Poor men.
Another study suggests that men without college degrees face the worst job prospects.
These men are the first to worry about their jobs: not the next job they wish they had, but the current one they have and would like to hold onto.
As their slog continues and their ceilings lower, working class men talk often about their jobs. Those conversations typically use impolite words that describe what affects their paychecks. It's not hard to interpret what they mean by the words they use.
In the meantime, establishment types get upset over the public use of modestly rough language that is widely used by working men in their private conversations from shop floors to where they drink coffee, which is likely at the same place you could quickly get a hamburger.
Jobs are important to men. So they laugh when they hear familiar words spoken in more proper settings.
But as they laugh they also know America is ignoring what men, especially working class men, need most.
Establishment types who act offended about the use of colorful language don't know the people who use that kind of language the most. 2016 is an important year.
Ding Dong! Happy New Year. PB
------
See the Wall Street Journal: Why Job Growth Could Get Even Worse for Men Without College Degrees
Link: http://blogs.wsj.com/economics/2015/12/31/why-job-growth-could-get-even-worse-for-men-without-college-degrees/
Thursday, December 31, 2015
Tuesday, December 22, 2015
The New Stagflation: less jobs from less Startups, but more Government
Things ain't what they seem to be, or used to be.
New business formation has slowed in the last decade. At the same time, the size of government has exploded. Americans are poorly served by that combination.
New successful businesses create new jobs. Yet our economy suffers from stagnation of job growth. As Robert Samuelson, quoted below, writes: "there's a double whammy: fewer startups and slower growth at the survivors."
So, what do we have that might best describe this?
Let's use a word from the Nixon-Carter 1970s and apply it to the current George W. Obama decade and a half:
Stagflation. Today it means: stagnation of job growth; inflation of government growth.
Speaking of the 1970s, that's when Miller Lite beer was introduced through an advertising campaign: Tastes Great, Less Filling. Not so much anymore.
Today's Stagflation certainly doesn't taste great, but clearly it is less filling when it comes to creating jobs. PB
------
From economist Robert Samuelson writing at Investors.com:
There's more discouraging news about American business — specifically about entrepreneurship.
We confidently assume that we have the world's most entrepreneurial nation, and the proof seems overwhelming.
Google, Facebook and Twitter are but three (relatively) recent startups that have become corporate titans.
Before them, there were others: Microsoft, Intel and FedEx. We seem to excel at nurturing new firms.
Or do we?
Previous studies have shown that, despite the success of firms like Facebook, the number of startups has dropped sharply, from about 13% of all firms in the late 1980s to about 8% in 2011.
Now a new study from the National Bureau of Economic Research reports that the expansion of the remaining startups — which traditionally has been much faster than the growth of existing companies — has slowed considerably.
By some measures, it now barely exceeds the average of older companies.
So there's a double whammy: fewer startups and slower growth at the survivors.
This could be one reason the recovery from the Great Recession has been so sluggish, with the economy's growth averaging about 2% annually from 2010 to 2014, much slower than earlier post-World War II recoveries...
The upshot: "Startups and high-growth young firms (under five years) contributed less to U.S. job creation in the post-2000 period than in earlier periods," said the report.
The startup slump may also help explain the slowdown in productivity — a measure of efficiency that ultimately raises living standards.
From 2010 to 2014, productivity grew a meager 0.3% annually, also well below the post-World War II average of about 2%, according to the Bureau of Labor Statistics...
Just what has caused the startup slump isn't clear, the study admits...
What's clear is the startup slump is consistent with other business behavior, specifically weak investment spending on new plants and machinery.
Compared with the past, companies seem more reluctant to invest in the future.
"There is now robust evidence, from multiple data sources ... of a pervasive decline in U.S. business dynamism over the last several decades," says the study, which was released earlier this month.
------
http://news.investors.com/ibd-editorials-perspective/121715-785867-robert-j-samuelson-says-us-in-a-serious-startup-slump.htm
New business formation has slowed in the last decade. At the same time, the size of government has exploded. Americans are poorly served by that combination.
New successful businesses create new jobs. Yet our economy suffers from stagnation of job growth. As Robert Samuelson, quoted below, writes: "there's a double whammy: fewer startups and slower growth at the survivors."
So, what do we have that might best describe this?
Let's use a word from the Nixon-Carter 1970s and apply it to the current George W. Obama decade and a half:
Stagflation. Today it means: stagnation of job growth; inflation of government growth.
Speaking of the 1970s, that's when Miller Lite beer was introduced through an advertising campaign: Tastes Great, Less Filling. Not so much anymore.
Today's Stagflation certainly doesn't taste great, but clearly it is less filling when it comes to creating jobs. PB
------
From economist Robert Samuelson writing at Investors.com:
There's more discouraging news about American business — specifically about entrepreneurship.
