Discover and read the best of Twitter Threads about #spending

Today’s #JobsReport revealed an #economy that is producing #jobs at a slower pace than it has over the prior several months.

That said, a historic number of jobs have been created in this recovery since the fall of 2020, so a slowing in the pace of #growth isn’t unexpected.

Even with today’s somewhat slower rate of #hiring at 315,000 jobs for the month of August, the 3-month and 6-month average of #payroll gains has been 378,000 and 381,000 jobs, respectively, which is clearly indicative of slowing today from a point of strength.

Read 12 tweets

ChainLogAnalyst - The more #Bitcoin goal

As we approach the @federalreserve’s monetary policy conference at #JacksonHole this week, a question we’ve been asking ourselves is whether the abundance of survey-based, and goods-oriented, #economic data may be overstating the weakness in the #economy as a whole?

Without question, many broad-based surveys, including those focused on #ConsumerConfidence and small #business optimism, are painting a very bleak picture of the #economic trajectory.

And at the same time, many goods/manufacturing sector data points are portending continued significant weakening of the sector.

Read 12 tweets

Tax Foundation

@TaxFoundation

The Inflation Reduction Act includes a 15 percent corporate minimum tax, drug price controls, IRS tax enforcement, and a tax hike on carried interest to pay for increased spending on energy and health insurance subsidies as well as deficit reduction.

[THREAD]

The on-again-off-again negotiations over the proposed #BuildBackBetter tax increases on corporations and high-income earners appears to be… on again.

Sen. Joe Manchin (D-WV) is now expressing support for something called the #InflationReductionAct. (2/9)

Next week, the Senate is scheduled to begin voting on a reconciliation bill that may put all of the #BuildBackBetter tax and spending increases on the table. (3/9)

Read 9 tweets

@ChainLogAnalyst

Every now and then I will make a #thread 🧵 of #threads 🧵 to keep you all updated on the #alpha I shared across time on #Twitter.

Today is the day. I don't know how long this will be.

Let's start with the previous threads🧵of threads🧵

May 25th 2022 #Thread 🧵 of #Threads 🧵

https://twitter.com/ChainLogAnalyst/status/1529474485769887750?s=20&t=CduK-7SXFkscgsHb4g90TA

June 3rd 2022 #Thread 🧵of #Threads 🧵

https://twitter.com/ChainLogAnalyst/status/1532822817137471491?s=20&t=KDv5eujShXrSrhOLUC8WfA

Read 18 tweets

While there is still considerable uncertainty over the forecast for #inflation, we think both Core #CPI and #PCE inflation peaked in March and February, respectively, and should move appreciably lower by the end of 2022.

Throughout the pandemic, strong disposable #income and limited services spending fueled consumer #spending on goods and high goods volumes created #bottlenecks and extreme #inflation.

Eventually, excessively easy #MonetaryPolicy caused this robust #inflation to broaden into less disrupted categories.

Read 6 tweets

OUTA

@OUTASA

This week all eyes will be on #Budget2022. #OUTA compiled some #tips for the Minister of Finance & @TreasuryRSA which we sent to them about 2 weeks ago. Here's our list:

#Budget2022 priorities
OUTA wants to see these as top priorities in Budget 2022:
#Funding to decisively combat & PROSECUTE #corruption.
Concrete ACTION to promote #economicgrowth & address #unemployment.
@TreasuryRSA

#Budget2022 Fund the #WarAgainstCorruption
Ensure ample funding for prosecuting state capture, corruption and tax evasion, for @sarstax @RSASIU Hawks & @NPA_Prosecutes.
Ensure support for whistleblowers.
Fund new oversight bodies as recommended by @StateCaptureCom.
@TreasuryRSA

Read 12 tweets

Atul Anand ⚡

@AtulACleaver

Have you ever found yourself missing credit card debts, or losing money on subscriptions you made a year ago?

Reason: Your finances are not organized 💸

Let's fix it 🧵 👇

⚠️ Caution: Not trying to give you any financial advice.

Showing you how my Smart Finance Tracker @NotionHQ template solves the most common financial mistakes most people do.

