This rising tide only lifts Yachts

[BoyNextDoor]

Workers see their paychecks get smaller as inflation continues to rise

• Worker paychecks in July actually declined when accounting for inflation, according to Labor Department figures.
• On a year-over-year basis, wages were essentially flat in real terms, dragged down by price pressures from housing costs and other areas.
• The lag in wage growth comes while most other areas of the economy are performing well.
  ========
• The Richest 10% of Americans Now Own 84% of All Stocks
• Top 1 percent rake in 82% of economic, stock gains — the poor tread water

And as a special added bit of information, the wealthiest are moving out of the markets and getting into cash.

 

[muycurioso]

thank God there are no billionaire democrats

Workers see their paychecks get smaller as inflation continues to rise

• Worker paychecks in July actually declined when accounting for inflation, according to Labor Department figures.
• On a year-over-year basis, wages were essentially flat in real terms, dragged down by price pressures from housing costs and other areas.
• The lag in wage growth comes while most other areas of the economy are performing well.
  ========
• The Richest 10% of Americans Now Own 84% of All Stocks
• Top 1 percent rake in 82% of economic, stock gains — the poor tread water

And as a special added bit of information, the wealthiest are moving out of the markets and getting into cash.

Or uber rich democrat counties. Marin county got a waiver so they do not have to provide afforable housing.

 

[DawnODay]

So, BoyNextDoor, you resent how well people of color are now doing?

The U.S. economy continued to add jobs at a solid clip in May, with nonfarm payrolls up 223,000 and the unemployment rate falling to an 18-year low of 3.8 percent, the Bureau of Labor Statistics reported Friday....

Unemployment for blacks fell to a record-low 5.9 percent....​

J. Cox, Nonfarm payrolls increase by 223,000 in May, vs 188,000 estimate, CNBC (Jun. 1, 2018) (emphasis added).

The overall unemployment rate hit 3.8 percent, the lowest it has been since April 2000. Since 1955, after a postwar period of below-3-percent unemployment, the rate has been lower than it is now — 3.8 percent — in 27 months. Before 2000, the most recent time the unemployment rate was so low was in 1970.

But another metric hit a historic number. The unemployment rate among black Americans is now at 5.9 percent, the lowest it has ever been recorded....

Perhaps as important, the black unemployment rate has never been closer to the white unemployment rate....

Usually when black unemployment draws closer to white unemployment, it’s a function of spiking white unemployment rates. That’s not the case now.

As of May, the black unemployment rate is 2.4 points higher than the white unemployment rate, the first time it has ever been less than 3 points higher.​

P. Bump, The black unemployment rate has never been closer to the white unemployment rate, Washington Post (Jun 1, 2018) (emphasis added).

When Republicans passed the Tax Cuts and Jobs Act in December, congressional Democrats denounced the legislation as a reckless attempt to help wealthy corporations at the expense of everyone else. House Minority Leader Nancy Pelosi, D-Calif., famously dismissed the law’s benefits to most taxpayers as “crumbs.”

Six months later, many of the groups Pelosi and other Democrats warned would be worse off as a result of the tax reform legislation — including minorities, women, and small businesses — are not only thriving, they are experiencing some of the most notable economic growth in the country's history.

In January, the black unemployment rate was 7.7 percent, but by May, it had dropped to 5.9 percent, the lowest unemployment rate recorded for African-Americans since the Bureau of Labor Statistics began to report such figures in 1972. This rate is made even more impressive considering that prior to President Trump's time in office, African-Americans had never experienced an unemployment rate below seven percent.

Hispanic and Asian unemployment rates are also at historic lows. Hispanic unemployment in 2018 is on pace to be the lowest annual average ever, and the unemployment rate for Asians has dropped by nearly a full percentage point, from 3 to 2.1 percent, since January. That rate is now sitting at its lowest point in BLS records, which date back to 2003....

As difficult as it may be for Pelosi and other advocates of higher taxes and more government control to admit, the successes of the Republican tax reform legislation clearly illustrate that when people are empowered to keep more of their own money, everyone in society benefits.​

J. Haskins, Six months in, tax cuts are already providing historic gains for minorities, women, and small businesses, Washington Examiner (Jul. 3, 2018) (emphasis added).

Are you a racist, or simply an elitist, who does not like to see a rising working class?

The unemployment rate for those without a high school diploma fell to 5.1 percent in July, the Labor Department reported Friday, the lowest since the government began collecting data on such workers in 1992....

The data echoed other positive economic news recently, including a report last week showing the economy grew by 4.1 percent in the second quarter....

