Economic News

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nycfan said:


Obama was bashed from the right as a socialist/ communist for that (and from the populist left for being a capitalist pig looking out for the big guys instead of the little guys).
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Well, if I recall correctly, the feds only had preferred stock and no voting power. It wasn't a control play; it was a "they have nothing to exchange for this support except equity" play.

More importantly, the idea of governments taking ownership stakes in corporations is centuries old. China's economy is built on it. Plenty of European countries have ownership stakes in big industry. France is the largest shareholder in Airbus; Germany the largest shareholder in Deutsche Telecom; Spain has large ownership stakes in many of its big companies.

And of course, and this is probably why she is dancing around it -- Russia is famous for having large equity stakes in its big companies.
 




“… While Lutnick said earlier on CNBC that the U.S. does not want to tell Intel how to run its operations, any investment would be unprecedented and ramps up a new era of U.S. influence on the big companies. In the past, the U.S. has taken stakes in companies to provide cash and build confidence in times of economic upheaval and uncertainty.

…The two sources said Treasury Secretary Scott Bessent is also involved in the CHIPS Act discussions, but that Lutnick is driving the process. The Commerce Department oversees the $52.7 billion CHIPS Act, formally known as the CHIPS and Science Act. The act provides funding for research and grants for building chip plants in the U.S.

Lutnick has been pushing the equity idea, the sources said, adding that Trump likes the idea….”
 
nycfan said:
“
At the moment, the American economy feels a little bit like a hot August afternoon. The air is heavy and still, as lightning flashes on the horizon. The storm could sweep through and leave destruction in its wake. It could set in for a brief drizzle.

Or it could pass by in the distance, and take its fury elsewhere.

In this very humid metaphor, the electricity in the sky is the steep tariffs that President Trump has now imposed on most goods coming into the United States. It’s also his strict immigration curbs, mass firings of government employees and the pullback in government spending.

Economists have been waiting for that multifaceted storm system to start showing up in the economic data. The signs are now unmistakable, but the severity of the impact remains unclear.…”

timelapse weather GIF
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I see Target sales continue to decline and its stock is down 10% in the pre-market this morning.

Could Target be a bell weather for future declines in consumer spending ?

I also see Home Depot did not have a very good quarter.
 
nycfan said:

White House says jobs surging among U.S.-born. Here’s what economists say.​

A quirk in survey calculations is muddying the data on just how immigration policies are upending the labor market.

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www.washingtonpost.com

“… “Right now we’re seeing American workers are being put first — native-born workers account for all of the job growth, and that’s key,” Labor Secretary Lori Chavez-DeRemer said this month on Fox Business. “The American worker is going to win in this occasion because the president has their back.”

… But so far, economists on both sides of the aislesay, they have seen no evidence that American-born workers are picking up jobs vacated by immigrants. They also say figures for native- and foreign-born workers should not be used to gauge the current state of the labor force.

“Looking at the number of native-born workers is not the correct way to read the jobs report,” said Jed Kolko, a senior fellow at the Peterson Institute for International Economics and a former Commerce Department economist….”

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Let me be clear, this comment is NOT directed at the person who posted it. I'm glad that NYCFan posted it and I genuinely thank her for her probably futile effort to keep people like me and other old farts at least minimally grounded in reality as to current events. But that said, . . ., any article that has a headline that starts with "White House says . . ..", I'm just going to assume that for all intents and purposes this is the "Brave New World" speak for "Once upon a time . . .." And I do realize that the article is actually a debunking of the Soma the White House is passing out to the MAGA faithful. Does this mean that the Washington Post has finally pulled its backbone from wherever they stored it away about a year ago?
 
superrific said:
Well, if I recall correctly, the feds only had preferred stock and no voting power. It wasn't a control play; it was a "they have nothing to exchange for this support except equity" play.

