December 27, 2023

Wednesday, December 27, 2023. Annette’s News Roundup.

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Joe is always busy.

Bidenomics. Wins Again.

Holiday Spending Increased, Defying Fears of a Decline

Though consumer prices have risen a lot in the last two years, wages have grown faster on the whole.

Despite lingering inflation, Americans increased their spending this holiday season, early data shows. That comes as a big relief for retailers that had spent much of the year fearing the economy would soon weaken and consumer spending would fall.

Retail sales increased 3.1 percent from Nov. 1 to Dec. 24 compared with the same period a year earlier, according to data Mastercard released on Tuesday. The credit card company’s numbers are not adjusted for inflation.

Spending increased across many categories, with restaurants experiencing one of the largest jumps, 7.8 percent. Apparel increased 2.4 percent, and groceries also had gains.

The holiday sales figures, driven by a healthy labor market and wage gains, suggests that the economy remains strong. The Federal Reserve’s campaign to rein in high inflation by raising interest rates over the last few years has slowed the economy, but many economists believe a so-called soft landing is within reach.

“What we’re seeing during this holiday season is very consistent with how we’re thinking about the economy, which is that it’s an economy that is still very much expanding,” said Michelle Meyer, Mastercard’s chief economist.

Solid job growth is allowing people to spend more. And even though consumer prices have risen a lot in the last two years, wages have grown faster on the whole. (New York Times).

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Kamala is always busy.

Touch to tour the VicePresident’s residence.👇

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Merry Christmas from Donald Trump.

He brings such joy to the world.

Touch to remember how Trump brought joy to a 7 year old. 👇

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Jeffrey Epstein had friends.

The list will soon be rolled out. This is the start.

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Constance Baker Motley stamp.

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Yale Grad Students’ Union won.

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The change in copyright law will have big implications, way beyond Mickey and Minnie.

Mickey, Minnie Mouse lose copyright protection next week.

The original versions of Mickey and Minnie Mouse will enter the public domain on Jan. 1, more than 95 years after first being introduced by Walt Disney in "Steamboat Willie."

Why it matters: The iconic duo could be in for some very different sorts of adventures, at least judging by what happened when Winnie the Pooh came out of copyright protection last year.

• Beginning on Jan. 1, any creator has the legal right to use the characters in new works, as long as it's the "Steamboat Willie" versions and not the near-century of animated evolution.

What to know: Mickey and Minnie were scheduled to enter the public domain in 2004, but Disney got a reprieve when Congress passed a 20-year extension.

• They'll be joined on Jan. 1 by other such properties as "Lady Chatterley's Lover" by D.H Lawrence and "The Circus" directed by Charlie Chaplin, according to a list compiled by Jennifer Jenkins, director of the Duke Center for the Study of the Public Domain.

Go deeper: Copyright law will shape how we use generative AI (Axios)

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The fight for a living wage continues.

Minimum-wage workers in 22 states will be getting raises on Jan.1

Minimum-wage workers in 22 states are going to see more money in their paychecks in the new year.

Those increases will affect an estimated 9.9 million workers, according to the Economic Policy Institute (EPI), which estimates that those bumped wages will add up to an additional $6.95 billion in pay.

See the full list of increases.

In addition to those 22 states, 38 cities and counties will also increase their minimum wages above state minimums on Jan. 1.

According to the Department of Labor, 20 states will maintain the federal minimum wage of $7.25 an hour. [ FYI, Five states have not adopted a state minimum wage: Alabama, Louisiana, Mississippi, South Carolina and Tennessee. Two states, Georgia and Wyoming, have a minimum wage below $7.25 per hour. Source. National Conference of State Legislatures] (NPR).

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