Economic News Thread | Consumer Confidence declines
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Carolina Fever
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CFordUNC
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Oh dang, that's a great idea. I honestly didn't realize BlueSky had that many folks on it. Just downloaded the BlueSky app as we speak! Time to start the migration.
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I use both and there are still considerably more news outlets and related traffic at Twitter than BSKY, and far more users with realtime updates in a disaster scenario still at Twitter, which is why I still use both as news aggregation. I never post etc on Twitter, just scroll & scrape it. Of course, I don’t post very often on BSKY and didn’t post often on Twitter before Musk bought it. I don’t see the far right pop up on my following feed on Twitter (until you get to responses to posts) but find it useful when I want to find MAGA and extremists responses.
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Canada and Mexico tariffs risk inflating US housing crisis, Trump is warned
Exclusive: Dozens of congressional Democrats urge president to reconsider threatened import duties on US’s two largest trading partners
Blue Sky starter packs are the answer.
superrific
Legend of ZZL
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I hate the way the media reports inflation. This inflation report was WAY worse than what was implied.
It was a 0.5% month-over-month increase. That's 6% a year. That's what inflation actually is right now. Over the past three months, it's 5.4%. Again, that's where inflation is right now.
It's not eggs. It's not gas. It's the inevitable result of the destabilizing rhetoric of tariffs and endless bullshit. Producers are raising prices now in advance to avoid sticker shock effects when the 25% or 50% or 100% or whatever tariffs are actually implemented. Investment is dropping like a stone in vinegar, because of uncertainty. Consumer confidence is in free fall and inflation expectations are way up.
Right now, it appears the Fed is choosing between three options: cut rates; hold rates; increase rates. It has never happened in our lifetimes that "cut" and "increase" are both on the table -- normally, it's always a choice between do something or do nothing. And when the Fed isn't sure whether to cut or raise, you know something has gone very wrong with the economy.
To be clear for some of our less economically literate posters: the market (and per reporting, the Fed) sees high inflation and recession as risks. That's really bad.
Biden and the Fed engineered the "soft landing." But 1000 feet before landing, Trump cut the parachute.
It was a 0.5% month-over-month increase. That's 6% a year. That's what inflation actually is right now. Over the past three months, it's 5.4%. Again, that's where inflation is right now.
It's not eggs. It's not gas. It's the inevitable result of the destabilizing rhetoric of tariffs and endless bullshit. Producers are raising prices now in advance to avoid sticker shock effects when the 25% or 50% or 100% or whatever tariffs are actually implemented. Investment is dropping like a stone in vinegar, because of uncertainty. Consumer confidence is in free fall and inflation expectations are way up.
Right now, it appears the Fed is choosing between three options: cut rates; hold rates; increase rates. It has never happened in our lifetimes that "cut" and "increase" are both on the table -- normally, it's always a choice between do something or do nothing. And when the Fed isn't sure whether to cut or raise, you know something has gone very wrong with the economy.
To be clear for some of our less economically literate posters: the market (and per reporting, the Fed) sees high inflation and recession as risks. That's really bad.
Biden and the Fed engineered the "soft landing." But 1000 feet before landing, Trump cut the parachute.
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Chevron will slash up to 20% of its workforce as the oil major implements a plan to cut costs by up to $3 billion, the company said Wednesday.
The workforce reductions will begin this year with most of the cuts complete before the end of 2026, according to Chevron.
″We do not take these actions lightly and will support our employees through the transition,” Chevron Vice Chairman Mark Nelson said in a statement. “But responsible leadership requires taking these steps to improve the long-term competitiveness of our company for our people, our shareholders and our communities.”
ChileG
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superrific
Legend of ZZL
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Its workforce where? It employs a lot of people in a lot of places.
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They are not being specific yet, but thought it was a pretty drastic number for a fossil fuel company when you consider the de-regulation halcyon days that are ahead.
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This Chevron news may be first shoe to drop in a cascade of “right-sizing” by many corporations that have been holding onto employees due to labor market dynamics that have made it hard to replace workers.
Now that those conditions have relaxed and the Federal government is dumping workers, more companies may see a clear runway to downsize their employee base to take advantage of increased efficiencies from tech solutions without worrying about being caught flat-footed in a tight labor market if they need to rapidly upsize a particular project or sector.
It’s like we’ve been playing a giant game of rummy with nobody laying down any cards other than forced discards, but once the guy holding 20 cards lays down several sets and only holds a few cards, others will feel compelled to do the same to not be caught holding too many cards …
Now that those conditions have relaxed and the Federal government is dumping workers, more companies may see a clear runway to downsize their employee base to take advantage of increased efficiencies from tech solutions without worrying about being caught flat-footed in a tight labor market if they need to rapidly upsize a particular project or sector.
It’s like we’ve been playing a giant game of rummy with nobody laying down any cards other than forced discards, but once the guy holding 20 cards lays down several sets and only holds a few cards, others will feel compelled to do the same to not be caught holding too many cards …
aGDevil2k
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Get the BlueSky starter packs and you will be off there in no time.
Honestly the only time I even have moments of "ugh that's on X" are here. I have not missed it at ALL. There are enough bot accounts making X reposts over there for sports that it works just fine.
Dont miss X one bit.
aGDevil2k
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That shit has been happening with Tech over the last 30 months. Finally got a bit better in 2024.
If it is starting in other industries? Eeesh sorry folks. Will be a brutal 24 months for you
heelinhell
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another indication that people are spooked by Trumpanomics ?
donbosco
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I use both and there are still considerably more news outlets and related traffic at Twitter than BSKY, and far more users with realtime updates in a disaster scenario still at Twitter, which is why I still use both as news aggregation. I never post etc on Twitter, just scroll & scrape it. Of course, I don’t post very often on BSKY and didn’t post often on Twitter before Musk bought it. I don’t see the far right pop up on my following feed on Twitter (until you get to responses to posts) but find it useful when I want to find MAGA and extremists responses.
Exactly my experience.
heelinhell
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It took a couple of years for Biden to put the Trump economy back on sound footing. Is Trumpanomics going to wreck the good economy left to him in just one year ?
finance.yahoo.com
US manufacturing output falls in January on weak motor vehicle production
U.S. manufacturing production unexpectedly fell in January, weighed down by a sharp decline in motor vehicle output. Factory output dipped 0.1% last month after a downwardly revised 0.5% rebound in December, the Federal Reserve said on Friday. Economists polled by Reuters had forecast...
finance.yahoo.com
Demolition is always faster than building.
aGDevil2k
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Less.It took a couple of years for Biden to put the Trump economy back on sound footing. Is Trumpanomics going to wreck the good economy left to him in just one year ?
US manufacturing output falls in January on weak motor vehicle production
U.S. manufacturing production unexpectedly fell in January, weighed down by a sharp decline in motor vehicle output. Factory output dipped 0.1% last month after a downwardly revised 0.5% rebound in December, the Federal Reserve said on Friday. Economists polled by Reuters had forecast...
Unemployment will be going up rapidly as well.
So they are going to be approaching stagflation, which is no bueno.