Financial Crisis - 2024

Bidenomics at its best:

https://www.foxbusiness.com/economy/layoffs-surged-january-second-highest-level-record

rick1 wrote:Bidenomics at its best:

https://www.foxbusiness.com/economy/layoffs-surged-january-second-highest-level-record

Proof that we cannot trust on the news

https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html

Dave58 wrote:

rick1 wrote:Bidenomics at its best:

https://www.foxbusiness.com/economy/layoffs-surged-january-second-highest-level-record

Proof that we cannot trust on the news

https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html

I saw that when I posted mine. Seems every month corn pops people come out later with an adjusted jobs report number. Curious to see how many they take off the 353000 number.

Reality takes a hard bite out of the Leftist Fantasy.

As always, my "go to" guy for financial analysis (but not political or military analysis) is Mish Shedlock.

Manufacturing is still in a funk. And Manufacturing is a big deal, if you look at what creates wealth, rather than political talking points in an economy.
https://mishtalk.com/economics/ism-manufacturing-still-contracting-but-new-orders-turn-positive/
The bottom line number here is that the index has been below 50 for 15 straight months. That means five quarters, in recession.

Headline numbers never tell the whole story, so Mish does a deep dive, every month:
https://mishtalk.com/economics/ignore-the-amazing-headline-job-numbers-note-the-revisions/

The massive discrepancy between jobs and employment continues. Revisions make it worse but due to reporting practices we cannot see actual month-by-month totals.

However, data continues to suggest the discrepancy is very suggestive of people working extra part time jobs to make ends meet or to fill spots by boomer retirements.

Then, at the end, he says this:

I will cover the as reported data in my next post. Here’s a teaser. Full time employment is below the level in February of 2023!

Bidenomics at its best, oh, they don't use that saying anymore 'cause most people aren't as stupid as joe crow 2.0:

https://www.foxbusiness.com/economy/ppi-wholesale-inflation-january-2024

rick1 wrote:Bidenomics at its best, oh, they don't use that saying anymore 'cause most people aren't as stupid as joe crow 2.0:
https://www.foxbusiness.com/economy/ppi-wholesale-inflation-january-2024

From your link:

The Labor Department said Friday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, jumped 0.3% in January from the previous month. On an annual basis, prices remain up 0.9%.

Those figures are both higher than the 0.1% monthly gain and the 0.6% annual figure predicted by Refinitiv economists.

Those figures are both lower than reality, too.

Department of Labor has been cheating on inflation numbers for decades.
(Especially when Obama and Biden are in office.)

Heading towards a 1970's style stagflation:

https://www.foxbusiness.com/economy/jpmorgan-warns-investors-should-brace-1970s-style-stagflation

I was at the store yesterday and was talking to the butcher (same guy cuts my beef), he said that beef will be going up anywhere from 1.50 to 2.00 a pound, starting around summer time.

Good for me but not too good for the consumer. If the prices raise that much, I'll butcher as many as I can, money in the bank.


https://thehill.com/homenews/nexstar_media_wire/4465781-beef-prices-could-hit-record-highs-in-2024-experts-warn-heres-why/

rick1 wrote:I was at the store yesterday and was talking to the butcher (same guy cuts my beef), he said that beef will be going up anywhere from 1.50 to 2.00 a pound, starting around summer time.
Good for me but not too good for the consumer. If the prices raise that much, I'll butcher as many as I can, money in the bank.
https://thehill.com/homenews/nexstar_media_wire/4465781-beef-prices-could-hit-record-highs-in-2024-experts-warn-heres-why/

My understanding is that there will be a mild, but protracted beef shortage. Just enough to keep prices up. Maybe for as long as thee years. Hope you can realize some gains, from it.

Joe crow 2.0 and his bidenomics are at it again, hang on to your hat, or wallet:

https://www.foxbusiness.com/economy/former-white-house-economist-warns-bidens-budget-catalyzes-economic-

What's this, oh, inflation up again, thanks cornpop:

https://www.foxbusiness.com/economy/cpi-inflation-february-2024

Here's the energy and food inflation the demonrats don't talk about:

https://datavisualizations.heritage.org/markets-and-finance/the-biden-inflation-tracker/

This was updated February, bidenomices at its best:

https://datavisualizations.heritage.org/markets-and-finance/the-biden-inflation-tracker/

Credit card debt is now over $1.13 trillion dollars, another demonrat record:

https://www.usatoday.com/story/graphics/2024/02/07/us-credit-card-debt-hits-trillion/72505645007/

OH, see if you can afford to buy a home right now or send your kid to college, most can't.

joe crow 2.0 economics at work in Pennsylvania.

My electric bill, since corn pop has taken office has gone up 23.8%. Got a notice in the mail today with my electric bill that first energy (penelec) is requesting from the PUC to raise the rates again. This time a 9.8% increase.

https://www.yourerie.com/news/pennsylvania-news/penelec-looking-to-raise-prices-for-pa-customers/

This is just one rate increase from last year, 2023

https://www.altoonamirror.com/news/local-news/2023/11/penelec-announces-9-3-rate-increase/

This rate increase is from the year before, 2022

https://www.yourerie.com/news/local-news/penelec-increasing-prices-15-starting-june-1-erie-residents-react/

But the babbling idiot from DC says the economy is doing great, what a  

Get prepared to pay more, for EVERYTHING:

https://www.washingtonpost.com/climate-environment/2024/04/12/oil-drilling-federal-lands-biden/

Capital gains tax of 44.6%, "How to ruin an economy, by Joe Biden:"

https://www.foxnews.com/politics/bidens-capital-gains-tax-proposal-could-have-major-economic-impact-experts-say

rick1 wrote:joe crow 2.0 economics at work in Pennsylvania.

My electric bill, since corn pop has taken office has gone up 23.8%. Got a notice in the mail today with my electric bill that first energy (penelec) is requesting from the PUC to raise the rates again. This time a 9.8% increase.

https://www.yourerie.com/news/pennsylvania-news/penelec-looking-to-raise-prices-for-pa-customers/

This is just one rate increase from last year, 2023

https://www.altoonamirror.com/news/local-news/2023/11/penelec-announces-9-3-rate-increase/

This rate increase is from the year before, 2022

https://www.yourerie.com/news/local-news/penelec-increasing-prices-15-starting-june-1-erie-residents-react/

But the babbling idiot from DC says the economy is doing great, what a  

PUC puts First Energy's proposed electric increase on  hold until they investigate the half trillion dollar increase.

It's about time the PUC looks out for the little guy:

https://www.puc.pa.gov/press-release/2024/puc-to-investigate-firstenergy-s-503-million-rate-increase-requests-for-electric-distribution-services-04252024