The Economy

[SevMax2]

I have sympathy for your troubles, but I just share the economic data that is reported.

There are 7 million more jobs than pre-pandemic and another 8 million job openings that haven’t been filled. We’ve had the longest run of low unemployment since the 1960s. Inflation was 2.5% over the last 12months. The stock market and rising home prices have created wealth for a lot of people. That’s not a description of “god awful”.

But prosperity isn’t nearly as evenly spread across the population as I’d like, and I think the medical industry is trying to bankrupt all of us.

A lot of these jobs are divided among the same people, as in one person working multiple jobs. Just something to note. The stock market and housing values don't reflect those who can't afford either of those things. Nowadays, due to the high home prices, more and more people are priced out of even starter homes. Private equity firms should not be allowed to purchase residential housing, at least in my book. They're a large part of the issue, in fact. They buy up these homes, drive up the prices, and then rent them out to people who originally hoped to own their own place instead. It's that much harder for a struggling young couple and their kids, such as my stepdaughter, son-in-law, and granddaughters. Life ain't a bowl of cherries here. It's very unpleasant in the real world, just saying, outside the bicoastal bubble.

 

[Lazaran]

A lot of these jobs are divided among the same people, as in one person working multiple jobs. Just something to note. The stock market and housing values don't reflect those who can't afford either of those things. Nowadays, due to the high home prices, more and more people are priced out of even starter homes. Private equity firms should not be allowed to purchase residential housing, at least in my book. They're a large part of the issue, in fact. They buy up these homes, drive up the prices, and then rent them out to people who originally hoped to own their own place instead. It's that much harder for a struggling young couple and their kids, such as my stepdaughter, son-in-law, and granddaughters. Life ain't a bowl of cherries here. It's very unpleasant in the real world, just saying, outside the bicoastal bubble.

And Kamala has a plan for addressing ALL of that. (Much of it would already have been addressed if not for corrupt REPUBLICAN obstruction and right wing "justices" on the courts aiding and abetting REPUBLICAN obstruction.

Meanwhile: DonOld has "a concept of a plan" for "something". (Project 2025 is THE "concept of a plan".)

 

[lessOHmo]

WORSE THAN RECESSION​

NATION'S TOP BANKER RAISES WORST SCENARIO: 'STAGFLATION'​

 

[MajorRewrite]

WORSE THAN RECESSION NATION'S TOP BANKER RAISES WORST SCENARIO: 'STAGFLATION'​

We’re not in a recession and we don’t have stagflation, so you’ll have to find something else to pretend to be upset about.

 

[MajorRewrite]

US consumer sentiment climbs to four-month high; import prices drop

The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 69.0 this month, the highest level since May, compared to a final reading of 67.9 in August.

The brightening inflation outlook was reinforced by other data on Friday showing import prices dropped by the most in eight months in August, driven by a broad decline in the costs of goods.

 

[butters]

With Congress and investors believing the time is right to see the federal rates cut— anticipating it, even, trump's demanding there must be no cuts before the election... he knows it can only make Biden-Harris/Harris-Walz look better to voters.
This comes on the heels of his saying presidents should have a say in directing the actions of the Federal Reserve:

While Trump could seek to make changes to the Federal Reserve if he is re-elected in the 2024 election, the Fed currently operates independently from the executive branch.

Next week the Federal Reserve will decide whether to cut rates by 25 or 50 basis points on Sept. 17 and Sept. 18 or leave rates unchanged.

Trump argued rates should remain the same before the 2024 election as to not provide any change to the economy and boost the odds of the current Democratic-led White House.

https://www.msn.com/en-us/money/mar...&cvid=b0bee0cd75e0439686858c5d87440aec&ei=189

I guess it remains to be seen, post his debate debacle and the strengthening of support for Harris/Walz, how much his Congress critters will heed him.

 

[MajorRewrite]

With Congress and investors believing the time is right to see the federal rates cut— anticipating it, even, trump's demanding there must be no cuts before the election... he knows it can only make Biden-Harris/Harris-Walz look better to voters.
This comes on the heels of his saying presidents should have a say in directing the actions of the Federal Reserve:



Trump argued rates should remain the same before the 2024 election as to not provide any change to the economy and boost the odds of the current Democratic-led White House.

https://www.msn.com/en-us/money/mar...&cvid=b0bee0cd75e0439686858c5d87440aec&ei=189

I guess it remains to be seen, post his debate debacle and the strengthening of support for Harris/Walz, how much his Congress critters will heed him.

