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Why America's economy is soaring ahead of its rivals

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Re: Why America's economy is soaring ahead of its rivals

#981

Post by throwaway2037 »

ThunderSizzle wrote: post #692
skirge wrote: post #671

Earlier quoted context omitted.

if you hired care assistant then you have time for some other activities like work which is more profitable than cost of care assistant thus economy has more goods. Life expectancy lowers when young people die, most often in work accidents which is related to low unemployment.

My wife had a good job. She made the median household income in the area on her salary alone (my salary was still better, but that's beside the point). When we had our second kid, the hustle wasn't worth it. Two kids in daycare took 90% of her take home pay. It was costing us more for her to work than to stay home with the kids. Also, kids need their parents. An infant being away from their mom for that long is unhea…

    > An infant being away from their mom for that long is unhealthy for the infant
But not their dad?

Re: Why America's economy is soaring ahead of its rivals

#982

Post by throwaway2037 »

jumping_frog wrote: post #774
Guthur wrote: post #641

Earlier quoted context omitted.

And if you borrow that money is even better because they just created the money for you to add to the GDP, and now it will have lots of sweet service fees and interest in top of that. And on a side note because US dollars are the reserve currency and only created in one country they can go shopping around hovering up every asset and resource.

Consider this scenario. Dollar holds value for the next 1 year. FED prints dollar. It gives them to BlackRocks of the world. And these vehicles go shopping around the world in emerging markets buying up ownership. Similar to Cantillon effect, others and emerging market are left holding the bag. Here’s How America Really Runs Britain | Aaron Bastani meets Angus Hanton https://www.youtube.com/watch?v=uK7DINiVuPA

    > FED prints dollar. It gives them to BlackRocks of the world.
This in nonsense. No such thing happens in the US. Also, as I understand, the Federal Reserve is winding down QE from the last 10+ years.

Re: Why America's economy is soaring ahead of its rivals

#983

Post by falkensmaize »

_1tem wrote: post #588

If you go to the doctor with a problem and get a blood test and they say that everything looks fine, but you don’t feel fine, then you don’t say: “well the numbers are right, I should feel fine”. Rather you try to find what the numbers aren’t capturing, because you know something is wrong. Same with the economy. The perception of the economy being bad is really pervasive as demonstrated by the last election, and perc…

The numbers are FAKE. How else can you describe a 30% downward revision in jobs numbers this year?

Re: Why America's economy is soaring ahead of its rivals

#984

Post by mlrtime »

tshaddox wrote: post #928
commandlinefan wrote: post #877

Earlier quoted context omitted.

Not to put words in your mouth, but this comment seems to imply that politicians successfully painted a negative picture of the economy that didn't reflect reality and used that to win the last election. While I wouldn't put that past them, why was it successful this time and not every time? Nobody even tried to pretend the economy was bad when Clinton, Bush or Obama were up for re-election, because it obviously wasn…

> why was it successful this time and not every time? Isn't there a pervasive belief that Republican administrations are better for the economy than Democratic administrations, despite the economy performing better under Democratic administrations for the vast majority of postwar history?

There is a reason the market rallied when Trump was elected.

Re: Why America's economy is soaring ahead of its rivals

#985

Post by mlrtime »

troyvit wrote: post #897
commandlinefan wrote: post #877

Earlier quoted context omitted.

Not to put words in your mouth, but this comment seems to imply that politicians successfully painted a negative picture of the economy that didn't reflect reality and used that to win the last election. While I wouldn't put that past them, why was it successful this time and not every time? Nobody even tried to pretend the economy was bad when Clinton, Bush or Obama were up for re-election, because it obviously wasn…

My guess is that journalism failed this election and social media won it. * Advertising is failing for news sites, so paywalls are becoming the new thing. Those are a barrier to entry for most potential readers. * As one of the largest social media platforms, X did made two key moves. First, they limited reach for users who share external links.[1] That breaks news sites' revenue and readership models. Second, the CE…

And if you read other social media platforms like reddit , you would believe that Harris would win in by a landslide.

Re: Why America's economy is soaring ahead of its rivals

#986

Post by PittleyDunkin »

digital-cygnet wrote: post #964
PittleyDunkin wrote: post #904

Earlier quoted context omitted.

