US economy now possibly the best (politician, government, states, status)

[EDS_]

Originally Posted by TMSRetired

If Powell was "spot on" we would have had a rate drop last meeting.

As it is, we did not get that.
And after today's CPI we will not get one next meeting.

Now if you call that "spot on"....well I have oceanfront properties in Montana to sell.

But it's election year so we can only hear happy news from the talking heads....that is until. the data comes out.

Lowering rates last meeting would have been a terrible move.

[Hoonose]

Originally Posted by TMSRetired

If Powell was "spot on" we would have had a rate drop last meeting.

As it is, we did not get that.
And after today's CPI we will not get one next meeting.

Now if you call that "spot on"....well I have oceanfront properties in Montana to sell.

But it's election year so we can only hear happy news from the talking heads....that is until. the data comes out.

Spot on because so far a soft landing. The economy is improving, our inflation is coming down, the USD stays strong, and no recession.

[ChrisC]

Bunch of horse****. Tell my grocery prices that. A jar of blueberry preserves that costed $4.99 just a few short yeas ago are now $8.99. Almost double. My wages sure haven't doubled over the past four years.

And I'm sure a good portion of America actually belief that BS rather than their own eyes and pocketbooks. They'd believe bears can fly if a worthless government lackey told them so.

[USNRET04]

Originally Posted by MMS02760

Record low unemployment
Record High Stock Market

Let's not forget how they count record unemployment. If you hold 2 or more jobs that increases the numbers.

People who lose one job and is hired again. Union workers who went on strike and start working again. Etc...

American families are suffering under a 6% annual inflation on household expenses, eating out, etc... Three times the normal rate of inflation.

As the author Sir Arthur C. Clarke said, “Only small minds are impressed by large numbers.”

[Listener2307]

Originally Posted by ChrisC

Bunch of horse****. Tell my grocery prices that. A jar of blueberry preserves that costed $4.99 just a few short yeas ago are now $8.99. Almost double. My wages sure haven't doubled over the past four years.

And I'm sure a good portion of America actually belief that BS rather than their own eyes and pocketbooks. They'd believe bears can fly if a worthless government lackey told them so.

If you used all your paycheck to buy the blueberries you would really have a problem. But you don't.
Inflation is a little more complicated than selecting a grocery item - at least for most people. The very poorest are spending the most, as a percentage, on groceries. They have a real problem.


For you and me, sitting in our comfortable homes browsing the Internet with our computers, life goes on. Our homes appreciate, our cars depreciate very little, and our stock market investments are at a multi year high. The price increase of blueberries matters very little since we make it up in other places.

[lottamoxie]

Originally Posted by scorpio516

So the economy will never be good again?

Since 1970 there have only been 2 times there has been deflation: March-October 2009 and March and April 2015. 2015 deflation averaged -0.1% year-over-year. In 2009, deflation peaked at -1.5%

Never said that. I highlighted the metrics the average American tends to look at to decide if "the economy" is good or not, in their opinion.

[Variable]

Originally Posted by USNRET04

American families are suffering under a 6% annual inflation

The annual inflation rate for the United States was 3.1% for the 12 months ending January 31, 2024

https://www.usinflationcalculator.co...flation-rates/

[Sunbiz1]

Front page of Marketwatch right now:
"The Atlanta Federal Reserve's estimate of U.S. economic growth in the first quarter, known as GDPNow, was REDUCED to 2.9% from 3.4% after a big drop in retail sales in January."

People are broke.

[hifijohn]

The economy is going great,just ignore the crime homelessness and empty storefronts .

[Crossfire600]

Originally Posted by Cida

So much has been written about the mystery of the economy doing well, but people not completely registering it.

Apparently it's not just that our economy is doing well for us, but that it's even doing well in comparison to other countries.



The Soft Landing Is Global, but It’s Cushiest in America
Economies all over the world are lowering inflation while avoiding serious recession — but growth in the United States stands out.
“This is a good situation, let’s be honest, this is a good economy,” Jerome H. Powell, the chair of the U.S. Federal Reserve.
https://www.nytimes.com/2024/02/02/b...inflation.html

You can keep a house of cards from falling for a while by printing trillions of dollars to fund a government that hires 60% of all workers.. do some research on those job numbers. Focus on who is hiring then look at the originally published numbers then the very quietly adjusted numbers. I'm Someday, the money printing will stop and the cards will all fall.

God help us all if anyone thinks this is driven by private sector growth. The government cannot generate income and earnings. Only take from one and give to another.

As you stated, let's be honest. We are witnessing a train wreck and that is why you're seeing so so so many politicians jumping ship and retiring. They are getting the hell out of dodge.

We are like a little boy whistling in the dark trying to keep his spirits up. Gray for our children and grand children. Rough times ahead for them.