I chose Stacey's chart as it hits close to my heart (burgers once a month, like clockwork, and they have gone UP!) but I love Canadians too, and understand that they are angry, and rightly so, not just at Trump and his sycophants, but at all of us for doing so little to stop him.
Our best neighbor, our closest ally, and this is what we do? Every emergency, they've been here for us, and to let this monster destroy our relationship so quickly and for nothing is enraging.
I applaud our Canadian friends and neighbors for cutting us off completely. I hate it, but agree completely.
I like Stacey's chart a LOT. It tells a great story in color and pictures instead of text. BUT, I'm voting for Justin's chart for the following reasons: feelings are so important!! Great to see them counted up and turned into numbers. Stacey's chart is missing an important element. Why are there labor shortages? Because of mass deportation and drastic reduction in legal immigration. It misses part of the story it should be telling.
It probably won't help but I spent my vacation money for the last 2 years in Canada and have been trying to buy Canadian here in the US as much as I can. I'm a little sad that they think so little of American voters when so many of us did NOT vote for this but I get it.
Loved loved loved the Bacon Chartburger and Stacey's comments. Economics reminds me a lot of medicine in that we tend to be reductionistic in our studies and data out of necessity, but the real challenge is to put the pieces back and try to figure out what happens with the whole which is often not the sum of the parts. Kudos, Stacey, on talking about the animal spirit factor.
1) Public school teachers in Texas have a pension - and few people have those nowadays - but that pension does NOT include cost of living increases. For teachers who retired in 2020 the gross monthly annuity check today is the same as it was six years ago; withholding and insurance premiums have caused small changes in net amounts. Every few years the legislature will have pity and pass a law that creates a one-off payment for teachers. Teachers have gotten one of those in the last six years, and it represented much less than one month's check, or a 1.3% boost over that time.
2) My take on the negative emotions about the economy, data notwithstanding, is that a significant number of people are worried about the future. Finding a new job is challenging, plus for many young people, they don't see many chances for improving their economic situation. It's not that their lives are actually getting worse, it's that they don't see that they will get better.
3) Stacey: When I saw your chart I was thunderstruck! Economics, international trade, foreign affairs, climate change, political policy!! If I were teaching I would download your chart and my kids on Monday would see that and we would have multiple lessons using it! Easily my favorite chart so far. BUT, nothing succeeds like excess! (Winston Churchill about the US in WWII?) Justin: your charts were an incredible deep dive into Canadian responses to becoming US Enemy No. 1! You are right: very little of the current "Operation Economic Outcast - Northern Exposure" is making it into our news down here, so people are largely oblivious. Thank you for the chart deck - I had to vote for it!
United States and Canada have fought each other both in kinetic warfare and in intense trade wars before. While the U.S. and Canada have been exceptionally close military allies for the last century, they fought directly during the era before Canada achieved full independence from Great Britain:
The War of 1812: This was the primary kinetic conflict. The United States launched multiple land invasions into Canadian territory (then British North America). Notable actions included American troops invading and burning down parts of York (modern-day Toronto). In response, British forces—including some units stationed in Canada—retaliated by marching on Washington D.C. and burning the White House. American Revolution (1775–1783): Early in the war, American Continental forces launched an invasion of Quebec. They successfully captured Montreal but were decisively defeated during the Battle of Quebec.Secret Contingency Plans (1920s–1930s): Though it never resulted in kinetic war, the U.S. military drafted a official blueprint which outlined a hypothetical invasion of Canada to seize its ports and industrial infrastructure in the event of a war with Great Britain.
The economic relationship between the two giants has faced major trade blockades throughout history, culminating in active, severe disputes.The McKinley Tariff (1890): The U.S. imposed punishing tariffs of up to 49% on Canadian goods to protect American markets and pressure Canada into economic reliance or annexation. The Smoot-Hawley Tariff (1930): The U.S. raised tariffs by 20%, prompting Canada and two dozen other nations to hit back with severe retaliatory tariffs, worsening the Great Depression. The Softwood Lumber Dispute ("The Lumber Wars"): Beginning in 1982, this became one of the longest-running trade disputes in modern history. The U.S. accused Canada of unfairly subsidizing its lumber industry (since Canadian timber is harvested primarily from government-owned "Crown lands"). This has triggered decades of cyclical tariffs, anti-dumping reviews, and legal challenges.
Abraham Lincoln quoted a Persian fable during a famous speech in 1859, praising the phrase "this too shall pass" for being "chastening in the hour of pride, and consoling in the depths of affliction. I suggest Lincoln's words are relevant today in this instance too.
