American Economics Thread
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Jura The idiot
General
Winning Powerball ticket sold in California
LOL didn't know somebody had won more then one bil
"... in , soon after the odds changed. That payout reached a record $1.6 billion -- the one and only time it has crossed the billion dollar mark."
which sounded great until I followed the link and, oops, [the winners] "... opted to take the lump sum. After taxes, they'll receive $187.2 million."
LOL didn't know somebody had won more then one bil
"... in , soon after the odds changed. That payout reached a record $1.6 billion -- the one and only time it has crossed the billion dollar mark."
which sounded great until I followed the link and, oops, [the winners] "... opted to take the lump sum. After taxes, they'll receive $187.2 million."
Jura The idiot
General
it's very recent (I highlighted the key part inside)
Press Release
June 14, 2017
Federal Reserve issues FOMC statement
For release at 2:00 p.m. EDT
Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year. Job gains have moderated but have been solid, on average, since the beginning of the year, and the unemployment rate has declined. Household spending has picked up in recent months, and business fixed investment has continued to expand. On a 12-month basis, inflation has declined recently and, like the measure excluding food and energy prices, is running somewhat below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further. Inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near term but to stabilize around the Committee's 2 percent objective over the medium term. Near term risks to the economic outlook appear roughly balanced, but the Committee is monitoring inflation developments closely.
In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1 to 1-1/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.
In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.
The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee currently expects to begin implementing a balance sheet normalization program this year, provided that the economy evolves broadly as anticipated. This program, which would gradually reduce the Federal Reserve's securities holdings by decreasing reinvestment of principal payments from those securities, is described in the accompanying addendum to the Committee's Policy Normalization Principles and Plans.
Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Patrick Harker; Robert S. Kaplan; and Jerome H. Powell. Voting against the action was Neel Kashkari, who preferred at this meeting to maintain the existing target range for the federal funds rate.
Press Release
June 14, 2017
Federal Reserve issues FOMC statement
For release at 2:00 p.m. EDT
Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year. Job gains have moderated but have been solid, on average, since the beginning of the year, and the unemployment rate has declined. Household spending has picked up in recent months, and business fixed investment has continued to expand. On a 12-month basis, inflation has declined recently and, like the measure excluding food and energy prices, is running somewhat below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further. Inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near term but to stabilize around the Committee's 2 percent objective over the medium term. Near term risks to the economic outlook appear roughly balanced, but the Committee is monitoring inflation developments closely.
In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1 to 1-1/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.
In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.
The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee currently expects to begin implementing a balance sheet normalization program this year, provided that the economy evolves broadly as anticipated. This program, which would gradually reduce the Federal Reserve's securities holdings by decreasing reinvestment of principal payments from those securities, is described in the accompanying addendum to the Committee's Policy Normalization Principles and Plans.
Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Patrick Harker; Robert S. Kaplan; and Jerome H. Powell. Voting against the action was Neel Kashkari, who preferred at this meeting to maintain the existing target range for the federal funds rate.
So the leading interest rate will remain unhealthily low because the US economy cannot live even with a historically average interest rate of 3 to 5%.
Jura The idiot
General
Equation
Lieutenant General
Groceries delivery by one of them Amazon drones.
Hendrik_2000
Lieutenant General
Watching English show in Netflix about the Politic in England after WWII where both end of politic spectrum coalesce to the center giving England political stability and allow it to spread the prosperity
As America's Trapped In Ideological Civil War, China Advances Economy
,
CONTRIBUTOR
I write about the Chinese economy and financial sector.
Opinions expressed by Forbes Contributors are their own.
China is poised to move its economy forward faster in the short to medium run than America, a nation caught in political paralysis. While China may not become surpass the U.S. as an economic power, it is coming closer than ever.
Frames of Chinese President Xi Jinping, US President Donald Trump and Russian President Vladimir Putin are display in a photo shop in Beijing on April 17, 2017. (FRED DUFOUR/AFP/Getty Images)
While the United States engages in an ideological civil war about the role of the government in the economy, China has continued to advance its economy under a stable regime, albeit authoritarian. Many analysts have noted that China has an opportunity to become a world leader on several fronts—economy, international relations, environment—while America’s legislative juggernaut grinds to a halt, and the differences in legislation passed in the U.S. and China after President Trump took office could not throw this into starker relief.
America, polarized and paralyzed
On the economic front, the U.S. is divided into Trump supporters, who advocate for privatization of markets and public goods, including national monuments, Medicare, air traffic control, and infrastructure. Trump supporters also back policies that focus on reducing trade and reshoring jobs. On the other hand are Trump opponents, who push for accessible health care, free trade, environmental protection, “green” sector job creation. Donald Trump has acted as a lightning rod for this polarizing controversy, which has resulted in legislative gridlock and national discontent.
Trump did issue executive orders that impact the economy, including an order to enforce countervailing duties, which were implemented on Chinese steel imports last year, one potentially permitting offshore drilling, and an order for the U.S. government to buy and hire more American products and workers. None of these is considered major, which would require approval of the Legislature.
China, full-speed ahead
By contrast, since Trump's inauguration date on January 20 of this year, , including measures setting up a large fund to promote high valued added service exports, regulating dangerous asset management products, altering the exchange rate valuation, furthering overcapacity policies, and reforming state owned enterprises, among others. These are major, economy-shaping changes that reflect China’s desire to restructure its economy while reining in risks. Furthermore, China’s One Belt One Road policy, which aims to build up infrastructure across Europe, Asia and Africa will have a major economic impact on both China and the world, with the U.S. playing a supporting, rather than a leading, role.
