May 31, 2022 at 2:59 pm EDT By Taegan Goddard 1 Comment
“U.S. consumer confidence edged lower in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation,” the AP reports.
“The expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, also declined in May.”
So the hits just keep on coming. Our President is such a failure that in spite of consumer confidence hitting all time lows, it just keeps getting worse? Nobody trusts this President to know which end is up and which end is down... much less to have a grasp on what is needed to turn things around.
I am sure some new bills regarding how long you have to wait to purchase a gun will turn the economy around. So that is what the President and Democrats should be focusing on!
79 comments:
The collapse is intentional. There's no other explanation.
If one set out to intentionally destroy the nation, what would they do differently than what FJB is doing right fucking NOW???
Btw -
Democrats are growing increasingly concerned that a spike in ObamaCare premiums could hit this fall right before the midterm elections.
https://thehill.com/policy/healthcare/3504584-worries-about-coming-obamacare-premium-spikes-intensify/
Just as cali predicted.
OPEC Mulls Suspending Russia from Oil-Production Deal
May 31, 2022 at 4:27 pm EDT By Taegan Goddard Leave a Comment
“Some OPEC members are exploring the idea of suspending Russia’s participation in an oil-production deal as Western sanctions and a partial European ban begin to undercut Moscow’s ability to pump more,”
the Wall Street Journal reports.
“Exempting Russia from its oil-production targets could potentially pave the way for Saudi Arabia, the United Arab Emirates and other producers in the Organization of the Petroleum Exporting Countries to pump significantly more crude, something that the U.S. and European nations have pressed them to do as the invasion of Ukraine sent oil prices soaring above $100 a barrel.”
THE WORLD SAYS
'SCREW UP'
Russian Military Repeating Mistakes in Eastern Ukraine
May 31, 2022 at 4:23 pm EDT By Taegan Goddard 1 Comment
New York Times:
“The Russian military, beaten down and demoralized after three months of war, is making the same mistakes in its campaign to capture a swath of eastern Ukraine that forced it to abandon its push to take the entire country,
senior American officials say.
“While Russian troops are capturing territory,
a Pentagon official said that their “plodding and incremental” pace was wearing them down,
and that the military’s overall fighting strength had been diminished by about 20 percent.
And since the war started, Russia has lost 1,000 tanks, a senior Pentagon official said last week.”
Well there you go Reverend...
But how does OPEC or Russian mistakes have anything to do with Biden's massive failures as a President?
I wonder how low an IQ has to be to still support this crazy senile old geezer?
This has been quietly reported -
Police confirm 10 shot in S.C. shooting, one of 14 mass shootings from Memorial Day weekend
At least 10 people were wounded in a mass shooting in South Carolina on Monday night — one of numerous mass shootings that unfolded across the U.S. over Memorial Day weekend.
Charleston Mayor John Tecklenburg said on Tuesday that nearly a dozen people were shot during the gunfire late Monday, with four in critical condition.
A police officer had responded to a loud party after receiving a noise complaint. Charleston Police Chief Luther Reynolds told reporters, “Immediately the officer took gunfire.”
“Two shots went into his cruiser, and let me tell you something: As we stand here right now, we’re lucky we don’t have a dead cop or dead citizens or dead community members.”
The mass shooting was one of at least 14 such incidents throughout the country over the holiday weekend, according to the Gun Violence Archive, which tracks such incidents. The group defines mass shootings as “four or more people” shot or killed in one incident, excluding the shooter.
From Saturday until Monday, at least 60 people were reported to have been injured in mass shootings, while nine others were killed, Gun Violence Archive reported. Holiday weekends, especially during the summer, are often associated with spikes in gun violence; some of the shootings from the past weekend occurred at parties.
https://news.yahoo.com/mass-shootings-memorial-day-weekend-charleston-181513852.html
Those Negroes* sure know how to have fun.
*h/t: the alky
Ahead of a Tuesday meeting with Federal Reserve Chairman Jerome Powell, President Biden laid out a plan in a Wall Street Journal op-ed to fight inflation levels that are topping 8 percent annually and reaching nearly 40-year highs. Biden has said that bringing down inflation is his top economic priority.
