Biden’s economy

[Anonymous]

counterpoint

FedEx Reports Higher Third Quarter Diluted EPS of $3.51 and Adjusted Diluted EPS of $3.86

Operating Income Up 19% Year Over Year; Up 16% on an Adjusted Basis
Reduces Capital Spending Forecast
Plans Additional $500 Million Share Repurchase in Fourth Quarter
Board of Directors Authorizes New $5 Billion Share Repurchase Program
Narrows Full-Year Earnings Outlook Range

MEMPHIS, Tenn., March 21 2024... FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the third quarter ended February 29 (adjusted measures exclude the items listed below):

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Credit card delinquency rates at Discover Financial, the 6th largest credit card issuer in America, just spiked to 2008 levels, according to Reventure.

At Discover, credit card delinquency rates in Q1 2024 jumped from 4.7% to 5.7% in Q1 2024.

To put this in perspective, delinquency rates going into 2022 were at just 1.5%.

This means that delinquency rates are nearly 4 TIMES higher than they were just 2 years ago.

Americans are still spending at record levels even as savings have been depleted.

Are we in a credit card debt bubble?

We are in some sort of bubble, anyone who has sense has stopped spending as much but it seems a lot of people just want to YOLO and keep up with the Joneses, no matter how much debt they are in.

Well, people start dumping boats, 2nd homes, RVs, etc when the music stops. That's when you want your dry powder ready.

The EV price declines are kinda shocking tbh.

Are any EV prices declining besides Tesla’s?

[Anonymous]

Anonymous wrote:counterpoint

FedEx Reports Higher Third Quarter Diluted EPS of $3.51 and Adjusted Diluted EPS of $3.86

Operating Income Up 19% Year Over Year; Up 16% on an Adjusted Basis
Reduces Capital Spending Forecast
Plans Additional $500 Million Share Repurchase in Fourth Quarter
Board of Directors Authorizes New $5 Billion Share Repurchase Program
Narrows Full-Year Earnings Outlook Range

MEMPHIS, Tenn., March 21 2024... FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the third quarter ended February 29 (adjusted measures exclude the items listed below):

+1, it looks like Fedex revenue was flat year over year. UPS appeared to have declines in revenue that were probably due to the effects of Amazon in-sourcing alot of its business (https://www.supplychaindive.com/news/ups-amazon-revenue-business-2023/708409/), which was clear in the previous quarter. Too bad the MAGAs don't understand nuance or analysis.

[Anonymous]

[Anonymous]

Anonymous wrote:

Here’s why that’s bad for Biden and the Democrats.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Here’s why that’s bad for Biden and the Democrats.

Average American: "The economy is terrible!"

Pollster: "So you're having trouble with bills? People you know are out of work?"

Average American: "Well no, I'm actually doing great. My mortgage is at 2.75% interest and I've gotten some big raises the past two years. And most of the people I know have more work than they can handle, except my nephew who is a programmer and got laid off from Facebook last year. He had to take a new programming job that's only paying $200K instead of the $300K he made at Facebook. But I hear the economy is terrible!!!!!!!!!!!"

People are saying...

[Anonymous]

I too am an average American and my pay has decreased. I haven’t received a bonus in 2 years since my company’s revenue is down. Our customer’s budgets are being slashed so they aren’t spending with us. My health insurance premium is up 40% as is my deductible and out of pocket minimums. My car and house insurance are also up. Groceries are up and we do not go out to eat anymore. My husband was laid off last year and it took months to find a new job at a 25% pay cut. So no, we are not doing better.

[Anonymous]

Anonymous wrote:I too am an average American and my pay has decreased. I haven’t received a bonus in 2 years since my company’s revenue is down. Our customer’s budgets are being slashed so they aren’t spending with us. My health insurance premium is up 40% as is my deductible and out of pocket minimums. My car and house insurance are also up. Groceries are up and we do not go out to eat anymore. My husband was laid off last year and it took months to find a new job at a 25% pay cut. So no, we are not doing better.

You need to job hop.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I too am an average American and my pay has decreased. I haven’t received a bonus in 2 years since my company’s revenue is down. Our customer’s budgets are being slashed so they aren’t spending with us. My health insurance premium is up 40% as is my deductible and out of pocket minimums. My car and house insurance are also up. Groceries are up and we do not go out to eat anymore. My husband was laid off last year and it took months to find a new job at a 25% pay cut. So no, we are not doing better.

You need to job hop.

Not the OP- but I really wish I could JOB-Hop- but can't because of my ASD. There no way you can tell I have it, only doing the interview I have too much anxiety since 2020, and I am making $50,000 yearly. I am just not sure what to do if I get a new job or anything. My company are using the same BS but last year they ended up reporting "record profits". I bet they will do the same this year, wish it was as easy for some people to job hop as it is for others.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Here’s why that’s bad for Biden and the Democrats.

Average American: "The economy is terrible!"

Pollster: "So you're having trouble with bills? People you know are out of work?"

Average American: "Well no, I'm actually doing great. My mortgage is at 2.75% interest and I've gotten some big raises the past two years. And most of the people I know have more work than they can handle, except my nephew who is a programmer and got laid off from Facebook last year. He had to take a new programming job that's only paying $200K instead of the $300K he made at Facebook. But I hear the economy is terrible!!!!!!!!!!!"

People are saying...

There was recently a big raft of polling where majorities of people reported that their state economies are doing great while still maintaining that the national economy is terrible. I will try to find it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Here’s why that’s bad for Biden and the Democrats.

Literally.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Here’s why that’s bad for Biden and the Democrats.

Average American: "The economy is terrible!"

Pollster: "So you're having trouble with bills? People you know are out of work?"

Average American: "Well no, I'm actually doing great. My mortgage is at 2.75% interest and I've gotten some big raises the past two years. And most of the people I know have more work than they can handle, except my nephew who is a programmer and got laid off from Facebook last year. He had to take a new programming job that's only paying $200K instead of the $300K he made at Facebook. But I hear the economy is terrible!!!!!!!!!!!"

People are saying...

There was recently a big raft of polling where majorities of people reported that their state economies are doing great while still maintaining that the national economy is terrible. I will try to find it.

I'd love to see the states ranked by the biggest Cognitive Dissonance gap. Would be fascinating to delve into. Behavioral economists must be having a field day with all this data. People are literally entranced by bad information.

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yeah, Trump doesn’t care about inflation. He already jawboned the Fed once to successfully lower rates and he would do it again as POTUS.

Big issue is that the Fed is dominated by Biden nominees. I fully expect Trump to try to fire all of the Fed Governors, save for Bowman and Waller.

Who appointed Powell?

Biden

Nope, try again.

Biden did dimwit. Literally appointed by Biden his first year in office. You idiots think it was Trump. But Biden had full control over the current Fed Chair and appointed Jerome.

Do you have Alzheimer's?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yeah, Trump doesn’t care about inflation. He already jawboned the Fed once to successfully lower rates and he would do it again as POTUS.

Big issue is that the Fed is dominated by Biden nominees. I fully expect Trump to try to fire all of the Fed Governors, save for Bowman and Waller.

Who appointed Powell?

Biden

Nope, try again.

Biden did dimwit. Literally appointed by Biden his first year in office. You idiots think it was Trump. But Biden had full control over the current Fed Chair and appointed Jerome.

Do you have Alzheimer's?

Both Trump and Biden appointed him.