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The Economy

An interesting look at renting vs buying.

Owning a home has rarely been this much more expensive than renting

On paper, owning a home is almost always more expensive than renting — about 14% more, on average, after factoring in expenses like insurance, taxes, and upkeep.

But the difference has grown much more extreme in recent years as just about all homeownership costs have ballooned.

How extreme? Exact cost estimates vary, but recently the premium for homeownership has been at least 35% over renting, a level that’s near historical highs and is likely to persist.
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Nationwide, median rents rose just 0.2% in October from a year earlier, according to Redfin.
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MajorRewrite said:
An interesting look at renting vs buying.

Owning a home has rarely been this much more expensive than renting
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Probably because landlords have pushed their rents to the breaking point over the past few years, coupled with all the rental homes bought up by management companies.

They HAVE STILL created a "new normal" with high rental prices and low home availability that may trigger a major revolt among the populace in a few years when DonOld FAILS to deliver on all his farcically empty promises.

Interesting times…

🍿
 
An editorial about Trump’s embrace of mercantilism. It includes a long review of recent economic history. Worth a read.

A New World Order Is Here, and It Looks a Lot Like Mercantilism

The UK, the Netherlands and France all built big empires, and created great wealth using the mercantile model. But all abandoned it — amid revolution, in the case of France. It turned out that trade and the economy aren’t zero-sum games, and Industrial Britain managed to grow more by following the principles of free trade. It looks as though the world is going to have to learn that lesson again — and this time it will do so in an environment where colonizing large tracts of the world to gain access to trade and resources is no longer an option.
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Lazaran said:
Probably because landlords have pushed their rents to the breaking point over the past few years, coupled with all the rental homes bought up by management companies.

They HAVE STILL created a "new normal" with high rental prices and low home availability that may trigger a major revolt among the populace in a few years when DonOld FAILS to deliver on all his farcically empty promises.

Interesting times…

🍿
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All he has to do is secure the border.....not that farcical.
 
UltraChad said:
Yea that top 10% that the government has decided get to be elite are doing great!!!

What about the other 90%?? :D
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Chad likes to pretend the economy is bad. As soon as Trump is in office, Chad will use these same economic reports to proclaim Trump is an economic miracle (if the data continues to be positive). 😆
 
Personal Income and Outlays, October 2024

Personal income increased $147.4 billion (0.6 percent at a monthly rate) in October, according to estimates released today by the U.S. Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $144.1 billion (0.7 percent) and personal consumption expenditures (PCE) increased $72.3 billion (0.4 percent).
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Income growth outpaced inflation.

From the same month one year ago, the PCE price index for October increased 2.3 percent (table 7). Prices for goods decreased 1.0 percent and prices for services increased 3.9 percent. Food prices increased 1.0 percent and energy prices decreased 5.9 percent. Excluding food and energy, the PCE price index increased 2.8 percent from one year ago.
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Inflation still isn’t down as far as the Fed wants, but most of the problem is with healthcare and rent, for which there is no quick fix.
 
Record-setting travel is an indicator of a strong economy.

More than 3 million travelers screened at US airports in a single day. That’s a record

The Transportation Security Administration said Monday that it handled 3.09 million travelers on Sunday, breaking the previous record by about 74,000. That mark was set on July 7, also a Sunday after a holiday.
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The TSA had predicted that Thanksgiving week air travel would rise 6% over the same days last year, fitting a pattern of record travel in 2024.
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Millions of jobs are available for those who are looking.

Job Openings and Labor Turnover Summary

The number of job openings was little changed at 7.7 million on the last business day of October, the U.S. Bureau of Labor Statistics reported today. Over the month, hires changed little at 5.3 million. The number of total separations was little changed at 5.3 million. Within separations, quits (3.3 million) increased, but layoffs and discharges (1.6 million) changed little.
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There are going to be a lot of low paying farm jobs available next spring. Who’s going to fill them? How much will farmers and ranchers need to pay to attract a reliable workforce?

How will the cost of groceries be affected?
 
AlexBailey said:
There are going to be a lot of low paying farm jobs available next spring. Who’s going to fill them? How much will farmers and ranchers need to pay to attract a reliable workforce?

How will the cost of groceries be affected?
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You’re assuming that Trump does anything other than lowering taxes on rich people and golfing. There will be so much golf. Nobody has ever seen so much golf. Bigly golf.

I don’t think raising wages would be enough to get sufficient numbers of Americans to pick tomatoes in the fields. The unemployment rate is low so people aren’t that desperate for work. The crops that still require human harvesting will just rot in the fields, I guess. We’ll end up importing even more vegetables and fruits from Mexico (law of unintended consequences). 👍
 
Food and Drinks

Published December 3, 2024 11:26am EST

Cargill to lay off thousands of workers amid falling commodity prices​

Workforce reduction equates to about 8,000 job​



By Daniella Genovese FOXBusiness

Cargill, the largest private company in the U.S., is trimming its global workforce as it faces pressure related to lower commodity prices.

The Minnesota-based company, which is also one of the world’s largest globally active agricultural commodity traders, told FOX Business that approximately 5% of its workforce are being laid off. That equates to about 8,000 jobs.

Cargill said the layoffs are part of a "long-term strategy" that the 160-year-old company laid out earlier this year.

"As we look to the future, we have laid out a clear plan to evolve and strengthen our portfolio to take advantage of compelling trends in front of us, maximize our competitiveness, and, above all, continue to deliver for our customers," the company said in a statement.

https://www.foxbusiness.com/lifesty...ousands-workers-amid-falling-commodity-prices

Bidenomics at work.
 
Rightguide said:
Food and Drinks

Published December 3, 2024 11:26am EST

Cargill to lay off thousands of workers amid falling commodity prices​

Workforce reduction equates to about 8,000 job​



By Daniella Genovese FOXBusiness

Cargill, the largest private company in the U.S., is trimming its global workforce as it faces pressure related to lower commodity prices.

The Minnesota-based company, which is also one of the world’s largest globally active agricultural commodity traders, told FOX Business that approximately 5% of its workforce are being laid off. That equates to about 8,000 jobs.

Cargill said the layoffs are part of a "long-term strategy" that the 160-year-old company laid out earlier this year.

"As we look to the future, we have laid out a clear plan to evolve and strengthen our portfolio to take advantage of compelling trends in front of us, maximize our competitiveness, and, above all, continue to deliver for our customers," the company said in a statement.

https://www.foxbusiness.com/lifesty...ousands-workers-amid-falling-commodity-prices

Bidenomics at work.
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BiDEnOMicS aT woRK!!!! 😆

Of course it has nothing to do with Biden or the government. Comrade RightGuide is economically illiterate.

Falling grocery prices are exactly what everyone has wanted.

Cargill's profits skyrocketed during the pandemic and the inflation that came afterwards as global instability kept food prices high. Now that grocery prices are dropping, the company is having to tighten its belt.
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https://www.independent.co.uk/news/...duction-company-layoffs-cargill-b2658355.html
 
US economy adds 227,000 jobs in November

Data from the Bureau of Labor Statistics released Friday showed 227,000 new jobs were created in November, just above the 220,000 expected by economists. The unemployment rate increased to 4.2%.
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Compared to the prior year, wages rose 4% in November, more than than 3.9% that had been forecast.
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The economy continues to show strength, adding jobs and growing wages. And the strength is in spite of interest rates that are still high.
 
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