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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

aparch said:
I've read that our economy is being held together with scotch tape, toothpicks, and the finances of AI. Let's check in with Jim Cramer... oh... OH!.... Oh no!!!

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How this guy has a career after Jon Stewart annihilated him I will never know...

But the economy is being held together by two things...AI (which is already showing signs of crashing) and people who make more than 100k spending money. All evidence shows 2 distinct economies now...and 100k seems to be the break line. Those of us who make less than that are either buying everything on credit or are not spending at all.

I still say the craziest stat is that 50% of the economic spending last quarter was by the top 10%.
 
Handyman said:
How this guy has a career after Jon Stewart annihilated him I will never know...

But the economy is being held together by two things...AI (which is already showing signs of crashing) and people who make more than 100k spending money.
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Cramer is a cockroach. He survives because of ratings. His show is infotainment, I do not think (I sure hope) anyone actually takes him seriously as investment advice except the guy you can sell the Brooklyn Bridge to.

North of 100k/yr spending money is too high a bar. Dr. Mrs. & I are clearly Part of the Problem -- this economy is great for us while the rest of the world dies -- and we don't have anything close to that. I assume you are saying take home less mandatory commitments: mortgage, other loans, student debt, insurance premiums, retirement payments, health costs, utilities. Even at our very peaky peak before everything exploded in a fireball for us we were never even close to 100k/yr throw it around money.
 
ScoobyDoo said:
So, basically, working as intended.
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Yes. Exactly as the Orange County CoC drew it up for Reagan in 1980. A half century of the greatest wealth redistribution scheme in world history, from the American middle class to the global super wealthy. $100 trillion or so and counting. To, maybe, 50k families worldwide. Let's say to one million people.

I dunno about you, but I say we take it all.
 
Kepler said:
Cramer is a cockroach. He survives because of ratings. His show is infotainment, I do not think (I sure hope) anyone actually takes him seriously as investment advice except the guy you can sell the Brooklyn Bridge to.

North of 100k/yr spending money is too high a bar. Dr. Mrs. & I are clearly Part of the Problem -- this economy is great for us while the rest of the world dies -- and we don't have anything close to that. I assume you are saying take home less mandatory commitments: mortgage, other loans, student debt, insurance premiums, retirement payments, health costs, utilities. Even at our very peaky peak before everything exploded in a fireball for us we were never even close to 100k/yr throw it around money.
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I dont know the basics just read the stat. I would guess is is averaged out based on overall salary not take home.

I would also guess age plays into it. Omar people tend to have homes and such plus more savings so the threshold would be different.
 
bsky.app

Lora Kolodny (@lorak.bsky.social)

Companies shed a seasonally adjusted 32,000 jobs during Sep., payrolls processing firm ADP reported Wed. Economists expected an increase of 45,000. Aug. payrolls number was also revised down to a loss of 3,000 from an initially reported increase of 54,000...
bsky.app bsky.app

Private payrolls saw their biggest decline in 2½ years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown.

Companies shed a seasonally adjusted 32,000 jobs during the month, the biggest slide since March 2023, payrolls processing firm ADP reported Wednesday. Economists surveyed by Dow Jones had been looking for an increase of 45,000.




In addition to the drop in September, the August payrolls number was revised to a loss of 3,000 from an initially reported increase of 54,000.

The report comes as the funding impasse in Washington, D.C., has led to the first government closure since late 2018 into early 2019. Failing a deal over the next two days, the Bureau of Labor Statistics’ nonfarm payrolls report for September will not be released, nor will the Labor Department put out the weekly jobless claims count on Thursday. The last time the BLS payrolls report was delayed was in 2013.
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Wait, wait. wait. You're telling me that tariff revenues, which come from consumer spending (and the only consumers spending are the top 10%) or from corporations (which are owned by the top 10%), are going to be used to support those who are less fortunate than them? Smells like SOCIALISM to me!

Bend over and reach for those bootstraps, flyover MAGA farmers.

 
Scott Bessent wants you to know China stopped buying soybeans from us during the Trump administration because they were angry at Biden for, I guess, existing, and not, say, as a reciprocal measure against us imposing loads of tariffs on them. Just so we're, you know, clear.
 
French Rage said:
Scott Bessent wants you to know China stopped buying soybeans from us during the Trump administration because they were angry at Biden for, I guess, existing, and not, say, as a reciprocal measure against us imposing loads of tariffs on them. Just so we're, you know, clear.
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What's even funnier is there are folks out there who think he's pretty intelligent. I know insects with larger brainpower.
 
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Some of those areas are going to get killed in energy prices over this. Wont hurt the Tech Companies but the residents...
 
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