Biden’s economy

[Anonymous]

Coming into this week, there was a worry that job gains were narrowing to less cyclical sectors like government and health care. Sometimes, that portends weakness in the private sector. The January numbers should leave those worries behind for now as business services, retail and manufacturing all posted solid gains.

Change in jobs in January 2024, by sector
+112,000 jobs Education and health
+74,000 Business services
+45,200 Retail
+36,000 Government
+23,000 Manufacturing
+11,000 Leisure and hospitality
+11,000 Construction

[Anonymous]

Anonymous wrote:

Anonymous wrote:January jobs report: US economy adds 353,000 jobs, blowing past Wall Street expectations

+1

I don’t know why Republicans think Biden will be easy to beat.

The Republican Party does have the whole of the media on their side and that’s something for which we cannot overstate the benefits. They still talk about Trump’s “alleged” rape when one of them was proven in a court of law, same as his attempt to overthrow the government. When the media machine hides someone’s flaws and crimes but picks apart the other candidate, it’s not a remotely fair fight. I bet you they’re still going to act like the economy is in the toilet, too.

Listen I wish we could do more to address wealth inequality but as long as we’re saddled with the GOP, that’s a no go.

[Anonymous]

Meanwhile in realville

[Anonymous]

Anonymous wrote:Meanwhile in realville

Yes, CRE is going to getting because it's an asset class that is highly sensitive to interest rates and the new realities of work from home. CRE investors bought into Tier 1 cities and properties at 3% cap rates and are now finding out that doesn't work when interest rates are 5%. What does this mean? Well, a bunch of commercial properties get restructured with debt becoming equity on a massively written down value. Sucks to be them.Real estate is a byproduct of the real economy (you know, products and services and all that).

[Anonymous]

Anonymous wrote:January jobs report: US economy adds 353,000 jobs, blowing past Wall Street expectations

Almost double what was forecasted.

[Anonymous]

Anonymous wrote:

Anonymous wrote:January jobs report: US economy adds 353,000 jobs, blowing past Wall Street expectations

+1

I don’t know why Republicans think Biden will be easy to beat.

They only listen to their own deafening echo chamber. But they have the bad actors on their side, so that’s a big advantage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Meanwhile in realville

Yes, CRE is going to getting because it's an asset class that is highly sensitive to interest rates and the new realities of work from home. CRE investors bought into Tier 1 cities and properties at 3% cap rates and are now finding out that doesn't work when interest rates are 5%. What does this mean? Well, a bunch of commercial properties get restructured with debt becoming equity on a massively written down value. Sucks to be them.Real estate is a byproduct of the real economy (you know, products and services and all that).

Horse buggies went out of business once automobiles became available to the masses. And so on……..

[Anonymous]

Anonymous wrote:

Anonymous wrote:Meanwhile in realville

Yes, CRE is going to getting because it's an asset class that is highly sensitive to interest rates and the new realities of work from home. CRE investors bought into Tier 1 cities and properties at 3% cap rates and are now finding out that doesn't work when interest rates are 5%. What does this mean? Well, a bunch of commercial properties get restructured with debt becoming equity on a massively written down value. Sucks to be them.Real estate is a byproduct of the real economy (you know, products and services and all that).

The irony about a 50% correction means your 401k, pension fund and bank account will pay the price. Will you blame this on Trump as well im 2025/26?

[Anonymous]

Bummer for Trump and Rs

The recession they tried to promote to show Biden's "failures" didn't appear.

[Anonymous]

Thanks 46?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Meanwhile in realville

Yes, CRE is going to getting because it's an asset class that is highly sensitive to interest rates and the new realities of work from home. CRE investors bought into Tier 1 cities and properties at 3% cap rates and are now finding out that doesn't work when interest rates are 5%. What does this mean? Well, a bunch of commercial properties get restructured with debt becoming equity on a massively written down value. Sucks to be them.Real estate is a byproduct of the real economy (you know, products and services and all that).

The irony about a 50% correction means your 401k, pension fund and bank account will pay the price. Will you blame this on Trump as well im 2025/26?

A 50% correction? You mean something that has happened only four times since 1871? https://tradethatswing.com/a-history-of-stock-market-percentage-declines-15-to-50-in-charts/

And conflating the problems with commercial real estate and the real economy is not particularly useful. Barry Sternlicht is just talking his book because his firm and their investments are royally screwed by higher interest rates. Funny that. You raise interest rates to normal levels and all kinds of stupid investments and asset classes get exposed. It's happened to money losing VC investments (e.g., WeWork, Uber, etc). It's happened to tech companies that splurged during the pandemic. It's happened to zombie businesses that were able to delay the inevitable by consistently extending cheap debt. It's happened to NFTs (hahahaha), crypto, and pokemon cards. It's now happening to CRE because because they believed valuing trophy properties at 33x their NOI and issuing debt at 80% off that appraisal was a good idea (Narrator: It wasn't.).

[Anonymous]

Anonymous wrote:A Fox anchor, Larry Kudlow, just said on Fox, “I was wrong about the slowdown and the recession. Everyone was wrong.” This is the truth. There is no recession. There is no slowdown. Our economy is strong & booming because of President Biden. Period. Be loud & proud.

Republicans heads are exploding tonight I hope they rot.

Not a shock that so many people think we’re in a recession anyway.

[Anonymous]

[Anonymous]

Anonymous wrote:

I would posit that the strength of the US economy is BECAUSE of the measures taken when Biden came into office.

Other countries had the same COVID inflation spikes and downturns, but the US rebound has been the strongest because the Dems passed thos bills the right has been complaining about.

Now, we have Trump acknowledging the strength of the economy because...wait for it, the market is pricing his return to office.

LOL.

Trump is going to let Republicans in on the secret that the economy is good.

[Anonymous]

Ah Trump appointees, famous for helping Democrats