Has Powell and Co ushered in a possible recession?

[struth]

Joe is more qualified to be prez right now than trump ever was or ever will be.

That’s why a record number of Americans were better off then before harris and xiden took office

 

[SassyIrishLass]

That’s why a record number of Americans were better off then before harris and xiden took office

They'll try to blame Orange Man... just wait

 

[struth]

They'll try to blame Orange Man... just wait

To be fair, it is trumps fault a record number of Americans were better off when he was president

 

[SassyIrishLass]

To be fair, it is trumps fault a record number of Americans were better off when he was president

Yeah but I meant their precious Bidenomics imploding. And it is

 

[Toddsterpatriot]

Nothing demonstrates the Dunning-Kruger Effect more vividly than a Trumpster talking macroeconomics.

Except when a Harris supporter tries.

 

[scruffy]

Who will be blamed? Harris.

Yep.

I've been talking about this for MONTHS.

It's been more than obvious to anyone on the ground, that the Biden regime has been LYING to us about economic conditions.

Anyone who believes inflation is 3% is totally fucking brain dead.

Gas, food, and housing prices have DOUBLED since the Dems took over.

 

[scruffy]

They were elected, took office in 2021....inflation skyrocketed.

Their polices.

2024​

3.1​

3.2​

3.5​

3.4​

3.3​

3.0​

Avail. Aug. 14​

​

​

​

​

​

​

2023​

6.4​

6.0​

5.0​

4.9​

4.0​

3.0​

3.2​

3.7​

3.7​

3.2​

3.1​

3.4​

4.1​

2022​

7.5​

7.9​

8.5​

8.3​

8.6​

9.1​

8.5​

8.3​

8.2​

7.7​

7.1​

6.5​

8.0​

2021​

1.4​

1.7​

2.6​

4.2​

5.0​

5.4​

5.4​

5.3​

5.4​

6.2​

6.8​

7.0​

4.7​

Yep. It started on the very day they took office.

 

[bendog]

Yields on the long bonds dropped precipitously today, a continuation of a decline from their peak following the inflationary spiral caused by the post COVID supply chain shock, when jobless claims came in higher than expected. Consumer oriented companies have been reporting a slowdown in spending for over a month now. Manufacturing ISM came in lower than expected.

The Dow Jones Industrial Average fell Thursday, as fresh data stoked concerns over the state of the U.S. economy.

The 30-stock Dow dropped 313 points, or nearly 0.8%. The S&P 500 shed 0.3%, while the Nasdaq Composite slipped 0.4%.

Initial jobless claims rose to 249,000 for the week ended in July 27, higher than a Dow Jones forecast of 235,000. The ISM manufacturing index came in at 46.8, adding to a broader picture of slowing economic activity.

That data follows the Federal Reserve keeping rates unchanged and Chair Jerome Powell signaling a September rate is on the table. Yields fell Thursday as investors digested Powell’s comments, with the benchmark 10-year Treasury yield reaching its lowest level since Feb. 2.
https://www.cnbc.com/2024/07/31/stock-market-today-live-updates.html

Fed chair Powell says a rate cut is on the table for Sept. Meaning the Fed is once again behind the curve. He has essentially said a recession is acceptable if that's what is necessary to get inflation to the Fed's 2% target. He'd rather put you out of your job than have you pay a little more for good and services.

Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%
https://www.cnbc.com/2024/08/02/job...nemployment-rate-rises-to-4point3percent.html

Once again the Fed got it wrong. It left rates too high too long.

Who will be blamed? Harris.

yes and yes

 

[struth]

Yep. It started on the very day they took office.

Yes they started putting their policies in place and the markets responded right away

 

[my2¢]

As Paul Volcker demonstrated during the Carter and Reagan's administrations, slowing the economy is the best means to combat inflation. Recession isn't bad for those that already have, but it comes at a cost for many of those aspiring to a steady financial situation.

I remember sitting in the barber chair sometime around 1969-1972 when two old coots waiting their turn were saying what the country needed was a "good old-fashioned depression". As a high schooler thinking it over, I soon came to conclusion that what they said made sense for them. However, at that stage in my life, I would soon be dependent on growing economic opportunities. Now I'm in the old coot situation that has his.

