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Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing


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38 minutes ago, Big Blitz said:

More from State Run News!

 

NO RECESSION!!!

 

 

 

Did the U.S. economy really shrink in early 2022? Is a recession near?  No, and here’s why

 

The surprising contraction in the U.S. economy in the first quarter has been written off by Wall Street as a misleadingly weak number that in no way signals an oncoming recession.

 

So how well did the economy really perform?

 

Not bad, it seems. Maybe even pretty good, economists say.

 

“The first quarter was not as bad as it looks at first glance,” said chief economist Bill Adams of Comerica Bank in Toledo, Ohio.

 

A better way to assess the economy’s performance, economists say, is to look at final sales to U.S. customers. Simply put, the measure strips out exports and inventories and focuses on how much stuff Americans are buying from U.S. and foreign sellers.

 

Can the good times last?  YES THEY ACTUALLY WROTE THAT!

 

Economists predict GDP will accelerate to a 2% clip in the second quarter, but as always, the devil will be in the details. The U.S. could be facing tougher times with the Federal Reserve raising interest rates and more turbulence overseas.

 

https://on.mktw.net/3KuFCkF

 

 

Freaking Stupid Federal Resrve.  And Russia!

To bankers and analysts whose salaries and $300K+ compensation packages & million dollar bonuses depend on peddling the "growth" story nothing ever looks bad.  Don't expect negative opinions to ever come out of their mouths or get typed into their keyboards.  The economy would need to grow at a 10% nominal clip to account for 8% inflation plus 2% real growth.  Just remember whatever bad happens is Putin's fault and whatever good happens is due to Biden's adept handling of the economy. 

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How'd everyone's 401K or pensions doing today?

 

 

Dow tumbles more than 900 points Friday, Nasdaq books worst month since 2008 crash

 

The Dow Jones Industrial Average _ fell about 938 points, or 2.8%, ending the session near 32,977. Continued carnage in technology-related stocks left the S&P 500 index _ down 3.6% on Friday, while the Nasdaq Composite Index _ lost 4.2%. It also marked the worst month for the Dow and S&P 500 since March 2020, but the 13.3% monthly skid for the Nasdaq was its biggest drop since October 2008, according to Dow Jones Market Data.

 

http://www.marketwatch.com/story/dow-tumbles-more-than-900-points-friday-nasdaq-books-worst-month-since-2008-crash-2022-04-29

 

 

 

Dam guys.  Biden didn't even need a self inflicted shutdown to pull this off!

 

 

 

Congratulations Branch Covidians give yourselves a round of applause excellent work all around give it up for yourselves nice job!!!

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BUT ITS NO BIG DEAL WE SWEAR!!!

 

This is insane.  We are borderline North Korea...

 

 

 

Foreclosure filings are up 132% from a year prior. Here’s what that means for the housing market (and it’s not what you might think)

 

That the number of active foreclosures (this is when the foreclosure process has begun on a seriously delinquent loan, but it has yet to be completed and liquidated) edged up by more than 7,000 in March — the first year-over-year increase in almost 10 years, according to mortgage technology, data and analytics provider Black Knight. Secondly, more than 78,000 U.S. properties had a foreclosure filing during the first quarter of 2022, which is up 39% from the previous quarter and up 132% from a year ago, according to real estate analytics company ATTOM. And third, serious mortgage delinquencies — those 90 or more days past due — are 70% higher than they were pre-pandemic, according to Black Knight. 

 

While those numbers seem grim, pros say the reality isn’t as bad as it looks: 

 

 

https://www.marketwatch.com/story/foreclosure-filings-are-up-132-from-a-year-prior-heres-what-that-means-for-the-housing-market-and-its-not-what-you-might-think-11651351836

 

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this is fine GIF

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ACTUAL HEADLINE!  And one man is going to save our economy just like we all planned this out!

 

 

Jerome Powell wants to say ‘Bye bye bye’ to inflation as he dusts off the Fed’s early- 2000s playbook

 

https://fortune.com/2022/05/04/jerome-powell-inflation-federal-reserve-rate-hike-nsync-volcker/

 

 

 

bye bye bye justin timberlake gif GIF

 

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10 minutes ago, Boatdrinks said:

Lesson : don’t f*#% with the supply of oil. It literally drives the US economy. 

And all I hear is from the green energy crowd is how solar panels and windmills are going to enable a future of endless prosperity and abundant and reliable renewable energy. 

 

Also a headline from today's stock markets: Sinko de Mayo.

 

More good news for Joe.  Expecting next accusations from the President's few remaining supporters that Jerome Powell is working for Putin too. 

 

 

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25 minutes ago, B-Man said:

 

From CNBC........

 

 

 

 

Love this:

 

"Fed Chairman Jerome Powell said at his post-meeting news conference Wednesday that he still sees the U.S. in a strong position though inflation must be tamed if the recovery is to remain strong."

 

 

Wow.  We're in recovery.  Imagine what boom time must look like!  

 

 

 

One thing about "productivity."  Unintended consequence of the Self Inflicted Democrat Insurrection in March 2020 - subconsciously in the back of everyone's mind - "I don't want to be here....I don't think I even have to be here......I definitely don't want to be here......why am I even here?"  

 

That's the attitude of the Return to Workforce.  They had 18 months "off" and life went on just fine.*  Checks kept coming in.  A little work from the Zoom in their pajama pants.  Why can't we just do that forever things we're great!

