[ ]   [ ]   [ ]                        [ ]      [ ]   [ ]

Ukraine - NoEnzLefttoSplit - Mar 28, 2024 - 11:51pm
 
Wordle - daily game - NoEnzLefttoSplit - Mar 28, 2024 - 10:54pm
 
Breaking News - kurtster - Mar 28, 2024 - 9:31pm
 
Vinyl Only Spin List - kurtster - Mar 28, 2024 - 9:27pm
 
Derplahoma! - Red_Dragon - Mar 28, 2024 - 5:11pm
 
NYTimes Connections - n4ku - Mar 28, 2024 - 5:03pm
 
Uploading Music - macadavy - Mar 28, 2024 - 4:18pm
 
Baseball, anyone? - zevon - Mar 28, 2024 - 4:17pm
 
Oldest Rock song on RP - johkir - Mar 28, 2024 - 4:07pm
 
USA! USA! USA! - R_P - Mar 28, 2024 - 3:28pm
 
Live Music - oldviolin - Mar 28, 2024 - 3:10pm
 
Orbiting Earth - oldviolin - Mar 28, 2024 - 2:19pm
 
YouTube: Music-Videos - oldviolin - Mar 28, 2024 - 2:17pm
 
• • • The Once-a-Day • • •  - oldviolin - Mar 28, 2024 - 2:13pm
 
Lyrics that strike a chord today... - oldviolin - Mar 28, 2024 - 2:06pm
 
Israel - R_P - Mar 28, 2024 - 2:03pm
 
Photos you have taken of your walks or hikes. - NoEnzLefttoSplit - Mar 28, 2024 - 12:21pm
 
Irony 101 - MrDill - Mar 28, 2024 - 12:21pm
 
Photography Forum - Your Own Photos - MrDill - Mar 28, 2024 - 12:15pm
 
RP automation with iOS Shortcuts App - pradler4kant - Mar 28, 2024 - 11:57am
 
The Obituary Page - ScottFromWyoming - Mar 28, 2024 - 11:31am
 
Talk Behind Their Backs Forum - VV - Mar 28, 2024 - 11:27am
 
March 2024 Photo Theme - Many - NoEnzLefttoSplit - Mar 28, 2024 - 11:07am
 
Bug Reports & Feature Requests - Beaker - Mar 28, 2024 - 9:30am
 
NY Times Strands - geoff_morphini - Mar 28, 2024 - 8:37am
 
Radio Paradise Comments - pilgrim - Mar 28, 2024 - 8:19am
 
Business as Usual - black321 - Mar 28, 2024 - 8:09am
 
Trump - rgio - Mar 28, 2024 - 7:29am
 
Outstanding Covers - thisbody - Mar 28, 2024 - 5:51am
 
Today in History - DaveInSaoMiguel - Mar 28, 2024 - 4:28am
 
Little known information...maybe even facts - haresfur - Mar 27, 2024 - 6:21pm
 
RightWingNutZ - R_P - Mar 27, 2024 - 3:48pm
 
Please Don't Post Here - Red_Dragon - Mar 27, 2024 - 11:02am
 
Motivational Office Cliches... - NoEnzLefttoSplit - Mar 26, 2024 - 10:20pm
 
(Big) Media Watch - Red_Dragon - Mar 26, 2024 - 6:18pm
 
Solar / Wind / Geothermal / Efficiency Energy - islander - Mar 26, 2024 - 8:00am
 
Is there any DOG news out there? - Beez - Mar 26, 2024 - 7:24am
 
Food - Steely_D - Mar 26, 2024 - 1:41am
 
Frequent drop outs (The Netherlands) - kingen - Mar 25, 2024 - 2:43pm
 
China - R_P - Mar 25, 2024 - 11:59am
 
Musky Mythology - R_P - Mar 25, 2024 - 11:20am
 
Play history seems to indicate that I"m streaming 24/7, b... - jarro - Mar 25, 2024 - 10:44am
 
April 8th Partial Solar Eclipse - Coaxial - Mar 24, 2024 - 6:22pm
 
New Music - KurtfromLaQuinta - Mar 24, 2024 - 5:07pm
 
Dental Floss Tycoons, and other Montana Myths, Facts, and... - Red_Dragon - Mar 24, 2024 - 12:32pm
 
Basketball - oldviolin - Mar 23, 2024 - 2:50pm
 
What Makes You Laugh? - ScottFromWyoming - Mar 23, 2024 - 1:54pm
 
Joe Biden - kurtster - Mar 23, 2024 - 11:17am
 
Technical Streaming Note for Nerdy RP DIYers - sjagminas1 - Mar 23, 2024 - 10:16am
 
