Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[Big Blitz]

Home Prices May Not Just Go Down, But Could Fall Sharply Amid Housing Correction (this means crash)

 

Speaking to a group at the University of Kentucky, Fed Governor Christopher Waller stated that while the Federal Reserve still sees the increase in rates making the correction mild, the possibility that a larger drop will occur is still very much in the picture.

 

"While this [housing] market correction could be fairly mild, I cannot dismiss the possibility of a much larger drop in demand and house prices before the market normalizes," he said.

 

This marks the first time anyone from the Fed has acknowledged that prices could fall more substantially, as several markets have already seen their home values start to fall from their 2022 peaks.

 

https://www.ibtimes.com/home-prices-may-not-just-go-down-could-fall-sharply-amid-housing-correction-3621904

 

Edited October 8, 2022 by Big Blitz

[BillStime]

2 minutes ago, Big Blitz said:

Home Prices May Not Just Go Down, But Could Fall Sharply Amid Housing Correction (this means crash)

 

Speaking to a group at the University of Kentucky, Fed Governor Christopher Waller stated that while the Federal Reserve still sees the increase in rates making the correction mild, the possibility that a larger drop will occur is still very much in the picture.

 

"While this [housing] market correction could be fairly mild, I cannot dismiss the possibility of a much larger drop in demand and house prices before the market normalizes," he said.

 

This marks the first time anyone from the Fed has acknowledged that prices could fall more substantially, as several markets have already seen their home values start to fall from their 2022 peaks.

 

https://www.ibtimes.com/home-prices-may-not-just-go-down-could-fall-sharply-amid-housing-correction-3621904

 

Good - real estate is out of control here in New England. 

[Over 29 years of fanhood]

2 hours ago, Big Blitz said:

Home Prices May Not Just Go Down, But Could Fall Sharply Amid Housing Correction (this means crash)

 

Speaking to a group at the University of Kentucky, Fed Governor Christopher Waller stated that while the Federal Reserve still sees the increase in rates making the correction mild, the possibility that a larger drop will occur is still very much in the picture.

 

"While this [housing] market correction could be fairly mild, I cannot dismiss the possibility of a much larger drop in demand and house prices before the market normalizes," he said.

 

This marks the first time anyone from the Fed has acknowledged that prices could fall more substantially, as several markets have already seen their home values start to fall from their 2022 peaks.

 

https://www.ibtimes.com/home-prices-may-not-just-go-down-could-fall-sharply-amid-housing-correction-3621904

 

it’s incredible what an economic mess we are in now, inverted yield curve, consecutive quarters of contraction, double digit inflation, energy dependence…. 
 

this administration saw every policy problem from the last one and has doubled  down making it worse. 
 

Who can name one thing that is better today than at this point in the last administration ?

 

the wealthy elites have their hands on all the levers and have messed up everything 

[Big Blitz]

Chief economist says US headed to recession that was ‘totally avoidable’  - but you're scared of the flu, mean tweets, and China - no wait it's the FEDs fault

 

 

Mohamed El-Erian, Allianz’s chief economic adviser, said on Sunday that the U.S. is heading toward a recession that was “totally avoidable” amid ongoing concerns about inflation and economic stability.

 

“I fear that we risk a very high probability of a damaging recession that was totally avoidable,” El-Erian told CBS’ “Face the Nation,” arguing that the Federal Reserve has made mistakes that will “go down in the history books.”

 

“One is mischaracterizing inflation as transitory. By that, they meant it is temporary, it’s reversible, don’t worry about it. That was mistake number one. And then mistake number two, when they finally recognized that inflation was persistent and high. They didn’t act. They didn’t act in a meaningful way,” El-Erian said.

 

https://thehill.com/homenews/sunday-talk-shows/3680249-chief-economist-says-us-headed-to-recession-that-was-totally-avoidable/

Edited October 10, 2022 by Big Blitz

[Doc]

8 minutes ago, Big Blitz said:

Chief economist says US headed to recession that was ‘totally avoidable’  - but you're scared of the flu, mean tweets, and China - no wait it's the FEDs fault

 

 

Mohamed El-Erian, Allianz’s chief economic adviser, said on Sunday that the U.S. is heading toward a recession that was “totally avoidable” amid ongoing concerns about inflation and economic stability.

 

“I fear that we risk a very high probability of a damaging recession that was totally avoidable,” El-Erian told CBS’ “Face the Nation,” arguing that the Federal Reserve has made mistakes that will “go down in the history books.”

