October 25, 20232 yr 20 hours ago, Toastrel said: Why is the media afraid to talk about Biden's plastic nose? 18 hours ago, jsdarkstar said: Threatening the President of the United States with physical violence is a Felony. Trump should be arrested and charged.
October 26, 20232 yr Obligatory "Presidents get too much blame/credit". That said, good to see this level of growth. From the article: Big spenders Growth readings are much stronger than economists were anticipating just a few months ago. In April, economists expected the economy would contract slightly over the summer months. By July, they estimated the economy would grow marginally during the third quarter. The thinking then was that the impact of a series of interest-rate hikes from the Federal Reserve aimed at cooling inflation would cause economic growth to stall over the summer. Instead, the economy has remained on solid footing. The reason: Americans stepped up spending. Over the summer, Americans were eager to spend on things such as high-profile concerts and movies. More broadly, their sustained spending has been supported by a strong labor market and savings accumulated during the Covid-19 pandemic because of government relief and locked-in low mortgage rates. "Initially, we were anticipating that a lot of that consumer strength was driven by special factors early in the summer,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank. "But the latest data show that there was more persistence.” The soft-landing scenario Employers continue to add jobs and raise wages briskly, and unemployment remains near historic lows. Meanwhile, inflation has eased sharply from its recent peak of 9.1% in June 2022. To combat high inflation, the Fed lifted the benchmark federal-funds rate to a range between 5.25% and 5.5% in July 2023—a 22-year high. Fed officials held rates steady at their meeting in September and have signaled they could do so again at their meeting next week. They have cited progress on lowering inflation and the run-up in longer-term yields, which essentially does some of the work of tightening financial conditions, as potential reasons to extend the pause in interest-rate hikes. The combination of slowing price increases and a resilient economy has sparked hopes that the economy will see a so-called soft landing, where inflation ebbs to around the Fed’s 2% target without a recession. "In my opinion, the U.S. economy might have already gotten through the stickiest spot of the postpandemic normalization,” said Bill Adams, chief economist at Comerica Bank.
October 26, 20232 yr 51 minutes ago, JohnSnowsHair said: Obligatory "Presidents get too much blame/credit". That said, good to see this level of growth. From the article: Big spenders Growth readings are much stronger than economists were anticipating just a few months ago. In April, economists expected the economy would contract slightly over the summer months. By July, they estimated the economy would grow marginally during the third quarter. The thinking then was that the impact of a series of interest-rate hikes from the Federal Reserve aimed at cooling inflation would cause economic growth to stall over the summer. Instead, the economy has remained on solid footing. The reason: Americans stepped up spending. Over the summer, Americans were eager to spend on things such as high-profile concerts and movies. More broadly, their sustained spending has been supported by a strong labor market and savings accumulated during the Covid-19 pandemic because of government relief and locked-in low mortgage rates. "Initially, we were anticipating that a lot of that consumer strength was driven by special factors early in the summer,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank. "But the latest data show that there was more persistence.” The soft-landing scenario Employers continue to add jobs and raise wages briskly, and unemployment remains near historic lows. Meanwhile, inflation has eased sharply from its recent peak of 9.1% in June 2022. To combat high inflation, the Fed lifted the benchmark federal-funds rate to a range between 5.25% and 5.5% in July 2023—a 22-year high. Fed officials held rates steady at their meeting in September and have signaled they could do so again at their meeting next week. They have cited progress on lowering inflation and the run-up in longer-term yields, which essentially does some of the work of tightening financial conditions, as potential reasons to extend the pause in interest-rate hikes. The combination of slowing price increases and a resilient economy has sparked hopes that the economy will see a so-called soft landing, where inflation ebbs to around the Fed’s 2% target without a recession. "In my opinion, the U.S. economy might have already gotten through the stickiest spot of the postpandemic normalization,” said Bill Adams, chief economist at Comerica Bank.
October 26, 20232 yr On 10/24/2023 at 8:55 AM, mikemack8 said: Oh my God, what an interesting coincidence. I just used that meme. Anyway, while you and Kz were badmouthing me I was home recovering from surgery, so i missed this exchange. I hope you feel terrible, Mike. For shame. But you used the wrong line. I would've said: I know what'll fix inflation, a ten percent tax on everything! Also, this:
October 26, 20232 yr Also - good luck with your gastric bypass, big guy. Hope it improves your quality of life some.
October 26, 20232 yr 6 minutes ago, mikemack8 said: Also - good luck with your gastric bypass, big guy. Hope it improves your quality of life some. 6 feet, 200 lbs, bish. I had to get a Michael Penix, Jr reduction. It was getting in the way of living a normal life.
October 26, 20232 yr 9 minutes ago, VanHammersly said: 6 feet, 200 lbs, bish. I had to get a Michael Penix, Jr reduction. It was getting in the way of living a normal life. sucking your own wedding tackle was taking up too much time ?
October 26, 20232 yr Good to see the Biden economy has the endorsement of...checks notes...Donald Trump.
October 26, 20232 yr GDP: US economy grows at fastest pace in nearly two years The US economy grew at its fastest pace in nearly two years during the past three months, once again defying predictions for a slowdown as many expected the Federal Reserve's monetary tightening to constrain the American consumer. The Bureau of Economic Analysis's advance estimate of third quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 4.9% during the period, faster than consensus forecasts. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 4.5% during the period.
October 26, 20232 yr All those "I can haz bidenomics" posts from HansonsNumberOneFan aged real well in light of 4.9% GDP growth. Hate to see it.
October 27, 20232 yr In addition to 4.9% GDP, inflation has fallen 3 months in a row and unemployment is at an all time low. Domestic Manufacturing is at a high. Proving those against the bills wrong and all the naysayers saying recession wrong as well.
October 27, 20232 yr Bidenomics in action https://justthenews.com/sites/default/files/2023-10/err-325.pdf In 2022, 87.2 percent of U.S. households were food secure. The remaining 12.8 percent (17.0 million households) were food insecure. Food-insecure households (those with low and very low food security) had difficulty at some time during the year providing enough food for all their members because of a lack of resources. The 2022 prevalence of food insecurity was statistically significantly higher than the 10.2 percent recorded in 2021 (13.5 million households) and the 10.5 percent in 2020 (13.8 million households). • In 2022, 5.1 percent of U.S. households (6.8 million households) had very low food security, statistically significantly higher than the 3.8 percent (5.1 million households) in 2021 and the 3.9 percent (5.1 million households) in 2020. In this more severe range of food insecurity, the food intake of some household members was reduced, and normal eating patterns were disrupted at times during the year because of limited resources
October 27, 20232 yr You know Biden is doing ok when all the MAGA morons have are fake ads using old clips from a 6 yr old PSA against sexual violence, and cherry picking old negative economic news while ignoring the more recent positive economic news. Keep on being the hypocritical POSs you all are.
October 27, 20232 yr https://plus.thebulwark.com/p/the-warning-lights-are-flashing-red I’m not sure I’m this doom and gloom because I still don’t think he has a shot, but I believe if trump wins it is pretty on target The Warning Lights Are Flashing Red. Again. Joe Biden is in a world of trouble. And so is democracy. 1. Warning Lights "It’s been a pretty good month for Joe Biden, right? We have a crisis in the Middle East, which Biden has handled as well as any president could—really, a master class in foreign affairs, diplomacy, and hard power. There was a great jobs report. Inflation continued to cool. And the GDP growth, at 4.9 percent, was nothing less than spectacular. Presidents dream about months this good. Also over the last month: Joe Biden’s approval rating dropped -4 points, fueled by an -11 point drop among Democrats. The warning lights are flashing red. Again.”
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