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Economics, and Finance articles. Engine @reddit2telegram Sister channel @r_war
June jobs report raises pressure on Fed for September rate cut
https://finance.yahoo.com/news/june-jobs-report-raises-pressure-on-fed-for-september-rate-cut-161539828.html
https://redd.it/1dw3h7s
@r_econ
June jobs report: US labor market adds 206,000 jobs, unemployment rate rises to 4.1%
https://finance.yahoo.com/news/june-jobs-report-us-labor-market-adds-206000-jobs-unemployment-rate-rises-to-41-112324134.html
https://redd.it/1dvwy28
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Canadian unemployment rate rose to 6.4% in June
https://www.bnnbloomberg.ca/canadian-unemployment-rate-rose-to-6-4-in-june-1.2093299
https://redd.it/1dvzczg
@r_econ
“Sorry, you now get 40% less water. Deal with it . . . "
https://preview.redd.it/vsviv6e60pad1.jpg?width=321&format=pjpg&auto=webp&s=6f4e5195300893bd82c627e965cffced8bfdf43c
Photo above - Oprah's 70-acre California mansion and estate. Want to guess how many millions of gallons of water it takes each month to keep this place looking like the Versailles Palace? Google doesn't know . . .
We can’t take water for granted any more. Australia is enduring an 18-year drought. Which apparently began 18,000 years ago, during the peak of the ice age. Mexico City is in perpetual crisis. A dozen US cities are virtually out, including Buffalo, NYC, St Louis, Austin, Phoenix, and the entire state of California.
If I tried to describe how California delivers water, it would take a day and half. Suffice it to say, there are multiple state agencies involved, apparently not on the same page. Enter the California State Water Resources Control Board (SWRCB). They’re going to cut the supply by 40% over the next 15 years. As immigrants flood in by the hundreds of thousands (pun alert). And as crop production supposedly needs to expand, to feed a growing US population. See link below.
Cutting water use 40% is going to save gazillions of gallons, and billions of dollars, right? There’s no way to tell how much California residents pay for water now, because 95 different municipal and regional suppliers are involved, each with their own unique pricing, sources, and rules. Billions and billions (of dollars) as Carl Sagan would say.
So nearly cutting water consumption by half HAS to save big money, right? Not so fast. The SWRCB is NOT mandating cuts on consumers or corporations. It’s simply going to impose HUGE fines ($10,000 per day) on each of the 95 water suppliers which fail to achieve the top-down mandated cuts. Want to guess where those water agencies will recover the money? If you guessed "from customers – through higher water bills", go to the head of the class.
All this provides air cover for the California legislature in an election year. The new rule pretends people won't have to pay more. Water use will just magically slow to a trickle over the next 15 years.
By the way, this regulation was NOT drafted, debated, or voted on by the legislature. The SWRCB bureaucrats and heads of the 95 suppliers dreamed it up all by themselves.
What this regulation DOESN’T do is provide more water. Californias rivers are completely tapped (Mexico has sued the USA because we virtually cut them off). Ground water is being pumped out to grow arugula and radicchio and marijuana. Photos of nearly empty reservoirs abound.
Last time I looked at a map, California had more than 800 miles of Pacific coastline. And we’re worried about rising sea levels because not enough people drive a Tesla. So, the plan apparently is to continue to throw big tax breaks at well-to-do EV drivers, but NOT accelerate research and implementation of saltwater desalinization. Or purification and recycling of wastewater. (Australia is way ahead of us on this). Our government will stick with taxes, fines, and EV rebates. This is why they never invent anything good: EVs, Solar Panels, Artificial Intelligence, Marvel Cinematic Universe movies . . . politicians and bureaucrats only think in terms of taxes and rebates.
Hey, Elon Musk: instead of screwing around with Twitter, and building electric-car-only tunnels under Vegas, and plotting an escape to planet Mars, can you possibly have your engineers work on something we REALLY need? Like desalinization? Here’s a hint . . . solar panels may need to be involved.
I’m just saying.
**~California Imposes Permanent Water Restrictions on Residents (msn.com)~**
https://redd.it/1dvwof3
@r_econ
US adds 206,000 jobs in June, unemployment rate highest since Nov. '21
https://finance.yahoo.com/news/june-jobs-report-us-labor-market-adds-206000-jobs-unemployment-rate-rises-to-41-112324134.html
https://redd.it/1dvwwpf
@r_econ
June jobs report: US labor market set to show 'cooling but not cool' trend continues
https://finance.yahoo.com/news/june-jobs-report-us-labor-market-set-to-show-cooling-but-not-cool-trend-continues-112324225.html
https://redd.it/1dvuun5
@r_econ
Americans feel the economy is working against them. How we can speed up economic growth.
https://www.usatoday.com/story/opinion/2024/07/04/economy-growth-jobs-innovation-tax-code/74281540007/
https://redd.it/1dvk80y
@r_econ
Apartments Could Be the Next Real Estate Business to Struggle
https://www.nytimes.com/2024/07/04/business/apartment-multifamily-loans-trouble.html
https://redd.it/1dvj82w
@r_econ
People don't understand national debt.
As the old credit theory of money says, money is debt. National debt is our publicly issued part of our money supply.
That is how economic stimulus works. Deficits increase public debt which increases amount of government issued money in the economy. As a result of deficit spending, banks own more government bonds and public owns more money at the banks.
