And some people predict wall street experts who think the economy hinges on stock prices will be right at some point in the future. You do realize you have posted for months now that we would start having job losses. Yet that hasn't happened. Jobs are continually being created. Unemployment is at a 40 year low. Let me know when the things you keep claiming are going to happen actually happen. So far your average hasn't been so good.
Crystal balls have been known to lack accuracy.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
And some people predict wall street experts who think the economy hinges on stock prices will be right at some point in the future. You do realize you have posted for months now that we would start having job losses. Yet that hasn't happened. Jobs are continually being created. Unemployment is at a 40 year low. Let me know when the things you keep claiming are going to happen actually happen. So far your average hasn't been so good.
Crystal balls have been known to lack accuracy.
I have been posting for about 2-3 months that stuff would start coming apart. Economists are saying that by EOY to the middle of next year we will start to slip into a recession.
If anyone pays for groceries, they know things aren't good. If they put gas in their car, they know things aren't good. If they have any type of retirement savings over $10,000, they know things aren't good.
If everybody had like minds, we would never learn.
better be buying up emerging market ETFs and mutual funds.
“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
Share By Jake Perez, Editor at LinkedIn News Updated 1 hour ago
A clear majority of economists surveyed by The Wall Street Journal now say they expect the U.S. to enter a recession within the next 12 months. The latest tally shows 63% predicting a recession in the next year, a big jump from July's 49%. The darkening picture doesn't end there: Economists now expect gross domestic product to keep contracting through the first two quarters of 2023, which is a shift in their predictions of soft growth from the last quarterly survey. They expect employers to respond with job cuts in the second and third quarters.
Policymakers have already expressed concerns that stubbornly high inflation, high energy costs and rising interest rates are increasing recession risks worldwide.
Blocking those who argue to argue, eliminates the argument.
Hey SUPER, just an FYI, we're always skirting along the edge of recessions. And we are probably headed toward a huge recession right now. That's what happens when the oligarchy doesn't like what the people want.
Your feelings and opinions do not add up to facts.
Now the President is poking the Saudi's in the ribs. That is going to do wonders at the pumps for sure...lol
This administration's miscalculations are going to thrust us in to a world war. If everything else has failed, might as well start a big war to make people forget.
If everybody had like minds, we would never learn.
What, should Biden allow the Saudi’s to continue to hurt US citizens while we protect them from Russia and Iran while we continue to supply Saudi with more and more arms? I think not. Putin’s war has put us at the brink of world war and further economic collapse not Biden. I get the finger pointing and dramatic anti Democratic statements, it’s almost November. Lol
A life is not important except in the impact it has on other lives. – Jackie Robinson
Politically, it's scare tactics. Business-wise, it's greed at the highest levels. Worldwide it is fearful people pointing fingers instead of doing something about it. This economy is more a reflection of the last 6 years than anything else and Fitch predicts a mild recession. If consumers really want to fight inflation, stop buying crap you don't need or doing stuff you don't need to do until the economic upturn. Also remember it's an election year and the fearmongers want your vote.
Your feelings and opinions do not add up to facts.
Always ask the questions- who, what, where, when, WHY, and how- Biden makes his "Promises"- just like Trump's- the wall will be paid for by Mexicans...later stated, the wall is finished...REALLY- then we don't have immigration problem.
The old statement- it's the economy stupid, still applies- Democrats can expect losses. As an independent and old guy- we can't continue to print money and give it away. Do any Democrats remember this statement- "Ask not what your country can do for you...ask what you can do for your country"- here are a few- who should be responsible for their college costs, why is money owed anyone for something 150 yrs ago- reparations - who said medical should be free for mostly old people (we do need to cut medicare)- it makes no cents to replace hips for every 70 yr old....we ALL die. We, old, should NOT bankrupt our grandkids. Peace to all.
