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

[Greg S]

[Big Blitz]

Blame ..... the Fed!

 

And Europe!

 

 

The bond market is crumbling. That's bad for Wall Street and Main Street

 

 

The yield on the 10-year US Treasury bond, a proxy for borrowing costs, briefly moved above 4% on Wednesday for the first time in 12 years. That's a bad omen for Wall Street and Main Street.

 

What's happening: This hasn't been a pretty year for US stocks. All three major indexes are in a bear market, down more than 20% from recent highs, and analysts predict more pain ahead. When things are this bad, investors seek safety in Treasury bonds, which have low returns but are also considered low-risk (As loans to the US government, Treasury notes are seen as a safe bet since there is little risk they won't be paid back).

 

But in 2022's topsy-turvy economy, even that safe haven has become somewhat treacherous.

 

Bond returns, or yields, rise as their prices fall. Under normal market conditions, a rising yield should mean that there's less demand for bonds because investors would rather put their money into higher-risk (and higher-reward) stocks.

 

Instead markets are plummeting, and investors are flocking out of risky stocks, but yields are going up. What gives?

 

Blame the Fed. Persistent inflation has led the Federal Reserve to fight back by aggressively hiking interest rates, and as a result the yields on US Treasury bonds have soared.

 

Economic turmoil in the United Kingdom and European Union has also caused the value of both the British pound and the euro to fall dramatically when compared to the US dollar. Dollar strength typically coincides with higher bond rates as well.

 

https://www.cnn.com/2022/09/29/investing/premarket-trading-stocks/index.html

[aristocrat]

 

[BillsFanNC]

 

[Doc]

Dem logic: redefine things that look bad for you and/or explain why bad things are actually good for you.   

[B-Man]

 

[Doc]

3 hours ago, B-Man said:

 

 

Oh, so it was really the stock market reduction act...

[MarkyMannn]

3 hours ago, B-Man said:

 

16% since today's market close.

 

Next week a bloodbath in drops

[Albwan]

On 9/28/2022 at 7:40 AM, DRsGhost said:

Also POTUS dementia from stage 4 to stage 5.

 

Such great news for our nation!

 

 

President Biden, A Good American President!

                                       -Some internet dummy

[Big Blitz]

Stocks end September down 9.3%, worst month since March 2020

 

https://apnews.com/article/inflation-asia-sydney-tokyo-business-fb2c89be1c4339179bd501dd1c8849ec

 

 

10

Plus

Years 

 

 

All because the tweets were mean.  

[aristocrat]

On 9/28/2022 at 10:01 AM, Tiberius said:

Trump, I mean Putin, is out there blowing up pipelines. Guess who will get blamed for the resulting higher prices? 

 

This POS will say it was Biden, not his buddy 

 

 

[Doc]

The biggest gift anyone could have given Putin.  Compliments of Joke.

[Big Blitz]

My wife almost had a stroke at the stores today.

 

It is so much worse then they're telling us

 

This should help:

 

 

Grocery store prices aren't coming down anytime soon

 

Some sobering news for US shoppers: There's little relief in sight on grocery store bills.

 

Grocery prices climbed 13.5% in August from the year before, the highest annual increase since March 1979, according to government data.

 

Executives at large food manufacturers and analysts expect inflation to hover around this level for the rest of 2022.

 

https://www.cnn.com/2022/09/30/business-food/grocery-store-prices-food/index.html

 

 

 

If Trump was in office, the news would follow around shoppers every other day to show you - to make sure you saw and felt - the daily pain from the surge in prices.  

 

 

Thank you Branch Covidians.  

[JDHillFan]

22 minutes ago, Big Blitz said:

My wife almost had a stroke at the stores today.

 

It is so much worse then they're telling us

 

This should help:

 

 

Grocery store prices aren't coming down anytime soon

 

Some sobering news for US shoppers: There's little relief in sight on grocery store bills.

 

Grocery prices climbed 13.5% in August from the year before, the highest annual increase since March 1979, according to government data.

