The Most Important Economics Stories of 2013, Told in 40 Graphs

[scott]

http://www.theatlantic.com/business/archive/2013/12/the-most-important-economic-stories-of-2013-in-40-graphs/282193/

[angrydude]

http://25.media.tumblr.com/9e5b7e1aff17a03be037426a973783f8/tumblr_mxeb752HpX1rxf7n9o1_400.jpg

[Winehole23]

L-shaped recovery.

[Th'Pusher]

L-shaped recovery.

Sure. But the question is why.

[boutons_deux]

Sure. But the question is why.

consumers, aka people, are still spooked by the Banksters Great Depression.

Hearing about pensions being stolen by cities and corporations doesn't inspire confidence in the economy. People are being convinced that the American Dream is believable for people who are asleep.

And we all know the official unemployment rate is low-balling bullshit

[The Reckoning]

minimum wage in australia is $15 and they're doing very well. you aren't expected to tip so service job salaries aren't cut for tips. you still get great service too. i also didnt realize the amount of poverty in the US until i went to australia. they also have 6 weeks paid vacation per year...

[baseline bum]

minimum wage in australia is $15 and they're doing very well. you aren't expected to tip so service job salaries aren't cut for tips. you still get great service too. i also didnt realize the amount of poverty in the US until i went to australia. they also have 6 weeks paid vacation per year...

What are food prices in Australia like? I don't imagine they can grow a whole lot there. When I was in New Zealand the prices were completely insane by US standards. And then gas was even worse. Something like $8.00 a gallon. Is it like that in Australia too?

[Winehole23]

Sure. But the question is why.what's your theory on that?

[PlayNando]

Sure. But the question is why.
The recoveries from the US recessions in the early 1990s and 2000s was much the same. It's the new normal.

[PlayNando]

minimum wage in australia is $15 and they're doing very well. you aren't expected to tip so service job salaries aren't cut for tips. you still get great service too. i also didnt realize the amount of poverty in the US until i went to australia. they also have 6 weeks paid vacation per year...
And their youth unemployment rate is very high.......... Wonder why?

[boutons_deux]

The recoveries from the US recessions in the early 1990s and 2000s was much the same. It's the new normal.

bullshit

http://www.cbpp.org/images/chartbook_images/2.1.2-cumulative-loss-OPT.png

[PlayNando]

bullshit

http://www.cbpp.org/images/chartbook_images/2.1.2-cumulative-loss-OPT.png

They weren't as extreme as the 2009-? recovery, but they were very much "jobless". If you were a little older, you'd know this as they were commonly criticized for being jobless recoveries back then. Even your own God damn graph shows this. 1981-1982 was a very deep recession that recovered much quicker than the recessions since. 1990-1991, 2001, and 2007-2009 have featured the slowest employment recoveries since 1948. That is a FACT, so you can stop.

[RandomGuy]

http://www.theatlantic.com/business/archive/2013/12/the-most-important-economic-stories-of-2013-in-40-graphs/282193/

Summary:
Really Rich got a lot richer, rich people got a bit richer, and almost everybody else got poorer.

Kind of puts the lie to "give the job creators more money and we will all be better off". That has got to be one of the more successful propaganda efforts that the hyper-rich have managed to pull over on the useful idiots in the GOP.

[RandomGuy]

http://cdn.theatlantic.com/static/mt/assets/business/Screen%20Shot%202013-03-04%20at%2012.37.51%20PM.png

[RandomGuy]

http://25.media.tumblr.com/9e5b7e1aff17a03be037426a973783f8/tumblr_mxeb752HpX1rxf7n9o1_400.jpg

http://cdn.theatlantic.com/newsroom/img/posts/snapshot-ceo-pay-vs-minimum-wage.png

[ElNono]

http://25.media.tumblr.com/9e5b7e1aff17a03be037426a973783f8/tumblr_mxeb752HpX1rxf7n9o1_400.jpg

Meh, automation has replaced much more than minimum wage jobs.

The minimum wage (notice 'minimum', not 'all' wages) shouldn't be dictated by some sort of business ROI, but by cost of living.

If a machine can do the job cheaper, better and your customers don't mind, then by all means go with automation.

[Spurminator]

http://25.media.tumblr.com/9e5b7e1aff17a03be037426a973783f8/tumblr_mxeb752HpX1rxf7n9o1_400.jpg


Holy shit, you're right! And if we raise minimum wage we might even see self-checkout machines at the likes of Walmart and grocery stores!

[The Reckoning]

And their youth unemployment rate is very high.......... Wonder why?



ever meet an aussie? they're lazy fucks.

they have interest free student loans from the government where you can theoretically be a career student. most aussies ive met don't start careers until they're in their 30s.

[The Reckoning]

What are food prices in Australia like? I don't imagine they can grow a whole lot there. When I was in New Zealand the prices were completely insane by US standards. And then gas was even worse. Something like $8.00 a gallon. Is it like that in Australia too?


depends where you go tbh. big mac meal is 8 bucks where i'm at.


they have central markets where if you go on saturdays and they're about to throw out the produce, you can get a shitload of vegetables, potatoes, etc for next to nothing. generic loafs of shit bread are only a dollar each.


here's a link to their version of HEB if you want to compare prices. http://www.coles.com.au/

[Wild Cobra]

minimum wage in australia is $15 and they're doing very well. you aren't expected to tip so service job salaries aren't cut for tips. you still get great service too. i also didnt realize the amount of poverty in the US until i went to australia. they also have 6 weeks paid vacation per year...

With the exchange rate it is $13.60 US.

That said, they must have so many more people living on that only since their medium income is less the 80% of ours. Could there be too much wealth redistribution?

[Wild Cobra]

There cost of living is much more than ours too:

http://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=United+State s&country2=Australia

[The Reckoning]

With the exchange rate it is $13.60 US.

That said, they must have so many more people living on that only since their medium income is less the 80% of ours. Could there be too much wealth redistribution?


a year ago the AUD was more valuable than the USD.


too much wealth redistribution? lol wtf are you smoking? there's no poverty in australia.

[boutons_deux]

Could there be too much wealth redistribution?

:lol WC assumes if there's isn't intense inequality like in USA from the 1% confiscating from the 99% and buying govt policies that enrichprotect the 1%, then the 99% must confiscating from the 1%.

[Wild Cobra]

LOL...

I'll bet everyone is laughing at how you assume what I assume...

[Wild Cobra]

a year ago the AUD was more valuable than the USD.


too much wealth redistribution? lol wtf are you smoking? there's no poverty in australia.
Very little.

Just more people living just above it.

[The Reckoning]

let's just say i was able to live very comfortably off 1/3 median wage in australia. you just have to know where to shop. i don't buy worthless shit like most people either. only people i ever see homeless were alcoholics or aboriginals.

[Th'Pusher]

what's your theory on that?

A completely and totally polarized and dysfunctional government. Business and individuals uneasy and deleveraging.