Anybody buying silver or gold yet?
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The market definitely took a hit during the second quarter, and housing prices plateaued and dipped a bit too - considering that most of household net worth is wrapped in those two things, would average net worth still be higher than when Biden took over? (Since both are still way up from Jan 2021)
Credit card balances are up, savings down. Inflation is killing the poor and lower middle classes. It’s scary how quickly you can decimate an entire economy.
Credit card balances jump 13%, highest leap in over 20 years, as inflation outpaces wage growth
Americans now say they need to be making about $107,800 a year to feel financially healthy, roughly double the national average.
Americans’ Savings Rate Drops to Lowest Since 2008 as Inflation Bites
www.bloomberg.com
They actually declined in 2020 and 2021. But folks don't save money at all and haven't for years so they have to rely on credit cards.
The economy is actually doing pretty good. But too many folks have no emergency savings, nor do they save money on a regular basis.
Lots of companies still looking for workers too. Good opportunities out there. On Clark Howard's 9/1/22 podcast, he was talking about the number of companies now offering unlimited PTO for workers and other benefits as they try to attract employees.
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There's no doubt that's true. The FED rate hikes have been a significant factor in both of those cases. However, Biden printed approx. $4 trillion within months after taking office which pushed us to the debt ceiling and got everyone on edge about inflation and a recession.
I honestly can't figure out anything this admin has done so far that's in the best interests of the American people. Literally nothing. If anyone has a silver lining to any of this, please pass along.
But no one actually believes we are in a strong economy. Rich people getting richer is not a strong economy.
And have you ever listened to Esther George? Leaning on her for financial cues is the equivalent of leaning on Lori Lightfoot for law enforcement advice.
This is hard to believe and should concern us all.
Like him or not, Trump has never been indicted for a crime. For years, literally thousands of articles have claimed that this is imminent. They specifically hired an AG to “get Trump,” despite Congressional intent to do the same & the FBI after him for 6+ years - They have absolutely nothing other than the materials they maliciously manufactured. Meanwhile, Biden has been everything they warned us Trump was going to be.
Like him or not, Trump has never been indicted for a crime. For years, literally thousands of articles have claimed that this is imminent. They specifically hired an AG to “get Trump,” despite Congressional intent to do the same & the FBI after him for 6+ years - They have absolutely nothing other than the materials they maliciously manufactured. Meanwhile, Biden has been everything they warned us Trump was going to be.
Democrats, in general, are despotic vermin and are becoming more emboldened with their terrorism, conducted under the point of a government firearm or savage mob. Everything they accuse the right of being is exactly what they are. They are terrorists, narrow minded, racist, and have no fealty to the Constitution.
Another thing. I don't know if decent Americans will have to take up arms against the government at some point, but if they do, I hope they also remember the people that caused it to get to that point. And I am referring to the rank and file leftist that supports democrat terror by voting for and encouraging all of this. If it ever comes to it, those people need to be the first to face consequences, because they are not your friends and would have no issue with your life being ruined because you have a contrary point of view.
People believe all sorts of things. That's subjective.
Rich people have been getting richer for decades. This is not new.
Well, you might be. I'm not.
The organization that defines U.S. business cycles, the National Bureau of Economic Research (NBER), takes a different view. According to the NBER’s definition of recession—a significant decline in economic activity that is spread across the economy and that lasts more than a few months—we were not in a recession in the summer of 2022.
“We have a hard time believing the economy is in recession today, given a strong labor market and corporate earnings growth,” said Tim Holland, chief investment officer at Orion Advisor Solutions. “We also remind ourselves that recessions are uncommon, as our economy was in recession just 8% of the time over the past 30 years.”
and
This survey of corporate executives in industrial companies has been positive for a long time and remained so in August. According to this index, sentiment among executives has been positive—aka a reading above 50—for 27 consecutive months.
and
“We don’t yet think broad economic conditions are consistent with recession,” noted two Wells Fargo economists in a recent report. “But activity is slowing, and the trend decline in the index supports our view that the economy may slip into a recession by the beginning of next year.”
