Bad New York Times tweet on GDP increase

The GDP increase was higher than predicted but you wouldn’t know it from the Times. https://t.co/FsVb7z9a3p
— Harris Levy (@HarrisL585) October 27, 2022

more positive comments on the GDP increase:

U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive https://t.co/UnMkNVD6hn
— CNBC (@CNBC) October 27, 2022

A nice GDP report: The headline is 2.6% with consumers remaining strong (+1.4%).

But it also shows moderation in key respects that should reduce some overheating, specifically nominal GDP growth slowed to 6.7% and the Fed is successfully cooling investment, especially housing. pic.twitter.com/a1PlBAmcjv
— Jason Furman (@jasonfurman) October 27, 2022

Here is today's Real GDP number against the CBO prepandemic projections from January 2020.

I still believe this recovery to trend is a remarkable achievement that is worth defending. pic.twitter.com/GWWxk1isRd
— Mike Konczal (@rortybomb) October 27, 2022

Pathetic CNBC column takes the side of companies that evade taxes

Don't say "hit them hardest". Say "make them pay their share of taxes". Your article states "The researchers found that the 15% minimum would have taken a total of $31.8 billion from 78 firms in 2021." It's not taking money – it's making them do what they should be doing.
— Harris Levy (@HarrisL585) September 25, 2022

In support of tipping

It took a long time until I understood that servers got a very low salary and made most of their money from tips.

I have tipped delivery drivers well, especially during the pandemic. They were taking a real risk dealing with people before there were vaccines,

That extra dollar or two in the tip jar isn’t going to break my budget or yours. But your gratuity — even for carryout — can make the difference in someone taking home enough money to put enough food on their table. https://t.co/GRnKSOtblU
— Michelle Singletary (@SingletaryM) September 17, 2022

Wall Street is investing in music

They’re buying up the catalogs of geezer musicians from my day. I don’t like the idea of big companies owning music but it’s hard to blame the artists for cashing in.

But in an era of soaring inflation and rising interest rates, the nascent asset class faces its first real test.

Read more about how Wall Street stormed the music business👇https://t.co/VzTJMY7qVi
— Financial Times (@FinancialTimes) September 13, 2022

Bob Dylan's Catalog Sale: 4 Takeaways https://t.co/a8sQOsLu1g
— Rolling Stone (@RollingStone) December 7, 2020

Paul Simon has sold his entire songwriting catalog — including classics like “Bridge Over Troubled Water” and “The Sound of Silence” — to Sony Music Publishing, in the latest blockbuster transaction in the music publishing business. https://t.co/nkgABHLaWO
— The New York Times (@nytimes) April 1, 2021

Stevie Nicks closed a deal to sell a majority stake in her publishing catalog last month

“Edge of Seventeen,” “Rhiannon” & “Landslide,” are part of the deal

Primary Wave purchased an 80% interest in the copyrights, which are valued at about $100 millionhttps://t.co/axpfK86cZJ
— Yashar Ali 🐘 (@yashar) December 4, 2020

Prince's estate is now majority-owned by Primary Wave, the company that acquired Stevie Nicks' music catalog last year https://t.co/dp5UO3DDTf
— Rolling Stone (@RollingStone) July 30, 2021

More on greedy oil company profits

The world’s largest oil companies are generating record profits, and they’re using a big part of the windfall to buy back their own shares. The five biggest public oil companies spent more than $20 billion on buybacks in the first half of this year. https://t.co/201tqMMUOr
— The New York Times (@nytimes) July 29, 2022

Chevron stock surges as profit more than triples and blows past expectations, as oil prices jump https://t.co/lK3u83NdE0
— MarketWatch (@MarketWatch) July 29, 2022

Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasoline, food and other basic necessities. https://t.co/b5njRIEsDL
— The Associated Press (@AP) July 29, 2022

Exxon, Chevron, and Shell, the three largest Western oil companies, banked a record $46 billion in collective profits in the second quarter, fueled by the highest energy prices in over a decade and lucrative oil-refining margins. – WSJ https://t.co/eQ8jw2SIRe
— andrew kaczynski (@KFILE) July 29, 2022

ExxonMobil's net income came to $2,245.62 every second of every day of the 92-day long quarter. On that basis, Chevron earned $1,462.11 per second. https://t.co/qolQQsCu63
— CNN (@CNN) July 29, 2022

Oil giants have made huge profits this year as prices and demand have soared. https://t.co/LBxV0UfGPv
— Axios (@axios) August 16, 2022

