The second half of 2020 is nearly here, and now it’s up to the economy to prove that the stock market was right about a sharp comeback in growth.
The first big test will be the June jobs report, out on Thursday instead of its usual Friday release due to the July 4 holiday. According to Refinitiv, economists expect 3 million jobs were created, after May’s surprise gain of 2.5 million payrolls beat forecasts by a whopping 10 million jobs.
“If it’s stronger, it will suggest that the improvement is quicker, and that’s kind of what we saw in May with better retail sales, confidence was coming back a little and auto sales were better,” said Kevin Cummins, chief U.S. economist at NatWest Markets.
The second quarter winds down in the week ahead as investors are hopeful about the recovery but warily eyeing rising cases of Covid-19 in a number of states.
Stocks were lower for the week, as markets reacted to rising cases in Texas, Florida and other states. Investors worry about the threat to the economic rebound as those states move to curb some activities. The S&P 500 is up more than 16% so far for the second quarter, and it is down nearly 7% for the year. Friday’s losses wiped out the last of the index’s June gains.
“I think the stock market is looking beyond the valley. It is expecting a V-shaped economic recovery and a solid 2021 earnings picture,” said Sam Stovall, chief investment strategist at CFRA. He expects large-cap company earnings to be up 30% next year, and small-cap profits to bounce back by 140%.
“I think the second half needs to be a ‘show me’ period, proving that our optimism was justified, and we’ll need to see continued improvement in the economic data, and I think we need to see upward revisions to earnings estimates,” Stovall said.
Liz Ann Sonders, chief investment strategist at Charles Schwab, said she expects the recovery will not be as smooth as some expect, particularly considering the resurgence of virus outbreaks in sunbelt states and California.
“Now as I watch what’s happening I think it’s more likely to be rolling Ws,” rather than a V, she said. “It’s not just predicated on a second wave. I’m not sure we ever exited the first wave.”
Even without actual state shutdowns, the virus could slow economic activity. “That doesn’t mean businesses won’t shut themselves down, or consumers won’t back down more,” she said.
Election aheadIn the second half of the year, the market should turn its attention to the election, but Sonders does not expect much reaction to it until after Labor Day. RealClearPolitics average of polls shows Democrat Joe Biden leading President Donald Trump by 10 percentage points, and the odds of a Democratic sweep have been rising.
Biden has said he would raise corporate taxes, and some strategists say a sweep would be bad for business, due to increased regulation and higher taxes. Trump is expected to continue using tariffs, which unsettles the market, though both candidates are expected to take a tough stance on China.
“If it looks like the Senate stays Republican than there’s less to worry about in terms of policy changes,” Sonders said. “I don’t think it’s ever as binary as some people think.”
Stovall said a quick study shows that in the four presidential election years back to 1960, where the first quarter was negative, and the second quarter positive, stocks made gains in the second half.
Those were 1960 when John Kennedy took office, 1968, when Richard Nixon won; 1980 when Ronald Reagan’s was elected to his first term; and 1992, the first win by Bill Clinton. Coincidentally, in all of those years, the opposing party gained control of the White House.
StimulusThe stocks market’s strong second-quarter showing came after the Fed and Congress moved quickly to inject the economy with trillions in stimulus. That unlocked credit markets and triggered a stampede by companies to restructure or issue debt. About $2 trillion in fiscal spending was aimed at consumers and businesses, who were in sudden need of cash after the abrupt shutdown of the economy.
Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin both testify before the House Financial Services Committee Tuesday on the response to the virus. That will be important as markets look ahead to another fiscal package from Congress this summer, which is expected to provide aid to states and local governments; extend some enhanced benefits for unemployment, and provide more support for businesses.
“So much of it is still so fluid. There are a bunch of fiscal items that are rolling off. There’s talk about another fiscal stimulus payment like they did last time with a $1,200 check,” said Cummins.
