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Index » Internet/Computer » The Web » Economix Page: 1, 2, 3 ... 208, 209, 210  Next
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black321

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Location: An earth without maps
Gender: Male


Posted: May 1, 2024 - 12:19pm

 islander wrote:


I know a couple of people who pursued this. These are above average individuals across the board. Both of them burned out on the process and bailed. One went back to corporate and is slogging along being very successful and has a nice jump start due to their savings, but they say it wasn't worth it. The other went rogue and lived the gypsy/nomad life, spent their way through their savings and they are now doing charity stuff in foreign lands and subsistence living financially. Neither of them thinks about retirement much.


I think this story shows how today we use data to create new "trends."  
People have been doing this for decades...and as for job satisfaction, I don't recall many of my generation "emotionally" attached to their job...or my father's generation for that matter.
I think the data seems to legitimize the way the "millennials" feel...whereas prior generations didnt think so much about it...they did the work to provide for their families....
islander

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Location: West coast somewhere
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Posted: Apr 23, 2024 - 12:11pm

 black321 wrote:

Interesting...the strategy seems to be, limit your own consumption, but grow your portfolio value by investing in an economy entirely built on over consumption...hmmm

Playing with FIRE: How to quit work and retire in your 30s

Recent studies suggest that over half of millennials do not see themselves as 'emotionally and behaviourally' connected to their job and company. Exhausted from high-pressure jobs and with a growing sense of burnout, some millennials are following a personal finance strategy that allows them to quit the day job and retire decades early.


https://www.bbc.com/reel/video...



I know a couple of people who pursued this. These are above average individuals across the board. Both of them burned out on the process and bailed. One went back to corporate and is slogging along being very successful and has a nice jump start due to their savings, but they say it wasn't worth it. The other went rogue and lived the gypsy/nomad life, spent their way through their savings and they are now doing charity stuff in foreign lands and subsistence living financially. Neither of them thinks about retirement much.
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Apr 23, 2024 - 11:11am

Interesting...the strategy seems to be, limit your own consumption, but grow your portfolio value by investing in an economy entirely built on over consumption...hmmm

Playing with FIRE: How to quit work and retire in your 30s

Recent studies suggest that over half of millennials do not see themselves as 'emotionally and behaviourally' connected to their job and company. Exhausted from high-pressure jobs and with a growing sense of burnout, some millennials are following a personal finance strategy that allows them to quit the day job and retire decades early.


https://www.bbc.com/reel/video...

black321

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Posted: Apr 23, 2024 - 8:16am



Current Shiller PE Ratio: 33.58 +0.32 (0.95%)11:02 AM EDT, Tue Apr 23
Mean:17.11
Median:15.98
Min:4.78(Dec 1920)
Max:44.19(Dec 1999)

Shiller PE ratio for the S&P 500.


https://www.multpl.com/shiller...

R_P

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Posted: Mar 19, 2024 - 4:36pm

Freedom (and poverty) in Argentina: Milei’s 100 frenetic days in power and an unprecedented economic experiment *
The ultra-neoliberal policies of the new president threaten to dynamite the already weak foundations of the welfare state in the South American country
The Argentine president, a 53-year-old economist and TV panelist by profession, defines himself as a libertarian. He is a follower of the Austrian School, a school of thought founded by Carl Menger at the end of the 19th century, which places individual freedom as the basis of progress and maintains that the state should stay away from the economic decisions of individuals. “The state is a criminal organization,” Milei affirmed on March 1, in his opening speech to the 2024-2025 legislative session. This is the same message that made him popular as a talk show guest and on which he based his successful electoral campaign when he made the leap to politics. The difference is that, since December 10 of 2023, Milei is the leading representative of the very institutions he’s attacking.

The president admires the economist Murray Rothbard, of the Austrian School, to the point of naming one of his four dogs after him. The term “anarcho-capitalism” is attributed to Rothbard, who defended the total abolition of the state in favor of individual sovereignty.

