US economy adds 353,000 jobs in January

[Circlejoe]

um 80% are worse off since joe took office. Thanks Joe!

A staggering 80% of American households are worse off than they were before COVID-19 — how to shore up your finances now before a strong current carries them away

Only the richest 20% have held onto their COVID savings.

finance.yahoo.com

and half of americans can't afford rent

https://www.cnn.com/2024/01/30/economy/rent-prices-dropping-2024-apartments/index.html#:~:text=Here's%20what's%20ahead,-By%20Anna%20Bahney&text=An%20increasing%20number%20of%20renters,a%20standard%20threshold%20for%20affordability.&text=Half%20of%20renters%20in%20the,following%20years%20of%20surging%20rents.

and credit card debt is at an all time high. Hmmm wonder why. Thanks Joe!!!

https://www.cnbc.com/2023/11/07/credit-card-balances-jump-to-1point08-trillion-record-how-we-got-here.html

Low-Wage Jobs Are Becoming Middle-Class Jobs

Millions of low-income families are experiencing less financial stress and even a modicum of comfort.

www.theatlantic.com

 

[Bowlmania]

And thanks to Joe and his dynamic economic team, the US is meeting that sweet spot, balancing jobs, inflation, unemployment, and growth. Thanks Joe!

It's hilarious that the biggest gloom-and-doomer here has almost certainly seen his net worth soar over the past few years. Guy's living off a trust fund or annuity or something, and apparently can maintain a pretty nice lifestyle without having to work.

 

[twenty02]

um 80% are worse off since joe took office. Thanks Joe!

A staggering 80% of American households are worse off than they were before COVID-19 — how to shore up your finances now before a strong current carries them away

Only the richest 20% have held onto their COVID savings.

finance.yahoo.com

and half of americans can't afford rent

https://www.cnn.com/2024/01/30/economy/rent-prices-dropping-2024-apartments/index.html#:~:text=Here's%20what's%20ahead,-By%20Anna%20Bahney&text=An%20increasing%20number%20of%20renters,a%20standard%20threshold%20for%20affordability.&text=Half%20of%20renters%20in%20the,following%20years%20of%20surging%20rents.

and credit card debt is at an all time high. Hmmm wonder why. Thanks Joe!!!

https://www.cnbc.com/2023/11/07/credit-card-balances-jump-to-1point08-trillion-record-how-we-got-here.html

Crab prices should be plummeting anytime now with those statistics!

Seriously... Travel and leisure prices are still ridiculous right now. Bookings are still very high and resorts still crowded, even with high rates.

 

[mcmurtry66]

Low-Wage Jobs Are Becoming Middle-Class Jobs

Millions of low-income families are experiencing less financial stress and even a modicum of comfort.

www.theatlantic.com

maybe. let's see if that creates an inflation doom loop.

 

[anon_mya1phvcpf5x4]

I would agree there's a lot of feelings and perceptions playing a role, but prices remain elevated for a great many good. Energy prices (at least in the US) have fallen over the past year which has helped to drive down overall CPI.

But housing, cars, and other durable goods remain elevated. So, it's not ENTIRELY feelings. But I suspect many people who are better off than they were 5 years ago still don't believe this could be possible with Biden as president. I tned to agree with Marv, presidents to little to steeer the economy.

https://www.bls.gov/news.release/pdf/cpi.pdf

I think a lot of it is just plain greed. If people are still buying at the higher rate, then little incentive to lower prices even when costs go down.

 

[Bowlmania]

Crab prices should be plummeting anytime now with those statistics!

Seriously... Travel and leisure prices are still ridiculous right now. Bookings are still very high and resorts still crowded, even with high rates.

Airfares, at least, are looking good for domestic travel this year.

Travel in the U.S. Will Be More Affordable Next Year, According to Kayak

Already thinking about your 2024 travels? Here's why you should think about taking a domestic trip in the year to come, according to Kayak.

www.travelandleisure.com

 

[snarlcakes]

That would usually signal rather anemic economic growth. We basically had that from 2009-2014ish when inflation was very low, but the economy was not really doing well.