Strategists expect Congress to bicker about the size and content of the stimulus package but ultimately come to an agreement before enhanced unemployment benefits run out at the end of July. Cummins said state budgets begin a new year July 1, and states with a critical need for funds may have to start letting workers go, as they cut expenses.
The Trump administration has indicated the jobs report Thursday could help shape the fiscal package, depending on what it shows. The federal supplement to state unemployment benefits has been $600 a week, but there is opposition to extending that, and strategists expect it to be at least cut in half.
The unemployment rate is expected to fall to 12.2% from 13.3% in May. Cummins said he had expected 7.2 million jobs, well above the consensus, and an unemployment rate of 11.8%.
As of last week, nearly 20 million people were collecting state unemployment benefits, and millions more were collecting under a federal pandemic aid program.
“The magnitude here and whether it’s 3 million or 7 million is kind of hard to handicap to begin with,” Cummins said. Economists have preferred to look at unemployment claims as a better real time read of employment, but they now say those numbers could be impacted by slow reporting or double filing.
“There’s no clarity on how you define the unemployed in the Covid 19 environment,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “If there’s 30 million people receiving insurance, unemployment should be above 20%.
The economy is moving in the right direction, as many economic data points are coming in substantially better than what the economists expected. From May job gains coming in more than 10 million higher than expected and retail sales soaring a record 18%, how quickly the economy is bouncing back has surprised nearly everyone.
“As good as the recent economic data has been, we want to make it clear, it could still take years for the economy to fully come back,” explained LPL Financial Senior Market Strategist Ryan Detrick. “Think of it like building a house. You get all the big stuff done early, then some of the small things take so much longer to finish; I’m looking at you crown molding.”
Here’s the hard truth; it might take years for all of the jobs that were lost to fully recover. In fact, during the 10 recessions since 1950, it took an average of 30 months for lost jobs to finally come back. As the LPL Chart of the Day shows, recoveries have taken much longer lately. In fact, it took four years for the jobs lost during the tech bubble recession of the early 2000s to come back and more than six years for all the jobs lost to come back after the Great Recession. Given many more jobs were lost during this recession, it could takes many years before all of them indeed come back.
The Nasdaq has been outperforming every other US-based equity index over the last year, and nowhere has the disparity been wider than with small caps. The chart below compares the performance of the Nasdaq and Russell 2000 over the last 12 months. While the performance disparity is wide now, through last summer, the two indices were tracking each other nearly step for step. Then last fall, the Nasdaq started to steadily pull ahead before really separating itself in the bounce off the March lows. Just to illustrate how wide the gap between the two indices has become, over the last six months, the Nasdaq is up 11.9% compared to a decline of 15.8% for the Russell 2000. That's wide!
The US equity market made its most recent peak on June 8th. From the March 23rd low through June 8th, the average stock in the large-cap Russell 1,000 was up more than 65%! Since June 8th, the average stock in the index is down more than 11%. Below we have broken the index into deciles (10 groups of 100 stocks each) based on simple share price as of June 8th. Decile 1 (marked "Highest" in the chart) contains the 10% of stocks with the highest share prices. Decile 10 (marked "Lowest" in the chart) contains the 10% of stocks with the lowest share prices. As shown, the highest priced decile of stocks are down an average of just 4.8% since June 8th, while the lowest priced decile of stocks are down an average of 21.5%. It's pretty remarkable how performance gets weaker and weaker the lower the share price gets.
It's hard to believe that sentiment can change so fast in the market that one day investors and traders are bidding up stocks to record highs, but then the next day sell them so much that it takes the market down over 2%. That's exactly what happened not only in the last two days but also two weeks ago. While the 5% pullback from a record high back on June 10th took the Nasdaq back below its February high, this time around, the Nasdaq has been able to hold above those February highs.
