US economy is the envy of the world

[Bowlmania]

• Annual inflation is now down to 2.4%, prompting the Fed to start lowering interest rates which will help businesses, credit card holders and home buyers.
• Unemployment rate is at a low 4.1%.
• S&P 500 stock index is up more than 20% this year.
• GDP growth is a robust 3%.

The American economy has left other rich countries in the dust

Expect that to continue

www.economist.com

 

[Bulk VanderHuge]

But, but, but...CRAB LEGS!

 

[stollcpa]

But, but, but...CRAB LEGS!

So everyone should be happy with the new high prices on everything because they’re just going to increase at 2.4% from these crazy highs?

 

[WhyisIUBBcursed]

So everyone should be happy with the new high prices on everything because they’re just going to increase at 2.4% from these crazy highs?

Yes

 

[Lucy01]

• Annual inflation is now down to 2.4%, prompting the Fed to start lowering interest rates which will help businesses, credit card holders and home buyers.
• Unemployment rate is at a low 4.1%.
• S&P 500 stock index is up more than 20% this year.
• GDP growth is a robust 3%.

The American economy has left other rich countries in the dust

Expect that to continue

www.economist.com

True Value Hardware says high! They have a different take on your BS.

 

[larsIU]

True Value Hardware says high! They have a different take on your BS.

Well then shop at Ace. Duh.

 

[BCCHoosier]

True Value Hardware says high! They have a different take on your BS.

These stores have been high priced for years compared to Menards, Lowes, and Home Depot. And at most locations I've been to, they don't prove the level of service that Ace does.

It is a recipe for disaster. Not everything is Biden's fault. Unless you are a simple minded one trick pony.

 

[WhyisIUBBcursed]

Eat bananas. They’re still cheap

 

[larsIU]

Eat bananas. They’re still cheap

Are they bad for me now? Something something sugar.

 

[twenty02]

True Value Hardware says high! They have a different take on your BS.

They've been in decline for years. Do It Best and Ace ate their lunch

 

[WhyisIUBBcursed]

Are they bad for me now? Something something sugar.

Or Nutty Bars.

 

[Lucy01]

These stores have been high priced for years compared to Menards, Lowes, and Home Depot. And at most locations I've been to, they don't prove the level of service that Ace does.

It is a recipe for disaster. Not everything is Biden's fault. Unless you are a simple minded one trick pony.

High energy costs!
Inflation.
High interest rates.
Are all Biden’s fault!

 

[kurt cloverdales]

High energy costs!
Inflation.
High interest rates.
Are all Biden’s fault!

If you would have saved your money during the booming trump economy, you would be making a killing on interest. instead, you spent the money on a transition.

 

[Lucy01]

If you would have saved your money during the booming trump economy, you would be making a killing on interest. instead, you spent the money on a transition.

That’s a good point! Even coming from you.

 

[stollcpa]

Yes

Those of us that can afford Biden/Harris inflation will be grumpy but okay. There are millions that can’t afford these new prices.

 

[WhyisIUBBcursed]

Those of us that can afford Biden/Harris inflation will be grumpy but okay. There are millions that can’t afford these new prices.

I’m sure they’ll have to downgrade their iPhones

 

[stollcpa]

If you would have saved your money during the booming trump economy, you would be making a killing on interest. instead, you spent the money on a transition.

I did save and loving my non risky CD interest rates.

 

[Lucy01]

I did save and loving my non risky CD interest rates.

I have my money in treasuries.

 

[BCCHoosier]

If you would have saved your money during the booming trump economy, you would be making a killing on interest. instead, you spent the money on a transition.

If your net worth is not at an all time high you are doing it wrong. Look in the mirror. I'll exclude those out of a job or with major medical expenses.

 

[jrbjrb]

• Annual inflation is now down to 2.4%, prompting the Fed to start lowering interest rates which will help businesses, credit card holders and home buyers.
• Unemployment rate is at a low 4.1%.
• S&P 500 stock index is up more than 20% this year.
• GDP growth is a robust 3%.

The American economy has left other rich countries in the dust

Expect that to continue

www.economist.com

If you think actual inflation is 2.4% you live in a dream world.

 

[Willdog7]

So everyone should be happy with the new high prices on everything because they’re just going to increase at 2.4% from these crazy highs?

GO After all the greedy gop businessmen

 

[Willdog7]

I did save and loving my non risky CD interest rates.

There are more things at issue than money but I guess you forgot about Covid.

 

[stollcpa]

There are more things at issue than money but I guess you forgot about Covid.

I haven’t forgotten about Covid hype.

 

[Aloha Hoosier]

Those of us that can afford Biden/Harris inflation will be grumpy but okay. There are millions that can’t afford these new prices.

