Problem with globalisation is exploitation of labor by the Captains of Industry.
A few years go, I read somewhere that the cost of a $100 Nike shoe made in China was largely advertisement, middlemen cuts, corporate profit. The typical labor content was less than $2.5 and material cost under $12. Now, with rising wages in China, Nike is making the shoes in Vietnam. Next is made in Africa.
Meanwhile, the good jobs are being filled by hundreds of thousands of H-1A/B/C/D/... workers. In Google and Facebook, they are even giving internship to foreign University students in stead of our own. That's why those bitter middle class ex-steel/auto/shoe/apparel workers are voting for Trump and OWS younger folks without STEM degrees are rallying for Sanders.
Can't blame Barrack in his final months in office when Congress obstructionists continue to do nothing on infrastructure upgrades and repairs:
ADP private jobs still good:
June ADP Jobs Report: +172K vs. +150K consensus, 173K prior.
Jobless claim remains at historic low, lowest since Nixon years:
Initial Jobless Claims: -16K to 254K vs. 269K consensus, 270K prior (revised).
Consumer comfort index hovers around its 2016 average
Bloomberg Consumer Comfort Index 43.9 vs. 44.2 last week.
There is a record gap of 14.1 points between Democrats (52) and Republicans (37.9).
Chicago PMI hits highest level since January 2015
June Chicago PMI: 56.8 vs. 50.5 consensus, 49.3 in May.
I was too young to know anything first hand on JFK:
Alluding to Trump, Obama criticized the candidate who "has never shown any regard for workers, has never fought on behalf of social-justice issues or making sure that poor kids are getting a decent shot at life, have healthcare."
Obama also accused Trump of working against "economic opportunity for workers and ordinary people."
"They don't suddenly become a populist because they say something controversial in order to win votes," Obama said. "That's not the measure of populism. That's nativism. Or xenophobia. Or worse. Or it's just cynicism."
Obama praised Sen. Bernie Sanders of Vermont, who challenged Hillary Clinton for the Democratic presidential nomination, for dedicating his career to fighting for people. Obama said Sanders was an example of someone who "genuinely deserves" to be called a populist.
"There are people like Bernie Sanders who I think genuinely deserve the title," Obama said. "Because he has been in the vineyards fighting on behalf of these issues."
Looks a lot like ACA and could have been an acceptable ACA law in 2009:
But Ryan's proposal would keep some popular aspects of the law, including not allowing people with pre-existing conditions to be denied coverage and permitting children to stay on their parents' coverage until age 26.
The Obama administration says some 20 million Americans have become insured as a result of the Affordable Care Act.
The Ryan plan recycles long-held Republican proposals like allowing consumers to buy health insurance across state lines, expanding the use of health savings accounts and giving states block grants to run the Medicaid program for the poor.
For people who do not get insurance through their jobs, the Republican plan would establish a refundable tax credit. Obamacare, by contrast, provides subsidies to some lower-income people to buy insurance if they do not qualify for Medicaid.
The Republican proposal would gradually increase the Medicare eligibility age, which currently is 65, to match that of the Social Security pension plan, which is 67 for people born in 1960 or later.
Like Obamacare's so-called Cadillac tax on expensive healthcare plans offered by employers, the Republican proposal would cap the tax deductibility of employer-based plans.
Below 300K again, lowest in my working lifetime.
Initial Jobless Claims: -4K to 264K vs. 270K consensus, 268K (revised) prior.
Continuing Claims 2.095M vs. 2.17M prior.
THE EMPLOYMENT SITUATION -- JUNE 2016
Total nonfarm payroll employment increased by 287,000 in June, and the unemployment
rate rose to 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job
growth occurred in leisure and hospitality, health care and social assistance, and
financial activities. Employment also increased in information, mostly reflecting
the return of workers from a strike.
Household Survey Data
The unemployment rate increased by 0.2 percentage point to 4.9 percent in June, and
the number of unemployed persons increased by 347,000 to 7.8 million. These increases
largely offset declines in May and brought both measures back in line with levels
that had prevailed from August 2015 to April. (See table A-1.)
