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Fed kept the rates low too long, and then was too late to attack inflation
attacking workers when the inflation is BigCorp price push
Fed Critics Say New CPI Data Shows Rate Hikes Can't Stop 'Rampant Corporate Profiteering'
"The Fed's overly aggressive actions are shoving our economy to the brink of a devastating recession," said one economist
https://www.commondreams.org/news/20...pant-corporate
Fed kept the rates low too long, and then was too late to attack inflation
attacking workers when the inflation is BigCorp price push
remember that there were $Bs is PPP fraud, esp by big companies, but many smal companies
nearly all that pandemic firehose went to the super rich who increased their wealth by $Ts in the pandemic
ing rigged county going down the tubes
Med sea off Israel is now boiling gases
Dimon says BigOil must pump more oil, and that Biden has ed it up
Here’s why the price of groceries keeps rising
https://thehill.com/policy/finance/3...s-keeps-rising
https://apple.news/ALliwwEZgQOicxoX5AJFYAQKey Indicator Puts the Chance of Recession at 100%
The economy shrank 1.6% in the first quarter and 0.6% in the second. And inflation hit 8.2% for the latest 12 months.
Many top economists, such as Harvard’s Larry Summers, say the economy is likely to enter a recession this year or next, thanks to the large interest-rate increases from the Federal Reserve.
The economy shrank 1.6% in the first quarter and 0.6% in the second. Consumer prices soared 8.2% in the 12 months through September, and the Fed has lifted interest rates by 3 percentage points since March.
Summers has noted that at any time in the past 60 years when inflation exceeded 4% and unemployment was under 5%, a recession has followed within two years. Unemployment matched a five-decade high of 3.5% in September.
It’s not just top economists who are worried about the possibility of a recession by the end of next year. A total of 69% of Americans feel the same way, according to a July survey by personal-finance website Bankrate.com.
In an ominous sign, more than 2 of every 5 (41%) Americans say they are unprepared to handle such an event. And of that cohort, 31% are doing nothing to prepare.
Democrats are going to get absolutely smoked during midterms. And based on the economy’s poor health, rightfully so.
What are Republicans going to do for the economy?
What did the Dems do "rightfully" to mess up the economy?
How about Feds pumping $Ts into the oligarchy with super-low rates for too long, then too late raising rates to attack inflation,
(but not attack BigCorp price-push profiteering)?
Last edited by boutons_deux; 10-18-2022 at 01:43 PM.
Doesn't really matter. Inflation and deteriorating economics are put into motion terms before any current president. Gas prices and inflation were going to happen regardless of who's in the White House. If Trump had won, he'd have the same on his head. It's inevitable. But most voters don't understand any of that. It's just all based on their current situation.
make it worse, if possible.
holding the US credit rating hostage to force Social Security and Medicare cuts looks likely.
Probably nothing, maybe some tax cuts, I dunno. That question won’t feature much for the midterms though.
What about it? I’ve criticized the Fed repeatedly in this thread.
they have announced they will shutdown the govt, extorting those cuts no matter who or what gets hurt.
They have to payfor $Ts in deficit due to $Ts in tax cuts for the fascist Capitalist oligarchy, pay on the backs of the old people who are no longer producing Capital for the Capitalists.
I mean, this is the norm? When was the last time a first term president didn't lose the midterms?
Exactly. And if not for 9/11 a year earlier, the GOP would've probably lost that one as well.
I still recall the "tea potty red wave" in Obama's first midterms.
Not saying Dems don't deserve it, just saying that's typically the norm regardless.
Are we already in a recession?
About to begin one?
Or neither?
Yeah, Goldman has such a great record of anticipating financial events
so what's your prediction?Yeah, Goldman has such a great record of anticipating financial events
I was referring to Goldman's 2008 ten billion dollar up. Personally I don't see any way we avoid a recession in 2023 because the Fed will keep raising interest rates until unemployment rises to over 4% and then the lag time of the last increases to take effect will extend it for at least 6 more months.
very plausible, it seems similar to me.
we'll see, eh? prediction is a fool's game.
Interest rate hikes are keeping would be buyers and sellers on the sidelines. A big difference from 2008-2012 is that ARMs are far less prevalent and many current owners have locked in historically low mortgage rates -- we're far less likely to see a wave of foreclosures this time around. We also have way more real estate controlled by private equity firms.
https://wolfstreet.com/2022/10/25/th...across-the-us/This is the first month in this cycle that the S&P CoreLogic Case-Shiller Home Price Index, which lags reality on the ground by 4-6 months, is showing house price declines in all the metros in the index.
In Seattle, the month-to-month plunge was the steepest on record (-3.8%). In San Francisco, the month-to-month plunge (-4.3%) was the third-steepest on record, outdone only by the two worst months during Housing Bust 1 in 2008. In San Diego (-2.8%), Los Angeles (-2.3%), Phoenix (-2.1%), and other metros, the plunges were the worst since Housing Bust 1. And the declines are spreading across the country to other metros, including Dallas, Boston, Washington D.C., and Las Vegas.
These are serious declines for the Case-Shiller Home Price Index, where each month is a rolling three-month average which irons out the month-to-month variability.
Last edited by Winehole23; 10-26-2022 at 02:04 PM.
hit hard by inflation, gas prices, and democrat law in general...
Recession and a huge plummet in housing prices would be a huge boon for me, since I'm sitting on a lot of cash at the moment...
Your wife likes my pants down
She loves big balls
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