Labor/Economics

[ap215]

Consumer prices rose 0.4% in February and 3.2% from a year ago

Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.

The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday. The monthly gain was in line with expectations, but the annual rate was slightly ahead of the 3.1% forecast from the Dow Jones consensus.

https://www.cnbc.com/2024/03/12/cpi-inf ... 2024-.html

[Glennfs]

Consumer prices rose 0.4% in February and 3.2% from a year ago

Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.

The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday. The monthly gain was in line with expectations, but the annual rate was slightly ahead of the 3.1% forecast from the Dow Jones consensus.

https://www.cnbc.com/2024/03/12/cpi-inf ... 2024-.html

We got so used to very low inflation for so many decades that 3.2now seems high.
In fact while it isn't low it certainly is as bad as the press makes it out to be.
Personally I consider anything over 4pct to be high.

[Motor City]

White House announces $300 million military aid package for besieged Ukraine

The White House on Tuesday announced a $300 million military aid package for Ukraine, as Russian forces make battlefield gains and a much larger aid proposal for ammunition and armor remains stuck in Congress.

The White House's package announced Tuesday will include ammunition, anti-aircraft missiles and armor-piercing weapons, according to senior Defense officials who were not authorized to speak publicly.....

University of Michigan program recycles pacemakers to provide treatment in low-income countries

If you have a pacemaker, you know how much it’s changed your life, but many people in low and middle-income countries don’t have access to that same treatment.

The reasons are simple: pacemakers are expensive, and the technical expertise to properly place them can also be limited.

Pacemakers are usually placed under the skin with wires that run through blood vessels to the heart. They sense when a person’s heart isn’t beating correctly and send a small pulse of electricity to keep it on track.

Pacemakers last for years and often outlast their owners, which is why the University of Michigan has been accepting donated pacemakers and reconditioning them for reuse abroad.

“The mission of project ‘My Heart Your Heart’ is to assist those patients and underserved countries who cannot afford a pacemaker,” said Eric Puroll. “We are able to provide that free of charge.”.....

.....The program’s medical director says they are trying to create a blueprint for the rest of the world.

People in low and middle income countries need brand new durable pacemakers the same as people everywhere. why not just recycle some of the pentagon funds and give new ones?

[ap215]

US weekly jobless claims unexpectedly fall; labor market gradually cooling

WASHINGTON, March 21 (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting that job growth remained strong in March.

The Federal Reserve on Wednesday left interest rates unchanged. Fed Chair Jerome Powell told reporters he did not see "cracks" in the labor market, which he described as "in good shape," noting that "the extreme imbalances that we saw in the early parts of the pandemic recovery have mostly been resolved."

https://www.reuters.com/markets/us/us-w ... 024-03-21/

[ap215]

SpaceX hit with new NLRB complaint over severance agreements, dispute resolution rules

The National Labor Relations Board accused SpaceX in a new complaint of entering into unlawful severance agreements with terminated employees nationwide.

The unfair labor practices complaint comes two months after SpaceX filed a federal lawsuit challenging the legality of the NLRB’s oversight authority, and after the federal agency in a separate complaint accused the company of illegally firing eight workers who had criticized its CEO Elon Musk in an open letter.

https://www.cnbc.com/2024/03/22/elon-mu ... rance.html

[Motor City]

America's strange economy

Mega Millions $1.13 billion jackpot won by lottery player in New Jersey

Someone in New Jersey is now a billionaire!

One ticket sold for Tuesday night's Mega Millions drawing matched all six balls to win the estimated $1.13 billion jackpot, according to the Mega Millions website.

The ticket was purchased at the ShopRite Liquor on Route 66 in Neptune, New Jersey and the retailer earns a $30,000 bonus for selling the ticket.....

Using Temporary employers staffing agencies to launder child labor

Underage teen workers did 'oppressive child labor' for Tennessee parts supplier, feds say

....Yanmar Group, which owns Tuff Torq Corporation, said that "Tuff Torq did not directly hire and employ the individuals" and that the minors were provided through a "temporary workforce staffing agency," according to a statement sent to the Knoxville News Sentinel, part of the USA TODAY Network......

