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At this rate Capitalism looks even more hopeless than Communism.
Why?
A.) Capitalism will eventually outsource all the decent jobs which doesn't happen in Communism.
B.) Capitalism is leading to cultural replacement by immigrants here for cheap labor.
That has little to do with capitalism. That has to do with the American consumer.
Since the 80's, our country has become obsessed with cheap. I don't care where it's made, what the quality, just sell it to me as cheap as possible.
So you and I are competitors in the widget business. You pay your workers well and offer great benefits. I decide to move my operations overseas. Now I start taking your customers because I can produce my widgets and ship them back to the US for half the cost it takes to make yours. Now you have two choices: move overseas like I did, or join your former employees in the Unemployment Line.
That's the problem.
and the fix is simple, put tariffs on the foreign built crap, or don't buy it and opt for quality at a higher price.
Even easier criminalize outsourcing throw a few bastids behind bars & problem solved by example
that is a socialist tactic, but you are a socialist, so I understand why you would suggest that.
Who cares?
I care more about someone being put behind bars for outsourcing jobs, then arresting someone for peeing down in an ally-way.
PS
A lot of states used to be so strict in their corporate charters, that they wouldn't even allow transfers between US states of factory jobs, or even sometimes goods.
So, this "Socialism" you're speaking of, is NOTHING NEW, ton of states did just that back in the day.
So was Poland.Truth is, the real Right-Wing IS AUTHORITARIAN, they micro-manage social Conservative values.
Then there's a ton of Republicans who think high Taxes = Socialism to pay for programs.
North Korea is Socialism in it's pure form, and they actually have low taxes, in fact nearly no taxes.
But that's somewhat offset by the fact that they have shoot to kill orders for anyone trying to leave & go somewhere that does have taxes.
But you probably find that acceptable.
North Korea is a great failure of Communism.
Capitalism causes diversity & immigration.
Poland became more Polish ethnically under Communism.
Poland becomes less Polish ethnically under Capitalism.
Capitalism is terrible it is probably even worse than Communism.
The USA is stagnating economically like Commies had just we import tons of hostile immigrants that Commies did not.
We have cronyism. Capitalism isn’t the problem.Capitalism is eating itself just as Marx predicted.
These statistics are claimed to be true:
1. 50% of American wage earners earn less than $30k.
2. 63% of Americans can’t afford a $1,000 emergency.
3. 80% of American workers live pay check to pay check.
4. Since 1973 American productivity has increased by 77%, yet hourly pay has grown by 12%. If the minimum wage was tracked to productivity, it would be over $20 an hour today.
5. 41% of American workers earn less than $12 per hour, with most without employer provided HC.
6. Since 2008 the federal government and the Fed created $26 trillion out of nothing. Was any of this enormous sum spent on infrastructure, public education, universal HC, bail out 5.1 million people who lost their homes?
Not a pretty picture for the poor and middle class. Hopefully things are improving or we are headed for big trouble.
Yep it is the mother of all corrections heading our way and they is no way to stop it.
Jo
It has nothing to do with saving or spending. It has everything to do with opportunity, freedom, and justice for all.Yeah it is all the fault of poor and middle class. Government, establishment, political parties, capitalism, the ruling class are blameless.This stuff has been true for a long timeThese statistics are claimed to be true:
1. 50% of American wage earners earn less than $30k.
2. 63% of Americans can’t afford a $1,000 emergency.
3. 80% of American workers live pay check to pay check.
4. Since 1973 American productivity has increased by 77%, yet hourly pay has grown by 12%. If the minimum wage was tracked to productivity, it would be over $20 an hour today.
5. 41% of American workers earn less than $12 per hour, with most without employer provided HC.
6. Since 2008 the federal government and the Fed created $26 trillion out of nothing. Was any of this enormous sum spent on infrastructure, public education, universal HC, bail out 5.1 million people who lost their homes?
Not a pretty picture for the poor and middle class. Hopefully things are improving or we are headed for big trouble.
Americans do not save
Do not like to save
LMFAO!
