“I Cannot Afford To Live”: Americans Get Emotional As The U.S. Economy Goes Off The Rails

[sealybobo]

Today, but not when this started.

Consumers were taught that they could have both high wages and benefits along with low prices for the goods they wanted to buy. I don't know if they have learned that they can't exist in the same country.

If you google Ford Record Profit Sharing 1999, 1998, keep going. You will see Ford was profitable and the employees were paid well.

Then 2000's came and if I remember correctly, it was an all out assault on unions. So Republicans practically cheered as uneducated blue collar workers lost their jobs to Mexico or China. But no problem, Bush's economy turned into a service economy. Because the dollar was so low, we now wait on rich people from other countries who come here to take advantage of the weak dollar. Service jobs, that don't pay nearly what manufacturing jobs do.

One reason I don't feel sorry for these deplorables is because they voted for Reagan Bush and Trump. Now they are falling for Trump? It's these former highly paid union workers who are butt hurt about losing their jobs and pensions, and now they are voting GOP? Fuck em!

 

[Markle]

How many manufacturing jobs have been lost in the United States since 2000 due to outsourcing?

As manufacturing lost about five million jobs in two decades, the low-wage service sector gained almost 30 million jobs

The elimination of nearly five million manufacturing jobs between 1998 and 2019 was accompanied by explosive job growth in service industries—growth that accounted for all U.S. employment growth in the nonfarm economy in this period. Most of the manufacturing jobs were shed between 1998 and 2007,

Most of the manufacturing jobs were shed between 1998 and 2007,

Most of the manufacturing jobs were shed between 1998 and 2007,

Botched policy responses to globalization have decimated manufacturing employment with often overlooked costs for Black, Brown, and other workers of color: Investing in infrastructure and rebalancing trade can create good jobs for all

The mismanaged integration of the United States into the global economy has devastated U.S. manufacturing workers and their communities. Globalization of our economy, driven by unfair trade, failed trade and investment deals, and, most importantly, currency manipulation and systematic...

www.epi.org

manufacturing job losses continued in the wake of the Great Recession (2007–2019).

Between 2001 and 2011 alone, the growth of the trade deficit with China displaced 958,800 jobs held by workers of color—representing 35.0% of total jobs displaced by the growing trade deficit with China. About three-fourths of jobs displaced were manufacturing jobs, which feature high pay and excellent benefits. As a result, in 2011 alone, those 958,800 workers of color displaced from higher-earning jobs in manufacturing and other traded industries into lower-earning jobs in nontraded industries earned $10,485 less in annual wages, which translates into a total loss of $10.1 billion per year.

 

[Markle]

Since Trump is talking about 100% tariffs, they will raise prices out of the stratosphere

President Trump has successfully negotiated with the best for decades and come out on top. What is said is for public consumption. What matters is what he accomplishes, which is remarkable.

 

[Harpy Eagle]

President Trump has successfully negotiated with the best for decades and come out on top. What is said is for public consumption. What matters is what he accomplishes, which is remarkable.

I hear this so often, and just have to laugh and shake my head

 

[Markle]

I hear this so often, and just have to laugh and shake my head

At the same time, you have no rebuttal. I like that!

 

[Harpy Eagle]

At the same time, you have no rebuttal. I like that!

There is no reason to try. Your mind is made up, you look at Trump and see something totally different than I do.

I look at his 4 years and see nothing remarkable on the good side. He rode the economy he was handed till 2020 and then he fucked up the response to COVID. There was nothing in his first 3 year he did that was amazing or even all that special. His trade war was a failure, he more than doubled the deficit before COVID. He did not decrease the size of Govt. With the singular exception of inflation none of his economic numbers were any better than what we are seeing now.

 

[AntonToo]

Sorry, I didn't copy down far enough on my page, that has been corrected.

Now show us all which things did not happen.

You are not answering the question - WHO WROTE IT?

I gave you the answer already, how hard can it be?

 

[citygator]

But it didn't happen that way during the days of President Trump. Why?

Don’t be a dweeb. That’s cherry picked industries to get an outcome. Here are all low wage earners.

 

[Markle]

There is no reason to try. Your mind is made up, you look at Trump and see something totally different than I do.

