Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:The US Economy Now Has:

1. 63 banks on the brink of default according to the FDIC

2. Over $500 BILLION of paper losses held by banks

3. Declining GDP growth with rising inflation

4. Over 50% of Americans believe we are in a recession

5. Lowest mortgage demand in over 30 years

6. A record $17.7 trillion in total household debt

Let's ignore and re-elect 46!

If Banks make poor decisions, that is on the bank leadership. Capitalism. Even $500 billion in loses. Maybe they should not have put all their eggs in a commercial real estate basket. Anyone will tell you to have a diversified portfolio.

The Declining GDP growth is desired by the Fed before they will lower interest rates. Even with the declining growth, the GDP quarter to quarter, has been better under Biden than Trump.

RE Americans believing we are in a recession. We aren't Amercians getting bad information and keeping them poorly informed and poorly educated is a feature, not a bug of the GOP, the owners of social media platforms and media outlets that have been bought and closed by hedge funds owned by right leaning individuals.

Lowest mortgage demand is a function of the Fed and interest rates, by design to help cool the housing markets.

Household debt - people are spending on travel, streaming media, gaming, sports and entertainment tickets etc. The economy is generally very strong. Maybe at the individual level, people should tighten up a bit, but that isn't something the president can mandate, right?

I think the $500 billion in paper losses referred to here has nothing to do with commercial real estate, in which a few banks are concentrated. It is about banks' portfolio of safe assets, U.S. Treasuries, for which the market value is far below the face value. This is a pretty widespread problem at smaller banks.

[Anonymous]

Anonymous wrote:Nevermind this story, Bidenomics is working!

Somehow, other restaurants are thriving. Maybe it was just a crappy, mismanaged chain.

[Anonymous]

Another day, another bad report...

Extending the recent trend of unexpectedly weak labor market indicators, moments ago ADP reported that in May, the US added just 152K Private Payrolls, a 36K drop from the March (downward revised) number of 188K (originally 192K) to the lowest number since the 111K reported

[Anonymous]

Anonymous wrote:Another day, another bad report...

Extending the recent trend of unexpectedly weak labor market indicators, moments ago ADP reported that in May, the US added just 152K Private Payrolls, a 36K drop from the March (downward revised) number of 188K (originally 192K) to the lowest number since the 111K reported

THIS IS GOOD NEWS!

Literally celebrated at this and the jobs report yesterday

WOOT!

The on fire economy MUST SOFTEN if rates are to come down. Bad reports are GOOD NEWS for us getting back to normal.

[Anonymous]

Stop and Shop closing 400 stores
https://www.the-sun.com/money/11518297/supermarket-chain-closures-ceo-not-where-want/

Hiring has slowed down
https://www.bloomberg.com/news/articles/2024-06-05/us-companies-add-fewer-jobs-than-forecast-adp-data-show

Full time jobs have been declining, more americans working two or more jobs to deal with Bidenomics

The Bidenflation hits poor americans the hardest
https://www.nytimes.com/2024/05/14/business/economy/interest-rates-inequality.html

Looks like Bidenomics is a top down misery dispenser. The top richest are ok, but as you move down the high taxes, high inflation and policies of Bidenomics affects you more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When I graduarted high school McDonald's was only $2.99 for COMBO MEAL. I would never forget this. Now its $10.55. Ever time I buy one I remind the lady or the guy at the drive though how much I paid back in the 1990s. Most of them don't care but some do.

https://apnews.com/article/mcdonalds-inflation-prices-big-mac-c9c4abef25369f6b87b2781f5658bc0e

So McDonalds says its 100% increase in prices is inaccurate. Remind me… did inflation rise 100%? Anyway…
Who’s to say really? And if people are paying it, I guess it’s priced correctly.

What else will I need? When I am hungry?

[Anonymous]

Anonymous wrote:Another day, another bad report...

Extending the recent trend of unexpectedly weak labor market indicators, moments ago ADP reported that in May, the US added just 152K Private Payrolls, a 36K drop from the March (downward revised) number of 188K (originally 192K) to the lowest number since the 111K reported

This is good news for the Fed to bring interest rates down. This is the "soft landing" that everyone was hoping for.

