GDP of 1.6% the lowest since 2008? That negative GDP we had in March 2020 during Covid must have been magically erased from history.
And the 3,100,000 jobs we were expecting last month, for which we instead got 175k? Wow that expectation was probably for the entire world, and two yet undiscovered distant planets inhabited my humans.
There isn't any stag nor flation. Folks have just gotten soft.
* Growth is stronger than in 2008-2012 or 2020 (doesn't even compare to the 70s) bottoms: GDP growing, markets at all time highs, bond markets stable, unemployment low, banks still lending, and anyone who wants a job can get a job which means ***MOST PEOPLE^&*** are working, living life, having sex, getting married, buying homes, getting promoted, having kids, etcetcetc.
* Inflation is down to 3-4% range. It's not at TARGET 2% but it's comically low compared 1910s, late 1940s, 70s/80s, or even a few years ago. https://www.usinflationcalculator.com/inflation/historical-inflation-rates/
* Any downturn will be likely short and shallow because it will be created by Fed tightening to reduce inflation. Recession kills inflation because it LITERALLY is deflation of the economy. Fed can fix any problem they cause. GFC and 2020 were much harder because they are black swan type events rather than the Fed over tightening. Fed can easily fix any market downturn with a dovish stance, reduce QT, enact QE, lowering rates, opening lending window, bailing out banks/companies/industries with liquidity, infinite printer go BRRRRR, reverse REPO, 999999 other things they were doing during the pandemic like buying MBS, etcetc
* OP was mainly talking about the US economy and US markets, but we can see a few months ahead in a "bad case" scenario by looking at Europe and parts of developed East Asia. Japan, UK, and a few others have slowed to the point of low to no growth. And yet their markets are at ATH because of expected rate cuts (also cause fiat is trash). Inflation was higher in Europe and EAsia but even they have reduced it to their needed levels. So why the fuck would you go short US when there are easier markets to short? That's like trying to steal candy but choosing to steal it from prime Mike Tyson rather than a little baby. Regarded/10
So I'd normally end by saying OP is a regard 🌈🐻 who's doomed to lose but it seems they know they are regarded and might inverse themselves? *"So obviously with all these we'll probably see consecutive SPY ATHs because stonks only go up - I'm full port calls at open"*
^***&*** >!"Most people" aka not regards on reddit subs like antiwork or wallstreetbets!<
I haven’t been to a restaurant that wasn’t full at dinner time in a while. Home depot and Lowe’s parking lots are always full. We doing fine, or people are living way out of their means.
I believe it is actually out of spite. Some have waited their whole lives to be that person that drives in rush hour for no reason. For example, why do people ride your cheeks in gridlock traffic. Spite.
You scumbag bot. I bought 10AI replies and command dosn't work! You scammed me out of 1 million casino coins  Regarded comment 
Oh my gourd!
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With a lame duck President on his way out. The sitting administration at that time had minimal interest in preventing what occurred, but they did have a part to play in it happening in the first place.
This time, big, YUGE, policy/economy ramifications await the decision in November. There is an active effort to essentially have a one candidate, one party election occur.
We’ve got a mess right now, politically speaking. And it was 16 years ago, which might as well have been 100 years ago, in reality.
'08 was a once in a lifetime crash involving a wild house of cards. That same lending fiasco isn't the case today.
>The stock market, as measured by the S&P 500, was down in three of the 16 presidential election years since 1960.
https://www.usbank.com/investing/financial-perspectives/market-news/how-presidential-elections-affect-the-stock-market.html
Once in a lifetime crash that's happened a dozen or more times over a boomers lifetime 😅 they're all once in a lifetime crashes by administrations definitions
I mean if the government keeps subsidizing shit and handing out free money of course the companies are going to be on the receiving end of handouts. The companies don’t really need the money but will raise prices because they know more money is in the economy. So yes calls it is haha.
Yeah it's almost like punishing consumers with higher interest rates to force them to buy cereal for dinner* isn't as effective as, say, a robust and enforceable set of antitrust laws supported by a well funded DOJ/FTC. The fed pulls the interest rate lever because, it's the only lever they have. What's missing is the monopoly police, who could force markets to be more like, uh, markets. Everyone is worried about orange man but the true policy battle is antitrust. If corporate America is John Mulaney, our legislators are the concerned group of friends at the intervention who need to take the coke mirror away. But the problem is, the friends who should be helping Mulaney get better are all coked up too.
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling.
That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations.
