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51 votes
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The economics of $15 salads
8 votes -
California says restaurants must bake all of their add-on fees into menu prices
70 votes -
Mortgage companies could intensify the next recession, US officials warn
24 votes -
Seattle’s law mandating higher pay for food delivery workers is a case study in backfire economics
18 votes -
The US Federal Reserve fears a bond meltdown
6 votes -
It’s the first time crypto has become an issue in the general election of a US Presidential race
3 votes -
How private equity consumed America
26 votes -
San Francisco office sells for a stunning 90% discount from 2016 price
34 votes -
GDP per capita vs. the federal poverty rate over the years (observation and discussion)
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this. In the 1960s, America's GDP (per capita) was $3,000. Also, in 1960, the...
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this.
In the 1960s, America's GDP (per capita) was $3,000.
Also, in 1960, the federal poverty limit was $3,000 for a family of four.In 2023, the GDP (per capita) was $82,034.
The federal poverty limit for a family of four in 2023 was $30,000.This can't be good for the American people. Unless I'm drawing comparisons between two completely unrelated things?
People who are barely in poverty today would have to earn ~2.7x the amount they earn to stay consistent with those who were barely in poverty in the 1960s if GDP and FPL were still equal to each other. So what about the families caught in the middle? Too high earnings to get help and too low to thrive? They just suffer, I guess.
Out of curiosity, I calculated what the thresholds would be if the percentages of GDP to FPL were swapped between 2023 and 1960.
1960s numbers adjusted if FPL matched 2023's percentage:
GDP=$3,000
FPL=$1,1111960s numbers adjusted if GDP matched the percentage comparison of 2023:
GDP=$8,100
FPL=$3,000Please let me know if it actually matters that the GDP per capita is 2.7x the federal poverty limit for a family of four. Also, let me know your thoughts.
8 votes -
Japan intervenes after Yen slides against the Dollar
20 votes -
US Federal Reserve official lamented how “bashing the Fed is a bipartisan sport”
6 votes -
Big Tech has slashed its office presence in San Francisco by half
22 votes -
New Jersey is motivating telecommuters to appeal their New York tax bills. Connecticut may be next.
13 votes -
Two SEC lawyers resign after agency censured for abuse of power in US crypto case
12 votes -
I grew up in Michigan but currently live in Georgia. My GF and I are looking at buying a house, and both states have first time home buyer incentives, but they're income based.
So we make about $100,000 combined, I make just shy of 70K and she makes about 30K. Both states have programs for first time homebuyers, but our incomes together prohibit us from qualifying,...
So we make about $100,000 combined, I make just shy of 70K and she makes about 30K.
Both states have programs for first time homebuyers, but our incomes together prohibit us from qualifying, whereas separately we both qualify.
Would it be considered fraud if I were to apply for one as myself, get the house in my name, but we both pay on it? I can't find anything on either page about it, but obviously we are not legally married.
11 votes -
Rents are the Federal Reserve’s ‘biggest stumbling block’ in taming US inflation
16 votes -
Inflation in times of overlapping emergencies: Systemically significant prices from an input–output perspective
7 votes -
There used to be a people’s bank at the US Post Office
37 votes -
How Hertz’s bet on Teslas went horribly sideways
36 votes -
Home insurance rates to rise 6% in 2024 after 20% increase in last two years
27 votes -
Insurers use aerial photos to check out roofs or to spot yard debris and undeclared trampolines
32 votes -
Kansas bank collapse due to executive caught in pig butchering investment scam from Asia
32 votes -
Disney shareholders officially reject Nelson Peltz’s board bid in big win for CEO Bob Iger
20 votes -
California store sells returned Amazon packages — still in the box
15 votes -
Retirement warning highlights fight over finance’s hardest problem
20 votes -
Fallen crypto mogul Sam Bankman-Fried sentenced to twenty-five years in US prison
54 votes -
Visa, Mastercard settle long-running antitrust suit over swipe fees with merchants
20 votes -
State Farm shedding 72,000 home insurance policies in California
29 votes -
US Federal Reserve’s Jerome Powell ready to support job market, even if it means lingering inflation
7 votes -
Sam Bankman-Fried repeatedly lied to get out of “supervillain” US prison term, FTX CEO alleges
32 votes -
Why the 2% inflation target?
29 votes -
It’s no longer the economy, stupid. America’s hyper-partisan voters express economic sentiments that mirror their politics — this is not true in Europe.
25 votes -
Why are there so many car washes?
24 votes -
US Government removes sanctions on Zimbabwe, imposes sanctions on Zimbabwe's president
8 votes -
The Treasury Standard: Causes and consequences
4 votes -
US Federal Trade Commission head Lina Khan is fighting for an anti-monopoly America. Some say Khan – who’s gone after Kroger, Amazon, and Nvidia – has redefined the US antitrust landscape.
36 votes -
McKinsey
11 votes -
Europe faces 'competitiveness crisis' as US widens [economic] productivity gap
9 votes -
A campaign run by an anonymous entity to block international tax transparency initiatives
16 votes -
350,000 Californians are now on the FAIR Plan, the last resort for fire insurance. Now what?
36 votes -
Why small developers are getting squeezed out of the housing market
18 votes -
Price fixing by algorithm is still price fixing
59 votes -
Walmart buying TV-brand Vizio for its ad-fueling customer data
48 votes -
McKinsey website touted its advice to Chinese government ministries
7 votes -
US Federal Trade Commission and eight states sue to block supermarket merger between Kroger and Albertsons
37 votes -
ETF approval for bitcoin – the naked emperor’s new clothes [European Central Bank criticises US securities regulator for approving a Bitcoin ETF]
20 votes -
Capital One to buy Discover Financial in $35.3 billion all-stock deal
32 votes -
Donald Trump benefits from newly approved merger: The US Securities and Exchange Commission approved a merger between Trump Media and Technology and Digital World Acquisition Corp
7 votes -
Las Vegas workers facing labor abuse get renewed federal protections from deportation
12 votes