Record oil company profits

At least part of the high gas prices is due to corporate greed

Exxon Mobil and Chevron, the two largest U.S. energy companies, reported record quarterly profits following the spike in oil and gas prices caused mainly by Russia’s invasion of Ukraine. https://t.co/3NoTvu8mfj
— The New York Times (@nytimes) July 29, 2022

Shell has posted record profits for a second straight quarter as the company continues to benefit from the soaring price of oil and gas.https://t.co/vv9ZSQnyQt
— Yahoo News (@YahooNews) July 28, 2022

The richest places in the US

An interesting thing about trying to do living standard comparisons is that the richest places in the United States are relatively cold, and the revealed preference is to move to warm states instead. pic.twitter.com/BsAiKheoUq
— Matthew Yglesias (@mattyglesias) July 4, 2022

Biden is just talk about gas prices by blaming companies

This is entirely correct. It's talk with no action. It's similar to Biden now saying he would support bypassing the filibuster to enact abortion rights. It's not realistic so it's just talk. https://t.co/xJtsa2b9NK
— Harris Levy (@HarrisL585) July 3, 2022

CEO pay is outrageous

The chief executives of S&P 500 companies made 324 times more than the median-paid worker last year.

Though some executives said worker wages were partly to blame for rising prices, workers’ real wages fell 2.4% last year. https://t.co/onlOGPt2Fc
— MarketWatch (@MarketWatch) July 21, 2022

Compared to the typical worker’s pay, CEOs were paid 399 times more in 2021, which is the highest ratio on record. In 1965, CEOs only made 20 times of what the average worker made.https://t.co/EdvEJZMc6Y
— MarketWatch (@MarketWatch) October 5, 2022

A new report finds the gap between executive and worker pay is only wideninghttps://t.co/dpYKBMn7z1
— CNN (@CNN) June 7, 2022

Corporations wouldn't be earning record profits if they were just raising prices to pass along costs. Wall Street is price gouging families—and making off with its fattest profit margins in 70+ years. pic.twitter.com/sGPD1cF1Of
— Rep. Katie Porter (@RepKatiePorter) June 6, 2022

The pay gap between male vs female early-stage CEOs:
2019: $5,000
2022: $20,000
After an early pandemic hit, the avg. female startup CEO salary hasn't returned to where it was in Q4 2019. Male salaries are up an average of $10k, per @KruzeConsulting datahttps://t.co/QAan5QkvLI pic.twitter.com/3XqpdnQ0Va
— Biz Carson (@bizcarson) June 5, 2022

Seven US corporations last year paid their chief execs over 2,000 times the pay of their most typical workers. In 1965, US CEOs averaged 21 times annual worker pay. https://t.co/tUhSPIw1OR
— Too Much (@Too_Much_Online) June 3, 2022

The CEO Salary Gap at Some of the Largest U.S. Companies Continues to Widen & Median Worker Pay Lags Behind Inflationon. A New Report Offers Some Solutions | Wage Gap Between CEOs and US Workers Jumped to 670-to-1 Last Year, Study Finds | The Guardian https://t.co/XR2zRwjMvu pic.twitter.com/aDIjKdQPDC
— Karen-Kay Harrison (@K4Kats) June 7, 2022

High inflation is not just in the US

Many are quick to blame Biden but look at other countries.

But consider:
-OECD (38 member countries): 8.8% headline inflation, 5.9% core
-UK: 9% headline inflation (40-year high), 6.2% corehttps://t.co/ZLJQhe15PR
— GeneSperling46 (@GeneSperling46) June 1, 2022

Average #inflation in #OECD countries:

9.2%!

👀

ht @pitres pic.twitter.com/PXJeaFmfEH
— jeroen blokland (@jsblokland) June 5, 2022

I’ve wasted my life https://t.co/JqBYrgPLby
— Kai Ryssdal (@kairyssdal) June 2, 2022

https://twitter.com/imillhiser/status/1528840131121229829?s=20&t=1GPe0-Pe2TGgbXa5XbeSdg

Must've been all them stimulus checks from Biden that done it https://t.co/G6DqbAYL7E
— Adam Weinstein (@AdamWeinstein) June 1, 2022

Headline US & Euro area inflation rates have converged.

But, the underlying dynamics of the inflation in the 2 economies is different. More painful in Europe. More persistent in the US.

Calls for different policy responses.

My latest @wsjopinion https://t.co/u3v9M4PcyD pic.twitter.com/MoF6cpIA1T
— Jason Furman (@jasonfurman) June 7, 2022

Soaring inflation is a truly global phenomenon, with the U.S. near the middle of the pack, according to an analysis of 111 countries. https://t.co/3Ji2Pgcolh
— Axios (@axios) June 13, 2022