Know more about the template 👇

atulanand.co/finance-tracker

You need to get mindful of your finances. The most common mistakes people do are:-

- Going Without a Plan (Budget)

- Not clearing your debts first

- Never trying to invest

- Not tracking your subscriptions

- Not Reflecting on your transactions

Read 10 tweets

Jean Boivin

@Jean_Boivin

Today’s personal income and consumer spending data for June reaffirm our view that the reopening continues to drive a powerful #restart — and there’s still room to run. 1/4

In the #services sector, particularly #leisure and #hospitality — which bore the brunt of lockdowns and restrictions — the #spending splurge continues as consumers make up for lost time. But spending is still a little more than 3% below its pre-pandemic level in real terms. 2/4

On top, consumers still have a large war chest of accumulated #savings, a good share of which we expect to be deployed over coming quarters, further strengthening the restart. 3/4

National Institute of Economic and Social Research

Kamiar Mohaddes

@KamiarMohaddes

Super excited to see our paper on #Covid19 #Fiscal Support and its Effectiveness, with Alexander Chudik @DallasFed & @mraissi80 @IMFNews, out in Economics Letters. You can read it (free access) from here: authors.elsevier.com/c/1dDlMbZedt0om #TGVAR 1/n

With new variants/waves & reimposition of restrictions in some regions, governments around the world are calling for a careful assessment of the effectiveness of the adopted #Covid19 #fiscal measures before they embark on further easing or tailoring of measures 2/n

The #Covid19 pandemic led to a sharp tightening of global #financial conditions at the acute phase of the crisis and has inflicted large economic losses across the world (see Figure below) ... 3/n

Read 28 tweets

@NIESRorg

🚨*𝐍𝐈𝐄𝐒𝐑 𝐁𝐮𝐝𝐠𝐞𝐭 𝟐𝟎𝟐𝟏 𝐂𝐡𝐚𝐫𝐭𝐩𝐚𝐜𝐤* 🚨

All you need to know ahead of next week's #Budget in one... THREAD 👇

1/19
#CovidEconomics
#BudgetSpeech2021
#EconTwitter

The #Budget2021 comes at a critical time when the UK is in the middle of battling the #pandemic and the economy is substantially weakened with uneven effects at industry, household & region level.

Read the economic context to #Budget2021 here 👇

2/19
niesr.ac.uk/publications/u…

We project the UK economy to contract again in 2021Q1 due to the second wave and the winter #lockdown as well as the effects of post-#Brexit adjustment, bringing #GDP to some 11% below pre-#pandemic levels

3/19

Read 19 tweets

China Finance 40 Forum (CF40)

@ChinaFinance40

Xiao Gang says during 14th 5-Year Plan, China needs to carefully manage 5 relationships: that between inheritance & innovation, between the market & the government, between opening-up & independence, between development & safety, and between development strategies & tactics. 1/8

The Chinese government newly proposed that supply-side structural reforms should remain as the emphasis of efforts, while demand-side management also deserve due attention. 2/8

Xiao believes that to promote the new development pattern of #dualcirculation, the key is to balance the upgrade of the supply side and the expansion of consumer demands. 3/8

Read 8 tweets

Will Richardson🏴󠁧󠁢󠁥󠁮󠁧󠁿🇳🇴 🏴󠁧󠁢he/him/his

@Will6And7Ric

@HMRCgovuk

How #government #spending #works
legislation.gov.uk/ukpga/Vict/29-…

"Nice 1866 legislation mention here:

"Neil Wilson

Thursday, November 26, 2020 at 18:26

“They should tell the British people how the Treasury actually spends – that is, that it instructs the Bank of England to type numbers into bank accounts on its behalf”
Specifically...

under the authority of section 15 of the Exchequer and Audit Departments Act 1866 legislation.gov.uk/ukpga/Vict/29-…
(There’s also section 13 which authorises “Standing Services” – which would likely be the legal source of Job Guarantee wage payments).
“(1) This section applies in respect..