"You've never lived till you've almost died, life has a flavor the protected will never know" A vet or cop
All politicians make promises. Some are outrageously stupid like the wall. Or like raising taxes on the middle class and lowering taxes for the rich. Some are smart like lowering prescription drug costs and allowing Medicare to negotiate those costs. Also you do realize that relieving millions of Americans of $10,000 of student loans isn’t making college free. Also Republicans can expect big loses by taking away a women’s right to her own reproductive system. Blue Wave III.
BTW you could add the letters “ler” to your handle. Very fitting. “We all die” common man!
A life is not important except in the impact it has on other lives. – Jackie Robinson
Always ask the questions- who, what, where, when, WHY, and how- Biden makes his "Promises"- just like Trump's- the wall will be paid for by Mexicans...later stated, the wall is finished...REALLY- then we don't have immigration problem.
The old statement- it's the economy stupid, still applies- Democrats can expect losses. As an independent and old guy- we can't continue to print money and give it away. Do any Democrats remember this statement- "Ask not what your country can do for you...ask what you can do for your country"- here are a few- who should be responsible for their college costs, why is money owed anyone for something 150 yrs ago- reparations - who said medical should be free for mostly old people (we do need to cut medicare)- it makes no cents to replace hips for every 70 yr old....we ALL die. We, old, should NOT bankrupt our grandkids. Peace to all.
So…when people hit 70 they should just be shot? Medicare isn’t “free” and assertions that it is are meaningless. We are nothing special. Other advanced industrialized nations can deal with problems while providing services. The only truly special thing is the status of the dollar and English being a universal language. The idiocy about the debt “bankrupting our kids” is just that, idiocy. A government never was, isn’t and never will be the same as a household or a business.
Of far more concern are some of the following:
The status of the dollar as reserve currency Congress [censored] around with the debt ceiling and thereby the credit rating of the country The massive interconnectedness of the world in general and the impact when networks of all kinds, computer or human, shift The lack of resilience and adaptability by humans in multiple situations due to the interconnectedness including breakout diseases The rise of authoritarianism due to exploited populism
It's impossible to reason with them. Systemically programmed since childhood, they believe the garbage they spew. Having lost their old world, they cling to all the nonsense that brought us to this point like it's the gospel, yet everyone with half a brain can see that the right-wing guardians of the 1%ers fortunes lie year after year after year. The Trumpian GOP sometimes seems to live in fantasy land, believing the USA cannot afford these things that other major countries have had for decades. They would rather that money go to the elite in tax breaks or the MIC in a war budget of 3/4 trillion dollars annually. We missed the boat by not electing Bernie in 2016/2020. If he had been elected president, I believe our world would be very different right now.
There are now election deniers on every ballot in the country, and they are in positions of power that will allow them to steal an election this time around. However, old-school GOPers ignore it because they are becoming extinct and will accept anything to stay in power. It's so damn frustrating. Right-wing voters' ignorance makes it impossible to do what we need to get the country back on track. You shouldn't be allowed to vote if you can't see through the idiocy of someone like JD Vance, Desantis, Abbott, or Trump. They used to put up candidates with ideas, men of action, and people who actually cared about the country and governing it. Currently, I can't say that about a single Republican politician in DC. This ridiculous, hateful ideology of winning at all costs has all but destroyed us. Their predictions about civil war will come true if they do not stop. The right's fake patriotism is beyond my comprehension. Patriots wouldn't allow their party to pull the crap they've done since 2008. Shameful is an upgrade from their current behavior. "Vile boot-licking extremists" is about the best thing I can say about them as a party today. None of them plan to do a damn thing to help the working class in this country, not one. And if McCarthy becomes speaker, he is already promising to stop everything Biden wants to do while reversing everything he's done. Moreover, when we have Putin on the ropes, he'll end Ukraine's aid and hand him a big-ass win. You can't make this crap up! Idiocy.
Last edited by OldColdDawg; 10/21/2209:49 PM.
Your feelings and opinions do not add up to facts.
Now the President is poking the Saudi's in the ribs. That is going to do wonders at the pumps for sure...lol
This administration's miscalculations are going to thrust us in to a world war. If everything else has failed, might as well start a big war to make people forget.