Are We In A Recession Yet?
For almost a year now, politicians, economists and financial professionals have been engaged in a great semantic debate over whether the U.S. economy is headed for recession or not. One common definition of recession—two consecutive quarters of negative gross domestic product (GDP)—happened in th
www.forbes.com
I'm not trying to convince you. I'm stating a fact.
“We have a hard time believing the economy is in recession today, given a strong labor market and corporate earnings growth,” said Tim Holland, chief investment officer at Orion Advisor Solutions. “
It's amazing that anyone believes Charlie Kirk or Steve Bannon. Bannon has lied so much, that even his own attorneys are having major problems with him.
Not to mention - as Dan Abrams pointed out this week- Steve Bannon stole money not from Liberals - but from Conservatives - and even though text messages prove it, they still defend the guy even though he was lying and continues to lie to them.
But that's what a cult does to you.
Steve Bannon ‘stole millions of dollars to line his own pocket,’ New York attorney general says – as it happened
Ex-Trump strategist charged with money-laundering and conspiracy over border-wall fundraising scam
Seek mental health treatment as soon as possible to hopefully stop your brain from continuing to rot and falling out of your ears. LOL.
Are we just tweet quoting random nobodies now? LOL
Joe Consorti
21 yo | Market Analyst
TheBitcoinLayer
Fact is recession is here and that’s the least of Americans problems. Sorry to burst your bubble skippy. You and Timmy hold on to each other real tight. Helps coming
Some real facts for you.
CEO of luxury furniture retailer RH insists the US is in recession
'I don't know, people keep saying, are we going to be in a recession? We're in a recession,' said Gary Friedman, the chief executive of RH, in an investor call on Thursday.
I did, and along with the scholarship it was only about $300. Not bad for a semester at USC. Now, i admit, this was the lowest amount I’ve ever paid for a semester. But a nice surprise since i have 2 in college now.
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I agree 100%.
It’s because they have totally opposing life values now, not just differences on policy.
As Conservatives adopted Trump’s style and have moved much further right, I could not follow. This exposed some very key value differences that caused me to leave. The mess after the election was just confirmation that it was a cult now.
I have not adopted some of the more leftward issues of Democrats but the opposition to gay rights and other social issues on the Right are things that my values will not allow me to accept.
So that is the rub now. It’s not just policy. The opposing values of people are irreconcilable
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Some real facts for you.
CEO of luxury furniture retailer RH insists the US is in recession
'I don't know, people keep saying, are we going to be in a recession? We're in a recession,' said Gary Friedman, the chief executive of RH, in an investor call on Thursday.mol.im
This is the problem with the anecdotes, everybody has one. That’s why we can’t rely on individual stories or even market segment stories.
part of my business is consulting with manufacturers. This is what i did before i retired early and now i do the same thing on a very part time basis.
this past week I was in North Carolina working with a client- a furniture manufacturer. The CFO and I were eating lunch and she told me that their business is actually booming right now.
Now, she did express concern about next year’s internal forecasts, but they’re doing fantastic right now. Their main issue is hiring, not their amount of work or profit.
Layoffs around the corner. This is gonna get bad. Real bad. Discretionary spending is down across the board. Gas prices have decreased because nobody is driving anymore except out of necessity. That alone tells you all you need to know. Pay attention to the obvious signs it’s clear as day.
I am optimistic either way.
One thing rush limbaugh use to say- of course he was a hypocrite about it- but- don’t operate from fear.
I feel certain there will be ups and downs. The downs always bring some great opportunities.
Yeah your right. China never wastes opportunities. They’ve done a great job of creating them lately with Russia. Deadly duo’s for sure. Perfect timing since they face zero resistance.
Well, the last thing Americans want is a war with either or needlessly raising tensions with no end game.
And a trade war is always a fool’s errand.
