sell-off triggered by fears of a trade war
And yes, starting trade wars with most of our trading partners and putting tariffs on a quarter of the economy is a really good way of fucking up the economy.

But remember - winning trade wars are easy.
 

D Chapman

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Isn't it funny how the market rebounded the very next day like nothing ever happened?

The reality of it is, Scott, the USofA will continue to fall short in the manufacturing arena. Americans have grown soft and there's no longer a need, or desire, to thrive in these markets. Americans (millennial's) no longer work hard. And why would they? Manufacturing and producing is hard work. It's labor intensive. It would take me 2 hours to shuck a pound of peas from my garden, or I could pay $0.99lb for peas grown in Bolivia at Kroger. As the world turns, and as long as fast-food workers demand $15hr wage, there is no incentive for factory jobs to remain in the country. These manufacturing tech companies can't afford to pay workers the wages they demand, and these companies can no longer sell their goods for what people expect to pay.

There is truth in the Market Watch article you posted. And sure, the tariffs will create strain. What you fail to see is where America is gaining market share. Fuck the tariff shit. No one cares about the tariffs, not even the democrats. The Dems act like they care, but they don't. It's only political. Attempting to save manufacturing jobs in America is a losing battle. These jobs require manpower and in this day the immigrants don't even want to work. So if you're basing how well or bad the economy is by looking at the manufacturing of electronics you're certain to think America is a failure and we're headed straight for recession.

On the flip side of this, AI is going gangbusters in America. Why? Because millennials can support themselves on the wages AI pays all from the conveniences of their home office. If you're going to base the state of the economy on one jobs sector, why not base it on AI? That's what you're doing anyway (cherry picking), but only to favor your narrative.

Markets change. If I relied on casket sales today like I did 20 years ago I'd be in sad shape. Casket sales are at an all-time low and there's no indication that will change anytime soon. Does that mean funeral homes are going out of business? Are people no longer dying? Is revenue going to decrease? The answer is no. We welcome change and adapt. This is why Lucky 8 has more gross sales than GBR or why John Deere started selling an L-series lawn tractor.

The point is, Scott, you cherry pick the shit out of stuff and think we're all going to hell in a handbasket and blame it on Trump because Trump hurt your feelings somewhere along the way. All the while, we're going to be just fine under Trump and the markets will correct themselves for as long as you are alive. You should start looking at things at a new light and enjoy what Trump has done for you already. You can start by thanking him for the current Supreme Court justices. Things might look a lot different right now if it were not for Trump, and I personally don't think it would be for the better.
 

SGaynor

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LOL.

Yeah...AI is the "new" economy. Not that anyone ever needs to make anything. If you think that because GoogleBook is making tons of money that we no longer need to be concerned with manufacturing, you are sadly mistaken. Manufacturing jobs were making a good come back the last 5 years, but fucking up our exports (and imports of raw materials) is/was a great way to fuck it up. Thanks Trump.

American manufacturing firms, especially those that do complicated work, compete just fine with the rest of the world. But not when they get hit with 20% tariffs. How well would your business do if tomorrow you were hit with a 20% increase in your costs - all due to the government?

Oh, wait. I know the answer - you'd bitch to high heaven.

Not saying it can't be done, but it would be near impossible to get away with that anymore. Ever since the Tri-State deal in GA many new laws and regulations have hit the books. We now have to deal with the EPA, the DEQ, and a new origination called CANA. They're monitoring everything from emissions to gas usage per pound. Crematories are also now randomly inspected by the state, too, something that was never done in the past.

For example, in the past retorts were basically large ovens with a direct flame. About 1.8 Million BTU's fed by a 4" gas main. Funeral homes would just do the cremation without logging any information at all. You just did the job and that was that.

Within the last 10 years, the laws have changed. Each body must not only be identified prior to cremation, but they must be logged in and given some sort of ID that also must withstand the cremation process. Many crematories use a stainless steel token with a number on it. That number, and the persons name, is recorded in a log book. It's also recorded on a graph on the crematory itself. This graph also maps the cremation process marking the total run time of the cremation and the temperatures throughout the process.

At the end of the year the crematory has to send this information to the DEQ where they determine if your running efficiently. They're also required to visit the crematory every-so-often, too (either every 3 or 5 years) and actually witness a cremation and check for emissions.

The state is required to visit your location at least once every 3 years. More often is they choose too. They inspect your retort and your log books with a fine tooth comb. You've got to be able to show them not only who you cremated, but how much they weighed, how long the process took, how much gas was used, and how much gas you've purchased. Even if you're just conducting maintenance you've got to accurately show the inspector where that gas went, or didn't go. And the meters on the buildings keep everyone in check....

This type of monitoring does not come cheap. It's also why you've seen the price of cremation jump from $695 to $2,000+.
 

D Chapman

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Of course, the more the government gets involved the more shit is going to cost. I'm not disputing this. That's why I've vote for Trump in 2020.

No one gives a shit about the tariff's, Scott. It's a political stunt and yes it puts strains on those businesses affected. What's it all amount to?

As for AI not being a legit US market.....Okay.
 

brian4d

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Of course, the more the government gets involved the more shit is going to cost. I'm not disputing this. That's why I've vote for Trump in 2020.

No one gives a shit about the tariff's, Scott. It's a political stunt and yes it puts strains on those businesses affected. What's it all amount to?

As for AI not being a legit US market.....Okay.

Scott doesn't know shit from Shinola when it comes to anything IT. He's already proven that.