In terms of market performance following prior occurrences, the Nasdaq's average and median returns were generally below average, but there is a pretty big caveat. While the average one-year performance was a gain of 1.0% and a decline of 23.6% on a median basis, the six occurrences that came between December 1999 and March 2000 all essentially cover the same period (which was very bad) and skew the results. Likewise, the three occurrences in the two-month stretch from late November 1998 through January 1999 where the Nasdaq saw strong gains also involves a degree of double-counting. As a result of these performances at either end of the extreme, it's hard to draw any trends from the prior occurrences except to say that they are typically followed by big moves in either direction. The only time the Nasdaq wasn't either 20% higher or lower one year later was in 1986.
In the mid-1980s the market began to evolve into a tech-driven market and the market’s focus in early summer shifted to the outlook for second quarter earnings of technology companies. Over the last three trading days of June and the first nine trading days in July, NASDAQ typically enjoys a rally. This 12-day run has been up 27 of the past 35 years with an average historical gain of 2.5%. This year the rally may have begun a day early, today and could last until on or around July 14.
After the bursting of the tech bubble in 2000, NASDAQ’s mid-year rally had a spotty track record from 2002 until 2009 with three appearances and five no-shows in those years. However, it has been quite solid over the last ten years, up nine times with a single mild 0.1% loss in 2015. Last year, NASDAQ advanced a solid 4.6% during the 12-day span.
As of yesterday’s close DJIA was down 8.8% year-to-date. S&P 500 was down 3.5% and NASDAQ was up 12.1%. Compared to the typical election year, DJIA and S&P 500 are below historical average performance while NASDAQ is above average. However this year has not been a typical election year. Due to the covid-19, the market suffered the damage of the shortest bear market on record and a new bull market all before the first half of the year has come to an end.
In the surrounding Seasonal Patten Charts of DJIA, S&P 500 and NASDAQ, we compare 2020 (as of yesterday’s close) to All Years and Election Years. This year’s performance has been plotted on the right vertical axis in each chart. This year certainly has been unlike any other however some notable observations can be made. For DJIA and S&P 500, January, February and approximately half of March have historically been weak, on average, in election years. This year the bear market ended on March 23. Following those past weak starts, DJIA and S&P 500 historically enjoyed strength lasting into September before experiencing any significant pullback followed by a nice yearend rally. NASDAQ’s election year pattern differs somewhat with six fewer years of data, but it does hint to a possible late Q3 peak.
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Micron Technology, Inc. (MU) is confirmed to report earnings at approximately 4:00 PM ET on Monday, June 29, 2020. The consensus earnings estimate is $0.71 per share on revenue of $5.27 billion and the Earnings Whisper ® number is $0.70 per share. Investor sentiment going into the company's earnings release has 71% expecting an earnings beat The company's guidance was for earnings of $0.40 to $0.70 per share. Consensus estimates are for earnings to decline year-over-year by 29.00% with revenue increasing by 10.07%. Short interest has increased by 7.6% since the company's last earnings release while the stock has drifted higher by 8.0% from its open following the earnings release to be 0.9% below its 200 day moving average of $48.94. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 46,037 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 8.4% move in recent quarters.
General Mills, Inc. (GIS) is confirmed to report earnings at approximately 7:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.04 per share on revenue of $4.89 billion and the Earnings Whisper ® number is $1.10 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 25.30% with revenue increasing by 17.50%. Short interest has decreased by 9.4% since the company's last earnings release while the stock has drifted higher by 2.7% from its open following the earnings release to be 7.8% above its 200 day moving average of $54.91. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, June 24, 2020 there was some notable buying of 8,573 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 6.6% move on earnings and the stock has averaged a 3.0% move in recent quarters.
FedEx Corp. (FDX) is confirmed to report earnings at approximately 4:00 PM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $1.42 per share on revenue of $16.31 billion and the Earnings Whisper ® number is $1.65 per share. Investor sentiment going into the company's earnings release has 61% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 71.66% with revenue decreasing by 8.41%. Short interest has increased by 10.4% since the company's last earnings release while the stock has drifted higher by 43.9% from its open following the earnings release to be 7.6% below its 200 day moving average of $140.75. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 25, 2020 there was some notable buying of 1,768 contracts of the $145.00 call expiring on Thursday, July 2, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 7.7% move in recent quarters.
