economicimpact.bsky.social

@economicimpact.bsky.social

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The dismissal of the obviously robust classified-documents case is a good demonstration of how the right wants government to work. www.washingtonpost.com/politics/202...

Analysis | A preview of government of, by and for a subset of ‘the people’www.washingtonpost.com That Judge Aileen M. Cannon’s dismissal of the classified documents case wasn’t surprising tells us a lot about how government might evolve over the next four years.

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economicimpact.bsky.social

There is never any shame in using the library, and much benefit in doing so. They are the closest thing to an unmitigated social good that we have in these United States, which is why the hard right is gunning so fervently for them these days. A world without libraries and librarians is a poor one.

My book-buying budget is not what it once was, which is precisely why I’m using the library more. It also gives me the opportunity to read books that I’m not sure I want to add to the home library (not that there’s a lot of room to do that anyway).

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economicimpact.bsky.social

In a glaring example of corruption, Trump commutes the 3-year sentence for Roger Stone, his loyal dirty-trickster who was convicted of obstruction, lying and threatening witnesses in connection with Wikileaks targeting the Clinton campaign to help Trump win in 2016. www.justice.gov/pardon/page/...

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economicimpact.bsky.social

I’m confident that these two pieces of excellent news which have taken place under the Biden administration’s watch—the IRS story in particular paints a sharp contrast with Trump/GOP demonization of the IRS—will dominate the news cycle.

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economicimpact.bsky.social

Reply to

Aaron Sojourner

How does recent growth compare to recent years? Economy added 2.61 million jobs over 12 months to June 2024. That's faster growth than any year ending between 2016 and 2020, though down from recent years.

Americans freaking out over that 1 year when prices rose 8%…

Turkish inflation cools for first time in 8 months https://www.ft.com/content/cb3beb0c-96d4-43e5-a13b-2fb1eee51bc9

Turkish inflation cools for first time in 8 monthswww.ft.com Consumer prices increase 71.6% in June in sign that Ankara’s pivot away from unconventional monetary policy is working

Thread

I haven’t been paying as much attention as usual to inflation indicators. But we’ve been getting a string of good news. One source of inflation pessimism was the high ratio of job openings to unemployed workers. That issue has now gone away, with unemployment still very low 1/

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economicimpact.bsky.social

In the one in a billion chance the Biden campaign sees this, use it, free or charge. You won't get a clearer assessment of November.

If I'm Biden I give a Fourth of July speech where I say the Supreme Court means this might be the last free Fourth of July.

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economicimpact.bsky.social

In other news, inflation looks beaten. The blip a few months ago looks like start-of-year price resets, and what’s left is lagged housing costs

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economicimpact.bsky.social

Not that I have any illusions this will be the main focus of today's discourse, but... May data! Income: +0.5% Spending: +0.2% Consumer prices: FLAT m/m, +2.6% y/y Core prices: +0.1% m/m, +2.6% y/y Data: www.bea.gov/news/2024/pe... #NumbersDay

www.bea.gov

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economicimpact.bsky.social

10yo: I don't really like solving the 4x4 Rubik's Cube. me: That's ok. It's still fun to play with. 10yo: Yeah, I just like to use it to makes Flags of the World.

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economicimpact.bsky.social

Reply to

Greg Sargent

James Carville says Biden should respond by directly telling Trump this: “When I took over from you, crime in the United States was rising. We are now in one of the greatest declines in crime we’ve had in modern American history.” 5/ newrepublic.com/article/1829...

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economicimpact.bsky.social

I believe today is the 34th anniversary of the greatest cliffhanger in television history. youtu.be/VNVduEAIIqU?...

Cliffhangeryoutu.be

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economicimpact.bsky.social

To address the "top 1000 richest" point, if you pull the IRS tax stats from the most recent available year, 2022, there were 45,404 households in the $10 million+ adjusted gross income category, which breaks down to an average of $35 million a household. I don't think removing them would do much.

