Biden’s is crushing us with his spending and inflation

[BDKJMU]

What’s really happening in America’s economy (Trump and Biden spin aside)

The good
If you’re already optimistic about the economy’s current state, you’re going to feel even better by parsing through some of the latest labor market data.

Currently, there are 8.5 million job openings. That exceeds the number of pre-pandemic job openings by 1.5 million. Meanwhile, there are 6.5 million unemployed people. That means there’s more than one job per job seeker. In the decade preceding the pandemic, that ratio was 0.6 on average, signifying there were more job seekers than the number of job openings.

Americans’ average hourly earnings are 22% higher than before the pandemic, according to Bureau of Labor Statistics data. Though wage increases have been slowing, they’re rising at a faster rate than prices.

That’s good news for consumers, since it means their income is stretching further.

The bad
Though inflation has cooled significantly from its peak in the summer of 2022, further progress toward the Federal Reserve’s 2% target is looking like it’ll be a lengthy process.
...
The ugly
The biggest flashing red light in the economy right now is the level of debt people are racking up.

161.5 million employed (dept of Labor April 2024)
336 + million US population (US Census population clock)

No way the above is true (only 48% of the population working) and only 6.5 million unemployed.

[UNI88]

What’s really happening in America’s economy (Trump and Biden spin aside)

161.5 million employed (dept of Labor April 2024)
336 + million US population (US Census population clock)

No way the above is true (only 48% of the population working) and only 6.5 million unemployed.

Funny thing about unemployment is that I believe it only counts people who are collecting unemployment. The long-term unemployed who are no longer collecting unemployment aren't included. This isn't new so if you crowed about how low unemployment was under trump you don't get to bitch now.

Have we reached a tipping point where there are more retired people than working people? Seems early.

[Caribbean Hen]

161.5 million employed (dept of Labor April 2024)
336 + million US population (US Census population clock)

No way the above is true (only 48% of the population working) and only 6.5 million unemployed.

Funny thing about unemployment is that I believe it only counts people who are collecting unemployment. The long-term unemployed who are no longer collecting unemployment aren't included. This isn't new so if you crowed about how low unemployment was under trump you don't get to bitch now.

Have we reached a tipping point where there are more retired people than working people? Seems early.

Yep, that’s the “lifestyle” meaning why work when Dems provide enough incentives not to….

[houndawg]

Funny thing about unemployment is that I believe it only counts people who are collecting unemployment. The long-term unemployed who are no longer collecting unemployment aren't included. This isn't new so if you crowed about how low unemployment was under trump you don't get to bitch now.

Have we reached a tipping point where there are more retired people than working people? Seems early.

Yep, that’s the “lifestyle” meaning why work when Dems provide enough incentives not to….

Dems are so mean!

[Caribbean Hen]

Yep, that’s the “lifestyle” meaning why work when Dems provide enough incentives not to….

Dems are so mean!

You’re such a Dem you don’t see the viciousness of the anointed

anyway, this will ultimately be what sends Joey to crap his Depends on Rehoboth Beach


https://www.cnn.com/2024/04/25/investin ... index.html

“If the delinquency rate of consumer loans starts rising, that is often a leading indicator for, ‘things are about to get worse,’” he said at a moderated panel hosted by the Society for Advancing Business Editing and Writing.

Americans are already struggling to keep up with their credit card payments. Credit card debt rose $143 billion during the fourth quarter of 2023 from the year before, according to data from the New York Fed. The rate at which credit cards and auto loans are transitioning into delinquency continued to top pre-pandemic levels. Delinquency transition rates rose for all debt types excluding student loans.

[Caribbean Hen]

Some more projections about how inflation/higher interest rates will impact the US in coming years

More important than climate change!

https://www.pgpf.org/analysis/2024/0...-national-debt

In February, the Congressional Budget Office (CBO) projected that annual net interest costs would total $870 billion in 2024 and almost double over the upcoming decade. That is equivalent to soaring from $951 billion in 2025 to $1.6 trillion in 2034 and summing to $12.4 trillion over that period.