Museum Of Bad Album Covers - Proclivities - Mar 23, 2024 - 8:56am
 
Other Medical Stuff - Antigone - Mar 22, 2024 - 3:06pm
 
Country Up The Bumpkin - oldviolin - Mar 22, 2024 - 11:06am
 
Pernicious Pious Proclivities Particularized Prodigiously - Red_Dragon - Mar 22, 2024 - 9:17am
 
Memorials - Remembering Our Loved Ones - Bill_J - Mar 21, 2024 - 8:54pm
 
Can you afford to retire? - DaveInSaoMiguel - Mar 21, 2024 - 2:15pm
 
Mixtape Culture Club - KurtfromLaQuinta - Mar 21, 2024 - 11:10am
 
What Did You See Today? - KurtfromLaQuinta - Mar 20, 2024 - 5:13pm
 
Annoying stuff. not things that piss you off, just annoyi... - ScottFromWyoming - Mar 20, 2024 - 4:31pm
 
Upcoming concerts or shows you can't wait to see - Antigone - Mar 20, 2024 - 3:10pm
 
Russia - NoEnzLefttoSplit - Mar 20, 2024 - 11:44am
 
2024 Elections! - Lazy8 - Mar 20, 2024 - 7:26am
 
Economix - R_P - Mar 19, 2024 - 4:36pm
 
Name My Band - DaveInSaoMiguel - Mar 19, 2024 - 10:53am
 
Delicacies: a..k.a.. the Gross Food forum - DaveInSaoMiguel - Mar 19, 2024 - 10:12am
 
New Forum Member on "What Makes RP Great" - miamizsun - Mar 19, 2024 - 4:38am
 
Cache stopped working on old Android Phone - Eisenwindel - Mar 19, 2024 - 1:50am
 
Cryptic Posts - Leave Them Guessing - Bill_J - Mar 18, 2024 - 8:23pm
 
Damn Dinosaurs! - oldviolin - Mar 18, 2024 - 8:16pm
 
One Partying State - Wyoming News - geoff_morphini - Mar 18, 2024 - 3:58pm
 
Great guitar faces - skyguy - Mar 18, 2024 - 3:33pm
 
Despots, dictators and war criminals - R_P - Mar 18, 2024 - 12:41pm
 
Media Matters - thisbody - Mar 18, 2024 - 10:03am
 
NASA & other news from space - miamizsun - Mar 18, 2024 - 4:13am
 
MEALTICKET - drinpt - Mar 17, 2024 - 4:13am
 
What makes you smile? - Steely_D - Mar 16, 2024 - 7:31pm
 
Index » Internet/Computer » The Web » Economix Page: Previous  1, 2, 3, ... 208, 209, 210  Next
Post to this Topic
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Dec 8, 2022 - 10:23am

To Islander - the PBGC is not intended to be an insurer, but a safety net to provide some protection when plans fail (companies go bankrupt).
To Lazy - I'm not 100% certain, but I don't think it was the union that did the contributing/investing, but a multiemployer plan, where various cos with union workers contribute to the same plan...until the plan fails. 

Larger issue is it's was bad policy to allow these private pension schemes to be so drastically underfunded, and then have the public fund it when it fails. 

Lazy8

Lazy8 Avatar

Location: The Gallatin Valley of Montana
Gender: Male


Posted: Dec 8, 2022 - 9:36am

 islander wrote:
I think this is the right thing to do. But it is especially ironic, as most of the beneficiaries of these policies are against 'socialism' and any government 'handouts' for people who are not them. Pretty typical "I don't care until it affects me personally" politics.

Edit to add:  We should pay for this by taxing Amazon/Walmart/ other major retailers who have made trillions of dollars in no small part by utilizing these workers.

So...a union invested poorly and wound up with an underfunded pension fund, and that's all the fault of companies that (in general) had nothing whatsoever to do with the problem:

1. Don't have unionized workforces
2. Don't have pensions—they use defined contribution (401K) retirement plans rather than defined benefit (pension) plans

...and the part that bothers you about the bailout is that the beneficiaries are no longer political allies?


islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Dec 8, 2022 - 9:05am

 black321 wrote:


Disagree. 
Pensions are backstopped by PBGC, which is funded with "insurance" payments by those paying into pensions, but it's not 100%. 
The rules that allow these pensions to become so massively underfunded were allowed because cos lobbied for them, and now taxpayers pick up the tab...in the so called inflation reduction act.
and not like the last admin was any better...which also subsidized underfunded plans, and allowed the can to be kicked further down the road. 

p.s., are you implying most union workers are conservative/republicans?




