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Economics, and Finance articles. Engine @reddit2telegram Sister channel @r_war
Seattle Mandates $4.99 Fee on Uber Eats to Help Drivers, Deliveries Crash 45%
https://mishtalk.com/economics/seattle-mandates-4-99-fee-on-uber-eats-to-help-drivers-deliveries-crash-45/
https://redd.it/1dniunj
@r_econ
While blaming inflation for rising prices, the country’s biggest food and restaurant companies are raking in billions and showering shareholders with payouts
https://portside.org/2024-06-10/big-food-big-profits-big-lies
https://redd.it/1dnhyg2
@r_econ
One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds
https://www.bloomberg.com/news/articles/2022-06-01/a-third-of-americans-making-250-000-say-costs-eat-entire-salary
https://redd.it/1dndy5x
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Monmouth poll: 46% of Americans struggle financially amid inflation
https://thehill.com/business/4729857-americans-struggling-financial-situation/
https://redd.it/1dnbjcq
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How an ‘Algorithm’ Turned Apartment Pools Green: RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments and inflating toxic property bubbles.
https://prospect.org/infrastructure/housing/2024-06-18-how-algorithm-turned-apartment-pools-green/
https://redd.it/1dnbe9x
@r_econ
US millionaires support Joe Biden’s plan to tax super-wealthy, poll shows
https://www.ft.com/content/bdc5fcf7-6c6c-4bb6-b371-6d52ba0d801e
https://redd.it/1dn6qn4
@r_econ
Elon Musk claims there are ‘far more’ smart, hardworking people in China than in the US
https://www.yahoo.com/finance/news/elon-musk-claims-far-more-102200121.html
https://redd.it/1dn10ey
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Argentina just hit their first week without inflation in food prices in 30 years
https://derechadiario.com.ar/argentina/primera-semana-sin-inflacion-en-30-anos-la-tercera-semana-de-junio-tuvo-un-0-de-aumento-de-precios-en-alimentos
https://redd.it/1dmy2q3
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US debt moving toward $50 trillion isn’t whole story
https://asiatimes.com/2024/06/us-debt-moving-toward-50-trillion-isnt-whole-story/
https://redd.it/1dmqva4
@r_econ
The U.S. Has Declined in Quality of Life Ranking, Dropping From 16th Place to 28th According to the Social Progress Index
hrnews1/the-u-s-has-declined-in-quality-of-life-ranking-dropping-from-16th-place-to-28th-according-to-the-1ecae4c92c80" rel="nofollow">https://medium.com/@hrnews1/the-u-s-has-declined-in-quality-of-life-ranking-dropping-from-16th-place-to-28th-according-to-the-1ecae4c92c80
https://redd.it/1dmse43
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Climate change is already making your bills more expensive
https://www.washingtonpost.com/business/2024/06/23/climate-change-warming-economy-impacts/
https://redd.it/1dmooo6
@r_econ
Making a living is one thing. Also supporting all the criminals/parasites/kleptocrats who have taken over economic and political systems is another thing.
"We must do away with the absolutely specious notion that everybody has to earn a living. It is a fact today that one in ten thousand of us can make a technological breakthrough capable of supporting all the rest. The youth of today are absolutely right in recognizing this nonsense of earning a living. We keep inventing jobs because of this false idea that everybody has to be employed at some kind of drudgery because, according to Malthusian-Darwinian theory, he must justify his right to exist. So we have inspectors of inspectors and people making instruments for inspectors to inspect inspectors. The true business of people should be to go back to school and think about whatever it was they were thinking about before somebody came along and told them they had to earn a living."-R. Buckminster Fuller
https://redd.it/1dmiwaj
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This is the ‘special sauce’ behind American exceptionalism—and why the U.S. stock market could continue dominating
https://fortune.com/2024/06/23/american-exceptionalism-us-economic-outlook-stock-market-forecast-dollar-dominance-europe-china/
https://redd.it/1dmkpi8
@r_econ
Newsom, lawmakers use cuts, reserves and ‘fiscal emergency’ declaration to solve budget deficit - Someone explain to me like I'm a normal human, how can California go from a projected $100b surplus to a $48b debt in two years? Seriously. WHERE'S THE MONEY
https://www.latimes.com/california/story/2024-06-22/newsom-democrats-use-cuts-reserves-and-fiscal-emergency-declaration-to-solve-california-budget-deficit
https://redd.it/1dmefn9
@r_econ
The national debt is over $34 trillion. It’s time to tell the truth about the U.S. government’s finances
https://fortune.com/2024/06/24/national-debt-34-trillion-america-government-finances/
https://redd.it/1dngsru
@r_econ
Trump’s tariffs would only make inflation worse
https://www.cbsnews.com/amp/news/trump-tariffs-proposal-10-percent-1700-cost-per-us-household/
https://redd.it/1dnev9u
@r_econ
Trump ran up national debt twice as much as Biden: new analysis
https://www.axios.com/2024/06/24/trump-biden-debt-deficits-election
https://redd.it/1dnegid
@r_econ
Trump ran up national debt twice as much as Biden: new analysis
https://www.axios.com/2024/06/24/trump-biden-debt-deficits-election
https://redd.it/1dncaub
@r_econ
Historic Inflation Events: Can You Identify Them All?
https://us.idyllic.app/quiz/eagqk2a2gw-historic-inflation-events-can-you-identify-them-all
https://redd.it/1dn87mr
@r_econ
What would be the net effect if you literally burned a million dollars?
