it's the economy

[Nanker]

21 minutes ago, Nouseforaname said:

 

He will definitely not reappoint him if he has the opportunity. 

[Nouseforaname]

22 minutes ago, Nanker said:

He will definitely not reappoint him if he has the opportunity. 

He may have been late to raise rates but has been right to wait until the data supports lowering them. 

Very difficult job with how the market is always trying to front run your decisions.

[Nanker]

52 minutes ago, Nouseforaname said:

He may have been late to raise rates but has been right to wait until the data supports lowering them. 

Very difficult job with how the market is always trying to front run your decisions.

The economic problem that we have is the incredible amount of Federal spending. That’s what drove inflation to rates we haven’t seen in decades. 
 

Rates can come back down, but frivolous, irresponsible spending has to come way down first. 

[Nouseforaname]

5 minutes ago, Nanker said:

The economic problem that we have is the incredible amount of Federal spending. That’s what drove inflation to rates we haven’t seen in decades. 
 

Rates can come back down, but frivolous, irresponsible spending has to come way down first. 

And that has nothing to do with the fed.  Powell has spoken about reigning in government spending more than once.

[Ann]

Transportation equipment was the big reason


 

US durable goods new orders print for preliminary June data was a disaster - plunging 6.6% MoM

 

</snip>

 

The Commerce Department said durable goods orders plunged by 6.6 percent in June after inching up 0.1 percent in May. Economists had expected durable goods orders to rise by 0.3 percent.

 

</snip>

[Ann]

 

[Nouseforaname]

3 hours ago, Ann said:

 

https://www.heritage.org/debt/commentary/american-taxpayers-are-now-slaves-interest-payments

 

Interest on the federal debt is now so immense that it’s consuming 40% of all personal income taxes. The largest source of revenue for the federal government is increasingly being devoted to just servicing the debt, not even paying it down. 
 

How accurate is his statement and how much of it has to do with interest rates having skyrocketed over the last two years ?
 

[Ann]

1 hour ago, Nouseforaname said:

https://www.heritage.org/debt/commentary/american-taxpayers-are-now-slaves-interest-payments

 

Interest on the federal debt is now so immense that it’s consuming 40% of all personal income taxes. The largest source of revenue for the federal government is increasingly being devoted to just servicing the debt, not even paying it down. 
 

How accurate is his statement and how much of it has to do with interest rates having skyrocketed over the last two years ?
 

No idea. The article you linked to was a year old. I would not be surprised if both figures are accurate and it has gone up that much in a short time. 
 

[Ann]

A California Millionaire is a person that owns a home in California.

 

The number of US cities where first-time homebuyers are faced with at least a $1 million price tag on the average entry-level home has nearly tripled in the past five years, according to new research.

 

A Thursday report from Zillow indicates that a typical starter home is now worth $1 million or more in 237 cities, up from 84 cities in 2019, underscoring America’s ongoing home affordability crisis.

 

“Affordability has been strained across the board,” Orphe Divounguy, a senior economist at Zillow, said. “We see the largest number of million-dollar starter homes in expensive coastal markets. We see them in markets with very low homeownership rates and we see them in markets with more building regulations.”

 

Zillow defines a “starter home” as being among those in the lowest third of home values in a given region. California, New York and New Jersey contain the highest number of cities with entry-level homes that carry an average million-dollar price tag, but half of all US states have at least one such city, the report said.

</snip>




</snip>
 

There are some promising signs that the housing market may be turning a corner, though. According to a recent report from the National Association of Realtors, home inventory is starting to pile up, meaning that buyers may soon have more negotiating room. There were 1.32 million active listings in the US in June, a 23.4% jump compared to last year.

 

“We’re seeing a slow shift from a seller’s market to a buyer’s market,” said National Association of Realtors chief economist Lawrence Yun in a statement.

 

[Deranged Rhino]

[Ann]

 

[Crap Throwing Clavin]

46 minutes ago, Ann said:

 

 

Gentle reminder to federal government: these aren't student loans.  No one's paying this off for you.

[RochesterRob]

57 minutes ago, Ann said:

 

  I don't think that anybody in DC is seriously worried about this as they will kick the can down the road via printing money to throw at the debt.  At the same time the notion of working hard to have more than the other guy is dying at an accelerating rate.  Envy politics dictates that no one person shall have more than the other and the same shall not have less.  The guy who can barely sweep the floors at Walmart will have the same 175,000 dollar EV SUV as the local superintendent of schools.  Good thing AI is here to take up the slack as incentive to produce is fading.

[Ann]

And people will vote for Kamala to keep this up. 
 

This is before it gets revised down "unexpectedly" in a month:


Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

 

</snip>

 

* Nonfarm payrolls grew by just 114,000 in July, below the downwardly revised 179,000 in June and the Dow Jones estimate for 185,000.
* The unemployment rate edged higher to 4.3%, its highest since October 2021, triggering an economic rule on recessions.
* Health care again led, adding 55,000 to payrolls. Other notable gainers included construction (25,000), government (17,000), and transportation and warehousing (14,000).
* Average hourly earnings increased 0.2% for the month and 3.6% from a year ago. Both figures were below respective forecasts for 0.3% and 3.7%.

 

</snip>

 

[Crap Throwing Clavin]

1 minute ago, Ann said:

And people will vote for Kamala to keep this up. 
 

This is before it gets revised down "unexpectedly" in a month:


Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

 

</snip>

 

* Nonfarm payrolls grew by just 114,000 in July, below the downwardly revised 179,000 in June and the Dow Jones estimate for 185,000.
* The unemployment rate edged higher to 4.3%, its highest since October 2021, triggering an economic rule on recessions.
* Health care again led, adding 55,000 to payrolls. Other notable gainers included construction (25,000), government (17,000), and transportation and warehousing (14,000).
* Average hourly earnings increased 0.2% for the month and 3.6% from a year ago. Both figures were below respective forecasts for 0.3% and 3.7%.

 

</snip>

 

 

Important to keep in mind, too, that employment numbers don't include slaves, because illegal immigrants are undocumented, hence untracked.

[Nouseforaname]

44 minutes ago, Crap Throwing Clavin said:

 

Important to keep in mind, too, that employment numbers don't include slaves, because illegal immigrants are undocumented, hence untracked.

We’re in correction territory. 

[Nouseforaname]

 

[Crap Throwing Clavin]

8 minutes ago, Nouseforaname said:

We’re in correction territory. 

 

Yeah.  So?

[Nouseforaname]

1 minute ago, Crap Throwing Clavin said:

 

Yeah.  So?

Just felt like saying it.

[devnull]

11 minutes ago, Nouseforaname said:

We’re in correction territory. 

 

Over the last few weeks, I've lost an Arm and a leg...