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

[B-Man]

As usual, initial reporting was high

 

 

Private payrolls grew by just 132,000 in August, ADP says in reworked jobs report

 

Private payrolls grew by just 132,000 for the month, a deceleration from the 268,000 gain in July, ADP said in its monthly payroll report.

 

August’s numbers add to the inflation worries, as the firm reported annual pay up 7.6% for the month.

 

https://www.cnbc.com/2022/08/31/adp-jobs-report-private-payrolls-grew-by-just-132000-in-august.html

 

 

 

 

.

[Tiberius]

 

[Tiberius]

Labor participation rate up by 800k 

 

Nice 

[All_Pro_Bills]

2 hours ago, Tiberius said:

Labor participation rate up by 800k 

 

Nice 

People getting flushed out of mom's basement by higher cost of living.  Individuals with multiple job at record level too. 

[Tiberius]

Just now, All_Pro_Bills said:

People getting flushed out of mom's basement by higher cost of living.  Individuals with multiple job at record level too. 

Complaining about people going back to work? 

 

[B-Man]

 

 

Remember, there is no Recession

 

https://www.bloomberg.com/news/articles/2022-09-02/amazon-closes-abandons-plans-for-dozens-of-us-warehouses

 

 

 

[OrangeBills]

On 9/2/2022 at 11:29 AM, Tiberius said:

Complaining about people going back to work? 

 

you don't know how this works

 

The Participation Rate did not actually go up 800,000, they simply moved the number to make unemployment look better so the Fed will have SOME room to avoid a Depression as they try to stave off Biden's Inflationary Spiral.

 

You probably have no idea how they accumulate this information, it's just more gov't "survey" and "estimate/extrapolation" work (kind of like the Flu data pre-COVID).

[Tiberius]

14 hours ago, OrangeBills said:

you don't know how this works

 

The Participation Rate did not actually go up 800,000, they simply moved the number to make unemployment look better so the Fed will have SOME room to avoid a Depression as they try to stave off Biden's Inflationary Spiral.

 

You probably have no idea how they accumulate this information, it's just more gov't "survey" and "estimate/extrapolation" work (kind of like the Flu data pre-COVID).

LOL, it actually made the unemployment rate go up. 

 

Go back to school moron 

[Irv]

1 hour ago, Tiberius said:

LOL, it actually made the unemployment rate go up. 

 

Go back to school moron 

 

Do you actually know how unemployment is measured?  What a mess.  

[OrangeBills]

7 hours ago, Tiberius said:

LOL, it actually made the unemployment rate go up. 

 

Go back to school moron 

 

Actually, LOL right back.  Of course it made the Unemployment rate go higher.  That's the entire point.

 

This may be above your depth, it is for most Leftists who don't know how the world actually works...but I'll help you here...

 

We are about to head into a major Recession, which I hope will not become a Depression, because of the Biden Admin's outrageous and profligate spending.  The Federal Reserve will have to continue raising rates, which will destroy economic activity fairly quickly (you can't raise IRs 300-400bps in a Levered system, it's just too dangerous, however Biden's disgusting Inflationary initiatives have forced their hand).

 

The ONLY thing that would allow the Fed to stop lifting rates would be a higher Unemployment rate...but the problem is the Leftists' own policies have destroyed the work-force, so the Participation rate is down.  This is inflationary too (Socialism).  

 

So, because there's nothing that can be done here, they announced that the Participation rate "jumped" 0.3 points in the month of AUGUST, which is utterly absurd and markets saw through it which is why they crashed again on Friday.  

 

This data series (Unemployment and Participation Rates) are basically 10%-informed figments of the Govt's imagination...the Survey Report is just fantasy (do you know anyone that's every had a BLS employee call or show up at their house?  Of course not.   

 

The govt is lying to us, just like with COVID.

[Doc]

Yup, all to avoid the bloodbath at the mid-terms, that's coming anyway.

[BillStime]

32 minutes ago, Doc said:

Yup, all to avoid the bloodbath at the mid-terms, that's coming anyway.

Is it?

[All_Pro_Bills]

OPEC+ agreed to reduce output by 100K bbl/day starting in October.  European oil and gas markets react with higher prices as US markets are closed for Labor Day.  

[TSOL]

8 minutes ago, All_Pro_Bills said:

OPEC+ agreed to reduce output by 100K bbl/day starting in October.  European oil and gas markets react with higher prices as US markets are closed for Labor Day.  