We confidently assume that we have the world's most entrepreneurial nation, and the proof seems overwhelming.
Google, Facebook and Twitter are but three (relatively) recent startups that have become corporate titans.
Before them, there were others: Microsoft, Intel and FedEx. We seem to excel at nurturing new firms.
Or do we?
Previous studies have shown that, despite the success of firms like Facebook, the number of startups has dropped sharply, from about 13% of all firms in the late 1980s to about 8% in 2011.
Now a new study from the National Bureau of Economic Research reports that the expansion of the remaining startups — which traditionally has been much faster than the growth of existing companies — has slowed considerably.
By some measures, it now barely exceeds the average of older companies.
So there's a double whammy: fewer startups and slower growth at the survivors.
This could be one reason the recovery from the Great Recession has been so sluggish, with the economy's growth averaging about 2% annually from 2010 to 2014, much slower than earlier post-World War II recoveries...
The upshot: "Startups and high-growth young firms (under five years) contributed less to U.S. job creation in the post-2000 period than in earlier periods," said the report.
The startup slump may also help explain the slowdown in productivity — a measure of efficiency that ultimately raises living standards.
From 2010 to 2014, productivity grew a meager 0.3% annually, also well below the post-World War II average of about 2%, according to the Bureau of Labor Statistics...
Just what has caused the startup slump isn't clear, the study admits...
What's clear is the startup slump is consistent with other business behavior, specifically weak investment spending on new plants and machinery.
Compared with the past, companies seem more reluctant to invest in the future.
"There is now robust evidence, from multiple data sources ... of a pervasive decline in U.S. business dynamism over the last several decades," says the study, which was released earlier this month.
------
http://news.investors.com/ibd-editorials-perspective/121715-785867-robert-j-samuelson-says-us-in-a-serious-startup-slump.htm
Saturday, December 12, 2015
Junk Bonds Are Tanking -- Icahn Says Meltdown `Just Beginning'
From Bloomberg.com:
A day after a prominent Wall Street firm shocked investors by freezing withdrawals from a credit mutual fund, things only got nastier in the junk-bond market.
Prices on the high-risk securities sank to levels not seen in six years and, to add to the growing sense of alarm, billionaire investor Carl Icahn said the sell off is only starting.
“The meltdown in High Yield is just beginning," Icahn, who’s been betting against the high-yield market, wrote on his verified Twitter account Friday.
Icahn’s comments come as junk-bond investors, already stung by the worst losses since 2008, are the most nervous they’ve been in three years after Third Avenue Management took the rare step of freezing withdrawals from a $788 million credit mutual fund...
The move by Third Avenue, announced on Dec. 9, is the latest omen of stress in a market already beaten down by a prolonged slump in oil prices that has battered the energy sector.
The news came as appetite for risk globally is souring as the countdown to the Federal Reserve’s probable interest-rate increase sparked a sell off in equities and other risk assets...
The weakness in the market comes as credit quality in speculative-grade debt is falling.
For every junk-bond issuer that had its rating boosted this year, two have been downgraded, a ratio not seen since 2009, according to data compiled by Bloomberg.
And companies are increasingly defaulting on their debt.
Swift Energy Co.’s failure to make an $8.9 million interest payment last week raised the global tally of defaults to 102 issuers, a figure last exceeded in 2009, according to Standard & Poor’s...
------
Link: http://www.bloomberg.com/news/articles/2015-12-11/junk-bond-fear-gauge-nears-3-year-high-after-third-avenue-freeze
A day after a prominent Wall Street firm shocked investors by freezing withdrawals from a credit mutual fund, things only got nastier in the junk-bond market.
Prices on the high-risk securities sank to levels not seen in six years and, to add to the growing sense of alarm, billionaire investor Carl Icahn said the sell off is only starting.
“The meltdown in High Yield is just beginning," Icahn, who’s been betting against the high-yield market, wrote on his verified Twitter account Friday.
Icahn’s comments come as junk-bond investors, already stung by the worst losses since 2008, are the most nervous they’ve been in three years after Third Avenue Management took the rare step of freezing withdrawals from a $788 million credit mutual fund...
The move by Third Avenue, announced on Dec. 9, is the latest omen of stress in a market already beaten down by a prolonged slump in oil prices that has battered the energy sector.
The news came as appetite for risk globally is souring as the countdown to the Federal Reserve’s probable interest-rate increase sparked a sell off in equities and other risk assets...
The weakness in the market comes as credit quality in speculative-grade debt is falling.
For every junk-bond issuer that had its rating boosted this year, two have been downgraded, a ratio not seen since 2009, according to data compiled by Bloomberg.
