07-12-2023, 06:07 PM
(07-12-2023, 05:39 PM)basballguy Wrote: 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.WTF? This is an example of GOP fearmongering in a passive-aggressive manner. You must be reading or listening to right-wing tabloid media, b/c the economic reports I read this morning have a recession in the rearview mirror. Yes, the Fed needs to be careful in not to raise interest rates too fast or it will spark a recession. However, this is no longer the case as we have interests rates under control, job growth and wages are up, and there are plenty of jobs out there for people who want them. Also, personal savings are increasing. So if people are depleting their savings in this job market it's b/c they refuse to get off their rear end and go to work.
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.
The bleeding (Inflation) that Draft Dodger Don "the Conman" Trump created by printing $ Trillions back by nothing, manipulating the Federal Reserve by not allowing an interest rate increase, increasing our national debt by over $ 6.8 trillion, Trump added 40% to our debt the most of any president, and the massive tax cuts which benefited the wealthiest Americans the most. These are the main factors leading to 17% inflation that Biden inherited from tRump.
If you'd click on the link you'd see eggs, meat, fish, and poultry have negative information numbers meaning they went down. The right-wingers just can't stand and hate that Americans are starting to turn the corner with Joe Biden's economic policies. So logically they hate American prosperity.
