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Fed study: Trump tariffs backfired, caused job losses and higher prices

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  • #16
    Originally posted by BroncoBeavis View Post

    It is actually a pilot program they're testing. Not that that has any business being discussed here.

    https://www.chicagotribune.com/busin...pwm-story.html
    That article is unclear because at one point it says "managers of select locations of company-owned establishments" and then in another it says "the yearly pay is reserved for restaurant general managers". General managers in restaurant and retail usually have responsibility for multiple locations or regions rather than just a single location. But perhaps they use the term differently, or the author of the article made a mistake.

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    • #17
      Originally posted by TonyR View Post

      That article is unclear because at one point it says "managers of select locations of company-owned establishments" and then in another it says "the yearly pay is reserved for restaurant general managers". General managers in restaurant and retail usually have responsibility for multiple locations or regions rather than just a single location. But perhaps they use the term differently, or the author of the article made a mistake.
      Guessing that terminology varies by company, or even owners. But I really doubt they'd make a press item out of paying regional-style managers $100k, which is probably pretty common practice.

      It would make sense to see if they find some productivity gains with a higher caliber of local manager. Something I have no doubt they might try in a few company stores.

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      • #18
        Originally posted by SleepingTiger View Post

        Well yeah, if I was China I would have a lot of regret and unhappiness if I had to spend an additional 200 billion.

        Seriously, how is this a bad thing for America? The S&P 500 and NASDAQ closed at a record high yesterday. An additional 200 billion for the next two years.

        The biggest news is ending the forced technology transfer China imposed on US companies to have access to their market. That is a huge win for American tech firms.

        The second phase of the trade talks started and the big item on that is cyber intrusion.
        Obviously, you completely ignored my post above. What do all the stock market gains do for the average working American family? I'll go ahead and answer that for you: Zip.

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        • #19
          Originally posted by Rohirrim View Post

          Obviously, you completely ignored my post above. What do all the stock market gains do for the average working American family? I'll go ahead and answer that for you: Zip.
          If they have any kind of investments, retirement or pension... not really true.

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          • #20
            Originally posted by BroncoBeavis View Post

            If they have any kind of investments, retirement or pension... not really true.
            Actually it is. It’s only made a difference if you have a decent sum invested. It may be statistically significant that you made 10% but if you only have 100k that’s only 10gs. That’s not going to be a huge change in your life. Not when someone with a mil made 100k.

            For the bottom half of the US the average is 54k invested. The great market isn't really changing their life much. Better than losing 5k tho

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            • #21
              Originally posted by ghwk View Post

              Actually it is. It’s only made a difference if you have a decent sum invested. It may be statistically significant that you made 10% but if you only have 100k that’s only 10gs. That’s not going to be a huge change in your life. Not when someone with a mil made 100k.

              For the bottom half of the US the average is 54k invested. The great market isn't really changing their life much. Better than losing 5k tho
              From an investment perspective, you're minimizing. Something you didn't, and would never do with a Democrat in office.

              One... January to January, the S&P was up 21%.
              Two... even taking your 10%/$10k at face value, in front of say a 30 year investment window, given S&P's 30 year performance history, that makes more like $90-$100k difference in final retirement nest egg.

              If anything resembling 20% were maintained over that time, they'd all be multi-millionaires.

              There are arguments to be had that stock market performance is not a great middle-class economic indicator. But to say it has no real impact is not defensible.



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              • #22
                I didn't minimize it but your sure maximized it. Someone at the 54k level has already been in 20-30 years and thats what they accumulated

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                • #23
                  Originally posted by ghwk View Post
                  I didn't minimize it but your sure maximized it. Someone at the 54k level has already been in 20-30 years and thats what they accumulated
                  I used your numbers and an age well above median. A 40 year old has 30 years to go. Plenty of middle class 40 years olds have $100k in 401k/IRA or pension value.

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                  • #24
                    Originally posted by BroncoBeavis View Post

                    It is actually a pilot program they're testing. Not that that has any business being discussed here.

                    https://www.chicagotribune.com/busin...pwm-story.html
                    shhhh dont tell them

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                    • #25
                      Originally posted by SleepingTiger View Post

                      Well yeah, if I was China I would have a lot of regret and unhappiness if I had to spend an additional 200 billion.

                      Seriously, how is this a bad thing for America? The S&P 500 and NASDAQ closed at a record high yesterday. An additional 200 billion for the next two years.

                      The biggest news is ending the forced technology transfer China imposed on US companies to have access to their market. That is a huge win for American tech firms.

                      The second phase of the trade talks started and the big item on that is cyber intrusion.
                      You can always tell when someone actually pays attention to financial markets and when someone is just parroting talking points.

                      The markets closed at record highs yesterday? Big whoop. The markets have been regularly posting record highs at close since 2013.

                      The stock markets have been on a bull run since 2009 (though took till 2013 to regain the previous high after the great recession).

                      The myth that Trump has supercharged the markets is just that, a myth. The average pace of gains the last couple years is nigh indistinguishable from the entirety of this bull run.

                      Comment


                      • #26
                        Originally posted by ghwk View Post

                        Actually it is. It’s only made a difference if you have a decent sum invested. It may be statistically significant that you made 10% but if you only have 100k that’s only 10gs. That’s not going to be a huge change in your life. Not when someone with a mil made 100k.

                        For the bottom half of the US the average is 54k invested. The great market isn't really changing their life much. Better than losing 5k tho
                        most families need increase in take home money, as they’re living expenses outpace almost anything else year over year.

                        what good are a booming retirement funds in qualified accounts that you can’t touch for 30 years, when your healthcare deductible every year? Or grocery bill? Or rent/ property taxes are up because of inflated home values?

                        id agree, a good economy works for everyone... this one, works for people like me... no kids, house almost paid for and tons of money in retirements that seems to just keep growing and growing at 42.... there is no way I could accomplish what I have with a family, not a prayer...

                        so it important to qualify what “good” is, not just look at markets prices and assume everybody is winning.

                        honestly does any of it matter with trillion dollar annual shortfalls in a “great” economy ... lol, Americans really are stupid tho

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                        • #27

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                          • #28
                            Austerity and an accompanying recession are both coming. Trump has just been trying to kick the can down the road so that it doesn't happen until his 2nd term.

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                            • #29
                              Donald Trump gives a **** about himself. Period. The rest of what he does is lies.

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