As the article points out, the Fed is independent and the Clown Show House of Representatives doesn’t have a say in rate setting.

Anyway, it’s predictable that Trump and his MAGAs will scream when the rate is lowered. They love to pretend that everyone cheats against them.

Don’t expect the rate change to have a big impact on the economy, because the change will be small.

 

[icanhelp1]

And Kamala has a plan for addressing ALL of that. (Much of it would already have been addressed if not for corrupt REPUBLICAN obstruction and right wing "justices" on the courts aiding and abetting REPUBLICAN obstruction.

Meanwhile: DonOld has "a concept of a plan" for "something". (Project 2025 is THE "concept of a plan".)

Kamala is nothing more than platitudes without substance. Most of what she says she”ll do can’t be done unless congress legislates. “Opportunity economy”? What does that even mean? Why haven’t they done it already?

 

[Lazaran]

•
First this:

And Kamala has a plan for addressing ALL of that. (Much of it would already have been addressed if not for corrupt REPUBLICAN obstruction and right wing "justices" on the courts aiding and abetting REPUBLICAN obstruction.

Meanwhile: DonOld has "a concept of a plan" for "something". (Project 2025 is THE "concept of a plan".)

And then this:

Kamala is nothing more than platitudes without substance. Most of what she says she”ll do can’t be done unless congress legislates. “Opportunity economy”? What does that even mean? Why haven’t they done it already?

How does one get to be as objectively oblivious as ineedhelp1???



1) DonOld, MAGAt "republicans", and the corrupt right wing "justices" on the Supreme Court OBSTRUCTED President Biden’s and Vice President Harris’ efforts to help average Americans.

2) A right wing Federal Reserve that was too slow to raise interest rates at the onset of inflation AND too slow to cut rates as inflation cooled, along with corporate price gouging (greedflation) and DonOld’s good friend Putin invading Ukraine, exacerbated inflation.

3) DonOld, MAGAt "republicans", and the corrupt right wing "justices" on the Supreme Court left President Biden and Vice President Harris a yuuuuuuuge fucking mess to clean up when President Biden and Vice President Harris took office (we remember) - and then engaged in the wholesale obstruction mentioned in point 1).

4) The opportunity economy that Vice President Harris and Tim Walz are promoting will face the same overwhelming obstruction from DonOld, MAGAt "republicans", the corrupt right wing "justices" on the Supreme Court, corporate greed, and Putin, etc, unless Vice President Harris and Tim Walz receive a mandate from the American people at the ballot box, and the Democratic Party gains control of the Presidency, the House, and the Senate.



DonOld and MAGAt "republicans", like ineedhelp1, etc, should stop pretending that President Biden and Vice President Harris were left a good situation and had it easy when trying to pass legislation to help the average American citizen.

And DonOld and MAGAt "republicans", like ineedhelp1, should stop pretending that President Biden and Vice President Harris had ANY REAL control over the Fed, corporate price gouging (greedflation) and Putin, etc.



Bottom line:

President Biden and Vice President Harris avoided a recession that nearly EVERY expert predicted was inevitable AND the total economic collapse that idiots like DonOld and ineedhelp1 predicted, while simultaneously passing landmark legislation (and there would have been a landmark border and immigration bill passed as well, but DonOld and MAGAt "republicans" sabotaged it.)



DonOld and ineedhelp1

 

[icanhelp1]

•
First this:


And then this:



How does one get to be as objectively oblivious as ineedhelp1???



1) DonOld, MAGAt "republicans", and the corrupt right wing "justices" on the Supreme Court OBSTRUCTED President Biden’s and Vice President Harris’ efforts to help average Americans.

2) A right wing Federal Reserve that was too slow to raise interest rates at the onset of inflation AND too slow to cut rates as inflation cooled, along with corporate price gouging (greedflation) and DonOld’s good friend Putin invading Ukraine, exacerbated inflation.

3) DonOld, MAGAt "republicans", and the corrupt right wing "justices" on the Supreme Court left President Biden and Vice President Harris a yuuuuuuuge fucking mess to clean up when President Biden and Vice President Harris took office (we remember) - and then engaged in the wholesale obstruction mentioned in point 1).

