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Posted on 8/2/24 at 5:26 pm to cbree88
The Fed understands their policies have been unproductive in terms of lowering price levels and have injected volatility into short term rate markets all while unemployment has bottomed
Posted on 8/2/24 at 5:54 pm to Nole Man
quote:He should just stick to playing the cello...
said Yung-Yu Ma
Posted on 8/2/24 at 6:20 pm to cbree88
Following England’s lead and yes election season is upon us.
Posted on 8/2/24 at 7:11 pm to cbree88
You really are stupid
Posted on 8/2/24 at 7:20 pm to jizzle6609
quote:
People are broke.
No, the govt. is broke. Think about how much interest payments are on $35 trillion in debt.
Posted on 8/2/24 at 7:20 pm to Chucktown_Badger
quote:
Still 65% above their 2% target.
Core on truflation is 1.5, 3% on CPI and 2.5% on PCE
Truflation uses better and much more data
And shelter is the majority and they dont report accurate info
Posted on 8/2/24 at 7:34 pm to Knuckle Checker
quote:
This is all a result of economic policies over the last 40 years. No president can fix this, the system needs to crash.
We have been holding off the crash since 2008 with quantitative easing. All that does is pass the buck and make the eventual crash even worse.
Buckle up.
You're right, the supply-side economic policies of the last 40 years have been an unmitigated disaster.
The system doesn't need to crash to be reset. GDP is growing, a full blown pandemic only dropped us to ~11% unemployment, stock market is at record levels, our debt sure as shite isn't scaring investors enough to sink tbills. A contraction is inevitable, not a crash.
If anything is going to see a hard reset, it's going to be labor. People are fed the frick up with supply side economics. They're sick of the majority of tax cuts going to businesses and the ultra-wealthy. They're sick of seeing their employers recording record revenues/profits while they're laying off folks at the same time. They're sick of their wages not keeping up with inflation. A lot of people don't even get annual merit or cost-of-living increases. American labor production/productivity has done nothing but go upward while we, the people who actually DO the fricking work, haven't reaped any of the benefits. It won't even necessarily be organized labor, but there's a fricking reckoning coming within the next 10-15 years, imo.
Posted on 8/2/24 at 7:48 pm to Corriente Kid
quote:Man, I’m not trying to be an arse, but you don’t know what you’re talking about.
There was not runaway inflation when Trump was President which is why interest rates were low.
Think of the economy like an engine. It was running hot when Trump was president. Yeah it was running good, but like any engine it can only run hot for so long. Instead of cooling it down through interest rate hikes, rates stayed low and that just made things run even hotter. Then Covid happed and the rates were dropped to historic lows. That was like adding NOS to an already red hot engine. Well that engine threw a rod in 2021 and we’ve been limping along ever since
Posted on 8/2/24 at 7:56 pm to cbree88
Because people need more free stuff at home to play more often
Posted on 8/2/24 at 9:00 pm to TBoy
quote:
Did you speak out when Trump was beating up the Fed, demanding lower rates when they were already historically low?
THanks T Soy.
We were in an entirely different place economically so it's not a valid comparison, but we appreciate you logging in and making sure you reminded us of your TDS. Have a good weekend baw.
Posted on 8/2/24 at 11:08 pm to mmmmmbeeer
quote:
They're sick of the majority of tax cuts going to businesses and the ultra-wealthy.
You lost me there. Trump tax cuts made a noticeable impact for our family, and we're as low middle class as they come. Family of four with joint income of $125k in Indiana.
This narrative that Republicans only cut taxes for the rich and corporations is objectively false.
Posted on 8/2/24 at 11:15 pm to cbree88
quote:
Why the hell is the Fed thinking about lowering interest rates?
The only reason now is to help the current administration. It would be a political move.
The stated goal of the Fed is 2% inflation. We are still well above 2% around 2.9%.
At most the Fed should raise rates 25 bps or at least do nothing.
This post was edited on 8/2/24 at 11:30 pm
Posted on 8/2/24 at 11:22 pm to TigerFanatic99
quote:
Family of four with joint income of $125k in Indiana.
If Kamala wins and based on $125k annual income the likelihood of you paying approximately $2k more in federal income taxes a year is very high. She will veto legislation to extend the Trump tax cuts. Trump will keep the current rates in place.
Posted on 8/2/24 at 11:27 pm to TigerFanatic99
You lost me there. Trump tax cuts made a noticeable impact for our family, and we're as low middle class as they come. Family of four with joint income of $125k in Indiana.
____________________________________
How? For my family of 3 at $350K/yr (all W2) in Texas, taxes sure in the hell increased. Capping SALT was a major difference since the home taxes in Texas are ridiculous, even though there is no state income tax.
Maybe I need a new accountant to find loopholes.
____________________________________
How? For my family of 3 at $350K/yr (all W2) in Texas, taxes sure in the hell increased. Capping SALT was a major difference since the home taxes in Texas are ridiculous, even though there is no state income tax.
Maybe I need a new accountant to find loopholes.
Posted on 8/2/24 at 11:34 pm to BayouChamp
At $350k a year your federal income tax liability will increase about $20k.
Just find and online 2015 federal income tax calculator and compare it to the 2024 income tax calculator. If the Trump tax cuts expire in 2025 and congress does nothing else we are going back to 2015 rates.
Just find and online 2015 federal income tax calculator and compare it to the 2024 income tax calculator. If the Trump tax cuts expire in 2025 and congress does nothing else we are going back to 2015 rates.
Posted on 8/3/24 at 1:17 am to jizzle6609
quote:
People are broke.
If anyone is broke after the past 7 years they made major mistakes in decision making.
Posted on 8/3/24 at 1:22 am to cbree88
quote:
Did you speak out when Trump was beating up the Fed, demanding lower rates when they were already historically low?
So many policy decisions made pre-COVID were horrible. Keeping interest rates low well after they should have been raised and keeping gas prices low based on a reliance on foreign oil were about the worst.
Posted on 8/3/24 at 1:23 am to Corriente Kid
quote:
quote:high inflation paired with a sluggish economy with rising unemployment. We're almost there
Fingers crossed we are almost there.
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