8 votes

Weekly US politics news and updates thread - week of September 20

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Tags: usa, politics, recurring.weekly

This thread is posted weekly - please try to post all relevant US political content in here, such as news, updates, opinion articles, etc. Extremely significant events may warrant a separate topic, but almost all should be posted in here.

This is an inherently political thread; please try to avoid antagonistic arguments and bickering matches. Comment threads that devolve into unproductive arguments may be removed so that the overall topic is able to continue.

5 comments

  1. kfwyre
    (edited )
    Link
    Students are destroying bathrooms, swiping school supplies in latest TikTok challenge gone awry This isn't exactly politics, and it isn't exactly worth its own separate submission here, but I...

    Students are destroying bathrooms, swiping school supplies in latest TikTok challenge gone awry

    In recent weeks, an unusual phenomenon has rippled through schools across much of the country: As students have returned to class, bathroom toilets, soap dispensers, science lab microscopes, parking signs and desks have disappeared or been damaged.

    Enticed by a viral TikTok challenge, students have pilfered or vandalized items at their schools and then showed off their antics, or “devious licks,” on the popular social media platform — often as a sped-up version of “Ski Ski BasedGod” by rapper Lil’ B plays in the background.

    This isn't exactly politics, and it isn't exactly worth its own separate submission here, but I figured I'd link this and confirm to anyone curious that this isn't an overblown story or concern. My school has been dealing with it, as have the schools of nearly everybody in my social circle of teachers. Furthermore, based on the articles I've seen about it over the past two weeks from different local sources across the country, it seems like it unfortunately has widespread national presence.

    7 votes
  2. [4]
    HotPants
    Link
    FedEx just painted a disturbing picture of the job market This looks like wage inflation possibly driven by consumer inflation. The fed thinks inflation is temporary. The risk is if we get into a...

    FedEx just painted a disturbing picture of the job market

    This looks like wage inflation possibly driven by consumer inflation.

    The fed thinks inflation is temporary.

    The risk is if we get into a wage / price inflation spiral

    If that happens, the fed might have to eventually raise rates, and that would burst the housing bubble

    But right now the Fed is more worried about lack of inflation. It will be interesting to see how they thread this needle.

    5 votes
    1. [3]
      moocow1452
      Link Parent
      Didn't we just have a housing bubble burst? Is this a consequence of jumpstarting the economy post pandemic, or more of a "we never learn, lol" sort of thing?

      Didn't we just have a housing bubble burst? Is this a consequence of jumpstarting the economy post pandemic, or more of a "we never learn, lol" sort of thing?

      3 votes
      1. [2]
        HotPants
        Link Parent
        In Robert Shiller's Irrational Exuberance, which called the dot com bubble and the housing bubble, he says its normal for one bubble to follow another, and specifically warns that everything was...

        In Robert Shiller's Irrational Exuberance, which called the dot com bubble and the housing bubble, he says its normal for one bubble to follow another, and specifically warns that everything was overpriced as of 2016 due to low rates.

        We had the dot com bubble. The fed lowered short term rates. Which helped, but also caused the housing bubble.

        When the housing bubble burst and uncovered a lot of interconnected shadow banking debt, the fed could only lower short term rates so far, so they stepped in and started buying up assets to twist the yield curve and lower long term rates.

        As Michael Burry puts it, rates are how we price risk. Low rates drive increased debt and asset bubbles. Warren Buffet says stock prices make sense.... if you think rates will remain this low. House prices are favorably comparable to rents... as long as rate stay this low. Shiller points out no one likes the yield on treasuries, but institutions are holding their nose and buying them because they have no choice.

        Warning: I am a perma bear, much like Shiller & Burry. We are all no fun at parties.

        8 votes