The Economy

[beckiefalwell]

Best week of '24 isn't really saying a lot considering it came right after the worst week since '22 (or so). What's important is we're (S&P) up 800 for '24 and up 1,600 since the Orange Disaster.

You just lost the cannon fodder. They're in their own crappy world.

 

[beckiefalwell]

Trump's Minus Touch.
https://www.thoughtco.com/donald-trump-business-bankruptcies-4152019

 

[AlexBailey]

Good morning Alex, I'm apparently not getting my points across.... (I'm not being snarky) I very much understand creating wealth, I accomplish that every year with cattle and wheat and the profits I earn from my shop. So, to the point. Every dollar in existence is created through/from the federal reserve, no matter what commodity I produce we'll say, (just for argument sake) At the time of sale of the commodity I'm paid with a check, I want cash so at the bank I redeem my cash/federal reserve notes, that cash had to have originally been created at the fed, otherwise it's counterfeit every dollar I posses, at the time of it's creation the federal reserve keeps 10% or 15% as stated earlier. We'll go with 10% no matter how much taxes are collected, fees collected the money that the federal government has borrowed can never be paid back for the simple fact that we owe 10% more than the money in existence.....
This entire flat money system in a scam.. it's something for nothing and is crashing it's criminal for the federal reserve to manipulate the economy when "they" believe it going south ie raising interest rates to slow or stop investment thus causing unemployment ie you losing your job maybe your home, car difficultly by ing food utilities ect.. if you or I manipulate the market we'd go to jail...remember the house always wins. But only with borrowed money, you will serve the one you fear, that being the institution that loaned you the money
The prime example of the burden of borrowing money is student loans, these young people were fed a bucket of shit, go to college, you'll come out making top dollar they said. There is more but I gotta go for now.....

Nope. You’re deep in the anti-Fed discussion but you’re also showing how you don’t have very good grasp of money creation in the US economy.

Keep learning. Look more into fractional reserve lending and reflect on why you don’t want to tax billionaires.

 

[Rightguide]

Our recent inflation surge (which is over now) wasn’t caused by bailing out banks. It was the side effect of keeping the economy afloat during the pandemic. It’s not a coincidence that the US economy came out of the pandemic stronger than any other nation.

Every currency in the world is a fiat currency. Are they collapsing left and right? No, they are not.

Here’s your economic illiteracy award. Congratulations.

Food prices alone since 2021 have increased by 15%. Why do you think grocery stores are going to digital price tags? Because Biden caused inflation is devaluing the dollar at such a rate it's too costly to employ the number of people it would take to change the prices daily to reflect the increasing loss of value of the dollar.

Go and study the Hyperinflation affected the German Mark in the Weimar Republic and how housewives had to collect their husbands' paychecks in wheelbarrows at the end of the day and find zeros added to the denomination of bills with rubber stamps to keep up with the hyper-rate of inflation. After doing so get back to me with enough honesty to see the seeds of that debacle unfolding here if something isn't done about this excessive spending of printed money right here in the US.

 

[MajorRewrite]

Harris would raise corporate tax rate to 28 percent, her campaign says

When Trump was president, he slashed the corporate tax rate to 21% from 35% and implemented other tax breaks that are set to expire next year. Trump has vowed to make the cuts permanent.

Harris, a Democrat, has pledged to maintain President Joe Biden's promise not to raise taxes on people who make $400,000 or less a year.

 

[jaF0]

S&P back over 5,600 and within striking range of a new record.

 

[astuffedshirt_perv]

Harris would raise corporate tax rate to 28 percent, her campaign says

The average top corporate rate among EU Member States is 21.13 percent, 23.73 percent in OECD countries. "Let's tax at above average" seems like a hard sell, YMMV.

 

[MajorRewrite]

The average top corporate rate among EU Member States is 21.13 percent, 23.73 percent in OECD countries. "Let's tax at above average" seems like a hard sell, YMMV.

The corporate tax rate was 35% before Trump cut it. 28% is not an untested high rate.

 

[astuffedshirt_perv]

Go and study the Hyperinflation affected the German Mark in the Weimar Republic

Plus points for knowing what the Weimar Republic was, minus points for thinking 7% inflation is hyperinflation

 

[MajorRewrite]

Plus points for knowing what the Weimar Republic was, minus points for thinking 7% inflation is hyperinflation

The CPI inflation rate for the last 12 months is 2.9%, and over the last 4 months is near zero.

 

[coati]

Food prices alone since 2021 have increased by 15%. Why do you think grocery stores are going to digital price tags? Because Biden caused inflation is devaluing the dollar at such a rate it's too costly to employ the number of people it would take to change the prices daily to reflect the increasing loss of value of the dollar.

Go and study the Hyperinflation affected the German Mark in the Weimar Republic and how housewives had to collect their husbands' paychecks in wheelbarrows at the end of the day and find zeros added to the denomination of bills with rubber stamps to keep up with the hyper-rate of inflation. After doing so get back to me with enough honesty to see the seeds of that debacle unfolding here if something isn't done about this excessive spending of printed money right here in the US.

As usual, you get hysterical about an economic issue that Trump would make worse by giving tax breaks to billionaires and then bullying the Federal Reserve into lowering interest rates.

Keep the fascist away from the White House and the Fed. Make the rich help pay down the debt. Stay the course set by Biden to focus on helping the middle class.

Let the hysterical MAGAts like ReichGuard hyperventilate all they want as Trump continues to demolish the Republican Party.

 

[butters]

Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.

