I probably should be happy about this, but I really don’t care. This seems like something that’s more important to experts and academics. Regardless of what the official indicators say, something just doesn’t seem right to me. I can’t necessarily quantify it or express it through some equation, something just feels…wrong.
But is it really progress, or did the price of everything jack up an it has come down just a bit because companys are finally getting the blowback they deserve as consumers reduce spending?
While that is a better trajectory, I do kind of have the mildly pessimistic view that a large part of the costs of good going down isn’t truly a positive sign for inflation, but the market forcing prices down due to decreased spending. I’m luckily in a decent position financially (my bills are paid, rent, while not cheap, is paid on time), but the cost of pretty much everything has become so much higher with not much of an increase in earning. If the minimum wage were forced up it would probably help, but idk, every person I’ve talked (in person) about the issue with is pretty negative about the issue.
On January 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases. In addition, 38 cities and counties will increase their minimum wages on January 1 above their state’s wage floors, adding to the number of workers likely to see increased earnings. In the absence of federal action, states and localities continue to take the lead in advancing fairer wage floors via legislation, ballot measures, and automatic inflation adjustments.
Don’t get me wrong, if these numbers are indicators that some people are going to experience less stress and that they will be less overwhelmed or that they will be made to feel more secure in their financial situation, I do think that is objectively a good thing and I’m happy for those people. It’s just that these numbers don’t make me feel any better about the economy or my personal financial situation. Maybe I should feel better, but I don’t. I generally feel pessimistic, and these numbers don’t change that.
It’s because this is a manufactured inflation (imo) that companies have created by greedy price gouging.
To imply that we should be rejoicing at the fact that companies are starting to drop prices slightly (even though the average person is struggling to afford GROCERIES) is quite frankly, disgusting.
Corporate price gouging has not been a primary driver of U.S. inflation, according to research published on Monday by economists at the Federal Reserve Bank of San Francisco.
While markups for motor vehicles and petroleum products did rise sharply during the 2021-2022 inflation surge, markups across the entire spectrum of U.S. goods and services have been relatively flat during the post-pandemic recovery, the bank’s latest Economic Letter showed.
“As such, rising markups have not been a main driver of the recent surge and subsequent decline in inflation during the current recovery,” wrote the bank’s research chief Sylvain Leduc and colleagues Huiyu Li and Zheng Liu.
Where is the research in the article? It’s basically citing one paper, and not really telling what its title is so you can’t just review it to make sure it’s valid and not missing something.
Thanks for linking, it was just suspect that it wasn’t linked in the Reuters article (I know it Reuters, but even then if it’s a claim that might be challenged they should link to the research).
The source reporting on the study should lend itself to the veracity of the information. I think there’s a bit of shooting the messenger going on. I trust Reuters as a reliable source of information, and if the study were lacking I feel it would be noted. The study was published in May, so I would hope if there were holes in the report they would have surfaced by now.
No, we should be taking this as what it is: the world's smallest W. Take it, have a beer or a smoke if you've got them, and go back to being angry tomorrow.
I could have sworn that this was the version I read, but they may have deleted it and posted a different article on the same topic.
We did it, y’all! Get the Champagne on ice and gather the townsfolk because America hath slain the beast known as inflation. (Or, at least, it’s hit a turning point.)
Huzzah! Maximum employment and price stability? Let’s party.
But wait — what’s that I hear? Not the riotous cheers of American consumers dancing in the streets. Not a chorus of workers singing about the strongest labor market of their lifetimes, and no — I can’t even pick up on the sound of what I’m sure is an army of economists demanding sainthood for Jay Powell. Instead, the single best economic news of the past decade is but a murmur of chit-chat, barely audible against a clamor of politicos shouting about President Joe Biden’s age.
So would you rather respond to that article or the posted one? Because the article you’re citing was written with a humorous bent, which I thought would bring some levity. But instead I see it’s taken seriously, so I suppose it was right to go down.