Milei considers himself to be an anarcho-capitalist at heart, but a minarchist in practice: that is, he believes that state functions should be limited to justice and security. This explains why, some time ago, he was in favor of the sale of organs — and even the sale of children — and no restrictions on personal firearms. He dropped these ideas in the final months of the presidential campaign.

Milei’s doctrine is radical for any country — “I’m the first libertarian president in the world,” he likes to boast — but much more so in Argentina, where the state is one of the largest employers and the economy receives massive public investment. The resounding victory of a candidate who brandished a chainsaw as a symbol of cutting public spending was possible due to widespread fatigue with the traditional political class, after 12 years of economic stagnation and Argentines’ loss of purchasing power.

black321

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Posted: Nov 28, 2023 - 7:38am

Dr. Doom Strikes Again.

Interesting, albeit one-sided discussion from Roubini, a/k/a Dr. Doom. 
A central tenet of his argument is higher inflation and interest rates, although at least recently we have seen both come down.

Economic and financial threats are rising and interacting in volatile ways with social, political, environmental and technological challenges

Since the publication of Megathreats in October 2022, the themes I emphasized have gone mainstream. Everyone now acknowledges that economic, monetary and financial threats are rising and interacting in dangerous ways with various other social, political, geopolitical, environmental, health and technological developments.

Hence, in December 2022, the Financial Times chose “polycrisis” as one of its buzzwords of the year. Whatever one’s preferred term (others have adopted “permacrisis” or “confluence of calamities”), there is growing recognition that not only the global economy but also human survival is at risk.

As I warned in Megathreats, the “Great Moderation” (a long period of low macroeconomic volatility following the mid-1980s) has given way to the “Great Stagflation.” In 2022, we witnessed a surge of inflation in advanced economies and emerging markets, a sharp slowdown of global growth that continued into 2023, and signs of severe private- and public-sector debt problems as central banks raised policy rates to stabilize prices.

You’re not imagining things: The end of the ‘everything bubble’ has made the world more dangerous (msn.com)





black321

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Posted: Jul 12, 2023 - 9:40am

YOLO stimulus funds about to run dry....with election season ramping up, when are we going to get another round or another tax cut? We all know deficits don't matter...but don't consumers also need to cut their consumption because we need to save the environment? 


According to Wharton professor Jeremy Siegel, the U.S. economy appears to be “progressing smoothly, with a resilient consumer impervious to the impact of higher borrowing costs.”

These spenders are the “YOLO (you only live once) consumers” who, Siegel believes, are spending the last of their cash reserves on traveling and enjoying the summer.


However, the Russell E. Palmer professor emeritus of finance warned that this could signal “the last good stretches for the economy before the summer ends and credit card bills come due.” He added that in the past, when students return to school in September and October, this has previously made for some “dicey periods for the markets.”

Professor Siegel also issued a warning to the Fed, to which he has previously appealed to pause rate hikes. The finance and economics expert said it would be a “mistake” for the Fed to wait until it saw a downturn in the jobs market before it began easing rate hikes.

Billionaire investor Bill Gross has also said he believes the coffers of American consumers will run dry by the end of the year. The Wall Street titan reportedly worth $2.6 billion tweeted Monday: “4 trillion of COVID spending still dripping into economy with consumers still spending their last $500 billion or so. The trick is when to time the end of it. Fourth quarter is the best guess. 






R_P

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Posted: Jul 7, 2023 - 12:43pm

Economics v. the Earth: New Book Explores the History of a Tense Relationship
(...) In their new book, Scarcity: A History from the Origins of Capitalism to the Climate Crisis, historians Fredrik Albritton Jonsson and Carl Wennerlind warn that capitalist societies will have to overhaul the way we interact with the planet in order to avoid unthinkable consequences. They trace the key economic concept of scarcity as it developed over five hundred years of European thought, showing how a particular interpretation helped bring us to the trouble we’re facing.

