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Started By
Message
re: 2.8% GDP Growth in Q3
Posted on 10/30/24 at 8:28 am to mmmmmbeeer
Posted on 10/30/24 at 8:28 am to mmmmmbeeer
Consumers are spending themselves into debt.
1
Posted on 10/30/24 at 8:29 am to Randall Savauge
quote:
man, i went get antibiotics prescriptions for my kids, $150, just normal stuff. I've never spent more than $20 on prescriptions. But of course our health insurance changed this year. So of course i'm spending more.
Look into GoodRX.....sometimes I get better deals on meds using GoodRX than I do with my pretty good insurance. It's free to use.
Posted on 10/30/24 at 8:29 am to DarthRebel
quote:
You are a known liberal that thinks about his daughter getting cream pied.
How you still have the nerve to post here after that is staggering.
Seriously, that’s the single most embarrassing post ever made on this site, a site which also includes SammyTiger.
Posted on 10/30/24 at 8:29 am to mmmmmbeeer
quote:
Fed has signaled another meaningful rate cut will be coming in the next couple of weeks.
You do realize that interest rates are actually going up despite the Fed making cuts right? Another .25% will not change that direction because the market has lost faith in the fiscal responsibility of the United States government.
quote:
Why is everyone saying the economy sucks?
There are certainly pockets of the economy doing well, but most of the classical warning signs of recession were flashing before the first Fed rate cut. High interest rates, which are not being changed by meaningless Fed rate cuts are killing small businesses. Bankruptcies are up significantly this year vs. last year. Does that sound like a healthy economy to you?
quote:
September 2024 Year-Over-Year Highlights
Bankruptcy filings including all chapters totaled 42,532, a 14% increase from the September 2023 total of 37,360.
Commercial chapter 11 filings increased 26 percent to 734 in September 2024 from the 585 filings recorded in September 2023.
Commercial filings were 2,422, a 9 percent increase in September 2024 compared to the 2,225 filed in September 2023.
Subchapter V small business elections increased 9 percent to 167 in September 2024 from the 153 filings last September.
Individual filings increased 14% to 40,110 in September 2024 from the 35,135 filed in September 2023.
LINK
Posted on 10/30/24 at 8:32 am to TigerinATL
quote:
Bankruptcies are up significantly this year vs. last year.
Bankruptcies are a lagging indicator and are not indicative of today's economy. 2022-2023 inflation was a killer with how rapid it hit us...people get in a hole and it's damn tough to dig out. They don't file bk until they give up, thus why it's a lagging indicator.
Posted on 10/30/24 at 8:32 am to mmmmmbeeer
quote:
So why the disconnect? Are we becoming so stratified as a society that our view of what a great economy looks like is now skewed? I mean, my investments look fantastic but my budget doesn't stretch like it used to. If I were a rich mofo, I'd be loving this economy.
It is 1 week from an election and the incumbent party is trying to make you think the economy is strong. It isn't hard to figure out.
The government is lying to you like they always do.
Posted on 10/30/24 at 8:33 am to DarthRebel
quote:
You are a known liberal that thinks about his daughter getting cream pied. How you still have the nerve to post here after that is staggering.
Yeah, shocked he hasnt changed his username
Thats what acreboy did
Posted on 10/30/24 at 8:34 am to mmmmmbeeer
quote:
Why is everyone saying the economy sucks?
Because the inflation rate is just the average compared to a year ago, not what consumers have experienced over a longer term. Over the last 3 years prices have gone up an average of 20% (and that amount is increasing), that's why people are saying the economy sucks.
quote:
The takes just don't match reality.
You suffer from short-sightedness. Your "reality" is that of the frog in the pot of water when the heat is slowly being increased. Not everyone is happy to boil to death.
Along with that, inflation is a function of too much money chasing too few goods and services. Lowering lending rates and continued out-of-control debt creation is not a formula for long-term economic stability.
Posted on 10/30/24 at 8:34 am to mmmmmbeeer
quote:
Fortunately, we didn't spike like we did in the late 70's and 80's.
"The Great Inflation" between 65 and 85 killed the working class.
Theyre' doing it now to the middle class. We will be left with wealthy and the poor serfs to do their work.
Its not due to our economic system, its due to politicians being unable to control spending. Importing millions of unskilled workers makes the problem double.
