Personal Income: Not Keeping Up

It’s called the Personal Income and Outlays report and it begins “Once upon a time….”

“Personal income increased $28.6 billion (0.2 percent) in August according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $14.9 billion (0.1 percent) and personal consumption expenditures (PCE) increased $18.0 billion (0.1 percent).

Real DPI decreased 0.1 percent in August and Real PCE decreased 0.1 percent. The PCE price index increased
0.2 percent. Excluding food and energy, the PCE price index increased 0.1 percent.”

(Continues below)

 

 

The fun part is this:

The increase in personal income in August primarily reflected an increase in government social benefits to
persons and compensation of employees (table 3).

Missed the gravy train, did you?  And this…

Personal saving was $522.9 billion in August
and the personal saving rate, personal saving as a percentage of disposable personal income, was 3.6 percent…

Does anyone actually save 3.6%.   With kids?  The BEA blog has a good article here on how it’s calculated.

Not keeping up with GDP, though.  The GDP going up 3.1% annualized means the wages aren’t keeping up…which ought to make the rich happy-dance today.

The number hasn’t had much impact of the futures which are suffering from a lack of real news.  Next week we get employment data at week’s end, so the market may meander a bit, depending how things go on “the peninsula” this weekend.

Fed Sending Market To new Highs

You can see it in the H.6 money stocks report if you know how to read it.  For the 13 weeks (annualized) through July (in other words the to August) number:  M1 was being pumped at 6.7% annualized.

But through September 13?  The pump is up 9% for M1 annualized for the previous 13 weeks.

And the money goes where?  Why into the market and to facilitate the repurchase of Fed debt which it’s trying to clear off the books.

We don’t know if you got the memo, or not, but market bias is higher, seems to us.

Bloody Friday

One of our children, by marriage, is a phlebotomist.  (So’s my son G2).  Every so often when I read the news thoughts about their job prospects forward roll through my (sick and deranged) mind.  Let’s go for a spin in the medic unit, shall we?

We start with the NY Times piece “In Grim Camps, Rohingya Suffer on ‘Scale That We Couldn’t Imagine’.”  The Wiki entry on these people is grim:

“The Rohingya people (/ro???nd??, –h?n-, –??j?/; historically also termed Arakanese Indians[21][22]) are a stateless[23] Indo-Aryan people from Rakhine State, Myanmar. There were an estimated 1 million Rohingya living in Myanmar before the 2016–17 crisis.[1][24] The majority are Muslim while a minority are Hindu.[25][26][27][28][29] Described by the United Nations in 2013 as one of the most persecuted minorities in the world,[30][31][32] the Rohingya population are denied citizenship under the 1982 Myanmar nationality law.[33][34][35] According to Human Rights Watch, the 1982 laws “effectively deny to the Rohingya the possibility of acquiring a nationality. Despite being able to trace Rohingya history to the 8th century, Myanmar law does not recognize the ethnic minority as one of the eight “national races”.[35] They are also restricted from freedom of movement, state education and civil service jobs.[35][36] The legal conditions faced by the Rohingya in Myanmar have been compared with Apartheid.[

It’s a sorry mess, for sure.  No telling how many will die.

While the US press is dutifully bashing the Trump administration for everything from Ivanka’s clothing choices on, realize that this didn’t just start when the bashers ran out of mean-n-nasties to hurl at Trump.  The problem, arguably, would never have grown to such a scale had the press been more alert to what news is, rather than pandering to the infotainment concept.

Sorry, back to point.

Our next stop the medic unit ride this morning is India.  Mumbai rush hour stampede leaves 22 dead. Collapse fears on a pedestrian fly-over.

As always, there’s nothing like a career in medicine…depending where you practice.

Thank to Another Obama Appointee…

Black Lives Matter is a Social Movement That Can’t be Sued, Judge Rules.

The legal logic on this is as full of crap as most of Obamite nonsense is:  The judge (appointed by you know) said BLM is a movement and can’t be sued.

Which is bullshit:  The filings had names and addresses.  And if you have those, you have persons, not movement.

We expect this to be reversed on appeal, but no telling how many Obama holderovers, so to speak, are left.

Assange Offers Russia Deal

This one is interesting:  Julian (WikiLeaks) Assange says he’s got proof that the last, what is it, 10 months? of Trump-bashing has been collusion between the democrats at the left guard intel agencies.

So far the Trump folks haven’t responded – seems there are still palace guards who want the boss kept in the dark about such offers.

Meantime, Glenn Greenwald over at The Intercept is saying, essentially the same thing we have been since election day. “Yet Another Major Russia Story Falls Apart. Is Skepticism Permissible Yet?.”

Well, duh.  As usual, the UrbanSurvival follow the money mantra will be right again.  Sometimes it takes a year, or so.  But speaking of which, notice how the Foundation has gone quiet?

In fairness, Clinton: Media, opponents ‘savagely smeared’ the Clinton Foundation…but tell us about that uranium deal, again?  And about the email server?  And about why what’s his name went to jail without his wife?  Jeez…pays big to have friends in high places, I guess.