The relationship between the economy and nature has been considered by thinkers all the way back to Aristotle. But as Jonsson and Wennerlind show, the topic gained center stage in the seventeenth century in the form of a new enthusiasm for controlling nature. During this period, thinkers like Francis Bacon spread the notion that with the help of science, humanity could bring nature under control and force it to yield its riches. The sky was no longer the limit of our desires.

The authors divide historical views of scarcity into two camps. “Cornucopians” like Bacon held that nature could be mastered to satisfy boundless human wants – a position that found its way to dominance in the West by the end of the 19th century, most recently promoted by neoclassical economists. As Jonsson and Wennerlind see it, economists under the sway of cornucopianism came to believe in a “dream of infinite substitutability” whereby natural resources were always available, and if something grew scarce, no problem — a substitute could be found. For example, if rainforests vanished, the price of goods associated with them would increase, thus lowering demand and sparking innovation to yield substitutes.

The authors outline how over the last century, most mainstream economists have been selling the idea that what we need to do is to use natural resources efficiently and develop science and technology to maximize economic growth. The basic premise: more is almost always desirable, the cheaper the better, and we can have it all without destroying the planet. The magic of market forces would take care of any environmental problems.

The authors liken this fantasy to the fervent visions of progress among 17th-century alchemists.

Jonsson and Wennerlind refer to a second group of ideas about scarcity as the “Finitarian” tradition, focused on limits to power over nature and the need to rein in human desires. While Cornucopians pictured the economy as the engine of the endless growth of wants, Finitarians asked, what about simplicity? A meaningful life? Liberation from desire? And by the way, what about living in balance with nature?

The authors note that Finitarianism was the dominant worldview of sixteenth-century Neo-Aristotelians, a perspective that later found expression in a variety of movements, such as Romanticism. When they thought about the economy and nature, Romantics tended to emphasize living within the limits of nature as the foundation of a healthy society. They saw the Cornucopian focus on ever-rising material standards of living as missing much of what makes human life worth the journey: community, artistic expression, imagination, spirituality, and work that is not soul-crushing. (...)

R_P

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Posted: Apr 1, 2023 - 2:49pm

Michael Hudson: A New Bipolar World. US finance capitalism vs. China's mixed public/ private economy

R_P

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Posted: Mar 29, 2023 - 3:37pm

'The Big Myth' exposes the costs of blind faith in free markets
Steely_D

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Posted: Mar 14, 2023 - 9:28am

 black321 wrote:

Tis the season?


SAN FRANCISCO (AP) — A controversial draft reparations proposal that includes a $5 million lump-sum payment for each eligible Black person could make San Francisco the first major U.S. city to fund reparations, though it faces steep financial headwinds and blistering criticism from conservatives.


https://www.yahoo.com/news/san...



People who didn’t own slaves, in a state that didn’t condone slavery, paying money to people who weren’t slaves.
Folks who even start a thought like this do so much damage to our culture by stoking the embers of intolerance and anger and fear.
black321

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Location: An earth without maps
Gender: Male


Posted: Mar 14, 2023 - 8:38am

Tis the season?


SAN FRANCISCO (AP) — A controversial draft reparations proposal that includes a $5 million lump-sum payment for each eligible Black person could make San Francisco the first major U.S. city to fund reparations, though it faces steep financial headwinds and blistering criticism from conservatives.


https://www.yahoo.com/news/san...
black321

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Posted: Mar 9, 2023 - 12:00pm

President Biden proposed a $6.9 trillion budget that calls for reducing deficits and raising taxes on wealthy people and large corporations, detailing a policy vision that isn’t expected to gain momentum in Congress, but is an opening salvo in spending talks with Republicans.

Mr. Biden’s fiscal year 2024 budget plan, released Thursday, calls for an increase over the roughly $6.4 trillion that the White House expects the federal government to spend this fiscal year.

Though it is unlikely to be enacted, Mr. Biden’s budget blueprint lays out the president’s policy priorities for the second half of his term.

