President Donald Trump

[nots]

Yes, and many did.

U.S. Inflation Leaps as Food and Gas Prices Rise - The New York Times, May 13, 2011

CPI report: Biggest inflation jump in 3 years - CNN Money - Oct. 19, 2011

Consumer Confidence Survey: Inflation to Jump 200% in 2011 - Time Magazine - April 5, 2011

Leaps, jumps, what have you.....there was concern in 2011.

Lol, putting aside that leaps and skyrocketing aren’t really synonyms, I wasn’t talking about news articles. I was specifically asking TW (and you I guess now too), did you have a concern about the inflation rate under Obama? I certainly have no recollection of anyone mentioning on this board. Wonder why that is?

[Judge Jude]

"How many of those jobs are being added because folks can no longer survive with just one job, they need 2 jobs and a side hustle just to get by?"

flavor of the day Ocasio-Cortez unfortunately knows nothing about employment statistics, it appears

https://www.politifact.com/truth-o-m...l-counts-abou/

"Alexandria Ocasio-Cortez, a self-described democratic socialist and former organizer for Bernie Sanders' 2016 presidential campaign, attracted national attention after her upset primary victory over Democratic Rep. Joe Crowley in a Queens- and Bronx-based district. But critics pounced on some of her remarks during an interview on the PBS show Firing Line with Margaret Hoover.

During the interview, Ocasio-Cortez said, "Unemployment is low because everyone has two jobs. Unemployment is low because people are working 60, 70, 80 hours a week and can barely feed their family."

In our review, we found many reasons why unemployment is low, and not for the overwork that Ocasio-Cortez cited. The biggest factors include strong economic confidence and the long-running economic recovery.

The Bureau of Labor Statistics keeps track of how many people work two jobs rather than just one.

Over the past 12 months, the number of multiple job holders has ranged between 6 million and 7 million. That compares to more than 148 million Americans who are employed in a single job.

So by the official statistics, multiple job holders account for a tiny fraction of American workers.

And this percentage isn’t high by historical standards.

The percentage has moved in a pretty narrow band — 4.7 percent to 5.2 percent — during the recovery from the Great Recession. That range is actually below where it was between 1994 and the Great Recession. In fact, the percentage was at its highest (as high as 6.5 percent) during the peak of the 1990s boom.

"People are working 60, 70, 80 hours a week"

This assertion is equally dubious.

The Bureau of Labor Statistics breaks down its count of people with multiple jobs into three categories: people working one full-time job and one part-time job; people with two part-time jobs; and people working two full-time jobs.

A worker with two full-time jobs is the smallest category of the three.

When the BLS determines the unemployment rate, a person is counted as employed as long as they have at least one job. They don’t get counted twice if they have two jobs. So Ocasio-Cortez is wrong in saying multiple job holding and long hours affect the unemployment rate.

We rate the statement "Pants on Fire.'"

........................

[now, if you are mad at PolitiFact, just peruse their conclusions about Trump claims - he has more 'pants on fire' than The Towering Inferno. neither political philosophy is immune from utter nonsense. it IS true that almost all of the gains in real income over the past 20 years have gone to the top 1 percent. but that happened thru Presidents and Congresses of both parties. the problem is a real one. but O-Cs wild-ass guess to try to ding the job numbers - is just that.]

[onejayhawk]

One thing I discovered while overseas is that no one understands how hard Americans work. Brits, for example, typically put in 10 fewer days each year and rarely any overtime. I know an insurance executive who was stationed in London as a mid-level manager. He was promoted to the home office, received a 40,000 increase in pay and a two week reduction in vacation time.

J

[Mithrandir]

One thing I discovered while overseas is that no one understands how hard Americans work. Brits, for example, typically put in 10 fewer days each year and rarely any overtime. I know an insurance executive who was stationed in London as a mid-level manager. He was promoted to the home office, received a 40,000 increase in pay and a two week reduction in vacation time.