The gist of the plan is to get out of the way while the Fed raises interest rates to bolster the purchasing power of the dollar while supporting damaged supply chains to make sure that demand for goods doesn’t outpace their supply.
The plan also talks about bringing down demand by continuing to reduce the federal deficit, which is projected to fall by $1.7 trillion this year, something the White House is happy to show off as a win.
The goal for both Biden and the Fed is a “soft landing” — meaning a drop in prices for American consumers without a drop in overall economic growth. Whether or not they can thread this needle, Biden is emphasizing aspects of the recovery from the pandemic that further his economic agenda. Here are five takeaways from his plan.
Biden needs the labor market to cool and is depending on the Fed
The labor market is a positive for Biden on the economy, but a problem for inflation. Unemployment is now at 3.6 percent, which has led to growth in nominal wages, up well over 5 percent since last year. It’s also given job seekers more opportunity to find a job and extra bargaining power over their employers once they get hired.
But economists say that without higher unemployment rates, or what they call a “looser” labor market, it will be difficult for consumer prices to come down. This is because higher wages and higher employment levels are mutually reinforcing.
“It’s going to be very difficult to get through this now that we have wage inflation running at close to a 6-percent rate and the tightest labor markets we’ve ever seen in our country,” economist and former Treasury Secretary Larry Summers said Tuesday during an online event hosted by The Washington Post. “I don’t see how we can get inflation to substantially decelerate without wage inflation falling substantially.”
“I don’t think there’s a durable reduction in inflation without a meaningful reduction in wage growth,” he added.
Unlike former President Trump, who regularly criticized both Powell and the Federal Reserve, Biden said in his inflation plan that he’s not going to get in the way of the Fed’s interest rate hikes as it seeks to break the cycle of high wages and high employment.
“Recession risks are high,” Mark Zandi, an economist with Moody’s Analytics, said Tuesday. “I would put the odds of a recession beginning in the next twelve months at about one in three, and then probably mostly even odds over the next couple of years.”
Biden talks a lot about deficit cuts
The deficit is falling and Biden wants to take credit for it. The Congressional Budget Office last week projected that the budget deficit in 2022 will be $1.7 trillion less than the shortfall recorded in the previous year.
There are fears of a recession
Biden’s plan doesn’t talk about the possibility of a recession, but if the Fed’s efforts to raise interest rates and cool the economy don’t work as anticipated, a recession starting later this year or next year could be in the works.
“Recession risks are high,” Mark Zandi, an economist with Moody’s Analytics, said Tuesday. “I would put the odds of a recession beginning in the next twelve months at about one in three, and then probably mostly even odds over the next couple of years.”
Navy fires Naval Justice School’s top two leadersNavarro formally sues Jan. 6 committee, DOJ
“Obviously the problem is high inflation, painfully high inflation, and the Federal Reserve is now working very hard to raise interest rates quickly to slow growth, to quell that inflation. In times past, when we’ve been in this kind of situation, recession often occurs, so we certainly can’t dismiss the possibility of recession at this point,” he added.
Higher interest rates will certainly put downward pressure on inflation, but if the supply chain issues are more intransigent than economists are currently think they are, higher interest rates could further slow an economy that’s already on a path to slowing down.
“It’s hard to find a measure where inflation is going up less than three or four percentage points, and I think that’s the kind of increase in interest rates that at a minimum we’re going to need if we’re going to have a prospect of containing inflation – unless of course the economy heads towards a recession on its own, which given the turbulence in the stock market and given some of the disturbing indicators about consumer confidence, is also a possibility,” Summers said during Tuesday’s event.
The plan also talks about bringing down demand by continuing to reduce the federal deficit, which is projected to fall by $1.7 trillion this year, something the White House is happy to show off as a win.
It is projected to drop because we are no longer paying for the massive Democrat Covid relief packages and Biden stimulus packages...
But that makes sense, huh?
The 2019 pre-Covid Trump deficit was 991 billion.
The projected 2022 deficit that Biden is bragging about is going to be well over a trillion dollars... after posting a 2.7 trillion dollar 2021 budget deficit.
