8.30-31 Open Threads
Hola everyone from the Space Coast! 🙂 Unfortunately, the Artemis launch was postponed yesterday due to technical problems with one of the engines. That’s the First Commandment of NASA: do NOT launch if there are glitches. That’s why they have had such a great safety record when one seriously considers all the risks involved. There were hundreds of thousands of people gathered to watch the launch. No surprise there. 🙂 The exploration of Space has always excited our kind. 🙂 They will be back to see this rocket take off, and let this NASA brat tell you: that rocket is yuge! I’ve got a framed photo of my father standing with his fellow engineers/designers next to my desk. They are in front of the disassembled sections of Vanguard right before it was put together for launch. Assembled, It looks like a toothpick next to Artemis. LOL. The picture was taken at Cape Canaveral waaay back in the late 1950s. So, hope all is well and Covid-free at your casa. Our Nest is Open. 🙂
Thanks orl!
https://amp.theguardian.com/us-news/2022/aug/30/people-are-tired-of-being-ignored-while-the-rich-get-richer-bernie-sanders-on-anger-and-hope-in-the-us-and-uk
(Continued)
Thanks obf for starting us off. I missed y’all yesterday.
From The Lever
https://www.levernews.com/heres-how-to-end-dark-money/
Hey Aint…. We’re a small site, but we Progressive loudmouths are around. 🙂
No surprise. Is she better than that crooked RW yahoo or not?
Since the GOPPER running for governor is being compared to DeSantis, I’d say yeah, marginally. Is she as good as we could get? LOL. But this is the State of Wall Street, it’s just a New York state of mind.
And yet, the WH chooses to spend money on this:
Biden to Ask Congress to Approve $1.1 Billion Arms Sale for Taiwan
“Since Washington severed diplomatic relations with Taipei in 1979, the US has continued to sell weapons to the island.”
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Typical American craporate stupid nonsense. Oh no, we can’t address climate chaos, water shortages, no safe drinking water in our cities. BUT, there is always PLENTY of coin for BS like Taiwan and Ukraine.
Or, sadly, massively expensive rockets. As much as I love scientific progress, there is so much still we have to do here at home. Although, a reasonable tax structure would allow us to do it all. Just look at what this country accomplished in the 50s and 60s, when we had one.
Candidates backed by Warren, Sanders found primary success
You gotta hand it to the craporate for-profit media. They label Liz as “Progressive.” Of course, their big $$love$$ is the orange maggot called, tRump. 🙁
Mr. Benny calls Drumpf “Orange-man bad.”
I have several colorful metaphors for Cult-45 which is mild.
That’s good news especially considering the source.
I managed to vist the KSC twice, once when i did the right of passage (spring break) as an 18 year old- yea i was the weird one of the bunch BUT the rental car was in my name and went alone for the tour. The rest of the group hung out at the beach. ( Their loss) 🙂 The next time was with the family and i had the same excitment as the last time and had a great time again. Funny story from my solo trip as i was trying to navagate the map alone to get thier i made a wrong turn ended up at a security gate where two well armed gurads greeted me. I explained i made a wrong turn and was looking for the tour area. They were very polite /helpful and got me on course as it were.
I have to hand it to the Feds and the military (for once). The area around KSC is the Merritt Island National Seashore. It is federally protected, and the military does not mess around! It is also guarded by environmentalists as it is one of the loveliest, pristine parts of this polluted state.
100% concour, not a lot of changes to the environment in that area between my two visits
I’ll adimit i dont understand this economic policy to many contradiction’s by the Fed that dont make any sense in my opinion.
From the crooks at the Fed Controled by the rich.
Assuming there’s no change in the labor force participation rate, every 1 percentage point increase in the unemployment rate translates to a loss of around 1.6 million jobs, said Mark Zandi, chief economist at Moody’s Analytics. So if the United States suffers a typical recession, where joblessness hovers at around 6%, that would amount to about 5 million jobs, he said.
Even if the Fed were to revise its inflation target from 2% to 3%, it would still need to slow the economy to the point where roughly 1.7 million jobs are lost, according to an analysis from RSM released Monday. That would translate to the unemployment rate rising from today’s 3.5% to 4.6%.
