DawgTalkers.net Forums DawgTalk Palus Politicus The economy again…

Eggs do cost 8 bucks per dozen if you want pasture raised chickens laying them recently (fresh)

If you want old eggs from chickens in a cage they will cost less.

I get a dozen for $2 from my neighbor. Fresh, laid by her hens. Brown eggs, also, as I think those are the best.

Oh so your the one buying up my egg whites lol

https://www.cnn.com/2024/01/25/economy/fourth-quarter-gdp/index.html

US economy grew at a shocking pace in the fourth quarter

Shocking!!!!! For trump and his chicken littles. Lol. Democrats building the economy for the Republicans to trash once again.

Funny how GOPers all of a sudden don’t want to talk economics. Back to the border and the wall Mexico paid for. right GOPers?

What was the GOP mantra?
Check your 401k or something like that

Well, if I was the left, I'd say you were both 'marginalizing' the effect of inflation on poor people right now.

You think any of the poor and underserved are enjoying the surge in the stock market?


Times get tougher, the rich get richer and you two are celebrating at the expense of the poor.

Racist.

No kidding not hearing that are we. Smilingly checking my 401k now.

I’m by no means rich or laughing at the poor like what GOPers have been doing for years. Biden has proved he can run this economy and showed inflation was a temporary backlash of a global pandemic. While right wing Goper conservatives in Congress can’t even pass a budget to pay the bills they ran up. Pffft.

"Temporary backlash??"

Again, tell the poor all this is (still) temporary.

All those people trying to buy as house, with the prospects of paying triple? All those families struggling to buy a car, but the payment is too high because of the interest rate?

Tell them your 401K is doing great.

I can't remember who brought it up - I think it was Jester - but I can't imagine Biden taking off and from day one - before instituting any policies - being solely responsible for the skyrocketing that is shown on that chart above. I do think that some of his free-money dole outs during COVID did not help the problem, and it was more irksome that a lot of those dole outs were manipulated by the wealthy corporations (e.g. Shake Shack getting small business funds).

However, I think it's fair to say there are indicators leading to things done during the prior administration. When we're cutting both taxes and increasing debt, while keeping interest rates insanely low, that will come to a head at certain points. Combine that with a few other factors, and we see the resulting inflationary pressures. You might even be able to harken it back to pre-2017 policies put in place.

I liken it to the 2008 Financial Crisis. Bush happened to be in office when the bottom fell out, but he wasn't the one who instituted the dole-out of mortgages to people who had no business actually having them.

Basically boiling things down to correlation vs causation.

Auto makers are offering anywhere feom 0.9% to 4.9% rates at this very moment. Several of them are. But then you knew that when you posted that drivel.

Home mortgage rates are already on the decline and more rate cuts expected next year.

Where is Clem with his "Stop Making sense" album cover when you need it?

Already on the decline? Like the border numbers last October??

Can't make this stuff up.

Sure, but all of that requires actual thought.

I'm responding to this kind of mindless crap:


And this:


So, I'm curious as to where you thought I was blaming Biden for all the inflation?

In the past... I've blamed the administration for some of it's decisions in attempting to curtail it. But more, much more, I've blamed them for acting like it doesn't exist, saying it was going to quickly go away, blaming it on others, accepting no responsibility, and then telling people it really wasn't a big deal by saying their Thanksgiving dinner was down 38 cents year over year. And you know, dismissive statements like "buy an electric car" in relation to gas prices.

ECONOMY
The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back
PUBLISHED THU, JAN 25 20248:30 AM ESTUPDATED 2 HOURS AGO
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Jeff Cox

GDP, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth quarter of 2023. Wall Street had been looking for a 2% gain.
The U.S. economy for all of 2023 accelerated at a 2.5% annualized pace, well ahead of the Wall Street outlook at the beginning of the year for few if any gains and better than the 1.9% increase in 2022.
A strong pace of consumer spending helped drive the expansion, as did government spending.
There also was progress on inflation. Core prices for personal consumption expenditures rose 2% for the period, while the headline rate was 1.7%.

The U.S. economy grew at a 3.3% pace in the fourth quarter, much better than expected
The economy grew at a much more rapid pace than expected while inflation eased in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday.

Gross domestic product, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth quarter of 2023, according to data adjusted seasonally and for inflation.