That's what W did.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
If anyone pays for groceries, they know things aren't good. If they put gas in their car, they know things aren't good. If they have any type of retirement savings over $10,000, they know things aren't good.
And you are 100% correct. What many don't know is that it's a global issue all around the globe. Because the people they listen to don't tell them that. This isn't just an "American issue". Many are taught to look at things in a bubble. Their own situation at their level. What hits them personally. And as with every human being, they look to place blame. And every politician looks to help them blame their political opponents. For some reason they don't know or understand that the economy is based on global conditions. And all either party can do is put a band aid on a bullet wound. Our economy won't be great until other global economies also recover.
But people either don't know or don't care about that. It seems as though in your zest to blame democrats that you don't either. But your quote above will rule the day. We both know that votes in November will crush democrats. Because we're both old enough to know that people vote based on their wallets.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
The US stock market could fall into a decades-long bear market similar to Japan in 1989, according to hedge fund manager Boaz Weinstein. Weinstein told the Financial Times the Fed's quantitative tightening will drive the decline lower. "I'm very pessimistic. There isn't a rainbow at the end of all this," Weinstein said.
Hedge fund manager Boaz Weinstein is warning investors about the potential of a decades-long bear market that will plague US stocks, similar to the decline that Japan's stock market has been dealing with since 1989.
Japan's Nikkei 225 index topped out in 1989 and never recovered those highs, as an ageing and declining population has sparked concerns of how the country will grow into the future. The Nikkei is still 30% below its all-time high.
Weinstein, who runs the near $5-billion hedge fund Saba Capital, told the Financial Times that the Federal Reserve's quantitative tightening policies will drive big declines in asset prices. In other words, don't fight the Fed.
"I'm very pessimistic. There isn't a rainbow at the end of all this. [Quantitative tightening] is going to be a real headwind for investors," Weinstein told the FT.
Weinstein is zeroing in on the Fed's plans to reduce its near-$9 trillion balance sheet, which expanded considerably since the 2008 financial crisis and the onset of the COVID-19 pandemic as a series of quantitative easing measures were implemented to shore up liquidity in credit markets.
But now the Fed is on track to reduce its balance sheet by $95 billion per month, rolling off a combination of its treasuries and mortgage-backed securities holdings. And that will serve as a headwind as the Fed sells its bonds into the market, essentially sucking liquidity out of financial markets.
"There's no reason that this difficult [economic] period will only last two to three quarters [and] ... no reason to think we'll have a soft landing or a shallow recession," Weinstein said.
The Fed is still hoping for a soft landing even as it moves forward with more interest rate hikes, with the central bank highlighting in its September meeting minutes that the labor market still remains strong, with the unemployment rate sitting near multi-decade lows.
But Weinstein isn't holding his breath, telling the FT that developed stock markets like the US "could certainly" follow the path of Japan's Nikkei 225.
"That changed the psychology about whether being a stockholder is such a prized status," Weinstein said.
Now investors have to grapple with a lot of headline risks, including Russia's ongoing conflict in Ukraine, a slowing economy in China, and rising inflation and interest rates.
The hedge fund manager is holding onto credit default swaps as insurance against further equity losses, as he believes a recession will ultimately lead to corporate defaults and widening credit spreads.
"In this sell-off you have so many things that are problematic swirling around, some that are contradictory. There's a lot of fear, but there's been a lot of time for people to think about [the issues]," Weinstein said.
Blocking those who argue to argue, eliminates the argument.
You need to hold them at least 1 year. If you sell them in under 5 years you lose the last 3 months interest.
The rate gets adjusted every 6 months - it is a combination of a fixed rate plus the inflation rate. So if you buy now you get 9.62% guaranteed for 6 months then it gets readjusted based on the inflation rate.
The max you can purchase in 1 calendar year is $10k with some wanky exceptions: You can purchase more if you use your tax returns to buy them, or if you put them in a trust and a couple other exceptions that I don't recall off the top of my head
Don't blame the clown for acting like a clown. Ask yourself why you keep going to the circus.
