Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The 10-year note yield is now up 90 basis points YTD and nearing 4.70% for the first time since November 2023. As treasury yields rise, we are seeing further pressure on stocks and other risky assets.

Meanwhile, the base case now shows just 2 interest rate cuts in 2024. Higher for longer is officially back and interest rates are surging quickly.

We will likely see 8% mortgages return soon and credit card interest rates will cross above 25%.

Bidenomics working!

Yup, the markets aren’t lying. Biden inflation is becoming entrenched. Because of it, we may have high interest rates for years.

what's Turmp's plan?

You do realize that a perfectly good plan is to simply do nothing, and that cutting spending helps inflation, right?


All Biden's plans include are stimi spending, billions in student loan forgiveness, rent moratoriums they were outrageouslyong, more free handouts, and never ending streams of cash injections into the economy that keep blowing up inflation and making everything worse.

Simply not spending money like a moron and allowing the Federal reserve's rate hikes to work is good for starters. Trump won't be doing stupid stimi spending and handing out so much free cash. He will also increase oil production, which will go a long way at reducing transportation costs. Everything the Biden administration does makes inflation worse and is blowing up all of our life's savings.

"U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday.
In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the agency said.
"The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row," the EIA added."

https://www.reuters.com/markets/commodities/us-leads-global-oil-production-sixth-straight-year-eia-2024-03-11/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The 10-year note yield is now up 90 basis points YTD and nearing 4.70% for the first time since November 2023. As treasury yields rise, we are seeing further pressure on stocks and other risky assets.

Meanwhile, the base case now shows just 2 interest rate cuts in 2024. Higher for longer is officially back and interest rates are surging quickly.

We will likely see 8% mortgages return soon and credit card interest rates will cross above 25%.

Bidenomics working!

Yup, the markets aren’t lying. Biden inflation is becoming entrenched. Because of it, we may have high interest rates for years.

what's Turmp's plan?

You do realize that a perfectly good plan is to simply do nothing, and that cutting spending helps inflation, right?


All Biden's plans include are stimi spending, billions in student loan forgiveness, rent moratoriums they were outrageouslyong, more free handouts, and never ending streams of cash injections into the economy that keep blowing up inflation and making everything worse.

Simply not spending money like a moron and allowing the Federal reserve's rate hikes to work is good for starters. Trump won't be doing stupid stimi spending and handing out so much free cash. He will also increase oil production, which will go a long way at reducing transportation costs. Everything the Biden administration does makes inflation worse and is blowing up all of our life's savings.

Cutting taxes fuels inflation. He's promised that. What spending has he proposed cutting? He has a republican congress for two years and grew spending in that time

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The 10-year note yield is now up 90 basis points YTD and nearing 4.70% for the first time since November 2023. As treasury yields rise, we are seeing further pressure on stocks and other risky assets.

Meanwhile, the base case now shows just 2 interest rate cuts in 2024. Higher for longer is officially back and interest rates are surging quickly.

We will likely see 8% mortgages return soon and credit card interest rates will cross above 25%.

Bidenomics working!

Yup, the markets aren’t lying. Biden inflation is becoming entrenched. Because of it, we may have high interest rates for years.

what's Turmp's plan?

You do realize that a perfectly good plan is to simply do nothing, and that cutting spending helps inflation, right?


All Biden's plans include are stimi spending, billions in student loan forgiveness, rent moratoriums they were outrageouslyong, more free handouts, and never ending streams of cash injections into the economy that keep blowing up inflation and making everything worse.

Simply not spending money like a moron and allowing the Federal reserve's rate hikes to work is good for starters. Trump won't be doing stupid stimi spending and handing out so much free cash. He will also increase oil production, which will go a long way at reducing transportation costs. Everything the Biden administration does makes inflation worse and is blowing up all of our life's savings.

Cutting taxes fuels inflation. He's promised that. What spending has he proposed cutting? He has a republican congress for two years and grew spending in that time

Cutting spending is something Republicans say during election season...and soon as they get into power, forget about it.

