U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

That's not true. I don't see people jumping out of buildings like they did on Black Thursday. And, I don't see short sales of homes like we did during the Bush Great Recession. Wages are keeping pace with and exceeding inflation, the U.S. is doing better than any other nation post pandemic.

 

OR, you could be a piss poor manager.

 

The better analogy is that you are sitting in your parked car in your windowless garage, going nowhere at 0 mph, at the same time assuming that the world around you is also at a standstill. In reality, you are unaware of the world passing you by at 70 mph.

 

That's awfully ironic coming from someone that supports the party that is polishing the biggest turd of all time: Donald Trump.

 

Yes. that too describes the left and the dems- sitting there, thinking they are moving and unaware that by they have actually set the garage on fire....

Regardless of who is right or wrong in the silly arguments, the realities remain the same. If you refuse to recognize them, you don't even know problems exist- and you change nothing. Even if you recognize them, you have to come up with solutions- and then, you also have to convince all the people who refuse to acknowledge the reality that they must get off their ass, out of their box- and step up to the plate.

I keep asking myself how bad things have to get before the light comes on for those folks.

 

Meanwhile I keep asking myself how bad things have to get before the light comes on for those on the right.

Trump is currently the front runner for the Republican nomination. A sure sign that the light has not come on for many on the right.

 

Look at it this way. IF things are broken but you deny it and let it get worse.... it's a major disaster for the nation; and you lose.
IF things aren't bad but we take action to improve things when they are actually OK- there is no disaster, and you win- or at least don't lose anything other than president Dumbledore.

If you are wrong and don't act, you lose. If you are right, and corrections weren't critically needed, you still don't lose.

People aren't for Trump as a person, they are for a leader who will put America first, return to working for the people instead of preying on them, and get the country back to a place where you are proud to be a citizen of it. If Fergus T Whipplesnicker was the man who would make that happen, I'd vote for him.

 

I read your claim of 50 years business experience and being the CEO of 2 companies ..this is a impressive resume.

you seem rational and hopefully you can give a rational responce

below are a few observations I see in everyday life...can you explain how the economy effects these observations??

business in las Vegas is up 25% from pre-pandemic..think about it,,,25% this is HUGE...this needs repeating,, 25%
and this is despite that 43 other states have some form of legal gambling..sports betting used to be a vegas thing
to bet tomorrow's NFL games. most only need a credit card and a cell phone..
most big businesses pound their chest if they have a 5% increase.

companies like Netflix been able to raise rates and cut service with very little repercussions...why is this??
there has not been an exodus of subscribers due to rate increases..

why is EVERY city I visit seem to have many cranes littering the sky
new buildings seem to be going up everywhere.
are the developers wasting money and building something the public cannot pay for??

why is it every shopping mall seems full ...some are even expanding

if the economy is bad, how are ticket prices for the world series in the $1000 dollar range??

the banking business is booming...why?? are they doing well despite a bad economy

if interest rates went back down would it have a positive or negative effect on the ecomony??

I have read and listen to both sides of the discussion...both seem to have valid points

I look forward to reading your replies

 

LoL

 

Riiiiiiight. What’s good for the US is bad for FaUX and the Republicans.

 

Inability to respond on topic.

Pretending to have a clue about me.

Bringing up trump for no ****ing reason whatsoever.

It's hard to make such a short post so incredibly bad...congrats I guess.

 

So, you're saying that inflation and interest rates will be going up more. Yes, you are right on that.

 

I'd like to answer this in detail, however, I'm buried in personal projects of great importance, so it will be more summary in nature.

There are a few primary points.

When things are increasing in price, or shorter in supply- people try to stock up before they become too expensive or unavailable,
You may remember the way toilet paper sold a few years ago...

Housing is a necessity. About 3 years ago I suggested and helped a grandson buy his first home. His credit wouldn't support a loan; I financed it for him. The price was $100k. The interest rate was higher than the open market rate at the time, I charged him 4%. Today that home appraises at $204K. Today, interest rates are over 8%. My grandson has gained over $100K in net worth because he bought in a rising market- and people will do that, anticipating it will continue. Problem is, such trends are cyclical, and you have to be able to know when it's time to get in, time to get out. You can see that in the stock market all the time. Warren Buffet and others have explained the phenomenon for years, and it's a key part of my personal investment strategy. In 2020, my best single day gain in the market was over $100K. Today- I don't own any stock at all other than some mutual funds, because the conditions of the market are unpredictable. poised for a crash, being propped up by various schemes of the government.

Financially, what you are seeing is a balloon effect. Failing leadership wants you to see this as proof of good economy, because they are woking harder to present the image that keeps them in power instead of the performance, which is far harder to achieve. An image that's not true is a pending disaster. If you see past it, you do what you can to protect yourself and limit the damage. If you don't, you take the full hit.
How many times has a politician honestly warned you of such things? They simply emphasize what sounds good, suppress what sounds bad. So long as we tolerate that, constructed image IS the name of the game in politics. They all do this, but the level of the dishonesty changes widely.

Signs that tell you what the Administration won't-

Credit card debt is at an all time high. Card interest rates are too. Last year, users paid $130 Billion in credit card interest and fees; total card debt now exceeds $1 Trillion. The default rates on cards and other things like auto loans are at a record high.

The various forms of saving people have are also being tapped to subsidize the increasing shortfall between income and cost of living. In other words, people are using up their safety nets, and that can't go on forever. Those things allow prudent people to take a hit under normal conditions and bounce back, but once that buffer money is depleted, they are screwed. The wiser people are cutting back, living frugally, stretching every dollar. The foolish ones ignore the signs. Generally speaking, older generations with more experience in hard times prepare, younger ones deny the signs and do not.