Right. The new I bond rate will drop to (predicted) 6.47%... making the actual annual rate just over 8%. I'm sure it will keep dropping. Once it gets below 3-4% I'll wait three months into the reset and cash them in. My wife and I both maxed out in May and made our son throw 10G into one as well (we didn't have to twist his arm).
I know many people make a lot more on their money, but 8% at no risk is basically a no-brainer.
gop wins the midterms, tries to pass a bill cutting SS and medicare, and all the people who voted for the GOP will come out and act shocked and angry about the fact that the republicans are trying to cut SS and medicare as if they didnt expect the republicans to actually follow through on it.
it was the same thing with obamacare. all these republican voters were all for the republicans cutting obamacare when the gop won in 2016, only to then get upset and throw a hissy fit when they found out that obamacare and the ACA is literally the same thing.
if the GOP wins in the midterms, im not gonna feel bad for anybody on SS or medicare that voted republican. if you lose your benefits, thats on you. im not gonna feel bad, i wont show empathy, im just gonna laugh in your face. you vote for your own demise, dont whine when it actually comes.
“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
GOP talking about cutting taxes for the wealthy again. but conservatives swear up and down the 2017 tax cuts didnt contribute to the issues we got going on now. so lets double down on trickle down economics.
we're gonna cut SS, medicare, and other domestic spending, increase military spending even though we don't really wanna to spend more defending ukraine, reduce individual rights by taking away autonomy over one's own body, and move the country more to christian nationalist-style social policies.
i believe the GOP is gonna run through the dems in the midterms.
and guess what? the suicide rates will climb, birth rates will drop even though we got a slight pandemic bump, country will be more divided, and we'll be more isolated.
but all that doesn't matter as long as we get a bump in our stock market gains!! my portfolio's gonna be looking niiiiiiice even though it will be pain all around the country. cause those gains are whats most important in life, right republican voters?
money over anything else.
“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
Correct me if I am wrong, as I don't follow a lot of news these days, but what I had read was that they wanted to move it from a dedicated fund to the general budget.
Now that has it's own issues, but if that is true and everyone is pushing the narrative "Cut SS and Medicare", but that's not what is truly happening, then it's mis-information being passed around.
We don't have to agree with each other, to respect each others opinion.
I agree with you as it pertains to the moment at hand. But what that does is move it to the general fund where it's not protected. This opens the door for being defunded or cuts in the future which can not be done as of now.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
I agree with you as it pertains to the moment at hand. But what that does is move it to the general fund where it's not protected. This opens the door for being defunded or cuts in the future which can not be done as of now.
Agreed, it has it's own issues, as I stated.
I just disagree with mis-representing things (From either side) to get people worked up. They could easily state what is really proposed, and how that is bad, but that wouldn't get the same emotional response.
We don't have to agree with each other, to respect each others opinion.
Here is my take- if GOP wins....and the party NOT in power normally does- add in inflation/ general high cost of basic things- gas, food, housing- then GOP wins. Then they DO what they have quietly said they'll do- hold the nation debt/ the budget hostage to cuts in SS/Medicare....what do you think will happen to the STOCK MARKET---say hi to 1929. Biden trying to hide a recession- lots of Americans have their savings in stock market- trying to GROW- a large drop lasts for decades. Democrats better beat the bushes and get the turn out way higher than normal....like betting on Browns going to SB.
"You've never lived till you've almost died, life has a flavor the protected will never know" A vet or cop
Correct me if I am wrong, as I don't follow a lot of news these days, but what I had read was that they wanted to move it from a dedicated fund to the general budget.
Now that has it's own issues, but if that is true and everyone is pushing the narrative "Cut SS and Medicare", but that's not what is truly happening, then it's mis-information being passed around.
Their end goal is to raise eligibility to 70 or 72 I believe, as well as do away with a lot of things that allow people to qualify for and draw disability. And yes, they also want dollar amounts cut.
I can't find the article, but one of the red state reps was quoted saying too many getting a free ride in this country, if you can fog a mirror you can find work. He was talking about disability and people under 67.
