Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

Maybe you missed the news about all the companies starting to lay people off.

Unemployment also lags. First consumer sentiment and spending tank. Then companies start losing money or have their margins hit. Then layoffs come.

We are in the first part of that chain reaction.

+1. When trouble brews, first companies stop hiring. Plenty of that going on right now. As things progress, they will cut hours. Only when things continue to decline is when they do layoffs.

You guys keep praying for a recession but job growth continues. Consumers are spending. Anecdotes about layoffs at a few companies are insignificant. There is always a lot of churn in the labor market. Even when the economy is in full growth, when we “add” 1 million jobs it is the net of about 7 million new jobs at employers that are hiring offsetting 6 million jobs lost at employers that are contracting or closing.

So this is the new democrat platform - 8+% inflation is 'good' because it means people are spending and the economy is strong. Meanwhile, everyone's entire life savings are being destroyed. Good luck trying to run on a platform that $5 gas and grocery bills skyrocketing out of control means 'the economy is good'. Please don't act surprised in Nov. when it is a bloodbath for the Dems.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

Maybe you missed the news about all the companies starting to lay people off.

Unemployment also lags. First consumer sentiment and spending tank. Then companies start losing money or have their margins hit. Then layoffs come.

We are in the first part of that chain reaction.

+1. When trouble brews, first companies stop hiring. Plenty of that going on right now. As things progress, they will cut hours. Only when things continue to decline is when they do layoffs.

You guys keep praying for a recession but job growth continues. Consumers are spending. Anecdotes about layoffs at a few companies are insignificant. There is always a lot of churn in the labor market. Even when the economy is in full growth, when we “add” 1 million jobs it is the net of about 7 million new jobs at employers that are hiring offsetting 6 million jobs lost at employers that are contracting or closing.

We don't want a recession. We just want Biden to do something about inflation before it hits 10%. Jesus christ.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

Maybe you missed the news about all the companies starting to lay people off.

Unemployment also lags. First consumer sentiment and spending tank. Then companies start losing money or have their margins hit. Then layoffs come.

We are in the first part of that chain reaction.

+1. When trouble brews, first companies stop hiring. Plenty of that going on right now. As things progress, they will cut hours. Only when things continue to decline is when they do layoffs.

You guys keep praying for a recession but job growth continues. Consumers are spending. Anecdotes about layoffs at a few companies are insignificant. There is always a lot of churn in the labor market. Even when the economy is in full growth, when we “add” 1 million jobs it is the net of about 7 million new jobs at employers that are hiring offsetting 6 million jobs lost at employers that are contracting or closing.

Target revised their 2022 forecast down twice during the past three months. Why? Sales are down and inventory higher than anticipated....

No one wants to oversee a recession under their watch.

We will find out shortly what people will sacrifice in order to get cheap gasoline. although the thing is, in 1980, the conservatives had clean hands and hadn't really had a chance to try out their stuff. Today, the conservatives have 1/6 hanging around their necks like an albatross - and while committed conservatives can hand-wave it away, there remains a core of persuadable (to them) moderates that can't. That will limit their potential gains. (Or, how much would it be no big deal if say 3,000 BLM protesters were storming the Capital gates?)

We hadn't learned yet how to take obstructionism to a new level and the filibuster was nowhere near as weaponized as it is today. And, the only thing people like less than an expansion of the welfare state is a rollback of the welfare state (2018 was a reaction to Obamacare possibly going away, much as 2010 was a reaction to Obamacare being there.)

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

Maybe you missed the news about all the companies starting to lay people off.

Unemployment also lags. First consumer sentiment and spending tank. Then companies start losing money or have their margins hit. Then layoffs come.

We are in the first part of that chain reaction.

+1. When trouble brews, first companies stop hiring. Plenty of that going on right now. As things progress, they will cut hours. Only when things continue to decline is when they do layoffs.

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

It's already falling off a cliff. Just look at the Atlanta Fed's GDPNow Data revising GDP down over 1% in just the past couple of weeks... combine with Target coming out twice in that same period to revise their outlook further down. To me, that means the cliff is happening as we speak. We're already in recession.

Microsoft also revised their earnings down too.

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

Maybe you missed the news about all the companies starting to lay people off.

Unemployment also lags. First consumer sentiment and spending tank. Then companies start losing money or have their margins hit. Then layoffs come.

We are in the first part of that chain reaction.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Classic Stagflation is in place yet many on this board ignored and chastised anyone who brought this up last fall. This is worse than 1979 and I anticipate double digit numbers by the end of the summer.

It’s not stagflation. You don’t know what stagflation is.

My Masters in Economics from Stanford says otherwise.

You wasted your money and their time.

Masters [sic] poster needs to read the news:

https://www.bloomberg.com/news/articles/2022-06-09/us-jobless-claims-rose-last-week-by-most-since-july-2021

One component of stagflation is widespread unemployment

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

It's already falling off a cliff. Just look at the Atlanta Fed's GDPNow Data revising GDP down over 1% in just the past couple of weeks... combine with Target coming out twice in that same period to revise their outlook further down. To me, that means the cliff is happening as we speak. We're already in recession.

Anonymous wrote:

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

Then why are you all begging for child tax credits like bums?

Anonymous wrote:U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

And yet, unemployment is at historic lows, people have to much money to spend, and employees are demanding higher wages. But yes, the economy is about to fall off a cliff.

U Mich consumer confidence survey came out - lowest numbers in the history of the entire survey. Consumers are hanging on by a thread.

This economy is about to fall off a cliff.

The Fed is a good 6-9 months behind on this. My non-economist mother and myself were discussing many months ago that Fed needed to raise rates. All those idiots should be fired immediately and made to stand in the bread lines their incompetence created.

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’d call this the best indicator yet of a surging economy. People have way more money, they’re spending like crazy, and goods can’t be kept in stock.

These are very good times.

That's exactly why there's inflation clown..too .much money in the system causing inflation.

Maybe you missed the news, but real earnings for workers are now negative and are going down because of inflation. This is terrible.

DP

That’s why we need a livable minimum wage or a UBI. It would keep those people in a comfort zone where inflation is less of a factor. Think about it - what if everyone could be guaranteed a minimum income of $80k or so? That would totally eliminate all poverty overnight. There’s plenty of money out there - it’s just that too few people have too much of it. Spread it around, I say.

Someone has never taken basic economics 101. All UBI would do at this point is worsen inflation. It makes savings worthless and will ruin everyone's entire life's savings. It will obliterate people on fixed incomes. When inflation becomes out of control, lenders will also stop lending money because no one will lend money for losses in real terms. The entire economy gets sent back to the stone age.

So democrats' solution to combat inflation is to give people MORE money? Absolute Insanity.

Blah blah blah blah… racist boomer talking-points.

Go away, oldster.

We’d like to go away. But you can’t afford our nursing homes anymore!