Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:.1%

Woohooo

Will this be revised next month to .000000000001% ?

Uh, it means deflation is actually happening. Deride it all you want but that means costs are coming down. You know, the thing everyone is complaining about?

A decrease in the inflation rate does not mean deflation. Prices aren't going down. They are just rising more slowly.

I can't tell from the quoted thread what metrics are actually being cited and don't have enough interest to dig through the rest of the topic. But a reduction in inflation is probably good where actual deflation would be bad. An economy experiencing deflation is usually in trouble.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:.1%

Woohooo

Will this be revised next month to .000000000001% ?

Uh, it means deflation is actually happening. Deride it all you want but that means costs are coming down. You know, the thing everyone is complaining about?

A decrease in the inflation rate does not mean deflation. Prices aren't going down. They are just rising more slowly.

I can't tell from the quoted thread what metrics are actually being cited and don't have enough interest to dig through the rest of the topic. But a reduction in inflation is probably good where actual deflation would be bad. An economy experiencing deflation is usually in trouble.

+1 If we tick into any deflation, no matter how small, all the OMG RECESSION!!!1!1!!! takes will start right back up again.

[Anonymous]

Inflation is double the manipulated cpi formula. Shadow stats uses the honest formula prior to the late 90s when it was changed. It shows the more accurate inflation and it’s double which everybody is feeling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:.1%

Woohooo

Will this be revised next month to .000000000001% ?

Uh, it means deflation is actually happening. Deride it all you want but that means costs are coming down. You know, the thing everyone is complaining about?

A decrease in the inflation rate does not mean deflation. Prices aren't going down. They are just rising more slowly.

I can't tell from the quoted thread what metrics are actually being cited and don't have enough interest to dig through the rest of the topic. But a reduction in inflation is probably good where actual deflation would be bad. An economy experiencing deflation is usually in trouble.

That’s right, the flip side is that salaries still haven’t caught up with the inflation from the first years of the Biden administration, so lower inflation just means that standards of living aren’t getting worse, not that we’re back to where we started

[Anonymous]

https://www.nytimes.com/2023/12/26/business/economy/christmas-holiday-spending-retail.html?smid=nytcore-ios-share&referringSource=articleShare

[Anonymous]

Anonymous wrote:
https://www.nytimes.com/2023/12/26/business/economy/christmas-holiday-spending-retail.html?smid=nytcore-ios-share&referringSource=articleShare

Wonder how many of those who increased spending are relying on credit cards........

This year, holiday spending from Nov. 1 through Dec. 31 is expected to increase between 3% and 4% over last year to a record total of $957.3 billion to $966.6 billion, according to the National Retail Federation.

Even as credit card debt tops $1 trillion, almost all — or 96% — of shoppers said they expect to overspend this season, a separate TD Bank survey found.

Half of consumers plan to take on more debt to cover those holiday expenses, according to another report by Ally Bank. Only 23% have a plan to pay it off within one to two months.

https://www.cnbc.com/2023/12/19/62percent-of-americans-are-living-paycheck-to-paycheck-as-holidays-approach.html#

[Anonymous]

That is their problem, personal responsibility and all, right?

Are you trying to say it is Biden's fault that people are using credit cards now?

[Anonymous]

Anonymous wrote:

Anonymous wrote:
https://www.nytimes.com/2023/12/26/business/economy/christmas-holiday-spending-retail.html?smid=nytcore-ios-share&referringSource=articleShare

Wonder how many of those who increased spending are relying on credit cards........

This year, holiday spending from Nov. 1 through Dec. 31 is expected to increase between 3% and 4% over last year to a record total of $957.3 billion to $966.6 billion, according to the National Retail Federation.

Even as credit card debt tops $1 trillion, almost all — or 96% — of shoppers said they expect to overspend this season, a separate TD Bank survey found.

Half of consumers plan to take on more debt to cover those holiday expenses, according to another report by Ally Bank. Only 23% have a plan to pay it off within one to two months.

https://www.cnbc.com/2023/12/19/62percent-of-americans-are-living-paycheck-to-paycheck-as-holidays-approach.html#

It doesn’t matter if consumer spending is on credit cards. Increased consumer spending means increased consumer confidence. Sorry this upsets you. I know you are rooting for a recession. So Anti-American but hey, that’s MAGA!

[Anonymous]

Based on the relatively low bankruptcy filings compared to some of what we've seen in recent history, I don't get the sense that credit card use is problematic.

[Anonymous]

Anonymous wrote:Based on the relatively low bankruptcy filings compared to some of wat we've seen in recent history, I don't get the sense that credit card use is problematic.

We're a year or two away from the looming consumer credit default crisis.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Based on the relatively low bankruptcy filings compared to some of wat we've seen in recent history, I don't get the sense that credit card use is problematic.

We're a year or two away from the looming consumer credit default crisis.

Household income has had strong growth lately and personal bankruptcies are very low. There are no issues for consumers to service their debt loads (although Giuliani has lots of issues!). Interest rate cuts, likely, over the next 2 years should further support consumers ability to service debt.

The consumer is strong, there is no pending consumer credit crisis. Commercial real estate on the other hand is a slow moving concern, but lots of variables and time to hopefully resolve.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Based on the relatively low bankruptcy filings compared to some of wat we've seen in recent history, I don't get the sense that credit card use is problematic.

We're a year or two away from the looming consumer credit default crisis.

Just like we were six months away from a recession about a year ago.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Based on the relatively low bankruptcy filings compared to some of wat we've seen in recent history, I don't get the sense that credit card use is problematic.

We're a year or two away from the looming consumer credit default crisis.

If Trump's elected and he predictably runs the economy into the ground again, this is very possible.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Based on the relatively low bankruptcy filings compared to some of wat we've seen in recent history, I don't get the sense that credit card use is problematic.

We're a year or two away from the looming consumer credit default crisis.

Just like we were six months away from a recession about a year ago.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Based on the relatively low bankruptcy filings compared to some of wat we've seen in recent history, I don't get the sense that credit card use is problematic.

We're a year or two away from the looming consumer credit default crisis.

If Trump's elected and he predictably runs the economy into the ground again, this is very possible.

Why do you think we will be forced to shut down again?