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

[steve09ru]

On 12/14/2021 at 4:58 PM, CousinsCowgirl84 said:

The flip side of selling when the market is hot and having to pay a high price for a house is that when the market is low you might pay a lower price but also you will get a lower price for your house. So I wouldn’t make a decision to buy or sell based on the market.  Even if you a first time buyer waiting for a market crash doesn’t make a lot of sense if you have a choice.

The problem is equity when you buy high- you run the risk of eating a loss.  Buying low, even if you sold low, grants you opportunity of increase and equity. 

[CousinsCowgirl84]

31 minutes ago, steve09ru said:

The problem is equity when you buy high- you run the risk of eating a loss.  Buying low, even if you sold low, grants you opportunity of increase and equity. 

Depends on how long you plan to keep the house. How much rent is, ect. 

Edited December 15, 2021 by CousinsCowgirl84

[TheGreatBuzz]

Well since everyone else is sharing, I paid around $80k for my truck a little over a year ago and last time I checked KBB, it is worth……about $80k.

[Cooked Crack]

 

 

[China]

How millions of jobless Americans can afford to ditch work

 

One of the more insidious myths this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative.

 

Only trouble is, the numbers don't back it up.

Instead, early retirement — whether forced by the pandemic or made possible otherwise — is playing a big role in America's evolving labor market.

People have left the workforce for myriad reasons in the past two years — layoffs, health insecurity, child care needs, and any number of personal issues that arose from the disruption caused by the pandemic. But among those who have left and are not able to — or don't want to — return, the vast majority are older Americans who accelerated their retirement.

Earlier this month, ADP Chief Economist Nela Richardson said the strong stock market along with soaring home prices "has given some higher income people options. We already saw a large portion of the Boomer workforce retiring. And they're in a better position now."

In assessing the jobs recovery, economists have pointed out that while the unemployment rate has come down, the labor force participation rate hasn't improved at the same pace. But Jared Bernstein, a member of President Joe Biden's Council of Economic Advisers, said that once "non-prime age" workers — those over 55 — are excluded from the metrics a much clearer picture of how the labor recovery is doing emerges because it strips out the retirement narrative.

Last month, there were 3.6 million more Americans who had left the labor force and said they didn't want a job compared with November 2019, says Aaron Sojourner, a labor economist and professor at the University of Minnesota's Carlson School of Management.

Older Americans, age 55 and up, accounted for whopping 90% of that increase.

"I think a lot of the narratives imagine prime-age workers as being missing, but it actually skews much older," Sojourner told CNN Business.

 

Click on the link for the full article and video

[LD0506]

Psst: You want to know the truth about inflation? (It's not what the Fed thinks it is.)

Prices are rising because corporations have the power to raise them. They're using "inflation" as an excuse. The Fed is about to apply the wrong medicine.

 

 

 

https://robertreich.substack.com/p/truth-about-inflation?fbclid=IwAR0FvtfkI1Bor_iFKzjeaq7xEKiET70b6yzp86sl-8ZxKz6ujqN4v2Anppk

[CousinsCowgirl84]

45 minutes ago, LD0506 said:

Psst: You want to know the truth about inflation? (It's not what the Fed thinks it is.)

Prices are rising because corporations have the power to raise them. They're using "inflation" as an excuse. The Fed is about to apply the wrong medicine.

 

 

 

https://robertreich.substack.com/p/truth-about-inflation?fbclid=IwAR0FvtfkI1Bor_iFKzjeaq7xEKiET70b6yzp86sl-8ZxKz6ujqN4v2Anppk

Inflation is rising prices. Their can be many reasons.  There are many reasons.
 

But even when we accept your opinion piece at face value, corporations are raising prices because people are willing to pay more.

Slowing the economy; or even just signaling that you will, should have a negative impact on consumer demand and prices.

The article operates under the assumption that corporations should not increase prices unless the cost of what they produce is more than what they sell it for. They point out several companies who raised prices and who were making a profit. Apparently making a profit is bad.

 

I suggest everyone take a look at how monopolies set prices.

Edited December 18, 2021 by CousinsCowgirl84

[LD0506]

9 minutes ago, CousinsCowgirl84 said:

Inflation is rising prices. Their can be many reasons.  There are many reasons.
 

But even when we accept your opinion piece at face value, corporations are raising prices because people are willing to pay more.

 

So as usual, you proffer up a soundbite instead of actually reading the article

 

The monopolistic lack of competition is WHY they can jack prices, indifferent to what consumers think.

 

Your blithe acceptance of vampire capitalists is showing again.