The long-term fiscal challenges facing the United States are serious. Significant borrowing was necessary to respond to the COVID-19 pandemic; however, the structural imbalance between spending and revenues that existed before the pandemic is still large and will grow rapidly in the future. Furthermore, as interest rates rise and the nation’s debt grows, it will become even more expensive to borrow in the future. Congresses and Presidents of both parties, over many years, have avoided making hard choices about our budget and failed to put it on a sustainable path. It is vital for lawmakers to take action on the growing debt to ensure a stable economic future.

[BDKJMU]

161.5 million employed (dept of Labor April 2024)
336 + million US population (US Census population clock)

No way the above is true (only 48% of the population working) and only 6.5 million unemployed.

Funny thing about unemployment is that I believe it only counts people who are collecting unemployment. The long-term unemployed who are no longer collecting unemployment aren't included. This isn't new so if you crowed about how low unemployment was under trump you don't get to bitch now.

Have we reached a tipping point where there are more retired people than working people? Seems early.

According to Census, as of 2021 54 million over 65, compared to the above listed 161.5 million working.
https://www.census.gov/library/visualiz ... -2021.html

[UNI88]

Funny thing about unemployment is that I believe it only counts people who are collecting unemployment. The long-term unemployed who are no longer collecting unemployment aren't included. This isn't new so if you crowed about how low unemployment was under trump you don't get to bitch now.

Have we reached a tipping point where there are more retired people than working people? Seems early.

According to Census, as of 2021 54 million over 65, compared to the above listed 161.5 million working.
https://www.census.gov/library/visualiz ... -2021.html

Maybe women are staying home in the kitchen, barefoot, pregnant and making sammies where insecure MAQA yahoos want them.

[houndawg]

Some more projections about how inflation/higher interest rates will impact the US in coming years

More important than climate change!

https://www.pgpf.org/analysis/2024/0...-national-debt

In February, the Congressional Budget Office (CBO) projected that annual net interest costs would total $870 billion in 2024 and almost double over the upcoming decade. That is equivalent to soaring from $951 billion in 2025 to $1.6 trillion in 2034 and summing to $12.4 trillion over that period.

The long-term fiscal challenges facing the United States are serious. Significant borrowing was necessary to respond to the COVID-19 pandemic; however, the structural imbalance between spending and revenues that existed before the pandemic is still large and will grow rapidly in the future. Furthermore, as interest rates rise and the nation’s debt grows, it will become even more expensive to borrow in the future. Congresses and Presidents of both parties, over many years, have avoided making hard choices about our budget and failed to put it on a sustainable path. It is vital for lawmakers to take action on the growing debt to ensure a stable economic future.

Nothing is more important now than climate change. Your crowd is still about 10 years away from figuring that out.

[BDKJMU]

Some more projections about how inflation/higher interest rates will impact the US in coming years

More important than climate change!

https://www.pgpf.org/analysis/2024/0...-national-debt

In February, the Congressional Budget Office (CBO) projected that annual net interest costs would total $870 billion in 2024 and almost double over the upcoming decade. That is equivalent to soaring from $951 billion in 2025 to $1.6 trillion in 2034 and summing to $12.4 trillion over that period.

The long-term fiscal challenges facing the United States are serious. Significant borrowing was necessary to respond to the COVID-19 pandemic; however, the structural imbalance between spending and revenues that existed before the pandemic is still large and will grow rapidly in the future. Furthermore, as interest rates rise and the nation’s debt grows, it will become even more expensive to borrow in the future. Congresses and Presidents of both parties, over many years, have avoided making hard choices about our budget and failed to put it on a sustainable path. It is vital for lawmakers to take action on the growing debt to ensure a stable economic future.

Nothing is more important now than climate change. Your crowd is still about 10 years away from figuring that out.

Opinions are like assholes..

[houndawg]

Nothing is more important now than climate change. Your crowd is still about 10 years away from figuring that out.

Opinions are like assholes..

....the orifice from which all knowledge emanates has spoken.

[BDKJMU]

According to Census, as of 2021 54 million over 65, compared to the above listed 161.5 million working.
https://www.census.gov/library/visualiz ... -2021.html

Maybe women are staying home in the kitchen, barefoot, pregnant and making sammies where insecure MAQA yahoos want them.