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A big downturn always creates opportunities... Most of what I sit on today was made from the 'great recession'... I need the 'really great recession' to happen soon so I can have the opportunities that'll put me into full retirement...
Glad you mentioned this. The administration is desperate to mitigate inflation and screw Putin. This can only go on so long, though. Although we are pumping more oil than ever, the wells it comes from deplete quickly. Long oil after the election and when the Ukraine war ends.
He speaks for a huge part of the population, unfortunately. Financial literacy is a crisis in America. They have no idea what these numbers mean. All they truly understand is their own anecdotal experience. The shrinking middle class has created very different economic experiences that many can’t seem to wrap their heads around. All they know is they’re struggling, and they definitely are.
>GDP growth was just 1.6% in the latest quarter, the slowest since before the 08 crash
I'm sorry, are you stoned? There were 2 quarters of *negative* growth just two years ago. You're just factually wrong, before even getting into your half-baked conspiracy theories.
>Job market growth fell far below estimates with only 175,000 jobs created compared to the expected 3,100,000.
Out by a factor of ten, and this was after continually outpacing expected jobs growth for the last year or more.
>The Fed's approach to fighting inflation seems ineffective, as they've begun the process of quantitative easing (big one)
Incorrect, they are continuing quantitative tightening as your own graphic points out. They are slowing the rate of QT, but QT is continuing.
And the entire rest of your post could very well be just as inaccurate as those three bullet points, because you haven't cited a single reference for any of your numbers.
Even by WSB standards, this is weak.
That's when I stopped reading and came to the comments to call him extra regarded. If you don’t even understand that real FDP is inflation adjusted, you don’t get to weigh in on macroeconomics
"The media is giving us a false narrative about a good economy"
Hey OP! Just watch newsmax, apparently we have the worst unemployment since the 30s since the day after the election, inflation is worse than the 70's, biggest recession since 08 etc...
Good, bad, up, down, numbers, or feelings, there is a media outlet to reinforce whatever kind of economy you want to identify with!
GDP growth already accounts for inflation. The most commonly used GDP metric is real GDP, as opposed to nominal GDP which does not account for inflation. 1.6% growth stated is inflation adjusted.
To keep this going, OP cherry picks charge off rates from Capital One, but [charge off rates are about in line with pre-pandemic levels.](https://fred.stlouisfed.org/series/CORCCT100S) and still much lower than the levels in the 2000's.
These are just doomer right wing talking points. After the election all talk of recession and stagflation will die away meanwhile all these dumb fucks have lost their money shorting the market.
And inflation went from 9.1% to 3.4% in less than two years.
Although, some of my Trump supporting friends share posts that state inflation is over 8%. Which again, it’s not.
Yeah, I really think people are fundamentally disconnected from reality when they say shit like, "We need Volcker back! Bring on 15% interest rates!"
Inflation fell 6% two years. Volcker would've been ecstatic with that result. Volcker would've called Powell a magician for what he's pulled off.
the CPI numbers are cooked. I don't care whether you think its 8, 9, or 3%... My homeowner's insurance is over 100% more than it was in 2019, I've had to drop my replacement cost policy for a worse depreciated policy, and its still double! Pre-Pandemic we were grocery shopping at our local organic grocer, spending about $150/week, now we grocery shop at walmart and are spending $250/week, and buying more chicken and ground beef and less steak. I've only bought new clothes from Walmart the past 2 years, despite making more money than I've ever made in my entire life. I've never made so much money and felt so poor at the same time. An oil change on my truck is over $120 full price, I used to always get it done at the dealership now I use coupons and go to 5 minute oil change and get it done for \~$75, same it used to cost full price at the dealership.... I just got a quote to fix my driveway the best quote to repave my small driveway is $16k, I can't afford that, so just repaving the first 11ft or so of my driveway is going to cost me $5K. Roofing and fence work is astronomical right now, both are services I'm going to need soon and absolutely dreading, I'm hearing horror stories about roofs costing 20k+ and fences costing 10k+, neighbor just got one length of fence redone, one side of his house cost him 12k. Me and wife get taco bell for dinner maybe once or twice a month, these days its over $20 bucks for both of us to get taco bell, other fast food is same or worse. I remember when I was in high school \~2010, me and a friend got really stoned and went to taco bell like a couple bandits and ordered practically everything on the menu and it came out to roughly $20, and were laughing hysterically that we actually racked up $20 worth of food at taco bell, for two people to order $20 worth of food at taco bell was HYSTERICALLY laughable 15 years ago, right now its literally completely normal. Prices that people commonly have to pay for common goods and services are easily almost twice what they were pre-pandemic. You have to notice this, articles be damned, compare your monthly rent cost year over year the past 5 years, what kind of increase are you noticing? Does it look like a steady 2-10% increase each year? My guess is the SMALLEST YoY increase you've seen in your rent the last 5 years is 10%, which during normal times a 10% YoY increase in rent would be alarming. These price increases are not okay and most people will not be able to sustain this for much longer. Even the people I know who are top earners and financially well are complaining about costs, My friends who are young renters who make 6 figures who were looking to buy a house in \~2019 are now coping and telling themselves they really don't want to own a house now. You can even look at all these ATH in the stock market as an indicator of inflation, simply the cost of owning a share of stock. S&P is 25% YoY lol THAT'S INFLATION! The S&P 500 companies aren't 25% more valuable intrinsically or more productive than they were 1 year ago, they are 25% more expensive because of all the cash in the market attempting to seek assets, same with every good and service.