[China]

 

[Cooked Crack]

 

 

[Larry]

Oh, no.  Obviously we must lower their taxes more.  To convince them to stay, and . . . create jobs, or something.  

 

 

[TradeTheBeal!]

I’m absolutely considering renouncing my citizenship pretty soon.  But not because I want to avoid taxes…because I want to avoid a christo-fascist theocracy.

[Captain Wiggles]

I still regret not getting my dual US Panamanian citizenship. 😒

[tshile]

On 12/18/2021 at 9:26 AM, LD0506 said:

The monopolistic lack of competition is WHY they can jack prices, indifferent to what consumers think.

Also, we’re applying mixed standards. 
 

we’re seeing what amounts to collusion to raise prices, or profiteering on a disaster, however you want to word it, which is anti-free market. But we’re using a free market standard of “well people are paying the prices.”  Then drawing this conclusion that means everything is ok. 
 

it never ceases to amaze me how little the supposedly-free-market-carnival-barkers actually understand and use free market principals. 
 

the wealthy find a way to suck money out of the system in good times and bad. And as long as certain people believe certain things, they’ll aways get away with it. 

[China]

[Larry]

US GDP.  Most recent data: Oct '21.  

 

$23.91T

Growth since a year ago: 10.6%.  

[Ball Security]

 

Not a math major, but that looks like double.

[Cooked Crack]

 

 

 

[China]

Believe it or not, the economy grew last year at the fastest pace since 1984

 

Last year saw the fastest economic growth since Ronald Reagan was president. But for many people, 2021 felt less like "Morning in America" and more like a restless night, dogged by fitful dreams about the ongoing pandemic.

 

The Commerce Department reported Thursday that the nation's gross domestic product grew 5.7% last year — the biggest increase since 1984. But the growth arrived in fits and starts, with hopes for a steady recovery repeatedly dashed by successive waves of infection.

 

And now, uncertainty continues in the year ahead, as the omicron variant continues to spread. Meanwhile, the Federal Reserve is gearing up to raise interest rates, perhaps aggressively, in an effort to combat stubbornly high inflation.

 

"It wasn't a straight line for the economy last year, for sure," said Mark Zandi, chief economist for Moody's Analytics. "The economy remains tethered to the pandemic."

 

Click on the link for the full article

[China]

Domino's will pay you $3 to not get your pizza delivered

 

acing a shortage of workers, Domino's Pizza is hoping to incentivize its customers to choose carryout over delivery.

 

Beginning Monday through May 22, Domino's will be "tipping" customers $3 if they order online and choose carryout. The credit can be used on a future online carryout order.

The promotion could help alleviate stress on its limited number of workers right before the Super Bowl, which is one of the company's biggest pizza sales days.

 

Click on the link for the full article

[LD0506]

[TheDoyler23]

1 hour ago, China said:

Domino's will pay you $3 to not get your pizza delivered

 

acing a shortage of workers, Domino's Pizza is hoping to incentivize its customers to choose carryout over delivery.

 

Beginning Monday through May 22, Domino's will be "tipping" customers $3 if they order online and choose carryout. 

 

Cute promotion, but they’d probably have fewer staffing issues if they would give the drivers the 5ish dollar delivery fee that they pocket for themselves as profit. 

[CousinsCowgirl84]

Dominos profit margin is about 12 percent.
 

Which means for every dollar they make they spend about 89 cent. So they make about 55 cent from that 5 bucks….

Edited February 1, 2022 by CousinsCowgirl84

[Ball Security]

29 minutes ago, TheDoyler23 said:

 

Cute promotion, but they’d probably have fewer staffing issues if they would give the drivers the 5ish dollar delivery fee that they pocket for themselves as profit. 

I remember years ago when gas prices were up (maybe after Katrina) and Papa John’s raised their prices in response.  Then I talked to a driver who said that drivers had to pay their own gas.

[Larry]

34 minutes ago, CousinsCowgirl84 said:

Dominos profit margin is about 12 percent.
 

Which means for every dollar they make they spend about 89 cent. So they make about 55 cent from that 5 bucks….

 

. . . she said, after assuming that they make the same profit margin on every line-item charge.  

 

41 minutes ago, TheDoyler23 said:

 

Cute promotion, but they’d probably have fewer staffing issues if they would give the drivers the 5ish dollar delivery fee that they pocket for themselves as profit. 

 

. . . and which encourages customers to tip less, because "Hey, they already charged me 5 bucks for the delivery."  

Edited February 1, 2022 by Larry