Mainstream Economics Thread

[steve dave]

These job numbers are going to COOK!


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wait, nevermind. we're just not going to do them anymore. lmao

https://x.com/SpencerHakimian/status/1955292675667607613

[cfbandyman]

No news is good news, right?

[steve dave]

we hire the best people don't we folks!

https://x.com/JustinWolfers/status/1955067164949447084

[Dugout DickStone]

These job numbers are going to COOK!


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wait, nevermind. we're just not going to do them anymore. lmao

https://x.com/SpencerHakimian/status/1955292675667607613

impressive bitch move from the very start.

[sonofdaxjones]

We had an economic adviser for Joe Biden who couldn't even explain money,  couldn't explain what gave it value and couldn't explain how it worked.  He had a degree in . . . music 

Now we've got #blueanon/#blueanongE throwing every little hyper nerd credentialist card they can find.  Something so normal and so onbrand its at the 7th level of cringe at this point.

Remember folks - these are the "we know if its a recession when we see it" while we're in the middle of a textbook recession . . . also the same people who gave us 4 years of "transitory" inflation.

Edit: Say it seems like monthly jobs reports are always subject to wold revisions . . . hell revisions so huge that ultimately it's shown that we didn't have any new job growth at all. Maybe we should hold off on the monthly's and go to quarterly??  #blueanon - OMG!! (commence total meltdown).

[hjfklmor]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

[Stevesie60]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

Pubs will never fund something so close to the acronym BLM.

[hjfklmor]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

Pubs will never fund something so close to the acronym BLM.

Cliven Bundy liked this post.

[steve dave]

https://x.com/SaraEisen/status/1955340888827220455

[sonofdaxjones]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

So $688 million dollars (viewers of this blog will note that accurate data on government funding is all over the map and a morass of amendments - proposed budgets - subcommittees etc. etc. - I am going off of BLS requested FFY 2026 Budget) is not enough money to get accurate reporting - we had crap reporting at $725m - but more people and more money will solve the problem?

You are saying this in the year of our Flying Spaghetti Monster 2025 - in a world where data sharing, computing power and data compilation capabilities are at a level never before seen in human history. 

Explain

Viewers of this blog will note that when it comes to IT - the government is the absolute worst and in most cases simply throwing more people and more money at the problem for government IT - only makes the problem worse, not better.

[sonofdaxjones]

https://x.com/SaraEisen/status/1955340888827220455

So consumers weren't absorbing the costs of tariffs before - this is a new thing?

Fascinating.

[star seed 7]

It looks like you're confused again dax

[sonofdaxjones]

StalkerBot - still completely overwhelmed intellectually by a "?"

[Stupid Fitz]

Tariff "revenue" numbers is going to be MAGAs conference realignment where weird fans bragged about how much money "they" are going to get from joining the SEC/Big 10.

[sonofdaxjones]

Tariff "revenue" numbers is going to be MAGAs conference realignment where weird fans bragged about how much money "they" are going to get from joining the SEC/Big 10.

I've asked this multiple times.  I need #blueanongE to step up and explain  the differences between tariffs impact on our economy and what the impact of #blueanon's desired taxation levels and closed loopholes would be on our economy (reminder to all viewers of this blog - #bluenon upper middle class and above take full advantage of those loopholes with unmitigated - ravenous zeal).

I know StupidFitz can't do it, but somebody on here surely can.

[ChiComCat]

These job numbers are going to COOK!


Sent from my iPhone using Tapatalk

wait, nevermind. we're just not going to do them anymore. lmao

https://x.com/SpencerHakimian/status/1955292675667607613

"As my first order of business in my new role, I'm cutting my responsibilities by 3/4"

[Stevesie60]

Tariff "revenue" numbers is going to be MAGAs conference realignment where weird fans bragged about how much money "they" are going to get from joining the SEC/Big 10.

I've asked this multiple times.  I need #blueanongE to step up and explain  the differences between tariffs impact on our economy and what the impact of #blueanon's desired taxation levels and closed loopholes would be on our economy (reminder to all viewers of this blog - #bluenon upper middle class and above take full advantage of those loopholes with unmitigated - ravenous zeal).

I know StupidFitz can't do it, but somebody on here surely can.

So you're saying the US has to collect government money by using tariffs because the upper middle class doesn't pay their taxes fairly?

[Dugout DickStone]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

[sonofdaxjones]

Tariff "revenue" numbers is going to be MAGAs conference realignment where weird fans bragged about how much money "they" are going to get from joining the SEC/Big 10.

I've asked this multiple times.  I need #blueanongE to step up and explain  the differences between tariffs impact on our economy and what the impact of #blueanon's desired taxation levels and closed loopholes would be on our economy (reminder to all viewers of this blog - #bluenon upper middle class and above take full advantage of those loopholes with unmitigated - ravenous zeal).

I know StupidFitz can't do it, but somebody on here surely can.

So you're saying the US has to collect government money by using tariffs because the upper middle class doesn't pay their taxes fairly?