J

Americans work harder not smarter.

[The Feral Slasher]

Americans work harder not smarter.

Exactly, I just wish I could work overseas assembling an iPhone in the luxury and comfort of a foxconn facility

[The Feral Slasher]

Exactly, I just wish I could work overseas assembling an iPhone in the luxury and comfort of a foxconn facility

Or maybe a textile shop in SE Asia where they load all day

[revo]

Lol, putting aside that leaps and skyrocketing aren’t really synonyms, I wasn’t talking about news articles. I was specifically asking TW (and you I guess now too), did you have a concern about the inflation rate under Obama? I certainly have no recollection of anyone mentioning on this board. Wonder why that is?

You’re missing the point entirely, and have taken it out of context. I said inflation is skyrocketing because of his tariffs and policies against Iran. I guess Obama did a tariff once, on tires, but no one was confusing that with a global trade war. And his policy against Iran didn’t lead to them purposely stemming oil. And he didn’t strong-arm and embarrass Janet Yellin to not do her job to make him look better.

So no, no one was concerned then, because they didn’t need to be.

[onejayhawk]

There is no cause for real concern now. That said, the governors are now off the economy so the situation demands close attention.

J

[nullnor]

Inflation is great if you owe people money and Donald owes a lot of people a lot of money.

younger Russian women that like older guys with cash

interest rates were due to rise. i don't think bankers and rich people like low interest rates. for all i know they've been trying to get them raised for years. but it's really the deficit. we're just creating another bubble and recession. the feds are wise to it and raising rates faster. i am not even sure inflation is going up because of the trade wars. is it going up because of fears of a future bubble?

i can only speak for myself. i wanted to buy a house while they were still low. actually i'd buy such a dump i wouldn't need a loan, lol. but many other people still probably wanted to too. so to miss out on the housing price collapse and still getting it together and watching rates rise sucks. even though it was expected.

imo, Trump is creating another bubble and recession.

[nullnor]

when the United states has a recession, to quote George Orwell.. all else follows.

edit: all of this has inspired me to find someone online that is streaming twilight zone episodes. i bet i can find it. i haven't seen like half the episodes. that would be cool. going to bed and waking up to the twilight zone.

https://www.streamlive.to/view/44912/TwiLight-ZonE

hmmf! it's not working. oh i wanted to goto sleep and wake up to the twilight zone! lol

[chancellor]

Americans work harder not smarter.

Depends on how you define smarter. If "smarter" is defined as productivity, innovation, standard of living, income levels, and so on, then your statement is categorically and easily proven wrong. If "smarter" is defined as more free personal time, then you may have a point.

[chancellor]

You’re missing the point entirely, and have taken it out of context. I said inflation is skyrocketing because of his tariffs and policies against Iran.

Data to support? Everything I've read indicates there are two primary drivers to recent inflation - full employment and greater cash entering the market both from industrial/corporate investment and personal purchases. Here's one reference that is fairly clear, and suffice to say that Reuters is not some Trump mouthpiece:

https://www.reuters.com/article/us-usa-inflation-explainer/explainer-rising-u-s-inflation-and-what-it-means-for-markets-idUSKCN1FX32F

The Iranian oil shipping restrictions have caused prices to rise at the pump, but at a much lower level than in past major Middle East incidents. In my state, at least, prices have risen about 11% at the pump, which is significant, but nowhere near the spikes during other Middle Eastern upsets, where prices rose 30 - 50%.

[onejayhawk]

In other words, inflation is a symptom of success.

J

[Mithrandir]

Depends on how you define smarter. If "smarter" is defined as productivity, innovation, standard of living, income levels, and so on, then your statement is categorically and easily proven wrong. If "smarter" is defined as more free personal time, then you may have a point.

Your second definition. But it depends on the company one works for

[onejayhawk]

I cannot speak for the far east, but people from the middle east and Europe do not understand how many hours Americans work.

J