The State of the Economy Thread - “Falling inflation, rising growth give U.S. the world’s best recovery”

[Cooked Crack]

 

 

[The Evil Genius]

Dark Brandon 🔥 

 

 

 

Also..

 

 

[PeterMP]

We need a higher corporate tax for large companies with the money going to small business loans and grants.

 

Technology has made it easier and more profitable to manage larger companies that don't necessarily constitute a monopolies.  In the past, advertising, communication, and coordination issues constituted a hidden costs to larger companies.  Those barriers are greatly reduced with modern communication and the globalization of the media.  It is easier to be a big company than ever in the past and then once you are a big company to use your size to an advantage.

 

We need to put a cost on being a large company to make being large less of an advantage.  The 15% minimum tax on multinational might help some.

 

Giving small companies more of an advantage will come with some downside, but it will likely increase competition, driving down prices and increasing wages.

[China]

10 Groceries That Are in Short Supply — or Soon May Be

 

1.  Butter

2. Potatoes

3. Olive Oil

4. Beer

5. Spaghetti sauce

6. Turkey

7. Rice

8. Hard red winter wheat

9. Amoxicillin

10. Baby formula

 

Click on the link for the details

[EmirOfShmo]

 

[Ball Security]

27 minutes ago, EmirOfShmo said:

 

I mean, I guess.  The Dow has been hammered in 2022 and October has been helpful.  However, the Dow is down 8.5% year over year.  Conversely, it’s up 22% over the past two years.  

[China]

U.S. job openings jump to 10.7 million — labor market still too hot for the Fed

 

The numbers: Job openings in the U.S. rose to 10.7 million in September in a sign that a scorching-hot labor market hasn’t cooled off as much as the Federal Reserve would like.

Job listings increased from 10.3 million in August, the Labor Department said Tuesday.

 

The number of job openings is viewed as a way to assess the strength of the labor market and the broader economy. Although companies still list a high number of open jobs, the total has fallen off from a record 11.9 million in March.

 

Yet the Fed wants to see the mismatch between high job openings and the relative scarcity of available workers shrink at a faster pace.

 

Senior Fed officials worry the labor shortage is causing wages to spike and add to already high inflation.

 

Click on the link for the full article

[China]

U.S. economy added 261,000 jobs in October, better than expected as hiring remains strong

 

Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a strong labor market.

 

Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday.

 

Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs but worse than the 3.5% estimate for the unemployment rate.

 

Average hourly earnings grew 4.7% from a year ago and 0.4% for the month, indicating that wage growth is still likely to pressure inflation. The yearly growth met expectations while the monthly gain was slightly ahead of the 0.3% estimate.

 

The new figures come as the Fed is on a campaign to bring down inflation running at an annual rate of 8.2%, according to one government gauge. Earlier this week, the central bank approved its fourth consecutive 0.75 percentage point interest rate increase, taking benchmark borrowing rates to a range of 3.75%-4%.

 

Click on the link for the full article

[Larry]

Obviously what's needed is a tax cut on the rich. 

[skinsmarydu]

It's why I like my industry.  I can move around if I want to.

[Riggo-toni]

As the saying goes, be careful what you wish for...the trade wars aren't easy to win after all, and the reduction of immigrants combined with the retirement of the largest generation in history has created a labor shortage, reckless government deficits over the last twenty years, and the steady flow of easy money since 2010... inflation is likely to be the hallmark of this decade, just as it was in the 70s.

[China]

Deep-red Nebraska joins liberal states in adopting $15 minimum wage

 

Nebraska is projected to approve a $15 minimum wage for workers amid a nationwide push for wage hikes that has predominantly taken hold in liberal states like New York, California and Illinois.

 

The referendum, called Initiative Measure 433, garnered support from 59% of voters in Nebraska, while ballots opposing the measure stood at 41%, according to results reported by ABC News on Wednesday.

 

The measure will incrementally raise the state's minimum wage from its current level of $9 per hour to $15 per hour by 2026. Over ensuing years, the minimum wage will move in accordance with inflation.

 

Click on the link for the full article

[China]

October Inflation Report: Price Pressures Show Signs of Cooling

 

Here’s what we know:

Consumer prices rose 7.7 percent in the year through October, slower than economists anticipated. Stocks jumped at the sign that the Federal Reserve’s campaign to tame inflation was taking effect.

• Inflation moderated by more than expected in October.
• Markets soar on signs of slower inflation.
• Takeaways from a hopeful inflation report.
• Biden says cooling inflation shows his economic policies are working.
• Food prices grew at a slower clip amid still-high inflation.
• Used-car prices fall sharply, hinting at a broader slowdown in inflation.
• Corporate leaders say they will keep raising prices.