In other words, we are still not back to where we were pre-covid and those are just "estimates". No doubt the real thing will "unexpectedly" come in higher, huh?
https://thehill.com/policy/finance/3507123-five-takeaways-from-bidens-inflation-plan/
In other words, we are still not back to where we were pre-covid and those are just "estimates". No doubt the real thing will "unexpectedly" come in higher, huh?
Never forget that the adults are in charge now.
Scott Biden reconstruction packages...are just getting started and wages will go up enough to balance the reduction of inflation that is projected to decrease fairly quickly 😳
If unemployment gets under 3.0% it will be better than before.
For the remainder of FJB's first and only term, the word "unexpectedly" is going to get quite the workout.
As is the phrase - "Republicans Pounce!"
FJB has secured his legacy as the absolute worst fucking president in American history. Bar none.
Karma is a bitch. May he suffer and suffer and suffer and suffer...
is not good news.
https://www.washingtonpost.com/us-policy/2022/05/31/inflation-economy-timeline/
Oh Jesus...
Some people don't get it.
The may consumer sentiment drop is what Americans are actually feeling. The approvals of the President are how little these people believe he is helping.
Some IDIOTS appear to think it will get better because of some press release form the SAME PEOPLE WHO PUT US IN THIS POSITION!!!!
They are ruining the country and their only plan is to try to convince the REALLY STUPID that things are going to get better.
When reality is that almost all economists now believe that the economy is headed towards a recession! Already have one quarter of negative growth and things have not started off very well in Q2. We could ALREADY be in a recession... and most people already feel that way.
tHE DUCK SAYS MOO
i SAY, HAS ANYONE, ANYWHERE
GOT ANY BRAINS
https://www.youtube.com/watch?v=jQ9aVN5VaJg
Remember when Geo W Bush was in office and the economy tanked?
Was it all Bush's fault?
Canadians are expressing tremendous worry that we in the United States are about to lose democracy, and that could greatly influence them.
Reagan 2.0?
Politicians don't enjoy it, but most change positions at least once in their careers. Then there's Tom Cotton.
From restricting legal and illegal immigration to hawkish foreign policy to criticizing the nation’s “under-incarceration” of criminals, the Arkansas senator keeps staking out hardline positions in anticipation that fellow Republicans will come to him. As small-government as they come on every issue other than national security, Cotton is a 1980s throwback — mentioning former President Ronald Reagan 10 times in a lengthy interview with POLITICO.
And he sees his rigidity as a feature, not a bug of his brand of immovable politics.
“I have strong opinions … And I stick to those views, not till I feel vindicated, until I am vindicated on the facts, as I have been on almost every point,” Cotton said when asked if he feels redeemed by his steadfast views. “It's not a matter of ‘I feel vindicated.’ It's a matter that I have been vindicated.”
Cotton doesn’t say “no” when asked if he’s planning to run for president in 2024. His book, "Only the Strong," is due out after the election and focuses on his national security approach.
And for a party still reeling from the peripatetic ideology of Donald Trump, Cotton could offer a predictable alternative: He builds few bridges to Democrats and isn’t afraid of clobbering Republicans, either.
He talks regularly with Trump but isn’t begging for a third campaign from the former president either: “That's a decision that he will make, as well as everyone else.”
Reagan 2.0?
Politicians don't enjoy it, but most change positions at least once in their careers. Then there's Tom Cotton.
From restricting legal and illegal immigration to hawkish foreign policy to criticizing the nation’s “under-incarceration” of criminals, the Arkansas senator keeps staking out hardline positions in anticipation that fellow Republicans will come to him. As small-government as they come on every issue other than national security, Cotton is a 1980s throwback — mentioning former President Ronald Reagan 10 times in a lengthy interview with POLITICO.
And he sees his rigidity as a feature, not a bug of his brand of immovable politics.
“I have strong opinions … And I stick to those views, not till I feel vindicated, until I am vindicated on the facts, as I have been on almost every point,” Cotton said when asked if he feels redeemed by his steadfast views. “It's not a matter of ‘I feel vindicated.’ It's a matter that I have been vindicated.”
Cotton doesn’t say “no” when asked if he’s planning to run for president in 2024. His book, "Only the Strong," is due out after the election and focuses on his national security approach.