If the PBGC were sufficient this wouldn't be a 36 billion dollar issue.  

Not all union workers, but I'd bet a substantial portion that are teamsters are.  

https://www.npr.org/2016/03/07... 
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Dec 8, 2022 - 8:06am

 islander wrote:


I think this is the right thing to do. But it is especially ironic, as most of the beneficiaries of these policies are against 'socialism' and any government 'handouts' for people who are not them. Pretty typical "I don't care until it affects me personally" politics.

Edit to add:  We should pay for this by taxing Amazon/Walmart/ other major retailers who have made trillions of dollars in no small part by utilizing these workers.


Disagree. 
Pensions are backstopped by PBGC, which is funded with "insurance" payments by those paying into pensions, but it's not 100%. 
The rules that allow these pensions to become so massively underfunded were allowed because cos lobbied for them, and now taxpayers pick up the tab...in the so called inflation reduction act.
and not like the last admin was any better...which also subsidized underfunded plans, and allowed the can to be kicked further down the road. 

p.s., are you implying most union workers are conservative/republicans?


islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Dec 8, 2022 - 7:50am

 black321 wrote:

On the one hand, regulators turn a blind eye to these schemes, until they get in trouble, and then a bailout. 
Might as well go all-in and nationalize everything

Biden to announce federal bailout for troubled union pension fund

WASHINGTON – President Joe Biden on Thursday will join labor leaders to announce a federal bailout for a pension fund largely benefiting Teamster workers and retirees.

The $36 billion for the Central States Pension Fund will prevent benefits from being cut more than in half for more than 350,000 truck drivers, warehouse workers, construction workers and others, according to the White House.

  • The bailout was made possible by the American Rescue Plan Act, the $1.9 trillion package passed last year in response to the pandemic.
  • Financially struggling multiemployer pension plans can apply to the Pension Benefit Guaranty Corporation for assistance.
  • Before the act passed, more than 200 pension plans were on pace to become insolvent in the near term, according to the White House. Now, those plans are projected to remain solvent through at least 2051.
  • The $36 billion for the Central Pension Fund is the biggest boost from the program, and the largest ever federal financial assistance for troubled pension funds, according to the White House.

What's about to happen

Teamster workers and retirees will join Biden and Labor Secretary Marty Walsh at a White House event announcing the assistance. Biden has said he’s goal is to be “the most pro-union president” in U.S. history. He held the first public event of his presidential campaign at a Teamsters hall in Pittsburgh in 2019.

Critics, like George Mason University’s Charles Blahous, say the bailouts encourage “more of the irresponsible behavior that got pensions into trouble in the first place.”

Who is being helped?

Most states have workers or retires expected to benefit. The states with the most beneficiaries are:

  • Michigan: 40,300
  • Ohio: 39,900
  • Missouri: 27,800
  • Illinois: 25,000
  • Texas: 22,500
  • Wisconsin: 21,900
  • Indiana: 19,600
  • Minnesota: 19,300
  • Florida: 18,700
  • Tennessee: 14,200





I think this is the right thing to do. But it is especially ironic, as most of the beneficiaries of these policies are against 'socialism' and any government 'handouts' for people who are not them. Pretty typical "I don't care until it affects me personally" politics.

Edit to add:  We should pay for this by taxing Amazon/Walmart/ other major retailers who have made trillions of dollars in no small part by utilizing these workers.
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Dec 8, 2022 - 7:43am

On the one hand, regulators turn a blind eye to these schemes, until they get in trouble, and then a bailout. 
Might as well go all-in and nationalize everything

Biden to announce federal bailout for troubled union pension fund

WASHINGTON – President Joe Biden on Thursday will join labor leaders to announce a federal bailout for a pension fund largely benefiting Teamster workers and retirees.

The $36 billion for the Central States Pension Fund will prevent benefits from being cut more than in half for more than 350,000 truck drivers, warehouse workers, construction workers and others, according to the White House.

  • The bailout was made possible by the American Rescue Plan Act, the $1.9 trillion package passed last year in response to the pandemic.
  • Financially struggling multiemployer pension plans can apply to the Pension Benefit Guaranty Corporation for assistance.
  • Before the act passed, more than 200 pension plans were on pace to become insolvent in the near term, according to the White House. Now, those plans are projected to remain solvent through at least 2051.
  • The $36 billion for the Central Pension Fund is the biggest boost from the program, and the largest ever federal financial assistance for troubled pension funds, according to the White House.

