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Thread: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    Wage deflation charts of the day | Felix Salmon



    Oh well, too bad for your "point" about no wage declines......that is unless you ignore inflation.....and time stands still.
    I asked for a primary source. And the only reason I ask because I can't find where this data is myself, but until I gather it, I guess I'll take your word for it.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Kushinator View Post
    The big mac index is good for determining what cities have high costs of living. Far too myopic to be a quality inflation indicator (the implicit price deflator is my default metric).
    The Big Mac Index uses some of the methodology the original CPI (as original as 1980) uses. It's also used on a PPP by country, not just by city. Since the 80's it's been in perfect line with the CPI, until the 2000's. Either something is wrong at McDonald's or something is wrong with the CPI.
    Last edited by AmazonTania; 07-29-13 at 06:24 PM.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Kushinator View Post
    No, wages have not kept up with productivity! Firms are more profitable because the reliance on capital has taken precedence. Hence, the balance between the return on capital/labor has been shifted.
    Productivity is measured in monetary terms. It's really not a good indicator of how productive the nation really is.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    The Big Mac Index uses some of the mythology the original CPI (as original as 1980) uses. It's also used on a PPP by country, not just by city. Since the 80's it's been in perfect line with the CPI, until the 2000's. Either something is wrong at McDonald's or something is wrong with the CPI.
    It is too myopic of a metric. Emerging markets will continue to provide the excess demand necessary to push prices upward. In ten years, China will possess the largest middle class in the world. They are going to want their share of gasoline, hamburgers, and pork bellies!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    Productivity is measured in monetary terms. It's really not a good indicator of how productive the nation really is.
    Nope! Productivity is measured in output per hour worked. A particularly good indicator of how efficient a particular nation is.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Kushinator View Post
    It is too myopic of a metric. Emerging markets will continue to provide the excess demand necessary to push prices upward. In ten years, China will possess the largest middle class in the world. They are going to want their share of gasoline, hamburgers, and pork bellies!
    I don't think it's nearsighted at all. It's not completely in line with the CPI, then again, it's not suppose to be.

    Could have sworn China already had the largest middle class in the world. The consumer base in China is growing. It already has the largest mobile phone market, projected to have the largest luxury car market and largest oil consumption in 4 years. China already has the demand, all that is needed is the currency. Sooner or later the will stop debasing their currency and pull America's phony economy from right under it. Until then, I'm buying Chinese Yuan.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    That's nice and all, but that really has nothing to do with the wages employers pay their employees. Your issue is with the value of the wages, not the nominal amount.

    Take it up with the BLS or the Fed.
    You can keep playing the game of ignoring inflation and trying to play a time lord......in fact you have to to make your point "stand".....but for the rest of us, we live in the real world, not your fantasy construct.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Kushinator View Post
    Nope! Productivity is measured in output per hour worked. A particularly good indicator of how efficient a particular nation is.
    Some people like to measure productivity with GDP, so I wasn't sure what you were going for. America works more hours, but more hours doing what exactly? What exactly are Americans producing to make America more 'productive?'
    Last edited by AmazonTania; 07-29-13 at 06:44 PM.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    I asked for a primary source. And the only reason I ask because I can't find where this data is myself, but until I gather it, I guess I'll take your word for it.
    It is right there in the links, so much for your convoluted point.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    You can keep playing the game of ignoring inflation and trying to play a time lord......in fact you have to to make your point "stand".....but for the rest of us, we live in the real world, not your fantasy construct.
    I haven't ignored it. It's been brought up too many times for me to ignore. It may be true that employees are making less in real terms, but this doesn't have much to do with how employees are paid. The fact is employees are not being paid less. The value of their wages are just worth less. I also do not deny that it is a problem. It's not a problem for me, but it's a problem...

    That is all.

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