Fine new lease too: As the Clinton Foundation inks a sublease at 1633 Broadway.  Nice ‘hood.

Meanwhile, we’re counting down to the new Tom Cruise movie American Made.  Question is:  is it a truth leak?

Running Out of News?

13-Coins restaurant in Seattle retired its legendary SST-Sandwich nearly 10-years ago.  (It’s still on their “secret menu” if you ask, though.)

So if it’s clear the SST is long gone, why, we’re wondering, is CNN rolling out the umpteenth rehash of the TU-144 isn’t flying much story?

Meantime, the network is offering medical advice, too, like 8 foods that can cause heartburn.

Yea, verily, brothers and sisters, the country has too much channel capacity and not enough real content.

Then There’s the Packers

Standing and linking arms?  Players did – and so did some of the fans.

Whether that’s a “reasonable accommodation” or just a pause in the attack of the ms.guided SJW types remains to be seen.  We’d accept it as compromise, except that it leaves us in a world of hurt with no national hand-wringer to go manic about.  And then we’re back to the too much channel capacity problem.

Woe is with us.

From the Political Correctness Directorate

What to Say to Someone Who Is Observing Yom Kippur.

Or from us, a simple Tzom kal.

Smart-ass Headlines Answered

Will my anorexia stop me going to university?  If you’re dead from it, generally yes.  Unless admissions are behind plan…

Brexit: Are more British nationals applying for dual nationality in the EU?  Yes, the very rich I figure.

How long should we wash our hands?  a) until they are clean b) until they fall off   Didn’t I tell you there was a “news shortage” on?

How do zebrafish develop their stripes?  (Gee, I dunno…by screwing zebras, maybe?)

Did rapid sea-level rise drown fossil coral reefs around Hawaii?  How old is this question?

Who’s afraid of disruption?  The rich.

Can a $300 Cooler Unite America?  If there is 90-million gallons of Everclear in it, maybe…

 


Comments

Personal Income: Not Keeping Up — 19 Comments

  1. “Personal Income: Not Keeping Up”

    LMAO…hmmm
    DUH… LOL.. the best years of my life was in the seventies making a dollar and a half an hour.. in the middle eighties it started to erode after the NAFTA treaty was signed and jobs started to leave the US..
    worked up to six jobs to survive under the Reagan admin and the big recession there.. and during the nineties as the cost of insurance took off.. phew..
    Now one in ten get food stamps and 70 percent receive the EIC tax credit.. twenty percent that qualify for it don’t go for it.. it is up what 40 percent..
    income levels for the average worker is between one and three percent around here it is two percent.. workers bonuses that everyone got when the last generation ran the companies is way down and corporate or administration bonuses is way up.. the cost of food.. just last year I budget ten dollars a day for food.. this year I had to increase it to 11.50 a day.. with this next years budget I am raising it to 12.50.. just to keep up with raising costs..
    fuel.. back in the seventies you could get gas at fuel war prices of thirty cents a gallon and regular price 45.. the day it was deregulated it jumped from 67.9 to 109.9 over night.. hasn’t been below a dollar since.. the same with deregulating the insurance industry and medical industry.. before everyone had insurance.. part time full time anytime.. you got it.. now you have to really look to find anyone that even offers it to the standard employee.. I worked at the hospital and even there till they became self insured.. 67 percent were uninsured of those taking care of the patients on the floor..
    daycare.. the teller at the bank.. after daycare and health insurance and the cost of travel she makes One dollar a payday..
    the average laborer starts working around these parts at 8.50 top wage of 13.00
    so income not keeping up.. now.. this is a double edged sword here.. give a tax relief but take away the eic tax credit that seventy percent get..cut back food stamps that one in ten get.. school lunch program.. OH HECK.. I read all this in a book that george turned us all onto…. https://ia800707.us.archive.org/1/items/ZweitesBuch-AdolfHitlersSecretBook/ZweitesBuch-adolfHitler-1928-hitlersSecretBook.pdf

    The wealthy may spend money.. but it is the average person running for milk eggs and diapers toilet paper etc.. and the shoes for the kids.. the necessities that spend the majority of the cash.. without them spending you stall the economy..
    by taking what little bit away from them through federal assistance funds and send more jobs overseas so that they cannot provide for the basic necessities and you have a real problem you think that people are discontented and the news full of crap now.. put the puzzle together. a basic budget nothing serious here no insurance.. just the basics.. 700.00 rent. 100.00 electricity, 75.00 heating and cooking fuel, 300.00 food, car payment 250.00 ( to 400.00) travel expenses 100.00 .see what comes out of it. just to survive no insurance at all no recreational expenses included and no surprise expenses.. you have to take home ten dollars an hour.. now add the rest of the expenses in there and you have to take home just under twenty and that doesn’t count for daycare.. daughter has three kids in daycare.. her daycare with assistance is just under two grand a month.. so.. not keeping up..
    that is why People voted for trump.. they seen him as the only logical choice.. he makes the most sense.. he isn’t a politician that only works for the puppet masters.. and hasn’t done anything in over four decades.. he is totally independent.. his companies have almost an 80 percent retention level.. that says a ton right there.. most companies have less than sixty if you have a company that has a forty percent turnover or better you have to question what is wrong not with the workers but what is wrong with the management.. why can’t they keep help..