All this has translated into better economic opportunities for workers without a college degree, who account for a majority of the work force. It is a contingent that was championed by Mr. Trump during his presidential campaign, and one that both parties want to appeal to in the midterm elections in November.​

N.D. Schwartz & B. Casselman, Workers Hardest Hit by Recession Are Joining in Recovery (Aug. 3, 2018).

In short:

When Republicans passed the Tax Cuts and Jobs Act in December, congressional Democrats denounced the legislation as a reckless attempt to help wealthy corporations at the expense of everyone else. House Minority Leader Nancy Pelosi, D-Calif., famously dismissed the law’s benefits to most taxpayers as “crumbs.”

Six months later, many of the groups Pelosi and other Democrats warned would be worse off as a result of the tax reform legislation — including minorities, women, and small businesses — are not only thriving, they are experiencing some of the most notable economic growth in the country's history....

As difficult as it may be for Pelosi and other advocates of higher taxes and more government control to admit, the successes of the Republican tax reform legislation clearly illustrate that when people are empowered to keep more of their own money, everyone in society benefits.​

J. Haskins, Six months in, tax cuts are already providing historic gains for minorities, women, and small businesses, Washington Examiner (Jul. 3, 2018).

If all this had happened under a Democrat regime, you would be hailing it as the greatest achievement of the century. You only resent it because it shows Conservative economic policies work best.

 

[dan_c00000]

So, BoyNextDoor, you resent how well people of color are now doing?

Busting out the real racist card eh? I notice you didn't even bother replying to all my posts unmaksing you as a man on the internet and ruining your shitty arguments. Nice try.

 

[phrodeau]

Better check how well your yacht is moored. Wouldn’t want it to get cast adrift now.

 

[EmpressJosephine]

Busting out the real racist card eh? I notice you didn't even bother replying to all my posts unmaksing you as a man on the internet and ruining your shitty arguments. Nice try.

Clearly, you are just an unrepentant and unabashed liar, as you have seen these prior posts:

Sir, you are either totally deluded, or just a liar. Dawn has demolished you with the facts. As for Dawn being "a man pretending to be a woman on the internet," I already shared this with you on another thread:

Wow. You've totally lost your mind, and all of your credibility.

I know both Dawn and Princeps from outside of Literotica. I can assure you that they are not the same person and that both are the genders they portray here.

If you are that desperate as to make such an absurd claim, you must have no arguments to support your points.

I know Dawn in the real world. She is not a racist, and she is a woman.

It is interesting that you find it so hard to accept that a woman can outsmart you. Insecure in your masculinity much?

 

[BoyNextDoor]

... only lifting the yachts

Inequality is worsening and could hit U.S. credit rating: Moody's

Rising wealth and income inequality is casting a pall over the American economy, according to Moody's Investors Service.

Although growing disparity between the country's richest and poorest citizens has been tracked by everyone from economists to politicians, the research firm's analysis examines how the trend might impact the country's financial flexibility and creditworthiness. Moody's stark take: The widening gulf could sap the country's ability to repay its debts because of weaker economic growth and ineffective government institutions.

"Over the past two decades, income and wealth inequality have increased in the U.S. as high- and very high-income households have commanded rising shares of income and wealth," Moody's analysts wrote in the research report. "The top 10 percent of income earners have seen their overall median net worth increase by almost 200 percent since 1995, while the bottom 40 percent of income earners have experienced a decline in median net worth over the same period."

 

[paddy33]

Just watching all this from Canada, reading and watching all the channels, seeing what each side has to say, trying to keep an open mind because I really have no clue about deficits, tax cuts benefiting which ever group and how it affects all of us but I got to tell you folks in the US..... man you are really fucking up your own lives and country. The old saying "Those who do not learn history are doomed to repeat it."
You're beating the fuck out of your own country men and woman , not another country but yourselves. I've seen anger like this , in the Middle East or Nazi Germany. Take a look around, your life really isnt that horrific, sure there is some bad shit going on but if you compare to let's say WWII era then that makes you a fucking snow flake.
You folks really need to legalize pot and just chill.
The men and woman who gave their lives in the big wars fighting against real tyranny are looking down on you and just saying " seriousy, this is what I gave my life for??"
Give it a fucking rest and get over it. Lose the sense of entitlement that you think you are owed and just live your fucking life as best as you can and make life good for your children.
Or you can keep fighting your neighbours and explain to your children that your neighbours are bad people and how horrible life is in the U.S.A. You fucking idiots have no idea how good you have it.