NOV '23 ECONOMIC DATA- Smooth Sailing ahead

[Stewy]

More bad news - the DOW just surged over 37,000 for the first time in history. The collapse continues......

Oh and the FED is going to start cutting rates because they feel inflation is coming under control and want to soften the landing to their 2% target.

Oh and they didn't quote anything near 20%. You know.....the people that actually regulate it. According to the FED, AP and Reuters the current inflation rate is 3.4%, down from 7.5% last year. AP and Reuters are as neutral as it gets. Time to stop believing the lies.

[NATI BENGALS]

Record high stock market close
Record high oil production
Pushing record streak for low unemployment numbers
Record investments in American infrastructure
Israel fighting our Islamic extremist enemies
Ukraine fighting our Russian enemies


GOP wants to impeach the guy. Because they are getting desperate and despite all the obstruction things are still continuing to get better since our last potus oversaw the great toilet paper famine of 2020 then tried to destroy our democracy.

[*pally*]

(12-13-2023, 05:56 PM)Luvnit2 Wrote: Read the entire article and maybe you and others will understand. rump was at 5.6% for his entire Presidency (PIR), see below.

https://rollcall.com/2023/09/20/latest-inflation-data-shows-americans-are-still-not-buying-bidenomics/


Biden, apparently, doesn’t realize that his economic program has not only failed to fix the economy, it has actually made things worse for average Americans. When inflation outpaces wage growth, people instinctively know it isn’t working for them or their families.


The CPI that is usually reported reflects the impact of Bidenomics’ year-over-year rate, while the Presidential Inflation Rate measures the rate of inflation (based on CPI data) by contrasting the CPI from the presidential inauguration month with the current month. This paints a more comprehensive picture of the scale of inflation over a presidency.

Since President Biden took office, prices have increased cumulatively by 17.4 percent, while hourly wages have increased only 13 percent. In looking at the past seven presidents, only Jimmy Carter had a bigger inflation rate, 26.2 percent, at a similar point in his presidency. For the past four presidents, their Presidential Inflation Rate was in single digits, and, specifically, Biden’s PIR is triple that of where Donald Trump (5.6 percent) and George W. Bush (5.4 percent) were at this point in their first terms.

Despite Democrats’ relentless efforts to claim otherwise, Biden’s economic track record is lacking at best. Yes, inflation has come down from the near historic highs people lived through in 2022, but prices continue to rise significantly, just at a slower rate.

So I read the article and then did some deeper research because the only place this "statistic" shows up is in this particular article.  This index was developed by a right-wing former Newt Gingrinch employee.  It's a made-up number with no context.  Of course, it will look worse for a president who took office when the economy was crap and improved it than it would be for a president who took office when the economy was good and then crashed it.  
It measures numbers at two ends with no concern about what happened between the start and end.  A made up Republican numer because we know they can't win with the truth

[BIGDADDYFROMCINCINNATI]

(12-13-2023, 06:35 PM)NATI BENGALS Wrote: Record high stock market close
Record high oil production
Pushing record streak for low unemployment numbers
Record investments in American infrastructure
Israel fighting our Islamic extremist enemies
Ukraine fighting our Russian enemies


GOP wants to impeach the guy. Because they are getting desperate and despite all the obstruction things are still continuing to get better since our last potus oversaw the great toilet paper famine of 2020 then tried to destroy our democracy.

The GQP continues to root against American prosperity and its resilience in its attempt to destroy Democracy and the Constitution.

[Luvnit2]

(12-13-2023, 06:11 PM)Stewy Wrote: More bad news - the DOW just surged over 37,000 for the first time in history.  The collapse continues......  

Oh and the FED is going to start cutting rates because they feel inflation is coming under control and want to soften the landing to their 2% target.  

Oh and they didn't quote anything near 20%.  You know.....the people that actually regulate it.  According to the FED, AP and Reuters the current inflation rate is 3.4%, down from 7.5% last year.  AP and Reuters are as neutral as it gets.  Time to stop believing the lies.

Some good news, but make sure everyone understands 3.4 down from 7.5%  last years means inflation over that time is 10.9%. In contrast, Trump had a little of 5% inflation over 4 years.

That is why lower and income hate this economy and say the Biden economy in polls only has a 36% approval rating.

[Luvnit2]

(12-14-2023, 03:18 PM)BIGDADDYFROMCINCINNATI Wrote: The GQP continues to root against American prosperity and its resilience in its attempt to destroy Democracy and the Constitution.

If you think almost 20% inflation under Biden is great news, you have no clue on every day low and middle class live in constant fear if not being able to buy all groceries, buy a house, keep their car and enjoy life.

I am not sure wanting inflation (buying power for everyone) to be low is destroying Democracy and the Constitution. That is some far out thoughts.

