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

[TheGreatBuzz]

1 minute ago, Corcaigh said:

Your knots were that bad?

https://www.washingtonpost.com/archive/local/1995/10/15/out-of-scouts-in-a-clash-of-beliefs/5f2bb7b1-ebbe-47f3-98aa-1955dbdfc1b8/

 

 

Edited July 13, 2023 by TheGreatBuzz

[Corcaigh]

33 minutes ago, TheGreatBuzz said:

https://www.washingtonpost.com/archive/local/1995/10/15/out-of-scouts-in-a-clash-of-beliefs/5f2bb7b1-ebbe-47f3-98aa-1955dbdfc1b8/

 

 

it was the knots.

[Corcaigh]

I used to coach a chess club in elementary school at the same time that the Boy Scouts were meeting. I know for a fact the chess club could kick the Boy Scouts ass.

 

They were all like Ralph Wiggum, Buzz excepted obviously.

[The Evil Genius]

Buzz is more of a Millhouse. 😁

[Ball Security]

 

[Sacks 'n' Stuff]

On 7/12/2023 at 11:10 PM, The Evil Genius said:

Buzz is more of a Millhouse. 😁

Yeah

[PokerPacker]

On 7/13/2023 at 12:10 AM, The Evil Genius said:

Buzz is more of a Millhouse. 😁

 

[Cooked Crack]

 

[PleaseBlitz]

https://www.washingtonpost.com/business/2023/07/17/bank-accounts-excess-cash-savings/

 

Americans are still better off, with more in the bank than before the pandemic

 

Quote

Despite a year when inflation pushed prices to new heights, Americans are still better off now than before the pandemic, with nearly 10 to 15 percent more in their bank accounts than in 2019, new checking and savings account data shows.

 

However, households are rapidly spending down that extra cash they’d socked away during the pandemic. Median account balances are at their lowest levels in roughly three years and have dropped as much as 41 percent from their peak in April 2021, when Americans were flush with government stimulus money and tax returns, according to a JPMorgan Chase Institute analysis of the bank accounts of 9 million Chase customers.

 

Taken together, the data helps explain the big mystery behind how the U.S. economy has managed to avoid a recession that many economists had forecast: Consumers, supported by a strong labor market, have been able to keep spending despite inflation and a sharp rise in borrowing costs.

 

[LD0506]

[TheGreatBuzz]

That's true for us but our income went up significantly also.  I wonder how much that factors into it.

[Spaceman Spiff]

I need to know how Mazdas are selling so I can make an informed decision about if we’re in a recession or not. 

[PleaseBlitz]

5 minutes ago, Spaceman Spiff said:

I need to know how Mazdas are selling so I can make an informed decision about if we’re in a recession or not. 

 

Would increased Mazda sales indicate good or bad economic conditions?  It's not really clear. 

17 minutes ago, TheGreatBuzz said:

That's true for us but our income went up significantly also.  I wonder how much that factors into it.

 

I think where is says "Consumers, supported by a strong labor market, have been able to keep spending despite inflation and a sharp rise in borrowing costs" means that a lot of people had jobs and wages went up for many of them.

[Spaceman Spiff]

8 minutes ago, PleaseBlitz said:

 

Would increased Mazda sales indicate good or bad economic conditions?  It's not really clear. 

 

 

 

I never really thought of it that way.  I think you have a really good point.

[TradeTheBeal!]

22 minutes ago, Spaceman Spiff said:

I need to know how Mazdas are selling so I can make an informed decision about if we’re in a recession or not. 

 

[Cooked Crack]

 

 

[Cooked Crack]

 

[bearrock]

Democratic president being good for the economy, shocking.

[PleaseBlitz]

Just now, bearrock said:

Democratic president being good for the economy, shocking.

 

But getting zero credit, and in fact still being blamed for an inflation "crisis."

[hail2skins]

59 minutes ago, PleaseBlitz said:

 

But getting zero credit, and in fact still being blamed for an inflation "crisis."

Hey, it's not a coincidence that the economic picture has gotten more sunny since TRUMP announced his candidacy right after the midterms #MAGANOMICS 

[skinsmarydu]

49 minutes ago, PleaseBlitz said:

 

But getting zero credit, and in fact still being blamed for an inflation "crisis."

...that "started" because TFG wouldn't listen to scientists, if we really wanna go to the "way back machine".   If Dr. Scarf (as I'll always refer to her) had stomped her foot and rejected the BS he spewed every day, we may have saved a few hundred thousand lives, not burdened our entire medical system and everyone in general.  

It's not "inflation".  It's the results of an idiot being "elected".  I know economists see it differently, they have charts and whatnot.

 

He damaged our society to the nth degree.  I'll never forgive the people who did it. 

I'll always support the people trying to dig us out of it.   

[Larry]

 

[China]

On 5/8/2023 at 7:31 PM, China said:

Nearly half of baby boomers have no retirement savings

 

Fewer than half of working-age Americans have any retirement savings, according to Census data for 2020. Savings rates rise with age, but only to a point. In the 55- to 64-year-old boomer age group, 58 percent of Americans own retirement accounts.  

 

And that is a problem. A newly minted retiree of 65 can now expect to live 20 more years, on average, according to Social Security projections. 

 

Without a retirement account, most retirees count on Social Security. The average monthly Social Security check to a retired worker is around $1,800. The average household run by an American older than 65 spends more than $4,000 a month.  

 

Yet, “many people go into retirement thinking that Social Security is going to provide for them,” said Josh Hodges, chief customer officer for the National Council on Aging. 

 

A chasm of wishful thinking separates America’s retirement goals from its retirement realities.  

 

Click on the link for the full article

 

What if Social Security didn’t exist?

 

[LadySkinsFan]

The only thing about the inflation falling is Social Security COLA is dependent upon it. Last year it was over 8%, this coming year it's predicted to be only 3%. What I got this year was eaten up by my rent increase, not counting other increases like supplement medical insurance, food, and gas.  I'm already figuring out what I can cut for next year because if my rent goes up like this year, I'm going to have to make some drastic changes in my budget.

[Riggo-toni]

I suddenly feel a little bit better about my retirement savings. And according to the law of 72, if the market averages a 12% return rate it will double when I hit 66 and can quit the rat race.