The Stock Market Is Not The Economy Thread II

[Meresgi]

Hey, Biden Boom though am I right?

Prepare for these "gains" to have accomplished nothing for your average family.

Oh. And student loan payments coming due. Great job!

Yeah but if you elect them again for a 2nd term they'll totally get stuff done! And You don't want the GoP in office!

At this point GOP and Dems are just two sides of the same bullshit coin to me. Neither wants to do shit for the average american, yet GoP is actually capable of getting stuff done for their corporate overlords and dems just cry about how "When we're not in office the GoP are cheating and pushing bills"...but then "Oh when we ARE in office the GoP just cheat and don't let us push bills!"

[Zealot]

That's an absurdly simplistic view of things. Maybe in like, the 90s, sure, but in 2022 there is one party that is clearly in favor of ending the Republic and another that is not.

[zoobernut]

I remember a point being made that two ultra wealthy people have more in common with each other than two people of the same political party. I think this was during controversy over Ellen Degeneres being friends with George Bush Jr. It really struck me. I think right now from a moral and social standpoint there are vast differences between the parties but not as much as there used to be from a fiscal standpoint. The parties may have slightly different methods to enact fiscally but their end goal seems to be roughly the same.

Perhaps the fact that they are so drastically different in other areas helps keep eyes of the aspect of them both upholding the status quo from an economic standpoint.

[Zealot]

Dave Chappelle just threatened to move all of his business endeavors out of the area if they put in affordable housing near where he lives so, yeah.

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[synistar]

Dave Chappelle just threatened to move all of his business endeavors out of the area if they put in affordable housing near where he lives so, yeah.

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https://sanfrancisco.cbslocal.com/20...y-declaration/

Just like how a bunch of rich NIMBYs tried to skirt around the state's house building initiative by declaring their community a mountain lion sanctuary preventing duplex/fourplex housing being built in their town.

[6souls]

https://twitter.com/USDOL/status/1494303259892326403

[6souls]

https://twitter.com/LaurenKGurley/st...97306634833925

When describing the collective bargaining process, the union buster explains to workers that “The negotiation phase of the process is called collective bargaining, and in the negotiation, there are no guarantees … you can end up with better, the same, or worse than you already have.”

An employee interrupts and asks, “So wait, you’re saying we could end up with worse. What does that mean?”

“There are no guarantees as to what would happen, right? … We can’t make any promises things will get better or stay the same. They could get worse. We can’t promise what’s going to happen. Amazon can’t promise you that they’re going to walk into negotiations and that the negotiations will start from the same [pay and benefits workers have already],” the union avoidance official says. “They could start from minimum wage, for instance. I don’t think that will happen, but it’s a possibility.”

“So you’re saying that Amazon’s gonna say…” the worker responds.

“I just said I’m not saying that,” the Amazon official said.

“So why put that out there?” the worker says.

“Three takeaways you can reflect upon…,” she says, changing the subject.

[6souls]

https://finance.yahoo.com/news/biden...173452499.html

Crypto oversight executive order coming next week.

[6souls]

https://twitter.com/USDOL/status/1496839848145076234

[6souls]

https://finance.yahoo.com/news/adp-j...131813111.html

February private payrolls

Private payrolls rose by 475,000 in February compared to January, ADP said Wednesday. Economists were looking for payrolls to grow by 375,000, according to Bloomberg consensus data.

February's report also came alongside a sharp upward revision to January's payrolls. In January, private sector employment rose by 509,000, ADP said in its revised monthly print. Previously, ADP reported January payrolls fell by 301,000, which would have been the first drop since December 2020.

By sector, leisure and hospitality saw by far the most payrolls come back in February at 170,000, contributing heavily to the overall 417,000 increase in private services payrolls last month. Trade, transportation and utilities companies added back a combined 98,000 jobs during the month, while professional and business services added back 72,000.

In the goods-producing sector, each of mining, construction and manufacturing employers also added back jobs on net in February. Manufacturing jobs rose by 30,000, while construction positions followed close behind with a gain of 26,000.

[Jaybar]

So there was an 810,000 payroll miscalculation in January if I'm understanding that?

[archibaldcrane]

So there was an 810,000 payroll miscalculation in January if I'm understanding that?

Basically yes. Thats a huge revision but revisions are part of the game. January was a weird month.

[6souls]

https://twitter.com/USDOL/status/1499376853437620226

[archibaldcrane]

Jesus

https://twitter.com/cnnbrk/status/14...QSASvIV8w&s=19

[archibaldcrane]

And revisions were +92k jobs for previous months

[archibaldcrane]

Prime-age labor force participation rate is 82.2, higher than it was in July of 2019!

[Byrthnoth]

Dare I say #BidenBoom?

(Ps when we get nuked these hashtags are going to require more context)

[synistar]

So how soon until gas prices hit "energy crisis" levels that it would force people to WFH again? I'm thinking it will hit $6/gal in California in the next week or two.

[Roranora]

pounds per liter to us dollars per gallon is some tuff math but yeah we still ain't paying shit compared to them poor bastards

still tho, fair point. americans might be about to lose it cause we love to rabble about gasoline prices.. and biden is in office

[archibaldcrane]

It'll be sick when we're mostly driving electrics and these autocratic oil fields posing as countries don't matter anymore