Last edited by OldColdDawg; 10/26/2209:25 PM.
Your feelings and opinions do not add up to facts.
Share By Jessy Bains, Editor at LinkedIn News Updated 11 minutes ago
The U.S. economy snapped a losing streak, returning to growth in the third quarter. Gross domestic product rose 0.6%, fueled by volatile exports. While the 2.6% annualized pace of growth from July through September beat economists’ expectations, a core gauge of demand that strips out trade and inventories increased 0.5% — one of the lowest readings of the pandemic. Faster inflation, rising interest rates and a deflating housing sector are expected to weigh on consumer spending, the leading engine of growth, in coming months.
The preliminary, third-quarter reading follows two consecutive quarters of contraction that met a commonly accepted definition of recession. New jobless claims, a proxy for layoffs, rose slightly to 217,000 last week, still near pre-pandemic lows of 2019.
*The main event: while the GDP report was mostly positive, residential investment fell 26% - the largest pullback since the Global Financial Crisis.
*GDP is up because the entire increase is related to U.S. exports of oil, gas, and weapons. - if the war ends, we could be in big trouble.
Blocking those who argue to argue, eliminates the argument.
US exports record oil volumes as fuel price tensions build Shipments of crude and products top 11mn b/d as industry warns over restrictions
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he US is exporting record volumes of oil and taking on a bigger role as a fuel supplier in response to the global energy crunch caused by Russia’s war in Ukraine, even as tensions flare over petrol prices at home.
Combined US exports of crude oil and refined petroleum products surged to 11.4mn barrels a day last week, according to data released on Wednesday by the Energy Information Administration, the most ever reported.
The shipments were almost 2mn b/d higher than the previous week and came despite oil companies facing pressure from Washington to send less fuel abroad and build domestic stocks as president Joe Biden’s administration tries to curb prices at the pump ahead of critical midterm elections.
Buffeted by high prices, the White House has refused to rule out controls on fuel exports. Energy secretary Jennifer Granholm wrote to oil refiners in August calling on them to build stocks of fuel to avoid “additional federal requirements or other emergency measures”.
The prospect of curbs on exports re-emerged after the Saudi Arabia-led Opec+ oil cartel recently cut production. The Biden administration said last week “all options” remained on the table to “ensure domestic supply”.
Export controls would risk angering countries that depend on US supplies. Oil companies have warned that any ban on refined product sales could increase domestic fuel prices and “alienate US allies during a time of war”.
The US has become a crucial supplier to global energy markets since the shale drilling revolution transformed production from its oil and gasfields more than a decade ago.
Its importance has grown as Opec+ announced cuts to production and the EU implements an embargo on Russian crude later this year in response to the war.
The US continues to be a large oil importer, with inbound crude shipments averaging 6.2mn b/d last week from countries including Canada and Saudi Arabia, some of which will be exported again after it is refined into petrol or diesel.
US exports of crude were 5.1mn b/d a day last week, a record level, according to the EIA. For refined products the figure was 6.3mn barrels a day, shy of a record 7mn b/d earlier this month.
Biden said last week he was doing “everything in [his] power” to bring down the price of petrol, which hit record levels this summer. It has since fallen sharply, but at $3.76 a gallon, remains more than 60 per cent higher than when he took office.
At $5.32 a gallon, the price of diesel, used to power industry, has not fallen as sharply from its peak and is about double its level when Biden entered the White House. US inventories of distillate, which includes diesel and heating oil, were 106mn barrels last week, about a fifth lower than the five-year average.
Biden has ordered his officials to prepare for more releases from the country’s Strategic Petroleum Reserve as a record drawdown announced in March comes to an end. The SPR releases and rising exports have taken petroleum stocks to about 1.6bn barrels, their lowest since 2005, raising concerns about US preparedness in case of massive supply disruptions.
Blocking those who argue to argue, eliminates the argument.