The budget outlines more than $4.5 trillion in tax increases, including higher tax rates on corporations and high-income individuals, expanded Medicare taxes on top earners and higher taxes on U.S. companies’ foreign income.

If lawmakers take raising taxes and cutting Medicare, Social Security, defense and veterans programs off the table, Congress would need to cut 85% of spending in all other categories to balance the budget in 10 years, according to the Committee for a Responsible Federal Budget, a nonpartisan group that advocates for reducing federal deficits.

While the White House budget broadly aims to rein in the deficit over time, it shows the deficit widening from roughly $1.4 trillion last fiscal year to nearly $1.6 trillion this year and $1.8 trillion next year. The amount of debt held by the public will rise to roughly 110% of gross domestic product in 2033 from roughly 98% this year.

Biden proposed raising the top individual tax rate to 39.6% from 37%, raising the corporate tax rate to 28% from 21%, taxing top earners’ capital gains at higher rates and increasing taxes on U.S. companies’ foreign profits to 21 percent from 10.5 percent. He also said he wants to extend tax cuts that are set to expire after 2025—but only for households making under $400,000. 

The White House said it has not yet determined exactly how to pay for it, and the cost of extending those tax cuts isn’t accounted for in the budget.


R_P

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Posted: Feb 22, 2023 - 11:44am

Who’s Winning and Losing the Economic War Over Ukraine?
westslope

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Location: BC sage brush steppe


Posted: Jan 31, 2023 - 1:28pm

 R_P wrote:
The increased cost of used vehicles is a spurious argument.  Vehicles are a capital item and purchase can be delayed.

Rural people will and do shop locally but will often drive an hour or more to load up on food and household supplies in the nearest urban area.

AFAIK, all 52 states are surveyed for the prices of consumer baskets.   If there was a big difference, it would show up in state-level data.  And lo and behold, it does according to Republican committee using Bureau of Economic Analysis data:

State Inflation Tracker October 2022

JEC REPUBLICANS | NOVEMBER 10, 2022

Rural folks tend to rely on home production.  This is from out-of-the-window observation; I am not aware of hard data.  More home production will tend to offset the impact of unexpected, runaway inflation.

The real story is the impact of inflation on the poor and low-income workers whether they live in rural or urban areas.  They may fare well compared to many in poor countries but are likely to proportionately suffer more than other citizens.     Congress should delete the Fed's employment mandate.  US policy elites should think hard about this tradition of using massive monetary stimulus to offset/paper over blowback from questionable US foreign policy decisions.  





R_P

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Posted: Jan 28, 2023 - 12:07pm

Rural Americans Aren’t Included in Inflation Figures – and for Them, the Cost of Living May Be Rising Faster
phineas

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Posted: Dec 8, 2022 - 6:17pm

 kurtster wrote:

Really ?  Neither of these two that you mention as well as most other big box outfits do not have unionized workers.



Well said!

/s
Steely_D

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Posted: Dec 8, 2022 - 4:50pm

 kurtster wrote:
This bailout is also just as bad as the student loan bailout, which is currently being fought out in the courts.

Making it a complete bailout was an idiotic idea. How would you NOT get pushback from the loan companies? They should've presented forgiveness of student loan interest and that might've gotten through without such a fuss.


Steely_D

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Gender: Male


Posted: Dec 8, 2022 - 4:49pm

 kurtster wrote:
The Central States Pension Fund based here in Cleveburg (Jackie Presser ?), or it used to be, was used as a slush fund for all kinds of activities including funding organized crime.  The Teamsters hierarchy over the years has done more for themselves than the rank and file.

Skimming, I thought this was another Trump topic with the Trump Organization convicted of skirting taxes by providing for themselves in illegal ways. Guess that teaches me to not read closely. Carry on.

R_P

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Posted: Dec 8, 2022 - 4:46pm

 kurtster wrote:
This bailout will only encourage more bad behaviour as others have mentioned.

Appeasement!
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