[Anonymous]

[Anonymous]

Latest List of Layoffs Over Last 4 Months:

1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Tesla: 10% of workforce
9. Duolingo: 10% of workforce
10. Washington Post: 10% of workforce
11. Snapchat: 10% of workforce
12. eBay: 9% of workforce
13. PayPal: 9% of workforce
14. Business Insider: 8% of workforce
15. Charles Schwab: 6% of workforce
16. Macy's: 4% of workforce
17. Blackrock: 3% of workforce
18. Citigroup: 20,000 employees
19. UPS: 12,000 employees
20. Cisco: "Thousands" of employees

In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

[Anonymous]

Anonymous wrote:Latest List of Layoffs Over Last 4 Months:

1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Tesla: 10% of workforce
9. Duolingo: 10% of workforce
10. Washington Post: 10% of workforce
11. Snapchat: 10% of workforce
12. eBay: 9% of workforce
13. PayPal: 9% of workforce
14. Business Insider: 8% of workforce
15. Charles Schwab: 6% of workforce
16. Macy's: 4% of workforce
17. Blackrock: 3% of workforce
18. Citigroup: 20,000 employees
19. UPS: 12,000 employees
20. Cisco: "Thousands" of employees

In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

As someone that runs a small tech business, and in touch with a bunch of others in similar spaces, I can assure you that there is no softening in the tech market. Good talent is still extremely hard to find.

[Anonymous]

Anonymous wrote:

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

Wrong. There was an increase in March of 593,000 part-time employees for NON-ECONOMIC reasons (i.e., they do not want full-time employment). Many probably are retirees who intentionally transitioned from full-time to part-time work.

The number of part-time for ECONOMIC reasons (i.e., they want to work full-time) dropped by 68,000.

There are now 22.9 million workers in the U.S. who intentionally work part-time.

https://www.bls.gov/news.release/pdf/empsit.pdf

[Anonymous]

Anonymous wrote:Latest List of Layoffs Over Last 4 Months:

1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Tesla: 10% of workforce
9. Duolingo: 10% of workforce
10. Washington Post: 10% of workforce
11. Snapchat: 10% of workforce
12. eBay: 9% of workforce
13. PayPal: 9% of workforce
14. Business Insider: 8% of workforce
15. Charles Schwab: 6% of workforce
16. Macy's: 4% of workforce
17. Blackrock: 3% of workforce
18. Citigroup: 20,000 employees
19. UPS: 12,000 employees
20. Cisco: "Thousands" of employees

In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

Technology is going to increasingly replace jobs. The financial sector is very vulnerable to being outsourced to AI. There is just nothing to be done about that by any President. Hasbro is unfortunately the victim of Disney, who ran Star Wars and Marvel into the ground over the last few years with its agenda-driven production.

[Anonymous]

The number of initial filings for unemployment insurance has been the same 5 of the last 6 weeks reported. How is this statistically possible?

Effectively the same number in the last 11 weeks, except for the holiday weeks (President's Day and Easter).
---
Consider

The US is a $28 trillion economy. It has 160 million workers.

Initial claims for unemployment insurance are state programs, with 50 state rules, hundreds of offices, and 50 websites to file. Weather, seasonality, holidays, and economic vibrations drive the number of people filing claims from week to week.

Yet this measure is so stable that it does not vary by even 1,000 applications a week.

Just the number of applications incorrectly filed out every week should cause it to vary more than this

[Anonymous]

Anonymous wrote:

Anonymous wrote:Latest List of Layoffs Over Last 4 Months:

1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Tesla: 10% of workforce
9. Duolingo: 10% of workforce
10. Washington Post: 10% of workforce
11. Snapchat: 10% of workforce
12. eBay: 9% of workforce
13. PayPal: 9% of workforce
14. Business Insider: 8% of workforce
15. Charles Schwab: 6% of workforce
16. Macy's: 4% of workforce
17. Blackrock: 3% of workforce
18. Citigroup: 20,000 employees
19. UPS: 12,000 employees
20. Cisco: "Thousands" of employees

In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

As someone that runs a small tech business, and in touch with a bunch of others in similar spaces, I can assure you that there is no softening in the tech market. Good talent is still extremely hard to find.

Good for you. However in the wider world of large tech companies, they are laying off people left and right. My company had a 20% RIF a few months ago that laid off 1800 people. Good paying jobs just gone.