Yes economics are feelings especially when the worst man in the history of America is in charge of everything and many of the experts have been fired. Be careful what you wish for MAGA.
1. The Medicare premium and associated coverage costs, which are deducted from the social security payments is growing by a higher rate than the cost of living adjustment is. And isn’t there also some “trick” the government is doing where they calculate the cost of living differently when deciding the annual adjustment (knowing full well that it’s a lower number?)
2. I know technically it’s wrong to think of social security and withdrawals from retirement savings as fixed income. The thing is, the not being employed is fixed, whether because of retirement or disability. The sense is that one has less ability to change one’s financial situation, e.g., change jobs, ask for a raise, change careers. Some could take those measures in the event of a personal financial crisis, but a lot couldn’t. So it’s an agency issue.
Plus, we don’t really want retired folks reentering the workforce, do we? They’d be taking jobs that others need. What about passing the torch? And don’t we already have too many older people holding onto their jobs, by which I mean, preventing the younger generations from having leadership positions?
3. Someone else mentioned that some pensions actually are fixed. No adjustments for anything. I’m not sure if all disability insurance policies are like this but I know someone who is receiving benefits from a disability policy. It’s a fixed amount. (And also, it expires at age 65.)
So, I get that “fixed income” is conflated or is technically not as prevalent. I think it’s being used to convey a circumstance that includes less agency to adjust to larger than expected changes in the economy. It’s anxiety on top of already being in a situation where one doesn’t and can’t know whether their savings will last as long as they do.
That being said, I appreciate the context that Justin pointed out. Social Security payments and personal savings/investments are not fixed income. They generally adjust upwards alongside inflation. Generally.
PS: The charts were awesome on both sides. It was a tough call, but I went with 🇨🇦. The burger, though! Stacy, you covered so many aspects, so many livelihoods and walks of life. One thing, though. Green chile. Add NM green chile. You’ll never want a burger without it, again. Justin, you barely beat that one.
PPS: I should not have left out other situations such as unemployment or alimony, etc. These are also situations that feel more precarious when inflation increases.
I chose Stacey's chart as it hits close to my heart (burgers once a month, like clockwork, and they have gone UP!) but I love Canadians too, and understand that they are angry, and rightly so, not just at Trump and his sycophants, but at all of us for doing so little to stop him.
Our best neighbor, our closest ally, and this is what we do? Every emergency, they've been here for us, and to let this monster destroy our relationship so quickly and for nothing is enraging.
I applaud our Canadian friends and neighbors for cutting us off completely. I hate it, but agree completely.
I like Stacey's chart a LOT. It tells a great story in color and pictures instead of text. BUT, I'm voting for Justin's chart for the following reasons: feelings are so important!! Great to see them counted up and turned into numbers. Stacey's chart is missing an important element. Why are there labor shortages? Because of mass deportation and drastic reduction in legal immigration. It misses part of the story it should be telling.
TY both.
It probably won't help but I spent my vacation money for the last 2 years in Canada and have been trying to buy Canadian here in the US as much as I can. I'm a little sad that they think so little of American voters when so many of us did NOT vote for this but I get it.
Loved loved loved the Bacon Chartburger and Stacey's comments. Economics reminds me a lot of medicine in that we tend to be reductionistic in our studies and data out of necessity, but the real challenge is to put the pieces back and try to figure out what happens with the whole which is often not the sum of the parts. Kudos, Stacey, on talking about the animal spirit factor.
Justin/Stacey: Three points!
1) Public school teachers in Texas have a pension - and few people have those nowadays - but that pension does NOT include cost of living increases. For teachers who retired in 2020 the gross monthly annuity check today is the same as it was six years ago; withholding and insurance premiums have caused small changes in net amounts. Every few years the legislature will have pity and pass a law that creates a one-off payment for teachers. Teachers have gotten one of those in the last six years, and it represented much less than one month's check, or a 1.3% boost over that time.
2) My take on the negative emotions about the economy, data notwithstanding, is that a significant number of people are worried about the future. Finding a new job is challenging, plus for many young people, they don't see many chances for improving their economic situation. It's not that their lives are actually getting worse, it's that they don't see that they will get better.
