Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Last summer a seasoned Bloomberg Finamcial expert, Tom Keene asked if BLS was cooking the data. Now we know

Ah yes, let's look to a Heritage Foundation economist hack that has consistently been wrong about the BLS figures as well as the fact that the revisions are actually suggesting the economy is stronger than initially reported!

Lay people don't care about reports one way or another. THey are more concerned about family members being laid off in hundreds of different sectors across the country; they worry that their children who graduated college in May 2023 are still without jobs; they worry about cost of food to feed their families. No one gives a f about pretty power point presentations when they will go to vote.

I see you missed the jobs report today.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Last summer a seasoned Bloomberg Finamcial expert, Tom Keene asked if BLS was cooking the data. Now we know

Ah yes, let's look to a Heritage Foundation economist hack that has consistently been wrong about the BLS figures as well as the fact that the revisions are actually suggesting the economy is stronger than initially reported!

Lay people don't care about reports one way or another. THey are more concerned about family members being laid off in hundreds of different sectors across the country; they worry that their children who graduated college in May 2023 are still without jobs; they worry about cost of food to feed their families. No one gives a f about pretty power point presentations when they will go to vote.

I see you missed the jobs report today.

[Anonymous]

The meltup continues...

The S&P 500 is within 35 basis points of a 3-year high.

Fewer than 40% of its stocks are above their 10-day avg, fewer than 60% above their 50-day, and fewer than 70% above their 200-day.

Since 1928, that's only happened once before: August 8, 1929.

[Anonymous]

Anonymous wrote:The meltup continues...

The S&P 500 is within 35 basis points of a 3-year high.

Fewer than 40% of its stocks are above their 10-day avg, fewer than 60% above their 50-day, and fewer than 70% above their 200-day.

Since 1928, that's only happened once before: August 8, 1929.

^ So desperate to paint a booming stock market as a bad thing.

[Anonymous]

BREAKING: Total US household debt rises by $212 billion in Q4 2023, to a new record of $17.5 trillion.

Breakdown of the large categories:

1. Mortgage Debt: +$112 billion to $12.25 trillion

2. Auto Loans: +$12 billion to $1.61 trillion

3. Student Loans: +$2 billion to $1.60 trillion

4. Credit Card Debt: +$50 billion to $1.13 trillion

Total household debt in the US is now up ~23% in 3 years and rising rapidly.

We are "fighting" inflation with debt.

How can this end well?

[Anonymous]

[Anonymous]

Anonymous wrote:BREAKING: Total US household debt rises by $212 billion in Q4 2023, to a new record of $17.5 trillion.

Breakdown of the large categories:

1. Mortgage Debt: +$112 billion to $12.25 trillion

2. Auto Loans: +$12 billion to $1.61 trillion

3. Student Loans: +$2 billion to $1.60 trillion

4. Credit Card Debt: +$50 billion to $1.13 trillion

Total household debt in the US is now up ~23% in 3 years and rising rapidly.

We are "fighting" inflation with debt.

How can this end well?

What happened to "personal responsibility" and "pulling up by their own bootstraps?"

[Anonymous]

S&P breaks 5000 barrier today. What a disaster.

[Anonymous]

Anonymous wrote:S&P breaks 5000 barrier today. What a disaster.

More good news.

[Anonymous]

pretty much doubled from the lows in the Trump years.

[Anonymous]

Anonymous wrote:

Many Trump supporters are these exact people. That’s why their b!txhing and moaning. Poor people don’t buy 70k trucks and 140k boats.

[Anonymous]

Don’t believe the hype. These numbers were goosed by BLS.

Few outlets bothered parsing the actual data, or those pesky adjustments. Wall Steet tried. A note from Wells Fargo economists wrote about the report: “Seasonal adjustment factors appear to have flattered the headline as smaller-than-usual post-holiday layoffs bolstered the payrolls numbers.” In their typically thoughtful and cautious manner, economists at ISI wrote: “most other labor market indicators are not currently validating the extreme strength in January payrolls…”

[Anonymous]

Anonymous wrote:Don’t believe the hype. These numbers were goosed by BLS.

Few outlets bothered parsing the actual data, or those pesky adjustments. Wall Steet tried. A note from Wells Fargo economists wrote about the report: “Seasonal adjustment factors appear to have flattered the headline as smaller-than-usual post-holiday layoffs bolstered the payrolls numbers.” In their typically thoughtful and cautious manner, economists at ISI wrote: “most other labor market indicators are not currently validating the extreme strength in January payrolls…”

You’ve been saying that for about four years.

[Anonymous]

Latest List of Layoffs Over Last 3 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. Duolingo: 10% of workforce
9. Washington Post: 10% of workforce
10. Snapchat: 10% of workforce
11. eBay: 9% of workforce
12. PayPal: 9% of workforce
13. Business Insider: 8% of workforce
14. Charles Schwab: 6% of workforce
15. Macy's: 4% of workforce
16. Blackrock: 3% of workforce
17. Citigroup: 20,000 employees
18. UPS: 12,000 employees
19. Cisco: "Thousands" of employees
20. Deutsche Bank: 3,500 employees
21. Pixar: 1,300 employees
22. Salesforce: 700 employees
23. American Airlines: 650 employees

We have now seen over 100,000 layoffs announced in 2024.

January 2024 saw a total of 82,000 layoffs, the second worst January since 2009.

Is the labor market finally starting to soften?

[Anonymous]

Anonymous wrote:
Based on the original nonmanipulated cpi formula before 2000 inflation has been averaging 10 percent per year since Biden took over. The stock market has no return adjusted for actual real world inflation which totally makes sense.

Companies are laying off and using shrinkflation to keep profits up with inflation.