Doc Posted July 25, 2022 Posted July 25, 2022 4 hours ago, Gene Frenkle said: Honestly, I think Biden is just trying to hold this economy and market together through midterms, if that's even possible. No, he's holding on for dear life.
ALF Posted July 25, 2022 Posted July 25, 2022 With millions of low pay jobs open time to make some illegals , legal to work. 1
Gene Frenkle Posted July 25, 2022 Posted July 25, 2022 3 hours ago, Doc said: No, he's holding on for dear life. Care to expand on that?
Doc Posted July 25, 2022 Posted July 25, 2022 3 minutes ago, Gene Frenkle said: Care to expand on that? I'm not talking health-wise.
BillStime Posted July 25, 2022 Posted July 25, 2022 2 minutes ago, Doc said: I'm not talking health-wise.
Gene Frenkle Posted July 25, 2022 Posted July 25, 2022 1 minute ago, Doc said: I'm not talking health-wise. Neither was I. This is a thread about the economy. 1
Big Blitz Posted July 25, 2022 Author Posted July 25, 2022 16 hours ago, B-Man said: Watch: Janet Yellen's Spin on Recession Defies Reality As we reported earlier, the word looks like there’s going to be a negative-1.6 GDP when the numbers come in this week on July 28th. Two consecutive quarters of negative GDP is the common definition of a recession. The White House is already trying to spin the anticipated results and redefine what a recession is. ‘On Sunday, Treasury Secretary Janet Yellen acknowledged the real definition of a recession. But even while acknowledging the proper definition and acknowledging that a negative GDP number was likely coming, she tried to spin and claimed that this was “not an economy in recession,” trying to term it just a “slowdown” and a “transition.” So, the same Biden team that has lied about inflation and gas prices now wants to redefine what a recession is to deny reality. Yellen was wrong about inflation too, calling it “transitory.” It’s been “transitory” for about 13 months now. Yellen trying to claim it wouldn’t be a recession was even a little too much for “Meet the Press” host Chuck Todd. Todd said she was “splitting hairs” and that it met the “technical definition” of recession, but she was trying to claim it wasn’t. https://redstate.com/nick-arama/2022/07/24/watch-janet-yellens-spin-on-recession-defies-reality-n600962 Omg. They all got the talking points The Chairman of the Fed taking orders from the WH. No big deal: Yellen is compromised. No surprise. Almost everything is. 1
BillStime Posted July 25, 2022 Posted July 25, 2022 3 minutes ago, Big Blitz said: Omg. They all got the talking points The Chairman of the Fed taking orders from the WH. No big deal: Yellen is compromised. No surprise. Almost everything is. OMG - THEY ALL HAVE TALKING POINTS - lmao JFC
Big Blitz Posted July 25, 2022 Author Posted July 25, 2022 6 minutes ago, BillStime said: OMG - THEY ALL HAVE TALKING POINTS - lmao JFC More: It's white people calling this a recession!! That's the problem! 1 1
Doc Posted July 25, 2022 Posted July 25, 2022 Worst Admin in history, at exactly the worst time. All because of fake scandals and people believing a senile corrupt guy living in his basement during a pandemic could somehow make it better. 2
wnyguy Posted July 25, 2022 Posted July 25, 2022 38 minutes ago, Doc said: Worst Admin in history, at exactly the worst time. All because of fake scandals and people believing a senile corrupt guy living in his basement during a pandemic could somehow make it better. 81 million of 'em. Let me say that again, 81 million votes. I bet half of them are rolling over in their graves now.
Gene Frenkle Posted July 25, 2022 Posted July 25, 2022 42 minutes ago, Doc said: Worst Admin in history, at exactly the worst time. All because of fake scandals and people believing a senile corrupt guy living in his basement during a pandemic could somehow make it better. Except that every admin would do the same thing at this point. No admin wants to be the one still looking for a chair when the music stops. It has to do with sensationalism and gotcha politics - lazy, uninformed Americans will now always point at the current admin if/when the market tanks. This crisis has been brewing since about 2008 or even before. MSM will tell everyone what to think, and opinion will be fact, depending on which biased "news" you happen to follow. People will eat it up. It's political suicide to let the market tank during your watch, which is stupid. That's the country we live in now and we're all going to feel pain because of it, perhaps deservedly so. You certainly have. You're out of your element, Donny. 1
Big Blitz Posted July 25, 2022 Author Posted July 25, 2022 Summers: "Stagflation likely." The top economist who knew inflation would be a disaster says get ready for a bumpy recession ride: ‘Soft landings represent a kind of triumph of hope over experience.’ Summers, who was Treasury Secretary under President Clinton and a top economic advisor to President Obama, also noted that as a result of inflation’s staying power, he sees “a greater risk of stagflation” than the stock market is currently discounting. https://fortune.com/2022/07/25/recession-larry-summers-economy-soft-landing-inflation-stagflation/ Nice job Commies! 1
Big Blitz Posted July 25, 2022 Author Posted July 25, 2022 Walmart stock down over 8 percent in after hours trading.