Conagra Brands, Inc. (CAG) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.66 per share on revenue of $3.24 billion and the Earnings Whisper ® number is $0.69 per share. Investor sentiment going into the company's earnings release has 66% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 83.33% with revenue increasing by 23.99%. Short interest has decreased by 38.3% since the company's last earnings release while the stock has drifted higher by 6.3% from its open following the earnings release to be 6.4% above its 200 day moving average of $30.68. Overall earnings estimates have been revised higher since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 3,239 contracts of the $29.00 put expiring on Thursday, July 2, 2020. Option traders are pricing in a 4.7% move on earnings and the stock has averaged a 10.8% move in recent quarters.
Constellation Brands, Inc. (STZ) is confirmed to report earnings at approximately 7:30 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.91 per share on revenue of $1.97 billion and the Earnings Whisper ® number is $2.12 per share. Investor sentiment going into the company's earnings release has 53% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 13.57% with revenue decreasing by 13.69%. Short interest has increased by 20.8% since the company's last earnings release while the stock has drifted higher by 25.2% from its open following the earnings release to be 5.2% below its 200 day moving average of $178.34. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, June 9, 2020 there was some notable buying of 888 contracts of the $195.00 call expiring on Friday, October 16, 2020. Option traders are pricing in a 3.1% move on earnings and the stock has averaged a 5.7% move in recent quarters.
Capri Holdings Limited (CPRI) is confirmed to report earnings at approximately 6:30 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $0.32 per share on revenue of $1.18 billion and the Earnings Whisper ® number is $0.34 per share. Investor sentiment going into the company's earnings release has 39% expecting an earnings beat The company's guidance was for earnings of $0.68 to $0.73 per share. Consensus estimates are for earnings to decline year-over-year by 49.21% with revenue decreasing by 12.20%. Short interest has increased by 35.1% since the company's last earnings release while the stock has drifted lower by 56.7% from its open following the earnings release to be 44.0% below its 200 day moving average of $25.67. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 4, 2020 there was some notable buying of 11,042 contracts of the $17.50 put expiring on Friday, August 21, 2020. Option traders are pricing in a 10.8% move on earnings and the stock has averaged a 6.7% move in recent quarters.
X Financial (XYF) is confirmed to report earnings at approximately 5:00 PM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.09 per share. Investor sentiment going into the company's earnings release has 25% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 55.00% with revenue increasing by 763.52%. Short interest has increased by 1.0% since the company's last earnings release while the stock has drifted lower by 1.2% from its open following the earnings release to be 37.7% below its 200 day moving average of $1.47. Overall earnings estimates have been unchanged since the company's last earnings release. The stock has averaged a 4.9% move on earnings in recent quarters.
Acuity Brands, Inc. (AYI) is confirmed to report earnings at approximately 8:40 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $1.14 per share on revenue of $809.25 million and the Earnings Whisper ® number is $1.09 per share. Investor sentiment going into the company's earnings release has 42% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 51.90% with revenue decreasing by 14.60%. Short interest has increased by 48.5% since the company's last earnings release while the stock has drifted higher by 2.4% from its open following the earnings release to be 23.4% below its 200 day moving average of $110.25. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 8.2% move in recent quarters.
Methode Electronics, Inc. (MEI) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.77 per share on revenue of $211.39 million. Investor sentiment going into the company's earnings release has 45% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 24.19% with revenue decreasing by 20.53%. Short interest has increased by 6.2% since the company's last earnings release while the stock has drifted lower by 1.7% from its open following the earnings release to be 9.0% below its 200 day moving average of $32.97. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 18.4% move on earnings and the stock has averaged a 8.1% move in recent quarters.
UniFirst Corporation (UNF) is confirmed to report earnings at approximately 8:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.17 per share on revenue of $378.28 million and the Earnings Whisper ® number is $1.25 per share. Investor sentiment going into the company's earnings release has 44% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 52.44% with revenue decreasing by 16.63%. Short interest has decreased by 2.7% since the company's last earnings release while the stock has drifted higher by 14.1% from its open following the earnings release to be 8.4% below its 200 day moving average of $186.14. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 7.0% move on earnings in recent quarters.
