Where are we really at economically?

I complain mainly that Biden tries to minimize it and say it is no longer a problem since it is lower than before.

 

Same as it's been for the past 40 years off and on. Strong consumer market combined with high debt creating steady inflationary pressure resulting in the rich getting richer, and the poor getting poorer.

It's just a matter of when debt suffiently outpaces production to reach a critical mass. Unless regulators can manage to keep pumping the brakes to let it catch up.

 

By scrimping and saving. Other people bought large houses and cars. I bought more economical ones.

 

Where we are at is that most Americans are having trouble paying their bills without credit cards or withdrawing money from savings and retirement accounts. The poor that don't even have these things are in even worse trouble. Meanwhile, lefties want to convince us that everything's just going swell.

 

Bribed Joe blew the exit from COVID



More downward revisions:

'October and November were both revised downward in the latest report. "The change in total nonfarm payroll employment for October was revised down by 45,000, from +150,000 to +105,000, and the change for November was revised down by 26,000, from +199,000 to +173,000. With these revisions, employment in October and November combined is 71,000 lower than previously reported."'

So they come out with an inflated "Great" Number, then a few months later quietly revise it down, then measure the next month against the lowered revision.

So, for the purposes of illustration we'll use smaller numbers.

Wow we created 10!
Later they quietly revise that to 8.
Then, WOW we created 9, that's one more than last time! When actually it's a loss from their first claim that was made on the front page, while the downward revision is buried in the story, later.

'the job gains for 10 of the last 11 months of 2023 have all been revised downward. “Why? So that the White House can take credit for a strong number (one which also sparks algorithmic buying in the market) only to quietly revise it lower one and two months later when nobody's looking."'

https://pjmedia.com/matt-margolis/2...ell-you-about-the-latest-jobs-report-n4925243



Something broke in Dec. In just the month of December, according to the BLS, Bribed Joe lost a whopping 1.531 MILLION full-time jobs.

Outside of the COVID shutdown, we haven't seen anything like that in 30 years.

What a catastrophe.

 

Not really true unless you want to compare it to what it was on Trump's last day when the world was still sucking wind because of COVID. We are still one percent below where it was when COVID hit us.



https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm

Anyway, not making a point so much as correcting your apparent misconception about the economy and the participation rate. You can see it was trending down in December again so I am not sure what to make of that yet. We have seen a steady erosion of participation rates which possibly creates the illusion that unemployment is lower than it actually is. With studies suggesting that as many as half of job listings from major employers are ghost jobs with no open position behind them, I am beginning to suspect that employment numbers, however you get at them, are becoming a piss poor indicator of anything. But that's just me.

As for my take on the economy, blah blah blah I guess. We are still coming out of COVID, but we aren't there yet. The Fed still needs to do a lot of interest rate lowering before we are back to business as usual, but I fear that they are not going to do it anytime quickly (even in the next few years) for fear they could tank the real estate market.

 

Bingo. The dollar has lost more then 90% of its value over my lifetime.

 

avocadoes are cheap

 

I think it's an attempt to manifest. If people say the economy is good they'll believe it and spend. But they know better when they buy groceries.