Recession is upon us - disastrous economic data

[Roundybout]

2 minutes ago, Tommy Callahan said:

^^^^^^^^^ definitely not a cult

 

 

 

 

 

 

Real Americans are happy when the economy is good. I’m sorry your anti-Harris circlejerk has to be paused.

[Tommy Callahan]

2 minutes ago, Roundybout said:

Real Americans are happy when the economy is good. I’m sorry your anti-Harris circlejerk has to be paused.

If the economy is good, they wouldn't be cutting rates. rate cuts are to increase liquidity into the market. I am sure that's going to help the fixed, poor, working and middle classes struggling with inflation and housing cost.

 

But its great for the investor class.  amirite.

 

 

The tolerant left talks about the downtrodden and middle class. but in reality, are the party of wall street and the fortune 500.  and will ***** on those groups the first chance they have.

 

 

 

 

 

 

Edited September 18 by Tommy Callahan

[B-Man]

 

 

IT’S AN ELECTION YEAR, SO…: 

 

The Federal Reserve just cut interest rates by a half point. Here’s what that means for your wallet.

 

The Federal Reserve announced Wednesday it will lower its benchmark rate by a half percentage point, or 50 basis points, paving the way for relief from the high borrowing costs that have hit consumers particularly hard.

 

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the Fed’s moves still affect the borrowing and savings rates they see every day.

 

A series of interest rate hikes starting in March of 2022 took the central bank’s benchmark to its highest in more than 22 years, which caused most consumer borrowing costs to skyrocket — and put many households under pressure.

 

Now, with inflation backing down, “there are reasons to be optimistic,” said Greg McBride, chief financial analyst at Bankrate.com.

 

However, “one rate cut isn’t a panacea for borrowers grappling with high financing costs and has a minimal impact on the overall household budget,” he said. “What will be more significant is the cumulative effect of a series of interest rate cuts over time.”

 

https://www.cnbc.com/2024/09/18/federal-reserve-cuts-interest-rates-what-that-means-for-your-wallet.html

 

 

 

[Roundybout]

3 minutes ago, Tommy Callahan said:

If the economy is good, they wouldn't be cutting rates. rate cuts are to increase liquidity into the market. I am sure that's going to help the fixed, poor, working and middle classes struggling with inflation and housing cost.

 

But its great for the investor class.  amirite.

 

 

The tolerant left talks about the downtrodden and middle class. but in reality, are the party of wall street and the fortune 500.  and will ***** on those groups the first chance they have.

 

 

 

 

 

 

There is not one thing they could do that would make you think the economy is good. Your brain has been permanently poisoned, I fear.

[B-Man]

 

 

“Trump’s arrival in the Oval Office will result in a hailstorm of bad economic data,

 

and most of this will be due to the sudden end of statistical manipulations that have been in place for the last four years.”

 

https://alt-market.us/smoke-and-mirrors-what-happens-after-bidens-economic-manipulations-disappear/

[Roundybout]

2 minutes ago, B-Man said:

 

 

“Trump’s arrival in the Oval Office will result in a hailstorm of bad economic data,

 

and most of this will be due to the sudden end of statistical manipulations that have been in place for the last four years.”

 

https://alt-market.us/smoke-and-mirrors-what-happens-after-bidens-economic-manipulations-disappear/

Bold of you to assume Trump is getting anywhere near the White House 

[Joe Ferguson forever]

10 minutes ago, B-Man said:

 

 

IT’S AN ELECTION YEAR, SO…: 

 

The Federal Reserve just cut interest rates by a half point. Here’s what that means for your wallet.

 

The Federal Reserve announced Wednesday it will lower its benchmark rate by a half percentage point, or 50 basis points, paving the way for relief from the high borrowing costs that have hit consumers particularly hard.

 

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the Fed’s moves still affect the borrowing and savings rates they see every day.

 

A series of interest rate hikes starting in March of 2022 took the central bank’s benchmark to its highest in more than 22 years, which caused most consumer borrowing costs to skyrocket — and put many households under pressure.

 

Now, with inflation backing down, “there are reasons to be optimistic,” said Greg McBride, chief financial analyst at Bankrate.com.

 

However, “one rate cut isn’t a panacea for borrowers grappling with high financing costs and has a minimal impact on the overall household budget,” he said. “What will be more significant is the cumulative effect of a series of interest rate cuts over time.”

 

https://www.cnbc.com/2024/09/18/federal-reserve-cuts-interest-rates-what-that-means-for-your-wallet.html

 

 

 

No, unemployment and inflation are near goal so they made this fairly robust cut.  More to come as long as the numbers look good.  nothing political about it.

[All_Pro_Bills]

21 minutes ago, Roundybout said:

It’s all but inevitable. took 4 years, but the economy Trump left in shambles is almost repaired. 
 

 

Before COVID in Feb 2020 and the State level imposed lock downs that followed "Trump's economy" was doing fine.

[Joe Ferguson forever]

trump wants to make the fed political and influenced by the executive branch.  Bad idea

https://www.politico.com/newsletters/politico-nightly/2024/09/17/trumps-rate-cut-problem-00179714

This cut was fully justified without exec branch influence.

