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April 2012 final
- 1. Economic Indicators: An Update for the 7 Rivers Region
- 3. What would you say worries you most about the national economy at this time?
- 4. 7 Rivers Consumer Sentiment 110 100 7 Rivers 90 80 70 60 National 50 40 April 2002 April 2004 April 2007*** February April 2011*** 2009*** *** Survey moves to web
- 5. Case-Shiller Index of Home Prices 240.0 220.0 200.0 180.0 160.0 7 Rivers Region 140.0 Minneapolis 120.0 100.0 Phoenix 80.0 Jan-98 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08 Jan-10 Jan-12
- 6. Average Price of Single Family $175,000 Homes Sold in 7 Rivers Region $150,000 $125,000 $100,000 $75,000 1997- 1999- 2001- 2003- 2005- 2007- 2009- 2011- Jan Jan Jan Jan Jan Jan Jan Jan
- 7. Average Number of Days on 160 Market 7 Rivers Region 140 120 100 80 60 40 1997-Jan 2000-Jan 2003-Jan 2006-Jan 2009-Jan 2012-Jan
- 8. Foreclosures Filed in 7 Rivers Region 1,000.0 900.0 800.0 700.0 600.0 500.0 400.0 300.0 200.0 100.0 - 1990 1993 1996 1999 2002 2005 2008 2011
- 9. La Crosse Foreclosures Filed 300.0 250.0 200.0 150.0 100.0 50.0 - 1990 1993 1996 1999 2002 2005 2008 2011
- 11. Number of Building Permits in La Crosse MSA 80.0 70.0 60.0 Total Permits 50.0 40.0 30.0 20.0 Single Unit Permits 10.0 0.0 Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09 Jan-11
- 12. Employment Cumulative Decline 8 from NBER Peak (pct) 1990 6 4 2001 2 0 -2 2007 -4 -6 -8 1 13 25 37 49 61
- 13. 12.00 Unemployment Rate by Duration 10.00 8.00 >26 Weeks 6.00 4.00 5 to 14 Weeks 2.00 15-26 Weeks 0.00 < 5 Weeks Source: BLS
- 14. 100% Percent of unemployed < 5 Weeks 75% 50% 5 to 14 Weeks 25% 15 to 26 Weeks > 26 Weeks 0% Jan-80 Jan-84 Jan-88 Jan-92 Jan-96 Jan-00 Jan-04 Jan-08 Jan-12 Source: BLS
- 15. 1 Cumulative Decline in Wisconsin Employment 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 -1 -2 2001 1980 -3 2007 -4 -5 -6 -7 -8
- 16. The Walker Promise: 250,000 Jobs 3050.0 Wisconsin Non-Farm Employment: Thousands 3000.0 2950.0 2900.0 2850.0 2800.0 2750.0 2700.0 2650.0 2600.0 2550.0 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08 Jan-10 Jan-12 Jan-14 Source: BLS, http://goo.gl/lE69o
- 17. 2950.0 The Dayton Promise: 240,000 Jobs Minnesota Non-Farm Employment: Thousands 2900.0 2850.0 2800.0 2750.0 2700.0 2650.0 2600.0 2550.0 2500.0 2450.0 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08 Jan-10 Jan-12 Jan-14 Source: BLS, http://goo.gl/lE69o
- 18. -6 -4 -2 0 2 4 6 8 Total Construction MN Manufacturing WI Trade, Trans., Util. Finance Prof. and Bus. Services Educ. And Health Leisure and Hospitality Government Change in State Employment by Industry
- 19. 7 Rivers Employment: SA 190.0 Thousands 180.0 170.0 160.0 150.0 140.0 Jan-91 Jan-94 Jan-97 Jan-00 Jan-03 Jan-06 Jan-09 Jan-12
- 20. La Crosse County 1,100.0 Sales Tax Revenue Thousands 1,000.0 900.0 800.0 700.0 600.0 500.0 Jan-07 Jan-09 Jan-11
- 21. Rising Income Inequality Taggert J. Brooks, PhD Chair and Associate Professor of Economics University of Wisconsin-La Crosse
- 22. Non-Standard Disclaimer: I am an academic economist. My income is above the median for the US and this region, but below the median in this room. Its all relative, and sometimes that matters for our perspectives. It matters for monkeys too.
- 25. Most rich people are rich because... they know the right people or were born into wealthy families of their own hard work, ambition, or education. 7 Rivers Region other National - 10 20 30 40 50 60
- 26. Louis D. Brandeis “We may have democracy, or we may have wealth concentrated in the hands of a few, but we cannot have both.”
- 27. Top 1% of Income Earners Share of Total Income – U.S. 20.0 15.0 10.0 5.0 - 1913 1937 1961 1985 2009
- 30. The Market
- 31. Consumers
- 33. Top 1% of Income Earners Share of Total Income – U.K. 20.0 15.0 10.0 5.0 - 1913 1933 1953 1973 1993
- 34. Top 1% of Income Earners Share of Total Income - Sweden 20.0 15.0 10.0 5.0 - 1919 1949 1979 2009
- 36. Gini Coefficient 0 1 More Equal
- 38. Gini Coefficient For Countries Namibia .707 Mexico .517 US .450 China .415 UK .340 Sweden .230
- 39. Gini Coefficient For Pro Salaries Baseball .626 Golf .566 Basketball .528 Football .512 Hockey .458
- 40. Frank and Cook “Winner-take-all markets have proliferated in part because technology has greatly extended the power and reach of the planet's most gifted performers....Now that most music we listen to is prerecorded...the world's best
- 42. Top 1% of Income Earners Share of Total Income - Sweden 20.0 15.0 10.0 5.0 - 1919 1949 1979 2009
- 44. Rick Warren “Well certainly the Bible says we are to care about the poor....But there's a fundamental question on the meaning of "fairness." Does fairness mean everybody makes the same amount of money? Or does fairness mean everybody gets the opportunity
- 45. Rick Warren “When you subsidize people, you create the dependency. You — you rob them of dignity.”
