The Economy

[MajorRewrite]

You dont even realize how the link doesnt prove what you think it does

It does prove what I think it does.

Your lack of brainpower caused you to fail again. Here’s another Economic Dunce Award .

Poor noitall/lessOHmo/censurat/snailspace. It must be difficult going through life and understanding nothing around you.

 

[Noitall]

Credit card delinquency is not even close to all-time highs:

https://fred.stlouisfed.org/series/DRCCLACBS

You continue to be hilariously economically illiterate. Here’s your “Economic Dunce Award”

Im going to educate IT

No one said credit card delinquency at all time highs!!!!!!!!!! Nevertheless it posts a useless link............and BANKS arent the only issuer of CC

what was said was

Credit credit card debt all-time highs


Delinquencies spiking 60 day late notices all time high

 

[Noitall]

Fucking LOSER

 

[MajorRewrite]

Fucking LOSER

You’re the most hilarious moron in this forum, which is saying a lot considering that Cherno and RightGuide exist.

Here’s your “Moronic Meltdown Award”

 

[MajorRewrite]

There are 7,624,000 more people employed in America now in August 2024 than in August 2019 (the Trump administration pre-pandemic).

Total employment
August 2019: 151,155,000
August 2024: 158,779,000

https://fred.stlouisfed.org/series/PAYEMS

 

[MajorRewrite]

Real Gross Domestic Product (GDP, inflation adjusted) is $2.34 trillion higher now than at the high point of the Trump administration.

Q2 2019: $20.584 trillion
Q2 2024: $22.924 trillion

https://fred.stlouisfed.org/series/GDPC1

 

[MajorRewrite]

Inflation: Consumer prices rise at slowest pace since early 2021

The Consumer Price Index (CPI) increased 2.5% over the prior year in August, a deceleration compared to July's 2.9% annual gain in prices and the lowest annual rate since early 2021.

Good progress.

 

[Noitall]

if you dont eat, heat homes, use gas n pay for shelter
all is good

 

[MajorRewrite]

if you dont eat, heat homes, use gas n pay for shelter
all is good

https://www.bls.gov/news.release/cpi.nr0.htm

Food prices increased only 0.9% over the last 12 months.

Home heating:
Fuel oil prices decreased 12.1% over the last 12 months.
Natural gas prices decreased 0.1% over the last 12 months.
Electricity prices increased 3.9% over the last 12 months (booo!)

Gasoline prices decreased 10.3% over the last 12 months.

Shelter prices increased 5.2% over the last 12 months (boooo!)

Does Trump have a “concept for a policy” in his head for a way to lower housing costs?

 

[MajorRewrite]

if you dont eat, heat homes, use gas n pay for shelter
all is good

And remember that for the majority of Americans, the price of shelter is fixed because they own a home. 65% of US households own their home. They aren’t impacted by rising home prices.

 

[Noitall]

And remember that for the majority of Americans, the price of shelter is fixed because they own a home. 65% of US households own their home. They aren’t impacted by rising home prices.

no of course not

cause oil and nat gas prices DONT go up
home repairs DONT go up
insurance DOESNT go up
real estate taxes DONT go up

 

[MajorRewrite]

no of course not

cause oil and nat gas prices DONT go up
home repairs DONT go up
insurance DOESNT go up
real estate taxes DONT go up

Above I showed that fuel oil and natural gas prices decreased over the last year, but again you whine about them.

You sure do enjoy whining. What’s it like going through life whining like a petulant 4-year-old? I guess you got that from Trump.

 

[butters]

The morning after the debate, the Wall Street Journal's David Uberti reported on the state of inflation in the U.S. — stressing that inflation had "eased, in August, to new three-year lows."

In response to the news on inflation, CNBC's Carl Quintanilla tweeted that the U.S. had its "lowest annual headline inflation rate since Feb 2021."

On X, formerly Twitter, former National Economic Council Deputy Director Bharat Ramamurti posted, "The US has reached the end of the post-COVID global inflation surge. Thanks to Biden-Harris policies, it got through that surge with more economic growth and wage growth than any of its competitors, and with lower unemployment than at any time in the Obama and Bush presidencies."

https://www.msn.com/en-us/money/mar...&cvid=c303423a674d49c0bcb88bca411aedb4&ei=117

 

[Buffalogurl]

https://www.zerohedge.com/economics...y-soars-despite-record-high-aprs-savings-rate
Hmmm if the economy is so robust why are people maxing out their credit cards, and they are burning through their savings?.....