At least 20 Die in Rafah Strike Hours After UNSC Passes Ceasefire Resolution

At least 20 people were killed in a strike on a residential home in Rafah, Gaza, Palestinian media reported on Tuesday, March 26, hours after a United Nations Security Council passed a resolution demanding an immediate ceasefire in the region.

How many people died in Baltimore bridge collapse? What we know about 6 missing workers

....Eight workers were fixing potholes on the bridge when it collapsed, and two were rescued. Officials called off a search-and-rescue for the remaining six Tuesday evening. They are now working to recover the bodies of workers from Honduras, El Salvador, Guatemala and Mexico......

[ap215]

Key Fed inflation gauge rose 2.8% annually in February, as expected

Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.

The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago, the Commerce Department reported Friday. Both numbers matched the Dow Jones estimates.

https://www.cnbc.com/2024/03/29/pce-inf ... ected.html

[Glennfs]

Key Fed inflation gauge rose 2.8% annually in February, as expected

Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.

The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago, the Commerce Department reported Friday. Both numbers matched the Dow Jones estimates.

https://www.cnbc.com/2024/03/29/pce-inf ... ected.html

I saw that and in my opinion what are considered key gages for the economy including inflation just simply no longer apply in today's modern world.

Look at all the predictions of a recession as an example. I think they are using as outdated play book.

[gounion]

I saw that and in my opinion what are considered key gages for the economy including inflation just simply no longer apply in today's modern world.

Look at all the predictions of a recession as an example. I think they are using as outdated play book.

You just believe what Trump tells you.

[Glennfs]

You just believe what Trump tells you.

Mr I am so smart that I can read and comprehend legal documents existing of 100 pages or more.

My response was supporting the Biden administration by stating that I believe the standards are out dated.

[gounion]

Mr I am so smart that I can read and comprehend legal documents existing of 100 pages or more.

My response was supporting the Biden administration by stating that I believe the standards are out dated.

No, you're saying that the Biden economy ISN'T good like the stats say. Trump says the economy is a disaster, so to you, it must be.

[Motor City]

Gaza protesters dim the glitz and glamour of Biden's Obama-Clinton fundraiser in NYC

....Once the show got underway, Biden, Obama and Clinton were each interrupted multiple times by Gaza protesters inside the hall, laying bare the unrest within the Democratic Party that hangs over the election.

"Blood on your hands," some yelled, prompting Obama to at one point snap back. "You can’t just talk and not listen,” Obama said. "That’s what the other side does."

For months, Biden had faced repeated heckling from pro-Palestinian protesters who oppose his steadfast support for Israel in its war against Hamas. Groups of protesters frequently shadow the president outside events, holding signs that read "Genocide Joe." The scene Thursday, though, was perhaps the most audacious demonstration yet......

https://www.youtube.com/watch?v=m6wBJog0ig8

Protesters Disrupt Record $25 Million Biden Fundraiser in NYC as Thousands March Against Gaza War

[ap215]

Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%

Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market.

Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for a rise of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department’s Bureau of Labor Statistics reported Friday.

https://www.cnbc.com/2024/04/05/job-gro ... rcent.html

[Motor City]

https://www.youtube.com/watch?v=sBkh9te8Jjw

Bishop Barber Joins Tennessee State University Student Leaders to Sound the Alarm About Extremist Republican legislatures across the country that are attacking and defunding historically black colleges and universities (HBCUs)

Bishop William J. Barber, II joins Tennessee State University (TSU) student leaders and invited national faith and civil rights leaders as they host a national press conference to sound the alarm about extremist Republican legislatures across the country that are attacking and defunding historically black colleges and universities (HBCUs).

[ap215]

The Right Has a New Playbook to Crush Unions and Enshrine Corporate Power

State lawmakers seeking to dismantle unions and implement anti-worker laws have just been handed a new state-by-state roadmap by the American Legislative Exchange Council (ALEC), the corporate-funded bill mill popular with Republican legislators.

Although ALEC claims that its proffered labor reforms are designed to protect ​“worker freedom and flexibility,” its attacks on workers over the past 50 years have made it harder for them to organize, harder for local governments to support decent-paying jobs, and easier on big business.

https://inthesetimes.com/article/alec-a ... s-politics

[Motor City]

Condemn culture


https://www.youtube.com/watch?v=4dvKIOga8J0

Is Redemption a Human Right? New Book Tracks the Demise of Clemency | Amanpour and Company

While border politics and mass migration will be key issues in this year's presidential election, back in the 1980s candidates were all about getting tough on crime. Historian Reiko Hillyer traces the changes in America's prison systems throughout the 20th century in her new book, "A Wall Is Just a Wall." She joins Michel Martin to discuss.