 

Executives at large food manufacturers and analysts expect inflation to hover around this level for the rest of 2022.

 

https://www.cnn.com/2022/09/30/business-food/grocery-store-prices-food/index.html

 

 

 

If Trump was in office, the news would follow around shoppers every other day to show you - to make sure you saw and felt - the daily pain from the surge in prices.  

 

 

Thank you Branch Covidians.  

Big Food is screwing us!!

[B-Man]

 

 

 

 

.

[B-Man]

 

 

ANALYSIS: TRUE. 

 

Policymakers caused the coming recession — don’t let them blame COVID and Ukraine.

 

If, as seems increasingly likely, the United States and world have a hard economic landing next year, of one thing you can be sure: Policymakers both at home and abroad will not assume responsibility. Rather, they’ll point to COVID, a once-in-a-century health crisis, and Russia’s invasion of Ukraine as the primary causes of our economic woes.

 

The truth of the matter, however, is different. Without a series of egregious policy missteps in a number of the world’s major economies, we could have avoided a hard world economic landing.

 

 

But they’ll act as if it’s something that just kinda happened.

 

 

https://nypost.com/2022/09/29/policymakers-caused-the-coming-recession-dont-let-them-blame-covid-and-ukraine/

 

 

.

[Chef Jim]

9 minutes ago, B-Man said:

 

 

ANALYSIS: TRUE. 

 

Policymakers caused the coming recession — don’t let them blame COVID and Ukraine.

 

If, as seems increasingly likely, the United States and world have a hard economic landing next year, of one thing you can be sure: Policymakers both at home and abroad will not assume responsibility. Rather, they’ll point to COVID, a once-in-a-century health crisis, and Russia’s invasion of Ukraine as the primary causes of our economic woes.

 

The truth of the matter, however, is different. Without a series of egregious policy missteps in a number of the world’s major economies, we could have avoided a hard world economic landing.

 

 

But they’ll act as if it’s something that just kinda happened.

 

 

https://nypost.com/2022/09/29/policymakers-caused-the-coming-recession-dont-let-them-blame-covid-and-ukraine/

 

 

.

Very similar to Hoover and FDR’s policies exacerbated the Great Depression. 

[Big Blitz]

Wall Street: The U.S. housing market to see the second biggest home price decline since the Great Depression

 

National home price declines are uncommon, but it does occur on occasion. It happened in the early 1980s, then again in the early 1990s, and most notably in the years following the 2008 housing crash. That said, sharp home price declines are incredibly rare: Only the Great Depression and the Great Recession saw nationwide home prices fall in the double-digits range.

 

That history—or lack of history—is why recent outlooks published by Wall Street titans are raising eyebrows. Not only is there a building consensus on Wall Street that we've entered into a period of falling home prices, but there's also a consensus it will be the second-sharpest home price decline since the Great Depression.

 

https://fortune.com/2022/10/03/housing-market-wall-street-home-prices-predictions-moodys-goldman-sachs-morgan-stanley-fitch-ratings/

 

 

 

[Big Blitz]

 

[Tiberius]

Just in time for re-election I hope 

Quote

 

Cooling global demand and steady improvements in supply should result in falling rates of inflation for goods over the next year, New York Fed President John Williams said Monday.

“These factors should contribute to inflation declining to about 3% next year,” Williams said in a speech to the U.S. Hispanic Chamber of Commerce in Phoenix.

Inflation, as measured by the Fed’s favorite personal consumption expenditures (PCE) price index, was running at a 6.2% annual rate in August.

 

https://www.marketwatch.com/story/feds-williams-sees-steep-decline-in-inflation-ahead-11664825249

 

 

21 hours ago, Big Blitz said:

Wall Street: The U.S. housing market to see the second biggest home price decline since the Great Depression

 

National home price declines are uncommon, but it does occur on occasion. It happened in the early 1980s, then again in the early 1990s, and most notably in the years following the 2008 housing crash. That said, sharp home price declines are incredibly rare: Only the Great Depression and the Great Recession saw nationwide home prices fall in the double-digits range.