(The Political and Demographic Survey for Lovers of the Global Poor was fielded periodically in five waves from mid-August 2019 through mid-January 2020. It was made possible with a generous grant from the Open Society Foundations, a philanthropic venture founded by George Soros.)submitted by IncoherentEntity to u/IncoherentEntity [link] [comments]
This unscientific survey and its modest samples are by no means a definitive account of this community's attitudes or demography, and I've identified at least a few methodological shortcomings. Two of them — namely, the limited answer selection for favorability questions and the wording of one option in the religious affiliation query — are described below.
More significantly, however, my decision to prioritize insights about the demographic makeup of this subreddit (wherein I limited each respondent to one wave to prevent duplicates) necessarily came at the expense of revelations about its political opinions. As a result, it is impossible to exclude the possibility that apparent trends between one wave and the next are not due at least in part to a response pool whose politics are systematically different from previous ones.
But with the above caveats laid out, I present to you — at long last — the topline findings and corresponding analyses from my personal contribution to the Neoliberal Project!
💎 Joe Biden 💎 🥀 Bernie Sanders 🥀 👵🏼 Elizabeth Warren 👵🏼 👮🏾♀️ Kamala Harris 👮🏾♀️ 🏳️🌈 Pete Buttigieg 🏳️🌈 🍦 Michael Bloomberg 🍦 📒 Amy Klobuchar 📒 🧮 Andrew Yang 🧮 🛹 Beto O'Rourke 🛹 📖 Cory Booker 📖 💪 John Delaney 💪
🍊 Donald Trump 🤴 👩⚖️ Nancy Pelosi 👩⚖️ 🌹 Alexandria Ocasio-Cortez 🌹
🐎 Democratic Party 🐎 🐘 Republican Party 🐘 🌿 Libertarianism 🌿
Wave 1 (N=222 | August 11–13, 2019)https://preview.redd.it/9e9bkuw54do41.png?width=894&format=png&auto=webp&s=3628e55ac8dd64a419517951eb5ad771ae96703e
🏳️🌈 (36.9%) earns a large plurality, with 🛹 (19.8%) taking second place. 💎 (10.8%) and 💪 (9.0%) follow up in third and fourth, while the fiercely progressive 👵🏼 (5.9%) earns a fair share as well. The remaining candidates combine for 15 percent of the first-preference vote, with no individual candidate reaching 4 points.
Opinions of 🏳️🌈 (91.6) soar sky-high, with nearly 9 in 10 expressing a favorable view. In a not-so-close second is 👩⚖️ (84.2) for whom close to 8 in 10 have a positive opinion. 💎 (80.9) is the second-placed Democratic candidate, with nearly 3 in 4 offering a positive view, with nobody else even remotely close.
👵🏼 (46.1) finds herself slightly underwater, with a –7.7% net rating, and 👮🏾♀️ (43.2) is close behind. Of the five highest-polling candidates at the time of the survey, 🥀 (12.1) finds himself in an ignominious last, with just under a mere 1 in 10 giving a favorable view.
However, nobody on the left side of the aisle can come close to 🍊🤴 (1.4), who lands just a hair above being universally despised.
Wave 2 (N=140 | October 11–15, 2019)https://preview.redd.it/ckpx1vo94do41.png?width=894&format=png&auto=webp&s=f3e5d3ecac7f85c3d64cc5c20979027d0e4456e6
🏳️🌈 (38.6%) once again lands on top, more than tripling niche-favorite 💪's (12.1%) share, who is in a tight cluster for runner-up with 🛹 (11.4%) — who suffered a steep decline — 💎 (11.4%), and 👵🏼 (10.7%), who nearly doubled her vote. The rest take a little under 1/7th of the vote, with nobody breaking 4 percent.