The government establishment, political parties, capitalism, the ruling class never made me spend more than I make
The government establishment, political parties, capitalism, the ruling class never stopped me from saving money
Stop blaming everyone else for your failures
Baloney socialist programs caused the unfunded programs. Those were reserved for the states, which limit govt power.Socialist policies and ifnignor the Constitution got us here. All the warnings we're given to not do those things. We didn't listen. And here we are.So was Poland.But that's somewhat offset by the fact that they have shoot to kill orders for anyone trying to leave & go somewhere that does have taxes.
But you probably find that acceptable.
North Korea is a great failure of Communism.
Capitalism causes diversity & immigration.
Poland became more Polish ethnically under Communism.
Poland becomes less Polish ethnically under Capitalism.
Capitalism is terrible it is probably even worse than Communism.
The USA is stagnating economically like Commies had just we import tons of hostile immigrants that Commies did not.
Capitalist policies got us here.
It might sound "Cool" that it's Commies hiring Illegal Immigrants on farms, in construction, and restaurants, it might sound "Cool" that Commies are shipping your jobs to China, Vietnam, and Mexico, it might sound "Cool" that Commies are laying people off, and jacking up prices.
But, that's not reality, the reality is this is all Capitalists.
Capitalism is FAILING us big time, just like Communism FAILED too.
Capitalism requires regulation, plain, and simple.
You pay 600 a month for cable and a cell phone?Life is way more expensive. My parents got their house, which is 2x the size of mine for 25% of the cost. The cable bill back then was like $50. Now I pay $250. There was no cell phone bill. Now I pay $350. Car prices and gas prices have skyrocketed. College tuition and food costs are way up. Middle class gets squeezed. Wealthy don’t care and the poor get enough Govt support to continuously game the system.
Get HULU and a Trac phone
So, you have nothing but cliche's and memes and a little bit of envy. Not much of an argument.Under that line of thinking, government should pay our house or rental insurance, our car insurance, life insurance, appliance, lawn and garden equipment insurance.
regulate....not pay ...big dif Ray
General welfare clause - WikipediaAfter all, according to you, the federal government is now constitutionally obligated so no American ever gets screwed. I would love to know where that clause is in the document.
In the 1%er's coffers....But we are running at FULL EMPLOYMENT, where are the BIG income increases for the lower 70% of American workers?
You haven't said how it is that they are raping you.
we're being told so....Do you think that you should be in control of all of that?
The Chamber of Commerce wants them to keep coming for cheap labor.......and increased profits.......This was made even clearer when the Koch Brothers were recently demanding more Amnesty and migrant labor or threatening to stop paying politicians.
I am not seeing that.
30 yrs brother.....lot of stuff i'm looking to forget!I worked 2 jobs AND volunteered 24 hrs per week on an ambulance, no days off, and on the rigs, not even holidays off
The system is fine, without crony capitalism.
The government enriches the extreme wealthy with all sorts of goodies and sweet heart deal. It is the American Way.
/——/ Here’s some proof: A chart shows how everything has changed since Trump became president
Yep it is the mother of all corrections heading our way and they is no way to stop it.
Jo
I think you're right.
Americans stubbornly continue to ride the "all is great" bubble while reality paints a different picture.
Sooner or later, reality wins.
They just keep buying cars they can't afford, houses they can't afford and generally keep acting like it's 1965.
FEW have any savings. Most are one serious problem away from insolvency.
Capitalists do what comes naturally. Acquire capital for the sake of acquiring more.We have cronyism. Capitalism isn’t the problem.Capitalism is eating itself just as Marx predicted.
Capitalism is eating itself just as Marx predicted.
It has nothing to do with saving or spending. It has everything to do with opportunity, freedom, and justice for all.Yeah it is all the fault of poor and middle class. Government, establishment, political parties, capitalism, the ruling class are blameless.This stuff has been true for a long timeThese statistics are claimed to be true:
1. 50% of American wage earners earn less than $30k.
2. 63% of Americans can’t afford a $1,000 emergency.
3. 80% of American workers live pay check to pay check.
4. Since 1973 American productivity has increased by 77%, yet hourly pay has grown by 12%. If the minimum wage was tracked to productivity, it would be over $20 an hour today.