You think they'll go down? Inflation is what it is and if Trump was President, he'd be bragging about inflation being 2.4 percent. LOWEST INFLATION EVER! IT'S TREMENDOUS!

 

[stollcpa]

You think they'll go down? Inflation is what it is and if Trump was President, he'd be bragging about inflation being 2.4 percent. LOWEST INFLATION EVER! IT'S TREMENDOUS!

It’s best for me not to reply to you regarding anything Trump related. You’re emotional and biased on the subject. My wife is the same only in Trump’s favor. I clam up with her and won’t discuss. It’s best for our marriage. It’s best for you and I for me to do the same thing related to Trump.

 

[Willdog7]

I haven’t forgotten about Covid hype.

You did not die so I guess its not hype and speaking of you IRA how are they doing now under Biden and Harris? What a hypocrite

 

[IUNorth]

Everyday costs are still inflated.

You think they'll go down? Inflation is what it is and if Trump was President, he'd be bragging about inflation being 2.4 percent. LOWEST INFLATION EVER! IT'S TREMENDOUS!

"Most" credited economists say Trump winning would be worse on inflation than Harris winning.

I personally don't think that's likely true. They base it off the things he's said he would do, Tarriffs, Tax changes, etc... I don't think he'll do much of anything he's claiming he will, so their reasoning probably won't be relevant.

I strongly believe Trump's main focuses will be 1)pardoning himself from all his various crimes 2)Revenge 3)setting Trump Inc up for massive windfalls when he leaves office. I don't think he'll get around to doing much of anything else, impactful one way or another.

It seems like we're headed for some better days economically. Most traditional measures are either already good, or are trending back that way. Prices for various essential things are still stubbornly too high though. And if Harris does lose, it'll be because she didn't adequately address this primary concern with her campaign.

But I think the good news is whoever wins, they're inheriting A LOT better overall conditions than what Biden did in 21'.

 

[Aloha Hoosier]

It’s best for me not to reply to you regarding anything Trump related. You’re emotional and biased on the subject. My wife is the same only in Trump’s favor. I clam up with her and won’t discuss. It’s best for our marriage. It’s best for you and I for me to do the same thing related to Trump.

There was nothing emotional about my post. 2.4 percent inflation is historically pretty good. Not too far from the target of 2 percent. It was 2.45 just before COVID during the Trump administration.

The all-caps sentences are just how I see that Trump would talk it up. It was just a bit of humor based on the reality of what Trump does. You know that's what he does, right? He has said repeatedly that we had the best economy in history during his term, which of course is false, but that is what he does.

So, what is emotional about any of my post? Maybe your reaction to it, but there wasn't the slightest bit of emotion involved in typing it.

 

[mcmurtry66]

There was nothing emotional about my post. 2.4 percent inflation is historically pretty good. Not too far from the target of 2 percent. It was 2.45 just before COVID during the Trump administration.

The all-caps sentences are just how I see that Trump would talk it up. It was just a bit of humor based on the reality of what Trump does. You know that's what he does, right? He has said repeatedly that we had the best economy in history during his term, which of course is false, but that is what he does.

So, what is emotional about any of my post? Maybe your reaction to it, but there wasn't the slightest bit of emotion involved in typing it.

you understand it wsa over 20 percent during biden's term correct?
and you understand that it was largely attributed to teh period the dems had control of everything correct?
and that everything leveled out after manchin blocked their shit and then they lost the house. they deserve zero credit. the inflation spike is what they engendered

 

[Aloha Hoosier]

you understand it wsa over 20 percent during biden's term correct?
and you understand that it was largely attributed to teh period the dems had control of everything correct?
and that everything leveled out after manchin blocked their shit and then they lost the house. they deserve zero credit. the inflation spike is what they engendered

No. Prices rose by 20 percent total since COVID. The inflation rate peaked at 9% and is now 2.4%.

I’m not giving the Democrats or President credit for getting the rate back down to 2.4 percent. Democrats certainly get some blame for inflation because of their stimulus. The Inflation Reduction Act, did nothing of the kind. It was deliberately misnamed. Presidents deserve little credit or blame for the economy.

The prices won’t decrease by 20 percent no matter who’s elected.

 

[mcmurtry66]

No. Prices rose by 20 percent total since COVID. The inflation rate peaked at 9% and is now 2.4%.

I’m not giving the Democrats or President credit for getting the rate back down to 2.4 percent. Democrats certainly get some blame for inflation because of their stimulus. The Inflation Reduction Act, did nothing of the kind. It was deliberately misnamed. Presidents deserve little credit or blame for the economy.

The prices won’t decrease by 20 percent no matter who’s elected.

