Economic News

[aGDevil2k]

Wow. The Trump inflation

Ugh. I know, I know. It’s a terrible addiction and hard to break!

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]

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 …

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]

another indication that people are spooked by Trumpanomics ?

https://finance.yahoo.com/news/retail-sales-see-biggest-drop-in-a-year-to-start-2025-133721067.html

 

[donbosco]

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.

 

[nycfan]

 

[nycfan]

 

[heelinhell]

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...

finance.yahoo.com

 

[finesse]

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 ?

Demolition is always faster than building.

 

[aGDevil2k]

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...

finance.yahoo.com

Less.
Unemployment will be going up rapidly as well.

So they are going to be approaching stagflation, which is no bueno.

 

[nycfan]

Veteran of U.S. Credit Downgrade Hears Alarm Bells Today​

A former S&P executive shares views of U.S. creditworthiness under Trump​

https://www.wsj.com/finance/investing/veteran-of-u-s-credit-downgrade-hears-alarm-bells-today-5fcc17be?mod=e2tw

 

[Kraftyheel89]

A Valentine special - the price of chocolate (and cocoa) have skyrocketed and are double the price a year ago.

Now that Trumpf is Prez, the Faux News site has a fully detailed article on the supply, weather and factual economic issues that have caused this huge spike in price.

I wonder why they are actually giving factual detailed explanations now, rather than claiming the Prez. controls this and it is all his fault? You know, the dumbed down populist explanation for ignorant uneducated MAGA voters?

 

[Kraftyheel89]

Veteran of U.S. Credit Downgrade Hears Alarm Bells Today​

A former S&P executive shares views of U.S. creditworthiness under Trump​

https://www.wsj.com/finance/investing/veteran-of-u-s-credit-downgrade-hears-alarm-bells-today-5fcc17be?mod=e2tw

No worries there. Trump can just write off huge amounts of "bad debt" through Executive Order. Because that is how our country was set up to operate according to these nutjobs.

 

[BillOfRights]

https://www.cnbc.com/2025/02/12/chevron-will-slash-up-to-20percent-of-its-workforce-as-part-of-cost-cutting-plan.html

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.”

Bluesky

bsky.app

 

[superrific]

Veteran of U.S. Credit Downgrade Hears Alarm Bells Today​

A former S&P executive shares views of U.S. creditworthiness under Trump​

https://www.wsj.com/finance/investing/veteran-of-u-s-credit-downgrade-hears-alarm-bells-today-5fcc17be?mod=e2tw

To be honest, I couldn't give two fucks about credit rating agencies' estimates of sovereign debt. They don't know anything that other credit analysts don't know, which is why the market reacted not at all when one of them downgraded the debt a few years ago.

 

[nycfan]

“… “A majority of participants observed that the current high degree of uncertainty made it appropriate for the committee to take a careful approach in considering additional adjustments to the stance of monetary policy,” said the minutes of the Jan. 28-29 policy meeting, which were published Wednesday with a customary three-week lag. …”

 

[nycfan]

“… President Donald Trump, in an interview with Fox News’ Sean Hannity that aired Tuesday night, acknowledged that inflation is on the rise again — bucking his campaign promise to lower prices immediately upon taking office. But he said the Biden administration’s runaway spending is to blame.

“Inflation is back,” Trump said.

“I had nothing to do with it. These people have — have run the country. They spent money like nobody has ever spent.”

… Trump on Tuesday night appeared to blame inflation on Biden’s push for a “Green New Scam,” although it wasn’t exactly clear what his claim referred to. No such bill ever passed.

“They were given $9 trillion to throw out the window — $9 trillion, and they spent it on the Green New Scam, I call it,” Trump said. “It’s the greatest scam in the history of the country.” …”

https://www.cnn.com/2025/02/19/economy/trump-inflation-is-back/index.html

 

[ChileG]

Thanks for ruining our strong economy, Trumpers.

 

[HandsonFire]

Everything you say resets the record for the most absurd statement ever uttered here.

We are indeed losing allies and the goodwill of the world. It will.not be very long at all before Americans will be absolutely unwelcome in most any Western European nation.

It’s amazing how in love with their own bullshit Maggots are.

 

[finesse]

Thanks for ruining our strong economy, Trumpers.

It's only to be expected.


Since World War II, Democrats have seen job creation average 1.7 % per year when in office, versus 1.0 % under the GOP. US GDP has averaged a rate of growth of 4.23 percent per annum during Democratic administrations, versus 2.36 per cent under Republicans, a remarkable difference of 1.87 percentage points. This is postwar data, covering 19 presidential terms—from Truman through Biden. If one goes back further, to the Great Depression, to include Herbert Hoover and Franklin Roosevelt, the difference in growth rates is even larger.

The results are similar regardless whether one assigns responsibility for the first quarter of a president’s term to him or to his predecessor. Relatedly, the average Democratic presidential term has been in recession for 1 of its 16 quarters, whereas the average for the Republican terms has been 5 quarters, a startlingly big difference.

1. Reasons to be skeptical

Even those of us who believe that Democrats may have pursued better policies than Republicans, overall, have a hard time explaining the big observed gap in performance. After all, many other powerful and unpredictable factors impact the economy, often dwarfing the effect of any policy levers that the president can control.

Furthermore, many policies, good or bad, have their main effects only over a time span longer than a presidential cycle. For example, Jimmy Carter deserves credit for appointing Paul Volcker as Chairman of the Fed in 1979 with a mandate to defeat inflation at all costs. The subsequent disinflation was ultimately successful, helping to set the stage for the Great Moderation of the next 20 years. But its immediate impact in 1980 was a recession. Most economists consider the Volcker monetary contraction to have been worth the price. But the downturn contributed to Carter’s failure to win re-election in November of that year. Ironically, that is the one and only recession in the last 70 years that took place with a Democrat in the White House.

1. Is it just chance?

 

[nycfan]