🏳️🌈 (92.8) hurdles the 9 in 10 threshold for favorability. 👩⚖️ (89.6) sees her already stellar standing improve substantially, while 💎 (83.1) trades places with his party.
👵🏼 (55.4) surges into positive territory, while 👮🏾♀️ (33.9) takes a big hit. 🥀 (14.9) is once again dead last.
Wave 3 (N=165 | November 11–14, 2019)https://preview.redd.it/0bqavm8d4do41.png?width=894&format=png&auto=webp&s=4b4bec0be0a8849f120826f063de028bb2ab935a
Pulling a clear majority of the vote, 🏳️🌈 (54.5%) obliterates the field. 💎 (18.8%) substantially increases his share, while 👵🏼 (5.5%) has her percentage halved and 💪 (4.2%) cut by a brutal two-thirds. The remaining candidates take 14 percent, with no individual candidate surpassing the 4-point threshold.
🏳️🌈 (93.9) inches still closer to the mathematical limit, as 👩⚖️ (84.2) recedes and 💎 (83.0) replicates his previous robust showing.
👵🏼 (38.5) nosedives, and 👮🏾♀️ (38.1) recoups some of her losses. 🥀 (12.1) returns to his abysmal rating in the first wave.
🍊🤴 (2.7) climbs further, doubling his Wave 1 standing in an impressive show of newfound popularity.
Wave 4 (N=150 | December 23–26, 2019)https://preview.redd.it/7ozcxrue4do41.png?width=894&format=png&auto=webp&s=1546d0102b91dab50da987d272bfe96873ecb243
🏳️🌈 (54.0%) repeats his dominating performance, while 💎 (22.0%) earns twice his initial share. A meaningful minority contingent selects the otherwise broadly reviled 🥀 (4.7%), and late-entrant 🍦 (4.7%) matches. 🧮 (4.0%) earns his mention with a number of votes, 👵🏼 (2.7%) loses another half off her support, and 💪 (1.3%) fades into the background.
🏳️🌈 (91.3) loses a bit of his still-vibrant luster, and 👩⚖️ (91.3) draws right even with him as her skeptics are slashed by no less than half. 💎 (87.6) significantly improves his already excellent numbers.
The now-departed 👮🏾♀️ (48.3) surges to near-even favorability, while 👵🏼 (34.0) is further depressed. 🥀 (17.3) rises somewhat from the abyss.
Wave 5 (N=187 | January 12–14, 2020)https://preview.redd.it/va1ly13i4do41.png?width=894&format=png&auto=webp&s=e5d6a87273fa6eafc4f19409f2762020942f3aeb
🏳️🌈 (45.5%) loses his outright majority as 💎 (28.9%) significantly increases his vote share for the fourth consecutive wave. 📒 (4.8%) rises to the top of the second tier, with 📖 (4.3%) just behind.
💎's (91.2) unrelenting rise is mirrored in favorability as he dethrones 🏳️🌈 (90.3) for the first place in the metric.
👮🏾♀️ (55.8) rides cleanly into positive territory, and 👵🏼 (45.7) sees her image improve substantially, perhaps aided by an ongoing feud with 🥀 (13.8), who falls from his personal high.
🍊🤴 (1.0), for his part, kisses the floor.
Bernie Sanders vs. Donald Trumphttps://preview.redd.it/mve7hnyfodo41.png?width=427&format=png&auto=webp&s=6dc3f26f3106411133c5e830746f1e9aab1fc7be
The overwhelming majority — 8 in 10 — of neoliberal are willing to hold their noses and vote for 🥀 were he the nominee, but the percentage shrunk by just over 1 percent in every successive wave but one, while the number of defectors reached a high of 8 percent in the fourth before receding somewhat. This is perhaps due to the increasingly bitter nature of the primary.
A similarly overwhelming 82 percent majority across all five waves oppose allowing businesses to deny service to LGBT+ customers on the basis of their orientation, while just 1 in 8 expressed support.
