US Economy thread

[Uncle Rico]

larry ellison moving his oracle corporate headquarters from california to nashville...drip...drip...drip

Now that Bryce Drew is out of Nashville, the city is less dirty

[The Sultan]

larry ellison moving his oracle corporate headquarters from california to nashville...drip...drip...drip

Oracle's current headquarters are in Austin.

[MU82]

Facts ain't gonna stop roQQet!

But yeah ... drip drip drip ... at this rate, eventually (maybe), California will be the "country" with only the 6th largest GNP in the world.

[WellsstreetWanderer]

Employment numbers are skewed as it's the gubmint doing the hiring- 700,000 that make jobs picture rosy

[MU82]

They're always "skewed." They were "skewed" from 1/20/17 until the start of the pandemic, too.

[lawdog77]

Noncompetes basically unenforceable.
https://www.npr.org/2024/04/23/1246655366/ftc-bans-noncompete-agreements-lina-khan

[jesmu84]

Noncompetes basically unenforceable.
https://www.npr.org/2024/04/23/1246655366/ftc-bans-noncompete-agreements-lina-khan

I believe I saw this was only for for-profit companies

[tower912]

So, not Tesla or X?

[Hards Alumni]

Obviously a real good CEO, but he's all over the place with his economic declarations.

Consider that he just throws stuff against a wall just to see what sticks.

And when he's right or it aligns with your predetermined beliefs you hear about it... otherwise it's forgotten.

[Hards Alumni]

He's a full time prognosticator. People only remember when you're right.

HA bang on!

[dgies9156]

Now that Bryce Drew is out of Nashville, the city is less dirty

As a former Nashvillian who lived there in an earlier time, I'm utterly stunned at what's happening there. The region is such a different place than anything I remember from my days there. Heck, Catholics are even welcome now!

Nashville is what Charlotte was about 20 years ago, during the first wave of banking consolidations. Oracle ostensibly is moving to Nashville for health care, which is rather myopic since there are tons of other industries in the world besides healthcare. Given their history of California >> Texas >> Tennessee, one can only wonder what's next?

The big question is whether Nashville's growth is sustainable? The state and Metro governments would argue, certainly! But the problem is Nashville's transportation lines were built for a city that doesn't exist anymore. Mass transit is non-existent and WeGo is as big a joke as its name. Nashville's infrastructure isn't built for the city it is becoming and it's going to take billions to correct that, just as it did (in today's dollars) in the 1960s and 1970s. There's also the environmental considerations (not that environment matters in Middle Tennessee) but there's only so many mountains you can blow the top off of for housing without having serious long-term effects.

Perhaps I'm myopic but I just don't see who is going to fill all those buildings in the Gulch.

Ultimately, someone is going to wake up one morning and look around and say, "My God, what have we done?"

[TSmith34, Inc.]

Ultimately, someone is going to wake up one morning and look around and say, "My God, what have we done?"

Probably David Byrne

[tower912]

...same as it ever was...
...and the days go by...

[Hards Alumni]

...same as it ever was...
...and the days go by...

Letting the days go by! 

[rocket surgeon]

Employment numbers are skewed as it's the gubmint doing the hiring- 700,000 that make jobs picture rosy

and many of the new hires are illegals, doing the stuff that we don't wanna do I guess

[Uncle Rico]

and many of the new hires are illegals, doing the stuff that we don't wanna do I guess

They're dentists?

[tower912]

As it has been for a long time.

[rocket surgeon]

proposed capital gains tax to 44.5% would be an economy KILLER!! 

[Hards Alumni]

proposed capital gains tax to 44.5% would be an economy KILLER!!

Boy it sure would be awful if all of the Boomers had to pay their fair share and pay for the financial misery they've inflicted on younger generations.

Someone has to pay for all the tax breaks and deficit spending... I guess it'll just have to be the Democrats to balance the budget again.

[rocket surgeon]

Boy it sure would be awful if all of the Boomers had to pay their fair share and pay for the financial misery they've inflicted on younger generations.

Someone has to pay for all the tax breaks and deficit spending... I guess it'll just have to be the Democrats to balance the budget again.

tax it and you get less of it-this would put weekends already amazing economy into even more amazing territory...maybe even rival that peanut farmer guy who's economy is already legendary

"fair share"??  come on man!  if weekend and his boy wonder son pay on their international windfalls, then...maybe

[Uncle Rico]

tax it and you get less of it-this would put weekends already amazing economy into even more amazing territory...maybe even rival that peanut farmer guy who's economy is already legendary

"fair share"??  come on man!  if weekend and his boy wonder son pay on their international windfalls, then...maybe

7.5 out of 10

[MU82]

roQQet's histeria and love of Putin notwithstanding ...

I'd put the odds of a 44.5% capital-gains tax passing both houses of Congress at roughly 0.0000000445%.

[Hards Alumni]

tax it and you get less of it-this would put weekends already amazing economy into even more amazing territory...maybe even rival that peanut farmer guy who's economy is already legendary

"fair share"??  come on man!  if weekend and his boy wonder son pay on their international windfalls, then...maybe

You're going to need to make this make sense if you want any sort of response... but I'm guessing you don't.

[JWags85]

roQQet's histeria and love of Putin notwithstanding ...

I'd put the odds of a 44.5% capital-gains tax passing both houses of Congress at roughly 0.0000000445%.

Yea, the unrealized gains tax popping up again pretty much confirmed that.  Its just political posturing to curry favor for November.  Talking head fodder but nothing more.

[Skatastrophy]

proposed capital gains tax to 44.5% would be an economy KILLER!! 

This isn't the whole story. The plan is to raise the top cap gains ordinary rate to 39.6% (from 20%)

Then there's a proposed 44.6% rate that would apply to people that have income over $1,000,000/year. To earn over $1,000,000/year in capital gains, and to have a sustainable drawdown plan, you'd need to have ~$25,000,000 in investment holdings. Nobody on scoop has $25MM in assets or over $1,000,000 in income, so I think we're safe.

Source, if you'd like to read more - https://www.kiplinger.com/taxes/biden-calls-for-doubling-capital-gains-tax-rate