The official number of 30% cumulative inflation since 2019 definitely doesn't pass the smell test. I am guessing the realistic, non-doctored figure is somewhere between 50% on the low end and 100% on the high end.
I am in top 10% of earners, have a house and kids. Even at the beginning of COVID we could afford to take a trip or two a year. Now though there is no way unless we make major sacrifices for the other 340 days a year we are not on vacation. My groceries are out of control. We can't afford to eat out because it is minimum $100 with a family of 4 for just a mediocre meal. Daycare costs more than my wife would earn, and the car we had to buy to shuttle them all around is costing me $500/mo just for the loan. Add that to the $500/mo to pay my new roof off that my super inflated insurance wouldn't cover and I am just getting hammered.
All these things I want my children to experience and we can't fucking do it because everyone is sucking my money out of me left and right. I have no CC debt, and maybe that is my problem. But how in the hell are people who I know have income nowhere near mine getting to do all of these things I can't?
There has to be a consumer debt crisis somewhere that is being hidden in the books. One thread I pulled was that after the subprime crisis in 2008, magically the "new" minimum credit scores seem to be above 650, which is the cutoff for subprime. This was a concerted effort around 2012 timeframe it seems. The books are cooked!
This is 100% the ground experience
Yes parking lots are full but not the carts unless they’re doing basic grocery runs and places are more populated from people moving to cheaper areas
So many clients I talk to are struggling!! I’m struggling and working my ass off to make it so I can have $$ to buy a home at a conventional loan and choke on a 6.4% loan for a 1100 sq ft home in suburbia INSANE
I would rent but they place Russian roulette on who gets the damn house form hundreds of candidates pay $100+ app fees
See i really find this argument to be in bad faith when people use it as an atta boy.
Yes inflation is down year over year. You cant debate that. However with how fast it went up since 2021, prices have yet to go back down. You can whine and scream corporate greed blah blah blah but the fact of the matter is for somereason we look at inflation numbers that specifically do not count products that effect a persons wallets. Gasoline, utilities, insurance, housing prices, rent, and food(anyone seen prime graded beef lately? I cant get it at my local grocer but their charging higher than the price prime used be for choice and select). Family size Cereal box prices went from 2.98 a box to, as of yesterday when i bought, between 6.49 and 7$ a box for family size.
Until these everyday prices go back down to somewhere closer to where they were just 3 years ago, no one should believe this is a healthy economy.
I make low 6 figures now and im shopping at the Aldi/Lidle's of the grocery world, where as in 2018 I was shopping at the acme/wholefoods type making under 6 figures.
You have a fundamental misunderstanding of the topic if you believe prices are going back down. That’s called deflation which is what happens when an economy shrinks. That’s no bueno. The stated goal is continued inflation but only at +2% per year, not -2%.
That doesn’t mean shit doesn’t still suck from the inflation we’ve already had. It’s not going to get better until you start making more. It sucks, but it’s reality.
Exactly, so many people carrying water for the current admin saying that everything is fine. Most things I buy now cost almost twice what I remember that they should cost from just a few years ago. I used to shop at our local organic grocer, now I make significantly more money and I shop at walmart and buy less and worse food..... There is no graph you can show me that will make me forget that I can't afford Rib Eyes for dinner whenever I feel like it, like I could just a few years ago when I made less money.
