07-12-2023, 05:39 PM
(07-12-2023, 04:49 PM)BIGDADDYFROMCINCINNATI Wrote: According to the US Bureau of Labor June economic numbers:
Unemployment is 3.6% remaining the lowest its been since the 1960s;
INFLATION is now back to a normal 3% without causing a recession;
Wage growth has increased by 1.2%;
Union Worker productivity doubles in 25 of 30 selected trades.
Biden continues to reduce our national debt.
We are starting to see the fruits of Bidenomics by propping up the middle class while having the backs of our nation's blue-collar union workers as the national infrastructure bill kicks into full gear during the spring, summer, and fall months.
Expect continued strong economic growth into 2024 with unemployment remaining low and inflation in check.
US Bureau of Labor June '23 numbers
While it's been a pleasant surprise with what we've seen this last 6 months, I wouldn't say we're in the clear.
If inflation reverses course (which it may very well do with continued job and wage growth), then there's not much wiggle room left with increasing interest rates...which is the primary tool for combatting inflation. Powell has indicated there's still probably two more hikes by the end of the year. If The federal reserve chairman doesn't think the economy is under control, then why the heck do you?
Personal savings are completely drained and credit is increasing...just a couple months ago we were worried about banks being over leveraged and caused a mini run on banks. People are actually moving their cash from traditional institutions to money wallets (Venmo, Cash App, things like that).
There are a lot of indicators saying we're heading for a recession. I hope you're right, but you're in an incredible minority with this thinking.
Separately, you seem pleased inflation is back to the pre pandemic levels. So Biden (by your words) finally stopped the bleeding, but he can't fix all that blood we lost over the last 2 years?
Your eggs will forever be 7 dollars. That's not ok.