Why would you lose any purchasing power, unless you are just stuffing cash under your mattress? Money market accounts are paying 5% and inflation is 3%. You should be at least getting raises to match inflation, hopefully more than.

Thanks for answering. I was curious on your reasoning.

 

[mcmurtry66]

Seriously... Travel and leisure prices are still ridiculous right now

yep it's awful.

 

[twenty02]

Airfares, at least, are looking good for domestic travel this year.

Travel in the U.S. Will Be More Affordable Next Year, According to Kayak

Already thinking about your 2024 travels? Here's why you should think about taking a domestic trip in the year to come, according to Kayak.

www.travelandleisure.com

Yeah I think they will drop.... Actually have noticed some much cheaper flights pop up in just the last few weeks. Were impossible to find for most part last year.

 

[mrhighlife]

that's like cannabis!!! thought that would print money but it's super hard. taxes, regulations, black market, having to sell cheap to retail, can only sell in the state you're in blah blah blah. just another hard business

Cannabis issues state by state. Michigan is thriving. Low prices. Essentially no black market. Record tax revenues. States that are complaining about a black market and sagging revenue only need to look in the mirror. They are taxing the industry to death. Michigan is the model state. Best weed too.

Negative effect is its killing the mom and pop home growers. Michigan set up a law where home growers could pretty easily get a license to sell a small amount for medical purposes. That has pretty much been killed by the low retail prices.

 

[mcmurtry66]

Yeah I think they will drop.... Actually have noticed some much cheaper flights pop up in just the last few weeks. Were impossible to find for most part last year.

Load the little shits up and drive!!! That’s memories

 

[Bowlmania]

Yeah I think they will drop.... Actually have noticed some much cheaper flights pop up in just the last few weeks. Were impossible to find for most part last year.

Not domestic (close), but looking at Banff for a summer trip.

 

[mrhighlife]

the cranks, rubes and blinkered partisans would like to know why total FY 2023 federal revenue fell to $4.11 T from $5.03 trillion in F.Y 2022 since federal revenue is directly related to income and payroll taxes.

Where are you seeing those numbers? I'm seeing 4.9 in 2022 and 4.8 in 2023.

 

[zeke4ahs]

Airfares, at least, are looking good for domestic travel this year.

Travel in the U.S. Will Be More Affordable Next Year, According to Kayak

Already thinking about your 2024 travels? Here's why you should think about taking a domestic trip in the year to come, according to Kayak.

www.travelandleisure.com

My flight to Maui is cheaper than my flight to Florida. Makes no sense.

 

[mcmurtry66]

Cannabis issues state by state. Michigan is thriving. Low prices. Essentially no black market. Record tax revenues. States that are complaining about a black market and sagging revenue only need to look in the mirror. They are taxing the industry to death. Michigan is the model state. Best weed too.

Negative effect is its killing the mom and pop home growers. Michigan set up a law where home growers could pretty easily get a license to sell a small amount for medical purposes. That has pretty much been killed by the low retail prices.

yeah but there have been so many issues including the feds and banking. just so much you don't anticipate that is problematic. it's not an easy business. you really need 3 mil just to manufacture edibles and get them out. and without continued funding thereafter it's hard not to just sell the license(s), which have decreased significantly in value. we've gotten into over 80 dispensaries selling cheap. not great cash flow etc

 

[mrhighlife]

No.

Overall prices almost have never come down in modern history. That would be referred to as deflation and usually only occurs in downright horrible economic situations. The Great Depression was the last significant deflationary period in the US.

CPI went very briefly negative in 2009 for like a Qtr. It's a VERY bad thing... something the Fed will do anything to avoid. Look up deflationary spiral. No bueno.

Disinflation, on the other hand is what the Fed is shooting for.. basically lowering the inflationary rate.... Hopefully to their 2% target.

Need prices to flat line and wages to keep increasing. IF (big IF) that happens than Biden will go down in the history books as God damned genius. Man that will be hilarious to watch from the afterlife.

