• U.S. nonfarm productivity is a measure of economic activity within the engine of the U.S. economy.  The U.S. productivity rate is a measure of how much value is produced by the economy through demand for the products and services, and the labor associated with the creation of those products and services.
  •  If you are making 10 loaves of bread, there is a set amount of cost associated with each loaf created.  The total cost of each loaf is the total cost to produce the entire batch divided by ten. However, if you have customers demanding 15 loaves of bread, you make more profit on the last five because it doesn’t cost 50% more in material or labor to make 50% more loaves.
  • Your productivity in the last five loaves is higher because the fixed costs of production (raw materials, energy) barely change, and the labor is only slightly higher.  The opposite is also true.  It costs more per loaf to make fewer than ten loaves because the fixed costs and your labor are pretty consistent, yet the finished value of 7 loaves is less than the finished value of ten.
  • The value of all products and services generated increased by 1.8 percent.  However, the labor cost of generating that small amount of added value increased by 7.4 percent.  The difference between those two numbers is a drop in productivity of 5.2% over the entire quarter.
  • This is the largest quarterly drop in productivity since 1960 !

Source: theconservativetreehouse.com

Poll: 76% of Adults Say Biden’s Coronavirus Child Tax Credit Program ‘Did Not Help at All’ 
  • Seventy-six percent of American adults said President Joe Biden’s coronavirus child tax credit program “did not help at all,” a Thursday NPR/Marist poll revealed.
  • While Biden touted the child tax credit program as the “largest … and historic relief to the most working families ever,” the vast majority of Americans disagreed. Only four percent of adults believe the tax credit helped them a lot, and just sixteen percent said it helped them a little.
  • The tax credit was passed in Biden’s $1.8 trillion coronavirus relief package in March, which included a round of free money that funded unemployment aid programs.
  • Families who received the money and who have an annual household income of less than $50,000 were also disappointed with the tax credit. In this case, only five percent said the credit was helpful, 16 percent said a little helpful, and 73 percent said not helpful at all.

Source: breitbart.com

  • DeSantis proposed a program to enable businesses in Florida to pay state fees in bitcoin and cryptocurrencies, among other cryptocurrency-related proposals included in the state’s budget for next year.
  • The move is an attempt to attract further Bitcoin investment to Florida. Source:  bitcoinmagazine.com