More importantly, the idea of governments taking ownership stakes in corporations is centuries old. China's economy is built on it. Plenty of European countries have ownership stakes in big industry. France is the largest shareholder in Airbus; Germany the largest shareholder in Deutsche Telecom; Spain has large ownership stakes in many of its big companies.

And of course, and this is probably why she is dancing around it -- Russia is famous for having large equity stakes in its big companies.
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Yeah, there is certainly precedent for it, and it can be a good idea in some circumstances; it is just very funny that it is coming from the supposedly "radically pro-free market" party.
 
rodoheel said:
While rates certainly are playing a role, for the most part people aren't buying houses because there aren't enough houses being built and supply is too tight. You know, the same problem we've been dealing with for years.
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Related

The Home-Builder Heir Who Is Stoking the Jerome Powell Frenzy​

Trump’s freewheeling Federal Housing head Bill Pulte is waging an unorthodox social-media campaign to oust the Fed chair​


🎁 —> https://www.wsj.com/finance/bill-pu...0?st=MzDoLP&reflink=desktopwebshare_permalink

“… The 37-year-old FHFA chief, known to some as “Little Trump,” has recently inserted himself into the middle of the action, thanks to a relentless social-media campaign targeting Federal Reserve Chairman Jerome Powell. He even drafted a letter for President Trump to fire Powell. (Trump on Wednesday denied that he planned to, though didn’t rule it out entirely.) [He is also behind a new push to demand a Biden appointee to the federal resign that got Trump to post this today:


]

…Pulte, an heir of one of the largest home builders, has 3 million followers on X, after gaining popularity by giving away money using the platform. Like Trump, he regularly posts policy changes or ideas in real-time and airs frustrations. Shares of Fair Isaac Corp., also known as FICO, fell sharply earlier this year after Pulte said he was “not happy” with the credit-scoring firm.…”
 
A drop in the The Fed rate is hardly the only factor in mortgage interest rates. Could someone please explain that to Trump...and dude, the tariffs.
 
rodoheel said:
Yeah, there is certainly precedent for it, and it can be a good idea in some circumstances; it is just very funny that it is coming from the supposedly "radically pro-free market" party.
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Agree, but those circumstances are probably limited to (a) temporarily propping up a vital industry, or (b) signaling confidence in a vital company or segment to the market. What Trump is doing is just command economics.
 
Purple Nurple said:
Looks like Cock has two primary residences.
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1. Only if you believe the Trump people. Why would you? Everything they say is a lie. Do we need to go through all the Biden Crime Family bullshit again.
2. This is not nearly the smoking gun you think it is. The principal residence issue can be complex when you are talking about people who are in the midst of moving or are splitting time between two locations.
 
superrific said:
1. Only if you believe the Trump people. Why would you? Everything they say is a lie. Do we need to go through all the Biden Crime Family bullshit again.
2. This is not nearly the smoking gun you think it is. The principal residence issue can be complex when you are talking about people who are in the midst of moving or are splitting time between two locations.
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Calm down chief. I don’t think anything is a smoking gun. I was just relaying information.
 
Purple Nurple said:
Calm down chief. I don’t think anything is a smoking gun. I was just relaying information.
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That Cock has two primary residences? First, Cock, really? And second, relaying information would be: "The claim is that she has two primary residences." "Looks like Cock . . ." is an endorsement of bullshit.
 
superrific said:
That Cock has two primary residences? First, Cock, really? And second, relaying information would be: "The claim is that she has two primary residences." "Looks like Cock . . ." is an endorsement of bullshit.
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OMG….Cock was an error. I’m on an iPhone and eye sight is failing me in my mid 40s. I was relaying what I saw quickly as I was doing something else. I guess you can except that or educate me further.
 
Purple Nurple said:
OMG….Cock was an error. I’m on an iPhone and eye sight is failing me in my mid 40s. I was relaying what I saw quickly as I was doing something else. I guess you can except that or educate me further.
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It's hard to tell sometimes with all the intentionally disparaging misspellings on the right. Dimocrat is not usually a typo. Newscum is not a typo.
 
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