5. 41% of American workers earn less than $12 per hour, with most without employer provided HC.
6. Since 2008 the federal government and the Fed created $26 trillion out of nothing. Was any of this enormous sum spent on infrastructure, public education, universal HC, bail out 5.1 million people who lost their homes?
Not a pretty picture for the poor and middle class. Hopefully things are improving or we are headed for big trouble.
Americans do not save
Do not like to save
LMFAO!
The government establishment, political parties, capitalism, the ruling class never made me spend more than I make
The government establishment, political parties, capitalism, the ruling class never stopped me from saving money
Stop blaming everyone else for your failures
I’ve done extraordinarily well but unlike you, I care about my fellow man and the future of the country.
When enormous wealth is obtained by a small elite, opportunity, freedom, and justice are diminished for the vast majority of the people. We are witnessing it first hand but some like you, are blind to reality.
YOU said "The USA is stagnating economically like Commies", and I just proved you wrong. Again.Stop being so ignorant.So was Poland.North Korea is a great failure of Communism.
Capitalism causes diversity & immigration.
Poland became more Polish ethnically under Communism.
Poland becomes less Polish ethnically under Capitalism.
Capitalism is terrible it is probably even worse than Communism.
The USA is stagnating economically like Commies had just we import tons of hostile immigrants that Commies did not.
With 4.1% U.S. GDP Growth, What Comes Next?
Same news-source, that says something very, very different.
Wages aren't keeping up with inflation, so real-wages have dropped, which adjust for inflation.
It's you who need to stop being so ignorant.
Trump's Economic Scorecard: Higher Inflation, Flat Wages And A Ballooning Federal Deficit
Chuck JonesContributori
MarketsI cover technology companies, worldwide economies and the stock marketinflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning
President Trump's Economic ScorecardDESIGN: NICK DESANTIS, FORBES STAFF
In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic items. While GDP hit 4.1% for the June quarter, but only 2.9% year over year, and the unemployment rate is hovering at all-time lows, inflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning .
The following reports on inflation and wages could be a couple of the reasons that many American workers are not feeling better about their financial situation. And add to those concerns about Trump’s tariffs, especially as it applies to products such as soybeans. To get an overview of economic data while Trump has been President check out “Trump’s Economic Scorecard: 18 Months Into His Presidency.”
Inflation continues to creep up
One impact from the CPI and PPI inflation reports this past week should reinforce the willingness of the Federal Reserve to raise its target interest rates in September and if inflation remains at these levels to do so again in December and in 2019.
Also, keep in mind that the inflationary impacts of Trump’s tariffs have not fully made their way into prices. As businesses costs increase a significant portion will be passed onto consumers.
For July the CPI, or Consumer Price Index, rose at a 2.9% rate which matches last months increase. This is close to double the 1.6% rate when Trump was elected and up from the 2.1% increase in December 2016, the month before he entered office.
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The Core CPI, which excludes food and energy, increased from 2.3% year over year for June to 2.4% in July. This is the highest Core CPI in over 10 years. The Fed is anticipating that the Core rate will level off soon per Capital Economics, but Capital Economics forecasts that, “core inflation will continue to trend higher.”
Core CPIDESIGN: NICK DESANTIS, FORBES STAFF
The Producer Price Index, or PPI, has risen over a full percentage point over the past year from 2.0% in July 2017 to 3.3% this year. The Core PPI, without food and energy, has risen almost a full percentage point from 2.0% to 2.8%. Typically the PPI leads the CPI as businesses should eventually pass at least some of their higher costs onto consumers.
Real wages are essentially flat in the past year
As inflation increases it puts a damper on wages. While average hourly earnings have increased from $26.34 per hour to $27.05, or 2.7% over the past year, inflation at 2.9% has actually lead to real wages falling a small amount from $10.78 per hour a year ago to $10.76 in July this year.
U.S. Hourly WagesDESIGN: NICK DESANTIS, FORBES STAFF
Federal deficit is ballooning
The U.S. Treasury published its July Monthly Treasury Statement and it showed that the first 10 months of fiscal 2018’s deficit of $$684 billion has surpassed all of fiscal 2017’s deficit of $666 billion. One of the downsides of Trump’s tax cuts is its impact on the Federal deficit as it is projected to increase to $1 trillion in fiscal 2020 per the Congressional Budget Office.