 

 

Probably is a good idea to start chopping wood I guess. 

[Big Blitz]

3rd world dump

 

 

 

[B-Man]

 

NASDAQ on a 7 day losing streak.

But hey, how bout those MAGA extremists. 

 

 

 

[B-Man]

 

 

 

Biden took a booming economy without inflation and turned it into a high-inflation bust

by Larry Kudlow

 

There's a growing view inside the mainstream media that Joe Biden's recent legislative victories and his recent speeches that MAGA Republicans are a threat to democracy and are "semi-fascists" are going to give the Democrats some midterm momentum and they're going to overtake the GOP by snatching victory from the jaws of defeat. I'm not buying it and here's why you shouldn't either.

 

First of all, the new legislation is not popular. By 36% to 12%, an Economist-YouGov poll shows that voters believe the IRA legislation will actually increase inflation.

 

https://www.foxbusiness.com/media/larry-kudlow-biden-booming-economy-without-inflation-turned-high-inflation-bust

 

 

 

 

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[B-Man]

 

DON’T WORRY, I’M SURE TRANSPORTATION SECRETARY BUTTIGIEG* WILL SORT IT OUT: 

 

 

Potential rail strike threatens to kneecap US economy ahead of midterms

 

More than 9 in 10 railroad workers would vote to reject the PEB recommendations and go on strike, according to a recent survey from the organization.

 

Still, Kaminkow noted that workers could change their minds when faced with the prospect of years of back pay and the reality that Congress can take away their main source of leverage at any time.

 

Federal law gives Congress the power to block or delay a railroad strike. If workers were to walk out, lawmakers could vote to enact the PEB deal or appoint arbitrators to fast-track a new contract, among a range of other options.

 

The Association of American Railroads, which estimates that a national rail shutdown would cost the U.S. at least $2 billion a day, said that lawmakers should vote to implement the PEB recommendations in the event of a strike to “instantly reward employees and reduce economic uncertainty.”

 

Experts say that an extended walkout would devastate industries that rely on freight to transport grain, coal, diesel, steel and motor vehicle parts. Shipping containers would pile up at ports, severely congesting supply chains and sending prices soaring ahead of the holidays.

 

“The railroads are actually very critical to the nation’s economy, and also to security. There’s a lot of hazardous stuff that simply can’t go by road,” said Nicholas Little, director of railway education at Michigan State University’s Center for Railway Research and Education.

 

 

https://thehill.com/business-a-lobbying/3631591-potential-rail-strike-threatens-to-kneecap-us-economy-ahead-of-midterms/

 

 

 

 

 

[Chef Jim]

13 minutes ago, B-Man said:

 

DON’T WORRY, I’M SURE TRANSPORTATION SECRETARY BUTTIGIEG* WILL SORT IT OUT: 

 

 

Potential rail strike threatens to kneecap US economy ahead of midterms

 

More than 9 in 10 railroad workers would vote to reject the PEB recommendations and go on strike, according to a recent survey from the organization.

 

Still, Kaminkow noted that workers could change their minds when faced with the prospect of years of back pay and the reality that Congress can take away their main source of leverage at any time.

 

Federal law gives Congress the power to block or delay a railroad strike. If workers were to walk out, lawmakers could vote to enact the PEB deal or appoint arbitrators to fast-track a new contract, among a range of other options.

 

The Association of American Railroads, which estimates that a national rail shutdown would cost the U.S. at least $2 billion a day, said that lawmakers should vote to implement the PEB recommendations in the event of a strike to “instantly reward employees and reduce economic uncertainty.”

 

Experts say that an extended walkout would devastate industries that rely on freight to transport grain, coal, diesel, steel and motor vehicle parts. Shipping containers would pile up at ports, severely congesting supply chains and sending prices soaring ahead of the holidays.

 

“The railroads are actually very critical to the nation’s economy, and also to security. There’s a lot of hazardous stuff that simply can’t go by road,” said Nicholas Little, director of railway education at Michigan State University’s Center for Railway Research and Education.

 

 

https://thehill.com/business-a-lobbying/3631591-potential-rail-strike-threatens-to-kneecap-us-economy-ahead-of-midterms/

 

 

 

 

 

 

Yikes.  A RR strike would be horrible for our economy.  The amount of goods shipped via rail has to be staggering.  

[aristocrat]