The US Economy

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Mori Chu
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The US Economy

Post by Mori Chu »

So, are we in a recession? Some of the latest numbers are pretty grim.


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Indy
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Re: The US Economy

Post by Indy »

I think you kind of have to pick a side (not you specifically, Marty). Inflation/Recession are two sides to a coin, although not exactly inverses. If inflation is getting too much, a recession brings that back down.

Although it is really weird to see hundreds of thousands of jobs being added quarter after quarter, but still be in a recession.

All I know is that when I do my monthly analysis of my retirement portfolio on August 1st, I will likely have 300-400k less than I did earlier this year.

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Mori Chu
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Re: The US Economy

Post by Mori Chu »

Strong jobs report. 528K new jobs. Unemployment rate drops to 3.5%, wages accelerate to 5.2% YOY. Economists had expected 25K new jobs and the unemployment rate to hold steady at 3.6%. Even Fox News begrudgingly has to admit that it is good news, LOL.


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Indy
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Re: The US Economy

Post by Indy »

Mori Chu wrote:
Fri Aug 05, 2022 7:14 am
Strong jobs report. 528K new jobs. Unemployment rate drops to 3.5%, wages accelerate to 5.2% YOY. Economists had expected 25K new jobs and the unemployment rate to hold steady at 3.6%. Even Fox News begrudgingly has to admit that it is good news, LOL.
250k were expected.

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Nodack
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Re: The US Economy

Post by Nodack »

I can’t believe FOX would ever admit something good happened under Biden. That person is probably fired by now.😎

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Mori Chu
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Re: The US Economy

Post by Mori Chu »

Lost in all the crazy news this week, some economic numbers came out today and it looks like inflation is capping out. Gas prices are down a bit. Things may be leveling off.


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Nodack
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Re: The US Economy

Post by Nodack »

And since June the stock market has been climbing.

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