U.S. Federal DeficitDESIGN: NICK DESANTIS, FORBES STAFF
It has nothing to do with saving or spending. It has everything to do with opportunity, freedom, and justice for all.Yeah it is all the fault of poor and middle class. Government, establishment, political parties, capitalism, the ruling class are blameless.This stuff has been true for a long timeThese statistics are claimed to be true:
1. 50% of American wage earners earn less than $30k.
2. 63% of Americans can’t afford a $1,000 emergency.
3. 80% of American workers live pay check to pay check.
4. Since 1973 American productivity has increased by 77%, yet hourly pay has grown by 12%. If the minimum wage was tracked to productivity, it would be over $20 an hour today.
5. 41% of American workers earn less than $12 per hour, with most without employer provided HC.
6. Since 2008 the federal government and the Fed created $26 trillion out of nothing. Was any of this enormous sum spent on infrastructure, public education, universal HC, bail out 5.1 million people who lost their homes?
Not a pretty picture for the poor and middle class. Hopefully things are improving or we are headed for big trouble.
Americans do not save
Do not like to save
LMFAO!
The government establishment, political parties, capitalism, the ruling class never made me spend more than I make
The government establishment, political parties, capitalism, the ruling class never stopped me from saving money
Stop blaming everyone else for your failures
I’ve done extraordinarily well but unlike you, I care about my fellow man and the future of the country.
When enormous wealth is obtained by a small elite, opportunity, freedom, and justice are diminished for the vast majority of the people. We are witnessing it first hand but some like you, are blind to reality.
your statement that enormous wealth is obtained by a small elite is simply wrong, I do agree that most americans fail to save enough, but most have some form of 401K which is a very good way to save and the value of those accounts has gone up as our economy has improved. Our middle class is better off today than it was two years ago, that is clear.
we do reward our athletes and entertainers with ridiculous amounts of money for contributing nothing to society. that needs to stop. CEO pay in some cases is also ridiculous and that also should be curtailed. BUT how do we do that in a free society? How do we reverse the laws of supply and demand? I don't think we can. If you know a way, please share it.
YOU said "The USA is stagnating economically like Commies", and I just proved you wrong. Again.Stop being so ignorant.So was Poland.
Capitalism causes diversity & immigration.
Poland became more Polish ethnically under Communism.
Poland becomes less Polish ethnically under Capitalism.
Capitalism is terrible it is probably even worse than Communism.
The USA is stagnating economically like Commies had just we import tons of hostile immigrants that Commies did not.
With 4.1% U.S. GDP Growth, What Comes Next?
Same news-source, that says something very, very different.
Wages aren't keeping up with inflation, so real-wages have dropped, which adjust for inflation.
It's you who need to stop being so ignorant.
Trump's Economic Scorecard: Higher Inflation, Flat Wages And A Ballooning Federal Deficit
Chuck JonesContributori
MarketsI cover technology companies, worldwide economies and the stock marketinflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning
President Trump's Economic ScorecardDESIGN: NICK DESANTIS, FORBES STAFF
In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic items. While GDP hit 4.1% for the June quarter, but only 2.9% year over year, and the unemployment rate is hovering at all-time lows, inflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning .
The following reports on inflation and wages could be a couple of the reasons that many American workers are not feeling better about their financial situation. And add to those concerns about Trump’s tariffs, especially as it applies to products such as soybeans. To get an overview of economic data while Trump has been President check out “Trump’s Economic Scorecard: 18 Months Into His Presidency.”
Inflation continues to creep up
One impact from the CPI and PPI inflation reports this past week should reinforce the willingness of the Federal Reserve to raise its target interest rates in September and if inflation remains at these levels to do so again in December and in 2019.
Also, keep in mind that the inflationary impacts of Trump’s tariffs have not fully made their way into prices. As businesses costs increase a significant portion will be passed onto consumers.
