The Stock Market Is Not The Economy Thread II

[synistar]

Not sure where to post it but it's economy related.

https://www.latimes.com/california/s...ent-assistance
https://apnews.com/article/californi...aade211df21c08

California to provide tax rebates because of large tax receipts/windfall.

Messaging is terrible on the LA Times article because liberal slant. Part of the tax rebates proposed is due to the Gann Limit from a 1979 voter initiative which would require state and local governments to return funds to taxpayers if there's too much of a surplus. Estimates peg the state is a $16 billion in surplus over the Gann Limit trigger.

The current proposal is households greater than $30k and less than $75k AGI would receive $600 in rebates. An additional $500 child rebate would apply to those households (only applies once, households don't get a larger rebate with more children.)

Additional provisions outside the rebate issue include $5.2 billion to help pay back rent and $2 billion for overdue utility bills for pandemic striken families.

[archibaldcrane]

A lot of talk (and stock market panic) about inflation today. A good tweet to calm some nerves.

https://twitter.com/byHeatherLong/st...596564484?s=19

[Andalusian girls]

inflation is weaker when you remove the two most important commodities to most consumers that have inflated even more heavily than the average, says almost an economist

[Andalusian girls]

like ya i get the statistical urge to flatten volatility by removing outliers that aren't inherently predicative but when you're staring at high inflation in food, energy, housing, and healthcare it is not the rosiest of pictures, CPI or no

[archibaldcrane]

Removing food and energy is a common practice to look at an inflation snapshot.

[6souls]

473k new unemployment claims

[Mertron]

/

[6souls]

https://twitter.com/AP/status/1394669382920511490?s=20

[Kaslo]

https://twitter.com/AP/status/1394669382920511490?s=20

That's pretty risky considering the voidable nature of a minor's ability to contract.

[Athas]

That does sound pretty convenient though, might try out such a service - if it was free.

[6souls]

https://twitter.com/AP/status/1394707130243076098?s=20

[thetruepandagod]

Mullins, 36. “(It) made me think long-term for the first time.”

yikes

[6souls]

444k new unemployment claims

[Day]

get back to work you bums!

[Sirious]

Sweet. I got the "Congratulations, your PUA claim was retroactively reversed, you owe the entire amount back now" message. Good times.

That made my day, let me tell ya.

[6souls]

Amazon in Talks to Purchase MGM for $9B, Entire Catalogue Would be Added to Prime
https://variety.com/2021/digital/new...on-1234975168/

[Daydreamer]

Sweet. I got the "Congratulations, your PUA claim was retroactively reversed, you owe the entire amount back now" message. Good times.

That made my day, let me tell ya.

Wait what?! Holy shit.

[Sirious]

Wait what?! Holy shit.

Yeah, Michigan has been reversing a bunch of claims.

[Yabby]

Wow, i get they fuck up, but that is a big fuck up if they think someone that was on unemployment for the last year can payback almost 25k.... wtf.

[Koyangi]

Yeah, I think the state should just take the L on this one.