November 15, 2019

Money

"Even if the economy is on a roll, many Americans aren’t feeling the benefit... In fact, when adjusted for cost of living increases, real wages actually declined 1.3% since the end of 2017, PayScale found."

"At heart, philanthrocapitalism offered not a new science of development, but an old-fashioned moral tale – one in which a hero, who would reveal himself by some magnificent achievement, would come along to save us from some peril."

"Two leading experts on the “gig economy” now say their estimates of its impact were too high, skewed by spotty data and the recession of a decade ago."

"Right now, countless politicians, scholars, activists, and writers on the right and left are waging a battle for the hearts and minds of American millennials."

"It’s long been said that when the United States sneezes, the rest of the world catches a cold. Well, it’s been a long time since China has sneezed..."

"If people become more cautious about their spending, that could weigh heavily on the economy and stock market, says Mark Howard, senior multi-asset specialist at BNP Paribas."

"Ocasio-Cortez and her allies hope to [subvert] the marketplace, which is one of the most morally sound mechanisms humanity has ever devised."

"December was wretched for stocks, but it's over. As I detailed last week , stocks always bounce after extreme nasty stretches. And they do so in a near-perfect V-shaped pattern, it's merely a question of when."

"“While dollar stores sometimes fill a need in cash-strapped communities, growing evidence suggests these stores are not merely a byproduct of economic distress,” the authors of the brief write. “They’re a cause of it.”"

"Microtargeting is a remarkable thing. Even casual podcast listeners, particularly those between the ages of twenty-five and forty-five, can recite with minimal prompting the key design features of a CasperTM mattress."

There may still be brick & mortar stores in the year 2040, but they'll be so decked out with dystopian technologies that you wouldn't recognize them.

"There are so many tweets and so much noisy commentary that one can lose sight of what the real economy is doing. It’s time to hit the mute button..."

"Nervous investors want to know what moves they should be making, and talking heads on these networks are quick to offer a variety of remedies, generally delivered with a great deal of conviction."

"We have all heard the scary stories. Those poor university students have been forced to take on huge amounts of debt. Except for one thing: No one forced anyone to do anything."

"By chipping away at your money anxieties and coming up with small, reachable goals, you can build up your financial morale (even if you’re in a deficit now) and start your next year off on the right foot."

"America is not the level playing field that places such as Forbes pretend it is, and Jenner illustrates perfectly that, while your odds of going from rich to filthy rich are still pretty good, your odds of going from rags to riches have never been."

"Despite the Fed doing what had been expected, which was boosting interest rates for the fourth time this year and cutting its 2019 forecast to two hikes from three, the S&P 500 went from being up as much as 1.54 percent to down as much 2.25 percent"

"A slowing economy is not a recession. And a recession is not a depression. These are all things Democrats and NeverEverTrumpers everywhere should keep in mind as they envision a nasty economic downturn driving President Trump from the White House."

"As internet-connected devices and appliances accumulate, one academic foresees “the monetization of every move you make.”"

"For more than a decade, ultrarich people from the former Soviet Union, China and the Middle East have turned to London mansions, New York high-rises, and chic properties in Vancouver, Miami and Paris to store their cash."

"A decade after Bernard Madoff was arrested for running the world’s biggest Ponzi scheme, the bitter fight to recoup investors’ lost billions has astounded experts and victims alike."

"The American dream is about the opportunity to earn happiness—and the government has a responsibility to facilitate that."

"The U.S. economy is growing at the fastest pace in five years... So why are Wall Street and some economists suddenly worried about a recession?"

"The Department of Homeland Security wants to use credit scores to determine immigration cases. That sets a dangerous precedent."

"We in the media have a problem. Actually, it's a big problem for all of us. We have become addicted to the notion that, except for the top 1% or the top 10%, the incomes of most Americans have stagnated for decades."

"T...the short story of what happened over the last 73 years is simple: Things were very uncertain, then they were very good, then pretty bad, then really good, then really bad, and now here we are. "

"Have the scars of the housing bust turned us away from the American dream of homeownership? Survey data suggest otherwise.... We simply can’t afford to pursue that dream right now.'

"The numbers suggest that the Great Recession is finally behind us. But some people aren’t feeling it, especially if they happen to be in the middle class."

"Though making the choice to move can be difficult emotionally, it is extremely good for economic growth. Productive people make productive economies. Unfortunately for the US economy, people don’t move they like they used to."

"Shopping in a physical store is soul-sucking... Nike’s new flagship store in New York City aims to change all that by making shopping in a physical store as convenient as shopping online."

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