Economic News

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lawtig02 said:
Is the firing of the BLS commissioner because the jobs report is not what Trump was looking for the most embarrassing moment in the history of our presidential politics, at least since 1980 or so?

I get that Trump already owns number 1 through 265 on that list, but I'm seriously struggling to find a moment worse than this.

Maybe when he gave preferential treatment to the child sex trafficker who facilitated his own minor-fucking, which also happened today?

I'm happy to be convinced otherwise, and I'll agree that January 6 is always the standard. But is it possible he's trying to push the insurrection down the list?
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It shows how much of a far-right, qAnon-type of conspiracy theorist he truly is. He has lost his fucking mind.
 
ZenMode said:
It shows how much of a far-right, qAnon-type of conspiracy theorist he truly is. He has lost his fucking mind.
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He's not a far-right qanon-type conspiracy theorist. Far-right qanon-type conspiracy theorists have guiding principles, even if they're whack. He just says whatever makes him look good at that particular point in time with no regard to its accuracy or truthfulness.
 
Centerpiece said:
Is it too late to take everything out and put cash under my mattress?
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How much can you make busking across Europe today?

Have you thought about writing a book about your busking years?

Bland Simpson, now retired from directing UNC’s Creative Writing Program, still writing and performing, likely would love to see such a book.

He lives <1/4 mile down the road.
 
superrific said:
Maybe I'm a bit pessimistic, but you know how we say, "the president doesn't affect the economy that much"? Yeah, that was back before Smoot Hawley level taxes, pissing off our trade partners to where we are getting boycotted, deporting hundreds of thousands of productive workers, downsizing the government by a few hundred thousand, reversing investment guarantees, killing off growth industries like solar and wind.
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The courts may rein in Trump's tariff power -- although likely not before June 2026. But Trump has a tendency to reverse course when things look bad, so I'll rely on TACO to keep the average GDP at 2.0% between 2025 and 2029.
 
Calheel said:
The courts may rein in Trump's tariff power -- although likely not before June 2026. But Trump has a tendency to reverse course when things look bad, so I'll rely on TACO to keep the average GDP at 2.0% between 2025 and 2029.
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In the best sense, “Reversing course” here would mean reverting back to the trade agreements in place before Trump took office.

We know Trump won’t do that.

At best, he’ll lower some tariffs, which will still negatively impact the economy and trade.
 
Had labor force participation remained constant since April, that 4.9% unemployment rate would’ve grabbed some headlines. Of note, the unemployment rate comes from a different survey than the +/- monthly jobs created/lost number.
 
I saw where part of the reason for job report revisions is additional information or reports that come from other government agencies. Just wondering if all the DOGE cuts and chaos could have had any affects?
 
BlueSmoke said:
I saw where part of the reason for job report revisions is additional information or reports that come from other government agencies. Just wondering if all the DOGE cuts and chaos could have had any affects?
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Small impact. Over the past 6 months, the federal workforce has declined by 84,000. For the month of July alone, the number was negative 12k.
 
1moretimeagain said:
Small impact. Over the past 6 months, the federal workforce has declined by 84,000. For the month of July alone, the number was negative 12k.
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Delayed impact. Folks who took buyouts (provided they’re not retiring) will be added to unemployment rolls in the coming months.

Same with nonprofit and contract employees (like me) who’ve been laid off over the last 3-4 months. We won’t hit the unemployment rolls until August and onward, due to severance packages that’ll expire soon.
 
Zoo_View said:
How much can you make busking across Europe today?

Have you thought about writing a book about your busking years?

Bland Simpson, now retired from directing UNC’s Creative Writing Program, still writing and performing, likely would love to see such a book.

He lives <1/4 mile down the road.
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I’ve thought about writing something down… memoirs if you will. I’m lazy.
I kept a bit of a journal my first 10 months (that was a special year, being my first abroad) but I misplaced that somewhere along the way.

I’ve often thought about how I wish I could find that, and how that might inspire me to start a book.

“How much can you make busking across Europe today?”
That’s a good question. I was last on tour with a jazz band (quartet) in Germany for a month in 2017. Just for kicks and grins I took them out in the street in a couple of places (Stuttgart, Altenburg, Wernigerode and Rothenburg) to do some old school busking. We did ok,but we didn’t work it too much, as we had proper gigs in the evenings and didn’t want to blow ourselves out. We did it for fun, and so those guys could get a taste of street life. It was fun for me and brought back memories. Of course we were busking for Euros at that time.

I’ve been back to Europe several times (most recently 2013, 2016, 2017 and 2019) and each time I’d make note of the various buskers I’d see… speak with them, talk shop. I’m sure they’re doing ok, if they’re doing it right and working hard at it.

Busking (and getting well paid) is an art form in and of itself - aside from the actual art form of your craft. (Music, juggling, sidewalk art, magic, mimes, clowns, etc.) the performance itself is one thing, but actually getting a crowd around you and then getting them to reach into their pockets and put ducats in your hat/tip bucket/guitar case/etc. is an art form all its own.

Back in the 1980’s I was busking for the prevelant currency of the various countries. French Francs, English Pounds, Dutch Guilders, German Marks, Italian Lire… and the king of them all: The Swiss Franc.

Your overall monetary success depended on how good you were and how efficient you were with your busking technique (see above re: getting a crowd around you, getting their money out of their pockets). You needed to get that going, and get it done in 20-30 minute sets or what we called a “pitch”. If you’re working hard, you’ll set about 5 to 8 “pitches” per day or evening. It can be long, hard and tiring work. A lot of walking, traveling, hauling around your gear. (I played guitar and double bass). You can imagine traipsing through the cobblestone streets of old world Europe with a doghouse bass on your shoulder, loading in and out of vans, buses, trains, trams, subways, etc.

In 1989, on a sunny Saturday in Switzerland (Basel) I was working with a black dude from Boston, Larry. Just a duo (often we would play as a trio or quartet) but that day it was just a duo. Me on bass, Larry on acoustic guitar. We both sang. We were doing R&B, Jazz, Soul, Blues… some of everything. We worked hard. Played about 7 or 8 pitches throughout the day and night. Took a hotel for the evening, got separate rooms as we had made some good coin that day and treated ourselves.

I crashed out pretty hard. The next day I walked in to Larrys hotel room, but could barely get inside. Larry couldn’t sleep that night and instead stayed up and counted all of those coins - a gazillion of them. He had all the money laid out in stacks of 10 Swiss franc piles. Rows and rows all lined up like tin soldiers. The Swiss coins were in denominations: 10 and 20 centimes, 1/2 franc, 1 franc, 2 franc and 5 franc coins. The 5 franc coin was worth $3.50 at the time.

Larry counted it all out and we had made over 1800 Swiss that day. 900 each, which amounted to about $600 to $700 each. All in coins.

That was a good day, and typical for a good act that worked hard and knew how to busk properly. Most days weren’t that good, but you could make a living doing it.

The problem with some of the buskers is they don’t work it properly. They’re dirty, sitting down (as opposed to standing up to play), strumming a guitar playing and singing (badly) Bob Dylan songs. They don’t get an “edge” (that’s busker lingo for getting a crowd, an audience). They play all day for passersby getting the occasional coin tossed in their guitar case. They won’t starve, but they won’t make $700 in a day either.

I could write a book I suppose. But I’m too lazy
 
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