I look at his 4 years and see nothing remarkable on the good side. He rode the economy he was handed till 2020 and then he fucked up the response to COVID. There was nothing in his first 3 year he did that was amazing or even all that special. His trade war was a failure, he more than doubled the deficit before COVID. He did not decrease the size of Govt. With the singular exception of inflation none of his economic numbers were any better than what we are seeing now.

Of course, there is no reason for you to try. You have nothing, so all you do is rant on with a bunch of malarkey.

 

[sealybobo]

No prices were not depressed.

View attachment 933441Before Freddie Mac and the Democrats screwed it up, prices were right in line with historical trends.

Turn that graph on it's side with the big point facing left and it's Trump. Color in the hair. See the chin?

Trump Media Sheds $4.3 Billion From Peak Value as Trading Sours​

• Truth Social parent loses almost half its market cap from peak
• Value of Trump’s personal stake falls to $2.7 billion

Here's the thing. Billionaires don't care. Look at Elon and twitter.

 

[Harpy Eagle]

Of course, there is no reason for you to try. You have nothing, so all you do is rant on with a bunch of malarkey.

Ok, then tell me what economic measurers changed course once Trump took office as compare to the 6 year before.

And then tell me what economic measurers outside of inflation were better under Trump than they are now.

Should be a simple thing for you to do

 

[Markle]

Ok, then tell me what economic measurers changed course once Trump took office as compare to the 6 year before.

And then tell me what economic measurers outside of inflation were better under Trump than they are now.

Should be a simple thing for you to do

Okay. Since you insist.

Published December 21, 2018
Trump signs criminal justice reform bill
Adam ShawBy Adam Shaw, Judson Berger | Fox News Channel

But on the sidelines of that fight, the House overwhelmingly approved the criminal justice bill Thursday on a 358-36 vote, after the Senate passed it 87-12. The decisive passage marks a win for Trump as well as his senior adviser and son-in-law Jared Kushner, who advocated for the bill in the face of some conservative resistance.

https://www.foxnews.com/.../trump-signs-criminal-justice...

###

The Unemployment Rate Does Not Signal A Recession
Update - October 4, 2019
Oct. 4, 2019 10:29 AM ET

|The Unemployment Rate Does Not Signal A Recession: Update - October 4, 2019 | Seeking Alpha

###

Steve Moore: Middle-class Incomes Surge More Than $5,000 Under Trump Economy
BY PETER VICENZI
10/07/2019

Steve Moore: Middle-class Incomes Surge More Than $5,000 Under Trump Economy | FreedomWorks

###

Younger and Minority Workers Lead Wage Gains as Expansion Ages
Oct. 17, 2019, 8:59 AM

A tightening labor market with U.S. unemployment rate at a 50-year low is starting to result in higher wages for full-time workers, including younger people and minorities whose pay has lagged.

Median weekly earnings for Americans in the third quarter rose 3.6% to $919, outpacing inflation, the U.S. Labor Department reported Wednesday. Earnings for those aged 25 to 54, in their prime working years, rose by 5%, the fastest rate of growth in recent years.

Younger and Minority Workers Lead Wage Gains as Expansion Ages

###

ECONOMY
Record-low black unemployment cheered by black activists
Published 1 month ago on September 9, 2019

[...]

“Love him or hate him, this is an incredible economic accomplishment for the President and a tremendous benefit for American blacks,” said Project 21 member Derryck Green.

Along with a reported third straight month of 3.7 percent overall unemployment, the federal Bureau of Labor Statistics (BLS) August jobs report noted that the overall black unemployment rate fell half-a-percent to 5.5 percent. This is the lowest black unemployment rate ever recorded. BLS began reporting employment statistics by race in 1972. And with overall white unemployment at 3.4 percent, it is also the smallest reported gap between the races ever in terms of joblessness. Until recently, the racial employment disparity between blacks and whites has generally held to a 2-1 margin.

Record-low black unemployment cheered by black activists

###

Help wanted: Too many jobs and not enough workers in most states
Tim Henderson, Stateline Published 8:00 a.m. CT Oct. 15, 2019 | Updated 7:10 p.m. CT Oct. 15, 2019

In 39 states, there are more jobs than people looking for them, according to a Stateline analysis of June hiring and employment data from the federal Bureau of Labor Statistics.

Help wanted: Too many jobs and not enough workers in most states

###

America Created 266,000 Jobs in November
JOHN CARNEY 6 Dec 2019

The imaginary recession of 2019 is over.