 

“One is mischaracterizing inflation as transitory. By that, they meant it is temporary, it’s reversible, don’t worry about it. That was mistake number one. And then mistake number two, when they finally recognized that inflation was persistent and high. They didn’t act. They didn’t act in a meaningful way,” El-Erian said.

 

https://thehill.com/homenews/sunday-talk-shows/3680249-chief-economist-says-us-headed-to-recession-that-was-totally-avoidable/

 

Did the Fed miscalculate or where they given orders?

[Big Blitz]

It's Russias fault!

 

 

US is headed for a recession, says head of JP Morgan Chase bank: ‘This is serious’

 

 

The US and global economy is facing a “very, very serious” mix of headwinds that is likely to cause a recession by the middle of next year, warned Jamie Dimon, chief executive of JP Morgan Chase, the largest US investment bank, on Monday.

 

Dimon pointed to the effects of runaway inflation, sharp interest rate rises and Russia’s war in Ukraine, as factors that informed his thinking. But he added that the US is “actually still doing well” and consumers were likely to be in better shape compared with the global financial crisis in 2008.

 

“You can’t talk about the economy without talking about stuff in the future – and this is serious stuff,” Dimon told CNBC at a conference in London.

 

https://www.theguardian.com/business/2022/oct/10/us-economy-recession-jamie-dimon

 

[B-Man]

On 9/15/2022 at 10:46 AM, B-Man said:

Finally, some good news.

 

It was all theater to drive up the payoff anyway.

 

Biden announces tentative labor agreement to avert national rail strike

The tentative agreement averts a national rail strike that would have shut down a key part of the U.S. transportation network.

 

The new contracts provide 24% pay increases over 5 years from 2020 through 2024 and include immediate payouts averaging $11,000 upon ratification, according to the Association of American Railroads.

 

(Excerpt) Read more at cnbc.com ...

https://www.cnbc.com/2022/09/15/president-joe-biden-says-tentative-railway-labor-agreement-reached.html

 

 

 

 

 

Sure.

 

Are we headed for a rail strike after all?

 

 

A month ago it seemed we were headed for a major rail strike as unions were holding out against a labor contract that included a 24% raise. Amtrak even started canceling trains in expectation of the strike but then, at the last moment, unions accepted a deal.

 

But today it looks like that agreement might be falling apart. One of the unions has rejected the deal. 

https://www.cnn.com/2022/10/10/business/railroad-union-vote-strike-threat/index.html

 

 

A strike would be a potential disaster for the economy and a political disaster for the Biden administration which was involved in the deal reached last month. Luckily for the White House, whatever happens won’t happen until after the election. Part of me wonders if this wasn’t the deal all along, i.e. you can still vote to reject this but do hold out so whatever happens will happen after the election when it won’t be another millstone around the necks of pro-union Democrats.

 

https://hotair.com/john-s-2/2022/10/10/are-we-headed-for-a-rail-strike-after-all-n502343

 

 

 

 

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[Big Blitz]

Well well well......guess who's from Scranton and probably a Phillies fan...

 

 

 

[B-Man]

 

 

Biden Deal to Avert Rail Strike Fails, With Yet More 'Election Deception'

By Nick Arama

 

 

The Biden team seems to be doing all it can to prevent crises from blowing up — not by resolving the problems, but by putting off the explosions until after the election.

 

As I wrote on Tuesday, there was a report that when the Biden team got the news that OPEC+ might be considering a production cut, they pressured Saudi Arabia to ask OPEC+ to put it off for a month. That way, it wouldn’t go into effect until right before the election and the effect wouldn’t be felt by American voters until after the election. They even threatened the Saudis that our relationship with them would be harmed if the Saudis didn’t do what they said.

 

{snip}

 

The Biden team touted that they worked out a deal averting a rail strike as a “victory.”

 

But what they did get the unions to agree to involve the “election deception” of which I speak. They worked out a required “cooling off period” so even though one rejected the deal, the strike wouldn’t happen right away. Guess how long that “cooling-off period” is?

 

No strike will happen before the end of the so-called cooling-off period in late November — after the midterm elections — and negotiations are continuing between the freight railroad industry and a dozen unions. But one labor organization’s vote this week to reject a White House-brokered compromise is fostering new dangers of a work stoppage that would halt 40 percent of the nation’s freight traffic — imperiling Americans’ food, drinking water and electricity supplies as well as the holiday shopping season.