By a 72–15 margin, neoliberals support changing the individual income tax schedule in the United States to add 40 and 45 percent brackets for respective annual incomes over $1,000,000 and $2,500,000. (The difference between the waves with highest and lowest margins in favor are statistically significant, although the reason behind this is unclear.)
An incredible 3 in 4 respondents offer support for the politically suicidal stance of no government restrictions on abortion rights, with just 1 in 6 opposed — yet more evidence that neoliberal's moderation applies only to economics and not social and cultural issues, where its orientation is solidly leftist.
On the flipside, significantly raising tax rates on higher corporate income brackets while cutting them for lower ones receives a cool reception: just under 1 in 3 expressed support for the proposed change. Many (1 in 5) were unsure, however, and the percentage of opponents falls short of majority level.
Notably, following an initial dip, approval of the proposition increased significantly from Wave 2 to Wave 5. Again, it is not clear what was behind this shift.
A narrow 2-point plurality favored outlawing semiautomatic rifles and magazines carrying over 10 rounds over the entire survey period, but this masks the sharp drop in support from the first wave to the second.
There is an explanation that likely accounts for this precipitous change: 🛹's politically risky proposal for a mandatory buyback of AR–15s, as well as perhaps prior preference for sub-favorite 🏳️🌈, who was its most vocal opponent.
No policy proposal saw a greater consensus than the introduction of a public option for Medicare, with an impressive 7 in 8 in support. The unequivocal figure is emblematic of the observation that the disagreement between the center-left and the hard-left is typically over the means — not the end.
neoliberal is a downright fraternity, with over 9 in 10 respondents identifying themselves as male and just 6 percent as female. The remaining 1 in 40 or so identified beyond the gender binary.
(I did not try to break out transgender males and females specifically, fearing that the small figures might convey more noise than signal.)
An alternate tagline for this community could be "Zoomer Nation," as a 3 in 5 majority are too young to be included in the Census Bureau's calculation of the percentage of Americans with a college degree. The pattern in the remainder of the sample was scarcely any less stark: 1 in 3 were between the ages of 25 and 34. A vanishing 1 percent — 9 respondents — were 45 or older.
Limited to the 40 percent of respondents aged at least 25, this subsample offers yet another indication of how vastly different the userbase of neoliberal is from the general population. With nearly 6 in 7 seniors harboring a bachelor's degree — and 3 in 8 having at taken courses further beyond — the community comprises an elite stock. (As of 2018, 35 percent of Americans in the same age range have graduated college.)
Somewhat over 3 in 4 of the sample identified their ethnic background as white — likely a few Taylor Swifts short of what the community has seemed to envision as a battle against a polar bear in a snowstorm at the 90° parallel.
Considering the proportion of respondents from the United States ⬇️, Asian neoliberals (8.4%) were overrepresented and users of mixed ancestry (7.0%) even more so, while Hispanic (4.5%) and Black (3.2%) members fell far short of their representation in the general population.
neoliberal is a highly secular community, with 2 in 3 stating their irreligiosity, while about 23 percent identified as Christians and 10 percent professed their affiliation with another religion.
(It's worth pointing out that these numbers are meaningfully out of line with a survey conducted of this subreddit two years ago, wherein a full 80 percent selected one of the religiously unaffiliated options and just 5 percent reported identification with another religion. It is possible that the use of "Unaffiliated" instead of "No religion" as the third selection confused certain respondents.)
Perhaps a sign of the generational times, right between 1/5 and 1/4 of respondents identified as a sexual minority. This is far higher than surveys of the public report for the youngest generation, however, so other major factors are certainly at play.
In an attempt to limit the sample to those for which the questionnaire would be most relevant, I discouraged non-Americans from taking the survey, so these figures are not intended to be representative. (A follow-up poll strongly suggests that few heeded the request.)
However, I have included it to contextualize the rest of the data.
