DawgTalkers.net Forums DawgTalk Palus Politicus The economy again…

j/c.

The economy. It's going so great, according to some.

Just finished my 4th best year in business - gross wise. It will be one of my lower years, net. And I've been doing what I do for 21 years.

Just today found out between property taxes and my home and auto insurance - $1,700 increase. Per year. That does not include any business insurance.

Read that again: Personal insurance (no tickets etc) and property taxes. Just under $1700 in increase.

Forget about groceries, etc.

But, yeah, inflation doesn't hurt, right?

My work expenses for last year? Up $8,000.

Wow that's a bad look. I obviously rail on Trump and his wing of R's for a myriad of reasons, but this is the kinda "Old Washington" crap that still exists and just infuriates me. Sometimes I think it is more enabled these days because there's a bigger lightning rod. Still irks the hell out of me, though. At some point, I would really like to clamp down on the corrupt Washington aristocracy.

Maybe I'm just mad because I should have moved to Martha's Vineyard, like I wanted to, rather than to oober's cess pool

If you watch any left leaning news program , show, whatever, they can’t stop talking about how great everything is. Economy is great. Biden has had the greatest three years of any president.

Apparently you haven’t gotten the memo.

No matter which side is in charge neither one keeps social security up to pace with inflation. As I have said for years both sides suck.

When you have one side hoping for a recession, that really sucks as well.

That is something that bothers me. Grassley basically came out and said the quiet part out loud. They don't want to do anything that would help Biden look good, even if it were to benefit the country, and you know a lot of them are like "Please let there be a recession! Please, please, please!"

Obtaining power is more important than the state of the country.

353,000. + US jobs added in Jan. 3.7% unemployment…yeah wow…Biden really sucks.

SO do you blame biden for that? If so, how?

Of course he blames Biden. He doesn’t understand when home and auto replacement values increase so does insurance rates. Also he doesn’t understand that inflation was inevitable after a global pandemic. Supply chain issues. Housing prices skyrocketed nation wide. Manufacturing and goods just cost more. And then we still have many companies gouging US. Thankfully Biden got US on a soft landing with the economy on the edge. GOPers will never give him credit for squat. It’s a revenge thing.

Did I mention Biden?

My post was relative to the thread. The economy is good? Okay. Inflation is eating up any gains for the majority.

J/c

Spending excessive money on extraneous garbage and things that are going to need to almost instantly be replaced make "big picture" economic numbers look good. Unfortunately, pumping up numbers hide systemic problems. "We" seem to spend money just to spend money so the numbers look good.

We're the most wasteful, short-sighted, overcompensating, bait and switching country in the world. So many of our systems are inherently exploitative. We produce well marketed junk. "We" "sell" BS stories.

We're a nation of insatiable consumers trying to fill the emptiness of modern "life." We mass produce high calorie, low nutrient foods. We design our products to need replaced. We produce treatments rather than cures. We sell dreams and escapism (booze, narcotics, gambling, "sport.") Corporations and politicians bank on inflated egos, which we have in super-sized abundance.

Bleh....

The guy who deserves NO BLAME for anything? The guy who's border policies have caused the greatest disaster in history -- and yet are still defended?

Deserves credit? We've been told for over three years NONE of things are his fault...

Now: "Biden got US on a soft landing with the economy on the edge."

‘WHOPPER!’ CNBC Anchor Stunned Over Hot New Jobs Report — ‘HUGE JUMP’ In Pay
Tommy ChristopherFeb 2nd, 2024, 9:04 am
1366 comments


s
CNBC anchor Rick Santelli gushed over a January jobs report that he described as a “WHOPPER” that blew away expectations and featured a “HUGE jump” in average hourly wages.

On Friday morning, the Bureau of Labor Statistics released a January jobs report that saw 353,000 jobs added, well above expectations:

Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas extraction industry.

Economists predicted that the economy would gain 185,00 jobs in the January survey, but at 8:30 on Friday morning, the actual report blew past that figure.


On Friday’s edition of CNBC’s Squawk Box, a stunned Santelli broke the news:

ANDREW ROSS SORKIN: I’m going to send it over to our good friend Rick Sanchez. Rick Santelli, who has got the number in just two seconds. Rick.

RICK SANTELLI: That’s a couple of seconds. The first jobs report jobs, job jobs of ’24 is out and it is… WHOPPER!

353,000 353,000. We have to go on the Wayback Machine! That is the biggest nonfarm payrolls gains since January of 23, when it was 472,000.

And if we look at the unemployment rate, it is 3.7. It’s remained at 3.7. And just for history’s sake, the 3.4 low that we had was the lowest since 1953. That was in April of last year.

If we look at the average hourly earnings, a HUGE jump, up, 6/10 of a percent, up 6/10 of a percent. It equals March of ’22. To find a higher number, you have to go to January of ’22.

And also for some context there, the amount of year over year is also popping 4.5%. We are expecting 4.1 the year over year. Average hourly earnings began as a data set in 2007, pre-COVID, all the way to when it started, the high was 3.6. It’s 4.5. 4.5 was the highest level going back to February of 23.