The U.S. economy added 266,000 jobs for the month and the unemployment rate fell to 3.5 percent, matching the lowest level in 50 years.

Economists had expected the economy to add 180,000 jobs and for unemployment to remain unchanged at 3.6 percent, according to Econoday.

Adding to the picture of strength for the labor market, previous jobs numbers were revised up. September’s figure was revised up by 13,000 to 193,000. October was revised up by 28,000 to 156,000. Together, that adds 41,000 more jobs than previously reported.

[...]

Average hourly wages are up 3.14 percent compared with last year, above economist expectations. In manufacturing, the average workweek increased by 0.1 hour to 40.5 hours. Average hourly ages of private-sector production and nonsupervisory employees rose by 7 cents in the month to $23.83, a 0.22 percent gain.

[...]

America Created 266,000 Jobs in November

https://www.washingtonpost.com/busi...economy-added-jobs-jobless-rate-fell-percent/

Wall Street soars after economy added robust 266,000 jobs in November

###

Exports to China would increase to over $260 billion in 2020, and roughly $310 billion in 2021 if the deal holds

MSN

###

President Trump Invited Minnesota Hog Farmers to USMCA Signing Ceremony — But NOT Nancy Pelosi
by Jim Hoft January 29, 2020

President Trump signed the historic USMCA Trade Agreement on Wednesday at the White House.

The trade agreement replaces the disastrous NAFTA agreement signed into law during the Clinton years.

President Trump invited Minnesota Republicans and Minnesota hog farmers to the White House for the signing ceremony today.

HAH! President Trump Invited Minnesota Hog Farmers to USMCA Signing Ceremony -- But NOT Nancy Pelosi | The Gateway Pundit | by Jim Hoft

###

More MAGA Winning: Gallup Poll Has NEVER Recorded This Level Of Economic Optimism
Written by K. Walker on February 6, 2020

[...]

Americans feel better about their personal financial situation than they did under Obama, Clinton, or even Reagan. This year-to-year number has been rising since 2018 and has hit a 44-year record high according to Gallup’s “Mood of the Nation” economic survey. Gallup reports that 59% of Americans — nearly six in 10 — say that they are better off financially than they were a year ago, which is up from 50% last year.

[...]

There has also been a sharp decline in the percentage of people who say that they are financially worse off than a year ago. Only 20% of Americans are stating that as their financial reality, and that is a record low.

[...]

More MAGA Winning: Gallup Poll Has NEVER Recorded This Level Of Economic Optimism

###

ECONOMY

Job growth smashes expectations for February as unemployment falls back to 3.5%

PUBLISHED FRI, MAR 6 2020 8:30 AM EST UPDATED 5 HOURS AGO

KEY POINTS

Nonfarm payrolls rose by 273,000 in February vs. a 175,000 estimate, while the unemployment rate edged lower to 3.5%.

Job gains were widespread, with health care adding 57,000 to lead the way.

December and January’s estimates were revised upward by a total of 243,000.

https://www.cnbc.com/2020/03/06/us-jobs-report-february-2020.html



More?

 

[Harpy Eagle]

Okay. Since you insist.

Published December 21, 2018
Trump signs criminal justice reform bill
Adam ShawBy Adam Shaw, Judson Berger | Fox News Channel

But on the sidelines of that fight, the House overwhelmingly approved the criminal justice bill Thursday on a 358-36 vote, after the Senate passed it 87-12. The decisive passage marks a win for Trump as well as his senior adviser and son-in-law Jared Kushner, who advocated for the bill in the face of some conservative resistance.

https://www.foxnews.com/.../trump-signs-criminal-justice...

###

The Unemployment Rate Does Not Signal A Recession
Update - October 4, 2019
Oct. 4, 2019 10:29 AM ET

|The Unemployment Rate Does Not Signal A Recession: Update - October 4, 2019 | Seeking Alpha

###

Steve Moore: Middle-class Incomes Surge More Than $5,000 Under Trump Economy
BY PETER VICENZI
10/07/2019

Steve Moore: Middle-class Incomes Surge More Than $5,000 Under Trump Economy | FreedomWorks

###

Younger and Minority Workers Lead Wage Gains as Expansion Ages
Oct. 17, 2019, 8:59 AM

A tightening labor market with U.S. unemployment rate at a 50-year low is starting to result in higher wages for full-time workers, including younger people and minorities whose pay has lagged.