[Glennfs]

The Right Has a New Playbook to Crush Unions and Enshrine Corporate Power

State lawmakers seeking to dismantle unions and implement anti-worker laws have just been handed a new state-by-state roadmap by the American Legislative Exchange Council (ALEC), the corporate-funded bill mill popular with Republican legislators.

Although ALEC claims that its proffered labor reforms are designed to protect ​“worker freedom and flexibility,” its attacks on workers over the past 50 years have made it harder for them to organize, harder for local governments to support decent-paying jobs, and easier on big business.

https://inthesetimes.com/article/alec-a ... s-politics

If unions were labor organizations instead of political organizations you might have a point.
But unions want to force membership and make jobs like my 2 jobs literally illegal.

[bird]

If unions were labor organizations instead of political organizations you might have a point.
But unions want to force membership and make jobs like my 2 jobs literally illegal.

Glenn, the last part of your second sentence is ridiculous. As for forcing things? Unions are forced to represent people who aren’t members.

Everything is political in nature. Lasswell said politics is who gets what, where, when, how and why. Political economy is the process by which a society organized itself.

Now, as regards jobs that disappear? That was noted by Schumpeter who called it creative destruction. The advent of multiple technological developments over time has resulted in jobs lost and jobs created. The difference now is that automation and technological change do not and cannot create the same number of jobs that the great manufacturing boom of the 1900’s to 1960’s did. Btw, creative destruction can be innovation or regulation driven. A small example is the business I am in. Adavances in protective coatings have been driven by VOC regulations. This means, in many instances, smaller contractors that cannot afford heated, plural component equipment may be forced out of business. Plural rigs are expensive.

[ap215]

US consumer inflation in March rose 3.5% from a year ago, more than expected

The US experienced a further uptick in consumer inflation in March, as reported by the US government on Wednesday. This surge in inflation dampens the likelihood of an early reduction in interest rates by the Federal Reserve. According to the Labor Department, the annual Consumer Price Index (CPI) for March climbed to 3.5 percent, marking a 0.3 percentage point increase from February. Additionally, a closely monitored inflation gauge, which excludes volatile food and energy prices, rose by 3.8 p ..

Dow futures, which were up 03% ahead of US inflation data, fell over 1% after the data was released while US 10-year bond yield spiked over 4.5%.
Want a Loan? Get cash against your Mutual Funds in 4 hour


https://economictimes.indiatimes.com/ne ... aign=cppst

[Glennfs]

US consumer inflation in March rose 3.5% from a year ago, more than expected

The US experienced a further uptick in consumer inflation in March, as reported by the US government on Wednesday. This surge in inflation dampens the likelihood of an early reduction in interest rates by the Federal Reserve. According to the Labor Department, the annual Consumer Price Index (CPI) for March climbed to 3.5 percent, marking a 0.3 percentage point increase from February. Additionally, a closely monitored inflation gauge, which excludes volatile food and energy prices, rose by 3.8 p ..

Dow futures, which were up 03% ahead of US inflation data, fell over 1% after the data was released while US 10-year bond yield spiked over 4.5%.
Want a Loan? Get cash against your Mutual Funds in 4 hour


https://economictimes.indiatimes.com/ne ... aign=cppst

With gas prices spiking it looks like we might be in for another round of inflation

[Motor City]

Wayne County public defender sues judges for alleged bias against lower-income defendants

A young public defender claims in a federal lawsuit that she was pushed out of her job at 35th District Court in Plymouth for passionately fighting on behalf of her lower-income clients.

Sundus K. Jaber filed a whistleblower lawsuit in U.S. District Court in late March, claiming she was prevented from representing indigent defendants in criminal cases in Judge James Plakas’s courtroom in retaliation for vigorously defending her clients.

Jaber, a Muslim who wears a hijab, says she was mistreated and harassed by judges and their staff at the expense of her clients.

On her first day as a public defender, Judge Ronald Lowe advised Jaber that she would be removed if she fights too much on behalf of her clients, saying she “needs to understand that 95% of the people she will represent are guilty,” according to the lawsuit.