The personal savings rate, the level of people laying back those buffer funds- is the lowest it has been since the mortgage crash. Forbes reports that 70% of Americans are using their savings to offset increasing costs. Grocery costs went up nearly 15% in 2022. The cola increase for those on social security this year has just come out at 3.2%. While that state is tough on the elderly, it is the middle class, the people making $40-$80k a year that are being hurt the most by inflation.

Signs like this are found all over the economy. If you are going to navigate the situation well, you have to look down the road- see what's coming, not just what's put in front of your face. If you fail to recognize that, everything that happens will catch you unprepared, and be a crisis. If you recognize it and are prepared, those things are more inconvenient than crises, and you work through them.

Imagine driving on the highway, and not looking at anything more than 100 feet ahead. It's like that.

Large companies are of course taking advantage of imprudent spending while they can, promoting the idea you should spend rather than save. However, at the same time, they are putting themselves on financial diets. This is found in things like the reduction in advertising, layoffs and moves to become more efficient. They are tightening their belts to prepare for harder times, even as they encourage their customers to loosen theirs. In my primary business, I've cut my own salary by 80% so that I don't have to cut others, and we deal with the lowest growth and profitability in 30 years. The people who work for us need confidence and security. We are totally upfront with our employees; they are not in the dark. That is not the norm.

Most businesses, like the politicians- don't want you to see an image that would cause you to tighten your belt, because that would impact theirs.

There's a long list of things that tell me what the future holds, but I don't have time to get into it all. Lastly- let me say that people are increasingly less savvy about these things. The internet has made it appear that understanding is not important, because with a few clicks, somebody will tell you what to think. That also makes you much easier to mislead, and a great many people are willing to do that when it benefits them. Along with the loss of "savvy", we have lost a great deal of the values that used to help us recognize bad situations and bad people- and that has made us a lot more vulnerable.

While we have made huge advances in mechanical and electronic technology- we have done the opposite in human capacity. We are far less capable of handling major life challenges than any generation of the past, and that adds to the danger. You may or may not understand or believe that, depending on the depth of your experience and age.

Today, the thing we need more than anything else- is honesty and competence in government. What we will settle for is what we will get, and we are being groomed to accept incompetence and illusions that protect the incompetence. I believe in people- but we are like computers in many ways. Capable of most anything, but limited by the programming we run with and the corrupted files that we allow ourselves to accept and run with. The elephant in the room is Congress, the branch of government that carries the responsibility of keeping the government and our systems clean and serving the people. It is also the role model in many ways- and you may have noticed, it does not follow its own rules. You may also know that when the rules aren't enforced- there are no rules.

Congress has good rules, and it has the constitutional power to immediately remove any member deemed unfit by the others, for any reason. That power was designed to give congress the ability to clean it's own house... They have used that power only twice in the 156 years since the civil war. If you would like to change that, you can help. I'm working on it.

 

Where there is economic growth and increase in wages, there is inflation.

 

Hey, maybe somewhere in there you are learning. So, if we don't want inflation and interest rates to increase then we should do our best to keep wages down. You're right again.

 

thanks for the reply.

no doubt you should run for office...

I ask a few simple questions and your reply begs more questions

 

I wouldn’t put it passed the government bureaucrats to cook the books for the Democrat administration and then walk it back with a “revised result” a couple of months from now. The “surprise results” are front page news. The “revised results” will be reported on page 30 of the New York Times, which features “All the woke news that is fit to print.”

 

Yep that’s the Republican way - squeeze the workers.

 

I disagree with the idea of government keeping wages down. Wages are something supply and demand should determining.

The Democrats have done their part in keeping wages low for low skilled workers. Those illegal immigrants, who chose to work, will increase the supply of low skilled labor, which will lower wages.

 

You do know that was a facetious comment, not a serious one you replied to?

 

The more inflation goes up the more wages don't keep up with it. You are constantly throwing gas on the fire and wondering why the fire keeps on getting bigger.

 

If you want inflation near 0, you absolutely must vote Republican.

The last 3 Republican POTUS took office when the economy was doing well and left a recession behind.

Bush Sr. Bush W and Trump.

85% of all jobs created since Reagan have been created by Democrat POTUS.

Since 1945, the country's average economic growth under a Democratic POTUS has been 4.1%, whereas it was 2.5% when a Republican was in power.

18 of the 20 poorest states are red, 16 of the 20 richest are blue.

Do you want more figures, or have you understood??

 

Millenials and GenZ aren't going to like these facts.

It puts a damper on their ever lasting pitty party.

 

What we actually get is entitlement.

 

Gringo-Let me add another.

https://www.foxbusiness.com/economy/treasury-dropped-financial-bomb-bidenomics-means-worst-yet-come

With all the chaos and heartbreaking loss of life around the world today, few noticed the Treasury Department drop a financial bomb:
he deficit for fiscal year 2023 was $1.7 trillion, growing 23 percent in a single year as the Treasury used $879 billion just to service the federal debt.

But "Bidenomics" means the worst is yet to come, and multi-trillion-dollar deficits are the new normal.

The impetus for these massive deficits is federal government spending, which tipped the scales at $6.1 trillion last year.
Government receipts, meanwhile, were $4.4 trillion, woefully short of the $5 trillion previously forecasted.
A slowing economy and counterproductive tax increases were key drivers behind the $457 billion drop in receipts from the prior fiscal year.

Don't know about you, but to me- this is a huge red flag. Unfortunately- one of many.