Median weekly earnings for Americans in the third quarter rose 3.6% to $919, outpacing inflation, the U.S. Labor Department reported Wednesday. Earnings for those aged 25 to 54, in their prime working years, rose by 5%, the fastest rate of growth in recent years.

Younger and Minority Workers Lead Wage Gains as Expansion Ages

###

ECONOMY
Record-low black unemployment cheered by black activists
Published 1 month ago on September 9, 2019

[...]

“Love him or hate him, this is an incredible economic accomplishment for the President and a tremendous benefit for American blacks,” said Project 21 member Derryck Green.

Along with a reported third straight month of 3.7 percent overall unemployment, the federal Bureau of Labor Statistics (BLS) August jobs report noted that the overall black unemployment rate fell half-a-percent to 5.5 percent. This is the lowest black unemployment rate ever recorded. BLS began reporting employment statistics by race in 1972. And with overall white unemployment at 3.4 percent, it is also the smallest reported gap between the races ever in terms of joblessness. Until recently, the racial employment disparity between blacks and whites has generally held to a 2-1 margin.

Record-low black unemployment cheered by black activists

###

Help wanted: Too many jobs and not enough workers in most states
Tim Henderson, Stateline Published 8:00 a.m. CT Oct. 15, 2019 | Updated 7:10 p.m. CT Oct. 15, 2019

In 39 states, there are more jobs than people looking for them, according to a Stateline analysis of June hiring and employment data from the federal Bureau of Labor Statistics.

Help wanted: Too many jobs and not enough workers in most states

###

America Created 266,000 Jobs in November
JOHN CARNEY 6 Dec 2019

The imaginary recession of 2019 is over.

The U.S. economy added 266,000 jobs for the month and the unemployment rate fell to 3.5 percent, matching the lowest level in 50 years.

Economists had expected the economy to add 180,000 jobs and for unemployment to remain unchanged at 3.6 percent, according to Econoday.

Adding to the picture of strength for the labor market, previous jobs numbers were revised up. September’s figure was revised up by 13,000 to 193,000. October was revised up by 28,000 to 156,000. Together, that adds 41,000 more jobs than previously reported.

[...]

Average hourly wages are up 3.14 percent compared with last year, above economist expectations. In manufacturing, the average workweek increased by 0.1 hour to 40.5 hours. Average hourly ages of private-sector production and nonsupervisory employees rose by 7 cents in the month to $23.83, a 0.22 percent gain.

[...]

America Created 266,000 Jobs in November

https://www.washingtonpost.com/busi...economy-added-jobs-jobless-rate-fell-percent/

Wall Street soars after economy added robust 266,000 jobs in November

###

Exports to China would increase to over $260 billion in 2020, and roughly $310 billion in 2021 if the deal holds

MSN

###

President Trump Invited Minnesota Hog Farmers to USMCA Signing Ceremony — But NOT Nancy Pelosi
by Jim Hoft January 29, 2020

President Trump signed the historic USMCA Trade Agreement on Wednesday at the White House.

The trade agreement replaces the disastrous NAFTA agreement signed into law during the Clinton years.

President Trump invited Minnesota Republicans and Minnesota hog farmers to the White House for the signing ceremony today.

HAH! President Trump Invited Minnesota Hog Farmers to USMCA Signing Ceremony -- But NOT Nancy Pelosi | The Gateway Pundit | by Jim Hoft

###

More MAGA Winning: Gallup Poll Has NEVER Recorded This Level Of Economic Optimism
Written by K. Walker on February 6, 2020

[...]

Americans feel better about their personal financial situation than they did under Obama, Clinton, or even Reagan. This year-to-year number has been rising since 2018 and has hit a 44-year record high according to Gallup’s “Mood of the Nation” economic survey. Gallup reports that 59% of Americans — nearly six in 10 — say that they are better off financially than they were a year ago, which is up from 50% last year.

[...]

There has also been a sharp decline in the percentage of people who say that they are financially worse off than a year ago. Only 20% of Americans are stating that as their financial reality, and that is a record low.

[...]

More MAGA Winning: Gallup Poll Has NEVER Recorded This Level Of Economic Optimism

###

ECONOMY

Job growth smashes expectations for February as unemployment falls back to 3.5%

PUBLISHED FRI, MAR 6 2020 8:30 AM EST UPDATED 5 HOURS AGO

KEY POINTS

Nonfarm payrolls rose by 273,000 in February vs. a 175,000 estimate, while the unemployment rate edged lower to 3.5%.

