Economic News

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nycfan said:


“… The department said the Biden administration illegally created Natcast, and as a result the agreement granting the organization up to $7.4 billion in taxpayer money is invalid.

Natcast was an "effort to skirt clear legal restrictions prohibiting government agencies from establishing corporations," the Commerce Department said on Monday in a statement, and said that the Biden administration "stacked Natcast with former Biden officials."

… Last week, Natcast said it was aligned closely with the priorities of the White House, saying that it was "a linchpin to realizing a more prosperous, competitive, and secure leadership position for America."

In January the Biden administration announced plans to build a research and development facility in Tempe, Arizona, expected to open by 2028 while another research center opened in Albany, New York, in July…”
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More government overrreach and slide towards National Socialism.
 
The president had been pressing for Cook’s resignation since last week after a letter sent by Federal Housing Finance Agency head Bill Pulte urged Attorney General Pam Bondi to investigate Cook over this pair of mortgages.

Pulte wrote in a letter dated Aug. 15 that Cook "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute."

That charge has a familiar ring to it. Where have I heard that before ?

Oh wait...That's what our president actually did and was found liable in a civil trial.
 
heelinhell said:
The president had been pressing for Cook’s resignation since last week after a letter sent by Federal Housing Finance Agency head Bill Pulte urged Attorney General Pam Bondi to investigate Cook over this pair of mortgages.

Pulte wrote in a letter dated Aug. 15 that Cook "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute."

That charge has a familiar ring to it. Where have I heard that before ?

Oh wait...That's what our president actually did and was found liable in a civil trial.
Click to expand...
If true sounds just like TRUMP
 
Well, at least we have one patriotic American willing to oppose this march to autocracy .

If only the Democratic Party and the media would follow her lead...

www.rawstory.com

'I will not resign': Federal Reserve governor drops stunning response to Trump firing her

Federal Reserve Governor Lisa Cook clapped back at President Donald Trump late Monday after the president announced on social media that he was terminating her “effective immediately,” with Cook declaring she would continue to serve out her 14-year term regardless of Trump’s efforts to oust...
www.rawstory.com www.rawstory.com
 
IMG_9158.jpeg

🎁 —> https://www.wsj.com/economy/jobs/ai...4?st=bhaEf1&reflink=desktopwebshare_permalink

IMG_9159.jpeg

“…Using records from paycheck processor ADP, the economists were able to get a granular view of how generative AI has affected the labor market. The data includes detailed information on workers’ ages and occupations, making it far more comprehensive than the survey of households the Labor Department uses for its monthly employment report.

The Stanford economists first looked at areas where AI can automate many of the tasks workers perform, and therefore potentially replace them. Those include jobs such as software developers, receptionists, translators and customer service representatives.

Their finding: Overall employment in those categories has softened since late 2022 relative to other occupations, with the weakness concentrated among younger workers.

“After late 2022 and early 2023 you start seeing that their employment has really gone in a different direction than other workers,” Brynjolfsson said.

Among software developers aged 22 to 25, for example, the head count was nearly 20% lower this July versus its late 2022 peak. These are daunting obstacles for the large number of students earning bachelor’s degrees in computer science in recent years.…”
 
nycfan said:
IMG_9158.jpeg

🎁 —> https://www.wsj.com/economy/jobs/ai...4?st=bhaEf1&reflink=desktopwebshare_permalink

IMG_9159.jpeg

“…Using records from paycheck processor ADP, the economists were able to get a granular view of how generative AI has affected the labor market. The data includes detailed information on workers’ ages and occupations, making it far more comprehensive than the survey of households the Labor Department uses for its monthly employment report.

The Stanford economists first looked at areas where AI can automate many of the tasks workers perform, and therefore potentially replace them. Those include jobs such as software developers, receptionists, translators and customer service representatives.

Their finding: Overall employment in those categories has softened since late 2022 relative to other occupations, with the weakness concentrated among younger workers.

“After late 2022 and early 2023 you start seeing that their employment has really gone in a different direction than other workers,” Brynjolfsson said.

Among software developers aged 22 to 25, for example, the head count was nearly 20% lower this July versus its late 2022 peak. These are daunting obstacles for the large number of students earning bachelor’s degrees in computer science in recent years.…”
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But, what about the demographic crisis! JD Vance says we need more white babies!
 
heelinhell said:
The president had been pressing for Cook’s resignation since last week after a letter sent by Federal Housing Finance Agency head Bill Pulte urged Attorney General Pam Bondi to investigate Cook over this pair of mortgages.

Pulte wrote in a letter dated Aug. 15 that Cook "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute."

That charge has a familiar ring to it. Where have I heard that before ?

Oh wait...That's what our president actually did and was found liable in a civil trial.
Click to expand...
I've been commenting on as many of Pulte's twitter posts that I can about this to point out that Ken Paxton (and tagging him) has 3 primary residences, 2 of which are rented out. Sadly Pulte doesnt actually care about fraud. I also may or may not have set up my email to email Pulte's "fraud tips line" with the same message and the NY Times article about it from last month
 
Healing said:
Argentina, here we come!!!!!!

Also, this sort of economic self immolation is a huge opportunity for the billionaire class. HUGE. When shit gets particularly rotten for the poor folks, working class, and middle class, the wealth concentrates evermore.

This admin is a bunch of racist and misogynistic fascists, but billionaires are riding the wave of destruction under the expectation of near incalculable financial power.
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the DOW is like meh, who cares about inflation and cooked books....
 
Healing said:
Argentina, here we come!!!!!!

Also, this sort of economic self immolation is a huge opportunity for the billionaire class. HUGE. When shit gets particularly rotten for the poor folks, working class, and middle class, the wealth concentrates evermore.

This admin is a bunch of racist and misogynistic fascists, but billionaires are riding the wave of destruction under the expectation of near incalculable financial power.
Click to expand...
There's a reason Trump has bought over $100M in bonds since January
 
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