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

[tshile]

On 11/27/2023 at 7:31 PM, Renegade7 said:

That moment when capitalism finally smokes some weed and looks inward upon itself...

 

 

that’s cute - not sure which CEO is going to green light the funding for that project, but cute idea I guess. 
 

It would be interesting to have something that’s capable of analyzing a company, top to bottom, and making recommendations on efficiency 

 

i imagine high on the list will be compensation - how people doing all the work are paid so little and people at the top paid so much 

[Larry]

17 minutes ago, tshile said:

It’s boy who cried wolf at this point 

 

Still fond of the expression:  

 

Economists have successfully predicted nine of the last four recessions.  

 

15 minutes ago, tshile said:

i imagine high on the list will be compensation - how people doing all the work are paid so little and people at the top paid so much 

 

The people at the top earned that money.  

 

By paying the people at the bottom so little.  

 

Edited November 29, 2023 by Larry

[tshile]

Right but what would be more interesting is how it would weight different things compared to how different groups of people, up to and including society at large, view things 

 

ive watched it myself as I’ve come from being grunt on the bottom of the totem pole to person near the top. I still have friends that are grunts - well paid grunts but still grunts who’s job is to do the work. 
 

there is a spectrum of views from those at the bottom to those at the top. And while they all (likely) have some sort of validity inside somewhere, there’s a lot wrong with some/many of them. 
 

and it’s funny to watch a persons view change as their role in the labor force changes. 
 

a lot of people at the bottom think the people at the top don’t do anything. 
 

a lot of people at the top work on weekends, holidays, or evenings, and would get more done if they didn’t have to deal with some pretty basic **** adults can’t seem to figure out. 
 

like, how to be to work on time. 

 

or, how to see projects through to completion 

 

or, how to work as a team, even when you don’t like the other person 

 

many adults send to be middle schoolers in an adult body. It’s funny to think about how they view the world and act. I’m curious what a properly tuned AI agent would come back with in terms of where the inefficiencies are, and the weighting of importance/impact are. 
 

I have a feeling everyone would be at least a bit surprised, when comparing it to what they personally think the answers are. 

[China]

Nearly half of Americans age 18 to 29 are living with their parents

 

Nearly half of all young adults in the US ages 18 to 29 live with their parents, and this living arrangement is boosting the profits of luxury goods companies, according to Morgan Stanley.

 

The number of people moving back in with at least one parent spiked in 2020 at the height of the covid-19 pandemic to 49.5%, according to census data. It’s since edged down to 48% last year, but the rate is expected by the bank to remain there for 2022, even as people return to a hybrid work set up.

 

When young adults free up their budgets from daily necessities, they have more income that can be spent on discretionary items like travel, entertainment, and luxury goods.

 

“We think the structural change in demographics might have been overlooked,” Morgan Stanley’s Edouard Aubin and a team of analysts wrote in a note on Dec. 9. “One of the key demographic trends in the US (and the broader Western market) has been the rising number of young adults living with their parents, driven by financial concerns (i.e. rental costs) as well as other sociological factors (e.g. higher penetration of higher education and increasingly delayed age for marriage).

 

Click on the link for the full article

[Cooked Crack]

 

[China]

November Jobs Report U.S. Job Growth Continues to Be Robust

 

 Hiring grew at a healthy pace in November, a sign that the labor market remains solid. The unemployment rate dropped to 3.7 percent.

 

Click on the link for the full article 

[Renegade7]

8 hours ago, Cooked Crack said:

 

Aka consumers starting to realize the doom and gloom talk is just talk and focusing in their own situation...

 

That's a sign of a credibility gap beginning to grow, that's not 100% a good thing, either...

[Larry]

6 hours ago, Renegade7 said:

 

That's a sign of a credibility gap beginning to grow, that's not 100% a good thing, either

 

 

[Cooked Crack]

 

[Cooked Crack]

 

[China]

Federal Reserve Meeting Fed Signals Rate Cuts in 2024

 

Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation.

 

Interest rates are now set to a range of 5.25 to 5.5 percent, where they have been since July. After making a rapid series of increases that started in March 2022 and pushed borrowing costs to their highest level in 22 years as of this summer, officials have now held policy steady for three straight meetings.

 

Click on the link for the full article

[Cooked Crack]

 

Man ordering lobster tail and steak mad his delivery bill is $125

 

Edited December 14, 2023 by Cooked Crack

[Ball Security]

2 hours ago, Cooked Crack said:

 

Man ordering lobster tail and steak mad his delivery bill is $125

 

Similar to the one I saw about spending $50 for ingredients to make homemade chicken noodle soup. The spent about $30+ on a ton of spice jars where they’d only use a pinch for the recipe.

[skinsmarydu]

I would think all of that Outback would be more than $125 (with a proper tip). 

[hail2skins]

Reminds me of the famous David Brooks tweet about his burger and fries at Newark Airport being $80 when 75 percent of his bill was al-ke-hall.

[TheGreatBuzz]

12 hours ago, China said:

Federal Reserve Meeting Fed Signals Rate Cuts in 2024

 

Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation.

 

Interest rates are now set to a range of 5.25 to 5.5 percent, where they have been since July. After making a rapid series of increases that started in March 2022 and pushed borrowing costs to their highest level in 22 years as of this summer, officials have now held policy steady for three straight meetings.

 

Click on the link for the full article

 

I'm of the mindset they need to leave rates here.  Gives enough room to lower if needed for some reason in the future without having to go to zero.  And the economy shows it can handle rates here.  But that's not good foe reelection because people don't think far enough ahead.

[PleaseBlitz]

Mortgage rates are down into the mid-high 6s.  Lowest they've been since May.  

 

[TradeTheBeal!]

My Robin Hood account is about to achieve lunar orbit.

[PleaseBlitz]

And not far from where they were for most of the 2000's, which was a colossal housing boom.  

 

[TheGreatBuzz]

And we just sold a bunch of stock Wednesday.  😞

Edited December 14, 2023 by TheGreatBuzz

[Captain Wiggles]

3 hours ago, skinsmarydu said:

I would think all of that Outback would be more than $125 (with a proper tip). 

 

The filet and lobster tails should be around $100 alone. Dude musta had a coupon and left zero tip. 🤑

 

The dow jones is at a record high? Highest it's been in two years? How can this be? I was told this is the worst economy in the history of human civilization. 

[Ball Security]

3 minutes ago, Captain Wiggles said:

 

The filet and lobster tails should be around $100 alone. Dude musta had a coupon and left zero tip. 🤑

 

The dow jones is at a record high? Highest it's been in two years? How can this be? I was told this is the worst economy in the history of human civilization. 

Wait, wait, wait. The President has no effect on the market if it’s up in a non-Republican Presidency.

[hail2skins]

There's some tweet from Trump when he was president complaining about "how can I be impeached when the Dow is at a record high?"

[PleaseBlitz]

30 minutes ago, hail2skins said:

There's some tweet from Trump when he was president complaining about "how can I be impeached when the Dow is at a record high?"

Please find and post it. 

[hail2skins]

6 minutes ago, PleaseBlitz said:

Please find and post it.