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The Economy

MajorRewrite said:
Censurat/ExxWhyZee/snailspace is the guy who started a thread about how the US economy was already falling into a recession. Which it isn’t, as you pointed out.

I’m sure you’re shocked it was him.
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Thanks, major. I'll be sure to repost on that thread.
 
Trump Pledges to Fire Gensler, Hire People Who ‘Love’ Crypto

Trump is pandering to the crypto currency crowd in hopes they’ll give him lots of money. Not exactly a sound way to decide financial regulations.

Donald Trump said he would fire the Securities and Exchange Commission chair and pick crypto-friendly regulators if he returns to the White House in a bid to court virtual currency enthusiasts and harness the industry’s growing influence in the political arena.
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He also pledged to form a crypto industry presidential advisory council, create a stablecoin framework, and called for a scale-back in enforcement.
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Trump voiced skepticism about cryptocurrencies in office, claiming he was “not a fan” and that their values were “based on thin air,” but in his 2024 presidential campaign he’s reversed course, increasingly highlighting Bitcoin on the trail and actively wooing the crypto sector.
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Trump’s message to every industry is consistent … give me lots of cash and I’ll wipe out your regulatory oversight.
 
Although some MAGAs are pretending economic disaster is here, it is not.

The number of Americans filing new applications for unemployment benefits increased to an 11-month high last week, suggesting some softening in the labor market, though claims tend to be volatile around this time of the year.
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Unemployment claims hit an 11-month high because unemployment claims spike this time of year.

Though applications broke above the upper end of their 194,000-245,000 range for this year, layoffs remain generally low. Government data on Tuesday showed the layoffs rate in June was the lowest in more than two years.
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Federal Reserve Chair Jerome Powell told reporters on Wednesday that while he viewed the changes in the labor market as "broadly consistent with a normalization process," policymakers were "closely monitoring to see whether it starts to show signs that it's more than that."
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US weekly jobless claims

The economy is cyclical, so ups and downs are inevitable. The economy is still growing. Inflation is under control. The Fed is not concerned.

MAGAs who are wishing for an economic collapse (because they are anti-American) will have to continue to wish and whine. Poor censurat/ExxWhyZee … America’s economic success makes him so angry.
 
Decreased inflation boosts Floridians’ economic outlook

Consumer sentiment among Floridians increased for the second consecutive month in July, rising to 74.4 points, up 1.2 points from a revised figure of 73.2 in June.
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“It appears that consumer sentiment in Florida has gained traction over the last couple of months. Notably, future economic expectations are at their highest levels since summer 2021, reflecting positive economic prospects among Floridians. Moreover, as inflation recedes, it is likely that the Fed will begin cutting interest rates later this year, which could further enhance economic conditions,” said Hector Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.
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The bottom line is the FED is the main culprit and their program is to destroy the American economy and the dollar. They want CBDC and total control of how you spend your money. They want you poor and dependent on them. Congress is their helper and by all means you should keep electing them back in office over and over.
 
LLCox said:
The bottom line is the FED is the main culprit and their program is to destroy the American economy and the dollar. They want CBDC and total control of how you spend your money. They want you poor and dependent on them. Congress is their helper and by all means you should keep electing them back in office over and over.
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Nonsense. That’s conspiracy lunacy.

The Fed’s job is to moderate the swings of the economy, which is cyclical in nature. They raise interest rates when inflation rises, and lower interest rates when the economy contracts. That’s it.

The Fed has no control over how you spend your money.

There is no way for anyone to be “dependent on” the Fed.
 
Buffalogurl said:
https://www.dailymail.co.uk/yourmon...global-stocks-meltdown-jobs-unemployment.html
For your reading enjoyment 🙄 yupper the US economy is flying high........?.on L.S.D...........
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😆 The Daily Mail is a rag! Only gibbering idiots read it.

Facts: the jobs report says the US economy added 114,000 jobs.

Unemployment remains below historic norms at just 4.3%.

Income is rising faster than inflation over the last 12 months.

The daily fluctuations of Wall Street are meaningless to understanding the economy. Wall Street makes money from high volume of trades so they promote volatility.

I’m not surprised that you’re upset by America’s economic success, because you are MAGA (anti-American).
 
Buffalogurl said:
https://www.armstrongeconomics.com/...billion-daily-servicing-the-us-national-debt/.... just like some individuals whom pay one credit card off with two other credit cards...... the death spiral has a firm grip...... please, please..... make kamala the official captain of the titanic......
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Which president added the most to the national debt in a 4-year period? Sleepy Donnie.

Sleepy Donnie is an expert in running up debt and going bankrupt. 👍

You’ll have to find something else to pretend to be upset about.
 
US Services Activity Expands as Orders Rebound

The US services sector expanded in July after contracting a month earlier by the most in four years, which may help allay fresh concerns about a broad slowing in the economy.

The Institute for Supply Management’s index of services rose 2.6 points to 51.4. Readings above 50 indicate expansion, and the July figure was slightly firmer than the median projection in a Bloomberg survey of economists.

The gauge was boosted by rebounds in services employment, orders and business activity that suggest the largest part of the economy is growing at a modest pace. Reports last week showing a weakening labor market and a slump in manufacturing spurred recession concerns and battered global financial markets.
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Goolsbee warns against Fed being overly restrictive, downplays recession fears

Goolsbee also cautioned against taking too much signal from a global stock market sell-off that accelerated on Monday, amid fears the U.S. central bank has waited too long to begin cutting interest rates. The aftermath of the Bank of Japan's decision last week to raise rates, as well as increasing geopolitical tensions in the Middle East, also contributed to the rout.
"The law doesn't say anything about the stock market; it's about the employment and it's about price stability," Goolsbee said, citing the Fed's dual goals set by Congress, as he noted how prone financial markets are to volatility.
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