This post was edited on 10/30/24 at 8:35 am
Posted on 10/30/24 at 8:35 am to mmmmmbeeer
quote:
When inflation comes and goes, prices don't go back to pre-inflation levels. Never have and never will. Fortunately, we didn't spike like we did in the late 70's and 80's.
I think it hit so quickly this time, due to COVID, that we all got some sticker shock and keep expecting prices to drop back down to where we CLEARLY remember them being so recently.
Which is precisely the reason why we need to stop this and get the current administration TF out of the WH.
Posted on 10/30/24 at 8:38 am to RogerTheShrubber
quote:
Theyre' doing it now to the middle class. We will be left with wealthy and the poor serfs to do their work.
Holy shite. Rog and I agree. Stratification as an inevitable move towards an oligarchic society and the death of the American dream. We likely disagree on some of the contributing factors, but you're spot on. And it's terrifying.
Posted on 10/30/24 at 8:38 am to mmmmmbeeer
quote:
Slightly missed the 3.1% expectation but still strong. Consumer spending still strong. Markets at/near record highs. Inflation back down to 1.5%. Unemployment still below 5%. Incomes are up. Oh, and the Fed has signaled another meaningful rate cut will be coming in the next couple of weeks.
Why is everyone saying the economy sucks? By nearly every measure, we're truly thriving right now. Is this negativity driven by the media? The takes just don't match reality. We're kicking the rest of the world's arse since COVID and it's not particularly clo
umm because the economy does fricking suck.
the incomes you claim are up, are not up compared to inflation....not even close to making up the inflation for the last couple of years.
in terms of real dollars I make way way less than I did before Biden. way less. way less than I did during covid
can frick right off with your liberal bullshite.
country is 100x worse than 2019.
Posted on 10/30/24 at 8:40 am to pankReb
quote:
Which is precisely the reason why we need to stop this and get the current administration TF out of the WH.
Kamala is proposing price controls.
Anyone who thinks price controls are an answer is a danger to themselves and others.
Her price controls would make the issue much much worse, create long lines and shortages, starvation.
Posted on 10/30/24 at 8:40 am to RogerTheShrubber
quote:
"The Great Inflation" between 65 and 85 killed the working class.
Theyre' doing it now to the middle class. We will be left with wealthy and the poor serfs to do their work.
Its not due to our economic system, its due to politicians being unable to control spending. Importing millions of unskilled workers makes the problem double.
damn...me and roger agree...holy shite. spot on with this.
Posted on 10/30/24 at 8:40 am to RogerTheShrubber
quote:
Kamala is proposing price controls.
Anyone who thinks price controls are an answer is a danger to themselves and others.
Her price controls would make the issue much much worse, create long lines and shortages, starvation.
god damn it roger....this is how you post....from now on...this is how you post!!!!!
Posted on 10/30/24 at 8:41 am to lsu777
quote:
god damn it roger....this is how you post....from now on...this is how you post!!!!!
Replyreplies0...
This is my poli board side.
Posted on 10/30/24 at 8:42 am to mmmmmbeeer
quote:
Why is everyone saying the economy sucks? By nearly every measure, we're truly thriving right now. Is this negativity driven by the media? The takes just don't match reality. We're kicking the rest of the world's arse since COVID and it's not particularly close.
Its because we are so polarized that we can't see anything for truth without first thinking about who it favors.
"the truth is much more frightening. Nobody is in charge, the world is rudderless"
- alan moore.
Posted on 10/30/24 at 8:43 am to lsu777
quote:
can frick right off with your liberal bullshite.
This isn't a liberal or conservative thing, man. That's not why I posed the question.
Historically, if you showed an economist today's indicators, they would probably say we're experiencing the strongest economy in decades. Hell, economists are saying that now. These economic indicators look much better than they did under Trump but we all felt better economically under Trump. Wtf?
We're undergoing a huge societal shift. You're living history. I'm just trying to make some sense of what's happening.
Posted on 10/30/24 at 8:43 am to mmmmmbeeer
Crime is down, crime is down!!!! as you're being pushed in front of a subway train
Posted on 10/30/24 at 8:45 am to mmmmmbeeer
Never believe any statistic put out by the federal gov't. They are always wrong. Always.
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