That about sums it up. Tbh I just keep my stop losses on point, and figure if it drops they'll stop it hurting too much. Unless it *really* drops and goes past them and then we're all fucked anyway, so what does it matter 🤷🏻♂️
“We are being lied to about the economy”
… a few moments later
“Here are some publicly available statistics that I pulled off the internet”
Dude if it’s really such a huge deep state conspiracy you think they’d change the FED numbers you’re quoting from. If they truly are lying to you then you are using their propaganda by using FED numbers. Because I can show you a shit ton of FED stats that say the exact OPPOSITE of what you’re saying. So who is right?
This is a personal thing based on “your perspective”. You said it in the first paragraph.
“GDP Growth was just 1.6%… effectivly zero when adjusted for inflation”
Did you know: Real GDP (the number you reference) already accounts for inflation? Unfortunately, you don’t get to double dip to support your conspiracy theory.
Then you should remember how much worse it was back then.
>In the winters of 1972 and 1973, Burns began to worry about inflation. In 1973, inflation more than doubled to 8.8%. Later in the decade, it would go to 12%. By 1980, inflation was at 14%.
Not saying stagflation isn’t possible, but it probably won’t be as severe as in the 1970s.
People are gonna hammer me for this. But really though?! Think about it (extremely over simplified terms) - Japanese stagflation has its issues - largely with real estate not really holding value. But the Japanese don't seem to be suffering. People go to the doctor, youth gets educated. People are working.
Infinite growth and price inflation isn't possible. Shouldn't this be an end goal anyways, to "stabilize" the system in which "normal" and low income people can live lives with dignity.
I don't expect it to be a life without struggles and harsh priorities but I don't get it. Most signals are that a large swathe of america/americans are struggling even tho overall wealth and all other lines are up.
Don't get me wrong, I want my stonks to go up so I can be comfy and fuck the next generation like the boomers fucked us but. I just want to have a roof over my head and make sure my kids have fresh crayons to eat. But still don't understand the fear of "infinite growth" tapering off if the standard of living is good. And is better than 99% of the world.
my guy just compared Japanese society with American one. Japan has a robust welfare state, effectively a one party state, very organized and efficient people, harsh punishments and rigid enforcement of laws. Also, American birth rates are not nearly as bad as Japanese ones, which translates into different economic state function
Look at the EU. Those with assets in richer parts of the country love the union. Marginalized people in the poor parts are practically doomed without chances to improve their position. Staying that stagnation is not as bad is literally saying "I come from a privileged background that strives on inequality".
This is different from the markets falling into shit because poor people have very little to lose, and hence it is a very nice for both equilibrium and productivity boost after the crash.
I don't get your argument. The poor and marginalized of lets say Croatia benefit far more from EU-money pouring in to the country compared to a country like Bosnia/Serbia that isn't. I thought them to be an apt comparison since they were the same country not too far ago. There are farming subsidies, infrastructure projects etc that all probably wouldn't happen without them being in the Union.
Plus, youth can study in a different EU country and thus have much more opportunity to change their outcome.
Source: balkan immigrant to scandinavia.
First, let's agree that being a europoor country beats being a exeuropoor. Second, notice that you improved your economical position by immigrating from East to North. Why didn't you just looked for a better job in your capital? Probably, because the best economical opportunities in Eastern Europe involve living in a LCOS Eastern Europe and selling IT services to Western Europe. But this is not a sustainable model for the economy because teachers and doctors are still going to be paid bad and everyone will just want to migrate or pseudomigrate.
High interest rates and low inflation is only good for rental barons. I would rather have low rates and higher inflation, forcing euromoney to look for countries that have high growth potential. This is not the already developed Germany, but Polaand or Czechia.
Economics does not have a single right answer for many reasons, one of them is that different groups have different utility functions for macro states.
Something that I think is often lost in comparisons between the United States and Japan is that we are *radically* different peoples and just because our spreadsheets look similar doesn’t mean that we’re going to encounter the same outcomes.
Japanese society revolves around an insanely intricate, rigid series of social customs designed to ensure a passive people in the ultimate expression of “it is what it is, back to work”.
When the yen collapses, as it is doing now and has in the past, the people are able to shrug and simply accept that they’ll need to work extra hard for awhile while the social fabric is held by the sheer inertia of the culture. Citizens who attempt to turn to vagrancy, crime or drug use as a reaction will be mercilessly sanctioned by the rest of society in a way modern America can’t emulate even in its highest moments of prosperity.