Among the major worker groups, the unemployment rates for adult women (4.5 percent)
and Whites (4.4 percent) rose in June. The rates for adult men (4.5 percent),
teenagers (16.0 percent), Blacks (8.6 percent), Asians (3.5 percent), and Hispanics
(5.8 percent) showed little or no change. (See tables A-1, A-2, and A-3.)
Here is the bottom line. We know Billary is one crooked enterpriser and Trump is a one trick real estate developer.
Like hiring a mechanics to overhaul the engine of the old Mercedes W110, I know Billary is going to charge me 2X the going rate and skim more with unneeded jobs, but Trump will have a few bolts and nuts left over after the job. Whom should I employ for the job?
Why not, they blamed Ebola and the Housing crash on Barry then:
Europe's Stoxx 50 (NYSEARCA:FEZ) is down 9%, led by a 12% plunge in Italy (NYSEARCA:EWI) and a 10% decline in Spain (NYSEARCA:EWP). Germany (NYSEARCA:EWG) is off 7%, and France (NYSEARCA:EWQ) 8.7%. The FTSE (NYSEARCA:EWU) is off only 4.5%.
S&P 500 (NYSEARCA:SPY) futures are down 3.8% and Dow (NYSEARCA:DIA) futures 3%.
A real black swan in May:
The change in total nonfarm payroll employment for April was revised from +123,000
to +144,000, and the change for May was revised from +38,000 to +11,000. With these
revisions, employment gains in April and May combined were 6,000 less, on net, than
previously reported. Over the past 3 months, job gains have averaged 147,000 per month.
Even Alfred E. Neuman is staying away from the loony camp of Trumpers. And he is wise to stay away from Billary as well.
Whether it's inflation, the cost of living in the Bay Area or simply the love of basketball, a fan thought it was worth $58,000 to sit courtside for Game 7 Monday night to see the Golden State Warriors host the Oklahoma City Thunder.
ESPN reported that one fan paid $29,000 each for a pair of floor seats, and that available tickets were sold out within minutes of putting them up for sale.
Tickets priced from $230 to $2,150 went on sale Sunday night and were quickly snapped up. The $29,000 paid for the two floor seats were sold on the Warriors' resale site, run by Ticketmaster.
According to a spokesman for StubHub, its average sold ticket for the game was $824, with the cheapest seat going for $359.
We had the same dialogue then and now:
On the other hand, you can't argue that women will never be equal to Limpball until they can walk down the street with a bald head and a beer gut, and still think they are sexy.
As a Kalifornia voter, it makes no difference if I check any box on the ballot. Sadly, Billary is going to win by a landslide. She won in 2008 as well/
Some angry bad cops as some angry bad XYZ in other professions.
They need to stop protecting them behind "fear for my life!" when a teenager refused to lie down and talk back jay walking.
Hicks are shocked ... they obviously had no children in College. (Co-ed dorms is nothing ... wait till they are off campus.)
Colleges in the United States started having co-ed residence halls back in the 1970s, and today, about 90% of all schools have at least one co-ed dorm building.
Also, though most shared dorm rooms are still single sex, more than 150 colleges, including Brown University, Stanford University, The University of Pennsylvania, Oberlin College, Clark University, and the California Institute of Technology, now allow some or all students to share a room with anyone they choose—and we mean anyone. These co-ed dorm rooms are typically called “gender-neutral housing.”
I might have to hold my nose and vote for Billary whom I dislike comes November.
BTW, our current government is not giving anything to China. You must have heard of the steel tariffs imposed on them of late right? The problem is our companies had been giving their business to Asian companies, including HP since Kissinger opened up China since the 70's. As long as Congress and the courts refuse to reform election financing laws, the multinationals and special interest pacs will continue to offshore our jobs to Asians and soon to Africans. Trump is saying nothing meaningful on this, nor Billary.