 

So they traded a strike that could hit now before the election that would hurt their chances for a possible strike hit after the election, right in the middle of the holiday season so it would hurt even more Americans

 

https://redstate.com/nick-arama/2022/10/12/biden-deal-to-avert-rail-strike-fails-with-yet-more-election-deception-n641950

 

 

 

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[B-Man]

 

 

 

[Big Blitz]

3 hours ago, B-Man said:

 

 

 

 

 

 

We're going to lead every single news cast with Trump and the January 6 committee.

 

 

 

The intent of which is:

 

"So while yes, the Democrats and their complicit voters that cheered it on because of mean tweets, have literally destroyed your livelihoods, budgets, and the American economy, we need to remind you of what a bad man this Trump guy is."

[Big Blitz]

These are the signs of a desperate people in a country that can't afford food

 

 

‘Big problem’: Wawa considers halting expansion after viral riot video

 

....“It was approximately 50 to 100 people,” Philadelphia police Capt. John J. Ryan said following the September 24 incident. “The Wawa was completely sacked by the kids coming inside and destroying things, and thankfully there were no injuries to the Wawa, personnel, or to responding police.”

 

https://nypost.com/2022/10/13/big-problem-wawa-considers-halting-expansion-after-viral-riot-video?utm_source=nypost&utm_campaign=android_nyp

 

 

 

 

Obviously this to.   

 

These will be nationwide as soon as we become Venezuela.  

 

Not possible?  What if I told you 10 years ago there will be a flu outbreak and the entire world will be "locked down" like China.

 

 

 

Crime is up because of the following all caused by the CCPDNC:

 

1. Lives with no purposes because of Covid

2. Bad behavior enabled due to restorative justice 

3. Media sowing division everywhere 

4. Can't afford gas

5. Can't afford groceries 

Edited October 14, 2022 by Big Blitz

[B-Man]

 

 

Thanksgiving Is Being Canceled by Many Due to Bidenflation.

 

https://pjmedia.com/culture/matt-margolis/2022/10/14/thanksgiving-is-being-canceled-by-many-due-to-bidenflation-n1637046

 

 

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[B-Man]

 

 

                                   

 

 

THE STAGFLATION PRESIDENT: Joe Biden’s terrible economic legacy.

 

Another month, another bad report. On October 13 the Bureau of Labor Statistics announced that consumer price inflation, at an 8.2 percent annualized rate, was higher than expected through September. Americans continue to endure the worst inflation in four decades. They continue to experience a decline in real average hourly earnings. They continue to tell pollsters that the economic recession has arrived. Blerina Uruci, an economist at T. Rowe Price, does not like what she sees. “This is very troubling,” Uruci told the New York Times. “The trend is very troubling.”

 

Not at the White House. It doesn’t see any troubles. According to President Biden, the most recent BLS data are superfluous. After all, everybody already knows that “Americans are squeezed by the cost of living: that’s been true for years, and they didn’t need today’s report to tell them that.” As a matter of fact, Biden said in a statement, rising costs are “a key reason I ran for President.” And anyway, the situation is under control. “My policies—that Democrats delivered—directly tackles [sic] price pressures we saw in today’s report.”

 

End of story, thank you all very much, nothing to see here, move along, move along.

 

Just a minute. Biden’s reading of recent economic history is filled with evasions, half-truths, and “yarns.” They deserve comment and rebuttal. I don’t remember Biden staking his 2020 candidacy on inflation. He couldn’t have. The inflation hadn’t happened. It didn’t arrive until the spring of 2021. By which time Biden was living—during weekdays, at least—at 1600 Pennsylvania Avenue.

 

 

https://freebeacon.com/columns/the-stagflation-president/

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[reddogblitz]

On 10/7/2022 at 7:03 AM, BillStime said:

Go JOE go

 

 

 

What about blacks that aren't teens?  We HAD the lowest black unemployment ever a few years ago.

 

It's unemployment rate is at a 50 year low.  Good job President Biden.

 

I'm gonna hedge on 10m new jobs a little.  When President Biden came into office the country was 9 months into the lockdown causing millions and millions to lose their jobs.  Then when the lockdown ended in large part due to the vaccine,  companies had to hire workers back cuz once again they had customers.

[SoCal Deek]

That crazy Joe Biden is a real wizard if he now reports that rising prices were the reason he ran for President. The fact is that inflation was nearly flatlined from the day he left with Obama, six years ago. (Which in and of itself is actually part of the reason you’re seeing the rapid rise now.) That’s some crystal ball he’s hiding there! 

[B-Man]

 

Biden's economy.

 

 

[BillsFanNC]

 

[B-Man]

 

[Big Blitz]

1 hour ago, B-Man said:

 

 

 

Let's go Brandon!  Unemployment is low lol lol