And for a party still reeling from the peripatetic ideology of Donald Trump, Cotton could offer a predictable alternative: He builds few bridges to Democrats and isn’t afraid of clobbering Republicans, either.
He talks regularly with Trump but isn’t begging for a third campaign from the former president either: “That's a decision that he will make, as well as everyone else.”
Blogger The Real Halfbaked Soars Pundit said...
Biden needs the labor market to cool and is depending on the Fed
Blogger The Real Halfbaked Soars Pundit said...
Scott Biden reconstruction packages...are just getting started and wages will go up enough to balance the reduction of inflation that is projected to decrease fairly quickly 😳
5-6 posts apart.
Shut up, Alky
Remember when Geo W Bush was in office and the economy tanked?
Was it all Bush's fault?
A housing bubble crashed Reverend...
and technically Bush warned congress to stop interfering in the mortgage business... and turned out right.
But didn't stop his approvals from sinking into the low thirties and even into the 20's in some polls.
This is much more on Biden.
They were warned that their last stimulus was unnecessary and would cause inflation. They did it anyways. That makes it their fault. Same thing with the supply chain crisis and such. Gas prices, etc. In all situations they have implemented policies that caused more harm than good for all of these things.
He is "lucky" his approvals are where they are at all things considered. He probably deserves to be much lower..
But there is no fixing stupid partisanship.
I have shared the following with many people and have asked,
What do you think?
____
LETTER TO EDITOR
America is now in grave danger from those who want to destroy democracy, who want to end government “of the people, by the people, and for the people,” in order to replace it with government that is of the wealthy, by the wealthy, and – exclusively – for the wealthy.
The legitimacy of our constitutional republic depends on the choices the American people make. “In our land, voters choose their leaders. In dictatorships, the leaders make that choice.”
That is the major difference between American democracy on the one hand, and the sort of autocractic and kleptocratic dictatorship that is now being espoused by far too many on the American right.
Right wing extremists have been moving in that direction now for years, and have been getting quite good at misleading many of our people into thinking they are for the middle class and for the public good, when actually they are interested only in solidifying the lucrative financial and political support they can get by satisfying the selfish greed of the ultra wealthy.
Donald Trump was so determined to hold on to office and stay in power that he criminally attempted to negate the legitimate choice of the American electorate, and in so doing, he tried to put himself above the law and the Constitution.
Attorney General Merrick Garland, although under intense pressure to act, has steadfastly resisted being stampeded into prosecuting Trump. In his commitment to thoroughness, Garland has been carefully gathering evidence – evidence he says he intends to follow wherever it may lead. And, he promises, he will strictly apply the law without any fear or favor.
Soon we will be seeing the results of Garland’s investigations. Americans will do well to pay attention, for this might offer us our last chance to save democracy.
James Boswell
Normal, IL
Bush got blamed.
What if it turns out that Biden does not get blamed?
What if it turns out that Biden does not get blamed?
He's already been blamed Reverend...
Only the true partisans refuse to accept that this is his fault or at least the fault of those who are his handlers.
Blogger rrb said...
Btw -
Democrats are growing increasingly concerned that a spike in ObamaCare premiums could hit this fall right before the midterm elections.
https://thehill.com/policy/healthcare/3504584-worries-about-coming-obamacare-premium-spikes-intensify/
Just as cali predicted.
From the article
The premium increases would be substantial if Congress does not act, with an average rise of around 53 percent, affecting roughly 13 million people, according to the Kaiser Family Foundation.
Middle class people making more than 400 percent of the federal poverty line would be especially hard hit, given that they would go back to not being eligible for any financial assistance and have to pay the full cost of their premiums.
LMAO
Of the wonderful CBO predicted, close to 30 million enrolled by now….
Don't ya love posts that start with what if and are followed by unlikely bullshit?
In case anyone is wondering, this is called A Death Spiral.
LOL
Clarification for the slow-minded:
What if it turns out that attitudes change as the days go on, and Biden or some other Democrat becomes far more re-electable or electable than the eventual Republican nominee, Trump or otherwise?