 

[MajorRewrite]

https://www.zerohedge.com/economics...y-soars-despite-record-high-aprs-savings-rate
Hmmm if the economy is so robust why are people maxing out their credit cards, and they are burning through their savings?.....

Lots of credit card debt isn’t a good thing, but credit card delinquencies are below the delinquency rates of the 1990s and 2000s.

https://fred.stlouisfed.org/series/DRCCLACBS

Also it’s important to remember that the credit card debt totals you see aren’t inflation adjusted. Obviously we’ve just been through a period of inflation so people are incurring debt and paying it off with devalued money.

Adjusted for Inflation, Levels of Credit Card Debt Aren’t So Bad

When inflation is accounted for, it becomes evident that previous periods in recent history have seen higher debt burdens. American households, on average, appear to be managing their credit card debt more responsibly than in the past, and the ratios of credit card debt to deposits and total household debt to deposits are on favorable trajectories.

Anyway, debt is always something to keep an eye on, although the government has no way to control how much debt people take on.

 

[Rightguide]

Told you so. Boeing aerospace workers are asking for a 25% increase in their wages and plan to strike. Because of the increase in CA of the minimum wage the bottom line of Union wage progressions will rise by that amount and progressively all the way up those wage scales.

 

[ll74]

Told you so. Boeing aerospace workers are asking for a 25% increase in their wages and plan to strike. Because of the increase in CA of the minimum wage the bottom line of Union wage progressions will rise by that amount and progressively all the way up those wage scales.

Boeing didn't provide wage increases and now workers are demanding wage increases.

That has nothing to do with min wage changes. Companies who don't keep up with inflation for their workers will see this happen

 

[Noitall]

 

[MajorRewrite]

US household wealth rises in Q2 to record $163.8 trln

U.S. household wealth rose last quarter to $163.8 trillion, a fresh record, driven by gains in real estate values as well as a rise in the stock market, data from the Federal Reserve showed on Thursday.

The increase in the net worth of households and non-profits, which stood at $161 trillion at the end of the first quarter, was driven largely by a $1.8 trillion increase in the value of real estate holdings and a $700 billion gain in the value of equity holdings.

 

[butters]

the families bitching about 'Bidenomics', pushing stories about high fuel prices and 'runaway inflation' are the same ones smugly celebrating the new higher values of their houses.

 

[SevMax2]

US household wealth rises in Q2 to record $163.8 trln

Funny, I'm not seeing a rise myself. Not in purchasing power, anyway.

 

[lessOHmo]

the families bitching about 'Bidenomics', pushing stories about high fuel prices and 'runaway inflation' are the same ones smugly celebrating the new higher values of their houses.

Silly comment

If they sell, in addition to paying taxes, the home they would buy are up the same amount

N the increase I. Value isn't liquid unless one borrows bs it

You are illiterate

 

[MajorRewrite]

Funny, I'm not seeing a rise myself. Not in purchasing power, anyway.

The value of your house and stocks haven’t gone up?

The article said nothing about purchasing power, but if you read this thread you’ll find reports about inflation which continues to decline.

 

[SevMax2]

The value of your house and stocks haven’t gone up?

The article said nothing about purchasing power, but if you read this thread you’ll find reports about inflation which continues to decline.

I rent and I don't have stocks. I don't know what economy you're living in, but as I've said before....I'm now making more money than I've ever made and because of the cost of living, I'm still living paycheck to paycheck. Most of the people complaining about the high prices are lower to middle class folks like me. I was better able to afford a 401 k when I made a lot less, believe it or not. Not so much anymore. I don't even have that, anymore. It was disbursed when my former employer laid a bunch of us off in 2020, just before going out of business entirely. With my current cost of living and wage, I can't afford to invest these days, especially not with a disabled wife and a terminally ill sister-in-law, to whom I am the primary caregiver as well as working outside the home, in retail no less. What kind of bubble are you in, that you think life is great out here? It's not! It's God awful!

 

[MajorRewrite]

With my current cost of living and wage, I can't afford to invest these days, especially not with a disabled wife and a terminally ill sister-in-law, to whom I am the primary caregiver as well as working outside the home, in retail no less. What kind of bubble are you in, that you think life is great out here? It's not! It's God awful!

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.