For July the CPI, or Consumer Price Index, rose at a 2.9% rate which matches last months increase. This is close to double the 1.6% rate when Trump was elected and up from the 2.1% increase in December 2016, the month before he entered office.
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The Core CPI, which excludes food and energy, increased from 2.3% year over year for June to 2.4% in July. This is the highest Core CPI in over 10 years. The Fed is anticipating that the Core rate will level off soon per Capital Economics, but Capital Economics forecasts that, “core inflation will continue to trend higher.”
Core CPIDESIGN: NICK DESANTIS, FORBES STAFF
The Producer Price Index, or PPI, has risen over a full percentage point over the past year from 2.0% in July 2017 to 3.3% this year. The Core PPI, without food and energy, has risen almost a full percentage point from 2.0% to 2.8%. Typically the PPI leads the CPI as businesses should eventually pass at least some of their higher costs onto consumers.
Real wages are essentially flat in the past year
As inflation increases it puts a damper on wages. While average hourly earnings have increased from $26.34 per hour to $27.05, or 2.7% over the past year, inflation at 2.9% has actually lead to real wages falling a small amount from $10.78 per hour a year ago to $10.76 in July this year.
U.S. Hourly WagesDESIGN: NICK DESANTIS, FORBES STAFF
Federal deficit is ballooning
The U.S. Treasury published its July Monthly Treasury Statement and it showed that the first 10 months of fiscal 2018’s deficit of $$684 billion has surpassed all of fiscal 2017’s deficit of $666 billion. One of the downsides of Trump’s tax cuts is its impact on the Federal deficit as it is projected to increase to $1 trillion in fiscal 2020 per the Congressional Budget Office.
U.S. Federal DeficitDESIGN: NICK DESANTIS, FORBES STAFF
Soviets had many periods of "GDP Growth" what they had few of is "Real Wage growth" which adjusts for cost of living AKA Inflation.
Soviets took until around 1970 to equal the real wages of 1913, of course all this period had a lot of periods of GDP growth, just they didn't see the improvement because of inflation.
Now the USA is looking about as bad, from 1970 - 2018 say, there was basically little or no real wage growth.
YOU said "The USA is stagnating economically like Commies", and I just proved you wrong. Again.Stop being so ignorant.Capitalism causes diversity & immigration.
Poland became more Polish ethnically under Communism.
Poland becomes less Polish ethnically under Capitalism.
Capitalism is terrible it is probably even worse than Communism.
The USA is stagnating economically like Commies had just we import tons of hostile immigrants that Commies did not.
With 4.1% U.S. GDP Growth, What Comes Next?
Same news-source, that says something very, very different.
Wages aren't keeping up with inflation, so real-wages have dropped, which adjust for inflation.
It's you who need to stop being so ignorant.
Trump's Economic Scorecard: Higher Inflation, Flat Wages And A Ballooning Federal Deficit
Chuck JonesContributori
MarketsI cover technology companies, worldwide economies and the stock marketinflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning
President Trump's Economic ScorecardDESIGN: NICK DESANTIS, FORBES STAFF
In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic items. While GDP hit 4.1% for the June quarter, but only 2.9% year over year, and the unemployment rate is hovering at all-time lows, inflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning .
The following reports on inflation and wages could be a couple of the reasons that many American workers are not feeling better about their financial situation. And add to those concerns about Trump’s tariffs, especially as it applies to products such as soybeans. To get an overview of economic data while Trump has been President check out “Trump’s Economic Scorecard: 18 Months Into His Presidency.”
Inflation continues to creep up
One impact from the CPI and PPI inflation reports this past week should reinforce the willingness of the Federal Reserve to raise its target interest rates in September and if inflation remains at these levels to do so again in December and in 2019.
Also, keep in mind that the inflationary impacts of Trump’s tariffs have not fully made their way into prices. As businesses costs increase a significant portion will be passed onto consumers.
For July the CPI, or Consumer Price Index, rose at a 2.9% rate which matches last months increase. This is close to double the 1.6% rate when Trump was elected and up from the 2.1% increase in December 2016, the month before he entered office.
