Fake President Lies About Jobs, Jobs, Jobs

❝ Trump’s fond of talking about jobs, jobs, jobs, and how they’re “pouring” back into the country and being created in record numbers.

❝ A picture is worth a thousand words, and this picture is a non-starter: 190k/month versus 190k/month. Despite massive deregulation, tax cuts (and a ballooning deficit), walking away from any number of treaties, various trade wars and tariffs. The net results over the following year and a half has been . . . no change.

I guess “Keep American Jobs The Exact Same it Was Under Obama” was too long to fit on a hat . . .

Our fake president’s lies seem simplistic, easy to verify as crap…because he isn’t capable of anything truly creative. Including his lies.

Thanks, Barry Ritholtz

Trump’s ignorance is costing the U.S. billion$ in foreign investment


The cult of Trump

❝ Beyond the cost of President Trump’s trade war with longtime US friends and rivals, his policy of economic nationalism has taken a toll in another important sphere: Net inward investment into the United States by multinational corporations—both foreign and American—has fallen almost to zero. As I pointed out in a posting in Foreign Affairs this month, this shift of corporate investment away from the United States will decrease long-term US income growth, reduce the number of well-paid jobs available, and accelerate the shift of global commerce away from the United States.

❝ A few months ago, I developed in Foreign Affairs the potential emergence of a post-American world economy resulting from Trump’s aggressive bilateral bullying and abandonment of the rules-based international economic order. Today this post-American economic world, one where all investment is more uncertain and politicized—because the US government acts toward businesses as any self-enriching autocracy would—is increasingly on its way. That is apparent in business decisions about large, long-term investments, such as the building of major production facilities; foreign takeovers of, and mergers with, US companies; and investment in research facilities and workers.

Any time I note an upcoming appearance by Adam Posen on Bloomberg TV I try to remember to set the DVR to record. Often, he’s on Tom Keene’s Surveillance early morning show. That’s early morning in NYC – 2 time zones ahead of northern New Mexico. Fortunately, the Bloomberg folks are pretty smart about recognizing demand for top-shelf economists and the analysis they provide – and snip and save those episodes for their app.

Playing the trading game is too much work for an old geek retiree like me. But, I never intend to stop learning about the world around us and he’s a helluva source on the economics side.

Millennials are moving less than preceding generations


How can you tolerate missing out on this?

Americans are moving at the lowest rate on record, and recently released Census Bureau data show that a primary reason is that Millennials are moving significantly less than earlier generations of young adults.

In 2016, only 20% of Millennial 25- to 35-year-olds reported having lived at a different address one year earlier. One-year migration rates were much higher for older generations when they were the same age. For example, when members of the Silent Generation were ages 25 to 35 back in 1963, 26% reported moving within the prior year. And in 2000, when those in Generation X were the age that older Millennials are today, 26% of them reported having moved in the previous year…

It may seem counterintuitive that Millennials would be contributing to a trend toward less geographic mobility. After all, according to Pew Research Center analysis of Current Population Survey data, they are less likely than earlier generations to have three things that tend to be impediments to moving for a young adult:

A spouse…A house…A child…So, if Millennials are less hampered by spouses, houses and kids, why are they moving less than previous generations did at their age?

Labor market opportunities may be a factor. Millennials were hit hard by the Great Recession in terms of job-holding and wages. For many young adults who moved in the past year, job opportunities were a prime motivation for moving, and the modest jobs recovery may not be providing the impetus Millennials need.

RTFA. Interesting, provoking. To my mind – which still thinks it’s 26 years old and keys in on non-conformity to cultural traits and standards stuck into the past – all mostly positive developments.

Pay gap between college graduates and everyone else reaches a record


Shutterstock

❝ Americans with no more than a high school diploma have fallen so far behind college graduates in their economic lives that the earnings gap between college grads and everyone else has reached its widest point on record…

College graduates, on average, earned 56 percent more than high school grads in 2015, according to data compiled by the Economic Policy Institute. That was up from 51 percent in 1999 and is the largest such gap in EPI’s figures dating to 1973.

❝ Since the Great Recession ended in 2009, college-educated workers have captured most of the new jobs and enjoyed pay gains. Non-college grads, by contrast, have faced dwindling job opportunities and an overall 3 percent decline in income, EPI’s data shows…

College grads have long enjoyed economic advantages over Americans with less education. But as the disparity widens, it is doing so in ways that go beyond income, from homeownership to marriage to retirement. Education has become a dividing line that affects how Americans vote, the likelihood that they will own a home and their geographic mobility.

❝ The dominance of college graduates in the economy is, if anything, accelerating. Last year, for the first time, a larger proportion of workers were college grads – 36 percent – than high school-only grads – 34 percent, Carnevale’s research found. The number of employed college grads has risen 21 percent since the recession began in December 2007, while the number of employed people with only a high school degree has dropped nearly 8 percent…

The split is especially stark among white men. For middle-age white men with only high school degrees — the core of President-elect Donald Trump’s support — inflation-adjusted income fell 9 percent from 1996 through 2014, according to Sentier Research, an analytics firm. By contrast, income for white men in the same age bracket who are college graduates jumped 23 percent.

The AP is starting to fill the gap in journalistic choice formerly led by reporting from Reuters and the NY TIMES. Not that the AP has raised standards. Just maintained what they always had while the competition oozes downhill. Especially Reuters since their purchase by Thomson.

RTFA, please. Many more topics of interest needing discussion and thoughtful reflection. As an example: “…Women with college diplomas enjoy an 8-in-10 chance of their first marriage lasting 20 years…That’s double the odds for women with just high school degrees.”

Who’da thunk it?

Brazil pledges the restoration of 85000 square miles of forest


Alstom Foundation workers in Brazil – doing it on their own

❝ Brazil will restore 22 million hectares of land in what’s being called “the largest restoration commitment ever made by a single nation.”