Ongoing differences, dangerous new similarity
To some extent, the difference between China and the U.S. is due to a contrast in regime type. China, with an authoritarian government, can carry out policies from the top down without having to enter into a long debate or even a conversation, while the U.S. must pass most major policies by obtaining the cooperation of Congress and the President, which can take months or years.
Recommended by Forbes
However, in less savory ways, China and the U.S. under President Trump are becoming more alike. China has passed legislation that infringes on human rights—for example, banning certain Muslim names for Uighur babies and banning Muslim beards and body coverings. This type of policy would normally have little place in the United States, except of late, as Trump attempted twice to implement a Muslim ban.
Implications for the U.S. and China
This means that the U.S. is at a level of ethics that it has called China out on previously, but at a rate of legislation that is far overshadowed by that of China. Put simply, America is losing its economic and moral superiority to China, with no end in sight. Many Americans would like to see the President support policies and regimes that are more human-rights friendly. This just underlines the fact that the current civil war in the U.S. is one of ideas, one that drills down to the level of basic values and world views.
China is poised to move its economy forward faster in the short to medium run than America, a nation caught in political paralysis. While China may not become surpass the U.S. as an economic power, it is coming closer than ever.
As America's Trapped In Ideological Civil War, China Advances Economy
,
CONTRIBUTOR
I write about the Chinese economy and financial sector.
Opinions expressed by Forbes Contributors are their own.
China is poised to move its economy forward faster in the short to medium run than America, a nation caught in political paralysis. While China may not become surpass the U.S. as an economic power, it is coming closer than ever.
Frames of Chinese President Xi Jinping, US President Donald Trump and Russian President Vladimir Putin are display in a photo shop in Beijing on April 17, 2017. (FRED DUFOUR/AFP/Getty Images)
While the United States engages in an ideological civil war about the role of the government in the economy, China has continued to advance its economy under a stable regime, albeit authoritarian. Many analysts have noted that China has an opportunity to become a world leader on several fronts—economy, international relations, environment—while America’s legislative juggernaut grinds to a halt, and the differences in legislation passed in the U.S. and China after President Trump took office could not throw this into starker relief.
America, polarized and paralyzed
On the economic front, the U.S. is divided into Trump supporters, who advocate for privatization of markets and public goods, including national monuments, Medicare, air traffic control, and infrastructure. Trump supporters also back policies that focus on reducing trade and reshoring jobs. On the other hand are Trump opponents, who push for accessible health care, free trade, environmental protection, “green” sector job creation. Donald Trump has acted as a lightning rod for this polarizing controversy, which has resulted in legislative gridlock and national discontent.
Trump did issue executive orders that impact the economy, including an order to enforce countervailing duties, which were implemented on Chinese steel imports last year, one potentially permitting offshore drilling, and an order for the U.S. government to buy and hire more American products and workers. None of these is considered major, which would require approval of the Legislature.
China, full-speed ahead
By contrast, since Trump's inauguration date on January 20 of this year, , including measures setting up a large fund to promote high valued added service exports, regulating dangerous asset management products, altering the exchange rate valuation, furthering overcapacity policies, and reforming state owned enterprises, among others. These are major, economy-shaping changes that reflect China’s desire to restructure its economy while reining in risks. Furthermore, China’s One Belt One Road policy, which aims to build up infrastructure across Europe, Asia and Africa will have a major economic impact on both China and the world, with the U.S. playing a supporting, rather than a leading, role.
Ongoing differences, dangerous new similarity
To some extent, the difference between China and the U.S. is due to a contrast in regime type. China, with an authoritarian government, can carry out policies from the top down without having to enter into a long debate or even a conversation, while the U.S. must pass most major policies by obtaining the cooperation of Congress and the President, which can take months or years.
Recommended by Forbes
However, in less savory ways, China and the U.S. under President Trump are becoming more alike. China has passed legislation that infringes on human rights—for example, banning certain Muslim names for Uighur babies and banning Muslim beards and body coverings. This type of policy would normally have little place in the United States, except of late, as Trump attempted twice to implement a Muslim ban.
Implications for the U.S. and China
This means that the U.S. is at a level of ethics that it has called China out on previously, but at a rate of legislation that is far overshadowed by that of China. Put simply, America is losing its economic and moral superiority to China, with no end in sight. Many Americans would like to see the President support policies and regimes that are more human-rights friendly. This just underlines the fact that the current civil war in the U.S. is one of ideas, one that drills down to the level of basic values and world views.
China is poised to move its economy forward faster in the short to medium run than America, a nation caught in political paralysis. While China may not become surpass the U.S. as an economic power, it is coming closer than ever.
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Human right generally plays a small role within the US and is mainly used in propaganda internationally. Last week I heard a discussion on BBC Radio 4 about the populist party that was developing in the late 19th century especially among the poor country folk who were being exploited by the rail roads and other monopolists. ( The rail roads weren't monopolists in the connections between cities but they were for a farmer wanting to get his crop to the market). The members and potential members included white as well as black people and to destroy that party the Southern states ( Democrats at the time ) introduced the Jim Crow laws to achieve Apartheid and make it impossible for many black people to vote. Also we still see many unarmed black people being killed by the police.