Economic News Thread | Fed Quarter Point rate cut

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ChileG said:
Thanks, Trump supporters.

Next up - cutting your social security and Medicare benefits.
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Speaking of Social Security, that little bump you get when you've maxed out isn't really substantial. I don't believe most would notice if they just removed the cap and kept taking the same amount all year.
 
And now the Republicans want to shut down the government until after the inauguration. It’s so great having Elon Musk as our chief economic architect.
 
Turd Ferguson said:
But I thought people voted for Trump because of his great policies.
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Those were only concepts.

And he's not really going to do the bad stuff.

It's all slide of hand so the heritage foundation cancontinue to try and fuck us into a theocracy.
 


“… The revision is an upgrade from the initial estimate of 2.8% growth in the July-Sept. period.

  • It largely reflects stronger exports and better consumer spending, offsetting a bigger-than-estimated drag from inventory investment.
The intrigue: The third quarter grew at a slightly quicker pace than the prior quarter, which expanded at a 3% annualized rate.

  • A tool developed by the Federal Reserve Bank of Atlanta estimates the economy might be even stronger in the current quarter, with 3.2% growth. …”
 
nycfan said:
Krugman on the “Vibecession” that suddenly ended …

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This has to be one of the most infuriatingly idiotic parts of modern American politics, mainly because it has such a significant impact on voting behavior. And to revisit a prior discussion on this, while both parties swing a bit based on who is in office, Pubs swing WILDLY and with no rational connection whatsoever to what’s really happening in the market. Economic illiteracy among the American right is one of the greatest threats to the country today, and it’s being constantly reinforced by right wing media and political leaders.
 
lawtig02 said:
This has to be one of the most infuriatingly idiotic parts of modern American politics, mainly because it has such a significant impact on voting behavior. And to revisit a prior discussion on this, while both parties swing a bit based on who is in office, Pubs swing WILDLY and with no rational connection whatsoever to what’s really happening in the market. Economic illiteracy among the American right is one of the greatest threats to the country today, and it’s being constantly reinforced by right wing media and political leaders.
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To understand even the most basic concepts of economics requires a capacity for abstract thought. Conservatives generally, and MAGAs especially, tend to be literal/ concrete thinkers and have little, if any, understanding of basic economics.

Attempting to explain basic economics to them is a waste of time. Dems have to develop political messages that a 5th grader can understand. Trump has been very skillful in dumbing down political messaging. Dems need to up ( down ? ) their game when it comes to political messaging that can reach 40% of the country which is Trump country.
 
lawtig02 said:
This has to be one of the most infuriatingly idiotic parts of modern American politics, mainly because it has such a significant impact on voting behavior. And to revisit a prior discussion on this, while both parties swing a bit based on who is in office, Pubs swing WILDLY and with no rational connection whatsoever to what’s really happening in the market. Economic illiteracy among the American right is one of the greatest threats to the country today, and it’s being constantly reinforced by right wing media and political leaders.
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I generally agree with this. But I don’t want it to be lost that people in this country were (and continue to) experiencing economic hardship in the areas that hit them most on a week to week basis: grocery prices and rent prices.

These factors are rarely accounted for in discussions of the so-called “vibecession,” which is a pretty arrogant way to talk about economics when you consider that poor and working people were struggling and continue to struggle.

There are a ton of MAGAs who were making out relatively fine in these years. The middle-class to upper-class suburban Republican is still a big part of Trump’s coalition. Of course there is a brainwashed segment who will flip on a dime based on who is in office, we already knew that way before 2021.
 
Paine said:
I generally agree with this. But I don’t want it to be lost that people in this country were (and continue to) experiencing economic hardship in the areas that hit them most on a week to week basis: grocery prices and rent prices.

These factors are rarely accounted for in discussions of the so-called “vibecession,” which is a pretty arrogant way to talk about economics when you consider that poor and working people were struggling and continue to struggle.

There are a ton of MAGAs who were making out relatively fine in these years. The middle-class to upper-class suburban Republican is still a big part of Trump’s coalition. Of course there is a brainwashed segment who will flip on a dime based on who is in office, we already knew that way before 2021.
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I haven't seen any data, but I wonder what % of Americans have actually been experiencing economic hardship today compared to the Trump, Obama, and Bush administrations.

My guess is ( leaving "feelings" aside ) that the % suffering economic hardship has been relatively constant over the last 25 years.
 
heelinhell said:
I haven't seen any data, but I wonder what % of Americans have actually been experiencing economic hardship today compared to the Trump, Obama, and Bush administrations.

My guess is ( leaving "feelings" aside ) that the % suffering economic hardship has been relatively constant over the last 25 years.
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www.marketplace.org

The average U.S. renter now spends 30% of their income on rent, a new all-time high - Marketplace

When people have to spend more and more on rent, there's not much left over for other essentials.
www.marketplace.org www.marketplace.org

I might be one of the only renters on the board. Shit is historically absurd.
 
Trump promised rates would lower with him president. But the Fed has announced it will do FEWER rate reductions because Trump is an idiot.
Trump promised that grocery prices would come down. He recently admitted that was a lie, and now inflation is expected to increase under Trump because he is an idiot.
Trump promised the stock market would take off if elected, but it is crashing because he is an idiot.
Not off to a great start.
 
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