“We are a country of forests,” says Rachel Biderman, director of the World Resources Institute in Brazil. “The national strategy for the restoration of forests and degraded areas positions Brazil as one of the global leaders in the development of a forest economy.”

❝ Between now and 2030, Brazil plans to rehabilitate 12 million hectares of forest land that is degraded or deforested. The balance of the area will be restored and developed through the country’s Low-Carbon Agriculture Plan for crops, managed forests, and pastures. Brazil made the plan public at the United Nations Conference on Biodiversity in Cancún, Mexico, on December 3rd…

❝ Biderman said in a statement. “Restoring 22 million hectares — an area larger than Uruguay — will absorb huge amounts of greenhouse gas emissions, generate clean and plentiful water, and boost agricultural productivity.”

In addition, she said that the healthier, more productive landscapes will generate new jobs and boost Brazil’s economy. According to the WRI, Brazil’s Ministries of Environment and Agriculture teamed up to put together the deal.

Biderman added: “We have all the conditions — ecological, economic, and material — to be internationally competitive, improving technical knowledge and creating jobs.”

Regional collective action seems to continue apace in a number of areas on this planet with a healthy conscience – and an even healthier understanding of the economics of building a Green economy.

Graduate from college – going home, staying or moving on?

net-migration

❝ This year’s election has forced Americans to take notice of class divisions between workers. And while these divisions may at first ring of lazy stereotypes — the rural Rust Belt worker without a college degree and the coastal urban college-educated worker — they’re rooted in a real dynamic. Many of the most skilled workers — young people with college degrees — are leaving struggling regions of America for cities, specifically for cities in Southern and coastal states.

There are clear economic reasons for their choice. Dense metro areas tend to produce more jobs and make workers more productive. Wages, for all kinds of workers, are also higher.

❝ In theory, these incentives should prompt workers of all levels of education to move to metro areas. But moving outside one’s region is relatively rare these days, and even more rare for someone without a college degree

❝ For America’s first century, internal migration was largely driven by farming — moving west to new land. But toward the end of the 19th and in the early 20th century, migration began to be driven by people moving to American cities — small and large.

This pattern added a twist after World War II, when more people began moving outside their local region, particularly to the Sunbelt. Before the 1940s, roughly 15 percent of Americans lived outside a census division in which they were born, and by 1970 that had jumped to 25 percent.

❝ But in the 1980s, people started moving less. Internal migration has been in gradual decline ever since across all demographic groups…In the regional competition for the most skilled and most mobile workers in America, noncoastal states are at a disadvantage. Although they have some large cities, they tend to be farther from other large cities than is the case in the coastal areas…This advantage provided by clusters of cities is helpful for coastal states, which tend to contain many big metro areas, like San Diego, Los Angeles, San Jose and San Francisco in California, or the so-called Acela corridor stretching from Washington to Boston. But it can be bad news for inland areas with one or two large cities that are farther apart…

Folks in the article make the best point – for me – and that is the jobs also have to be someplace you want to live. Otherwise, it’s just a stop along the way…

Wind energy will add billion$ to the Illinois economy


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Illinois’ 25 largest wind farms have supported 20,173 jobs during construction and will add $6.4 billion to local economies over the 25-year life of the projects.

That is one of the findings of a study on the economic impact of wind energy released by Illinois State University’s Center for Renewable Energy…

“Wind energy has played an increasingly important part in the state’s energy mix resulting in numerous economic development benefits,” Center Director David Loomis said. “Decision-makers need to be well-informed about these benefits so that they consider all of the factors when deciding on future wind projects.”

The Center’s report adds that the 25 largest wind farms in Illinois support about 869 permanent jobs with 226 direct jobs in rural areas in Illinois. The wind farms generate $30.4 million in annual property taxes for local communities and $13.86 million in extra income for landowners who lease their land to developers…

Illinois built two new wind farms in 2015 after two years of not building any. Several new wind farms were permitted in 2015 and could start construction in 2016.

Or they could listen to idjits in the pocket of the Koch Bros and go back to polluting the skies of Illinois with more coal-burners.

Jobs — Blowing in the wind

Made-in-the-USA wind power will help keep our economy competitive and our air clean for generations – that’s one key takeaway from the U.S. Wind Industry Annual Report, Year Ending 2015, published by the American Wind Energy Association…

…U.S. wind power now supports a record 88,000 well-paying American jobs. This reflects a 20% growth rate in jobs supported by wind power in 2015 alone.

Last year, you helped us achieve a long-term extension of the primary federal policy incentive for wind power. In doing so, you helped to spur this job growth, and make the future brighter for these employees, and others who aspire to join them. If we succeed in meeting our goal – taking our country to 20% wind power by the year 2030 – the workforce is estimated to grow to 380,000 employees.

How many wind power jobs are in your state? Take a look at the map, and share it with your elected officials.


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Texas leads the nation with over 24,000 wind energy employees.

Wind project construction propelled Oklahoma to second place with more than 7,000 jobs.

Rounding out the top five are Iowa and Colorado with over 6,000 jobs, and after moving up 11 spots, Kansas ranks fifth with over 5,000 wind workers.

Maine gained the most in the state wind employment rankings, rising 16 spots.

No need for wind jokes about politicians and other fossil fuel industry pimps. Fact remains, folks fighting for renewable energy sources are winning and we need to keep up the pressure. The creeps whose profits and lifestyle are centuries behind their sell by-date won’t walk away just because they’re losing. They know American politicians can usually be counted on to go to the highest bidder. We have votes to offer. They have dollar$ to spend on election and re-election campaigns.

Same as it ever was – true. But, just as true, we are winning. Our voices and votes count.

Thanks, Mary Kate Francis