- 46. Means-Tested Transfers AFDC/TANF (Temporary Assistance to Needy Families) CTC (child tax credit) EITC (earned income tax credit) Medicaid SSI (Supplemental Security Income), WIC (The Special Supplemental Nutrition Program for Women, Infants, and Children) Food Stamps, General Assistance, Housing Assistance, Free and Reduced Lunches
- 47. Social Insurance Transfers SSDI (disability insurance), Medicare, Social Security Retirement, UI (unemployment insurance), Veterans Benefits, WC (workers compensation)
- 48. Transfers to All Medicare Social Security Retirement
- 49. Felix Frankfurter “It is a wise man who said that there is no greater inequality than the equal treatment of unequals.”
- 50. Little Things Can Matter Admission Policy and College Selectivity. Early Childhood Interventions
- 51. Nudge
- 52. Explanations for Rising Inequality Skill Biased Technological Innovation Education Inequality “Globalization” Economics of Superstars Immigration “Coming Apart” Household Formation Falling Unionization (Males) Falling Real Minimum Wage (Females)
- 53. 0 400 800 1,200 1,600 2,000 Doctoral degree Professional degree Master's degree Bachelor's degree Associate degree Some college, no degree High-school graduate Less than a high school diploma 2010 Median Weekly Earnings by Degree
- 55. Solutions Improve Transfers to Poor Tax “Winner-take-all” markets to reduce income variance. “Brandeis Tax” Improve Education Expand Early Childhood Interventions Extend the School day/year
- 62. Thanks.
Notes de l'éditeur
- Press F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/multiple_choice_polls/LTIxMzA5OTI2OTYIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- http://www.zillow.com/blog/research/2012/03/12/newly-released-zillow-rent-index-shows-rental-markets-heating-up-nationwide-but-home-values-continue-to-decline/
- 66K behind
- 10 K behind
- Whenever red bars are to the left of the blue bars WI has lost more than MNFEB ’11 to FEB ‘12
- Note: Lacrosse County recognizes Sales Tax Revenue in the Month it was earned not in the Month the State distributes it.
- 12:00 Minutes.http://youtu.be/le-74R9C6Bc?t=11m56s
- Press F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/multiple_choice_polls/MTY3MDc5OTMwNAIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- Among tax filers this means AGI of $343,947 to crack the top 1, the top 5% is $159,643 and $112,124 for top 10. http://www.taxfoundation.org/news/show/250.html
- Press F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/free_text_polls/LTg3NjQ4ODU0MAIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- Consumers ultimately value the labor supplied, through their demand for output.
- It is not a US only phenomenon.Australia, Canada, the United Kingdom, and the United States
- It is also not a universal phenomenon France,Germany, the Netherlands, and Sweden
- It is also not a universal phonomenon
- Lane Kenworthy
- Sharpen the policy tools.
- Programs are AFDC/TANF (Temporary Assistance to Needy Families), CTC (child tax credit), DI (disability insurance), EITC (earned income tax credit), Food Stamps, Foster Family, General Assistance, Housing Assistance, Medicaid, Medicare, Other Welfare, Social Security, SSI (Supplemental Security Income), UI (unemployment insurance), Veterans Benefits, WC (workers compensation), and WIC (The Special Supplemental Nutrition Program for Women, Infants, and Children).Social SecurityMedicareSSIUIRailroad Employees AFDCChild CareTitle XX Social Services Block GrantChild ProtectionSocial Welfare in the TerritoriesPension Benefit Guaranty Corp.Food StampsMedicaidS-CHIPHousing AssistanceSchool Lunch and BreakfastsWIC for familiesChild and Adult Care Workforce Investment ActHead StartLI-HEAP
- Programs are AFDC/TANF (Temporary Assistance to Needy Families), CTC (child tax credit), DI (disability insurance), EITC (earned income tax credit), Food Stamps, Foster Family, General Assistance, Housing Assistance, Medicaid, Medicare, Other Welfare, Social Security, SSI (Supplemental Security Income), UI (unemployment insurance), Veterans Benefits, WC (workers compensation), and WIC (The Special Supplemental Nutrition Program for Women, Infants, and Children).Social SecurityMedicareSSIUIRailroad Employees AFDCChild CareTitle XX Social Services Block GrantChild ProtectionSocial Welfare in the TerritoriesPension Benefit Guaranty Corp.Food StampsMedicaidS-CHIPHousing AssistanceSchool Lunch and BreakfastsWIC for familiesChild and Adult Care Workforce Investment ActHead StartLI-HEAP
- Rising Life expectancy has meant transfers to all have increased but there effectiveness for poverty reduction has not worked.
- One of the founders of the ACLU.
- In October new British legislation will change the default option for corporate pension plans, so that employees are automatically enrolled unless they actively choose to opt out. The hope is that this will significantly increase retirement saving. Mr Obama has proposed something similar for America’s 401(k) retirement schemes, although this idea has gained little traction.
- http://pages.stern.nyu.edu/~tphilipp/papers/pr_rev15.pdf
- We are in the top 70% for income EQUALITY.
- 185% of FPL
- SouthsideBlues are under 100KBrowns 100-200KRed >200K
- Blow up of southsideBlues are under 100KBrowns 100-200KRed >200K
- NorthsideBlues are under 100KBrowns 100-200KRed >200K
- Press F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/free_text_polls/OTIyMDA0Mjk4If you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.