A Libertarian take
Trump's Trade Deal With China Was an Abject Failure, Just Like the Trade War
Managed trade has failed once again. The so-called "phase one" trade deal inked in December 2019 by former President Donald…
reason.com
Yeah. In the deleted student loan forgiveness thread you said you told him you would help with things like books, but wouldn't pay tuition. You know, the same thread where you said the loan forgiveness would help your son? I found that claim somewhat vexing, because in August you said "he will have virtually no debt." Then I remembered I was dealing with a serial liar and it put my mind at ease.
BTW, did your son transition? Because at times your oldest at USC was your daughter. Perhaps you should retire for what, the 38th time, so you could focus solely on keeping your lies straight.
Gonna be a war because surrender not an option. Just a matter of timeWell, the last thing Americans want is a war with either or needlessly raising tensions with no end game.
And a trade war is always a fool’s errand.
A Libertarian take
Trump's Trade Deal With China Was an Abject Failure, Just Like the Trade War
Managed trade has failed once again. The so-called "phase one" trade deal inked in December 2019 by former President Donald…
I'm willing to wager a majority of both sides have more in common than they think.Its the few and loudest making it seem like were so far apart, this is from both sides.But that's all gets reported.Both sides claim each other is evil, liers, and cheats. From my perspective, I do see republicans(as a few on here do) put all democrats in 1 box, which is nonsense.that's no different when you see a Mexican, Asian etc get harassed and get told to go back where you came from.There will always be division, people just have to compromise.I like both sides ideas, Maybe we need a state where just republicans live and where democrats live.That way they can have there own rules to live by.People need to put aside there differences.My best friend of 40 years is a die hard Clemson fan.We don't like each others teams but pick on each other about it.i know a married couple got a combo flag and they hang it out this time of the year.The extremist is always going to be disappointed and will never be happy.
LOL
Which screen name are you using now?
A 4 year degree takes about 4 years. You clearly don’t understand so i will help.
my son took out a loan to help pay for tuition and a dorm earlier in his college days. A scholarship covered most of tuition. After your freshman year, the life scholarship enhancement becomes available if your GPA is high enough.
The $300 I paid in August was part of a parking garage fee. Everything else for the semester was covered by scholarships.
Which lie are you telling now? You said your son, who used to be your daughter, depending on what lie you are in the mood for, had virtually no debt. Now he has a student loan. So in August you claimed you would be paying tuition for two sons, now it's only a parking fee. The truth is, I'm your intellectual better and can keep up with your lies better than you, and I'm your moral better, as I don't lie like you.
I hear people say this but I disagree. I think both sides have less in common than most people are willing to acknowledge. and less in common every passing year.
I heard a guy on Sirius radio talking about this recently. He was talking about how in decades past people would work all day and in the evenings people would gather like in bowling leagues, or Shriners groups - or some sort of thing like that. They'd meet and talk and could even talk politics but they knew each other and liked each other even if they disagreed. People don't really do that anymore. Those days are almost totally gone.
This is true but the loudest in the crowd set the agenda and drive the train. Cable news hosts now set the agenda in most cases- even though most of what they are saying on tv is not have they live their own private lives.
I agree. People tend to that. That's because most people do not spend any time with folks that disagree with them politically. All they see of them is online and or on tv - where the loudest voices and most extreme people get the publicity.
I mean, I realize not every Republican is extreme as Tucker Carlson or Sean Hannity.
Compromise is a dirty word now. Cable news and radio talk show hosts rip to shreds anyone that even suggests compromise. Our primary election system- on both sides- is set up to reward the most extreme positions and candidates. It's not current set up to reward those that seek common ground.
That's just not going to happen. It's a nice thought but it just doesn't work that way anymore.
A wise person would realize that I am not going to be telling a bunch of random folks the makeup of my family. Again - it takes a wise person. LOL
You talk about them a lot. The more you post, the more you lie. Whether it's made up sons, daughters, nieces, nephews, you can bet it's a lie.
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