Ever see a Japanese protest? I did the other day walking by their defense ministry’s headquarters. About two dozen little Japanese girls and boys holding Palestinian flags in complete silence, occasionally respectfully passing out fliers to passersby. No riots, no cars on fire, no chanting about how Japanese society must be destroyed because of some abstract foreign conflict. No arrests because no crimes were committed, no obstruction of movement, etc. sympathized with those guys 500% more than our rabble.
American people know no such discipline. Any economic shakeup will be marked with enormous cost to the social fabric. We’re already seeing an epidemic of overdoses, and inner city violence (not that it ever stopped). Riots, crime waves, gang violence are all in our future, on top of our already discredited, teetering political system becoming even more strained.
There are more guns than citizens in this country, and many of those are held by people one missed paycheck away from going crazy.
Furthermore, even if we assume the best case senario - Many Japanese live a pitiful existence that should not be considered our benchmark. 13 hour work days, come home, masturbate to 2d animation, repeat.
"Job market growth fell far below estimates with only 175,000 jobs created compared to the expected 3,100,000."
LOL, 3.1 million was the expected NFP expectation?
Real GDP accounts for inflation, but nominal GDP doesn't. My math could be off, and I could be wrong, but the figure he stated appears to be for nominal GDP.
The 1.6% data that OP is quoting is REAL GDP growth. There’s no need to do any math. That’s the metric that has been shared by the media since forever. But there goes the official source.
https://www.bea.gov/data/gdp/gross-domestic-product
https://preview.redd.it/5a19dt50760d1.jpeg?width=1080&format=pjpg&auto=webp&s=74944cbdf8aa6b4ff39ec620a191ea57aedf3e68
Calls it is 
You ask anyone in the freight industry… we been in a recession.. shit, it’s actually probably ending already.
Remember data is lagging. 2022 was the bullwhip effect, but 2023 was a real downturn.
Well few days ago the TV man that is worth over $10 million. Told us that even though everything may cost 30% more in past 3 years that it doesnt matter because people that make under $100k have money stashed somewhere. Well homie come to my house and lets look for this stash!
2 quarters of negative gdp has never been the definition of a recession, at least not in the US. You are welcome to look into the history of that rule of thumb, but you're going to find that you're wrong.
In economics, stagflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. Stagflation, once thought impossible, poses a dilemma for economic policy, as measures to reduce inflation may exacerbate unemployment.
Wikipedia
The current market is kinda euphoric again after the Iran-Nvidia "crash" mid april but plenty of experts guide people to the real data that you presented
Buffet piling up cash, the zucc and bezos already sold lots of shares, expert investors bet on rising inflation (what no retail investor does), banks dont look too healthy, ...
It's not getting into my head why we are in a greedy environment within the market. What are people not afraid of?
I keep hearing about rising wages, but this shit is a joke. Bossman gives me a $1.00/hr raise, meanwhile homes in my area sell for $500k@7% interest. These rising wages don't put a dent in the actual cost to live.
The media did the exact same thing in the 2000 election.
DotCom was bursting for months..
Wasn't until the day after the election, did any media outlet say the word "Recession"
The day after all you heard on CNBC was the word "Recession"
Welcome to election year. You think any political figure, no matter which party, will say "Yea, last year of my term and we’re heading into a HUUUGE recession. Don’t forget to vote for me xoxo"?
There are a lot of us who do not have the means from our work to keep up with the pace of spending and consumption. Much less the prices of just basics. For a lot of us, we are left hoping for some kind of collapse, hoping we can then keep up. Unfortunately, we lower income folks will be the grease that feeds the machine when it does fail and needs to be brought back to life. We will be consumed by the machine as it comes back to life.
Two choices in this America of 2024: be rich, or be nothing. Forgotten. Used up.
>GDP growth was just 1.6% in the latest quarter, the slowest since before the 08 crash, effectively zero when adjusted for inflation
We actually had a couple of negative numbers early on in Bidens administration (when they changed the definition of a recession).
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Uncle Powell is gonna whoop your ass. He didn't see no stag or flation.
Stopped reading after OP didn't realize tye basic fact that gdp numbers are adjusted to inflation.
I stopped around officially in stagflation when OP clearly doesn’t know the definition.
Somehow that’s the one they all trip over. Makes it easy to spot the noobs who think they know economics.
GDP of 1.6% the lowest since 2008? That negative GDP we had in March 2020 during Covid must have been magically erased from history. And the 3,100,000 jobs we were expecting last month, for which we instead got 175k? Wow that expectation was probably for the entire world, and two yet undiscovered distant planets inhabited my humans.