I'd have to guess that increasing depression rates have some connection to the steady unemployment rate. People are just done with the government/everything and aren't reporting.

What’s a depression rate?

This is what it looks like when GOPers get all butt hurt that Biden’s economy is working. They can’t admit when someone they don’t like has done a good job on something like the economy. Then they eventually turn around and take credit for it themselves. Watch it happen. pffft GOPers.

Who is saying it's been "a great three years"? I'll tell you who, nobody. This is what it sounds like when people just spew BS. It's gotten a lot better and keeps getting better. That's what you're being told and that's because facts matter...... to some people.

GOPers getting depressed that they have to act like everything’s bad all the time, even when any idiot can see the economy is humming right along and continuing to trend UP. That’s my best guess. I imagine living Trumpian lies would take a toll on anyone’s sanity.

Biden fixed Trump’s mess, but GOPers forget that and blame the mess on dems and Biden. Hell, many of them think Biden started the lockdowns… Imagine not living in reality like that… pathetic.

And currently, GOPers won’t do anything good for anyone because they are afraid Biden will win again. Imagine making your constituents suffer poverty because you don’t want the other side to send out checks before the election, like Trump did…. Only this was just going to be the child tax credits that lifted most kids out of poverty during the pandemic. I won’t see a cent, but I think it’s good for America to help the working class. So, I’m fine with it.

https://www.cnn.com/2022/09/09/politics/biden-republicans-infrastructure-law/index.html

CNN
—
President Joe Biden on Thursday criticized Republican lawmakers who voted against the bipartisan infrastructure bill last year but have taken credit for projects made possible by the $1.2 trillion law.

“We got a little help from Republicans – but not a lot – but enough to get it passed. But the truth is, there are a lot more Republicans taking credit for that bill than who actually voted for it,” Biden said at a Democratic National Committee reception in Maryland, another stop for the President as he picks up his campaigning less than two months ahead of the midterm elections.

“I see them out there, ‘And now we’re going to build this new bridge here, we’re all for it. And by the way, this new road, and we’re going to have an internet that going to be all the way,’ the President said, changing his tone of voice for his impression of the Republicans. “I love them, man. They ain’t got no shame.”

GOPers actually believe Biden handed out all the stimulus checks.

Bro you know If Trump was in office with the SAME number, the GOP wouldn’t shut up about how great the economy is doing post-COVID.

That’s why I don’t take conservatives seriously, amongst a bunch of other reasons. Conservatives love saying “it’s the economy, stupid” right until the economic numbers look good under a Dem, then it’s “well, it’s different this time”.

Blah blah blah

Kinda like how one President might tout the stock market during their administration and then complaining that it "just makes rich people richer" when it does well in a follow-on administration?

Exactly like that.

Inflation is still killing those of us on fixed incomes. and yes I still blame both sides since they act like three year old children fighting instead of working for this country.

is it inflation or Greed

Get a job. That’s what I’ve been told here on many occasions. Biden’s economy is fine and with the unemployment rate at 3.7 shows there are plenty of good paying jobs out there to be had to keep up with the inflation that has slowed quite a bit. So both sides aren’t fighting about the economy. It’s just the far right is all butt hurt that the economy is doing fine under Biden.

link

Those are depression rates.

Trump, Biden, Obama, Bush-- I don't care who you give credit for it, the US economy is and has been a lousy system for a long time. It's not fine. It's still an expoitative mess. The numbers the government puts out to make themselves look good are unsurprisingly "good." Take out the top 10% of "earners" and the numbers go to [censored]. The lowest 50% of earners only own(ed) 2.6% of the total wealth. (link) Half the people in the country are stuck fighting over scraps, and systems were designed to keep them there. Yes, people can "get out," but they more or less have to be willing to screw most everyone else over.

Both. And the system promotes and incentivizes them.

And at this point even blatant collusion seems perfectly acceptable.

One drives the other.

The economy is not going great for those on fixed incomes.

I'm doing just fine. Our investments keep us chugging right along..

That's great for you, but that's kinda like rubbing [censored] in someone's face. Those on a truly fixed income can't keep up with the price of bread... they'd rather not hear people touting a bullish stock market as a great economy. j/s

My investments and savings were eaten up by all the medical bills and inflation. I also know a lot of hard working folks who didn't make a lot of money over the years and have to live off of their social security.

I’ve heard from GOPers here, there is something those on fixed incomes can do. “Get a job.” Not trying to be rude but that’s the attitude I see from the right. They say SS wasn’t meant to support 100% of your retirement. So not being prepared for that eventuality is kinda short sighted.

Kinda ironic because GOPers have been complaining about handouts to the poor for…well forever. Now the shoe is on the other foot and the handouts just can’t keep up for them now.

"Irony" still doesn't buy the bread. It's your side touting a great economy, you're supporting that by calling the other side 'meanies'?