The Economy

[Lance_Castro]

Delux Schitzoid666 live in an over/under tent.

Who’s the Top? Doesn’t matter when you’re a schizophenic!


Ha ha ha!

 

[ChinoMoreno]

 

[DeluxAuto]

I've said it on here for years.

 

[colddiesel]

The value of the dollar rose against other currencies throughout the Biden administration, and is higher than at any point during the Trump administration.

View attachment 2460847https://tradingeconomics.com/united-states/currency

The value of the dollar rose against other currencies throughout the Biden administration, and is higher than at any point during the Trump administration.

View attachment 2460847https://tradingeconomics.com/united-states/currency

But is that a good thing? it makes it more and more difficult for the USA to export anything. I also noticed that a very large proportion of the Trump tax cut did not go into investment at all as trumpeted, but was squirrelled away by wealthy folk in Government Bonds. Giving the government more money to spend without any commitment to paying down debt seems a bit daft.

 

[MajorRewrite]

US exports are at an all-time high.

Exports advanced 2.7% to $273.4 billion, an all-time high. Goods exports increased 3.6% to $177.6 billion.

But the trade gap widened on fear of Trump’s tariffs …

The U.S. trade deficit widened in November, likely as businesses worried about President-elect Donald Trump's threats to raise tariffs on foreign goods front-loaded imports, more than offseting a surge in exports to a record high.

 

[MajorRewrite]

Job openings increase. Good news for anyone looking for a job.

Openings rose to 8.1 million in November from 7.8 million in October, the Labor Department reported Tuesday. They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 as the economy was roaring back from COVID-19 lockdowns. But they still exceed pre-pandemic levels.

 

[MajorRewrite]

US weekly jobless claims

More good employment news. ️

The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market.

Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 201,000 for the week ended Jan. 4, the lowest level since February 2024, the Labor Department said on Wednesday. Economists polled by Reuters had forecast 218,000 claims for the latest week.

 

[MajorRewrite]

Wall Street is convinced Trump is going to reignite inflation.

The 20-year Treasury bond offered a grim warning as a selloff fueled by inflationary angst gripped global debt markets: 5% yields are already here.

 

[MajorRewrite]

Private equity firms are a plague on the economy, but they expect Trump to give them access to your 401(k).

Private equity wants a piece of your 401(k)

401 (k) retirement savings are viewed by Wall Street investment giants as a way to boost demand for non-listed, illiquid bets that aren’t traded on any public exchange.

The argument against opening retirement savings to private equity is that the funds can be riskier than plain-vanilla index funds and are less liquid, making it difficult to get money out if things go sideways.

Private equity also isn’t cheap, as fees can eat into investment gains. Many private equity firms charge investors fees that amount to 2% of assets and 20% of any profits.

 

[Mrtenant]

But is that a good thing? it makes it more and more difficult for the USA to export anything. I also noticed that a very large proportion of the Trump tax cut did not go into investment at all as trumpeted, but was squirrelled away by wealthy folk in Government Bonds. Giving the government more money to spend without any commitment to paying down debt seems a bit daft.

But but ....corporations did stock buy backs

 

[whiskeytangofoxtrot]

Private equity firms are a plague on the economy, but they expect Trump to give them access to your 401(k).

Private equity wants a piece of your 401(k)

more deregulation on the way. Kinda reminds me of economic turn downs in 2008, 1987, 1989, and 2002 economic, deja vue. Next time it's really going to hurt.

 

[MajorRewrite]

US labor market finishes 2024 on high note, adding 256,000 jobs in December as unemployment falls to 4.1%

Good economic news is welcomed by real Americans, but MAGAs are probably mad because Biden is going out strong.

Data from the Bureau of Labor Statistics released Friday showed 256,000 new jobs were created in December, far more than the 165,000 expected by economists, and higher than the 212,000 seen in November. The unemployment rate fell to 4.1% from 4.2% in November. December marked the most monthly job gains seen since March 2023.

 

[whiskeytangofoxtrot]

US labor market finishes 2024 on high note, adding 256,000 jobs in December as unemployment falls to 4.1%

Good economic news is welcomed by real Americans, but MAGAs are probably mad because Biden is going out strong.

the economy has done well under biden. the problem was his message didn't resonate with the general populace and the use of misinformation created a much distorted view. now about those campaign promises... should be fun to watch.

 

[MajorRewrite]

The Biden administration job creation record …

Total employment

January 2020 156,994,000 (pre-pandemic)
January 2021 148,383,000 (takes office)
December 2024 161,294,000

4.3 million more jobs now compared to peak employment during the Trump administration.

12.9 million more jobs than when Biden took office.

https://www.bls.gov/webapps/legacy/cpsatab1.htm

 

[Rotadom]

Is Donald Trump inheriting the best economy in history?

President-elect Trump will enter office with the lowest unemployment rate since Richard Nixon in 1969 — but red flags remain

https://www.marketwatch.com/story/is-donald-trump-inheriting-the-best-economy-in-history-bef59427

 

[MajorRewrite]

This may be the most interesting economic thing that happened during the Biden administration. Growth of the median wage stayed within a narrow band (between 3% and 4%) during the Trump administration even during the pandemic. But when the pandemic ended, there were “help wanted” signs everywhere and wage growth shot up to over 6%.



https://www.atlantafed.org/chcs/wage-growth-tracker.aspx

 

[UltraChad]

This is a perfect example of how dipshits like Reichguide and icant perceive things they don't understand.

View attachment 2460946

I love that you and a bunch of fucking morons think we live under capitalism.

 

[DeluxAuto]

I love that you and a bunch of fucking morons think we live under capitalism.

Where did I say that *I* think that, Bot?

 

[MajorRewrite]

Inflation isn’t doing anything dramatic. Rent and medical care continue to be drivers of inflation.

Inflation pressures ease in December as core CPI rises less than forecast

New data from the Bureau of Labor Statistics out Wednesday showed that a key inflation metric eased for the first time since July.

On a "core" basis, which strips out the more volatile costs of food and gas, the December Consumer Price Index (CPI) climbed 0.2% over the prior month, a deceleration from November's 0.3% monthly gain. On an annual basis, prices rose 3.2%.

 

[MajorRewrite]

A nice graph of inflation in 2024, broken down into categories. You can see the price of only a few things rose faster than earnings (increased 3.9%).

Rent is a continuing problem.



Notice that grocery prices dropped 3.4% in 2024.

 

[Politruk]

I love that you and a bunch of fucking morons think we live under capitalism.

We don't live under socialism, or even social democracy. We live under capitalism -- and plutocracy. Whatever the rich want done is done; whatever they oppose is blocked.

 

[UltraChad]

We don't live under socialism, or even social democracy.

Not entirely but far closer to those.

We live under capitalism -- and plutocracy.

You're fucking retarded and don't know what the fuck capitalism is.

Whatever the rich want done is done; whatever they oppose is blocked.

The rich just got stuffed in the 2024 election bud...... again, you're a fucking moron who has no idea what is going on.

 

[UltraChad]

Where did I say that *I* think that, Bot?

You posted the picture of a statement, as good as saying it, Butters.

 

[DeluxAuto]

You posted the picture of a statement, as good as saying it, Butters.

You're too easy. Do better.

 

[Politruk]

You're fucking retarded and don't know what the fuck capitalism is.

It's this and we've got it.

The rich just got stuffed in the 2024 election bud...... again, you're a fucking moron who has no idea what is going on.

There was never a chance they could be -- nobody was running against them. Flattening the socioeconomic pyramid is on neither party's agenda.