  2. When you go to Wikipedia four sources about Antigravity remember it’s already been picked over and all you get is the leftovers so the truth is harder to find like I told you before YouTube is cut off thousands of old videos that told about the truth so what we have now is a society that’s being bad through the mass media Facebook YouTube and others with the only things they want you to know a lot of the stuff has been put back up but every once in a while they catch up to him and put out the fire in a certain category so go for it George

    • I just received my 2018 Medicare book scam just keeps getting bigger doesn’t it if you were living on an island and you are a worker on that island and in to say you had a doctor and maybe a nurse they took care of all your health issues but what it is with the medical community is Thursday’s people at the top of the pyramid that run the banking organizations and on the corporations that run everything from a to z and what they want is for when you die for them to have possession of your property

      • And you can tell this is there a genda by how they make war and go out and try to conquer every smaller country than them and say pass wear your masters where are from a different universe and you are slaves see how they think

  3. Hey George,

    Got to thinking after you took me to the woodshed to school me that deficit spending is now jake.

    Ok. So be it. But shouldn’t we have a national debate where to spend all that borrowed money? I mean, we’re all just assuming tax cuts are the answer. But, what if it turns out that tax cuts are not the most effective place to spend the money? Republicans no doubt want the most bang for their buck too. Mike.

  4. “Does anyone actually save 3.6%”

    I doubt many do, but yes, some do. In fact, we save over 10% right now (for retirement) to make up for not saving when we were younger. So it is possible, but its not easy. You have to live below your means and have self-control. A naturally cheap wife doesn’t hurt either ;-)

    • “A successful man is a man who can make more money than his wife can spend.

      A successful woman is a woman who can find such a man.”

      Like Gene (I suspect), I take some pleasure in the fact that my wife and I both meet this definition of “successful”.

      Dick

      • That’s a mighty fine accomplishment – but did you have kids? They’ll mostly pick the bones clean

    • everyone that I know.. I use to save five percent for retirement.. the company gave 2.5 percent.. they did away with the 2.5 percent now it is totally up to the worker..
      with cost of living increases the amount people save is way down.. right now they live on plastic.. and trying to keep their standard and quality of life where it is right now..
      what will happen is what happens in grocery stores.. during the last few recessions.. people would cut way back on spending for groceries.. because it is one of the only sources that they have control over.. just like companies.. they can’t control what expenses they have for set expenses.. they will stay no matter what.. so companies usually cut labor hours.. the only thing they really have control over.. a double edge sword.. right now hospitals.. they get rid of the professionals.. keep the total low then add non professionals to do the work under the professionals license..
      eventually just like at the grocery store.. food is more important and as the small luxury items increase they will go to the wayside and the necessities will continue on..death of the internet.. at seventy dollars a month.. if it gets to that point.. its gone.. almost two grand a month in insurances.. if it comes to food or insurance.. the insurance will have to go byby.. two hundred plus in cable.. well books and a library work just fine.. car.. ride the bus.household tax.. boy there is a fund in itself.. the only ones that save ten percent or more are usually management at least around here..

      • All good points, thanks for all your posts these last several weeks. We are already there. Joined Samaritan Ministries don’t do insurance never will again as have been priced out of the market on purpose by Goober and the demoncraps. We have made many changes to cope and stay out of the way of the criminal class running over us and the criminals running amongst us.

  5. personal income not keeping up: I live on Social Security. Last year, we received an increase that just happened to match the increased Medicare premium. I now pay $148 per month to Medicare and typically use about a third of that in medical care per year. This year, I am promised $30 more income but have not yet been told if Medicare premium is going up.

    It’s a good thing for me that I can live well on relatively low income.

      • Three years ago the electric industry was deregulated in my home state. Rates doubles overnight. Really, rates literally doubled. I never receive an electric bill now for less than 100. Three years ago I’d hardly ever receive an electric bill over 100.

    • Our company sponsored health insurance goes up every year more than our income. And the company actually pays 65% of the premium, including dependents.

      My boss is going on medicare October 1st, as he turns 65. But because of his high income, they want $400.00+ per month (not including supplemental insurance) as it’s based on income. While he can afford it at this point…

      Our company insurance is also “non-creditable” which is a fancy term for it’s not as good as medicare.

  6. Quick note: Take a look at what’s behind the Rohingya issue & wonder why are NGOs coming out behind it & why is it this story making it into the MSM when the Yemen story is not? This will lead you to find what’s really behind this issue: the refusal of Myanmar to pivot to the US. Expect US foreign policy to further ingratiate itself on this situation with the ultimate goal (as usual) of “democracy” of course. They are already facilitating AQ/ ISIS in Myanmar, direct from Saudi (as they are in the Philippines). It’s the same old playbook as ever, let’s not fall for it again.

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