Lowe then said, “If you contest more than 5% of cases, we will boot you out of here,” the suit alleges.

Lowe’s alleged remarks fly in the face of the 6th Amendment, which entitles criminal defendants to “effective assistance of counsel,” regardless of their income.

“The ability of a person charged in the criminal system to pay for counsel should not dictate whether they receive constitutionally-sound representation that is free from interference by the judiciary,” the lawsuit states......

[ZoWie]

With gas prices spiking it looks like we might be in for another round of inflation

Some of the "experts" who yak on TV would agree with you. I would tend to agree myself. You can't have wars going all over the Middle East without disruptions to the shipping lanes. That causes these shortages which are conducive to inflation when coupled with the standard pricing system based on whatever the traffic will bear.

Getting on top of inflation is a slow process. The US political system is uniquely unsuited to doing it. What usually happens is the president in power gets blamed for inflation that started in the former guy's presidency, then the other party gets elected and a lot of political favors get called in, so we have no real action on the underlying problems. This is very frustrating, and after a while the tendency is to just give up and let the super-rich play their games. That, in turn, ensures that the cycle continues forever.

[Glennfs]

Some of the "experts" who yak on TV would agree with you. I would tend to agree myself. You can't have wars going all over the Middle East without disruptions to the shipping lanes. That causes these shortages which are conducive to inflation when coupled with the standard pricing system based on whatever the traffic will bear.

Getting on top of inflation is a slow process. The US political system is uniquely unsuited to doing it. What usually happens is the president in power gets blamed for inflation that started in the former guy's presidency, then the other party gets elected and a lot of political favors get called in, so we have no real action on the underlying problems. This is very frustrating, and after a while the tendency is to just give up and let the super-rich play their games. That, in turn, ensures that the cycle continues forever.

You are correct. The problem is that literally about 75pct if the population do not realize that in most cases there are outside factors beyond the control of the sitting president causing the problem.
Thus round of gas increases I believe that to be the case. The last round I believe had to do with Biden policies.
Either way he is going to get the blame

[ZoWie]

Both parties make the problem worse, but the Republicans seem to do more damage more quickly, and it takes longer to clean up their messes.

The current economic problems are deep-rooted, and caused mostly by bad policy and artificial shortages due partly to class struggle and partly by failure to agree on solutions. I'd call it more of a social problem than a political one. Policy never seems to go far enough either way to make much of a difference in some pretty entrenched processes.

Bad leadership seems to be universal in California, but actually the Democrats usually try a little harder. Their major problem is that their message gets lost in their trendy rhetoric about genderfluidity and pronouns and all that.

What we need is economic justice, but what we get is cancel culture from both sides. All the negativity and fighting over buzzwords largely perpetuated by the Republican media are doing us in. What we need is for people to agree to disagree on certain subjects and work together to fix the stuff that's really doing the damage, but instead it's all squabbling and slinging glittering generalizations about the other side. It's easy to blame the media and the Internet for the breakdown in communication, but actually it's a situation where we have met the enemy and it is us.

[Glennfs]

Both parties make the problem worse, but the Republicans seem to do more damage more quickly, and it takes longer to clean up their messes.

The current economic problems are deep-rooted, and caused mostly by bad policy and artificial shortages due partly to class struggle and partly by failure to agree on solutions. I'd call it more of a social problem than a political one. Policy never seems to go far enough either way to make much of a difference in some pretty entrenched processes.

Bad leadership seems to be universal in California, but actually the Democrats usually try a little harder. Their major problem is that their message gets lost in their trendy rhetoric about genderfluidity and pronouns and all that.

What we need is economic justice, but what we get is cancel culture from both sides. All the negativity and fighting over buzzwords largely perpetuated by the Republican media are doing us in. What we need is for people to agree to disagree on certain subjects and work together to fix the stuff that's really doing the damage, but instead it's all squabbling and slinging glittering generalizations about the other side. It's easy to blame the media and the Internet for the breakdown in communication, but actually it's a situation where we have met the enemy and it is us.

The day our constitution was amended making US Senators elected instead of appointed was a sad day.

Because that was the beginning of Senator's representing their party instead of their state.
Which also lead to the career politicians we now have running the country in a manner where their political party always comes first.