On his show Thursday night, The Daily Show host Jon Stewart mocked members of the Senate Banking Committee for going soft on JP Morgan Chase CEO Jamie Dimon after his firm lost at least $2 billion gambling on derivatives.
South Dakota Voters Express Increasing Confidence in their Personal Economic Situation
In a February survey, when Nielson Brothers Polling asked South Dakota registered voters about their personal economic situation, 41 percent responded that they are “more confident†than they were at this time last year. 29 percent are “less confident,†and 30 percent answer “about the same.†These answers show a significant rise in confidence compared to the December 2011 NBP survey in which 23 percent said “more confident,†while 49 percent said “less confident,†and 28 percent said “about the sameâ€.
When NBP asked for views on the national economy, respondents expressed a more modest increase in optimism. 57 percent of South Dakota voters describe the U.S. economy as “excellent†or “good,†compared with 54 percent in the December. More specifically, in the February NBP poll, 8 percent said the nation’s economy is “excellent,†49 percent said “good, 30 percent said “fairâ€, and 13 percent said “poor.†In the December 2011 NBP Survey, 12 percent said “excellent.†42 percent said “good,†26 percent said “fair,†and 20 percent said “poor.â€
Personally I still think we are in a strange holding pattern, and will be for awhile.
Maybe I don’t know WTF I am talking about, but am I the only one that thinks this is happening because prices continue to rise?
Despite an uncertain national economy, city officials say Sioux Falls’ economy continues to gain strength, evidenced in part by steady sales tax growth above 4 percent the past several months.
City sales tax receipts ended the third quarter up 4.6 percent over the same period a year ago. That makes six consecutive months with year-to-date growth above 4 percent, according to the most recent sales tax information.
“Month by month, we continue to see improvements in our economic indicators here locally,†City Finance Director Tracy Turbak said.
While it is very nice to see tax revenue is up, that small percentage is telling me it has to do with inflation. When the economy hit rock bottom last year, there was actually deflation, which resulted in revenue being down. You should always be at a positive, even when there is a recession due to increasing prices and costs.
Councilman Dean Karsky said he’s optimistic the momentum will continue through the end of the year, especially on the brink of the holiday shopping season.
Thanks Dean for that valuable information. Who knew? Is there anything you would like to share with us about the Easter Bunny?
Get used to it. I have always contended that the rich in SD are using the recession to pay less in wages while lining their pockets. They say the economy is doing good when they want you to buy their goods and services but when you ask for a raise, they say it is going poorly. Just look at the numbers;
South Dakota’s per capita personal income grew by 3.5 percent from 2009 to 2010, according to data recently released by the Bureau of Economic Analysis.
Sounds great right? But look at these numbers;
For example, Nesiba said, median household income in South Dakota has dropped 11.5 percent from 2008 to 2010, according to U.S. Census Bureau figures.
Basically the working stiffs are taking it in the shorts and the rich taking your shorts.
That’s a change from $51,600 in 2008 to $45,669 last year, Nesiba said.
“Even if the average per capita income in South Dakota is going up, those gains must be concentrated at the top,” he said. “What we’re seeing is that South Dakota per capita personal income is being boosted by higher farm incomes, but because of layoffs, lower wages and fewer hours, the median household income is actually falling.”
from the SD Peace and Justice Center:
The poverty rate in the United States is at 15.1%, according to the U.S. Census Bureau’s annual Income, Poverty, and Health Insurance Coverage report. Â This means that 46.2 million people in the United States are in poverty, the largest number since the government began tracking poverty in the 1950s. Â In addition, the poverty rate for children is 22% and has only been higher three times since the mid-1960s. Â 49.9 million individuals in the U.S. lack health insurance. Â Senator Bernie Sanders wrote a very interesting opinion piece on the subject, and mentions the fact that the top 1% of Americans earn more than the bottom 50%.
The Argue Endorser also did an extensive story about poverty and the economy in South Dakota;
Figures released Tuesday show that 13.7 percent of South Dakotans are living below the federal poverty level. That puts the state marginally below national poverty levels of 14.2 percent but above neighboring states of Iowa, Minnesota, North Dakota and Nebraska.
When over 10% of your population is living in poverty, you have to scratch your head a bit and wonder how long this recession is going to last. South Dakotans have always been known to be modest when it comes to income, and these numbers show that it only takes a little down tick to go from lower middle-class to flat out broke real quick. As MC from Dakota War College commented the other day on this site:
I find it odd….
The county is building a homeless shelter,
The city is building an events center.
Yeah, what ironic times we live in? Huh?
l3wis 