Economic News

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Barring a change in policies, Trump is well on his way to sending the world (and eventually the US) into an economic downturb in 2026

The world via tariffs abd US isolationism
The US via tariffs and the so-called big beautiful. " Both of these reward wealthy individuals and the largesst corporations, exacerbate wealth/income inequality, and negatively impact the middle and working classes (i.e those who drive the economy)
 
nycfan said:


Number of people unemployed for at least 27 weeks tops 1.8 million: ‘I’m considering myself semiretired at this point’​

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“…Beyond the headline-grabbing top-line numbers in the jobs report for July was another striking piece of data: The number of people unemployed for at least 27 weeks topped 1.8 million, the highest level since 2017, not counting the pandemic’s unemployment surge. The median length of unemployment in the U.S. has also ticked up, from a seasonally adjusted 9.5 weeks in July 2024 to 10.2 weeks last month.

This job-hunting struggle highlights a significant undercurrent in a labor market jolted by tariff uncertainty and cautious businesses. The latest numbers show job growth has been sluggish for months. While the unemployment rate, at 4.2%, remains low by historical standards, companies aren’t hiring much.

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🎁 —> https://www.wsj.com/economy/jobs/un...3?st=sRfCWF&reflink=desktopwebshare_permalink
 
The BLS and ADP numbers tend to lag esp in chaotic policy or economic times. Hence the revisions to adjust. Almost everyone, except Trump, had wondered why the BLS Labor numnbers were good in May and Jubbe, even though the economy seems to be slowing.
 
heelslegup said:
The BLS and ADP numbers tend to lag esp in chaotic policy or economic times. Hence the revisions to adjust. Almost everyone, except Trump, had wondered why the BLS Labor numnbers were good in May and Jubbe, even though the economy seems to be slowing.
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I have it on very good authority American is BACK, baby! We were DEAD a year ago, but we’re the hottest thing out there now!

Seriously, it’s incredible to me how the GOP has become so disconnected from economic reality. We were in great shape in the latter half of 2024, but they were truly convinced the economy was a disaster. Now, all the objective indicators are pointing to major problems ahead, most of them directly caused by Trump’s policies, and they are just as convinced the economy is great.

I know it’s said all the time here, but it’s really hard to imagine how we move forward as a country when half of us are trapped in the Upside Down.
 
altmin said:
wait till all the workers are hauled off. going to be some real price increases then.
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Well, according to some Fox News talking heads all we need to do is bring back child labor and force prisoners to take over the worker's jobs and everything will still be peachy keen!
 
lawtig02 said:
I have it on very good authority American is BACK, baby! We were DEAD a year ago, but we’re the hottest thing out there now!

Seriously, it’s incredible to me how the GOP has become so disconnected from economic reality. We were in great shape in the latter half of 2024, but they were truly convinced the economy was a disaster. Now, all the objective indicators are pointing to major problems ahead, most of them directly caused by Trump’s policies, and they are just as convinced the economy is great.

I know it’s said all the time here, but it’s really hard to imagine how we move forward as a country when half of us are trapped in the Upside Down.
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These people live in a pure informational bubble now. I know that many of them will (falsely) claim when they're on the net arguing with somebody that they never watch Fox or other right-wing propaganda outlets and they get their information from all sorts of places, but it's mostly bunk. The vast majority of these people get all of their news from nothing but hard-right GOP outlets - Fox News, Fox Business, OAN, Newsmax, right-wing talk radio, and so on. Or they just surf right-wing (and Religious Right) crap on the net. So they're not getting a view of the world as it really is, they're just getting whatever right-wingers want them to see. It becomes easy to start living in your own little fantasy world - a declining economy is in great shape, a booming economy is terrible, immigrants are nothing but criminals and welfare bums, and on and on. And the ethnic/racial/gender/big cities are scary hellholes stereotyping is something many of these people have believed in all their lives anyway, Fox and other outlets just amplify and focus it. And I see it all the time when I go to rural NC to see my relatives. It's just sad.
 
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