Share By Jessy Bains, Editor at LinkedIn News Updated 11 minutes ago
The U.S. economy snapped a losing streak, returning to growth in the third quarter. Gross domestic product rose 0.6%, fueled by volatile exports. While the 2.6% annualized pace of growth from July through September beat economists’ expectations, a core gauge of demand that strips out trade and inventories increased 0.5% — one of the lowest readings of the pandemic. Faster inflation, rising interest rates and a deflating housing sector are expected to weigh on consumer spending, the leading engine of growth, in coming months.
The preliminary, third-quarter reading follows two consecutive quarters of contraction that met a commonly accepted definition of recession. New jobless claims, a proxy for layoffs, rose slightly to 217,000 last week, still near pre-pandemic lows of 2019.
*The main event: while the GDP report was mostly positive, residential investment fell 26% - the largest pullback since the Global Financial Crisis.
*GDP is up because the entire increase is related to U.S. exports of oil, gas, and weapons. - if the war ends, we could be in big trouble.
Obama is to blame for allowing exports of oil and gas. Can't help but wonder where the economy would be if that was NOT allowed as it used to be.
Your feelings and opinions do not add up to facts.
Biden will tell other countriez to juzt make more oil and give it to the Us for lower cozt. Do it. Or he will call them a rotten name. like a turkey soldier. "have you ever been an iowa caucus"
Can Deshaun Watson play better for the Browns, than Baker Mayfield would have? ... Now the Games count.
Share By Jessy Bains, Editor at LinkedIn News Updated 11 minutes ago
The U.S. economy snapped a losing streak, returning to growth in the third quarter. Gross domestic product rose 0.6%, fueled by volatile exports. While the 2.6% annualized pace of growth from July through September beat economists’ expectations, a core gauge of demand that strips out trade and inventories increased 0.5% — one of the lowest readings of the pandemic. Faster inflation, rising interest rates and a deflating housing sector are expected to weigh on consumer spending, the leading engine of growth, in coming months.
The preliminary, third-quarter reading follows two consecutive quarters of contraction that met a commonly accepted definition of recession. New jobless claims, a proxy for layoffs, rose slightly to 217,000 last week, still near pre-pandemic lows of 2019.
*The main event: while the GDP report was mostly positive, residential investment fell 26% - the largest pullback since the Global Financial Crisis.
*GDP is up because the entire increase is related to U.S. exports of oil, gas, and weapons. - if the war ends, we could be in big trouble.
Obama is to blame for allowing exports of oil and gas. Can't help but wonder where the economy would be if that was NOT allowed as it used to be.
Especially since we have Gas shortages all up and down the east coast.
Meanwhile... we are just exporting away and keeping our fuel prices inflated.
Gasoline Shortage on US East Coast Is Latest Fuel Supply Crisis Chunzi Xu Wed, October 26, 2022 at 11:28 AM·1 min read
Gasoline Shortage on US East Coast Is Latest Fuel Supply Crisis (Bloomberg) -- The fuel crisis on America’s East Coast is deepening as terminals running low on diesel are now down on gasoline, too.
“Numerous” terminals are out of gasoline and ethanol over the past 72 hours due to various supply delays, according to distributor TAC Energy. Rallying futures show the reason “is more short squeeze caused by a variety of disruptions in supply, rather than an expectation of strong gasoline demand,” TAC wrote in a note.
The prompt-month gasoline spread surged above 30 cents a gallon on Tuesday in a worrying repeat of the market structure that precipitated the still-unfolding diesel shortage on the East Coast: Prompt deliveries are worth a lot more than longer-term ones, which incentivizes suppliers to sell now instead of building inventory.
Gasoline stockpiles on the East Coast have dwindled to their lowest seasonal level on a calendar basis since 2007, according to Energy Information Administration data released Wednesday. The US region relies on Europe for gasoline imports, particularly during crunch times. Europe has not been sending as much recently as the continent grapples with its own energy crisis.
East Coast shortages have worsened at a politically sensitive time: Voting has begun in midterm elections where fuel costs, a major driver of historic inflation, are a top issue for many deciding if Democrats will maintain control of Congress.
Blocking those who argue to argue, eliminates the argument.
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