The fact that we are still having job growth and GDP growth in light of the broader economy is really amazing.

[Anonymous]

Anonymous wrote:Stop and Shop closing 400 stores
https://www.the-sun.com/money/11518297/supermarket-chain-closures-ceo-not-where-want/

Hiring has slowed down
https://www.bloomberg.com/news/articles/2024-06-05/us-companies-add-fewer-jobs-than-forecast-adp-data-show

Full time jobs have been declining, more americans working two or more jobs to deal with Bidenomics

The Bidenflation hits poor americans the hardest
https://www.nytimes.com/2024/05/14/business/economy/interest-rates-inequality.html

Looks like Bidenomics is a top down misery dispenser. The top richest are ok, but as you move down the high taxes, high inflation and policies of Bidenomics affects you more.

This is a decades long trend that certainly didn't start with Biden.

The fact is, our economy is changing - AI, the internet, manufacturing etc and COVID are shifting how employers are operating and how employees respond. It will take time to adjust, but the 5 day, 9-5 work week is basically over.

[Anonymous]

Certain;y the GOP won't end these tax cuts, so they basically favor the upward pressure on the national debt.

Cutting the government budget around the edges without significant changes to social security and the defense budget are performative.

[Anonymous]

Anonymous wrote:

Certain;y the GOP won't end these tax cuts, so they basically favor the upward pressure on the national debt.

Cutting the government budget around the edges without significant changes to social security and the defense budget are performative.

[Anonymous]

U.S. Banks’ Exposure to Risk from Commercial Real Estate Screener

Many financial experts in the banking industry have warned about future losses on commercial real estate (CRE) mortgages as hundreds of billions of dollars in loans reprice in a high-rate environment over the coming year.

As most CRE mortgages are five-year balloon mortgages, many of these loans that originated in a lower rate environment in 2019 are currently rolling over and need refinancing this year when rates are well above 7%. The same concern carries over in 2025 for CRE loans originated in 2020, as well as 2026 for CRE loans originated in 2021.

The imminent refinancing of loans, combined with more commercial properties selling at a discount relative to pre-pandemic values, has exposed vulnerabilities in the banking system not only to commercial real estate mortgages, but also to commercial real estate construction loans and unused commitments to fund commercial real estate mortgages and loans.

The U.S. Banks’ Exposure to Risk from Commercial Real Estate screener evaluates 157 of the largest banks in America out of over 4,000 existing banks to track their exposure to commercial real estate. Using publicly available quarterly data from the Federal Financial Institutions Examination Council Central Data Repository, we calculate each bank’s total CRE exposure (the sum of CRE nonfarm-nonresidential mortgages, multifamily mortgages, CRE construction loans and unused CRE commitments) as a percentage of the bank’s total equity.

We use this ratio as a broad measure of bank exposure to commercial real estate. A variation of this ratio is often used by banking regulators to assess CRE exposures. Any ratio over 300% is viewed as excessive exposure to CRE, which puts the bank at greater risk of failure.

This ongoing, quarterly project is produced by The Banking Initiative at Florida Atlantic University sponsored by Executive Education.

- - -

High numbers in CRE Total to Equity column are worrisome:

https://business.fau.edu/executive-education/bank-exposures-commercial-real-estate/

[Anonymous]

Anonymous wrote:Stop and Shop closing 400 stores
https://www.the-sun.com/money/11518297/supermarket-chain-closures-ceo-not-where-want/

Stop & Shop only HAS 400 stores. They are not closing all of them, just a few that are underperforming. Like every retail chain does periodically in every economy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Stop and Shop closing 400 stores
https://www.the-sun.com/money/11518297/supermarket-chain-closures-ceo-not-where-want/

Stop & Shop only HAS 400 stores. They are not closing all of them, just a few that are underperforming. Like every retail chain does periodically in every economy.

Jeez. I used to work for Stop and Shop in Fall River, MA.

[Anonymous]

[Anonymous]

Anonymous wrote:

Did you complain about the 25% increase in debt under the Trump administration? What did the US get for that bump? Because we can at least justify the Biden increase in the jobs created under the IRA and CHIPs Acts.