CH MUST BE IN DEEP GRIEF
Durham Accidentally Debunks Trump’s Conspiracy Theory
May 31, 2022 at 4:46 pm EDT By Taegan Goddard 117 Comments
Former Attorney General William Barr and special prosecutor John Durham set out to prove Donald Trump’s theory about the FBI.
Instead, Jonathan Chait notes, they accidentally debunked it.
Trump put out a statement on today’s acquittal of Clinton campaign lawyer Michael Sussman:
“Our country is going to hell.”
________
NO, not now that we've stopped following YOU in the direction.
The conservative side is losing a lot more than before
WASHINGTON (AP) — A divided Supreme Court has blocked a Texas law, championed by conservatives, that aimed to keep social media platforms like Facebook and Twitter from censoring users based on their viewpoints.
The court voted in an unusual 5-4 alignment Tuesday to put the Texas law on hold, while a lawsuit plays out in lower courts.
Chief Justice John Roberts and Justices Stephen Breyer, Sonia Sotomayor, Brett Kavanaugh and Amy Coney Barrett voted to grant the emergency request from two technology industry groups that challenged the law in federal court.
Brett Kavanaugh and Amy Coney Barrett will be calling RINO 📞
“No online platform, website, or newspaper should be directed by government officials to carry certain speech," said CCIA president Matt Schruers after the Supreme Court issued its order. "This has been a key tenet of our democracy for more than 200 years.”
They just guaranteed the freedom of speech!
Two decisions today have started to stop Trump from a fascist state 🙄
My last post is even more on point
Plus there is another victory for the United States and America 🇺🇸
a unanimous decision of a three-judge panel of the U.S. Court of Appeals for the 3rd Circuit. It said that mail-in ballots that were received on time but lacked a required date on the outer envelope should be counted.
The Republican Party of today has a crushed by the judiciary branch...
Reverend...
anyone who paid attention to the trial knows what happened and what came out.
If you are stupid enough to believe that an acquittal (from a partisan jury who suggested that lying to the FBI should not be prosecuted) changes that...
Well then... I guess there is no helping you!
Too far gone!
Literally the trial proved that Clinton approved and paid for evidence of Trump / Russian bank communications that the trial proved the Rodney Goffe team knew was fake and then proved that both the FBI and the CIA debunked the "evidence" the first day they had it...
after the Clinton peddled it to the media and the FBI as real.
You cannot unsee that, Reverend.
But you can choose to ignore it... as you will.
Reverend...
The midterm elections are five months away... even if things started to improve tomorrow, it's probably not enough time to change perceptions.
But more to the point, economists are expecting things the economy to get worse (not better). While inflation might "cool" that only means that high prices that people cannot afford will still become even higher at a slower rate... at the same time the actual economy slows down.
I don't believe people are going to get excited that gas prices only went up another 25 cents last month after going up 40 the month before. They want to see prices come down... and we are quite a ways away from that!
Moreover... it's going to be several weeks before we can even start putting a dent into the problems with baby formula and such. Oh... and how is that Ukraine war going for you? You think people are excited about Biden's response to that?
Suddenly sending $40 billion to another country looks pretty stupid when people here cannot get baby formula or cannot afford gas and apparently we cannot afford to put more security in our schools?
Texas’s HB 20 is a constitutional trainwreck — or, as the district court put it, an example of ‘burning the house to roast the pig,’” said Chris Marchese, Counsel at NetChoice, in response to Tuesday’s ruling. “We are relieved that the First Amendment, open internet, and the users who rely on it remain protected from Texas’s unconstitutional overreach.”
“No online platform, website, or newspaper should be directed by government officials to carry certain speech,” said CCIA President Matt Schruer. “This has been a key tenet of our democracy for more than 200 years and the Supreme Court has upheld that.”
The Supreme Court has not ruled on that issue, Roger...
They simply stayed a ruling while it works its way through the courts.
How do you find so many people who are disinformed?
Every one of those basic tenets was violated in Michael Sussmann’s trial for lying to the FBI. We know now that a Washington, DC jury has found him not guilty, though it is still unclear whether they believed he didn’t lie, or the government didn’t prove it, or it didn’t matter to a politically biased FBI, which was determined to investigate anything connected to Donald Trump. We also know something more: the whole case is drenched in the sulfurous smell of the Washington Swamp
I saw it but two people who Trump nominated voted with Roberts
I posted 📫 while a lawsuit plays out in lower courts.