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The Core CPI, which excludes food and energy, increased from 2.3% year over year for June to 2.4% in July. This is the highest Core CPI in over 10 years. The Fed is anticipating that the Core rate will level off soon per Capital Economics, but Capital Economics forecasts that, “core inflation will continue to trend higher.”
Core CPIDESIGN: NICK DESANTIS, FORBES STAFF
The Producer Price Index, or PPI, has risen over a full percentage point over the past year from 2.0% in July 2017 to 3.3% this year. The Core PPI, without food and energy, has risen almost a full percentage point from 2.0% to 2.8%. Typically the PPI leads the CPI as businesses should eventually pass at least some of their higher costs onto consumers.
Real wages are essentially flat in the past year
As inflation increases it puts a damper on wages. While average hourly earnings have increased from $26.34 per hour to $27.05, or 2.7% over the past year, inflation at 2.9% has actually lead to real wages falling a small amount from $10.78 per hour a year ago to $10.76 in July this year.
U.S. Hourly WagesDESIGN: NICK DESANTIS, FORBES STAFF
Federal deficit is ballooning
The U.S. Treasury published its July Monthly Treasury Statement and it showed that the first 10 months of fiscal 2018’s deficit of $$684 billion has surpassed all of fiscal 2017’s deficit of $666 billion. One of the downsides of Trump’s tax cuts is its impact on the Federal deficit as it is projected to increase to $1 trillion in fiscal 2020 per the Congressional Budget Office.
U.S. Federal DeficitDESIGN: NICK DESANTIS, FORBES STAFF
Soviets had many periods of "GDP Growth" what they had few of is "Real Wage growth" which adjusts for cost of living AKA Inflation.
Soviets took until around 1970 to equal the real wages of 1913, of course all this period had a lot of periods of GDP growth, just they didn't see the improvement because of inflation.
Now the USA is looking about as bad, from 1970 - 2018 say, there was basically little or no real wage growth.
Some True some false there...
The wage numbers are skewed under Obama by numerous legislated minimum wage mandates that by right should not be included with the other free market stats because it is not a free market stat in and of itself.
JO
YOU said "The USA is stagnating economically like Commies", and I just proved you wrong. Again.Stop being so ignorant.Capitalism causes diversity & immigration.
Poland became more Polish ethnically under Communism.
Poland becomes less Polish ethnically under Capitalism.
Capitalism is terrible it is probably even worse than Communism.
The USA is stagnating economically like Commies had just we import tons of hostile immigrants that Commies did not.
With 4.1% U.S. GDP Growth, What Comes Next?
Same news-source, that says something very, very different.
Wages aren't keeping up with inflation, so real-wages have dropped, which adjust for inflation.
It's you who need to stop being so ignorant.
Trump's Economic Scorecard: Higher Inflation, Flat Wages And A Ballooning Federal Deficit
Chuck JonesContributori
MarketsI cover technology companies, worldwide economies and the stock marketinflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning
President Trump's Economic ScorecardDESIGN: NICK DESANTIS, FORBES STAFF
In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic items. While GDP hit 4.1% for the June quarter, but only 2.9% year over year, and the unemployment rate is hovering at all-time lows, inflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning .
The following reports on inflation and wages could be a couple of the reasons that many American workers are not feeling better about their financial situation. And add to those concerns about Trump’s tariffs, especially as it applies to products such as soybeans. To get an overview of economic data while Trump has been President check out “Trump’s Economic Scorecard: 18 Months Into His Presidency.”
Inflation continues to creep up
One impact from the CPI and PPI inflation reports this past week should reinforce the willingness of the Federal Reserve to raise its target interest rates in September and if inflation remains at these levels to do so again in December and in 2019.
Also, keep in mind that the inflationary impacts of Trump’s tariffs have not fully made their way into prices. As businesses costs increase a significant portion will be passed onto consumers.
For July the CPI, or Consumer Price Index, rose at a 2.9% rate which matches last months increase. This is close to double the 1.6% rate when Trump was elected and up from the 2.1% increase in December 2016, the month before he entered office.
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The Core CPI, which excludes food and energy, increased from 2.3% year over year for June to 2.4% in July. This is the highest Core CPI in over 10 years. The Fed is anticipating that the Core rate will level off soon per Capital Economics, but Capital Economics forecasts that, “core inflation will continue to trend higher.”