The problem the US has is you can't just dismiss the last almost 3 years inflation numbers. You can't dismiss wages have not kept up with inflation. Wages are showing signs of improvement, but hard to make up the deficit during Biden

There was no deficit of wages verus inflation under the Trump 4 years. In fact, Trump created higher wages than inflation over 4 years, not 1 or 2 months like Biden has done.

[Luvnit2]

(12-14-2023, 02:41 PM)BIGDADDYFROMCINCINNATI Wrote: You continue to show you're ignorance and lack of understanding of economics.  Here's what a GOP Senate Finance Committee member had to say about it.

Arkansas GOP Senator Tom Cotton admits the policies of Donald Trump caused record inflation by printing $13-Trillion increasing the paper money supply by 35% or 60% of our nation's GDP, manipulating the Federal Reserve by threatening to fire the chair if he dared to raise interest rates, and responsible for adding $8-Trillion to our national debt and refusing to balance the budget.

Arkansas GOP Sen. Cotton blames Trump's policies for record inflation

You continue to attack and call me ignorant.

 Did Biden spend trillions also? Did Biden have a huge hand in inflation due to his poor energy polices and attack on fossil fuels which was seen immediately.

If you want to address me in the future, keep the personal attacks out of it and I will do the same.

[*pally*]

(12-14-2023, 04:38 PM)Luvnit2 Wrote: You continue to attack and call me ignorant.

 Did Biden spend trillions also? Did Biden have a huge hand in inflation due to his poor energy polices and attack on fossil fuels which was seen immediately.

If you want to address me in the future, keep the personal attacks out of it and I will do the same.

what poor energy policies? The US is producing more oil and gas than ever before even as he works to diversify from a simple reliance on fossil fuels.

He stopped the building of an environmentally risky pipeline.  A pipeline was being built by a Canadian company to move Canadian sludge oil to the gulf for transportation to China.  

He withheld UNUSED drilling leases on public lands.  Companies are perfectly able to apply for them when they are ready to start working on the site.

WORLDWIDE events such as a sudden shift in world side demand coupled with extreme profit-taking caused the leap in pump prices...which are now much much lower, though former Liar-in-Chief Trump is still claiming $8.00 a gallon ( a number never seen in the US).  My local station is at $2.65.

Energy costs are very multi-faceted and worldwide influenced.  A few, relatively minor, actions by the President are not going to cause a massive long-term increase in oil prices.  

[BIGDADDYFROMCINCINNATI]

(12-14-2023, 04:29 PM)Luvnit2 Wrote: Some good news, but make sure everyone understands 3.4 down from 7.5%  last years means inflation over that time is 10.9%. In contrast, Trump had a little of 5% inflation over 4 years.

That is why lower and income hate this economy and say the Biden economy in polls only has a 36% approval rating.

Wrong again!  

If you reference Table 1 of the Bureau of Labor Statistics report it says, "Unadjusted percent change from Nov 2022 thru Nov 2023," so it's measuring a 12-month rolling accumulation of inflation and we've experienced 3.1% over the past 12 months.  

Starting on page 9, here are the BLS reference tables so you can do your research:

https://www.bls.gov/news.release/pdf/cpi.pdf

[NATI BENGALS]

This was a great short clip I saw this morning. Explaining the supply chain normalizing. And prices falling.

https://www.cnbc.com/video/2023/12/15/how-the-hottest-holiday-items-make-it-from-manufacturers-to-retailers.html

For the MAGANOMICS faithful. Republicans, all thanks to the immaculate guidance from their dear leader, finally found a way to save the day and stop Biden from disrupting the supply chain and purposely making us pay more for everything

[SunsetBengal]

(12-15-2023, 01:00 PM)BIGDADDYFROMCINCINNATI Wrote: Wrong again!  

If you reference Table 1 of the Bureau of Labor Statistics report it says, "Unadjusted percent change from Nov 2022 thru Nov 2023," so it's measuring a 12-month rolling accumulation of inflation and we've experienced 3.1% over the past 12 months.  

Starting on page 9, here are the BLS reference tables so you can do your research:

https://www.bls.gov/news.release/pdf/cpi.pdf

I'm not sure that is accurate, either.  For example on the table you referenced on page 9, the cost of electricity only increasing 3.4% seems a bit off.  As an AEP customer, our only source, we received letters explaining that we were going to see a 30% increase in electricity costs, they did not lie.

[*pally*]

(12-15-2023, 08:46 PM)SunsetBengal Wrote: I'm not sure that is accurate, either.  For example on the table you referenced on page 9, the cost of electricity only increasing 3.4% seems a bit off.  As an AEP customer, our only source, we received letters explaining that we were going to see a 30% increase in electricity costs, they did not lie.

but keep in mind those are national numbers.  Regional or more local numbers may vary...which may also explain some of the mixed reactions about the economy.

[SunsetBengal]

(12-15-2023, 08:57 PM)pally Wrote: but keep in mind those are national numbers.  Regional or more local numbers may vary...which may also explain some of the mixed reactions about the economy.