“That is about as close as one may get to what can charitably be called a soft landing,” RSM economists Joe Brusuelas and Tuan Nguyen wrote in the report. However, “while a soft landing would be an optimal outcome, resetting the inflation target from the flexible target of 2% it announced two years ago would hurt the Fed’s credibility,” they noted.
If the Fed continues to try to get inflation all the way back down to 2%, RSM said the costs would be “much higher,” causing the loss of up to 5.3 million jobs and lifting the unemployment rate to 6.7%.
For context, prior to the Great Recession, the unemployment rate was already at around 5% — then shot to 10% as economic conditions worsened.
However, the current US labor market has been anything but typical. The unemployment rate remains near a record low, job openings are near record highs, and monthly job gains continue to be robust. The tight labor market conditions have resulted in higher wages as employers compete for talent (although those gains haven’t kept pace with inflation).
“We need the slowdown in job growth and job creation pretty quickly to take the steam out of wage growth and quell inflationary pressure,” Zandi said.
That would mean employment growth would have to stall out from a massive 528,000 jobs added in July to essentially below 100,000 per month, he said.
“For the Fed, the outlook is better if we saw job growth slowing,” Zandi said. “It’s ironic, it feels a little odd to say that — but that’s the reality when the economy is at full employment or even beyond full employment.”
A slew of employment reports are set for release this week and should provide some sense as to how these trajectories are trending.
How to take advantage of rising interest rates
How to take advantage of rising interest rates
Typically, inflation doesn’t come down without some level of higher unemployment, said Steven Ricchiuto, US chief economist for Mizuho Securities USA. “Now a lot of people at the Fed are hoping, and so far the data is working in their favor, that job openings come down and the number of people employed doesn’t really come down.”
The best-case scenario for the Fed would be a situation where people coming into the labor market have a harder time finding work versus mass layoffs occurring, he said.
“[The Federal Reserve members] are in a difficult balancing act,” he said. “They need to ease up the labor market to take some of the pressures off. By the same token, they don’t want to cause undue necessary pain in terms of the overall economy.”
And at this point, inflation is inflicting plenty of pain of its own, Ricchiuto added. Powell has repeatedly stressed that doing too little to address inflation would be worse than doing too much.
“So the real question is, ‘Is the medicine worse than the disease?'” Ricchiuto asked. “If the disease is left unchecked, the disease is very deadly. So if you wind up going through a cure that gives you some shorter-term pain for some longer-term benefit, is it worth it? The answer is, ‘yes.'”
Whether that pain involves a tighter labor market, layoffs, higher mortgage rates, greater cost of capital or a constrictive business climate, one thing appears likely: The effects will be widespread, Ricchiuto said.
“There isn’t going to be any particular area that necessarily is saved in the environment,” he said. “Different areas are going to feel the pain more significantly than other areas, there’s
no doubt about that.
So the Fed wants to put people out of work, force them to unemployment and then the R’s then their usual BS about picking themselves up by the bootstraps crap. Then the R’s say unemployment has to be cut and people need to get a job. We need people not to work to lower inflation but we have over 11 million jobs available. But we need lay people off so they can support themselves.
After reading this my head feels like “Norman” from the Harry Mudd episode when Norman melts down from the overload of illogic by Kirk
First of all, why is Byedone keeping Powell? He was put in there by the orange maggot. Sounds like more FRightwing BS handed down since Raygun: cut inflation for the rich by ripping off the working/middle class.
Neolibs at work.
Probably using it as a write off
Rubio-Demings is tightening but her commercials stink!
Brought to you by Friends of the Lincoln Project. (heh)
That tells me if Beto gets turnout he’s got a shot at this. I find it curious that many R’s are all of a sudden scrubbing and references to Cult-45 and abortions.
Wonder why?
Age life expectancy for Native Americans dropped from 69 to 65. All due to the pandemic
I would boil it down to Cult-45s in action and the anti vax crowd. Both had full media coverage of their BS 24-7. Thier sound medical advice killed thousands.
Veggies are much higher too.