Every one of those basic tenets was violated in Michael Sussmann’s trial for lying to the FBI
And it was proven...
The response (when asked) from the Jury Foreman was that they didn't believe that lying to the FBI should be prosecuted. Pure jury nullification.
Baker testified that his bosses on the Seventh Floor (FBI director James Comey and his number two, Andrew McCabe) were fired up by Sussmann’s materials and authorized a full-scale investigation of the Trump-Alfa Bank connection. When the Bureau asked the Chicago field office to look into the internet data Sussmann had given them, FBI leaders specifically prohibited the field agents from speaking to anyone who generated the data for Sussmann. The FBI’s approach was fatally biased, corrupt, and partisan — the now-familiar hallmarks of Saint James Comey’s tenure at the Bureau.
The FBI was undoubtedly biased (and perhaps incompetent) here, but it should have been possible to persuade a fair-minded jury that Sussmann’s lie didn’t have some influence. But was this a fair-minded jury? There is sickening evidence that the presiding federal judge, Christopher Cooper, seated a jury he knew would strongly favor Sussmann, not because they liked Sussmann but because he represented Hillary Clinton and opposed Donald Trump. How did Judge Cooper tilt the scales of justice? By improperly seating three jurors who donated to the very candidate Sussmann was trying to help. Those jurors said they could be fair, but there is no way they should have been seated. Special Counsel John Durham’s team argued they should be excluded for “cause.” Durham was right; Cooper was wrong, and the only way to explain his decision is his own political bias.
This whole case was about a lie that was meant to help Hillary Clinton and hurt Donald Trump. That means there was a partisan political element at the very heart of the case. That would pose an uphill battle for Durham in any case since the trial was held in Washington, DC, where Trump received almost no votes. He is reviled there. Knowing that, the judge should have leaned over backwards to make sure the jury wasn’t overtly partisan. He did the opposite, and that’s unconscionable. He not only seated three donors to Clinton, he seated another who donated to Alexandria Ocasio-Cortez. AOC may not have been a friend of Hillary’s but she was even more staunchly opposed to Trump. All four of those potential jurors should have been excluded.
The stench surrounding the judge, the defendant, the biased jury, and the FBI ought to outrage the public, no matter who they supported for president. In fact, the public has been kept in the dark throughout the trial because the media refuses to report on it. (Expect them to now shout the “not guilty” verdict from the rooftops because it supports their viewpoint.) When James Baker gave his devastating testimony, all three television networks devoted zero minutes to the trial. The New York Times said nothing. They did the same thing the next day, when Hillary Clinton’s campaign manager dropped the bombshell in court that Hillary herself authorized the campaign to spread the Alfa-Bank-Trump story to the media. Again, crickets.
https://spectatorworld.com/topic/stench-from-the-sussmann-verdict/
The bottom line is that the right wing media convinced you to believe this
https://spectatorworld.com/topic/stench-from-the-sussmann-verdict/
You discredit everything but Trump said
Roger, tell us exactly in US History ,You're beloved Federal Reserve pull off a "soft landing"? With Inflatiron as high as it is.
The Washington Post said today that the economic crisis is not getting any better than before.
Looking at it
But I still believe that the infrastructure bill will provide higher wages and almost enough to cover inflation costs..
The Fed is being cautious ⚠️ but the new oil embargo on Russia is not going to help us..
Barron's
Party like it’s 1994? Rather than 1999, the year made famous by Prince’s purple reign, 1994 is remembered as the time the Federal Reserve actually accomplished the rarest of economic feats—a soft landing, curtailing inflation without crashing into a recession.
The Fed did that by decisively tightening policy, starting with an unexpected 25 basis-point increase in the federal-funds rate. It then imposed a series of sharper-than-expected hikes of 50 basis points, culminating with a 75-basis-point move, doubling the key rate in a little over a year. (A basis point is 1/100th of a percentage point.) That pulled inflation below 3% without a recession, setting the stage for the dot-com-led boom that capped the end of the century.