 

 

 

 

*Not for the kids and not for normal people 

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Austan Goolsbee says don’t be fooled by the topline number:

 

 

And Jason Furman says the White House happy talk on wages may be even more empty than usual:

 

 

 

Yeah, but who’s listening to those far-right, MAGA …............. Obama advisors?

 

 

https://hotair.com/ed-morrissey/2022/05/06/apres-le-fed-deluge-428000-jobs-added-in-april-unemployment-rate-level-at-3-6-n467441

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34 minutes ago, SoCal Deek said:

This cannot be possible! Liz and Bernie promised everything would be perfect once we forced Burger King to pay $15 per hour. Maybe this is what perfection looks like. 

Stop buying stuff, hat will drive down prices 

 

A Whopper sounds real nice though. 

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On 5/6/2022 at 2:56 PM, Tiberius said:

Stop buying stuff, hat will drive down prices 

 

A Whopper sounds real nice though. 

Make sure to use a coupon which Burger King typically sends via flyers in the mail.  Whopper for two offer is good.  Two Whoppers, two fries, and two drinks for $8.99.  Unknown to most is you can sub out onion rings for fries without additional charge if you ask.  McD's also has buy one, get one for $1 offer on Big Mac and Quarter Pounder and a few other items.  

 

Another thing I'm seeing go up in price a lot is Subs from local shops and the big chains.  Up about 20% in just about 6 months.

 

And happy Mother's Day to all mothers and everybody's mom on the board here.. 

 

 

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15 minutes ago, All_Pro_Bills said:

Make sure to use a coupon which Burger King typically sends via flyers in the mail.  Whopper for two offer is good.  Two Whoppers, two fries, and two drinks for $8.99.  Unknown to most is you can sub out onion rings for fries without additional charge if you ask.  McD's also has buy one, get one for $1 offer on Big Mac and Quarter Pounder and a few other items.  

 

Another thing I'm seeing go up in price a lot is Subs from local shops and the big chains.  Up about 20% in just about 6 months.

 

And happy Mother's Day to all mothers and everybody's mom on the board here.. 

 

 

I eat a lot of healthy food, but also a lot of junk food. Chicken wings have just gotten too damn expensive so I've started eating Burger King more. 

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34 minutes ago, Tiberius said:

I eat a lot of healthy food, but also a lot of junk food. Chicken wings have just gotten too damn expensive so I've started eating Burger King more. 

So what you’re saying is that you eat “a lot” of food. 😉 👍

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1 hour ago, All_Pro_Bills said:

Make sure to use a coupon which Burger King typically sends via flyers in the mail.  Whopper for two offer is good.  Two Whoppers, two fries, and two drinks for $8.99.  Unknown to most is you can sub out onion rings for fries without additional charge if you ask.  McD's also has buy one, get one for $1 offer on Big Mac and Quarter Pounder and a few other items.  

 

Another thing I'm seeing go up in price a lot is Subs from local shops and the big chains.  Up about 20% in just about 6 months.

 

And happy Mother's Day to all mothers and everybody's mom on the board here..

 

Their apps have good deals on them.  And you can accumulate points towards free food.

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On 5/8/2022 at 5:06 AM, Tiberius said:

I eat a lot of healthy food, but also a lot of junk food. Chicken wings have just gotten too damn expensive so I've started eating Burger King more. 

 

I can't remember the last time I ate at a fast food place.  Pre-pandemic maybe? 

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17 minutes ago, aristocrat said:


 

the pain is the point 

I'm mildly impressed he actually used the word inflation - that's pretty bold. His handlers/caregivers must have finally realized "Putin's price hike" & "rising prices" were not winning over hearts & minds

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31 minutes ago, BuffaninSarasota said:

I'm mildly impressed he actually used the word inflation - that's pretty bold. His handlers/caregivers must have finally realized "Putin's price hike" & "rising prices" were not winning over hearts & minds

 

Don't be.  They know it's a huge problem so they can't hide from it.  But they're still blaming it on Putin and now "the ultra-MAGA agenda," WTF that is. :rolleyes:

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52 minutes ago, Doc said:

 

Don't be.  They know it's a huge problem so they can't hide from it.  But they're still blaming it on Putin and now "the ultra-MAGA agenda," WTF that is. :rolleyes:

Biden's pitch comes off as weak, and full of excuses while providing no solutions and sounding like a loser.  He sounds consistent with what I recall of what was a typical Dick Jauron post-game press conferences after a loss. 

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1 hour ago, Chef Jim said:


I liked it too. Just get out of my way ya *****. 

You liked it because you’re a fat cat rich money guy.  You’re part of the work 40+ years saved and invested in his own future lottery clique.  I bet you even paid off your own debts, ya selfish bastage. 
 

Edited by leh-nerd skin-erd
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2 hours ago, All_Pro_Bills said:

Biden's pitch comes off as weak, and full of excuses while providing no solutions and sounding like a loser.  He sounds consistent with what I recall of what was a typical Dick Jauron post-game press conferences after a loss. 

 

Talking about a tax plan by 1 Senator with no support by anyone else is the last gasp of a party realizing it's going to get destroyed in November.

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2 hours ago, leh-nerd skin-erd said:

You liked it because you’re a fat cat rich money guy.  You’re part of the work 40+ years saved and invested in his own future lottery clique.  I bet you even paid off your own debts, ya selfish bastage. 
 


Yeah I’ll admit it. You’re 100% right.  I suck. 😒

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