Recession is upon us - disastrous economic data

[Tommy Callahan]

Media lied about Biden. Lied about jobs.  What else 

 

Journalistic integrity is on a sliding scale now. 

[Starr-Bills]

5 hours ago, Tommy Callahan said:

LMAO.  

Did you mean that.  Equity is you sharing your moms house with homeless,  no matter if your couch surfing the basement or not.

 

Cause the dems are running on Supply side, not demand side.  Huge stimuluses to control and create sectors. picking and choosing.  Almost all for the fortune 500 and PACS that get them in power.

 

Demand side is lower taxes and lower regulation. putting the power of the economy in people's hands.

 

you kinda proved my point.

 

 

What?

 

supply side, economics.

 

demand side economics

 

[B-Man]

 

 

Keep ignoring / deflecting from this news.

 

You can't defend Biden/Harris with this one

 

Fed Confronts Up to a Million US Jobs Vanishing in Revision

 

https://www.bloomberg.com/news/articles/2024-08-20/fed-confronts-up-to-a-million-us-jobs-vanishing-in-revision?embedded-checkout=true

 

 

[RiotAct]

2 minutes ago, B-Man said:

 

 

Keep ignoring / deflecting from this news.

 

You can't defend Biden/Harris with this one

 

Fed Confronts Up to a Million US Jobs Vanishing in Revision

 

https://www.bloomberg.com/news/articles/2024-08-20/fed-confronts-up-to-a-million-us-jobs-vanishing-in-revision?embedded-checkout=true

 

 

but dude, we have to save democracy!!!

[B-Man]

 

 

DOG BITES MAN: 

 

Yup, the Biden-Harris Administration Cooked the Jobs Books. 

 

“Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.”

 

https://pjmedia.com/matt-margolis/2024/08/20/yup-the-biden-harris-administration-cooked-the-jobs-books-n4931821

 

 

[The Frankish Reich]

16 hours ago, Starr-Bills said:

What?

 

supply side, economics.

 

demand side economics

 

Thank you.

Our friend has no idea what he's talking about.

He spends most of his time criticizing Democrats for using standard the standard Keynesian demand pumps (not that he knows these terms) to drive spending and economic growth, only to pay the price with increased inflation in due course. But he says the Trumpists will focus on the demand side.

[Tommy Callahan]

But trust the ones that provided this data. And revise it every month. And parrot it as a sign of a strong economy.  

 

It's all lies, smoke and mirrors with this disaster of an administration 

 

 

[The Frankish Reich]

1 minute ago, Tommy Callahan said:

But trust the ones that provided this data. And revise it every month. And parrot it as a sign of a strong economy.  

 

It's all lies, smoke and mirrors with this disaster of an administration 

 

 

A Nixonian among us.

 

https://en.wikipedia.org/wiki/Nixon_Jew_count#:~:text=The "Nixon Jew count" of,of Labor Statistics (BLS).

[Tommy Callahan]

3 hours ago, Tommy Callahan said:

But trust the ones that provided this data. And revise it every month. And parrot it as a sign of a strong economy.  

 

It's all lies, smoke and mirrors with this disaster of an administration 

 

 

Ugh. Intentional?  

3 hours ago, The Frankish Reich said:

A Nixonian among us.

 

https://en.wikipedia.org/wiki/Nixon_Jew_count#:~:text=The "Nixon Jew count" of,of Labor Statistics (BLS).

 

Edited August 21, 2024 by Tommy Callahan
Frank is simple

[ScotSHO]

13 minutes ago, The Frankish Reich said:

A Nixonian among us.

 

https://en.wikipedia.org/wiki/Nixon_Jew_count#:~:text=The "Nixon Jew count" of,of Labor Statistics (BLS).

 

818,000.  That's a lot of oopsies.  Sorry, eh as the Canucks would say.

[Tommy Callahan]

4 minutes ago, ScotSHO said:

 

818,000.  That's a lot of oopsies.  Sorry, eh as the Canucks would say.

And that's on top of the monthly revision down, a month after they release them. It's like unemployment, the economy and inflation are really as bad as the people (not talking heads and their parrots) say.   

 

Remove the cities not reporting gun violence to the FBI and you got another one of their outright manipulating of data for politics.  

 

Eff the victims of it.  It's about keeping control. 

Edited August 21, 2024 by Tommy Callahan
Dems only goal is power. That's it

[Starr-Bills]

A Labor Department report showed an estimate for total payroll employment between April 2023 and March 2024 was lowered by 818,000, a 0.5% drop from what was originally reported for the period, as the central bank gears up to start cutting interest rates in September.

 

Sound terrible. 0.5%. Stock market reacts positively, and fed is still planning on cutting rates. Think of all those jobs created if they boarder bill had passed, thousands of boarder agents and the knock on economic effect, good thing it was killed to give the felon a win. sigh.