Click on the link for the full article

[TheDoyler23]

8 hours ago, China said:

Deep-red Nebraska joins liberal states in adopting $15 minimum wage

 

 

Click on the link for the full article

 

It's almost like they like dem policy, but not the letter D next to their names. 

 

"Obamacare is evil, but don't take away my Medicare!"

 

 

[Ball Security]

S&P up 5.5% in one day.  Is that a lot?

[China]

2 hours ago, Ball Security said:

S&P up 5.5% in one day.  Is that a lot?

 

The best since 2020.

 

Markets Soar on Signs of Slower Inflation

 

Stocks jolted higher on Thursday, after fresh data showed a moderation in inflation, bolstering investors’ expectations that the Federal Reserve will soon slow the pace of interest rate increases that have weighed on the market.

 

The S&P 500 soared 5.5 percent, its best one-day performance since April 2020 and the early market recovery from the coronavirus induced meltdown.

 

Other markets also experienced large moves, with the U.S. dollar falling over 2 percent, a welcome sign for countries around the world whose currencies have weakened as the American currency rose to a two-decade high. U.S. government bond yields, which underpin borrowing costs around the world and are particularly sensitive to expectations for future interest rate increases, fell sharply.

 

“This is what we have all been waiting for because so much hinges on this,” said Kristina Hooper, chief global market strategist at Invesco. “I think there is a good chance inflation has peaked and is now moderating.”

 

Consumer Price Index data on Thursday showed prices rose slower in October than economists had forecast, providing a tailwind for financial markets that had been bruised earlier in the week by an unexpectedly close midterm election and turmoil in cryptocurrency markets, following the near-collapse of one of the largest crypto exchanges.

 

Click on the link for the full article

 

=================

 

DOW Jones also up:

 

Dow jumps 1,200 points on cooling inflation report

[gbear]

 My prediction is stocks drop on retail sales data when next released. My prediction is based on a single experience (bad science), but stil a chilling one for me. I had to go to Walmart on Black Friday. I will grant it was 9pm a long time from when the door crashers come rushing into the stores, but the store is in an affluent area.  

 

My experience: I checked out with no line. That's it. I have never gone to Walmart and checked out without waiting in line, much less on the day after Thanksgiving.

[TradeTheBeal!]

I feel like COVID put a stake through the heart of the vampire that is Black Friday consumer mania.

 

That said, our little downtown boutique was quite busy yesterday even though we did no marketing whatsoever.  Not even an instagram post.

[CousinsCowgirl84]

13 minutes ago, gbear said:

 My prediction is stocks drop on retail sales data when next released. My prediction is based on a single experience (bad science), but stil a chilling one for me. I had to go to Walmart on Black Friday. I will grant it was 9pm a long time from when the door crashers come rushing into the stores, but the store is in an affluent area.  

 

My experience: I checked out with no line. That's it. I have never gone to Walmart and checked out without waiting in line, much less on the day after Thanksgiving.

Was it in the Hampton roads area?

[tshile]

Wife went out and snagged me some new clothes got a dope jacket but otherwise I shopped all online. Drove out to lurray for some Christmas trees. 
 

Black Friday is like a week long online thing for me. 
 

I did hit up a local shop today and dropped a ton on framing some art we got 

[Cooked Crack]

I went to Best Buy early to pickup an appliance Friday. Not that bad out. Probably wouldn't have gone if it wasn't close to where I got gas.

[skinsmarydu]

I only buy gifts for kids of my friends *and the grands, of course*.   There's nothing I need, so I spread the news to friends to not do gifts.

  Let's just be happy for a while. 

[gbear]

I try to remind my kids all the time,the saying of "happiness doesn't come from getting what you want but rather from wanting what you get" only comes close. Happiness really comes from wanting what you have.

[balki1867]

On 11/10/2022 at 10:06 AM, TheDoyler23 said:

 

It's almost like they like dem policy, but not the letter D next to their names. 

 

"Obamacare is evil, but don't take away my Medicare!"

 

 

 

My favorite anti-ACA argument was the people saying, "THEY SHOULD BE FORCED TO HAVE THE SAME HEALTHCARE AS GOVERNMENT WORKERS, NOT SOME FANCY-PANTS COMMUNIST HEALTHCARE."

 

So... like... an organized marketplace where any provider who participates is expected to provide a defined minimum standard of care? BRILLIANT IDEA!

[TheGreatBuzz]

2 hours ago, balki1867 said:

 

My favorite anti-ACA argument was the people saying, "THEY SHOULD BE FORCED TO HAVE THE SAME HEALTHCARE AS GOVERNMENT WORKERS, NOT SOME FANCY-PANTS COMMUNIST HEALTHCARE."

 

So... like... an organized marketplace where any provider who participates is expected to provide a defined minimum standard of care? BRILLIANT IDEA!

 

But will then yell about how horribly our veterans are treated by the evil Veterans Administration, you know, the actual government-run health care.