 

[DrHoops]

Stock Bull Run Powers Ahead as US Economy Roars: Markets Wrap
https://www.bloomberg.com/news/articles/2024-02-01/stock-market-today-dow-s-p-live-updates

S&P Almost to 5,000….already a record high. The state of the Union.is STRONG.

 

[Bowlmania]

My flight to Maui is cheaper than my flight to Florida. Makes no sense.

Yeah, that's wacky.

 

[mrhighlife]

Need prices to flat line and wages to keep increasing. IF (big IF) that happens than Biden will go down in the history books as God damned genius. Man that will be hilarious to watch from the afterlife.

If wages keep up at its current 4.3% clip and inflation gets back to 2%? Biden may win in a landslide.

 

[twenty02]

Load the little shits up and drive!!! That’s memories

Yeah we've got two driving trips on the schedule for this year, only one flying. I don't mind driving... Find it a lot less stressful and easier to pack. My wife hates it and wants to fly everywhere, which is bullshit since I'm the one who actually does all the driving while she sleeps/reads.

 

[mcmurtry66]

Yeah we've got two driving trips on the schedule for this year, only one flying. I don't mind driving... Find it a lot less stressful and easier to pack. My wife hates it and wants to fly everywhere, which is bullshit since I'm the one who actually does all the driving while she sleeps/reads.

i like driving a lot it's the kids who hate it. and my minion forget it. he can't make it to chesterfield

 

[Bowlmania]

My flight to Maui is cheaper than my flight to Florida. Makes no sense.

Don't overlook Allegiant if you're flying to FL out of Indy. And sometimes Frontier has excellent deals from CVG.

 

[mcmurtry66]

Don't overlook Allegiant and Frontier if you're flying to FL out of Indy. And sometimes Frontier has excellent deals from CVG.

@zeke4ahs this is the answer. direct cheap and easy

 

[Bulk VanderHuge]

Don't overlook Allegiant if you're flying to FL out of Indy. And sometimes Frontier has excellent deals from CVG.

Seats on Frontier...

 

[Bowlmania]

Seats on Frontier...

Yeah, but if it's a two or two and a half hour flight you can deal with it.

Other than the seats not reclining, they're actually pretty nice (and newer) planes. And no doors have blown off mid-flight, to my knowledge.

 

[larsIU]

Seats on Frontier...

I see you upgraded. Fancy.

 

[twenty02]

Don't overlook Allegiant and Frontier if you're flying to FL out of Indy. And sometimes Frontier has excellent deals from CVG.

Spirit is dirt cheap from Indy to FL again.... First time they've been back to the dirt cheap fares here for a long while. Would much rather fly Southwest to FL rather then Spirit, Allegiant, etc...

 

[twenty02]

Seats on Frontier...

They are all Greyhounds... Metal tubes in the sky.

 

[mrhighlife]

Airfares, at least, are looking good for domestic travel this year.

Travel in the U.S. Will Be More Affordable Next Year, According to Kayak

Already thinking about your 2024 travels? Here's why you should think about taking a domestic trip in the year to come, according to Kayak.

www.travelandleisure.com

Yeah I'm not seeing the high prices. Airfare is pretty cheap right now. Cruise lines are giving away trips. I'm sure some really sought after excursions are pricey but aren't they always?

 

[Bowlmania]

Spirit is dirt cheap from Indy to FL again.... First time they've been back to the dirt cheap fares here for a long while. Would much rather fly Southwest to FL rather then Spirit, Allegiant, etc...

I like the free bags on Southwest but, man, they still have delay problems. I thought they had promised to upgrade their 1990s-era computer system.

 

[outside shooter]

Don't overlook Allegiant if you're flying to FL out of Indy. And sometimes Frontier has excellent deals from CVG.

I have been flying Allegiant, Frontier, and Sun Country to/from FL lately and have gotten a lot of one way tickets under 60 bucks, to Minneapolis, Chicago, Denver, etc. They nickle and dime you to pick a seat and take a bag, but it often still comes in at around 100 bucks each way if you pick the cheaper days.