[The Frankish Reich]

This explains the revisions and why they happen. No conspiracy. No diabolical plot to make things look better or worse.

Could this revision be explained in part by recent immigrants employment? I'd have to research that, but given the difference in the two surveys that result in the revisions, I'm guessing the answer is yes.

 

https://www.epi.org/blog/outrageous-attack-bls/

[Tommy Callahan]

8 minutes ago, Starr-Bills said:

A Labor Department report showed an estimate for total payroll employment between April 2023 and March 2024 was lowered by 818,000, a 0.5% drop from what was originally reported for the period, as the central bank gears up to start cutting interest rates in September.

 

Sound terrible. 0.5%. Stock market reacts positively, and fed is still planning on cutting rates. Think of all those jobs created if they boarder bill had passed, thousands of boarder agents and the knock on economic effect, good thing it was killed to give the felon a win. sigh.

Of course they would.  

 

Lower rates would be huge for the fortune 500 

 

Not so much for the people struggling with inflation 

 

Like I said before.  They talk nice.  But they don't give a rats about the victims of the crime or the victims of their horrific policies .  

 

How many missing kids from the border.  Unemployment data fudged to make Biden look better not reporting criminals to ice making Americans less safe and more victims.  Not reporting gun crime to the FBI.  Creating more victims.  Massive stimulus to the fortune 500, and more homeless every day. 

Edited August 21, 2024 by Tommy Callahan
Dems are tools

[The Frankish Reich]

1 minute ago, Tommy Callahan said:

Of course they would.  

 

Lower rates would be huge for the fortune 500 

 

Not so much for the people struggling with inflation 

Yeah, lower rates = lower monthly payments for people with credit card debt.

Lower rates = lower mortgage payments for people buying a house or refinancing.

 

Who would want that?

 

Honestly, you need to read up on some basic economics and take a break from these threads until you're up to speed.

[Tommy Callahan]

2 minutes ago, The Frankish Reich said:

Yeah, lower rates = lower monthly payments for people with credit card debt.

Lower rates = lower mortgage payments for people buying a house or refinancing.

 

Who would want that?

 

Honestly, you need to read up on some basic economics and take a break from these threads until you're up to speed.

Perception dictates reality. 

 

Your only looking at it from your angle  

 

Fixed, working , middle , poor are struggling with cost.  

 

How would that help them

 

 

Edited August 21, 2024 by Tommy Callahan
Frank is a moron on levels

[Starr-Bills]

7 minutes ago, Tommy Callahan said:

Of course they would.  

 

Lower rates would be huge for the fortune 500 

 

Not so much for the people struggling with inflation 

 

Like I said before.  They talk nice.  But they don't give a rats about the victims of the crime or the victims of their horrific policies .  

 

How many missing kids from the border.  Unemployment data fudged to make Biden look better not reporting criminals to ice making Americans less safe and more victims.  Not reporting gun crime to the FBI.  Creating more victims.  Massive stimulus to the fortune 500, and more homeless every day. 

But you pro free market and against price gouging legislation. Which is it?

[The Frankish Reich]

Just now, Tommy Callahan said:

Perception dictates reality. 

 

Your only looking at it from the well off aspect.  

 

Fixed, working , middle , poor are struggling with cost.  

 

How would that help them

 

 

Did you read the part about credit card debt? Borrowing costs in general?

Because in general, the better off you are, the less debt you have.

I'm fortunate. I've worked hard and steadily for a long time. I was able to save money for retirement. I don't have any debt. I am able to invest basically risk-free at about a 5% interest rate now. Rates go down, all of a sudden I'm not doing so well. Interest rate cuts will probably hurt me.

But they will probably help a younger version of me, financing a car, upgrading to a better home thanks to a lower interest rate, lowering my monthly payments on the credit card debt I'm trying to get rid of, etc.

[Roundybout]

Not great news, but jobs still continued to increase and it looked like the S&P priced this revision in. I’d expect rate cuts from the Fed in September.

[K D]

6 minutes ago, The Frankish Reich said:

Did you read the part about credit card debt? Borrowing costs in general?

Because in general, the better off you are, the less debt you have.

I'm fortunate. I've worked hard and steadily for a long time. I was able to save money for retirement. I don't have any debt. I am able to invest basically risk-free at about a 5% interest rate now. Rates go down, all of a sudden I'm not doing so well. Interest rate cuts will probably hurt me.

But they will probably help a younger version of me, financing a car, upgrading to a better home thanks to a lower interest rate, lowering my monthly payments on the credit card debt I'm trying to get rid of, etc.

Lol uhh what? Have you been listening to Dave Ramsey? Debt is how you get rich. You use other people's money to leverage. The richest people have by far the most debt. Elon Musk probably has more debt than entire countries.