That compared with the Wall Street consensus estimate for a gain of 2% in the final three months of the year. The third quarter grew at a 4.9% pace.


In addition to the better than expected GDP move, there also was some progress on inflation.

Core prices for personal consumption expenditures, which the Federal Reserve prefers as a longer-term inflation measure, rose 2% for the period, while the headline rate was 1.7%.

On an annual basis, the PCE price index rose 2.7%, down from 5.9% a year ago, while the core figure excluding food and energy posted a 3.2% increase annually, compared with 5.1%.

The two components together added up to “supersonic Goldilocks, because it’s really a strong number yet inflation hasn’t shown up,” said Beth Ann Bovino, chief economist at U.S. Bank. “Everybody wanted to have fun. People bought new cars, a lot of recreation spending as well as taking trips. We’ve been expecting a soft landing for some time. This is just one step in that direction.”

The U.S. economy for all of 2023 accelerated at a 2.5% annualized pace, well ahead of the Wall Street outlook at the beginning of the year for few if any gains and better than the 1.9% increase in 2022.

As had been the case through the year, a strong pace of consumer spending helped drive the expansion. Personal consumption expenditures increased 2.8% for the quarter, down just slightly from the previous period.

State and local government spending also contributed, up 3.7%, as did a 2.5% increase in federal government expenditures. Gross private domestic investment rose 2.1%, another significant factor for the robust quarter.

The chain-weighted price index, which accounts for prices as well as changes in consumer behavior, increased 1.5% for the quarter, down sharply from 3.3% in the previous period and below the Wall Street estimate for a 2.5% acceleration.

“This year has been like Rock ‘Em Sock ‘Em Robots, and the economy is knocking the blocks off the economists, always outperforming,” said Dan North, senior economist with Allianz Trade Americas. Fed Chair Jerome Powell “has got to have a smirk on his face this morning. Again, he’s defying the economists’ predictions with strong growth and inflation clearly coming under control.”

Markets showed only a modest reaction to the report. Stock futures gained slightly while Treasury yields moved lower. Futures markets continued to reflect the likelihood that the Fed will enact its first rate cut in May, though the CME Group’s FedWatch gauge put the odds of a March cut at 47.4% around 10 a.m. ET.

“It was a great report, but you didn’t see the market move much because GDP is backward-looking. It told us what happened in October and November and December,” North said. “It’s great for historical patterns, but it doesn’t really tell us much about where we’re headed.”

In other economic news Thursday, initial jobless claims totaled 214,000, an increase of 25,000 from the previous week and ahead of the estimate for 199,000, according to the Labor Department. Continuing claims rose to 1.833 million, an increase of 27,000.

The GDP report wraps up a year in which most economists were almost certain the U.S. would enter at least a shallow recession. Even the Fed had predicted a mild contraction due to banking industry stress last March.

However, a resilient consumer and a powerful labor market helped propel the economy through the year, which also featured an ongoing pullback in manufacturing and a Fed that kept raising interest rates in its battle to bring down inflation.

As the calendar turns a page to a new year, hopes have shifted away from a recession as markets anticipate the Fed will start cutting rates while inflation continues to drift back to its 2% goal.

Concerns remain, however, that the economy faces more challenges ahead.

Some of the worries center around the lagged effects of monetary policy, specifically the 11 interest rate hikes totaling 5.25 percentage points that the Fed approved between March 2022 and July 2023. Conventional economic wisdom is that it can take as long as two years for such policy tightening to make its way through the system, so that could contribute to slowness ahead.

Other angst centers around how long consumers can keep spending as savings dwindle and high-interest debt loads accrue. Finally, there’s the nature of what is driving the boom beyond the consumer: Government deficit spending has been a significant contributor to growth, with the total federal IOU at $34 trillion and counting. The budget deficit has totaled more than half a trillion dollars for the first three months of fiscal 2024.

There also are political worries as the U.S. enters the heart of the presidential election campaign, and geopolitical fears with violence in the Middle East and the continuing bloody Ukraine war.

https://www.cnbc.com/2024/01/25/gdp...3percent-pace-in-the-fourth-quarter.html

Mortgage rate decline pulls buyers back into the housing market

Published Mon, Jan 8 202412:10 PM ESTUpdated Mon, Jan 8 202412:14 PM EST

The spring housing market might be getting underway a little early this year.