 

That history—or lack of history—is why recent outlooks published by Wall Street titans are raising eyebrows. Not only is there a building consensus on Wall Street that we've entered into a period of falling home prices, but there's also a consensus it will be the second-sharpest home price decline since the Great Depression.

 

https://fortune.com/2022/10/03/housing-market-wall-street-home-prices-predictions-moodys-goldman-sachs-morgan-stanley-fitch-ratings/

 

 

 

deflation? 

[SoCal Deek]

Well, well, well….just read a long article that popped up on my Google feed this morning from guess who? CNN. It appears we’re staring at a recession after all. Go figure? Who knew? And according to CNN the culprit appears to be the Fed. No mention of the Biden Administration’s rampant spending policies whatsoever. But did find a second to take a jab at the new British PM for lowering taxes.  So increased spending (good) lowering taxes (bad). 
 

Bottom line: inflation was transient until it wasn’t. Recession wasn’t happening until is was.

 

Brilliant! At least we now know that we know that we know…. we’re in a recession. 

[Tiberius]

1 minute ago, SoCal Deek said:

Well, well, well….just read a long article that popped up on my Google feed this morning from guess who? CNN. It appears we’re staring at a recession after all. Go figure? Who knew? And according to CNN the culprit appears to be the Fed. No mention of the Biden Administration’s rampant spending policies whatsoever. But did find a second to take a jab at the new British PM for lowering taxes.  So increased spending (good) lowering taxes (bad). 
 

Bottom line: inflation was transient until it wasn’t. Recession wasn’t happening until is was.

 

Brilliant! At least we now know that we know that we know…. we’re in a recession. 

What is the unemployment rate now? 

[SoCal Deek]

Just now, Tiberius said:

What is the unemployment rate now? 

So you disagree with CNN? We aren’t on the brink of a recession? 

[Tiberius]

1 minute ago, SoCal Deek said:

So you disagree with CNN? We aren’t on the brink of a recession? 

We might be. No guarantees 

[SoCal Deek]

4 minutes ago, Tiberius said:

We might be. No guarantees 

I’m guessing we are. All signs point to it. While I appreciate the Biden Administration trying to cheerlead the nation out of one, at some point you have to level with the country. Rapidly rising prices are going to catch up with people and as the article lays out, then they stop buying stuff. When that happens, the recession hits and snowballs until it naturally eases and comes back out. It’s inevitable.

[Tiberius]

57 minutes ago, SoCal Deek said:

I’m guessing we are. All signs point to it. While I appreciate the Biden Administration trying to cheerlead the nation out of one, at some point you have to level with the country. Rapidly rising prices are going to catch up with people and as the article lays out, then they stop buying stuff. When that happens, the recession hits and snowballs until it naturally eases and comes back out. It’s inevitable.

You are cheerleading for economic malaise 

 

Sad

[All_Pro_Bills]

1 hour ago, Tiberius said:

What is the unemployment rate now? 

Recessions don't start with high unemployment.  They end with it.  Job openings are a more important indicator of business direction.  So that's something to watch.

[Tiberius]

6 minutes ago, All_Pro_Bills said:

Recessions don't start with high unemployment.  They end with it.  Job openings are a more important indicator of business direction.  So that's something to watch.

A recession with low employment. Biden just does things better.

 

[All_Pro_Bills]

Word out of the OPEC+ meeting is they are considering reducing their production limit by as much as 2 million barrels a day.  Add in the end of the SPR drain and that's 3 million per day coming off the table.

[SoCal Deek]

3 hours ago, Tiberius said:

You are cheerleading for economic malaise 

 

Sad

Cheerleading… no. Reporting …yes. 
Whereas I have absolutely no idea what you think you’re doing. 

