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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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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Nodack
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Re: The US Economy

Post by Nodack »

USA Pump Prices Post Longest Falling Streak Since 2015
https://www.rigzone.com/news/wire/usa_p ... 4-article/
Gasoline prices in the US have fallen for 70 days straight, the longest down streak since January 2015.

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Mori Chu
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Re: The US Economy

Post by Mori Chu »

Nodack wrote:
Tue Aug 23, 2022 11:26 am
USA Pump Prices Post Longest Falling Streak Since 2015
https://www.rigzone.com/news/wire/usa_p ... 4-article/
Gasoline prices in the US have fallen for 70 days straight, the longest down streak since January 2015.
I mean, I'm happy to see prices go down. But we need to get over this idea that the US President somehow has the magical power to dictate the world's petroleum prices. US federal policy has some effect, sure, but there is just so much more to it. And everybody should just get used to the fact that petroleum is going to become increasingly scarce in the future and that prices are going to go WAY up in the next 10-20 years. That will happen regardless of whether the President is a Republican or a Democrat. I just don't think it is a suitable thing to give the President praise or criticism for. (I generally feel the same way about the stock market, but that's another story.)

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Mori Chu
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Re: The US Economy

Post by Mori Chu »

Yesterday was a rough day for the ol' stock market.


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Nodack
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Re: The US Economy

Post by Nodack »

Mori Chu wrote:
Tue Aug 23, 2022 11:57 am
Nodack wrote:
Tue Aug 23, 2022 11:26 am
USA Pump Prices Post Longest Falling Streak Since 2015
https://www.rigzone.com/news/wire/usa_p ... 4-article/
Gasoline prices in the US have fallen for 70 days straight, the longest down streak since January 2015.
I mean, I'm happy to see prices go down. But we need to get over this idea that the US President somehow has the magical power to dictate the world's petroleum prices. US federal policy has some effect, sure, but there is just so much more to it. And everybody should just get used to the fact that petroleum is going to become increasingly scarce in the future and that prices are going to go WAY up in the next 10-20 years. That will happen regardless of whether the President is a Republican or a Democrat. I just don't think it is a suitable thing to give the President praise or criticism for. (I generally feel the same way about the stock market, but that's another story.)
In politics everything is fair game for praise or criticism. Gas prices go down? Dems will take credit and Cons will say Dems don’t have control over gas prices. Gas prices go up? Dems will say they have no control over it and Cons will blame them. A good economic report? Dems will take credit for it. Cons will say the figures are all fake. A bad economic report card? Cons will say the report is very accurate and shows Dems suck. It goes both ways.

Politics.

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Nodack
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Re: The US Economy

Post by Nodack »

The world economy is under a lot of stress including the US. This definitely will not help.

https://thehill.com/blogs/blog-briefing ... ply-chain/
More than 115,000 rail workers are legally allowed to strike as of Friday, a move that would shut down the transport of food, fuel and other goods, likely damaging the nation’s strained supply chains and driving up prices.

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Mori Chu
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Re: The US Economy

Post by Mori Chu »

Not really about "the economy," but it's about money. Read this if you want to get mad. Look at how crooked our elected officials are, buying and selling stocks to personally enrich themselves by leveraging inside information they have about how their own actions will affect the markets. In some cases they made millions of dollars and even had 100% successful / positive investment rate, which is virtually unheard of. And yes, this one spans both political parties.


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Superbone
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Re: The US Economy

Post by Superbone »

You act like you're surprised.
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