 

The latest facts on the ground aren’t quite cooperating with Trump’s inflation messaging, either. Gas prices are easing as oil prices dip on fears of slower global demand. Mortgage rates are finally easing for homebuyers on the sidelines. Wednesday’s rate cut will come as job growth continues (though at a slower pace), the unemployment rate remains historically low (though noticeably higher in recent months) and the stock market hovers around record levels. The most prominent foundation of Trump’s economic policy centers on the threat of tariffs, creating more anxiety about inflation among many businesses — and the central bank.

Edited September 18 by Joe Ferguson forever

[SectionC3]

21 minutes ago, Tommy Callahan said:

If the economy is good, they wouldn't be cutting rates. rate cuts are to increase liquidity into the market. I am sure that's going to help the fixed, poor, working and middle classes struggling with inflation and housing cost.

 

But its great for the investor class.  amirite.

 

 

The tolerant left talks about the downtrodden and middle class. but in reality, are the party of wall street and the fortune 500.  and will ***** on those groups the first chance they have.

 

 

 

 

 

 

Don’t rate cuts help homebuyers and encourage sellers to market their houses, thereby increasing supply and reducing demand?  

 

Also, at this point, you’re not struggling with inflation.  You’re struggling with sticky prices.  If you can’t afford those prices, then I suggest maybe working harder, or practicing frugality and going without, or voting Democrat to support such things as unions and tax cuts for the middle class.  Or you can vote MAGA, get yourself a little tax break, get Terry Pegula (for example) a big tax break, and see if those monies trickle down to you.  Good luck! 

5 minutes ago, All_Pro_Bills said:

Before COVID in Feb 2020 and the State level imposed lock downs that followed "Trump's economy" was doing fine.

Trump’s economy also relied very, very heavily on deficit spending.  His level of reducing intake from the rich folks and hoping that the rich folks allowed a little of their gains to trickle down was and is not sustainable. 

[The Frankish Reich]

Jerome Powell right now: "the economy is in a good place, and our intention is to keep it that way."

[Roundybout]

19 minutes ago, All_Pro_Bills said:

Before COVID in Feb 2020 and the State level imposed lock downs that followed "Trump's economy" was doing fine.

He tripled the national deficit my guy 

[SectionC3]

Just now, The Frankish Reich said:

Jerome Powell right now: "the economy is in a good place, and our intention is to keep it that way."

Tommy Eyerolls and other MAGA:  those Haitians who show up to work and who are on time and who work hard and who also aren’t high are taking our jobs and eating our cats and our dogs, including Miss Sassy!  And everything is too expensive!  I should be able to get drunk by noon and eat steak every night and have the government pay for my diabetes medication!  

[Joe Ferguson forever]

11 minutes ago, SectionC3 said:

 I should be able to get drunk by noon and eat steak every night and have the government pay for my diabetes medication!  

West Virginia is a good example.  Over $11000 per capita received in fed dollars and 45% of state revenue yet it's overwhelmingly red with much of its population calling D's socialist, biting the hand that feeds it.  I suspect some MAGAs here are the same.

https://www.newsandsentinel.com/news/local-news/2024/09/report-west-virginia-benefits-from-billions-in-federal-spending/#:~:text=West Virginia ranked eighth in,%2C” the report's authors stated.

Edited September 18 by Joe Ferguson forever

[Doc]

2 hours ago, Tommy Callahan said:

If the economy is good, they wouldn't be cutting rates. rate cuts are to increase liquidity into the market. I am sure that's going to help the fixed, poor, working and middle classes struggling with inflation and housing cost.

 

But its great for the investor class.  amirite.

 

 

The tolerant left talks about the downtrodden and middle class. but in reality, are the party of wall street and the fortune 500.  and will ***** on those groups the first chance they have.

 

The election's coming up, so...so much for the Fed being independent from the demands of the Administration.

[The Frankish Reich]

2 hours ago, SectionC3 said:

Tommy Eyerolls and other MAGA:  those Haitians who show up to work and who are on time and who work hard and who also aren’t high are taking our jobs and eating our cats and our dogs, including Miss Sassy!  And everything is too expensive!  I should be able to get drunk by noon and eat steak every night and have the government pay for my diabetes medication!  

I would be willing to wager that in 20 years these Haitian families and their children will be better educated and have higher earnings than their native Springfield OH counterparts. 

You know who used to understand this? The JD Vance of Hillbilly Elegy days. The white trash cukture is far more of a problem than the Haitian immigrant culture. 

[K D]

Just a reminder that the Federal Reserve is not federal and not a reserve. 

[ChiGoose]

19 minutes ago, K D said:

Just a reminder that the Federal Reserve is not federal and not a reserve. 

Duran Duran is neither Duran nor Duran

[Motorin']

9 minutes ago, ChiGoose said:

Duran Duran is neither Duran nor Duran

 

The Holy Roman Empire was neither holy, nor Roman. 

 

[Biden is Mentally Fit]

Whaaaat the ffff?