I’m streamlining my twitter feed a bit to cut down on noise and to make it easier to keep track of key information links to refer to later. In Quick Takes I post links I find of interest & relevant on any given day. These links will cover a broad spectrum of items, from the market impacting/relevant to economic & political news, social and the occasional potpourri/humorous and I may add a quick thought/impression.
If you, as I am, sift through tons of news throughout the day to stay informed then you may come to find these Quick Takes as a useful resource.
‘I don’t feel wealthy’: The upper middle class is worried about paying for the tax overhaul
Senate plan to scrap income and property tax deductions would be a blow to Californians
QT: No clarity on taxes and competing versions in House and Senate. I encourage everyone to inform themselves on the details. I’ve outlined my larger concerns in detail here: Tax Cut Scam
Major Stock Selloffs Just Aren’t What They Used to Be
QT: That’s because in February 2016 global central banks launched an unprecedented rescue mission. No 3%, 2% or even 1% dips allowed.
You know my view on all this:
I stand by what I’ve said in March: We’re in a final wave up & as with any bubble it has stretched far. May even go further, but the eventual fib retrace will be brutal.
They’ve manufactured a monster.$ES pic.twitter.com/afJkJMGsad— Sven Henrich (@NorthmanTrader) November 8, 2017
Why Is U.S. Wage Growth So Low? It’s All About the Top 80%
QT: If labor has no negotiation power it will not see any wage growth simple as that. While unemployment is officially low the actual labor force participation rate remains historically low.
Remember when the labor participation rate rose when unemployment dropped? Yea, I don’t either:
The marketing numbers don’t match the reality on the ground. Many Americans do not have the skill sets to fill the open positions out there. It’s a great mismatch and one that will incentivize employers to make full use of emerging AI capabilities when they make sense. And many continue to not be in the labor force to start with.
But AI is not only a threat to low skill labor:
Deutsche Bank CEO Says AI Will Help Him Cut Tens Of Thousands Of Jobs
QT: Nobody is safe during the next recession.
Only 2% of Americans can name 3 branches of government
How Fake News Works: Tens of Millions of Americans Would Flunk Any Basic Civics Class
‘I told you so,’ chess legend Garry Kasparov says on Russian interference in the US election
QT: People that are uniformed about how the world works are vulnerable to misinformation. And to the extend misinformation is purposefully orchestrated to be fed to willing minds satisfying preconceived ideology, you end up with political movements not based on facts and reality but on fantasy. It’s a dangerous path for any democracy to embark on. Once people are heart felt convinced of something, whether it is real or not, it is very difficult/impossible to have a fact/reality based conversation or problem solving effort. Hence the tactic of whataboutism is so popular as it gives an easy out to avoid discussing facts. The USA is at high risk of being an uninformed democracy if not already in this state. And uninformed people tend to make poor decisions. Whether at the voting booth or elsewhere. I view it all as a long term structural risk to the well being of the country. I fear it may take a rude awakening first before things can change for the better.
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Categories: Opinion