What's about to happen

Teamster workers and retirees will join Biden and Labor Secretary Marty Walsh at a White House event announcing the assistance. Biden has said he’s goal is to be “the most pro-union president” in U.S. history. He held the first public event of his presidential campaign at a Teamsters hall in Pittsburgh in 2019.

Critics, like George Mason University’s Charles Blahous, say the bailouts encourage “more of the irresponsible behavior that got pensions into trouble in the first place.”

Who is being helped?

Most states have workers or retires expected to benefit. The states with the most beneficiaries are:

  • Michigan: 40,300
  • Ohio: 39,900
  • Missouri: 27,800
  • Illinois: 25,000
  • Texas: 22,500
  • Wisconsin: 21,900
  • Indiana: 19,600
  • Minnesota: 19,300
  • Florida: 18,700
  • Tennessee: 14,200



black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Nov 2, 2022 - 4:07pm

Those who have are spending their cash

Bentley CEO: ‘Never seen spending patterns’ like this before with luxury consumer

Pras Subramanian·Senior ReporterWed, November 2, 2022 at 10:24 AM

For British luxury automaker Bentley (VOW.DE), 2022 may leave a strong 2021 in the dust.

Through the first nine months of 2022, Bentley reported record operating profit of €575 million ($577,129,608), more than double the amount from a year ago. The previous full-year record high for operating profit was €389 million ($383,651,250.00). Revenue through the first nine months came in at €2.490 billion ($2,455,762,500.00), a jump of 28% from a year ago.

For Bentley CEO Adrian Hallmark, the results are astonishing because the automaker only increased sales of cars by 3%, yet profitability soared.

“The exciting part for me is that we've doubled the profit year to date, with only a 3% increase in , and that's all about quality of margin,” Hallmark says to Yahoo Finance. “It's all about these higher price cars with more personalization, order bank driven, not stock build driven; and we've got the right formula, and we're going to be ruthless about maintaining that pool.”

"I've been in this industry and in this sector for nearly 28 years. I've never seen spending patterns like it and not just in Bentley,”


miamizsun

miamizsun Avatar

Location: (3283.1 Miles SE of RP)
Gender: Male


Posted: Nov 2, 2022 - 10:09am

 rexi wrote:

jeez, just saw this



been a subscriber to capitalisn't for a while
because luigi...
rexi

rexi Avatar

Location: Zurich, Switzerland


Posted: Oct 31, 2022 - 6:34am

A different Story of Inflation


R_P

R_P Avatar

Gender: Male


Posted: Oct 27, 2022 - 4:38pm

Putin Is Onto Us (NYT, Friedman)
haresfur

haresfur Avatar

Location: The Golden Triangle
Gender: Male


Posted: Oct 26, 2022 - 12:40am

 westslope wrote:

The Russian economy has suffered.  Wealth has suffered.   The Russian economy will likely suffer for years, possibly decades to come.    

As an aside, please do note that not all Russians wanted this war.  Think of the subcultures in the USA and other rich western countries that have opposed war or the nuclear arms race and one finds the same subcultures in Russia.

The important point from the perspective of the welfare of Europeans and North Americans is that Russia can economically last for a very long time.   That has to be part of the strategic calculation on the part of US-lead NATO going forward.     Any illusions of a quick, inexpensive military victory in Ukraine should be dismissed or assigned an extremely low probability of materializing.

This conflict could easily escalate with conventional weapons alone into highly destructive and risky directions.        



Yeah, well Putin seems to long for the days of the cold war. Last one took around 40 years. That's his choice until someone figures out how to get rid of him, provided someone as bad doesn't take his place. Putin could fix this easily but he won't.

Obama ignored Russian aggression in Crimea and that just lead to aggression in the rest of Ukraine. The alternatives appear to be either Russia takes over Ukraine and probably the rest of Eastern Europe or support Ukrainian self-determination, even if it means digging in for the long haul. Yeah, it is dangerous but so are the other options.
westslope

westslope Avatar

Location: BC sage brush steppe


Posted: Oct 25, 2022 - 8:39pm

The Russian economy has suffered.  Wealth has suffered.   The Russian economy will likely suffer for years, possibly decades to come.    

As an aside, please do note that not all Russians wanted this war.  Think of the subcultures in the USA and other rich western countries that have opposed war or the nuclear arms race and one finds the same subcultures in Russia.

The important point from the perspective of the welfare of Europeans and North Americans is that Russia can economically last for a very long time.   That has to be part of the strategic calculation on the part of US-lead NATO going forward.     Any illusions of a quick, inexpensive military victory in Ukraine should be dismissed or assigned an extremely low probability of materializing.