Alaska Air to Hawaii was about $380 rt IIRC, and thankfully the bolts stayed in the doors. United was similar. My daughter took United since they accepted a boxed-up bike as normal checked baggage.

 

[Bowlmania]

Yeah I'm not seeing the high prices. Airfare is pretty cheap right now. Cruise lines are giving away trips. I'm sure some really sought after excursions are pricey but aren't they always?

Yeah, I haven't priced cruises lately. My older sister (and her husband) are big on Viking. They've done some of those river cruises in Europe, but I read that Viking was having major problems a couple of summer ago because some of the rivers weren't navigable in places due to low water. Passengers had to disembark and take a bus for part of the trip(s). Somehow a bus doesn't provide quite the same ambience. Lol.

Royal Caribbean just launched a massive new ship, Icon of the Seas, out of Miami. Close to 6,000 passengers, I think. No thanks.

 

[snarlcakes]

Will lead to greater unemployment. There’s a sweet spot

I know the answer and it’s not that.

 

[Bowlmania]

I have been flying Allegiant, Frontier, and Sun Country to/from FL lately and have gotten a lot of one way tickets under 60 bucks, to Minneapolis, Chicago, Denver, etc. They nickle and dime you to pick a seat and take a bag, but it often still comes in at around 100 bucks each way if you pick the cheaper days.

Alaska Air to Hawaii was about $380 rt IIRC, and thankfully the bolts stayed in the doors. United was similar. My daughter took United since they accepted a boxed-up bike as normal checked baggage.

Agreed that paying extra for everything (seat selection, bag, priority boarding) can undo the savings. Sometimes I'll just say eff it and let them assign the seat if it's a relatively short flight, and I'll bite the bullet and pay for the carry-on.

 

[snarlcakes]

Spirit is dirt cheap from Indy to FL again.... First time they've been back to the dirt cheap fares here for a long while. Would much rather fly Southwest to FL rather then Spirit, Allegiant, etc...

I only fly Southwest and Delta. I can’t do the cheap airlines anymore. I have an image to protect and prefer being the lowest class citizen on the fight.

 

[Bowlmania]

I have been flying Allegiant, Frontier, and Sun Country to/from FL lately and have gotten a lot of one way tickets under 60 bucks, to Minneapolis, Chicago, Denver, etc. They nickle and dime you to pick a seat and take a bag, but it often still comes in at around 100 bucks each way if you pick the cheaper days.

Alaska Air to Hawaii was about $380 rt IIRC, and thankfully the bolts stayed in the doors. United was similar. My daughter took United since they accepted a boxed-up bike as normal checked baggage.

Speaking of Alaska Air, I posted this in another thread but I'll do it again here, as I think it's one of SNL's better sketches in recent seasons.

 

[mcmurtry66]

Yeah I'm not seeing the high prices. Airfare is pretty cheap right now. Cruise lines are giving away trips. I'm sure some really sought after excursions are pricey but aren't they always?

i just priced stl to miami end of may. round trip is $800 on sw. that ain't cheap

 

[twenty02]

Yeah I'm not seeing the high prices. Airfare is pretty cheap right now. Cruise lines are giving away trips. I'm sure some really sought after excursions are pricey but aren't they always?

Cruise fares are at record highs. At least per Royal Caribbean's data. That new ship they launched has insane rates. Makes Disney look cheap

 

[mcmurtry66]

Cruise fares are at record highs. At least per Royal Caribbean's data. That new ship they launched has insane rates. Makes Disney look cheap

here's another crazy expense. rental cars are expensive as shit

Rental Cars​

The cost of renting a car rose by 48% between May 2019 and this summer, meaning that a car that cost $100 to rent pre-COVID-19 costs $148 today.

 

[mcmurtry66]

100 Things That Have Gone Up in Price Way Too Much

The current inflation rate is 3.4% -- higher than the Fed's longstanding target of 2%, but much more forgiving than a few years ago when it spiked to 40-year highs and approached double-digits. Even...

finance.yahoo.com

prices prices prices