The economic soft landing wasn’t without bumps, however, including upheavals in the mortgage-backed securities market; the bankruptcy of Orange County, Calif., which bet the wrong way on interest-rate derivatives; and Mexico’s peso crisis, resulting in a U.S. bailout. In this century, however, the Fed has tightened gingerly, raising the funds rate in “measured” steps 17 times in 2004-06; maintaining zero rates until late 2015, long after the end of 2008-09 financial crisis; and now lifting rates from zero and ending massive securities purchases, well after the economy has recovered from the 2020 Covid crisis and with inflation at a four-decade high.
It appeared the Fed was going to continue that pattern, based on the actions and projections at its March 15-16 policy meeting. Its Summary of Economic Projections median year-end 2022 estimate for the key policy rate was 1.9%, with it topping out at 2.8% at the end of 2023 and 2024, slightly over the Fed’s estimate of a 2.4% neutral rate. That gentle snugging was supposed to sharply reduce inflation to the 2% range by the end of 2023, with no rise in unemployment and economic growth chugging along near 2%.
https://www.barrons.com/articles/federal-reserve-inflation-soft-landing-recession-51648252586
I'm not very good with economics but I check out non partisan sites like
https://www.barrons.com/articles/federal-reserve-inflation-soft-landing-recession-51648252586
Roger, tell us exactly in US History ,You're beloved Federal Reserve pull off a "soft landing"? With Inflatiron as high as it is.
Value of $1 from 1994 to 2022
$1 in 1994 is equivalent in purchasing power to about $1.95 today, an increase of $0.95 over 28 years. The dollar had an average inflation rate of 2.42% per year between 1994 and today, producing a cumulative price increase of 95.08%.
This means that today's prices are 1.95 times higher than average prices since 1994, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 51.282% of what it could buy back then.
The inflation rate in 1994 was 2.56%. The current inflation rate compared to last year is now 8.26%. If this number holds, $1 today will be equivalent in buying power to $1.08 next year. The current inflation rate page gives more detail on the latest inflation rates
Nice try Alky
Roger can't answer economic questions.
He has zero understanding.
He depends on writings of others.
Federal Reserve in effected Ended QE.
This is a huge problem for Bidenomics.
Former White House Press Secretary Kayleigh McEnany complained
"The D.C. jury pool, this is an area of our country where 76% of people in the District of Columbia are registered Democrat," the former White House staffer said. "This was a jury pool of 37 that was whittled down to a smaller number but of those 37 jurors, there were many avowed Clinton supporters who said they had donated to the Clinton campaign."
Lmao 🤣
Biden Policies caused this.
"International Energy Agency chief Fatih Birol has warned of a triple energy crisis that could be "much bigger" and longer lasting than the 1970s. GettyThe US and Europe face fuel shortages as summer vacations get underway, the head of the IEA told Der Spiegel.Fatih Birol warned of potential diesel, petrol, and kerosene shortages, and said the current energy crisis was worse than the 1970s."We have an oil crisis, a gas crisis and an electricity crisis simultaneously," he said."
Repeat, Roger can't answer economic question.
He has zero understanding.
Raising wages are inflationary.
Joe turn the freaking US oil/Gas back on.
"IEA chief warns of summer fuel shortages and a triple energy crisis that will outstrip the oil shocks of the 1970s"
Sounds like a statement of fact to me
Blogger KansasDemocrat said...
Repeat, Roger can't answer economic question.
He has zero understanding.
Raising wages are inflationary.
Nope he just spams, our blog host actually asked him to leave today, because he has no idea about what he’s copying and pasting but the pathetic locked up dementia addled old geezer can’t do it
The the Federal Reserve actually accomplished the rarest of economic feats—a soft landing, curtailing inflation without crashing into a recession.
The Fed did that by decisively tightening policy, starting with an unexpected 25 basis-point increase in the federal-funds rate. "Raising the on federal funds is a tool to reduce inflation by costing more money on bonds. It reduces inflation because there is less money to spend. It is a difficult task."
Raising wages are not inflationary if the profit rate goes down.
Raising wages are not inflationary if the profit rate goes down.
