American Economics Thread

[Deleted member 15949]

Economy growth almost similar to inflation lol.

+6.5% is real

 

[Deleted member 15949]

@caudaceus so bro a growth of 1%.

No, it's +6.5%. Headline GDP growth is always adjusted for inflation with the deflator

 

[siegecrossbow]

initial unemployment claims at 400k, bad sign for next week's job report.

inflation, inflation, inflation,

inflation is the most important thing to watch now. Donald Trump always brags he is the only one that matters, economically inflation is the only thing that matters now.

I think Trumps original plan was to bolster the stock market and economy during his eight-year tenure by cutting rate/taxes. Even if the economy fails when he is no longer president, people, or at least the Republicans, will look back to his reign as the "Golden Years" and if a Democrat succeeds him, they could blame liberals for ruining the economy. It actually worked really well till COVID threw a wrench into the whole plan.

On second thought I don't think that COVID changed anything fundamentally with the U.S. economy. What it ended up doing was acting as a catalyst and sped up the process by one or two decades and laid to bare all the fissures that laid underneath a booming stock market.

 

[DarkStar]

Well, considering this is related to company profit.

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"American values"are under attack

Guess America’s oligarchs are just gonna have to go back to throwing pizzagate parties

I think Trumps original plan was to bolster the stock market and economy during his eight-year tenure by cutting rate/taxes. Even if the economy fails when he is no longer president, people, or at least the Republicans, will look back to his reign as the "Golden Years" and if a Democrat succeeds him, they could blame liberals for ruining the economy. It actually worked really well till COVID threw a wrench into the whole plan.

On second thought I don't think that COVID changed anything fundamentally with the U.S. economy. What it ended up doing was acting as a catalyst and sped up the process by one or two decades and laid to bare all the fissures that laid underneath a booming stock market.

There are decades where nothing happens… then there are weeks where decades happen
- Lenin

 

[LesAdieux]

I think Trumps original plan was to bolster the stock market and economy during his eight-year tenure by cutting rate/taxes. Even if the economy fails when he is no longer president, people, or at least the Republicans, will look back to his reign as the "Golden Years" and if a Democrat succeeds him, they could blame liberals for ruining the economy. It actually worked really well till COVID threw a wrench into the whole plan.

On second thought I don't think that COVID changed anything fundamentally with the U.S. economy. What it ended up doing was acting as a catalyst and sped up the process by one or two decades and laid to bare all the fissures that laid underneath a booming stock market.

no, it's different now.

the US government thinks it has a quick dirty way to fix every economic and financial crisis: when bubble bursts, start the printing press and spend. it can spend its way out, and get away with it. it has done it three times in the past 20 years: the IT bubble, the subprime bubble, and the covid. and this time it may have run out of its luck, inflation is coming....

Powell is still trying to be a nice guy, he doesn't want to say anything might upset the market. he hasn't realized that he is significantly behind the curve, and he doesn't have the luxury to be nice.

 

[siegecrossbow]

Guess America’s oligarchs are just gonna have to go back to throwing pizzagate parties

There are decades where nothing happens… then there are weeks where decades happen
- Lenin

2020 is the year when nothing and everything happened.

 

[phenelzine]

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[LesAdieux]

and inflation is trending higher:

measured by Fed's own favorite inflation index: the core personal consumption expenditures inflation up 6.1% in Q2, the highest since 1983.

 

[Kaeshmiri]

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Well any economy would recover to Pre Pandemic position after pumping $6tn into it. With this kind of stimulus US economy should be booming rather than just recovering.

 

[FairAndUnbiased]

Well any economy would recover to Pre Pandemic position after pumping $6tn into it. With this kind of stimulus US economy should be booming rather than just recovering.

This is a massive destruction of wealth actually.

Handing out $6T should theoretically increase GDP by $6T minimum. The fact that it didn't, and in fact is much smaller, indicates that value was destroyed.