This conflict could easily escalate with conventional weapons alone into highly destructive and risky directions.        


Lazy8

Lazy8 Avatar

Location: The Gallatin Valley of Montana
Gender: Male


Posted: Oct 25, 2022 - 7:52pm

 R_P wrote:
As Europe falls into recession, Russia climbs out
Real-time data show a subdued but strengthening economy

Surprise, dumping massive amounts of currency into the military sector raises GDP—hence the durable fallacy that wars are good for the economy.

An awful lot of Russians who should be doing productive work are either dodging shrapnel in Ukraine or already casualties, and the work they should be doing is going undone. But GDP counts their military pay and the expenditures for weapons and fuel and boots, even if the soldiers they're being bought for never get them because they were stolen by a corrupt procurement  apparatus or blown up on the way.

So GDP looks great! Money is being spent! The fact that it is buying nothing of any earthly use matters not at all to that tabulation. Russia is becoming poorer by the minute, squandering its future to run in place, but the number look great.

Reality always wins in the end.
miamizsun

miamizsun Avatar

Location: (3283.1 Miles SE of RP)
Gender: Male


Posted: Oct 25, 2022 - 10:01am

now the flip side of russia's economic situation
and the call is coming from inside the house...



westslope

westslope Avatar

Location: BC sage brush steppe


Posted: Oct 25, 2022 - 9:18am

 R_P wrote:
As Europe falls into recession, Russia climbs out
Real-time data show a subdued but strengthening economy




The EU economy is getting hammered.   But the USA is not that far behind in terms of heading into recession (if not already there).   

Well done President Biden.  Chalk up another victory for US Exceptionalism.    Please continue to target a military victory in Ukraine and let's see where the chips fall.  
Lazy8

Lazy8 Avatar

Location: The Gallatin Valley of Montana
Gender: Male


Posted: Oct 24, 2022 - 8:17am

 black321 wrote:

Comment from Matt Maley at Miller Tabak sums it (current and recent past economy)  up:
“If we had tried maintain what we had a year ago, it would have been like getting drunk…and then trying to stay drunk…to avoid a hangover. What the Fed is trying to do is to keep a bad hangover from becoming a horrendous one…but they’re also trying to make sure we don’t get drunk again……….It’s a very tough job,”


And all it has in the medicine cabinet is more alcohol. But this time is different!
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Oct 24, 2022 - 6:50am

Comment from Matt Maley at Miller Tabak sums it (current and recent past economy)  up:
“If we had tried maintain what we had a year ago, it would have been like getting drunk…and then trying to stay drunk…to avoid a hangover. What the Fed is trying to do is to keep a bad hangover from becoming a horrendous one…but they’re also trying to make sure we don’t get drunk again……….It’s a very tough job,”
R_P

R_P Avatar

Gender: Male


Posted: Oct 23, 2022 - 12:41pm

As Europe falls into recession, Russia climbs out
Real-time data show a subdued but strengthening economy


R_P

R_P Avatar

Gender: Male


Posted: Oct 11, 2022 - 3:11pm

We (Still) Think The Price Is Worth It
Protests Rage Across Europe, As Sanctions-Fuelled Inflation Surges and Economic Crisis Deepens
Last Friday (October 7), the 82-year old French writer Annie Ernaux won the Nobel Prize in Literature, for what the panel described as an “uncompromising” 50-year body of work exploring “a life marked by great disparities regarding gender, language and class”. A feminist and politically committed writer, Ernaux is the first French woman to win the award.

The news of her triumph was cause for celebrations, albeit brief, at the Élysée Palace, whose current resident, President Emmanuel Macron, tweeted:

“For 50 years, Annie Ernaux has written the novel of the collective and intimate memory of our country. Her voice is the voice of the freedom of women and forgotten figures of the century”.
Ernaux herself responded to the news by describing writing as a political act, a means of opening our eyes to social inequality. To that end, she uses language like “a knife”, to tear apart the veils of imagination. The next day (October 8), she turned that knife on Macron. (...)

westslope

westslope Avatar

Location: BC sage brush steppe


Posted: Oct 6, 2022 - 4:57pm



Belarus dictator Lukashenko BANS price increases with immediate effect to curb rampaging inflation amid Western sanctions

  • Belarus has been targeted by sanctions for helping Putin in his war in Ukraine
  • Inflation has soared 18 per cent since last year in the former Soviet nation
  • Lukashenko outlawed price increases from today, which could lead to shortages



Page: Previous  1, 2, 3, ... 208, 209, 210  Next