Business, Economics, and Taxes: Capitalism. Yay? >=(

[aparch]

US jobs report out.

actual nearly doubled the estimate of new jobs. Revisions were up 27k per month for 2023. All other metrics were mainly in line. UER dropped.

some troubling numbers in the housing starts. Not sure what that's about.

Larry Kudlow either sobered up briefly or was drunker than usual on Fox Business today. Saw a Thread screenshot where he said 'The economy is trucking along just fine; maybe stop politicizing it and be happy for once.'


*Edit* Found it again:
https://www.threads.net/@aaron.rupar...c4MTIwNjQ2YQ==

[Drew S.]

US jobs report out.

actual nearly doubled the estimate of new jobs. Revisions were up 27k per month for 2023. All other metrics were mainly in line. UER dropped.

some troubling numbers in the housing starts. Not sure what that's about.

Think housing is mostly because of interest rates.

[Handyman]

Lots of videos of unsafe things with the truck...what a boondoggle!

[Proud2baLaker]

In shocking news to nobody, the cyber truck has these wheel cover things that are not round. As such, any time the truck hits a bump or leans into a corner it rubs against the sidewall of the tire and causes damage.

Edit: forgot to add that said tires are specially made for the vehicle

[dxmnkd316]

US jobs report out.

actual nearly doubled the estimate of new jobs. Revisions were up 27k per month for 2023. All other metrics were mainly in line. UER dropped.

some troubling numbers in the housing starts. Not sure what that's about.

[Deutsche Gopher Fan]

US safety regulators have upgraded their investigation into Tesla vehicles over power steering loss into engineering analysis

not Elmo’s best week

[Kepler]

Yeah...sad thing is that probably how the investor calls sound.

LOL. This is so bitingly true and so sad.

Finance 80 years ago might have been a bunch of Tom Buchanans and Roger Sterlings sitting in Louis XIV chairs, reminiscing about their days at the yacht club, but at least they knew what they were doing.

[Drew S.]

Don’t ever buy anyone a Marriott gift card. The Trump administration was more organized than they are.

[Handyman]

Yeah but line go up. People mad when line no go up.

Yeah...sad thing is that probably how the investor calls sound.

[Handyman]

TIL on X that every decision Mark Cuban makes is because he's a dirty Jew. I wish I had a burner account so I could accuse all of them of supporting Hsmas just for shots and giggles.

Yeah he is in their crosshairs because he rips Musk at all turn now.

[Jimjamesak]

Which is dumb anyways cause profits dropped to like $9 billion...it isn't like they are about to go under.

Yeah but line go up. People mad when line no go up.

[Slap Shot]

TIL on X that every decision Mark Cuban makes is because he's a dirty Jew. I wish I had a burner account so I could accuse all of them of supporting Hsmas just for shots and giggles.

[Handyman]

Which is dumb anyways cause profits dropped to like $9 billion...it isn't like they are about to go under.

[Jimjamesak]

I know the UPS drivers here, if they get finished their route early, have to work on the sorting line once they get back to base.

Which is why at around 3 every afternoon, you'll see three or four of them parked at the C-store on the outskirts of town, killing time before they head back to the shop.

Yup, UPS is notoriously penny wise but pound foolish. They don't want to hire new people, especially now that the minimum starting pay is $21 an hour and goes up to $23 in a few years, and will instead force a RPCD who makes $30-40+ an hour to work OT to cover the work. Or they'll have a PT management person do it then get hit with a massive contract violation grievance and have to pay for an expensive arbitration and payout.

I think the C-Suite is trying to keep the stockholders in the dark about how much the company took it in the shorts with this contract. They were forced to get rid of a tiered system for delivery drivers and had to turn all those lower tier drivers into RPCD's. Starting pay went from $15 to $21 and goes up to $23 in a few years. I can't speak for other locales but I know our local rider for Alaska added a bunch of pay bumps like time-and-a-half for PT workers after 5 hours and extra hourly wages for operational things like deicing. Costs went up and they can't tell the stockholders that profits are going to go down.

[LynahFan]

The other thing is that I think in the past the Feds have stepped in and provided some funding to help out insolvent pension funds. They may have even done something like a "pension fund FDIC" or something to provide some certain level of guarantee, although in all likelihood you would never get the full benefit that you expected to get.

Pension Benefit Guaranty Corporation - Wikipedia

My partner and I ran a cross-x debate case in 1993-4 regarding fully funding the PBGC; topic that year was just improving retirement security in general.