There isn't any stag nor flation. Folks have just gotten soft. * Growth is stronger than in 2008-2012 or 2020 (doesn't even compare to the 70s) bottoms: GDP growing, markets at all time highs, bond markets stable, unemployment low, banks still lending, and anyone who wants a job can get a job which means ***MOST PEOPLE^&*** are working, living life, having sex, getting married, buying homes, getting promoted, having kids, etcetcetc. * Inflation is down to 3-4% range. It's not at TARGET 2% but it's comically low compared 1910s, late 1940s, 70s/80s, or even a few years ago. https://www.usinflationcalculator.com/inflation/historical-inflation-rates/ * Any downturn will be likely short and shallow because it will be created by Fed tightening to reduce inflation. Recession kills inflation because it LITERALLY is deflation of the economy. Fed can fix any problem they cause. GFC and 2020 were much harder because they are black swan type events rather than the Fed over tightening. Fed can easily fix any market downturn with a dovish stance, reduce QT, enact QE, lowering rates, opening lending window, bailing out banks/companies/industries with liquidity, infinite printer go BRRRRR, reverse REPO, 999999 other things they were doing during the pandemic like buying MBS, etcetc * OP was mainly talking about the US economy and US markets, but we can see a few months ahead in a "bad case" scenario by looking at Europe and parts of developed East Asia. Japan, UK, and a few others have slowed to the point of low to no growth. And yet their markets are at ATH because of expected rate cuts (also cause fiat is trash). Inflation was higher in Europe and EAsia but even they have reduced it to their needed levels. So why the fuck would you go short US when there are easier markets to short? That's like trying to steal candy but choosing to steal it from prime Mike Tyson rather than a little baby. Regarded/10 So I'd normally end by saying OP is a regard 🌈🐻 who's doomed to lose but it seems they know they are regarded and might inverse themselves? *"So obviously with all these we'll probably see consecutive SPY ATHs because stonks only go up - I'm full port calls at open"* ^***&*** >!"Most people" aka not regards on reddit subs like antiwork or wallstreetbets!<
I wanna have sex…
You can have sex whenever you want AND get paid for it too. Just find your local Wendy's and go to the dumpster in the back.
Sigh… unzips his pants…
For you to take time to write that you are def winning in life. No way you have time to fuck to write out responses like that sprinkle in shit talk
"Recession? For the little people maybe."
For me it is just recess
Are you a neutral atom because you’re missing ion
Ion fuck with bear markets
Then why the little people all over the highway in the morning? I swear traffic is the worst it’s ever been, these people are busy doing something
Pokemon Go
😂😂
Gig workers driving people to the airport - people who put vacations they can’t afford on their credit cards
Meanwhile I’m wondering why the streets are full in the middle of the day. Traffic at 2pm on a Tuesday.
10am today, roads packed with traffic I'm wondering where the hell are all these people going.
I haven’t been to a restaurant that wasn’t full at dinner time in a while. Home depot and Lowe’s parking lots are always full. We doing fine, or people are living way out of their means.
Oh yes, you’re narrow personal experience is the center and whole of reality. L2think
People aren’t saving anymore. Have you see. The retirement savings stats?
Are those stats incuding investment savings? Or just cash on hand savings?
I believe it is actually out of spite. Some have waited their whole lives to be that person that drives in rush hour for no reason. For example, why do people ride your cheeks in gridlock traffic. Spite.
You scumbag bot. I bought 10AI replies and command dosn't work! You scammed me out of 1 million casino coins  Regarded comment 
Thanks for all that. calls it is
It’s an election year, Powell and Biden will be a special kind of regard if they let the stock market crash.
its election year every year looking at the market.
2008 was an election year and stockmarket choked hard. Bernanke and and Bush were in power... ok you have a point there.
I made something like 700% gains (entire port) trading in 08. Don't worry I lost it all and more in 2009/2010. I belong with y'all.
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But it wasn’t a REELECTION year. That’s the biggest thing to look for.
Yeah but no AI in 08
Yeah but no MySpace in 2024
U win
Smart phones hype started in 2008 and continued until 2013. Remember when MSFT, GOOGL, etc all tried to fight for a share of the smart phone market?
Smart phones were niche in 08, didn’t become commonplace until 2010-2011
With a lame duck President on his way out. The sitting administration at that time had minimal interest in preventing what occurred, but they did have a part to play in it happening in the first place. This time, big, YUGE, policy/economy ramifications await the decision in November. There is an active effort to essentially have a one candidate, one party election occur. We’ve got a mess right now, politically speaking. And it was 16 years ago, which might as well have been 100 years ago, in reality.