Would it be the opposite of printing a million dollars?
https://redd.it/1dn0z6g
@r_econ
For most workers and retirees, President Biden’s plan protected them from dire cuts and insolvency that was soon to come:
“Without the historic support to protect workers’ pension benefits included in President Biden’s American Rescue Plan, these workers and retirees—who have already earned these benefits—would have faced estimated benefit reductions of roughly 45% by the end of the decade.
Over half of those million workers and retirees are in pension plans that had already cut benefits or were projected to
become insolvent by the end of 2025.
This announcement brings the total number of pensions protected by the American Rescue Plan to over 1 million, including over 52,000 Pennsylvanians, 71,000 Illinoisans, 71,000 New Yorkers, 62,000 Ohioans, 61,000 Michiganders, 39,000 Missourians, 33,000 Wisconsinites and many more.
Restored Harsh Pension Benefit Cuts That Had Already Been Made for Tens of Thousands of Retirees in 36 Multiemployer Plans.
Thanks to the ARP, once-struggling multiemployer pension plans will be able pay the full benefits earned by workers and retirees who participate in these plans through at least 2051.”
https://www.whitehouse.gov/briefing-room/statements-releases/2024/06/21/fact-sheet-biden-harris-administration-announces-over-one-million-pensions-protected-thanks-to-the-american-rescue-plan/
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But..but...it’s the saaaameee....democrats are sooo.......and and....boomers who have been paying for decades shouldn’t get their pensions.....and...and...boomers don’t want to sell their houses they’ve been paying for decades: property taxes, maintenance, insurance....those properties belong to the paper profits far right extremists libertarians bros Free of consequences market....
https://redd.it/1dn0lv7
@r_econ
A paper from Harvard estimates the cost of Long Covid in the USA is now US$3.7 trillion, or about 17% of pre-Covid US GDP. They say it rivals the cost of the Great Depression
https://scholar.harvard.edu/files/cutler/files/long_covid_update_7-22.pdf
https://redd.it/1dmtoe6
@r_econ
A paper from Harvard estimates the cost of Long Covid in the USA is now US$3.7 trillion, or about 17% of pre-Covid US GDP. They say it rivals the cost of the Great Depression
https://scholar.harvard.edu/files/cutler/files/long_covid_update_7-22.pdf
https://redd.it/1dmtoty
@r_econ
The Climate Is the Economy. Intensifying hurricanes, floods, and heat waves are wreaking havoc across the country—and on all of our bank accounts.
https://slate.com/business/2024/06/floods-storms-inflation-florida-texas-home-insurance-climate-change-economy.html
https://redd.it/1dmpsqy
@r_econ
India is a kleptocracy
I have been living in India now for about twenty years. Governments and businesses in India are basically criminals, as is my local community. Is this because India is a developing country, or is this true for all countries? I suspect the latter.
Now the authorities refuse to provide me with an aadhar card, which is the essential identity card, necessary for day to day existence. Perhaps they expect a large bribe, before they provide me one. I am unable to open new financial accounts, or use new mobile services providers, without the aadhar identity card. Because the ones I have now, are not providing good or required services. So, even the businesses are cheating their customers.
https://redd.it/1dmibwz
@r_econ
Experts: What is causing food prices to spike around the world?
https://www.carbonbrief.org/experts-what-is-causing-food-prices-to-spike-around-the-world/
https://redd.it/1dmkrf9
@r_econ
US tariffs guarantee EV cars will become unaffordable for incomes not in the top 20%. Everything is going to become more expensive.
The North American Market is only for the rich. Consumer goods may cost 5x what they do anywhere else in the world. If you are in the top 20%, you win. Otherwise, tighten your belt.
https://redd.it/1dmjewc
@r_econ
The Opaque Industry Secretly Inflating Prices for Prescription Drugs
https://www.nytimes.com/2024/06/21/business/prescription-drug-costs-pbm.html?unlocked_article_code=1.1U0.rgY6.Ryx97c8dAJCt
https://redd.it/1dmcuvy
@r_econ
Santa Barbara County produced 40% of California's legal cannabis in 2023. The county produced over $328 million in wholesale cannabis last year, making cannabis the county's 2nd most valuable crop only behind strawberries.
https://www.cannabisindustrydata.com/santa-barbaras-cannabis-farming-sector-expanded-by-45-last-year/
https://redd.it/1dmcaeo
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