Core CPIDESIGN: NICK DESANTIS, FORBES STAFF
The Producer Price Index, or PPI, has risen over a full percentage point over the past year from 2.0% in July 2017 to 3.3% this year. The Core PPI, without food and energy, has risen almost a full percentage point from 2.0% to 2.8%. Typically the PPI leads the CPI as businesses should eventually pass at least some of their higher costs onto consumers.
Real wages are essentially flat in the past year
As inflation increases it puts a damper on wages. While average hourly earnings have increased from $26.34 per hour to $27.05, or 2.7% over the past year, inflation at 2.9% has actually lead to real wages falling a small amount from $10.78 per hour a year ago to $10.76 in July this year.
U.S. Hourly WagesDESIGN: NICK DESANTIS, FORBES STAFF
Federal deficit is ballooning
The U.S. Treasury published its July Monthly Treasury Statement and it showed that the first 10 months of fiscal 2018’s deficit of $$684 billion has surpassed all of fiscal 2017’s deficit of $666 billion. One of the downsides of Trump’s tax cuts is its impact on the Federal deficit as it is projected to increase to $1 trillion in fiscal 2020 per the Congressional Budget Office.
U.S. Federal DeficitDESIGN: NICK DESANTIS, FORBES STAFF
Soviets had many periods of "GDP Growth" what they had few of is "Real Wage growth" which adjusts for cost of living AKA Inflation.
Soviets took until around 1970 to equal the real wages of 1913, of course all this period had a lot of periods of GDP growth, just they didn't see the improvement because of inflation.
Now the USA is looking about as bad, from 1970 - 2018 say, there was basically little or no real wage growth.
Some True some false there...
The wage numbers are skewed under Obama by numerous legislated minimum wage mandates that by right should not be included with the other free market stats because it is not a free market stat in and of itself. I do like your approach though....to be more accurate you have to account for all things in man hours...it is the only real wage unit that actually matters and that remains universal throughout changes both small and large.
JO
YOU said "The USA is stagnating economically like Commies", and I just proved you wrong. Again.
Same news-source, that says something very, very different.
Wages aren't keeping up with inflation, so real-wages have dropped, which adjust for inflation.
It's you who need to stop being so ignorant.
Trump's Economic Scorecard: Higher Inflation, Flat Wages And A Ballooning Federal Deficit
Chuck JonesContributori
MarketsI cover technology companies, worldwide economies and the stock marketinflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning
President Trump's Economic ScorecardDESIGN: NICK DESANTIS, FORBES STAFF
In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic items. While GDP hit 4.1% for the June quarter, but only 2.9% year over year, and the unemployment rate is hovering at all-time lows, inflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning .
The following reports on inflation and wages could be a couple of the reasons that many American workers are not feeling better about their financial situation. And add to those concerns about Trump’s tariffs, especially as it applies to products such as soybeans. To get an overview of economic data while Trump has been President check out “Trump’s Economic Scorecard: 18 Months Into His Presidency.”
Inflation continues to creep up
One impact from the CPI and PPI inflation reports this past week should reinforce the willingness of the Federal Reserve to raise its target interest rates in September and if inflation remains at these levels to do so again in December and in 2019.
Also, keep in mind that the inflationary impacts of Trump’s tariffs have not fully made their way into prices. As businesses costs increase a significant portion will be passed onto consumers.
For July the CPI, or Consumer Price Index, rose at a 2.9% rate which matches last months increase. This is close to double the 1.6% rate when Trump was elected and up from the 2.1% increase in December 2016, the month before he entered office.
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The Core CPI, which excludes food and energy, increased from 2.3% year over year for June to 2.4% in July. This is the highest Core CPI in over 10 years. The Fed is anticipating that the Core rate will level off soon per Capital Economics, but Capital Economics forecasts that, “core inflation will continue to trend higher.”
