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Started By
Message
re: 2.8% GDP Growth in Q3
Posted on 10/30/24 at 8:46 am to HottyToddy7
Posted on 10/30/24 at 8:46 am to HottyToddy7
quote:
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.
x 1000
0
Posted on 10/30/24 at 8:46 am to mmmmmbeeer
quote:
Inflation back down to 1.5%
I might be wrong, but the PCE ( personal consumption expenditures price index) is only showing that inflation is below normal (under the 2% FED target) for a 3 month period. We should have hit and sustained this benchmark 2 years ago.
The article also states this fact: " ...the PCE index has risen nearly 17% while Harris has served as vice president"
The article also states: "...a relentless wave of government spending that pushed the budget deficit to more than $1.8 trillion in fiscal 2024."
And this: "Another major factor the department cited for growth was federal government spending, which exploded higher by 9.7%, pushed by a 14.9% surge in defense outlays."
Also: " inflation that remains above target, though far from its peak in mid-2022..."
This post was edited on 10/30/24 at 8:47 am
Posted on 10/30/24 at 8:46 am to TheEnglishman
quote:
Its because we are so polarized that we can't see anything for truth without first thinking about who it favors.
the problem with "liberal" economics is it benefits the wealthy and creates a situation to where you have to stabilize the poor with welfare or they'll become a dangerous underclass.
It stretches the economy to where the floor is too high for most poor people to compete. They have to be artificially lifted, which is not sustainable.
Right now I am simultaneously loving my 401k, but praying that prices decrease as its made day to day living more difficult. Thats a paradox.
Those without wealth will suffer greatly. under liberal economics.
Posted on 10/30/24 at 8:47 am to mmmmmbeeer
quote:
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.
no they arent
its very simple...when we look at real world wage growth...things look like shite.
I work in a sector that is very much on the front end of trends and our business outlook is not good.
trust me...the economy by any real measure and not made up BS looks like shite other than the market which is mainly fueled by inflation and deficit spending
Posted on 10/30/24 at 8:48 am to mmmmmbeeer
Why is it so hard for people to grasp the concept of inflation correlated with growth and how one is outpacing the other?
Posted on 10/30/24 at 8:48 am to mmmmmbeeer
quote:
Why is everyone saying the economy sucks? B
because they want Trump to win
Posted on 10/30/24 at 8:52 am to Dire Wolf
quote:
because they want Trump to win
Or because the economy does suck and it's directly related to the Biden/Harris administration.
Posted on 10/30/24 at 8:54 am to Dire Wolf
quote:
because they want Trump to win
Lazy arse answer.
Posted on 10/30/24 at 8:54 am to mmmmmbeeer
You literally fantasize about dudes filling up your teenage daughter's pussy with jizz.
She must be 18 by now, drop that OF handle brah.
She must be 18 by now, drop that OF handle brah.
Posted on 10/30/24 at 8:55 am to JoylessMurderball
quote:
Or because the economy does suck
Exactly. If the economy is working, why the hell do we have to continually stimulate it with debt?
Posted on 10/30/24 at 8:57 am to Dire Wolf
The economy is doing ok in spite of the government. Inflation & prices are still too high. Consumers are burning through credit and savings. But, The US is one of the only countries worth investing in right now and into the foreseeable future. And Biden, despite his senility, is still more coherent economically than what the Harris/Waltz socialist wonder twins will do if they get in office.
Posted on 10/30/24 at 8:58 am to Hobie101
quote:
In addition to this, we are doing so much better than the west of the developed world.
We aren't comparing ourselves to the rest of the developed world. We're comparing ourselves to the 4 Trump years that were better than now.
Posted on 10/30/24 at 9:00 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.
Is this a troll? Do you go to the fricking store and buy products? shite is astronomical.
Posted on 10/30/24 at 9:05 am to mmmmmbeeer
People are making more money but are broker than ever because shite costs so much.
My family of 4 spends over $3k per month just on food. When the median household income is twice your food bill then you have a problem.
OP must live in their parents basement.
My family of 4 spends over $3k per month just on food. When the median household income is twice your food bill then you have a problem.
OP must live in their parents basement.
Posted on 10/30/24 at 9:06 am to mmmmmbeeer
U-1, U-2, U-4, U-5, and U-6 have all been increasingly steadily for a full two years now. That doesn’t typically happen in a healthy, robust labor market.
Combine that with the vast majority of inflation these last few years being highly concentrated in needs based consumption, whereas luxury consumption prices are the ones that are falling. So folks who only have enough money to cover the minimum needs of existence are finding life a lot more difficult, whereas those who were already well off aren’t feeling inflation as badly (because the higher price of food, housing and insurance are being moderated by lower prices of electronics, entertainment, and furniture).
What we have is a drastically stratifying economy. If you’re top 60% of income earners, you’ve probably been enjoying the economy for the last couple of years. If you’re bottom 40%, it’s becoming real damn difficult to just maintain your status quo.
For all the bluster about the OT millionaires, I think the communication patterns of this board likely reveal where a majority of posters fall on the income spectrum
Combine that with the vast majority of inflation these last few years being highly concentrated in needs based consumption, whereas luxury consumption prices are the ones that are falling. So folks who only have enough money to cover the minimum needs of existence are finding life a lot more difficult, whereas those who were already well off aren’t feeling inflation as badly (because the higher price of food, housing and insurance are being moderated by lower prices of electronics, entertainment, and furniture).
What we have is a drastically stratifying economy. If you’re top 60% of income earners, you’ve probably been enjoying the economy for the last couple of years. If you’re bottom 40%, it’s becoming real damn difficult to just maintain your status quo.
For all the bluster about the OT millionaires, I think the communication patterns of this board likely reveal where a majority of posters fall on the income spectrum
Posted on 10/30/24 at 9:07 am to mmmmmbeeer
quote:
Consumer spending still strong.
You do realize that consumer spending is not always a good thing. In this case consumer spending has led to record high credit card debt. People are spending money they don't have just to survive.
quote:
Inflation back down to 1.5%.
sure Jan quote:
Oh, and the Fed has signaled another meaningful rate cut will be coming in the next couple of weeks.
Even after the last cut, mortgage rates have climbed back to 7%
Posted on 10/30/24 at 9:10 am to mmmmmbeeer
Hope you weren't looking for reasonable responses.
Posted on 10/30/24 at 9:11 am to KWL85
There are a lot of reasonable responses here, you just dont understand them.
Posted on 10/30/24 at 9:11 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.
all of this is meaningless. Propped up by historic deficit spending. It's a house of cards. The current admin has destroyed the dollar. You're falling for it because it's what you want to hear. You're ignorant.
Posted on 10/30/24 at 9:12 am to mmmmmbeeer
quote:
Is this negativity driven by the media?
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