Bottom up economies and great news for the middle class.
The Fed did that by decisively tightening policy, starting with an unexpected 25 basis-point increase in the federal-funds rate. "Raising the on federal funds is a tool to reduce inflation by costing more money on bonds. It reduces inflation because there is less money to spend. It is a difficult task."
And you have no idea how this completely contradicts this statement
Blogger The Real Halfbaked Soars Pundit said...
Scott Biden reconstruction packages...are just getting started and wages will go up enough to balance the reduction of inflation that is projected to decrease fairly quickly 😳
You’re FUCKING STUPID and can’t get out of Medicaid acres on your own
Blogger The Real Halfbaked Soars Pundit said...
Raising wages are not inflationary if the profit rate goes down.
Well that’s the stupidest thing you’ve posted in the last 2 minutes, but there’s time
Indeed, the Sussmann trial revealed that the Clinton campaign did not want the FBI to open a probe into the Alfabank server because it feared an investigation would make it less likely that the media would write about the story at all. So to the extent Durham deepened the public understanding of Trump’s conspiracy theory of the Russia investigation, he inadvertently undermined it. I argued in 2020 that Joe Biden’s Justice Department was correct to let Durham continue his investigation because it would expose the hollowness of Trump’s allegations. And it has.
The final, largest hole in the conspiracy theory is that there were in fact serious grounds for suspicion. By 2016 it was already apparent that Trump had hired as his campaign manager a guy who owed money to a Russian oligarch and who had previously managed the foreign campaign of a Russian puppet, had publicly asked Russia to hack his opponent’s emails, had exploited the results of that hack, among other things. The investigation turned up many more details, including a secret meeting where Trump’s campaign manager passed polling data on to a Russian agent, a secret business deal that promised to give Trump hundreds of millions of dollars in profit at no risk (and which he was exposing himself to Russian blackmail by denying in public), and so on.
Why would Sussmann go to the FBI? No doubt he wanted Clinton to win. Durham presupposes this was his only motive. But Sussmann was also privy to an allegation whose technical details he wasn’t qualified to judge, but which had potentially alarming implications. The reason Sussmann was afraid Trump posed a security threat to the United States is that Trump posed a security threat to the United States.
Given that inflation so far has been near-entirely associated with historically high profit margins rather than real wage growth running far above productivity, it seems like asking employers to stand down first in the distributive conflict actually makes more sense (even if it likely wouldn’t be all that effective).
Some have claimed that the anti-profiteering view is actively harmful, as higher profit margins are a useful market signal that resources need to be deployed to specific sectors seeing a supply-demand imbalance. This strikes me as true only if we think the COVID-distorted shares of consumer spending will persist permanently—that U.S. consumers will never return to face-to-face services and will continue to plough historically large shares of their income into durable goods. Since I don’t think that’s true, I’m not particularly worried that jawboning corporations to accept thinner profit margins in coming months will impede the U.S. recovery.
An analogy is price-gouging after natural disasters. Nobody thinks it’s fair or useful for stores to charge desperate people $15 for a bottle of water after hurricanes. It’s obviously not fair and is illegal in many states, and it’s not useful because nobody thinks the potable water shortage right after a hurricane is permanent and requires the incentive of higher prices to move a huge amount of new resources into providing it.
But while pressuring corporations into accepting thinner profit margins certainly wouldn’t harm recovery and could in theory reduce some inflationary pressure going forward.
https://www.epi.org/blog/profits-wages-and-inflation-whats-really-going-on/
Josh Bivens
Director of Research
New School for Social Research Progressive Scholarship
Study with leading scholars and public intellectuals committed to expanding the boundaries of social thought, in one of the world’s hubs of scholarship and culture, New York City.
Those are some intellectual chops you plagiarized, Alky
THWAPP!!!THWAPP!!
LOL
I won’t even bother asking you if you have a clue
I Understand you’re so fucking stupid that you contradicted your stupidity in 5 posts.
just eat your mashed nanners and eat the blue pill tonight
Brain Dead
" Blogger The Real Halfbaked Soars Pundit said...
Raising wages are not inflationary if the profit rate goes down."
Roger, do you have an index that tracks your "profit rate"?
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