Clearly, our modern economies need to have publicly issued parts of their money supply. They need to have government debt in the system. They need to have adequate amounts of it. People who are obsessed with deficit/debt reduction just don't know how economic systems works.
And the interest payments? Interest is paid for the benefit of the bondholders. Like any govt. spending it is money somebody in the economy gets. Or would you rather have inflation eat away value of pension savings because pension funds couldn't invest them in govt. bonds to get interest payments? I don't think so.
https://redd.it/1dv9rze
@r_econ
Republicans are out to destroy America. Is that good for the economy?
https://www.mediamatters.org/project-2025/heritage-foundation-president-celebrates-supreme-court-immunity-decision-we-are
https://redd.it/1dvc9tc
@r_econ
Americans feel the economy is working against them. How we can speed up economic growth.
https://eu.usatoday.com/story/opinion/2024/07/04/economy-growth-jobs-innovation-tax-code/74281540007/
https://redd.it/1dv3ycf
@r_econ
June jobs report: US labor market set to show 'cooling but not cool' trend continues
https://www.reddit.com/r/wallstreetbets_wins/s/noES5NEOfQ
https://redd.it/1dv4t3w
@r_econ
Decreasing rates?
https://fred.stlouisfed.org/series/M1SL
https://redd.it/1dv04fz
@r_econ
We’re passing through ‘the worst housing affordability crisis’ ever seen, former Housing Secretary says
https://fortune.com/2024/07/03/housing-affordability-crisis-ever-shaun-donovan/
https://redd.it/1duvu27
@r_econ
Jobless claims — aka layoffs — rise to 238,000 and stay near one-year high
https://www.marketwatch.com/amp/story/jobless-claims-rise-to-238-000-and-stay-near-one-year-high-c287346f
https://redd.it/1dujnn3
@r_econ
Unemployment Rises To 31-Month High—Here’s Why Market Isn’t Too Spooked
https://www.forbes.com/sites/dereksaul/2024/07/05/unemployment-rises-to-31-month-high-but-heres-why-market-isnt-too-spooked/
https://redd.it/1dw1qin
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US cities can now punish homelessness. Will it help or hurt a crisis?
https://www.bbc.co.uk/news/articles/c51y8jj64y5o
https://redd.it/1dw2v25
@r_econ
One Obstacle for Trump’s Promises: This Isn’t the 2016 Economy
https://www.nytimes.com/2024/07/05/business/economy/trump-tariffs-taxes-inflation.html
https://redd.it/1dvv89k
@r_econ
The Raiding of Red Lobster -
The bankrupt casual restaurant chain didn’t fail because of Endless Shrimp. Its problems date back to monopolist seafood conglomerates and a private equity play.
https://prospect.org/economy/2024-05-22-raiding-red-lobster/
https://redd.it/1dvxzqw
@r_econ
June jobs report: US labor market set to show 'cooling but not cool' trend continues
https://finance.yahoo.com/news/june-jobs-report-us-labor-market-set-to-show-cooling-but-not-cool-trend-continues-112324225.html
https://redd.it/1dvuvno
@r_econ
EU slaps tariffs of up to 38% on Chinese electric vehicles
https://www.dw.com/en/eu-slaps-tariffs-of-up-to-38-on-chinese-electric-vehicles/a-69557494
https://redd.it/1dvpxym
@r_econ
Please let more business do this :)
https://redd.it/1dvlx9q
@r_econ
Ford CEO Wants Americans to ‘Get Back in Love’ With the Small Cars Ford Gave Up On
https://www.thedrive.com/news/ford-ceo-wants-americans-to-get-back-in-love-with-the-small-cars-ford-gave-up-on
https://redd.it/1dvi0i2
@r_econ
Homes are unaffordable in 80% of larger U.S. counties, analysis finds
https://www.cbsnews.com/news/home-prices-sales-mortgage-affordable-housing/
https://redd.it/1dvckv5
@r_econ
German industrial orders decline amid weak foreign demand
https://www.dw.com/en/german-industrial-orders-decline-amid-weak-foreign-demand/a-69556146
https://redd.it/1dvbc4f
@r_econ
Please explain, why is the US economy currently not as horrible as many of my family members think it is?
https://www.npr.org/2024/01/25/1226811891/economy-gdp-recession-growth-interest-rates-inflation-federal-reserve
https://redd.it/1dv935v
@r_econ
France’s political turmoil: elections stir economic fears across Europe | The Express Tribune
https://tribune.com.pk/story/2475978/frances-political-turmoil-elections-stir-economic-fears-across-europe
https://redd.it/1dv6zx0
@r_econ
Are Airbnbs banned in Hawaii? New law seeks to cracks down on short-term rentals.
https://www.usatoday.com/story/travel/news/2024/05/02/new-law-phase-out-vacation-rentals-hawaii/73545856007/
https://redd.it/1duykys
@r_econ
Dior paid a contractor $57 to make a bag that sold for nearly $2,800
https://www.businessinsider.com/dior-italy-labor-investigation-contractors-lvmh-armani-luxury-bags-2024-7?amp
https://redd.it/1dut9ho
@r_econ
Fed Awaiting Additional Evidence Inflation on Track to 2% Goal
https://www.bloomberg.com/news/articles/2024-07-03/fed-awaiting-additional-evidence-inflation-on-track-to-2-goal
https://redd.it/1dul3mt
@r_econ