Job gains were widespread, with health care adding 57,000 to lead the way.

December and January’s estimates were revised upward by a total of 243,000.

https://www.cnbc.com/2020/03/06/us-jobs-report-february-2020.html



More?

Now, my turn....but I will not cherry pick one good month here and there, I will look at the bigger picture.

Jobs added by month:

Trump prior to COVID: Average 186,000.
Biden after COVID catch up: Average 275,000.

UE Rate:

Trump prior to COVID: 3.98% average. Lowest 3.5%
Biden after COVID catch up: 3.6% average. Lowest 3.4%

Black UE:

Trump Prior to COVID: 6.7% average. Lowest 6.1%
Biden after COVID catch up: 6:4%. Lowest 4.8%.

More later, work demands my time.

links...

Bureau of Labor Statistics Data

data.bls.gov

Bureau of Labor Statistics Data

data.bls.gov

Notice: Data not available: U.S. Bureau of Labor Statistics

data.bls.gov

 

[Markle]

Now, my turn....but I will not cherry pick one good month here and there, I will look at the bigger picture.

Jobs added by month:

Trump prior to COVID: Average 186,000.
Biden after COVID catch up: Average 275,000.

UE Rate:

Trump prior to COVID: 3.98% average. Lowest 3.5%
Biden after COVID catch up: 3.6% average. Lowest 3.4%

Black UE:

Trump Prior to COVID: 6.7% average. Lowest 6.1%
Biden after COVID catch up: 6:4%. Lowest 4.8%.

More later, work demands my time.

links...

Bureau of Labor Statistics Data

data.bls.gov

Bureau of Labor Statistics Data

data.bls.gov

Notice: Data not available: U.S. Bureau of Labor Statistics

data.bls.gov

You asked, I provided. NOW you want to play YEAH BUT, BUT, BUT!

 

[Harpy Eagle]

You asked, I provided. NOW you want to play YEAH BUT, BUT, BUT!

nice one...now lets look at the core working age group...higher now than anytime under Trump.

More people being retired is not a bad sign, it is a good sign for the economy.

Labor Force Participation Rate - 25-54 Yrs.

Graph and download economic data for Labor Force Participation Rate - 25-54 Yrs. (LNS11300060) from Jan 1948 to Mar 2024 about 25 to 54 years, participation, civilian, labor force, labor, household survey, rate, and USA.

fred.stlouisfed.org

 

[Ringo]

âRat bites and chronic asthmaâ: schools on frontline of UK housing crisis

Schools say increasing numbers of children are turning up sick because of dire housing conditions – if they turn up at all

www.theguardian.com

Britain. "A survey by the National Education Union found that 59% of teachers in England and Wales have seen their pupils often fall ill due to poverty, with housing a major factor .Children fall victim to rat bites and asthma."/
21st century capitalism is beautiful!
The article in the Guardian reads like Oliver Twist, with the difference that Dickens described the horrors of Victorian britcapitalism and now the "prosperity" of post-industrialism: 300,000 English children are living in poverty.

 

[Harpy Eagle]

You asked, I provided. NOW you want to play YEAH BUT, BUT, BUT!

 

[Harpy Eagle]

You asked, I provided. NOW you want to play YEAH BUT, BUT, BUT!

Yep, more people retired....sign of a good economy. I hope to join these ranks in just a few years.

 

[AntonToo]

No prices were not depressed.

View attachment 933441Before Freddie Mac and the Democrats screwed it up, prices were right in line with historical trends.

I suggest you learn how to read a basic graph before you start trying to argue about macroeconomics.

In 1997 real estate has been depreciating for 7 years from 1990 peak and “historical trend” at that point was ZERO GROWTH since 1950s.

 

[Dekster]

The economy is doing well which is good for the wealthy. A good economy means nothing to middle class and poor as the structure of power is all in the owners hands today. Labor unions are on the out, most states are "at will" employers, benefits have been allowed to be scraped back to nothing.

Basically the economy is good but that doesnt mean youre doing well unless you are at the top. Welcome to America.

I am nowhere near the top and we are doing about as well as we have in any other year. Isn't like Amazon profits affect me much other than those many times a day delivery trips through my hood can be annoying at times.