On 7/27/2022 at 5:07 PM, JohnSnowsHair said:

Jerome Powell doesn't think we're in a recession.

Honestly, I'm not sure if that statement makes it more or less likely that we are. Just passing it on.

Main thing is it's weird. Job market remains very strong. Stuff just costs more, which sucks, but a lot of that is still owed to supply chain issues lingering way longer than anticipated.

China's continuing Covid issues along with its demographics (they old) seem to be a big factor there.

Are you ignoring the layoffs all over the place?

25 minutes ago, ToastJenkins said:

Are you ignoring the layoffs all over the place?

Excuse me, where?  And don’t tell me about the fintech layoffs.  That crap was nonsense to begin with.  Overall job market is hot.  My company can’t find people 

41 minutes ago, ToastJenkins said:

Are you ignoring the layoffs all over the place?

There are layoffs, but "all over the place?"

Companies still can't find people. Open job requisitions remain incredibly high. 

There are certainly some sectors that are suffering and so there's isolated layoffs, but workers are finding new positions within days.

4 hours ago, we_gotta_believe said:

Discounts or not, those year over year numbers looked pretty good. Market seems to agree, share price is up 13% after hours. You could probably pick any other major retailer and it would be a better example there.

The example is the sales of prime day and consumer behavior, not the company as a whole.

"Employers are beginning to respond to financial pressures and slowing demand by cutting costs. While the labor market is still tight, that tightness may begin to ease in the next few months."

 

Thanks Biden!

10 hours ago, barho said:

Excuse me, where?  And don’t tell me about the fintech layoffs.  That crap was nonsense to begin with.  Overall job market is hot.  My company can’t find people 

How about Ford that obvious enough for you?

happening in biotech too

6 hours ago, TEW said:

The example is the sales of prime day and consumer behavior, not the company as a whole.

A single day worth of sales to represent consumer sentiment in a sector over the past couple years? Mmmkay.

32 minutes ago, toolg said:

Thanks Biden!

 

1 minute ago, Blazehound said:

 

The right can't meme

7 minutes ago, Bacarty2 said:

We had this conversation earlier in the year about product pricing.

people here think we should praise Biden for the cost of Chicken, pork, gas, etc being down 9-12-15% but they forget that those same products are up 250% since Biden got into office.

I got a secret for you... We live in a capitalist market economy. POTUS is not the King of the Capitalists. So we really shouldn't praise or blame Biden for market fluctuations...  He has little to do with it. The Conservative narrative is built on lies.

11 minutes ago, toolg said:

I got a secret for you... We live in a capitalist market economy. POTUS is not the King of the Capitalists. So we really shouldn't praise or blame Biden for market fluctuations...  He has little to do with it. The Conservative narrative is built on lies.

100% true.  It is also true that we are in a recession by normal accepted definition.

16 minutes ago, Bacarty2 said:

I wrote a nice long rebuttal, but at the end of the day if you think the potus's policies, comments, actions, etc have no effect on the economy I cant help you. 

 

 

 

Yup, we can all blame Biden when gas hits 11 bucks a gallon.

40 minutes ago, Bacarty2 said:

We had this conversation earlier in the year about product pricing.

people here think we should praise Biden for the cost of Chicken, pork, gas, etc being down 9-12-15% but they forget that those same products are up 250% since Biden got into office. 

 BDS

17 minutes ago, DrPhilly said:

100% true.  It is also true that we are in a recession by normal accepted definition.

Labor and consumption numbers don't fit the narrative of recession... Call it what you want, the economy is wack.

Just now, toolg said:

Labor and consumption numbers don't fit the narrative of recession... Call it what you want, the economy is wack.

The classic definition is two quarters of negative GDP.  Not all economic metrics need fit the bill.

1 hour ago, toolg said:

Thanks Biden!

 

31 minutes ago, toolg said:

I got a secret for you... We live in a capitalist market economy. POTUS is not the King of the Capitalists. So we really shouldn't praise or blame Biden for market fluctuations...  He has little to do with it. The Conservative narrative is built on lies.

1 minute ago, DrPhilly said:

The classic definition is two quarters of negative GDP.  Not all economic metrics need fit the bill.

NBER makes the call.

Just now, toolg said:

NBER makes the call.

If they make it based on the classic definition then it is a recession.  We shall see...

3 minutes ago, The_Omega said:

 

That first tweet simply says the prices are falling and doesn't give credit to anyone for it. 

3 minutes ago, Bacarty2 said:

The price of gas going down is bad!  Old man bad!  

6 minutes ago, Bacarty2 said:

How old are you? Legit question.  45, but my age is irrelevant to your fear mongering, BDS ridden posts.

I think we can all agree that paying more for everything is fun.  Retarded comment from Bacarty, check.

I guess you missed the important part.... Was responding to the "fight" gif. 

 

WSJ: Worker Pay and Benefits Rose 1.3% in Second Quarter

Business and government employers spent 5.1% more on compensation for workers in the second quarter compared with the same period a year earlier, without adjusting for seasonality, the Labor Department said Friday. That marked the fastest annual pace on records back to 2001, eclipsing the 4.5% annual increase in the first quarter.

Wages and benefits for civilian workers increased a seasonally adjusted 1.3% in the second quarter, a slight slowdown from record-high growth of 1.4% in the first quarter as employers pulled back on benefits this spring. Wages and salaries for private-sector workers accelerated, growing 1.6% in the spring versus 1.3% during the first three months of the year.

The growth in compensation shows that employers continued to seek workers and increase wages in a historically tight job market, even as the economy shrunk in the second quarter.

"The rest of the economy might be slowing down, but wages are speeding up,” said Nick Bunker, economist at jobs site Indeed. "Competition for workers remains fierce as employers have to keep bidding up wages for new hires.”

A separate Commerce Department report Friday showed consumers boosted their seasonally adjusted spending by 1.1% in June, up from a revised 0.3% increase in May. Personal income rose by 0.6% last month.

The report showed that inflation as measured by the Federal Reserve’s preferred gauge, the personal-consumption expenditures price index, rose 6.8% in June from the year before, up from the 6.3% increase in the 12 months through May.