“It’s hard to think of a time when the U.S. economy has diverged so fundamentally from its peers,” Mark Zandi, the chief economist at Moody’s Analytics, told me. Over the past year, some of the world’s biggest economies, including those of Japan and Germany, have fallen into recession, complete with mass layoffs and angry street protests. In the U.S., however, the post-pandemic recession never arrived. The economy just keeps growing.

The Atlantic

 

[Dhfranklin94]

You guys can spin what ever dat you want tomato fit either side of your argument. I deal in the real world. All I know is that my grocery bill goes up almost every week. Food prices and other item prices continue to go up as well as gasoline and other fuels including wood products. And the value of dollar keeps shrinking which is a huge problem and not sustainable. The government needs less regulation and needs to stop springing they don't have.

In addition, everyone e ignores history and thinks they are smarter than the last generation which is a dangerous thing.

 

[Dhfranklin94]

And AI and autocorrect suck to boot. It freaking changed "to make" to tomato. SMH. Guess I'm just getting ornery in my old age.

 

[jaF0]

My food bills haven't changed significant in probably 10 years.

 

[RobDownSouth]

Food prices alone since 2021 have increased by 15%. Why do you think grocery stores are going to digital price tags? Because Biden caused inflation is devaluing the dollar at such a rate it's too costly to employ the number of people it would take to change the prices daily to reflect the increasing loss of value of the dollar.

Using CUMULATIVE inflation from an arbitrary start point is intellectually weak.

Go and study the Hyperinflation affected the German Mark in the Weimar Republic and how housewives had to collect their husbands' paychecks in wheelbarrows at the end of the day and find zeros added to the denomination of bills with rubber stamps to keep up with the hyper-rate of inflation. After doing so get back to me with enough honesty to see the seeds of that debacle unfolding here if something isn't done about this excessive spending of printed money right here in the US.

• The rate of inflation in the United States has come nowhere near hyperinflation EVER.
• The highest inflation rate in the United States in the modern era is roughly 20% PER YEAR in March 1980, forty years ago.
• The highest inflation rate in Weimar Republic Germany was at least 50% PER WEEK in 1932.

Hyperinflation is generally defined as upwards of 50%, a rate never reached in United States history, yet you continually invoke "Weimar Republic" as some sort of bogeyman.

 

[Bn2f]

And AI and autocorrect suck to boot. It freaking changed "to make" to tomato. SMH. Guess I'm just getting ornery in my old age.

How did/do you vote?
It’s an important thing know.
I’ll still though try and give you an answer that should address your stated concerns.

NO REPUBLICAN VOTED TO HELP THEIR CONSTITUENTS BY VOTING IN FAVOR OF THE INFLATION REDUCTION ACT. NONE.

 

[Dhfranklin94]

My food bills haven't changed significant in probably 10 years.

I want to know what you are eating and where you shop.

 

[jaF0]

I eat what I want. I shop a number of places. I still get eggs for a buck a dozen at times and bread for a buck or two a loaf. I don't eat high dollar beef, but I still get boneless/skinless chicken breasts for $2/lb like I did 10 years ago. Shrimp for about $3-4/lb. Pork loins for $2/lb or less. Frozen pizza for $5 or less. Most canned veggies for under a buck a can, sometimes 2 for a buck.

I stay away from the pre-packaged frozen meals most of the time.

When I saw eggs for $5/dozen a few months back, I just didn't buy them.



I had this discussion on another board not too long ago. I went back into my files when I used to keep receipts (don't ask me why). I found grocery receipts from about 2010 or '12 and compared them to recent receipts. Even posted screen shots because people didn't believe me. There was virtually no real difference in prices for most items. Of course some items were different, but not most.

 

[Buffalogurl]

I eat what I want. I shop a number of places. I still get eggs for a buck a dozen at times and bread for a buck or two a loaf. I don't eat high dollar beef, but I still get boneless/skinless chicken breasts for $2/lb like I did 10 years ago. Shrimp for about $3-4/lb. Pork loins for $2/lb or less. Frozen pizza for $5 or less. Most canned veggies for under a buck a can, sometimes 2 for a buck.

I stay away from the pre-packaged frozen meals most of the time.

When I saw eggs for $5/dozen a few months back, I just didn't buy them.



I had this discussion on another board not too long ago. I went back into my files when I used to keep receipts (don't ask me why). I found grocery receipts from about 2010 or '12 and compared them to recent receipts. Even posted screen shots because people didn't believe me. There was virtually no real difference in prices for most items. Of course some items were different, but not most.

With all respect, where do you shop for your groceries?

 

[Buffalogurl]

I want to know what you are eating and where you shop.

That's what I would like to know as well..

 

[Buffalogurl]

S&P back over 5,600 and within striking range of a new record.

Ask any real money managers or folk that do investments, the stock market is not a good barometer of how well the economy is performing... you need to "dig" deeper for better and more accurate information.....
Keep in mind this, a significant amount of stock trading is performed by algorithms and the trades are done on changes as small as 25% of a penny (1 cent) and with world War 3 commencing the world's investor community are looking for safe havens for their money.....

 

[schism666]

Ask any real money managers or folk that do investments, the stock market is not a good barometer of how well the economy is performing...

you just spit in the face of your fellow economic innumerates with that crap.

 

[Bray123]

Anyone who has done the obvious and shorted DJT stocks won't have issue with the price of eggs.

 

[schism666]

With all respect, where do you shop for your groceries?

curious - do you buy less groceries? drive your car less? have you had to relocate because all of the sudden in the past 3 years your finances went to shit?

none of this has happened to you unless you lost your job under trump and can't find one because biden's unemployment rate has been fire .