And it was the CNN article for those keeping score, not Yahoo.
True, though this is considered feeding into disinflation in the article, so it may not lead to ill effects of deflation.
U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents, firmly putting disinflation back on track and drawing the Federal Reserve another step closer to cutting interest rates in September.
I’m not a Minnesotan, but I really miss Al Franken’s radio show (not as much as I miss him in the Senate obviously), because I know he’d devote a section to it to Mike Lindell on a regular basis and I also know he must do a killer impersonation.
People are really missing the point intentionally, it isn’t about Biden’s Ability to govern in the next presidential Term, but about his ability to convince the swing voters about that, and on that front he is failing, and keeps falling in polls after every public event, he is 6 points behind Trump in most swing States
I think it is about both, candidly. Getting elected is priority one, but being able to effectively govern would be a pretty huge bonus, and that expectation is likely to influence voters.
Seems like these sort of hacks always involve the company’s data about its users, and never their own confidential contracts, trade secrets, or other leaks that could directly damage their own operations.
It makes a guy suspect they actually have a very good understanding of information security, but just don’t think yours is worth the bother.
Y’all are making a joke out of this headline but it really sucks
But he was quick to raise a far more dire possibility: that the drones could prompt a stress response in some birds that causes them to flee the beach and abandon their eggs, as several thousand elegant terns did following a recent drone crash in San Diego.
It’s honestly so horrible that this was approved. Drones are banned in National Parks for a reason. Birds have very few beach areas left where they can nest.
Governments don’t order such specificity. They would have, at most, told M$ that Skype is being used by Hamas and that there would be an audit on the situation, so M$ over-corrected to be better safe than sorry
I 💯 support work from home and understand it’s benefits … but at the same time, when I work from home I find myself way more depressed and less connected than when I go into the office. I enjoy my work and like my coworkers, which I know is not the case for everyone. I wish that affordable housing was pushed as a way to promote working in the office, rather than just banning WFH. It’s nice to have the choice, people should be able to afford to live near their work.
This for real. Wish commutes weren’t so god damn awful and long that in office jobs weren’t so soul sucking. Or god forbid we get compensated for our commutes or having to live closer to offices and pay exorbitant rents/taxes.
Like okay, your office is downtown in a major city. It costs $3k or some dumb shit for a studio apartment but the job only pays $80k a year and of course no overtime. So either I have to live an hour out and take a slow ass dirty train or drive in (and pay for parking too?!), or you let me work from home and I save two hours of my life per day. You as a corporation should be lobbying politically for more housing to bring down prices and providing a housing allowance or something if you want me coming in. “Nobody wants to work anymore!!” Like dude pay my rent and I’ll be in the office every day.
I think it would do me some good to have some in-person interaction, but I refuse to take a job where it’s forced upon me because it’s just too expensive to the point where even if the salary is $50k higher I don’t think I would go back to an office even on a hybrid/part-time basis. Work from home is the practical solution to this problem, because the other solutions are too radical for corporate America to try on a wider scale.
I totally think that workplaces should be required to pay for commute time. I’m curious if it’s been tried somewhere else before. It’s a long-shot at this point in time, but that doesn’t make it any less worth advocating for.
The problem is they lose their email address, which is tied to just about every digital account they have. Losing your email can royally fuck you. Many sites send an email to the old email of you try to change it, so you’ll have to get in touch with support to get it changed, and then support will want proof it’s your account somehow, and the whole process is gonna take days or weeks to fix all your accounts. God help you if you forgot any passwords because now you can’t login or even reset the password since that goes through email.
Everyone should own their own domain and have ownership of their digital life. If you don’t, then you are borrowing something that can be taken from you easily.
No one can take my email from me. Even if the current provider goes out of business, I can always point it elsewhere.
Holy shit, that’s a pretentious way to say you think you’re hot shit while showing you’ve barely got a chin above script kiddie.
Where the fuck are you gonna cram billions of new DNS records? You trying to nuke the whole system?
