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14 September 2016

Comments

BradC

Check your figures George. "Census Bureau reports the largest annual gain since it began releasing such data in 1967"

The Trumpeteers are going to have to focus on other 'bitches du jour' (and there are plenty) for entertainment.

http://www.wsj.com/articles/u-s-household-incomes-surged-5-2-in-2015-ending-slide-1473776295

What a hoot!

George Rebane

BradC 626pm - ??? What is your point Mr Cross?

fish

Ok Brad sock puppeting.......!? Interesting!

Thanks Bobby!

Russ

When I heard this economic report coming less than 60 days before an election with one of the candidates running on the record of the last seven years, to sudden have big uptick in median income, the hair on the back of my neck when up, and the BS detector alarm behind my right ear when off. How convenient! Is it real? Or, is the government playing name with the numbers? Like they are playing games with the climate data to create warming that is not happening. They could be creating economic progress when none is happening. I want to see more evidence, a second and third source that we are now over the economic hump.

Scott Obermuller

Largest annual gain? And what is the percentage of adults in the US working for various arms of the govt vs private enterprise compared to years past? And what is the rise in govt debt?
Go ahead and compare. It's not a problem to increase the middle class pay rates when they work mainly for the govt. Just go more deeply into govt debt and print more money.
Manufacturing jobs are down and govt work force is up. What can go wrong? Venezuela is certainly doing just fine with that program.

Russ Steele

More evidence that the Government may be cooking the economic books:

However, a year-to-year comparison could lack precision based on a redesigned survey from the Census Bureau in 2014, which is intended to capture more income than the old survey.

Comparing oranges to grapefruit is not very useful and can be misleading, and that is what the government is attempting to do, giving Obama economic talking points while stumping for Hillary and polishing his own legacy. His real legacy is the slowest recovery in history.

Bob Hobert

Think of the boost to 'median incomes' that will occur when minimum wage jobs are eliminated and replaced by robots.

Russ

More on the medium household income.

"The highest rate increase ever since the stats were collected." Tom Sullivan.

Bureau of Labor Statistics said the average income declined in 2016, which is an independent source, not like the Census Bureau that issued the statement, they are part of the White House. One of Obama's first acts as President was to being this formally independent agency under the control of the White House. Who are you going to believe, the White House controlled Census Bureau of the Bureau of Labor Statistics?

Sentier, a research agency formed by former Census Bureau Staffers who left the agency has this to say:

Sentier data deflated with the CPI (see above) shows a jump in real median household income in 2015 which Sentier says was due in large part to low gasoline prices. Median household income is still down from its early 2008 peak.

More details at Zerohedge:
http://www.zerohedge.com/news/2016-09-15/deconstructing-median-income-farce

Russ

Harvard Business School:

According to an annual competitiveness survey, dysfunction within federal government is the single biggest barrier to economic progress in the United States.

By Lonnie Shekhtman, Staff SEPTEMBER 15, 2016


This is not the product of the natural dips and bumps that typically punctuate our economy. According to a study released Thursday by Harvard Business School, thee biggest threat to US competitiveness is our crippled political system and the “unrealistic and ineffective national discourse on the reality of the challenges facing the U.S. economy,” study authors reported.

“A lot of people think that what’s going in is we had a bad recession and that we’re just recovering,” Michael Porter, a study author and co-chair of Harvard’s Competitiveness Project, which conducts an annual survey of US business leaders, tells CNBC. “What we find is that all the major data points that started moving in the wrong direction started in the late 90s and 2000s.”

These data points plot a picture that doesn’t bode well for small businesses and average American workers, whose pay and job opportunities are declining as they’re competing with workers around the globe.

“We used to have the most skilled workers in world; now we don’t,” Dr. Porter says.

According to thousands of Harvard alumni, MBA students and non-Harvard responders, the country’s biggest problem is a tax code that hasn’t been updated in decades, even as the world has become more globalized, digitized, and as closed-off economies have opened for business.

http://www.csmonitor.com/Business/new-economy/2016/0915/Politics-is-crippling-the-US-economy-Harvard-study-says

George Rebane

We must always pay mind to the current cost of government regulations to our economy which today exceeds $1,000,000,000,000 - that's like T in a trillion and adds an additional tax of about 5.5% of our GDP.

fish

IN WHICH WE ARE REGULARLY REMINDED THAT TAXES AND REGULATION HAVE NO IMPACT ON BEHAVIOR.......


http://nypost.com/2016/09/15/taxpayers-are-fleeing-new-york-in-droves/

Bill Tozer

Ca the new Nordic Paraside?

http://www.forbes.com/sites/joelkotkin/2016/09/15/californias-boom-is-poised-to-go-bust-and-liberals-dream-of-scandinavia-on-the-pacific/#2a734c6759b1

Russ Steele

Census report of big jump in income is a little too good to be true

Brookings Institute is not buying the big hike in household income either. Details here:

https://www.brookings.edu/blog/up-front/2016/09/16/census-report-of-big-jump-in-income-is-a-little-too-good-to-be-true/

fish

Well gentlenmen ...those are all very troubling developments....at least ObamaCare is validating the the professional judgements of intellectual luminaries like Paul Krugman by improving health care!


"Medical costs jump in August by largest amount in 32 years, CPI shows"



Bending the cost curve indeed.....

http://www.marketwatch.com/story/inflation-jumps-02-in-august-cpi-shows-2016-09-16

George Rebane

We continue to note the silence of the lambs (sheeple?) when the obvious and long predicted foibles of socialism are pointed out in these pages. The sad part is that socialists are stasists who never learn, and instead double down on their disastrous public policies vowing to do it right the next time. It was ever thus.

Russ

Only in Obama's Growing Economy: Sears & Kmart MAY Close

Moody's analysts say Sears and Kmart don't have enough money — or access to money — to stay in business.

In a note published Wednesday, the analysts downgraded Sears' liquidity rating, saying the company is bleeding cash and will have to continue to rely on outside funding or the sale of assets, such as real estate, to sustain operations.

More details here:

https://sierrafoothillcommentary.com/2016/09/17/only-in-obamas-growing-economy-sears-kmart-may-close-doors/

By by more Nevada County sales tax revenue!!

Russ

Texas’s sprawling cities are growing Science, Technology, Engineering, and Math (STEM) jobs faster than the Bay Area.

http://city-journal.org/html/urbanism-texas-style-14728.html

The Progressives are killing California!

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