Nope, big govt through high taxation made sure that is impossible for most.

[BDKJMU]

Some more projections about how inflation/higher interest rates will impact the US in coming years

More important than climate change!

https://www.pgpf.org/analysis/2024/0...-national-debt

In February, the Congressional Budget Office (CBO) projected that annual net interest costs would total $870 billion in 2024 and almost double over the upcoming decade. That is equivalent to soaring from $951 billion in 2025 to $1.6 trillion in 2034 and summing to $12.4 trillion over that period.

The long-term fiscal challenges facing the United States are serious. Significant borrowing was necessary to respond to the COVID-19 pandemic; however, the structural imbalance between spending and revenues that existed before the pandemic is still large and will grow rapidly in the future. Furthermore, as interest rates rise and the nation’s debt grows, it will become even more expensive to borrow in the future. Congresses and Presidents of both parties, over many years, have avoided making hard choices about our budget and failed to put it on a sustainable path. It is vital for lawmakers to take action on the growing debt to ensure a stable economic future.

Nothing is more important now than climate change. Your crowd is still about 10 years away from figuring that out.

And Densedawg now. Another lib with ‘10 years’ again..

[BDKJMU]

Some more projections about how inflation/higher interest rates will impact the US in coming years

More important than climate change!

https://www.pgpf.org/analysis/2024/0...-national-debt

In February, the Congressional Budget Office (CBO) projected that annual net interest costs would total $870 billion in 2024 and almost double over the upcoming decade. That is equivalent to soaring from $951 billion in 2025 to $1.6 trillion in 2034 and summing to $12.4 trillion over that period.

The long-term fiscal challenges facing the United States are serious. Significant borrowing was necessary to respond to the COVID-19 pandemic; however, the structural imbalance between spending and revenues that existed before the pandemic is still large and will grow rapidly in the future. Furthermore, as interest rates rise and the nation’s debt grows, it will become even more expensive to borrow in the future. Congresses and Presidents of both parties, over many years, have avoided making hard choices about our budget and failed to put it on a sustainable path. It is vital for lawmakers to take action on the growing debt to ensure a stable economic future.

Nothing is more important now than climate change. Your crowd is still about 10 years away from figuring that out.

[Caribbean Hen]

Nothing is more important now than climate change. Your crowd is still about 10 years away from figuring that out.

And Densedawg now. Another lib with ‘10 years’ again..

[kalm]

And Densedawg now. Another lib with ‘10 years’ again..

10 years ago, climate change didn’t exist for the right.

Today, it exists but it isn’t anthropomorphic. windmills and mining for rare earth metals is a concern.

I’m so happy at your progress!

[BDKJMU]

10 years ago, climate change didn’t exist for the right.

Today, it exists but it isn’t anthropomorphic. windmills and mining for rare earth metals is a concern.

I’m so happy at your progress!

Wrong, climate change has always existed. The weather is different every day

But there never has been, nor ever will be, a ‘climate emergency.’

[kalm]

10 years ago, climate change didn’t exist for the right.

Today, it exists but it isn’t anthropomorphic. windmills and mining for rare earth metals is a concern.

I’m so happy at your progress!

Wrong, the weather changing daily has always existed.

I guarantee you phrases like climate hoax and snarky examples of unusual snowfall in Buffalo once littered this forum.

I suppose next you guys will be recognizing the hockey stick graph and begin to realize the difference between climate change and weather.

[BDKJMU]

Wrong, the weather changing daily has always existed.

I guarantee you phrases like climate hoax and snarky examples of unusual snowfall in Buffalo once littered this forum.

I suppose next you guys will be recognizing the hockey stick graph and begin to realize the difference between climate change and weather.

Like I said, there is no climate emergency. Never has been or will be.

[UNI88]

10 years ago, climate change didn’t exist for the right.

Today, it exists but it isn’t anthropomorphic. windmills and mining for rare earth metals is a concern.

I’m so happy at your progress!

Wrong, climate change has always existed. The weather is different every day

But there never has been, nor ever will be, a ‘climate emergency.’