Billions of new IP addresses? From where, your ass? IPv4’s fucking dead and IPv6 is crawling.
You want billions of shitty home servers? Why not just hand cybercriminals the keys to everyone’s data?
No big email providers for spam filtering? Hope you like dick pills and Nigerian princes.
Home servers for email? Great plan. Who needs reliability when the power goes out or your shit internet drops?
You think everyone can afford this? Some people can barely pay rent, let alone run a fucking server.
“Private” home servers? Please. They’d fold faster than a house of cards in a hurricane up against any direct persistent attack from any capable threat actors.
Try running a big mailing list on your puny home setup. Watch that shit crash and burn.
Good luck explaining to the feds why you can’t cough up subpoenaed emails.
You really think billions of clueless users can handle this? It’s like giving toddlers chainsaws.
Everyone run their own email on locally hosted domains…? Jesus fucking Christ. What are you, 14?
Edit: lemy.lol has MX records that point to icloud.
This toolbag indeed uses someone else’s services for their email exchange.
WFH is supports the very policies that the government wants, less pollution less traffic more mental health. Unfortunately the business lobbies want us scurrying around like rats again because you know. Profits. Cats out of the bag now, no going back.
It’s not even about profits. If companies don’t have to pay for expensive office buildings they can save money. It’s all the middle management realising their jobs are are unnecessary.
True for companies that aren’t locked into their pre-covid space. Some have decades-long leases, others own the buildings outright. My last place was able to walk away from a lease that they had just signed months before covid hit, and downsized to a space that just had some meeting rooms, a couple offices for execs, social space and server rooms. No need for a bunch of desks, they went 100% remote during lockdown and decided to stay that way permanently.
If there is less demand for people leasing offices, the property valuation will drop. There’s also another school of arguments where people commuting drives business to the areas they commute through, but idk how much that argument still holds with the rise of online shopping.
I see a lot of people here blaming the TX grid but not all of Texas is under ERCOT.
SE of Houston, power is supplied by Entergy Texas which also supplies power along most of the gulf coast.
Here is a statement from them, “As of 6:30 p.m. Friday, Entergy Texas crews have safely restored electrical power to approximately 199,100 of the 252,460 customers impacted by Hurricane Beryl. We expect all customers who can safely take power to be restored no later than Monday, July 15.”
These are not TX policy decisions causing these outages. It is simply economical decisions that are made throughout the national grid system to make it affordable to deliver the vast quantities of power that people need at a price they can afford. It’s simply a fact of life that when you have such a powerful storm passing through, any human built system is going to fall to the power of mother nature.
I was a electrical engineer back in college, so if anyone has any specific things they want to ask, I’ll try to respond.
I’m not an economist though so I can’t tell you why it’s more important for peoples heating and cooling bills to be closer to $100 a month instead of $300 and why the policy decisions are made to support that. And this is with modest electrical usage setting my AC to cool down to a conservative 78-80 degrees since I’m cheap and want to conserve energy.
As a Texan, the problem is we have 0 below ground lines, we don’t stage workers even when we know storms are coming, we don’t require structures to be built in resilient ways (including solar or wind facilities for new builds) and the end result is that our communities aren’t resilient.
Sure we pay less in taxes (note: if you’re wealthy), but you need a generator and an interlock kit to have the electric uptime other places have. You’re still paying a tax to live here, it’s just not going to the government to give you a nicer community, it’s going to businesses so their execs can get wealthier.
We don’t have 0 below lines. Look at downtown houston. They have below ground lines. Look at recent subdivisions in places like Fannett, TX, they are below ground there.
Are you talking about transmission lines? I’m not sure of any place that runs those below ground.
I was indeed using hyperbole. Med center also has a lot of ground lines. But the vast majority is unmaintained, extremely aged above ground infrastructure. That might be okay if we didn’t live somewhere that gets hurricanes and other severe events, but we do.
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