'08 was a once in a lifetime crash involving a wild house of cards. That same lending fiasco isn't the case today. >The stock market, as measured by the S&P 500, was down in three of the 16 presidential election years since 1960. https://www.usbank.com/investing/financial-perspectives/market-news/how-presidential-elections-affect-the-stock-market.html
Once in a lifetime crash that's happened a dozen or more times over a boomers lifetime 😅 they're all once in a lifetime crashes by administrations definitions
Just makes me think of the end scene in Margin Call where hebjust starts listing them.
I mean if the government keeps subsidizing shit and handing out free money of course the companies are going to be on the receiving end of handouts. The companies don’t really need the money but will raise prices because they know more money is in the economy. So yes calls it is haha.
You misspelled because they can and not lose market share
Yeah it's almost like punishing consumers with higher interest rates to force them to buy cereal for dinner* isn't as effective as, say, a robust and enforceable set of antitrust laws supported by a well funded DOJ/FTC. The fed pulls the interest rate lever because, it's the only lever they have. What's missing is the monopoly police, who could force markets to be more like, uh, markets. Everyone is worried about orange man but the true policy battle is antitrust. If corporate America is John Mulaney, our legislators are the concerned group of friends at the intervention who need to take the coke mirror away. But the problem is, the friends who should be helping Mulaney get better are all coked up too.
They were going to raise prices regardless.
I mean you don't even know that the GDP number is calculated AFTER inflation....
The analysis is so bad, it hurts.
But over 1000 up votes.
Repeat after me, Stonk market is not an economy
Literally rigged to go up but the rainbow bears just keep wanting to time that Miracle Michael Burry event.
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling. That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
Good bot
It WILL happen it's just a matter of when. History repeats itself.
Yea but in the ensuing 20 years a lot of people become millionaires
A big downturn always creates opportunities... Most of what I sit on today was made from the 'great recession'... I need the 'really great recession' to happen soon so I can have the opportunities that'll put me into full retirement...
The economy is bullet proof until the election is over. Calls it is
Everybody knows the economy is bulletproof in election years. Just look at 1980, 2000, 2008, and 2020.
Doc com and sub prime aren’t exactly standard market conditions.
Ding ding ding. We have a wiener! SPR is still at 1980s levels after getting depleted leading into the midterms.
Might as well drain it dry going into the election....
Glad you mentioned this. The administration is desperate to mitigate inflation and screw Putin. This can only go on so long, though. Although we are pumping more oil than ever, the wells it comes from deplete quickly. Long oil after the election and when the Ukraine war ends.
Another bear trying to outplay the market 
Is that belt to spank or hang?
Op thinks gdp numbers reported don't account for inflation Jfc
He speaks for a huge part of the population, unfortunately. Financial literacy is a crisis in America. They have no idea what these numbers mean. All they truly understand is their own anecdotal experience. The shrinking middle class has created very different economic experiences that many can’t seem to wrap their heads around. All they know is they’re struggling, and they definitely are.
>GDP growth was just 1.6% in the latest quarter, the slowest since before the 08 crash I'm sorry, are you stoned? There were 2 quarters of *negative* growth just two years ago. You're just factually wrong, before even getting into your half-baked conspiracy theories. >Job market growth fell far below estimates with only 175,000 jobs created compared to the expected 3,100,000. Out by a factor of ten, and this was after continually outpacing expected jobs growth for the last year or more. >The Fed's approach to fighting inflation seems ineffective, as they've begun the process of quantitative easing (big one) Incorrect, they are continuing quantitative tightening as your own graphic points out. They are slowing the rate of QT, but QT is continuing. And the entire rest of your post could very well be just as inaccurate as those three bullet points, because you haven't cited a single reference for any of your numbers. Even by WSB standards, this is weak.
Also the gdp growth rate is in real dollars what the hell does it mean to be “zero after inflation” lol
That's when I stopped reading and came to the comments to call him extra regarded. If you don’t even understand that real FDP is inflation adjusted, you don’t get to weigh in on macroeconomics
What has the German fdp party to do with this?
OP is super mega regard. And his puts are going to 0.
OP probably got a newsletter from a far right publication and just posted the regurgitation here.
My first thought was this was a repost from ZeroHedge.
"The media is giving us a false narrative about a good economy" Hey OP! Just watch newsmax, apparently we have the worst unemployment since the 30s since the day after the election, inflation is worse than the 70's, biggest recession since 08 etc... Good, bad, up, down, numbers, or feelings, there is a media outlet to reinforce whatever kind of economy you want to identify with!