The Fed may be a month or so behind in lowering rates but the Fed's inaction during the period of 2012-2019 was more troubling when interest rates were kept ridiculously low and not steadily restored back to normal as the country recovered from the Great Recession.

 

[Harpy Eagle]

As Paul Volcker demonstrated during the Carter and Reagan's administrations, slowing the economy is the best means to combat inflation. Recession isn't bad for those that already have, but it comes at a cost for many of those aspiring to a steady financial situation.

I remember sitting in the barber chair sometime around 1969-1972 when two old coots waiting their turn were saying what the country needed was a "good old-fashioned depression". As a high schooler thinking it over, I soon came to conclusion that what they said made sense for them. However, at that stage in my life, I would soon be dependent on growing economic opportunities. Now I'm in the old coot situation that has his.

The Fed may be a month or so behind in lowering rates but the Fed's inaction during the period of 2012-2019 was more troubling when interest rates were kept ridiculously low and not steadily restored back to normal as the country recovered from the Great Recession.

I have thought about this before, but if you have a job and do not think you will lose it, what is the worst part of a recession?

 

[Toddsterpatriot]

I have thought about this before, but if you have a job and do not think you will lose it, what is the worst part of a recession?

New governmental actions and wasteful spending to "fix it".

 

[Dragonlady]

As well as it should be.....Pain is the only thing leftists understand.....Of course that does not affect the leftist leaders and their oligarch/Hollywood fellow travelers.....Just the "lesser dems" and anyone else in the way.

What a stupid comment, but then you're hardly an astute commentator on anything to do with the economy. And you post your idiocy with such authority. "Pain is the only thing Democrats know".

I guess you think there is no economic "pain" to average Americans when Republicans crash the economy to benefit their wealthy donors. Or that there's no "pain" when medical debt crushes a family.

Of course this implies that Democrats created the inflation that is crushing poor American families and Republican policies under Trump did NOTHING to create that inflation. For example, Trump signing an Agreement with OPEC on December 4, 2020 which kept crude oil production low throughout 2021, as vaccines became widely available, and the world started reopening as the pandemic eased.

OPEC : The 12th OPEC and non-OPEC Ministerial Meeting concludes

Trump signed this Agreement so that American oil companies could profit bigly from the shortages which would happen when demand increased. He didn't care what happened to American consumers when prices rose.

Trump has a life long history of bad decisions. That's what lead to 7 bankruptcies, 4000+ law suits, and hundreds of business failures. They also lead to 1 million dead from covid, and your trade deficit rising by 30% over 4 years.

Why would you want to let him screw you over again?????

 

[1srelluc]

What a stupid comment, but then you're hardly an astute commentator on anything to do with the economy. And you post your idiocy with such authority. "Pain is the only thing Democrats know".

I guess you think there is no economic "pain" to average Americans when Republicans crash the economy to benefit their wealthy donors. Or that there's no "pain" when medical debt crushes a family.

Of course this implies that Democrats created the inflation that is crushing poor American families and Republican policies under Trump did NOTHING to create that inflation. For example, Trump signing an Agreement with OPEC on December 4, 2020 which kept crude oil production low throughout 2021, as vaccines became widely available, and the world started reopening as the pandemic eased.

OPEC : The 12th OPEC and non-OPEC Ministerial Meeting concludes

Trump signed this Agreement so that American oil companies could profit bigly from the shortages which would happen when demand increased. He didn't care what happened to American consumers when prices rose.

Trump has a life long history of bad decisions. That's what lead to 7 bankruptcies, 4000+ law suits, and hundreds of business failures. They also lead to 1 million dead from covid, and your trade deficit rising by 30% over 4 years.

Why would you want to let him screw you over again?????

Hoser says what?

 

[Papageorgio]

Of course it matters who gets blamed. We have an election in a few months. The Biden admin has been falsely blamed for inflation and now it will be blamed for the economic slowdown brought about by high interest rates.

Biden was quick to take credit for all the good news that he had nothing to do with and now you are upset he is getting blamed for bad news? Live by the sword, die by the sword.

 

[Papageorgio]

What a stupid comment, but then you're hardly an astute commentator on anything to do with the economy. And you post your idiocy with such authority. "Pain is the only thing Democrats know".

I guess you think there is no economic "pain" to average Americans when Republicans crash the economy to benefit their wealthy donors. Or that there's no "pain" when medical debt crushes a family.