> The perception of the economy being bad is really pervasive as demonstrated by the last election, and perception matters, because selective numbers don’t tell the whole story. Well saying "the economy is good" or "the economy is bad" out of context is simply moronic. Good for whom? Bad for whom? It's no secret our entire society is stacked to favor investors and owners rather than workers. The market certainly trea…

A couple of points: - Headline unemployment _is_ "people who want jobs [enough to be looking for them] but can't find one". The metric you linked to is including people outside the labor force and then weighting in a fairly opaque way. Between labor force participation being at the same point as it was 2014-2016 and unemployment being lower, I don't think it's fair to say unemployment stats are misleading. The point…

i've certainly never been counted towards that unemployment metric any time I've been unemployed. Am I not part of the labor force? The metric only counts people who actively apply for unemployment relief. So either I'm not part of the labor force—doubtful, as I'm employed—or "unemployment" doesn't mean "wants a job and doesn't have one".

Simply: the way the federal government employs the word "unemployment" is, at best, disingenuous; I suspect it is intentional, though, to obscure the intent to leave some part of the population without employment to keep the labor market weak.

Re: Why America's economy is soaring ahead of its rivals

#987

Post by pas »

PittleyDunkin wrote: post #986
digital-cygnet wrote: post #964

Earlier quoted context omitted.

A couple of points: - Headline unemployment _is_ "people who want jobs [enough to be looking for them] but can't find one". The metric you linked to is including people outside the labor force and then weighting in a fairly opaque way. Between labor force participation being at the same point as it was 2014-2016 and unemployment being lower, I don't think it's fair to say unemployment stats are misleading. The point…

i've certainly never been counted towards that unemployment metric any time I've been unemployed. Am I not part of the labor force? The metric only counts people who actively apply for unemployment relief. So either I'm not part of the labor force—doubtful, as I'm employed—or "unemployment" doesn't mean "wants a job and doesn't have one". Simply: the way the federal government employs the word "unemployment" is, at b…

These are usually based on surveys not just the numbers summed up from whatever unemployment offices.

Assigning such intent to a huge bureaucracy is going to lead you to strange and mostly incorrect conclusions.

Re: Why America's economy is soaring ahead of its rivals

#988

Post by verzali »

loxodrome wrote: post #98
spiderfarmer wrote: post #31

Earlier quoted context omitted.

The EU is number one in quality of life and that’s all that matters to me. If we work just hard enough to maintain and maybe even improve it, other countries can do their pissing contest.

I’m an American living in France for the past two years and cannot wait to move back to the USA. The taxes are so extreme and salaries so low that no one can even invest in the stock market. If I stay here, I will be able to leave virtually nothing to my kids when I die. The EU can take its 5 weeks of vacation and go fuck itself.

I live in France and invest in the stock market. Sounds like you just need to find a better paid job.

Re: Why America's economy is soaring ahead of its rivals

#989

Post by digital-cygnet »

PittleyDunkin wrote: post #986
digital-cygnet wrote: post #964

Earlier quoted context omitted.

A couple of points: - Headline unemployment _is_ "people who want jobs [enough to be looking for them] but can't find one". The metric you linked to is including people outside the labor force and then weighting in a fairly opaque way. Between labor force participation being at the same point as it was 2014-2016 and unemployment being lower, I don't think it's fair to say unemployment stats are misleading. The point…

i've certainly never been counted towards that unemployment metric any time I've been unemployed. Am I not part of the labor force? The metric only counts people who actively apply for unemployment relief. So either I'm not part of the labor force—doubtful, as I'm employed—or "unemployment" doesn't mean "wants a job and doesn't have one". Simply: the way the federal government employs the word "unemployment" is, at b…

In the USA, unemployment is based on a periodic, 60k household survey. You may not have ever been contacted but that's just the nature of sampling. It's true that some countries report unemployment as those who are actually registered as unemployed, but that's not best practice (and a good reason to be careful comparing country unemployment rates)

You can read more on the US system here - https://www.bls.gov/cps/faq.htm#Ques3

I agree it's a bad outcome that someone who gets so fed up with the labor market that they stop looking for work no longer counts as unemployed, but that's why we have labor force participation (and why imho that should be reported in headlines along with unemployment, after adjusting for age and education)

Re: Why America's economy is soaring ahead of its rivals

#990

Post by boulos »

rsanek wrote: post #584
boulos wrote: post #518

Earlier quoted context omitted.

The article discusses this and disagrees. Even in the same sectors and with the top 7 companies removed, sectors in the US have higher P/E ratios due to higher projected growth rates.

The article quotes Draghi as saying “If we exclude the tech sector, EU productivity growth over the past 20 years would be broadly at par with the US,” so I think it agrees.

Oh! My edit didn't go through. I had tried to change "the article" to "the article at https://on.ft.com/41jw5ZY".
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