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heelinhell said:
Do you think that fact may give SCOTUS less a willingness to take up Trump's emergency appeal ?

I can see the Trumpers on the court finding "due process" as wiggle room to appease Trump. I was thinking that, absent Alito and Thomas, there may one or two Trump appeasers who will say hearing this case based upon an outright lie is a bridge too far.
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1. It will give them less willingness. But that could take their willingness from 100 to 70%, if you know what I mean.
2. They've heard multiple cases in the past few years based on outright lies and they haven't cared about that.
3. It is an outright lie that the constitution ever embodied a principle of criminal immunity for the president, but that didn't stop them.

The bigger factor for them, I think, is that they have stock portfolios. They don't give a fuck about the NLRB because that doesn't affect them at all (except some of them have a tremendous hostility to unions for some reason). That's why they created the bespoke federal reserve exception in the first place.

Sometimes the court tries to pick a case that they don't care about much, rule in a way that seems surprisingly liberal, and then attempts to use that to cover their asses on their pro-fascist holdings. This usually happens like the second to last week of the term, but given all the activity over the summer, it might happen now. And then they will go back to eviscerating democracy while asking us to have respect for their lawlessness.
 
nycfan said:


“…For those in the bottom 80% of the income distribution, those making less than approximately $175,000 a year – their spending has simply kept pace with inflation since the pandemic. 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. The data also show that the U.S. economy is being largely powered by the well-to-do. As long as they keep spending, the economy should avoid recession, but if they turn more cautious, for whatever reason, the economy has a big problem.”
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"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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that could be in part because the price of gold is so high. I really don't know the macroeconomics of international gold holdings.
 
nycfan said:


season 6 netflix GIF by Gilmore Girls
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Fitting image. That actor is a right wing nut job. Him and another actor on Sullivan's crossing won't even be in the same building, let alone do scenes together. They shoot the scenes twice with body doubles from behind, each setup from the other side of the camera. the one actor won't even come to set till he is done for the day, so they won't pass each other.
 
The Fed is widely expected to reduce rates by 25 bps today. The only tension is whether some board members will dissent to cal for more aggressive reductions (and the political undercurrents of having a Circuit Court allowing Lisa Cooke to continue and a new member added who is also still a member of the Trump Admin in Miran, finishing out a term of the prior Fed governor who abruptly resigned without explanation earlier this year).

But for reference, history of Fed effective rate:

IMG_9729.jpeg

IMG_9730.jpeg
 
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 🙃
 
nycfan said:
IMG_9735.jpeg

🎁 —> https://www.wsj.com/economy/central...0?st=93ACZu&reflink=desktopwebshare_permalink
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“… 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.…”
 
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.
 
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.
 
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.
 
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