Of course this implies that Democrats created the inflation that is crushing poor American families and Republican policies under Trump did NOTHING to create that inflation. For example, Trump signing an Agreement with OPEC on December 4, 2020 which kept crude oil production low throughout 2021, as vaccines became widely available, and the world started reopening as the pandemic eased.

OPEC : The 12th OPEC and non-OPEC Ministerial Meeting concludes

Trump signed this Agreement so that American oil companies could profit bigly from the shortages which would happen when demand increased. He didn't care what happened to American consumers when prices rose.

Trump has a life long history of bad decisions. That's what lead to 7 bankruptcies, 4000+ law suits, and hundreds of business failures. They also lead to 1 million dead from covid, and your trade deficit rising by 30% over 4 years.

Why would you want to let him screw you over again?????

Two largest transitions in wealth in the United States from poor, middle class to the wealthy happened under Obama and Biden’s watch and Biden wanted to add a $6.4 trillion spending package to further the transfer. I don’t see Dems or the GOP helping the middle class or poor in our country. The Dems are the party of the rich.

 

[Dragonlady]

As Paul Volcker demonstrated during the Carter and Reagan's administrations, slowing the economy is the best means to combat inflation. Recession isn't bad for those that already have, but it comes at a cost for many of those aspiring to a steady financial situation.

I remember sitting in the barber chair sometime around 1969-1972 when two old coots waiting their turn were saying what the country needed was a "good old-fashioned depression". As a high schooler thinking it over, I soon came to conclusion that what they said made sense for them. However, at that stage in my life, I would soon be dependent on growing economic opportunities. Now I'm in the old coot situation that has his.

The Fed may be a month or so behind in lowering rates but the Fed's inaction during the period of 2012-2019 was more troubling when interest rates were kept ridiculously low and not steadily restored back to normal as the country recovered from the Great Recession.

Instead of cutting taxes, Trump should have looked at the cash surpluses all of these companies had on their books, increased the minimum wage and actually invested in infrastructure, instead of continuing down the road of cut, spend and crash the economy that helps the billionaires, and screws over everyone else.

Interest rates should have been raised, then when covid hit, he would have had more options, and a much lower deficit to help deal with it.

 

[Dragonlady]

Biden was quick to take credit for all the good news that he had nothing to do with and now you are upset he is getting blamed for bad news? Live by the sword, die by the sword.

What good news had Biden claimed that he had nothing to do with? Please be specific.

The job creation? Lowering of the deficit? Settling the trade wars? Rolling out the vaccines? The CHiPS Act? The American Recovery Act? The Inflation Reduction Act? The Instrastructure Act? Student Loan Foregiveness??? Reducing crime???

Which of these things should Biden not take credit for????

 

[Papageorgio]

Instead of cutting taxes, Trump should have looked at the cash surpluses all of these companies had on their books, increased the minimum wage and actually invested in infrastructure, instead of continuing down the road of cut, spend and crash the economy that helps the billionaires, and screws over everyone else.

Interest rates should have been raised, then when covid hit, he would have had more options, and a much lower deficit to help deal with it.

The pandemic crashed the economy, when you shut down businesses the economy goes into the tank, Trump had nothing to do with it.

 

[Papageorgio]

What good news had Biden claimed that he had nothing to do with? Please be specific.

The job creation? Lowering of the deficit? Settling the trade wars? Rolling out the vaccines? The CHiPS Act? The American Recovery Act? The Inflation Reduction Act? The Instrastructure Act? Student Loan Foregiveness??? Reducing crime???

Which of these things should Biden not take credit for????

He can take credit for all of it if he wants but he gets blame as well. The fed reduced inflation by increasing interest rates, Biden took credit for that. The Inflation Reduction Act did not reduce inflation. One Year Later, Even President Biden Admits the “Inflation Reduction Act” Failed to Lower Costs for Americans

The debt lowered for a couple reasons, we went back to work and paid taxes and didn’t pass anymore ridiculous spending bills like the American Recovery Act which led to inflation and Sinema and Manchin said no to a Biden’s $6.4 trillion spending package that would have sent debt higher and increased inflation into double digits.

I’m being nice not saying he had little to do with the economy either way because the economy is its own monster.