The same can be said for the election integrity emergency that so many MAQA yahoos have fallen for. Both sides are trying to erode our individual liberties and you support one of them.

[Caribbean Hen]

The Nasdaq was lifted by Nvidia, which rallied more than 7%. Weighing on shares during the session was a jump in Treasury yields as the latest auction was met with lukewarm demand. The 10-year yield jumped as much as seven basis points before paring some of that rise, but was firmly back above the key 4.5% threshold as the trading session wound down. 
Also weighing on investors were hawkish comments from Federal Reserve officials. Minneapolis Fed President Neel Kashkari reiterated that the central bank was not convinced inflation is falling quickly enough to warrant rate cuts. he went further still by saying more rate hikes aren't off the table if progress stalls. 

Kashkari parroting CH right here

Raise rates

[Caribbean Hen]

I’ve been asking for higher interest rates, but this article kind of explains why they can’t raise interest rates, even though inflation is not dead by a long shot. Not good

https://www.schiffsovereign.com/tren...record-150709/


whenever the government borrows money, they issue bonds in various denominations; these bonds can be as short as 28 days, all the way up to 30 years.
Whenever these bonds mature, the Treasury Department is obviously supposed to pay them back in full. Of course the federal government doesn’t actually have money to repay its debts. So, instead they issue new debt to pay back the old debt.
And the amount of money they have to raise just to repay old debts is staggering.
Last year alone the Treasury Department had to raise nearly $20 trillion to repay maturing bonds. Plus, they borrowed an additional $2.4 trillion in brand new debt on top of the $20 trillion.
Unbelievable.
And so far in just the first three months of 2024, the Treasury Department has issued a record $7.2 trillion in government bonds– shattering the previous record for quarterly debt issuance that was set in 2020 during the pandemic.
Out of last quarter’s $7.2 trillion debt issuance, roughly $600 billion of that was brand new debt… meaning that a whopping $6.6 trillion was borrowed to refinance existing debt.
To put that number in context, the total combined value of all bank deposits in the United States is $17.5 trillion. So merely refinancing the federal debt that matured last quarter alone required the equivalent of 37% of all US bank deposits.


This is why we believe the Federal Reserve will ultimately step in and ‘fix’ this problem by expanding the money supply and slashing interest rates.
The US government cannot afford to pay 5% interest on the national debt. Frankly they can’t even afford to pay 1%. The Fed understands this reality, and they know that the clock is ticking.
That’s why the Fed has been so vocal about cutting interest rates over the past few months, even though inflation has been rising.

[Caribbean Hen]

So i’ve been asking the question why would Janet Yellen be paying higher interest on a 28 day or 90 day treasury bond, than on the two-year and 10 year bond?

30 day yield about 1 % higher than 10 year yield

I know there’s an inverted yield curve, but she still doesn’t have to do that.

It’s just putting us further in debt and actually working against Jerome Powell’s efforts to cool inflation

Well, yesterday, my favorite senator came face-to-face with Janet Yellen and tried to get her to answer the question, but she couldn’t bring her self to do it

Senator Kennedy accused her of trying to sugarcoat JoBozo Rottens economy before the election.

[Caribbean Hen]

Biden’s tariffs on China are going to send prices higher

What Yellen is probably doing with her sneaky short term T bill weekly garage sales is give JoeBozos sick economy a little boost going into the election… lying old female dog

[Caribbean Hen]

well Fed Chairmen Powell needs to be replaced

started cutting rates in September when he didn't need to but needed to pump cash into Bidens miserable fake economy. Powell has now cut rates by 100 basis points since September... dumb

what has happened? not what they wanted

Since September Mortgage rates up a full point opposite of what they expected

The Ten year Bond yield has gone up 100 basis points and the bond market is basically telling us that Powell is wrong and Joey Rotten is leaving Trump with a fiscal disaster. Why? because when you cut rates the yield on the 10 years bond is supposed to go down, The market has no confidence in Powell as they keep compounding mistakes.

this is all bad news incoming administration, and they won't fully know the extent of Joey Rottens mistakes until they actually get in