Missed it by miles.

Where did I even remotely even imply that in my post?

[sonofdaxjones]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

What will fix the problem #slowdug?  Apparently a $728m dollar annual budget for this one little faction of the DOL wasn't enough.  So $1b a year - $2b a year - how much?

[hjfklmor]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

What will fix the problem #slowdug?  Apparently a $728m dollar annual budget for this one little faction of the DOL wasn't enough.  So $1b a year - $2b a year - how much?

For starters, they could bring back the advisory committees that DOGE disbanded. Part of their function was increasing response rates to the monthly surveys and modernizing the survey process. We've also not had "crap reporting."

I'm sure EJ Antoni will be able to navigate these waters, however.

[sonofdaxjones]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

What will fix the problem #slowdug?  Apparently a $728m dollar annual budget for this one little faction of the DOL wasn't enough.  So $1b a year - $2b a year - how much?

For starters, they could bring back the advisory committees that DOGE disbanded. Part of their function was increasing response rates to the monthly surveys and modernizing the survey process. We've also not had "crap reporting."

I'm sure EJ Antoni will be able to navigate these waters, however.

Who measured the effectiveness of this committee and their functions?  Are you implying that there's now a block on BLS staff collaborating with academia and outside sources? if so, please provide a link.

Over 2,000 full time staff dedicated to one function. 

[hjfklmor]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

What will fix the problem #slowdug?  Apparently a $728m dollar annual budget for this one little faction of the DOL wasn't enough.  So $1b a year - $2b a year - how much?

For starters, they could bring back the advisory committees that DOGE disbanded. Part of their function was increasing response rates to the monthly surveys and modernizing the survey process. We've also not had "crap reporting."

I'm sure EJ Antoni will be able to navigate these waters, however.

Who measured the effectiveness of this committee and their functions?  Are you implying that there's now a block on BLS staff collaborating with academia and outside sources? if so, please provide a link.

Over 2,000 full time staff dedicated to one function.

Are you under the impression that the monthly jobs report is the only function of the BLS?

[sonofdaxjones]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

What will fix the problem #slowdug?  Apparently a $728m dollar annual budget for this one little faction of the DOL wasn't enough.  So $1b a year - $2b a year - how much?

For starters, they could bring back the advisory committees that DOGE disbanded. Part of their function was increasing response rates to the monthly surveys and modernizing the survey process. We've also not had "crap reporting."

I'm sure EJ Antoni will be able to navigate these waters, however.

Who measured the effectiveness of this committee and their functions?  Are you implying that there's now a block on BLS staff collaborating with academia and outside sources? if so, please provide a link.

Over 2,000 full time staff dedicated to one function.

Are you under the impression that the monthly jobs report is the only function of the BLS?

No - I am sure there are numerous sub functions.

But in typical you fashion - you keep avoiding other parts of what I am saying and/or asking.  Very onbrand for you and others on here.

Only extreme hyper-partisans don't get the political implications of a election impacting jobs reports - that ultimately turn out to be massively overstated (or understated).  Only hyper-partisans continue to try and pooh pooh away the 2 if not 3 times during the Biden administrations that jobs numbers turned out  to be very very wrong.

[hjfklmor]

Monthly jobs reports are a statutory requirement. If we would like better data, and thus fewer revisions, perhaps we should restore funding to the BLS.

you are going to enrage some dummies with this kind of talk.

What will fix the problem #slowdug?  Apparently a $728m dollar annual budget for this one little faction of the DOL wasn't enough.  So $1b a year - $2b a year - how much?

For starters, they could bring back the advisory committees that DOGE disbanded. Part of their function was increasing response rates to the monthly surveys and modernizing the survey process. We've also not had "crap reporting."

I'm sure EJ Antoni will be able to navigate these waters, however.

Who measured the effectiveness of this committee and their functions?  Are you implying that there's now a block on BLS staff collaborating with academia and outside sources? if so, please provide a link.

Over 2,000 full time staff dedicated to one function.

Are you under the impression that the monthly jobs report is the only function of the BLS?

No - I am sure there are numerous sub functions.

But in typical you fashion - you keep avoiding other parts of what I am saying and/or asking.  Very onbrand for you and others on here.

Only extreme hyper-partisans don't get the political implications of a election impacting jobs reports - that ultimately turn out to be massively overstated (or understated).  Only hyper-partisans continue to try and pooh pooh away the 2 if not 3 times during the Biden administrations that jobs numbers turned out about to be very very wrong.

They are not and were not massively overstated or understated. Regardless, if that is your stance.. why would we then stop efforts to improve the jobs surveys, institute a hiring freeze, fire the experienced commissioner, and hire this Twitter moron? Seems like that would make it worse.

I don't know why I bother to interact with you. You are ignorant of complicated topics, either unknowingly or on purpose, and yet there exists no area where you don't think of yourself as a subject matter expert. rough ridin' frustrating individual. Have some self-reflection and consider that perhaps thousands of trained economists know what they are doing, if you are able.