And companies are increasingly defaulting on their debt.
Swift Energy Co.’s failure to make an $8.9 million interest payment last week raised the global tally of defaults to 102 issuers, a figure last exceeded in 2009, according to Standard & Poor’s...
------
Link: http://www.bloomberg.com/news/articles/2015-12-11/junk-bond-fear-gauge-nears-3-year-high-after-third-avenue-freeze
Thursday, December 3, 2015
Hillary: Al Gore in a Pantsuit
Uh oh. Does this mean what I think it means? PB
------
From TheHill.com:
HILLARY CLINTON'S LIKABILITY PROBLEM
Allies of Hillary Clinton ... are worried about one big thing: her likability problem in the general election...
Presidential elections are often decided on personality instead of specific policies.
Along those lines, people in Clinton’s orbit are worried she doesn’t pass the would-you-like-to-have-a-beer-with-her test.
It’s a test she failed against then-Sen. Barack Obama (D-Ill.) in 2008...
Head-to-head 2016 matchups suggest vulnerabilities for Clinton, particularly against Sen. Marco Rubio, the Florida Republican who often talks about his love of professional football.
Team Clinton spent a good part of 2015 highlighting the former first lady’s personality, which they call warm and effusive.
Clinton aides, longtime confidants and friends have always maintained she is charming and funny, at least behind the scenes and out of the public spotlight...
------
STOP THE CLOCK! ROLL BACK THE CALENDAR!!
GO BACK 15 YEARS!!! YES, THAT MEANS AL GORE!!!!
AL GORE'S A LOSER IF IT'S LIKABILITY THAT VOTERS WANT
BY Cokie Roberts, Steven V., Roberts
NEW YORK DAILY NEWS
Wednesday, August 16, 2000
This election should be a slam dunk for Vice President Gore. National moods and markets are soaring. From Wal-Mart to Wall Street, the future looks healthy.
History says the incumbent party will sail to victory on this tide of optimism.
But that is not happening, and Democrats gathered here to nominate Gore are feeling frazzled and frustrated. One party baron pronounced the vice president's campaign "moribund," and President Clinton is grumbling to friends that his old running mate can't seem to get his act together.
Much of Gore's problem comes down to two words: leadership and likability.
In the latest Los Angeles Times survey, voters prefer Texas Gov. George W. Bush by wide margins on both questions - a major reason why the Republican nominee holds a 9-point lead overall.
This drives Democrats nuts...
------
Links:
http://thehill.com/homenews/campaign/261741-hillary-clintons-likability-problem
http://www.nydailynews.com/archives/opinions/al-gore-loser-likability-voters-article-1.877229
------
From TheHill.com:
HILLARY CLINTON'S LIKABILITY PROBLEM
Allies of Hillary Clinton ... are worried about one big thing: her likability problem in the general election...
Presidential elections are often decided on personality instead of specific policies.
Along those lines, people in Clinton’s orbit are worried she doesn’t pass the would-you-like-to-have-a-beer-with-her test.
It’s a test she failed against then-Sen. Barack Obama (D-Ill.) in 2008...
Head-to-head 2016 matchups suggest vulnerabilities for Clinton, particularly against Sen. Marco Rubio, the Florida Republican who often talks about his love of professional football.
Team Clinton spent a good part of 2015 highlighting the former first lady’s personality, which they call warm and effusive.
Clinton aides, longtime confidants and friends have always maintained she is charming and funny, at least behind the scenes and out of the public spotlight...
------
STOP THE CLOCK! ROLL BACK THE CALENDAR!!
GO BACK 15 YEARS!!! YES, THAT MEANS AL GORE!!!!
AL GORE'S A LOSER IF IT'S LIKABILITY THAT VOTERS WANT
BY Cokie Roberts, Steven V., Roberts
NEW YORK DAILY NEWS
Wednesday, August 16, 2000
This election should be a slam dunk for Vice President Gore. National moods and markets are soaring. From Wal-Mart to Wall Street, the future looks healthy.
History says the incumbent party will sail to victory on this tide of optimism.
But that is not happening, and Democrats gathered here to nominate Gore are feeling frazzled and frustrated. One party baron pronounced the vice president's campaign "moribund," and President Clinton is grumbling to friends that his old running mate can't seem to get his act together.
Much of Gore's problem comes down to two words: leadership and likability.
In the latest Los Angeles Times survey, voters prefer Texas Gov. George W. Bush by wide margins on both questions - a major reason why the Republican nominee holds a 9-point lead overall.
This drives Democrats nuts...
------
Links:
http://thehill.com/homenews/campaign/261741-hillary-clintons-likability-problem
http://www.nydailynews.com/archives/opinions/al-gore-loser-likability-voters-article-1.877229
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