Core CPIDESIGN: NICK DESANTIS, FORBES STAFF
The Producer Price Index, or PPI, has risen over a full percentage point over the past year from 2.0% in July 2017 to 3.3% this year. The Core PPI, without food and energy, has risen almost a full percentage point from 2.0% to 2.8%. Typically the PPI leads the CPI as businesses should eventually pass at least some of their higher costs onto consumers.
Real wages are essentially flat in the past year
As inflation increases it puts a damper on wages. While average hourly earnings have increased from $26.34 per hour to $27.05, or 2.7% over the past year, inflation at 2.9% has actually lead to real wages falling a small amount from $10.78 per hour a year ago to $10.76 in July this year.
U.S. Hourly WagesDESIGN: NICK DESANTIS, FORBES STAFF
Federal deficit is ballooning
The U.S. Treasury published its July Monthly Treasury Statement and it showed that the first 10 months of fiscal 2018’s deficit of $$684 billion has surpassed all of fiscal 2017’s deficit of $666 billion. One of the downsides of Trump’s tax cuts is its impact on the Federal deficit as it is projected to increase to $1 trillion in fiscal 2020 per the Congressional Budget Office.
U.S. Federal DeficitDESIGN: NICK DESANTIS, FORBES STAFF
Soviets had many periods of "GDP Growth" what they had few of is "Real Wage growth" which adjusts for cost of living AKA Inflation.
Soviets took until around 1970 to equal the real wages of 1913, of course all this period had a lot of periods of GDP growth, just they didn't see the improvement because of inflation.
Now the USA is looking about as bad, from 1970 - 2018 say, there was basically little or no real wage growth.
Some True some false there...
The wage numbers are skewed under Obama by numerous legislated minimum wage mandates that by right should not be included with the other free market stats because it is not a free market stat in and of itself.
JO
Source of proof?
Did you read my OP? The government enriches the extreme wealthy with all sorts of goodies and sweet heart deal. It is the American Way.True but not so much after the Grest Recession. While the wealthy pay most of the tax, they also get most of the benefits.That is the problem. The government does very little for the middle class and poor, but they do a shit load for the extreme wealthy.Amen and Amen. The problem is NOT low wages. The problem is attitude and mind set and basic values that determine what is really important.
I have lived paycheck to paycheck but we did live. The fact is most families can manage with one car, without smart phones, without cable TV that alone costs more per month than we had to live on when we first started out. You don't have to eat out and it is possible to eat quite well on very little money if you manage properly and don't require the fancier foods.
We didn't have credit cards back then but had layaway plans at Sears and J.C. Penney so whatever we took home was paid for. What few charge accounts existed were controlled by local merchants who got paid every month or they cancelled your credit so it was hard to get into serious trouble financially. I can recall how amazing it was when we got our first gas card making going on vacation simpler. But we paid for our very infrequent motel rooms with cash or travelers checks and wrote a check for each of our monthly bills and purchases.
The government did absolutely nothing for us for day to day needs and expenses and we didn't expect it to. Many many of us started out dirt poor, but nobody stayed poor indefinitely because we expected to do what was necessary to achieve and improve our standard of living and everybody did.
What we need is one huge national attitude adjustment instead of living on the edge and then expecting the government to fix everything for us.
It is a racket the Mafia can only dream of.
The government has spent trillions of dollars on the poor and the government would not have those trillions of dollars to spend on the poor without those 'extremely wealthy.' However, the more trillions we spend on the poor, the more 'poor' we seem to have with us, and we have many more people who are now entrenched in poverty and training subsequent generations to live in poverty.
Benjamin Franklin once wisely observed after extensive travel to other lands:
“I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer.”
The Founders to a man believed the central government should not be in the business of any form of charity but rather should facilitate individual freedom and ability to take initiative as the best policy to encourage prosperity for all. The Constitution gives the government absolutely no authority to take money from those who earn it and give it to those who do not. That is how it was intended so that excess authority--dictatorship--would not be given to the central government.
I am not seeing that. The wealthy don't qualify for earned income credit, SNAP, and more often than not pay taxes on a much larger percentage of their income than those of the middle class who pay taxes. Roughly 50% of wage earners pay little or nothing in taxes. You can't tell me the wealthy get much advantage, let along most of the advantages.