You can see if you look month by month when inflation exploded and when it subsided. It exploded after the excess stimulus and stays then subsided after Dems lost the House

 

[TommyCracker]

You can see if you look month by month when inflation exploded and when it subsided. It exploded after the excess stimulus and stays then subsided after Dems lost the House

Read up a little bit on the April 2020 OPEC deal that Trump did with Mother Russia and the Saudis.

It basically demanded that the Saudi's strongly cut back on production which for Trump was motivated by two intentions....his concern that American Oil companies would get crushed as people continued to stop consuming oil like we normally do from Covid and cynically it also protected Russian oil pricing since only the Saudi's were pressured to cut back production....which they did and was a critical influence to oil and energy prices screaming higher as the world started recovering from the pandemic.

The deal was from April 2020 and expired May 2022. These dates are critical to this point.

If you look at pretty much every global and national financial pricing/inflation chart you'll see it all starts rising shortly after April 2020 but peak and start correcting in May 2022 when this OPEC deal expired and the Saudi's kicked back in with their pre pandemic production levels.

Basic point is we are such an oil dependent world that when oil prices spike from demand dwarfing supply, it obviously greatly impacts costs of living, particularly transportation of goods.

Anyway I only see this discussed with supposed Energy fanatics and have never seen it mentioned on the WC.

https://www.reuters.com/article/economy/special-report-trump-told-saudi-cut-oil-supply-or-lose-us-military-support--idUSKBN22C1V3/

Here's Cuban referencing it in a semi heated discussion.

 

[mcmurtry66]

Read up a little bit on the April 2020 OPEC deal that Trump did with Mother Russia and the Saudis.

It basically demanded that the Saudi's strongly cut back on production which for Trump was motivated by two intentions....his concern that American Oil companies would get crushed as people continued to stop consuming oil like we normally do from Covid and cynically it also protected Russian oil pricing since only the Saudi's were pressured to cut back production....which they did and was a critical influence to oil and energy prices screaming higher as the world started recovering from the pandemic.

The deal was from April 2020 and expired May 2022. These dates are critical to this point.

If you look at pretty much every global and national financial pricing/inflation chart you'll see it all starts rising shortly after April 2020 but peak and start correcting in May 2022 when this OPEC deal expired and the Saudi's kicked back in with their pre pandemic production levels.

Basic point is we are such an oil dependent world that when oil prices spike from demand dwarfing supply, it obviously greatly impacts costs of living, particularly transportation of goods.

Anyway I only see this discussed with supposed Energy fanatics and have never seen it mentioned on the WC.

https://www.reuters.com/article/economy/special-report-trump-told-saudi-cut-oil-supply-or-lose-us-military-support--idUSKBN22C1V3/

Here's Cuban referencing it in a semi heated discussion.

View embedded media

i have no idea what impact it had. i don't doubt it hda an impact. i also know as the feds have stated repeatedly when trump, then biden harris flooded peoples' mailboxes with money they stayed home and used it to order products thereby overstimulating the economy. too much money circulating chasing too few goods with bills being stayed

 

[outside shooter]

every plane is full
every stadium is full
every concert venue is sold out
the highways are packed
every desirable vacation destination is busy
every good restaurant is full
every Starbucks has a line out the door for their $12 pumpkin spice coffee
every Apple store has a line out the door for the latest iphone upgrade, and the earbuds too

Sure, too much of the purchases are going on credit cards. But I am not talking about essentials. I am talking about excess disposable income, which seems to be in abundant supply.

If you want a job, you can find 3 while barely trying.

I just don't see the doom and gloom of "everyone hurting" other than the folks on fixed incomes or stuck in minimum wage jobs (for a minimum wage that the MAGA folks have constantly blocked, at the Federal level).

 

[Bowlmania]

minimum wage that the MAGA folks have constantly blocked,

And the argument was always, "don't increase the minimum wage, it will drive up the price of everything."

Many/most of the people who took that position now back a nominee who wants to go from levying tariffs on $300 billion of Chinese goods to imposing tariffs on $3 trillion of imports from around the world. And here's what happens with tariffs: US importers pay the tariffs and then pass that cost on to American consumers in the form of higher prices. And inflation is reignited.

Trump's expanded tariffs would be a disaster for the US economy. The Peterson Institute estimates that Trump's economic policies would cause inflation to jump to between 6% and 9.3%. In contrast, Moody's Analytics estimates that Harris' policies would leave the currently favorable inflation outlook virtually unchanged.

 

[mrhighlife]

I’m sure they’ll have to downgrade their iPhones

Shouldn't those people just pull themselves up by the bootstraps or something? I forget what we were saying about the poor during Trump's presidency.