Gene Frenkle Posted July 25, 2022 Posted July 25, 2022 3 minutes ago, Big Blitz said: Walmart stock down over 8 percent in after hours trading. If you're watching tickers, look at what SPY does nearly every day in the last half hour of regular trading. It will be down 1-3% and in the last half hour will rebound to get back to nearly even or even green. John Q. Public looks at the bottom line in the NYT and says "gee, the market is pretty flat today, nothing to worry about here!". It appears to me that it is being manipulated for our "soft landing". Can't crash too hard too fast. Many millions or billions of likely freshly-printed dollars are, imo, being used to make this happen. All of this because America cannot differentiate between politics and the stock market. Nobody wants to be the Prez who "let" the market crash. All the while, our money becomes more and more worthless as the Fed prints more and more. We're not paying attention and America is tricked into believing everything is fine. Make no mistake, this is Wall Street's mess. They get away with it because all of our elected officials trade on inside info with no repercussions. In fact, instead of jail time, they get millions in lobbying money from the Wall Street giants who literally write the rules to their advantage, "self-report" and generally do whatever the hell they want. This will never change so long as the lobbying remains as-is and elected officials are allowed to play the stock market and make millions of of both of these things. This happens with almost every official who has been in office long enough, regardless of party affiliation. The truly insane part is that changing this would require Congress to vote against their own economic greed and self-interest and everyone knows that only the Bible Belt does that sort of thing. It's not left vs. right we should be worried about. It's rich vs. poor. If you're not uber rich (multi, multi-millionaire at least), you're just cannon fodder to them. Believe it. 1
Doc Posted July 25, 2022 Posted July 25, 2022 5 hours ago, Gene Frenkle said: Except that every admin would do the same thing at this point. No admin wants to be the one still looking for a chair when the music stops. It has to do with sensationalism and gotcha politics - lazy, uninformed Americans will now always point at the current admin if/when the market tanks. This crisis has been brewing since about 2008 or even before. MSM will tell everyone what to think, and opinion will be fact, depending on which biased "news" you happen to follow. People will eat it up. It's political suicide to let the market tank during your watch, which is stupid. That's the country we live in now and we're all going to feel pain because of it, perhaps deservedly so. You certainly have. You're out of your element, Donny. I certainly have...what? You can barely keep yourself straight, don't think you know about others. And yes, lazy, uninformed Americans will now always point at the current admin when things go bad and the MSM will tell everyone what to think. That's how we got Joke, who proved that Wuhan virus was going to be bad no matter who was President, as I was saying all during the pandemic. The difference is the MSM isn't chortling over the number of deaths anymore... But Joke's policies and incompetent admin have absolutely made things worse. I'm sure you'll disagree. No matter. It's what will lose Dems Congress in November and the Presidency in 2024. And this leftward turn won't help matters any. 1
leh-nerd skin-erd Posted July 26, 2022 Posted July 26, 2022 14 hours ago, Gene Frenkle said: If you're watching tickers, look at what SPY does nearly every day in the last half hour of regular trading. It will be down 1-3% and in the last half hour will rebound to get back to nearly even or even green. John Q. Public looks at the bottom line in the NYT and says "gee, the market is pretty flat today, nothing to worry about here!". It appears to me that it is being manipulated for our "soft landing". Can't crash too hard too fast. Many millions or billions of likely freshly-printed dollars are, imo, being used to make this happen. All of this because America cannot differentiate between politics and the stock market. Nobody wants to be the Prez who "let" the market crash. All the while, our money becomes more and more worthless as the Fed prints more and more. We're not paying attention and America is tricked into believing everything is fine. Make no mistake, this is Wall Street's mess. They get away with it because all of our elected officials trade on inside info with no repercussions. In fact, instead of jail time, they get millions in lobbying money from the Wall Street giants who literally write the rules to their advantage, "self-report" and generally do whatever the hell they want. This will never change so long as the lobbying remains as-is and elected officials are allowed to play the stock market and make millions of of both of these things. This happens with almost every official who has been in office long enough, regardless of party affiliation. The truly insane part is that changing this would require Congress to vote against their own economic greed and self-interest and everyone knows that only the Bible Belt does that sort of thing. It's not left vs. right we should be worried about. It's rich vs. poor. If you're not uber rich (multi, multi-millionaire at least), you're just cannon fodder to them. Believe it. You’re not far off here Frenkle. I’d suggest Washington, especially establishment insiders, are an extension of Wall Street—sort of an administrative branch office. Somebody has to pull the strings to keep things popping. In that regard, left v right matters with respect to making choices on those that hurt you less.
Recommended Posts