~ ~ ~ ~ ~
All Graphical Representations
Detailed Responses by Individual (useful for those who would like to do analyses of their own)
¹ I discovered in a poll following up my wave survey that the lack of options for different intensities of positive/negative opinion omitted critical nuance in the data. Relatively speaking, 🏳️🌈 suffered most because of this, while 💎 benefitted a fair bit.
² Favorable = 100 | Neither = 50 | Unfavorable = 0
ily, thank you, etcThis shit sweet as hell thank you for taking the time to add it in at the end ily
“all my answers need the addendum of “I am an idiot, and there are many things I don’t know”Gurl same
HiHi. how u doin
I am a gayAbsolutely. We love that for you.
[bee movie script]Hi. no. dislike.
Comrades! You have nothing to lose but your chains!There’s like 5 of you that said this and i love it
imagine being sega and not working towards creating and publishing a new jet set radio future game; absolutely criminalImagine being sega. Can’t relate
Perhaps a link in the side bar we can click to escape the subreddit, especially on mobile if possible.Honestly not a bad idea. I’ll look into this.
Please just add the QA to the name. It’s 2 lettersI’m sorry, i can’t change the subreddit name. I’ll add it to the sidebar tho <3
Sexual attraction is bourgeoisIdk what this means but it is now one of the central tenets of my faith
Thanks for all the “other” optionsYou’re welcome it made like, 100x more work for me, but i kinda like that we have a smidge of qualitative data alongside all the quantitative shit.
Thanks for letting me participate despite my non LGBT statusThanks for being chill!
You people need to calm down. I can sense that this energy primarily comes from North America, so I will explain. The level of discrimination and the lack of basic human rights are so extreme, people cannot stand it anymore even if they are not fully aware of these subconscious vibes, so they need to pull extremely in the other direction to make up for this. And hence you have this kind of subculture that emerges as result. The problem is that, you people are as bad as the other end of the problem because you're as extreme, and it translates into over the top aggression and people so insanely touchy they see an attack in absolutely everything, even if they are not being attacked. Become aware of these energies, and chill.Gurl are you like okay? Do you need a lie down? Some fruit snacks? Everything okay at home?
“I think we need mods who do more than just let people police the sub themselves. We may only need a new mod if the current mods don’t change how they mod. Respond to reports is what I’m saying (I don’t see almost any removed comments ever)”I’m gonna hold my hands up here, I have generally sucked ass at this. I rely almost completely on you lot reporting things to me, but for the longest time I had a big ol mod queue that was just overwhelming to look at. I’ve made changes to this in the past few weeks, including
” i think a little more mod participation would be cool. just seeing admins in comments laughing and joking along with us, and sharing in the memes”I’ve honestly been thinking about this comment for a while. I try to avoid posting here because, again, I’ve seen a lot of criticism of mods who participate too much in their own subs, especially when they distinguish their posts. I don’t wanna look like a dick, yknow? But I like this comment and I’m gonna try and just hang out with you lot more <3
Mod posts for awareness days (ie bisexuality awareness, TDOR, etc)I kinda think this idea slaps. Does anybody have a calendar of important LGBT dates? I think we could tie this into the other comment about challenges for themed memes, where appropriate.
Clarity as to what this neat little subreddit is aboutMe_irlgbt is a queer shitposting subreddit. It’s generally for memes and queer fuckery. Not selfies. That’s about it.
Support threads/postsOkay, so, the reason I’m not going to do this is because I feel that if I post a thread for support, I then have a duty of care to anybody who posts in it. I do not have the capability, time, or knowledge to provide that duty of care, so I feel it would be strongly unethical to do this, regardless of how good the intentions are. I think it’s a well-meaning idea, I just wanted to clarify why I’m personally not comfortable with it.
Not everybody in me_irlgbt is gay. Can we have more inclusivity?When I use “gay” on this subreddit, especially if I’m referring to the general mass of users, I wholeheartedly mean it in a community way. Like, “we, the gays” as contrapoints once said. You are welcome here. This isn’t the only response along these lines, so I will keep it in mind when making changes.
|"I have no idea who any of these people are"||693|
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