Economic News

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heelinhell said:
I think at least a 25bps cut is a lock.

A 50bps cut would make Mr. Market look like he is on crystal meth going into the close 🙃
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I am perfectly happy with the Stock market having a great time. I am too dumb to know how that will help the avg Joe. We need some freaking jobs
 
heelinhell said:
"The 20% of households that make more have done much better, and those in the top 3.3% of the distribution have done much, much, much better."

Wait a minute ... based upon the policies that GQPers have been promoting for the last 45 years, I thought the problem they were trying to solve was that the, poor, working class, and middle class families have too much and the rich have too little.

If these data are accurate, then maybe these GQPer policies should be re-examined by the GQP ? Or maybe these policies have corrected the problem and finally the rich are finally beginning to catch up with the rest of the country.
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It's so crazy that tax cuts and deregulation disproportionately benefit the top 1-5% wealthiest Americans. Whoever would have guessed that this would be the case?
 
nycfan said:
“… A narrow majority of officials penciled in at least two additional cuts this year, implying consecutive moves at the Fed’s two remaining meetings in October and December. The projections hint at a broader shift toward concern about cracks forming in the job market in an environment complicated by major policy shifts that have made the economy harder to read.

… Fed governor Stephen Miran, who served as a senior White House adviser until his confirmation to the central bank board this week, dissented in favor of a larger half-point cut.

The projections underscore how coming decisions could be more contentious: seven of 19 meeting participants penciled in no further rate reductions this year, and two more penciled in only one more cut. And they show that most officials don’t expect to make many more reductions next year under their current outlook for solid economic activity.…”
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This is all perfectly reasonable and logical, and how the process should work. But expect Trump to be on TV and Truth Social any second now, shouting that the deep state commies have once again torpedoed what should have been a roaring economy.
 
CeruleanBlueHeel said:
I shudder to think what happens to the economy if Trump usurps control of the Fed, which he's most definitely trying to do. I'm also confident that little correlation exists between interest rates and job growth. 25bps is all he's getting while these stupidass tariffs are in effect.
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And thank god the chair doesn’t unilaterally make the rate decision.
 
Purple Nurple said:
You think government spending might factor into the question?
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Do I think government spending factors into the government's overall financial situation? Absolutely. Do I think government spending has anything to do with the richest Americans who own the tech companies poisoning our brains getting much, much richer while most of the country stagnates? Not really, unless you mean that we should shift government spending from things like the defense department to other purposes such as expanding the social safety net, expanding and improving physical and digital infrastructure, and working to invest in renewable energy. Or unless you are counting the huge tax breaks and incentives given to the richest Americans and their companies as "spending," which it arguably is.
 
rodoheel said:
Do I think government spending factors into the government's overall financial situation? Absolutely. Do I think government spending has anything to do with the richest Americans who own the tech companies poisoning our brains getting much, much richer while most of the country stagnates? Not really, unless you mean that we should shift government spending from things like the defense department to other purposes such as expanding the social safety net, expanding and improving physical and digital infrastructure, and working to invest in renewable energy. Or unless you are counting the huge tax breaks and incentives given to the richest Americans and their companies as "spending," which it arguably is.
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The rich, owners, get richer. When we put more dollars in consumers pockets by expanding the social safety, spend money to improve physical and digital infrastructure, or invest in renewable energy those dollars ultimately flow to the owners.
 
Purple Nurple said:
The rich, owners, get richer. When we put more dollars in consumers pockets by expanding the social safety, spend money to improve physical and digital infrastructure, or invest in renewable energy those dollars ultimately flow to the owners.
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If only Tech Company owners hundreds of Billions , maybe Trillions, were taxed-like my "income"
Bezos increased his net worth by Hundreds of Billions-basically not taxable. The tax laws have not kept up with Wealth transfers
 

Credit scores drop at fastest pace since the Great Recession​



Credit scores are falling at the fastest pace since the Great Recession as Americans struggle to keep up with the high cost of living and the return of student debt payments.

The national average FICO score dropped by two points this year, the most since 2009, according to data released Tuesday by the analytics company.

Although credit scores remain significantly higher than during the Great Recession, they are down for the second year in a row. FICO found a growing share of borrowers are falling behind on car loans, credit cards and personal loans.

Younger Americans, exposed to the double whammy of high student debt and low entry-level hiring, are under even more financial pressure.

Gen Z borrowers experienced an average credit score drop of three points — the biggest decline of any age group since 2020 during the pandemic, according to FICO.
 
Purple Nurple said:
The rich, owners, get richer. When we put more dollars in consumers pockets by expanding the social safety, spend money to improve physical and digital infrastructure, or invest in renewable energy those dollars ultimately flow to the owners.
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That’s kinda the point.
 
mpaer said:
If only Tech Company owners hundreds of Billions , maybe Trillions, were taxed-like my "income"
Bezos increased his net worth by Hundreds of Billions-basically not taxable. The tax laws have not kept up with Wealth transfers
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How is there income taxed differently than yours?
 
Purple Nurple said:
The rich, owners, get richer. When we put more dollars in consumers pockets by expanding the social safety, spend money to improve physical and digital infrastructure, or invest in renewable energy those dollars ultimately flow to the owners.
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Well there's no way to give lower-income people more income without them spending it. And the way everything is supposed to be kept in a reasonable balance is through a progressive income tax system. But we have flattened out the tax rates - based on nothing more than the now clearly disproven "trickle down" lies - such that they aren't progressive enough anymore. We should probably have 1-2 more tax brackets on top of the highest current tax bracket and the top rates should probably be in the 45% range, maybe as high as 50%.
 
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