re: Economic Update

quote:

---

Oil production is at an all time high and we've never been in a better position in the energy sector as a whole.

---

Amazing what the American people can accomplish in defiance of Joe Biden and lunatic Democrat and WEF climate change policies that are designed to restrict production of oil/gas.

quote:

---

Home foreclosures at an all time high

---

This just isn't true. Nothing will top 2010 for foreclosures. 2008 was the start but 2010 was the plateau and I hate Biden but don't lie when the data is easily searchable.

quote:

---

The SPR drawdown was a stop gap measure to buy the industry time to catch up. You're welcome to disagree with it but production is driven by the private sector

---

The fact you might actually believe this tells me you need to be kept away from machinery and sharp objects.

SPR releases were SOLELY to force prices down prior to the 2022 elections and if you think otherwise Sheila Jackson Lee beats you regularly at Tic-tac-toe

quote:

---

Unemployment is at 3.7%
(Unemployment of 5% or lower is often considered full employment in a real-world context.)

---

The way unemployment is calculated is anything but "real world."

And prices vs 2019 are where?

Or maybe you can describe wages vs inflation?

You’re putting lipstick on a pig.

quote:

---

The way unemployment is calculated is anything but "real world."

---

And has been this way for decades

None of what the is posted is true “Fake News” - it’s just bs by the media to try to help Biden. Betting he got that info from the msm. Lol idiot

We all live in the real world and in that world we are barely above a 3rd world country as far as the economy goes.

quote:

---

Gas is 2.17 at Sam's.

---

Lowest I've seen in NC is 2.87

it's interesting that as we turn the corner into Joe's last year, an election year,- gas suddenly is dropping

2 wars just started...billions given out we don't have

imagine my shock gas is looking more attractive for Democrat economic talking point to run on in 24...

Democrats hate Oil and fossil fuels, they want to destroy these sectors in our economy... I mean they have said as much ...humanity is on the line here

quote:

---

So we can only talk about the negatives on the economy?

---

No, we take it within context.

quote:

---

Gas is 2.17 at Sam's.
Dow Jones Industrial Average is at a record high (37,305)
Unemployment is at 3.7%
(Unemployment of 5% or lower is often considered full employment in a real-world context.)

---

Before I get started, I'm going to need a link to that gasoline price at Sam's. I just filled up with my Benny's discount and it was only in the $2.30 range.

Inflation is remaining sticky at 3% (4% for Core CPI), the big driver in it being even that low is energy prices coming down from their high prices last year. Those prices are looking better, but they haven't been low enough nearly long enough to permeate throughout the economy.

Also, keep in mind that Food, which is a staple, isn't weighted by propensity of purchase so often-purchased items like bread, soft drinks, chips and ground beef are still high and (in many cases) rising.

Real GDP growth from Q2 of this year to Q3 was 1.3%, meanwhile consumer credit card debt grew by 2% in the same period. This would indicate a lot of the profits driving market momentum are coming in on the backs of rocketing consumer debt. That's not a recipe for long-term economic prosperity.

Along with all this, the yield curve is inverted. Every recession has been preceded by the yield curve inverting (technically it's 6-12 months after the yield curve reverts to normal behavior). Adding the return of student loan repayments creates even more pressure on consumers already trying to over-offset inflation on the backs of their credit cards (we see the beginnings of the problems already with steadily rising credit card delinquencies and vehicle repossessions).

So the context is that there are some positives, but they are few and the promotion of them serves mainly just to mask the fact that there are some very serious economic issues out there that may well signal bigger economic problems over the next couple of years.

a family of four is going to spend over $12,000. a year more then 4 years ago