A recent slide in mortgage rates pushed buyers back into the market.

Supply is still tight, but more houses could soon be available.

https://www.cnbc.com/2024/01/08/mor...buyers-back-into-the-housing-market.html

Officials penciled in three rate cuts for 2024, according to their latest economic projections released in December, but markets are pricing in double that amount, beginning as soon as March. “It'll be somewhere in between,” Maxime Darmet, a senior economist at Allianz Trade, told CNN.Jan 2, 2024

https://www.cnn.com/2024/01/02/economy/interest-rate-cuts-inflation-fed-2024/index.html

And yet you keep making stuff up.

Perhaps I was just myopically looking at the chart. I certainly didn't mean to make this about you and where you were blaming things. More just the notion that the chart inferred Biden's culpability on inflation using that line graph. That hasn't necessarily been yours - but much of the Conservative (Big C) ire when it comes to blaming Biden. He is culpable for a lot of things - yes, but you get my greater point.

As far as the posters, I like what Jester posts, as I like what you post. I think the point Jester was making was taking the words of what certain GOP politicians were asserting and then holding them accountable for saying those things when the opposite happens. We all do that to some degree when it comes to politicians we loathe.

On the other hand, Perfect trolls. You know that.

https://www.npr.org/2024/01/25/1225...-record-half-all-u-s-renters-study-finds

Housing is unaffordable for half of US renters.

And you said I was butt hurt! LMAO

I know it's not your forte, but try reading. I said "if I was the left".

Three sentences, no big words, same results as always.

I know it makes you butt hurt that the economy under Biden is doing so well. #conservativetears

FYI…They are renting. That’s housing.

I know right.lol. All of a sudden GOPers all concerned about the poor getting their handouts now. You know after the last administration cut taxes to the bone from the rich that could have helped the poor. What a switch now since they see bidenomics is working. “Oh the poor now” like they give any craps. What a bunch of hypocrites. When they loose this argument they will switch to the Border issue

Another one that can't read...

Yeah Ok..#Bidenmustfailfanboy

Lol. He doesn't need any help from me.

#abjectfailureworstpresidentinhistory

Lol. Meanwhile, Biden has the U.S. economy growing at a blistering 3.3% pace in Q4 while inflation pulled back. Yeah the worse. And what does the GOP leading candidate want? Another recession. How does that square. pfft GOPers.

I'll just start with Herbert Hoover and we can go from there.

From when the market was booming under Trump. Let me know if y'all hypocrites want more, there's pages...

Which is no different than it is now. It's doing great for some people and not so great for other people. But inflation being down is good for everyone. The strongest job market in decades is good for everyone. Consumer confidence in spending is good for the entire economy which impacts everyone. Wages now outpacing inflation helps everyone. Home mortgage rates being on the decline is good for the housing market and home buyers. So in some respects you are correct. In some respects you purposefully fail to mention the ways in which this economy is getting better that works to help everyone.

Ahhh.... I'm the one "purposefully failing to mention things". It's weird how everyone can make blanket generalizations but I need clarifications, citations, chart, graphs and disclaimers... I'll have to work on that.

Either you addressed the economic indicators that helped everyone or you didn't. And since you didn't there are there must be a reason or reasons why not. I gave you basic indicators that help everyone while your claim all along is that the economy isn't helping the poor. I pointed out it actually is. Blaming me for that doesn't really help the argument you've been trying to make but I understand why you would try and use such a feeble tactic at this juncture.

They can't afford their rent.

I am happy my investments are doing so well. But I'm not ignorant enough to think that the massive inflation and screwed up housing market aren't hurting poor people. Not everybody is well off.

Mortgage rates are on the decline. Wages are outpacing inflation and inflation has decreased substantially. You really don't read anything do you?

Yes. They are down 1% off their 21 year high.

They're still nearly triple what they were in 2022.

You can't buy a house around here. All the real estate companies buy up the houses and rent them out at outlandish prices. Even new house developments are only renting.


And your inflation statement is laughable. It has not decreased anywhere near the amount it increased the last few years. Prices are still way up on everything.

But keep being gullible and easily lead by the libtard media.

Fate beat me to it!