Read 7 tweets

Cambridge Econometrics

@CambridgeEcon

New analysis for the We Mean Business coalition🌿green recovery plans boost 💷income👩‍🔧employment and 📈GDP *better than return-to-normal stimulus measures* with the added benefit of reducing carbon emissions (1/5) #greenrecovery #buildbackbetter
bit.ly/3kbiewr

In all geographies modelled (global, the EU, Germany, Poland, the UK, USA and India), green recovery plans were found to be more effective than return to normal stimulus approaches that reduce #VAT rates and encourage households to resume #spending (2/5)

The green recovery plans modelled are 5-point plans and include a smaller VAT reduction plus:
Public investment in #energyefficiency and electricity grid upgrades
Subsidies for #wind + #solar
Car scrappage schemes (subsidies only provided to #EVs) Tree planting programmes (3/5)

Read 5 tweets

GAVNet

@GAValueNetwork

Daily Bookmarks to GAVNet 09/25/2020 greeneracresvaluenetwork.wordpress.com/2020/09/25/dai…

The lasting misery of coronavirus long-haulers

nature.com/articles/d4158…

#COVID19 #misery

Studying gene function in animal models

phys.org/news/2020-09-g…

#gene #function

Read 9 tweets

GAVNet

@GAValueNetwork

Daily Bookmarks to GAVNet 7/01/2020-2

greeneracresvaluenetwork.wordpress.com/2020/07/01/dai…

CRISPR gene editing in human embryos wreaks chromosomal mayhem

nature.com/articles/d4158…
#human #editing #mayhem #CRISPR #gene

Distributed consent and its impact on privacy and observability in social networks

arxiv.org/abs/2006.16140

#distributed #networks #SocialNetworks

Irving Wladawsky-Berger: How Will Covid-19 Transform Urban Life?

blog.irvingwb.com/blog/2020/06/t…

#urban #coronavirus #cities #change

Read 5 tweets

China Finance 40 Forum (CF40)

@ChinaFinance40

The #COVID19 resurgence has curbed China's economic recovery. According to Zhang Bin and Zhu He, except for the containment measures and deteriorated market expectations, a major factor repressing China's recovery remains insufficient #demands, both domestic and external.

The external environment and changes in the balance sheets of various domestic sectors indicate that consumer #spending may slowly pick up, but #exports will continue to be strained;

business #investments are expected to stay sluggish, while infrastructure investments and real estate investments are beginning to improve. However, whether the improvements will be sustainable still depends on future policies.

Read 5 tweets

China Finance 40 Forum (CF40)

@ChinaFinance40

#China’s economic recovery from #COVID19 could be slow and full of uncertainties, with big structural changes, for 2 reasons:given the global economic standstill, export will find it much harder to pick up than before; fixed asset #investment will be less intensified than before.

But the crisis will give the Chinese economy new highlights.
1. Consumer #spending may become a major driver for growth; 2. #digitaleconomy has played a huge role in dealing with the blows, and with the development of new infrastructures, digital economy will reach a new height.

The crisis is very likely to bring about structural changes in the global economic landscape, and the risks associated with those changes worth attention from all businesses and market players.

Harsh Upadhyay

@upadhyay_harsh1

CRED insights on category wise credit card spending trend in three major cities - Bengaluru, Mumbai and Delhi - during lockdown.
#essentialservices #medical #grocery
#subscription #spending

Credit card spending dropped by 10% when the lockdown was announced in March and went down even further by 51% April-onwards. Subscription spends in Delhi saw a rise of 18%, Bangalore by 11% and Mumbai by 8%.

💳 Credit card spending [March]
🛵Online grocery ⬆️
▪️Bengaluru 44% ▪️Delhi 38%
▪️Mumbai 29%

🍱 Food ordering ⬇️
▪️Delhi 26%,▪️Mum 24%
▪️Bengaluru 22%

🍜 Dining out ⬇️
▪️Delhi 40%▪️ Mum 42%
▪️Bengaluru 48%

📽️ Entertainment ⬇️
▪️ Delhi by 63%▪️ Mum 67%
▪️Bengaluru by 69%

The March #JobsReport only scratched the surface of what was unfolding, but the month of April displayed the catastrophic reality of significant #economic shutdowns across most states.

Indeed, nonfarm payroll #employment plummeted by -20.5 million in April, the #unemployment rate vaulted three-fold, to 14.75%, and while #job losses were widespread, leisure and hospitality was hit particularly hard.

In contrast, the information #technology sector suffered much fewer job losses, at least partly because the sector has #invested for growth for years, has witnessed greater levels of consumer #spending and has benefited from a dramatic rise in #online purchasing.