3) Stacey: When I saw your chart I was thunderstruck! Economics, international trade, foreign affairs, climate change, political policy!! If I were teaching I would download your chart and my kids on Monday would see that and we would have multiple lessons using it! Easily my favorite chart so far. BUT, nothing succeeds like excess! (Winston Churchill about the US in WWII?) Justin: your charts were an incredible deep dive into Canadian responses to becoming US Enemy No. 1! You are right: very little of the current "Operation Economic Outcast - Northern Exposure" is making it into our news down here, so people are largely oblivious. Thank you for the chart deck - I had to vote for it!
United States and Canada have fought each other both in kinetic warfare and in intense trade wars before. While the U.S. and Canada have been exceptionally close military allies for the last century, they fought directly during the era before Canada achieved full independence from Great Britain:
The War of 1812: This was the primary kinetic conflict. The United States launched multiple land invasions into Canadian territory (then British North America). Notable actions included American troops invading and burning down parts of York (modern-day Toronto). In response, British forces—including some units stationed in Canada—retaliated by marching on Washington D.C. and burning the White House. American Revolution (1775–1783): Early in the war, American Continental forces launched an invasion of Quebec. They successfully captured Montreal but were decisively defeated during the Battle of Quebec.Secret Contingency Plans (1920s–1930s): Though it never resulted in kinetic war, the U.S. military drafted a official blueprint which outlined a hypothetical invasion of Canada to seize its ports and industrial infrastructure in the event of a war with Great Britain.
The economic relationship between the two giants has faced major trade blockades throughout history, culminating in active, severe disputes.The McKinley Tariff (1890): The U.S. imposed punishing tariffs of up to 49% on Canadian goods to protect American markets and pressure Canada into economic reliance or annexation. The Smoot-Hawley Tariff (1930): The U.S. raised tariffs by 20%, prompting Canada and two dozen other nations to hit back with severe retaliatory tariffs, worsening the Great Depression. The Softwood Lumber Dispute ("The Lumber Wars"): Beginning in 1982, this became one of the longest-running trade disputes in modern history. The U.S. accused Canada of unfairly subsidizing its lumber industry (since Canadian timber is harvested primarily from government-owned "Crown lands"). This has triggered decades of cyclical tariffs, anti-dumping reviews, and legal challenges.
Abraham Lincoln quoted a Persian fable during a famous speech in 1859, praising the phrase "this too shall pass" for being "chastening in the hour of pride, and consoling in the depths of affliction. I suggest Lincoln's words are relevant today in this instance too.
Wow! Thanks for the history lesson. I didn’t know any of that, except maybe a teensy bit.
Yes economics are feelings especially when the worst man in the history of America is in charge of everything and many of the experts have been fired. Be careful what you wish for MAGA.
Part of the fixed income situation is:
1. The Medicare premium and associated coverage costs, which are deducted from the social security payments is growing by a higher rate than the cost of living adjustment is. And isn’t there also some “trick” the government is doing where they calculate the cost of living differently when deciding the annual adjustment (knowing full well that it’s a lower number?)
2. I know technically it’s wrong to think of social security and withdrawals from retirement savings as fixed income. The thing is, the not being employed is fixed, whether because of retirement or disability. The sense is that one has less ability to change one’s financial situation, e.g., change jobs, ask for a raise, change careers. Some could take those measures in the event of a personal financial crisis, but a lot couldn’t. So it’s an agency issue.
Plus, we don’t really want retired folks reentering the workforce, do we? They’d be taking jobs that others need. What about passing the torch? And don’t we already have too many older people holding onto their jobs, by which I mean, preventing the younger generations from having leadership positions?
3. Someone else mentioned that some pensions actually are fixed. No adjustments for anything. I’m not sure if all disability insurance policies are like this but I know someone who is receiving benefits from a disability policy. It’s a fixed amount. (And also, it expires at age 65.)
So, I get that “fixed income” is conflated or is technically not as prevalent. I think it’s being used to convey a circumstance that includes less agency to adjust to larger than expected changes in the economy. It’s anxiety on top of already being in a situation where one doesn’t and can’t know whether their savings will last as long as they do.
That being said, I appreciate the context that Justin pointed out. Social Security payments and personal savings/investments are not fixed income. They generally adjust upwards alongside inflation. Generally.
PS: The charts were awesome on both sides. It was a tough call, but I went with 🇨🇦. The burger, though! Stacy, you covered so many aspects, so many livelihoods and walks of life. One thing, though. Green chile. Add NM green chile. You’ll never want a burger without it, again. Justin, you barely beat that one.
PPS: I should not have left out other situations such as unemployment or alimony, etc. These are also situations that feel more precarious when inflation increases.