Economic News Thread | Consumer Confidence declines

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“… Treasury Secretary Scott Bessent argued this week that tariffs will have only a transitory impact on inflation as they are merely a “one-time price adjustment.” But the Fed has recently been burned by assuming short-term price shocks would prove “transitory.” As the U.S. has painfully learned, these shocks can have long-lasting effects. Higher prices for car parts, for instance, can keep auto insurance rates elevated for years.“

 
nycfan said:
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“… Treasury Secretary Scott Bessent argued this week that tariffs will have only a transitory impact on inflation as they are merely a “one-time price adjustment.” But the Fed has recently been burned by assuming short-term price shocks would prove “transitory.” As the U.S. has painfully learned, these shocks can have long-lasting effects. Higher prices for car parts, for instance, can keep auto insurance rates elevated for years.“

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Chaos is no way to run a business, much less the largest economy in the world.

season 3 chaos grenade GIF by Billions
 
Maria Bartiromo used to be relatively sane and civil back when she was a host on CNBC for several years. I honestly did not know her political leanings and it never really showed.

Once she went to Fox, became a cultist, and began worshipping the fraud criminal fake messiah, she became totally unhinged.

She has become erratic, schizo, illogical, bitter and angry, with bouts of rage, and generally unhinged. I'm not sure what meds she is on, but they are the wrong ones or not taking. Or perhaps there is just no cure for the power, idiocy, and pull of the cult.
 
Purple Nurple said:
Well yeah, when the government spends less, there’s going to be an adjustment period.
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That's never been true before now. If you cut with a scalpel, the labor market will absorb the workers. If you cut with a phase-in over time, agencies and workers can adjust.

If you instead take a wrecking ball to the whole thing, yeah there's going to be an adjustment period. It's called a recession. And that's why you don't use a wrecking ball.

Detox period. What a bunch of fucking clowns. I guess they do collectively have lots of experience dealing with alcohol and drug addiction.
 
Kraftyheel89 said:
Maria Bartiromo used to be relatively sane and civil back when she was a host on CNBC for several years. I honestly did not know her political leanings and it never really showed.

Once she went to Fox, became a cultist, and began worshipping the fraud criminal fake messiah, she became totally unhinged.

She has become erratic, schizo, illogical, bitter and angry, with bouts of rage, and generally unhinged. I'm not sure what meds she is on, but they are the wrong ones or not taking. Or perhaps there is just no cure for the power, idiocy, and pull of the cult.
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There was a movie with Denzel Washington a few years back, about an evil spirit who would inhabit people's minds and make them do terrible things, before then jumping out of one host and into another.

That's what happened with Jeannine Pirro and Maria B.
 
Powell’s remarks while I was at lunch seem to have calmed things a bit. But Trump seemed determined to quash that with comments about more tariffs on those evil bastards in Canada.
 
Cliff Assness is a GOPer btw. The opening line to his piece, "I've been managing money for 33 years with some modest success" is meant as a hilarious understatement. He's been running one of the largest hedge funds in the world.

He's generally lived up to his name, as he's a dick and a half. He had a running feud with Nicholas Taleb -- who is at least two dickheads of man rolled into one -- that was comical for its meanness and bluster. Sort of like a message board spat.

But apparently he's now doing temperature arbitrage, which I think is really cool (no pun intended).
 
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