[B-Man]

Just now, SoCal Deek said:

Cheerleading… no. Reporting …yes. 
Whereas I have absolutely no idea what you think you’re doing. 

 

 

 

AMEN.

 

That "cheerleading" dodge by the Left is older than me.

 

 

.

[SoCal Deek]

2 minutes ago, B-Man said:

 

 

 

AMEN.

 

That "cheerleading" dodge by the Left is older than me.

 

 

.

Apparently Tibs believes that when the history of the current recession is written its causation will be traced back to my post on a Buffalo Bills related message board. ( It’ll be right up there with that cartoonist from Cincinnati that was the root cause of Benghazi.)

[Doc]

4 hours ago, Tiberius said:

You are cheerleading for economic malaise 

 

Sad

 

Dems would never do that...

[Big Blitz]

Is this good?

 

 

[B-Man]

 

 

 

 

 

 

 

 

 

.

[B-Man]

 

 

A little more current than 2008. . . . . . . .  😂

 

 

 

US oil and gas industry MOCKS Biden after OPEC announced production cuts:

 

Energy groups say administration now has no choice but to come ‘crawling back’ to domestic producers in bid to lower prices.

 

 

https://www.dailymail.co.uk/news/article-11285801/US-oil-industry-says-Biden-boost-domestic-output-OPEC-cuts.html

 

 

 

.

[Big Blitz]

Layoffs rising as the U.S. economy slows

 

Layoff announcements spiked in September, according to outplacement firm Challenger, Gray & Christmas. Job cuts last month rose to nearly 30,000, an increase of 46% from August, while the number of companies announcing hiring plans last month fell to the lowest level in more than a decade, the firm said.

 

"Some cracks are beginning to appear in the labor market. Hiring is slowing and downsizing events are beginning to occur," Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.

 

Applications for jobless aid generally reflect layoffs, which have remained historically low since the initial purge of more than 20 million jobs at the start of the coronavirus pandemic in the spring of 2020. However, the technology sector has seen a hiring slowdown, with dozens of companies announcing layoffs or hiring freezes. Last week, Meta said it planned to reduce headcount for the first time in the company's history.

 

Netflix, Peloton, Snap, Twilio, Taboola and Twitter have all announced layoffs. Google parent Alphabet has shut its video-game streaming service, Stadia, and Amazon has reportedly frozen corporate hiring in its retail division.

 

https://www.cbsnews.com/sacramento/news/layoffs-initial-unemployment-claims-jobless-benefits-2022-10-06/

[B-Man]

 

 

Biden hates Republicans so much, he would rather give oil money to Venezuela and Saudi Arabia than Texas.

 

It’s been a tough year for consumers, inflation is killing household budgets, and according to KPMG, 91% of top CEOs expect a long, tough recession. The Biden administration is even ready to reduce sanctions on Venezuela to get more oil flowing. So it’s desperate. But not desperate enough to undo the damage it’s done to the domestic oil industry, which is the first thing it’d do if it were serious.

 

Why not? There are a lot of reasons. Greens, who dominate the Democrats, don’t like fossil fuels. But there’s no reason to think that Saudi, Russian or Venezuelan oil is any better for the planet than American oil. It’s just a question of whether the money goes to Saudis, Russians or Venezuelans or to Americans.

 

And I suspect that’s the real problem. The domestic oil industry enriches people — and states — Democrats don’t like.

 

Money going to Saudis, Russians or Venezuelans is one thing, but money going to Texans, Oklahomans or South Dakotans is another. Truth is, red states and their inhabitants rank higher on the administration’s enemies list than do shady foreign nations.

 

 

 

 

Read the whole thing.

 

https://nypost.com/2022/10/06/biden-hates-republicans-so-much-he-would-rather-give-oil-money-to-venezuela-and-saudi-arabia-than-texas/

 

 

 

[BillStime]

Go JOE go

 

 

[B-Man]

 

 

 

                                              

 

 

 

 

 

 

 

                                              

 

 

 

 

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