4) The opportunity economy that Vice President Harris and Tim Walz are promoting will face the same overwhelming obstruction from DonOld, MAGAt "republicans", the corrupt right wing "justices" on the Supreme Court, corporate greed, and Putin, etc, unless Vice President Harris and Tim Walz receive a mandate from the American people at the ballot box, and the Democratic Party gains control of the Presidency, the House, and the Senate.



DonOld and MAGAt "republicans", like ineedhelp1, etc, should stop pretending that President Biden and Vice President Harris were left a good situation and had it easy when trying to pass legislation to help the average American citizen.

And DonOld and MAGAt "republicans", like ineedhelp1, should stop pretending that President Biden and Vice President Harris had ANY REAL control over the Fed, corporate price gouging (greedflation) and Putin, etc.



Bottom line:

President Biden and Vice President Harris avoided a recession that nearly EVERY expert predicted was inevitable AND the total economic collapse that idiots like DonOld and ineedhelp1 predicted, while simultaneously passing landmark legislation (and there would have been a landmark border and immigration bill passed as well, but DonOld and MAGAt "republicans" sabotaged it.)



DonOld and ineedhelp1

BUT!BUT!! BUT!!! Price increases and inflation were transitory!

 

[Lazaran]

BUT!BUT!! BUT!!! Price increases and inflation were transitory!

ineedhelp1 doesn’t seem to grasp reading for comprehension.



One more time:

1) DonOld, MAGAts, and right wing obstruction from the courts hurt average Americans financially and otherwise.

2) Corporate price gouging (greedflation) and Putin’s war hurt average Americans financially. Corporate (especially the energy sector) FAILURE (intentional?) to anticipate the strength of the Biden / Harris recovery also led to bottlenecks in supply, which contributed to inflation and hurt average Americans financially.

3) The Fed FAILING to raise interest rates when inflation was heating up, and to lower interest rates when inflation was cooling down, hurt average Americans financially.

4) The absolutely flaming dumpster fire that DonOld left President Biden and Vice President Harris hurt average Americans financially and otherwise.



The average American need not have suffered from the effects of inflation to the current extent.

DonOld, the MAGAts, right wing courts, the Fed, corporate greedflation / incompetence , Putin’s war, and, I should add, climate change related disasters, deserve the lion’s share of the blame for the current high prices for average Americans.



President Biden and Vice President Harris, etc, deserve the lions share of the credit for avoiding a predicted recession that nearly EVERY expert predicted, and a total economic collapse that DonOld / the MAGAts guaranteed, (And inflation IS down to target levels.)

Hope ALL of that ^ helps.



ineedhelp1

 

[RoryN]

BUT!BUT!! BUT!!! Price increases and inflation were transitory!

I wonder if it's all those black daddies living by the 4 fs ( find them, feel them, fuck them, forget them ).

Post in thread 'The real badbabysitter finally revealed..' https://forum.literotica.com/threads/the-real-badbabysitter-finally-revealed.1504564/post-90980000

blacks have a higher propensity of violence than all races combined.

Post in thread 'If America Is Racist, Why Have Millions of Blacks Emigrated Here?' https://forum.literotica.com/thread...f-blacks-emigrated-here.1547263/post-93907526

I find that African Americans are more racist than white folks...I wouldn’t even think of walking a predominately black neighborhood, wouldn’t end well.

Post in thread 'White Officers in Minority Communities' https://forum.literotica.com/threads/white-officers-in-minority-communities.1525284/post-92435953

 

[SevMax2]

Kamala is nothing more than platitudes without substance. Most of what she says she”ll do can’t be done unless congress legislates. “Opportunity economy”? What does that even mean? Why haven’t they done it already?

The whole Green New Deal is a deeply unserious proposal that its proponents know can never work or be enacted, so it's virtue signaling. I think that some of her proposals are along the same lines as that. She knows that the taxes on unrealized gains are impractical, for instance, as are her proposed price controls (spoiler alert, Nixon tried them and they didn't work for him, either).