But Biden loves to tout about all the minimum wage service jobs he has created!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Latest List of Layoffs Over Last 4 Months:

1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Tesla: 10% of workforce
9. Duolingo: 10% of workforce
10. Washington Post: 10% of workforce
11. Snapchat: 10% of workforce
12. eBay: 9% of workforce
13. PayPal: 9% of workforce
14. Business Insider: 8% of workforce
15. Charles Schwab: 6% of workforce
16. Macy's: 4% of workforce
17. Blackrock: 3% of workforce
18. Citigroup: 20,000 employees
19. UPS: 12,000 employees
20. Cisco: "Thousands" of employees

In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

As someone that runs a small tech business, and in touch with a bunch of others in similar spaces, I can assure you that there is no softening in the tech market. Good talent is still extremely hard to find.

Good for you. However in the wider world of large tech companies, they are laying off people left and right. My company had a 20% RIF a few months ago that laid off 1800 people. Good paying jobs just gone.

But Biden loves to tout about all the minimum wage service jobs he has created!

You are complaining about private sector decisions, particularly in light of AI and other advancements that make humans more expendable. Biden is creating jobs. That is more than Trump or any GOP president can really say over the past 40 years. What is the GOP solution to creating meaningful jobs in the US? Biden has the CHIPS act, which is bringing billions of investment and hundreds of thousands of line jobs to the US; Biden is providing money for new housing, again creating jobs in construction, real estate and services. I could go on, but there is no GOP solution because the "oligarchs" are their masters and they are the ones who own the big companies that are affecting the layoffs you are complaining about, because it helps the bottom line and thus the price of a share of stock on the NYSE.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Latest List of Layoffs Over Last 4 Months:

1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Tesla: 10% of workforce
9. Duolingo: 10% of workforce
10. Washington Post: 10% of workforce
11. Snapchat: 10% of workforce
12. eBay: 9% of workforce
13. PayPal: 9% of workforce
14. Business Insider: 8% of workforce
15. Charles Schwab: 6% of workforce
16. Macy's: 4% of workforce
17. Blackrock: 3% of workforce
18. Citigroup: 20,000 employees
19. UPS: 12,000 employees
20. Cisco: "Thousands" of employees

In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.

Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.

Is the labor market finally starting to soften?

As someone that runs a small tech business, and in touch with a bunch of others in similar spaces, I can assure you that there is no softening in the tech market. Good talent is still extremely hard to find.

Good for you. However in the wider world of large tech companies, they are laying off people left and right. My company had a 20% RIF a few months ago that laid off 1800 people. Good paying jobs just gone.

But Biden loves to tout about all the minimum wage service jobs he has created!

You are complaining about private sector decisions, particularly in light of AI and other advancements that make humans more expendable. Biden is creating jobs. That is more than Trump or any GOP president can really say over the past 40 years. What is the GOP solution to creating meaningful jobs in the US? Biden has the CHIPS act, which is bringing billions of investment and hundreds of thousands of line jobs to the US; Biden is providing money for new housing, again creating jobs in construction, real estate and services. I could go on, but there is no GOP solution because the "oligarchs" are their masters and they are the ones who own the big companies that are affecting the layoffs you are complaining about, because it helps the bottom line and thus the price of a share of stock on the NYSE.

People better get used to fewer and fewer jobs being available. Today/tomorrow's job market will just never look like job markets from the past.

"While many businesses will likely harness the power of AI to perform many repetitive, boring, and often thankless functions, the world's major investment banks are already doing it. According to a New York Times report, top U.S. financial firms including Goldman Sachs, Morgan Stanley, and JPMorgan are particularly keen to use those generative computer programs to replace thousands of young people recruited each year as trainee analysts.

Of course, substituting people with AI also means cutting jobs--a lot of them. Investment banking executives told the paper the machine learning programs, which will get smarter as they hoover up more data, may allow them to reduce current "hiring of junior investment banking analysts by as much as two-thirds, and slash the pay of those" who do sign on. Those employers stand to save hundreds of millions of dollars and reduce headcount through AI tech."

https://www.inc.com/bruce-crumley/junior-investment-banking-analyst-jobs-may-disappear-as-ai-makes-industry-inroads.html

[Anonymous]

Uh oh

The stock market is down 25% measured by gold price from where is was on Trumps last day.

That gives a more accurate portrait of inflation than the ridiculous post 2000 manipulated cpi formula.

[Anonymous]

Gold price? This isn't 1968.

[Anonymous]

Anonymous wrote:Gold price? This isn't 1968.

Central banks are buying gold at an accelerated rate. Especially BRICS nations