No, this was a specific letter from AEP in our district.  The ironic part is that the firm I work with does copious amounts of land surveying for AEP powerlines, both new lines and upgrades to existing.  We were joking around with the big boss, asking him 'can't you help us with this?'.

[*pally*]

(12-15-2023, 09:05 PM)SunsetBengal Wrote: No, this was a specific letter from AEP in our district.  The ironic part is that the firm I work with does copious amounts of land surveying for AEP powerlines, both new lines and upgrades to existing.  We were joking around with the big boss, asking him 'can't you help us with this?'.

Oh yeah, Ohio is paying for our corrupt PUCO board with that rate increase.  But the numbers used in economic data are national numbers so while Ohio's numbers went up others may have gone done leading to an overall moderate increase nationwide.

[SunsetBengal]

(12-15-2023, 09:27 PM)pally Wrote: Oh yeah, Ohio is paying for our corrupt PUCO board with that rate increase.  But the numbers used in economic data are national numbers so while Ohio's numbers went up others may have gone done leading to an overall moderate increase nationwide.

What you say is true, but it doesn't make suck any less for people in places far outside of the National averages.

[*pally*]

(12-15-2023, 09:53 PM)SunsetBengal Wrote: What you say is true, but it doesn't make suck any less for people in places far outside of the National averages.

totally agree...I think I even said that differences like this might explain various reactions to the economy

[Belsnickel]

(12-15-2023, 08:46 PM)SunsetBengal Wrote: I'm not sure that is accurate, either.  For example on the table you referenced on page 9, the cost of electricity only increasing 3.4% seems a bit off.  As an AEP customer, our only source, we received letters explaining that we were going to see a 30% increase in electricity costs, they did not lie.

I've highlighted the issue, here. Publicly traded corporation without competition in so much of the country. This is what is called a "market failure" in economic terms.

[SunsetBengal]

(12-15-2023, 10:17 PM)Belsnickel Wrote: I've highlighted the issue, here. Publicly traded corporation without competition in so much of the country. This is what is called a "market failure" in economic terms.

We've even went so far as to change the source of the electric, yet AEP raises their rates of transmission to the home.

[M.W.]

(12-13-2023, 08:23 AM)Belsnickel Wrote: The economy was in a crisis moment during the pandemic. Wasn't because of the former or current POTUS. The world was in turmoil and the economies took a dive on a global scale. Trump tried to deny the problem. When Biden took office, he worked with Congress to enact policies to plug the holes. The Fed did their thing and worked to slow inflation by raising rates. Surprise surprise, it worked. All of this while Republican lawmakers did their best to stand in the way of efforts to improve the situation and took credit for things they voted against because it turned out to work well for their people. Now our economy is the best among developed nations coming out of the pandemic. We have seen the strongest recovery of any G20 nation and some people would like to tell you that it's a failure of policy. They're wrong at best, brainwashed at worst.

The fact is that Biden and the Democratic lawmakers in Congress, as well as the Fed, helped to ensure a softer landing coming out of the pandemic than would have otherwise happened. It was always going to result in some bumps and bruises, maybe even a broken bone, but the direction we were heading was full on body cast with traction.

Definitely and it wouldn't have gotten as bad as it did if the POTUS would have acted presidential and actually prepared Americans for what was coming rather than doing nothing, lying and suggesting ingesting bleach.  The economy didn't have to be as bad as it got but a whole political party denied the severity of Covid knowing full well what it was and how devastating it was going to be.  It really made absolutely zero sense.

[BIGDADDYFROMCINCINNATI]

(12-17-2023, 11:22 PM)M.W. Wrote: Definitely and it wouldn't have gotten as bad as it did if the POTUS would have acted presidential and actually prepared Americans for what was coming rather than doing nothing, lying and suggesting ingesting bleach.  The economy didn't have to be as bad as it got but a whole political party denied the severity of Covid knowing full well what it was and how devastating it was going to be.  It really made absolutely zero sense.

It's sure funny how the maga folks don't want to even try and explain how Trump printed $13 Trillion thus adding a 35% supply to our paper currency (Fiat money,) or 60% of our national GDP, and then added $8-Trillion to our national debt all the while refusing to balance the budget DIDN'T lead to hyperinflation.  Not to mention the manipulation of the Fed's chairman Jerome Powell and threatening to fire him if he dared to raise interest rates to calm an overheating economy down before it led to hyperinflation.  Then COVID hit and the supply chains all came to a halt leading to more inflation.  But hey, let them drink bleach.

The maga folks just want to think just because the name of the mailbox changed at 1600 Pennsylvania Ave., that all those decisions that happened just months earlier suddenly didn't happen.    Anyone with an elementary education in economics knows anytime you increase the supply of something it makes it worth less and $$ is no different, add the fact it's all fiat money (Paper $ back by nothing) it makes it that much worse.