 

[icanhelp1]

Post in thread 'The real badbabysitter finally revealed..' https://forum.literotica.com/threads/the-real-badbabysitter-finally-revealed.1504564/post-90980000



Post in thread 'If America Is Racist, Why Have Millions of Blacks Emigrated Here?' https://forum.literotica.com/thread...f-blacks-emigrated-here.1547263/post-93907526



Post in thread 'White Officers in Minority Communities' https://forum.literotica.com/threads/white-officers-in-minority-communities.1525284/post-92435953

56,217

 

[icanhelp1]

The whole Green New Deal is a deeply unserious proposal that its proponents know can never work or be enacted, so it's virtue signaling. I think that some of her proposals are along the same lines as that. She knows that the taxes on unrealized gains are impractical, for instance, as are her proposed price controls (spoiler alert, Nixon tried them and they didn't work for him, either).

Taxes on unrealized gains would destroy our markets as we know them. These fucking idiots need to bring spending under control, and I mean both parties. If Dems could get away with it they’d do it. The green new deal is a total farce. Dems never learned from the Solyndra debacle, the government sucks at picking winners.

Hybrids are outperforming EVs, the markets will determine our way forward.

 

[MajorRewrite]

‘Serious energy deflation’ is coming whether Trump or Harris wins, says analyst

Gasoline prices have also fallen to their lowest level since February, with the national average at $3.24 per gallon, according to AAA.

Prices are expected to go lower as the industry soon switches to a cheaper winter-grade gasoline. Analysts predict the national average will dip below $3 per gallon in the coming weeks barring an unforeseen event.

"These sub-$3 prices are sure to boost consumer sentiment going into the fall,” GasBuddy head of petroleum analysis Patrick De Haan told Yahoo Finance.

Weak demand out of China, the biggest importer of oil, has been the main driver of declining crude prices.

US oil production next year is expected to reach another record level, given advances in horizontal drilling and fracking.

 

[lessOHmo]

Harris recession

http://stocktwits.com/Dr_Stoxx/message/586148612

 

[Noitall]

TAPPED OUT: Americans Are Falling Behind on Their Bills. Wall Street Is Alarmed.

Shares of consumer-lending companies slid this past week after executives raised warnings about lower-income borrowers who are struggling to make payments. Dour remarks from banking executives at the Barclays banking conference rattled investors, who were already on edge about the health of the U.S. economy.
Investors have been on high alert for any clues that a recession is in store after two years of higher interest rates. The Federal Reserve is expected to start lowering rates at its meeting this coming week, but some investors fear it might have waited too long.
Here is what bank executives are telling us about how people are faring.
On top of soaring prices for groceries and just about everything else, people have been dealing with higher interest rates on their credit cards. The average rate as of May was 21.51%, according to Fed data, up from around 15% in 2019.
That helps explain why some are finding it harder to keep up with payments, particularly those who don’t earn so much. Around 9.1% of credit-card balances turned delinquent over the past year, the highest rate in over a decade, according to an August report from the Federal Reserve Bank of New York.

The stories began over two years ago that inflation had run through our lockdown savings. Then came the stories a year or so ago that credit card debt and housing payments had hit new highs. So of course the next in the sequence was delinquencies.

 

[Noitall]

 

[lessOHmo]

Harris recession well under way

 

[MajorRewrite]

Harris recession well under way

It’s amusing how you commented 4 times in a row. Desperately stupid.

 

[JohnEngelman]

I’ve been posting economic news in the “Thanks Biden” thread, but I think it’s time for a new dedicated thread.

Let’s begin with today’s good economic news:

US economic growth increased last quarter to a healthy 2.8% annual rate



Good news indeed.

The economy is cyclical so an eventual downturn is inevitable, but it’s not here yet.

I’m sure all Americans will be pleased by the continued strength of the economy.

Trump and his supporters blame Biden for inflation that would have happened anyway because of COVID-19 and the War in Ukraine. They took no blame for Trump's lame response to COVID-19.

 

[MajorRewrite]

Retail sales top Wall Street estimates in August

Retail sales rose 0.1% in August. Economists had expected a 0.2% decrease in spending, according to Bloomberg data. Meanwhile, retail sales in July were revised to a 1.1% increase, from a prior reading that showed sales increased by 1% in the month, according to Census Bureau data.

"The stronger than expected retail sales data for August suggest that, boosted by rapid wealth gains and falling energy prices, consumers continue to spend freely despite the labour market slowdown," Capital Economics North America economist Olivia Cross wrote in a note to clients on Tuesday.

Harris not-a-recession

 

[Bray123]

https://imgur.com/4sgJoMw

 

[Noitall]

Harris Recession

https://twitter.com/x/status/1836103924832702553