Median household income is $75,149. For individuals, it's $45,134. For workers (excluding retirees), it's $42,131. Men make a median of $62,824 and women make a median of $51,123.

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economicimpact.bsky.social

This is one of the five exclusive prints available now at www.tdmacgregor.com/shop/tom-gauld-prints-at-macgregor-etc

Leaders demonstrate how their own “skin” was at risk and lead by example

Only 1 percent of the U.S. population serves in the armed forces. Some in former president Donald Trump’s camp say it’s time more young adults put “some skin in the game.”

In Trump’s orbit, some muse about mandatory military servicewww.washingtonpost.com Only 1 percent of the U.S. population serves in the military. Some in Donald Trump’s camp say it’s time more young adults put “some skin in the game.”

The MLB minimum guarantees you like $40,000 per game. For these guys to make betting truly interesting, they must be wagering at least something in that magnitude. How would a $500 bet even be a thing they could get excited about?

I was #cyberstruck at 4 pm, Charlotte city center on 6th Street. Good luck to those of you still in the game!

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economicimpact.bsky.social

April continues American employees' record job security streak, with 1.0% of employees fired. In the two decades of pre-pandemic data, lowest % of employees fired in a month was 1.1%, happened 2% of months. Since Jan'21, firing rate at or below 1.1% in 95% of months, including entire last year.

2.3 quits for each firing in April, per new JOLTS release, up from 2.1 in Mar. This Labor Leverage Ratio (LLR) proxies for worker bargaining power vis-a-vis their employer. The LLR rise was driven by a 3% increase in quits and a 5% decline in firings.

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economicimpact.bsky.social

i hope trump and the republicans see that no one is rioting in the streets in response to his 34 convictions because no one is willing to get arrested for him anymore.

Shifting my focus from doom-scrolling to…gleefreshing!

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economicimpact.bsky.social

Libraries and librarians are under attack in so many place in so many ways and I wanted to do something, so I made this image in support of them. You can download it or print it up to let folks know you support your libraries! drive.google.com/drive/folder...

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economicimpact.bsky.social

NC Attorney General Josh Stein (and candidate for Governor) is suing the owners of the Canton paper mill. (Get 'em, Josh!) Here's why the shuttering of the Canton mill is an economic disaster for western NC -- and why it's a massive ecological problem. Let me explain. #ncpol t.co/X4c16uTjVx

State suit alleges Pactiv violated grant agreementt.co Pactiv Evergreen’s shocking announcement that it would close its 115-year-old paper mill broke lots of hearts — and wallets — in Canton, but now, more...

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economicimpact.bsky.social

The gate agent just offered $1,700 for anyone traveling to Indianapolis to take a later flight, and no one took it which means that manifest is full of wealthy people who need to get to Indiana NOW.

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economicimpact.bsky.social

Growing up playing sim city gave me a real distorted view over how important arcologies would turn out to be in the future

Here with @tbonecats.bsky.social at Charlotte Economics club. Forecast for continuing high Fed Funds rate, growth in neighborhood of 2%

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economicimpact.bsky.social

"After taking office & examining 100s of pages of curriculum, Gore was shocked by what she found—and didn’t find. The pervasive indoctrination she had railed against simply did not exist. Children were not being sexualized & she could find no examples" of CRT. Former allies started threatening her.

A GOP Texas school board member campaigned against schools indoctrina…www.texastribune.org Courtney Gore, a Granbury ISD school board member, has disavowed the far-right platform she campaigned on. Her defiance has brought her backlash.

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economicimpact.bsky.social

We didn’t see the aurora borealis but we did do a drive thru car wash today

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economicimpact.bsky.social

We already know the answer to this value-free question from Politico to Mike Johnson: Republicans don’t need to pass a nationwide abortion ban; they are openly arguing that the Comstock Act *is* a nationwide abortion ban and it’s already on the books www.politico.com/news/magazin...