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Analysis | The Richcession Keeps Rolling — The Wall Street Journal

The pandemic-triggered unwinding of inequality continues
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Essentially the middle / upper middle class has been hit the hardest. Their jobs are seeing the most layoffs post Covid as the economy struggles with inflation and have seen the least success with wage increases. They have either seen no raises or raises that are nowhere close to keeping up with inflation.

The wealthy of course or doing just fine and pocketing more money than ever before. And the poor people working service jobs saw most of the wage increases and no where near as many layoffs as corporate office workers.


They pay gap between the poor and the middle class has narrowed. And the top 1% continue to increase their pay gap to record levels. Inequality is running rampant. Or not if you listen to those that say inequality is in the down fall because the pay gap between the middle class and the poor continues to close. But to me, I think that just means we are all becoming poor.
 
RenegadeMonster said:
apple.news

Analysis | The Richcession Keeps Rolling — The Wall Street Journal

The pandemic-triggered unwinding of inequality continues
apple.news apple.news

Essentially the middle / upper middle class has been hit the hardest. Their jobs are seeing the most layoffs post Covid as the economy struggles with inflation and have seen the least success with wage increases. They have either seen no raises or raises that are nowhere close to keeping up with inflation.

The wealthy of course or doing just fine and pocketing more money than ever before. And the poor people working service jobs saw most of the wage increases and no where near as many layoffs as corporate office workers.


They pay gap between the poor and the middle class has narrowed. And the top 1% continue to increase their pay gap to record levels. Inequality is running rampant. Or not if you listen to those that say inequality is in the down fall because the pay gap between the middle class and the poor continues to close. But to me, I think that just means we are all becoming poor.
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It’s also the highest marginally taxed group in terms of percentage of income by a distance.

It sure beats the breadline though!
 

A federal judge has ruled that "missinformation" is protected speech and the biden administration / federal agencies can not communicate with Social Media companies to help them identify missinformation. In other words, in a public health emergency, dangerous and wrong information being spread is protected speech and the CDC can not help provide social media with the facts and help them identify missinformation.
 
RenegadeMonster said:

A federal judge has ruled that "missinformation" is protected speech and the biden administration / federal agencies can not communicate with Social Media companies to help them identify missinformation. In other words, in a public health emergency, dangerous and wrong information being spread is protected speech and the CDC can not help provide social media with the facts and help them identify missinformation.
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Ehhhhh. I'm not sure this is an entirely wrong ruling.

Picture the Trump administration correcting the 'misinformation' that horse medicine is not bad, and in fact yes, totally helps your slight case of 'rona. Or that masks don't work and you definitely need to go back to work.

Now picture the Trump administration telling a social media company to promote it's views, with the full weight of the government behind it.

"Hello facebook, here is the anti-ukraine/pro-putin narrative that we would like you to push to all users over 50."

It's one thing for the CDC (or other government organ) to post it's work/decisions/information and let media companies decide on their own, but having the government work with media companies is a different animal.
 
yukbon said:
Ehhhhh. I'm not sure this is an entirely wrong ruling.

Picture the Trump administration correcting the 'misinformation' that horse medicine is not bad, and in fact yes, totally helps your slight case of 'rona. Or that masks don't work and you definitely need to go back to work.

Now picture the Trump administration telling a social media company to promote it's views, with the full weight of the government behind it.

"Hello facebook, here is the anti-ukraine/pro-putin narrative that we would like you to push to all users over 50."

It's one thing for the CDC (or other government organ) to post it's work/decisions/information and let media companies decide on their own, but having the government work with media companies is a different animal.
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I read it more as the government agencies like the CDCs were sharing information with social media companies, which is different in my opinion with working with.

If the government was working with then for sure this ruling wasn't wrong. The social media companies every right to manage the misinformation as the please. The part I'm questioning though, is sharing of information directly with social media companies. So essentially, if say Facebook rached out for a fact check on a new suber pandemic, the CDC wouldn't be able to give them the information they requested directly. They could post it on their website and hope Facebook stumbled upon it. But they wouldn't be able to answer questions directly and share information. And that's the part that I find worrisome.
 
RenegadeMonster said:
I read it more as the government agencies like the CDCs were sharing information with social media companies, which is different in my opinion with working with.
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I read it as "working with" (or more darkly "mandating to") media companies/social media companies, because the gov already shares and publishes it's own information. Like, the CDC already puts out press releases and PDFs and what have you, and nothing stops FB/Twitter/CNN/Fox from getting those and using the information in them. But this ruling still happened, so, it's not about that.
 
Without reading the ruling, the article posted paints a picture of agencies in the government flagging/forwarding social media posts for/to social media companies and coercing them to delete/edit such posts. That would be state sponsored censorship (not unlike book banning) which would indeed be a breach of first amendment rights.

It does not read as the agencies are not allowed to communicate with them for fact checking purposes.
 
It also allows provisions for national security which could certainly be invoked with nonsense like Covid misinformation.
 
Workers born between 1964 and 1980 — those currently aged 44 to 59 — represent “effectively all of the increase” in America’s unemployed population over the last half year, according to research by Glassdoor’s Chief Economist Aaron Terrazas. As of May, those workers represented roughly a quarter of those unemployed, compared to less than 20 percent in late 2022. And it’s taking those workers much longer to find new jobs.

www.politico.com

The MTV generation’s unemployment problem

The Labor Department reported Friday morning that the U.S. job market added a net 209,000 jobs in June and the unemployment rate ticked down to 3.6 percent.
www.politico.com www.politico.com
 
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