October 15, 20232 yr 3 hours ago, Tnt4philly said: I give Biden credit for the economy to mock you MAGA nimrods. I rarely give the POTUS much credit or blame for the economy in an even half serious economics discussion. Ah. I see. You believe what you think matters. Got it. 😉
October 15, 20232 yr 2 hours ago, lynched1 said: Ah. I see. You believe what you think matters. Got it. 😉 Ah, I see, you have nothing. 😂😂😂
October 16, 20232 yr I guess if China and or Russia attack us we will need to at least give them a few states because of the deficit. I say we start by offering Russia Florida and Alaska. If they aren't appeased see if throwing in Texas will move the needle for them.
October 16, 20232 yr 2 minutes ago, Gannan said: I guess if China and or Russia attack us we will need to at least give them a few states because of the deficit. I say we start by offering Russia Florida and Alaska. If they aren't appeased see if throwing in Texas will move the needle for them. Amen, brother! We've got to fight them over there so they don't fight us over here!
October 16, 20232 yr 6 minutes ago, VanHammersly said: So, @Kz!, you're against aid to Israel? I'm against aid to every foreign country when we run over a trillion dollar deficit every year.
October 16, 20232 yr 1 hour ago, Kz! said: I'm against aid to every foreign country when we run over a trillion dollar deficit every year. How do you feel about tax write offs for yachts?
October 17, 20232 yr 5 hours ago, Toastrel said: This senior did not try to overthrow our country. Yes he is
October 17, 20232 yr 15 hours ago, Gannan said: How do you feel about tax write offs for zero turns? I mean, that's just great policy.
October 17, 20232 yr 17 minutes ago, Kz! said: Bidenomics? I know what'll get that debt under control...wait for it...wait...not yet....wait.....wait.......10 taxpayer funded, centrally planned Communist ghost cities!
October 17, 20232 yr 22 minutes ago, jsdarkstar said: Is that Kz's GF? Obviously not. He's a married man. It's his "wife".
October 17, 20232 yr https://www.marketwatch.com/story/inflation-is-already-racing-past-next-years-social-security-cola-93ad969e?itm_source=parsely-api&mod=mw_pushly&send_date=20231017 Quote The latest inflation figures from the United States government are worrying news for senior citizens — and I’m not even talking about 80-year-old Joe Biden, although they threaten his re-election campaign as well. Social Security beneficiaries are going to have to make do with a mere 3.2% cost-of-living-adjustment to their monthly checks starting January, the program’s administrators said Thursday. That will mean about an extra $59 a month for a retired worker on the average monthly check of $1,840. Meanwhile, the signs are that the actual prices you’ll be paying at the store, the barbershop and gas pump next year are likely to rise by more than that — and possibly a lot more. The headline inflation figure came in at 3.7% in September. But that’s a backward-looking number, comparing current prices with those a year ago. What’s happening to prices today? The latest figures show consumer prices rose 0.4% between August and September. That’s an annual rate of 4.9%. They’ve risen 1.1% since June, meaning an annual rate of 4.9%. The inflation number that Federal Reserve chairman Jay Powell watches most closely is even worse. Prices for services other than rent — meaning for everything from haircuts to airline tickets — are now rising at a stunning annual rate of 7.4%, the latest figures show. That’s three times the rate from just a couple of months ago. This shows scant success so far for Powell, who has been hiking interest rates for 18 months to kill inflation. He’s jacked the key short-term interest rate from 0% to above 5%. Yet inflation, like The Thing in John Carpenter’s cult horror movie, just won’t die. Maybe we shouldn’t be surprised. It must be hard to cool down the economy as long as Uncle Sam keeps running these gigantic deficits: $1.5 trillion this fiscal year, and counting. I can haz bidenomics?
October 17, 20232 yr Despite what the chicken littles are crying about, the economy is doing pretty good considering we are still in the shadows of the world wide pandemic. They can waste time arguing about who’s to blame and pointing fingers, I’m gonna enjoy the ride. "Economists tend to prefer another measure, the Personal Consumption Expenditures Price Index, which also increased 3.3%. This measure averages about half a percentage point lower than the CPI, but right now they are close. Average hourly earnings rose 4.5% over the past 12 months, exceeding inflation. Wages across the economy grow about one percentage point faster than inflation over the long run, despite periodic articles asserting that pay does not keep up with the cost of living. The data match basic economics. Wages reflect the value of worker production. If productivity did not change, the value of production would increase with inflation. But physical productivity per hour worked grows by about one percent a year due to technological improvements as well as increased use of machinery, equipment and computers. So inflation plus one percent is the long run wage gain. But that does not hold true in any particular year, just on average. Inflation Forecasts Surveys of economists provide a prediction of the economy. The Survey of Professional Forecasters shows the median prediction for 2024 inflation is 2.5% (CPI) and 2.4% (PCE). The Wall Street Journal survey shows similar results.” https://www.forbes.com/sites/billconerly/2023/09/13/inflation-projections-for-corporate-budgets-in-2024-and-beyond/?sh=b6b252211580
Create an account or sign in to comment