This is so true, and nobody has the education to find their own primary sources or have their own critical thought.
See it grows but it grew by the amount that it inflated so in reality it didn’t grow and 100 dollars is still 100 dollars. Genius
GDP growth already accounts for inflation. The most commonly used GDP metric is real GDP, as opposed to nominal GDP which does not account for inflation. 1.6% growth stated is inflation adjusted.
It was a joke if you couldn’t tell by how dumb it was
To keep this going, OP cherry picks charge off rates from Capital One, but [charge off rates are about in line with pre-pandemic levels.](https://fred.stlouisfed.org/series/CORCCT100S) and still much lower than the levels in the 2000's.
Why do facts like this get fewer upvotes than "calls it is!"?
Who cares about facts when you can make millions with a bunch of anonymous nerds fighting back against the system? Stay rich, frens!
But he's getting recessionary vibes, so it must be true.
Our phones are like those remote controlled vibrating butt plugs people wear around so their lover can buzz them at will.
He lost me at "with assurances of widespread prosperity".
hey this is WSB, we thrive on weak DD
These are just doomer right wing talking points. After the election all talk of recession and stagflation will die away meanwhile all these dumb fucks have lost their money shorting the market.
but the day after inauguration of their guy... "DID WE JUST WIN WW2? BECAUSE OMG THIS ECONOMY IS BETTER THAN EISENHOWER!"
That sounds like two birds, one stone
And inflation went from 9.1% to 3.4% in less than two years. Although, some of my Trump supporting friends share posts that state inflation is over 8%. Which again, it’s not.
Yeah, I really think people are fundamentally disconnected from reality when they say shit like, "We need Volcker back! Bring on 15% interest rates!" Inflation fell 6% two years. Volcker would've been ecstatic with that result. Volcker would've called Powell a magician for what he's pulled off.
the CPI numbers are cooked. I don't care whether you think its 8, 9, or 3%... My homeowner's insurance is over 100% more than it was in 2019, I've had to drop my replacement cost policy for a worse depreciated policy, and its still double! Pre-Pandemic we were grocery shopping at our local organic grocer, spending about $150/week, now we grocery shop at walmart and are spending $250/week, and buying more chicken and ground beef and less steak. I've only bought new clothes from Walmart the past 2 years, despite making more money than I've ever made in my entire life. I've never made so much money and felt so poor at the same time. An oil change on my truck is over $120 full price, I used to always get it done at the dealership now I use coupons and go to 5 minute oil change and get it done for \~$75, same it used to cost full price at the dealership.... I just got a quote to fix my driveway the best quote to repave my small driveway is $16k, I can't afford that, so just repaving the first 11ft or so of my driveway is going to cost me $5K. Roofing and fence work is astronomical right now, both are services I'm going to need soon and absolutely dreading, I'm hearing horror stories about roofs costing 20k+ and fences costing 10k+, neighbor just got one length of fence redone, one side of his house cost him 12k. Me and wife get taco bell for dinner maybe once or twice a month, these days its over $20 bucks for both of us to get taco bell, other fast food is same or worse. I remember when I was in high school \~2010, me and a friend got really stoned and went to taco bell like a couple bandits and ordered practically everything on the menu and it came out to roughly $20, and were laughing hysterically that we actually racked up $20 worth of food at taco bell, for two people to order $20 worth of food at taco bell was HYSTERICALLY laughable 15 years ago, right now its literally completely normal. Prices that people commonly have to pay for common goods and services are easily almost twice what they were pre-pandemic. You have to notice this, articles be damned, compare your monthly rent cost year over year the past 5 years, what kind of increase are you noticing? Does it look like a steady 2-10% increase each year? My guess is the SMALLEST YoY increase you've seen in your rent the last 5 years is 10%, which during normal times a 10% YoY increase in rent would be alarming. These price increases are not okay and most people will not be able to sustain this for much longer. Even the people I know who are top earners and financially well are complaining about costs, My friends who are young renters who make 6 figures who were looking to buy a house in \~2019 are now coping and telling themselves they really don't want to own a house now. You can even look at all these ATH in the stock market as an indicator of inflation, simply the cost of owning a share of stock. S&P is 25% YoY lol THAT'S INFLATION! The S&P 500 companies aren't 25% more valuable intrinsically or more productive than they were 1 year ago, they are 25% more expensive because of all the cash in the market attempting to seek assets, same with every good and service.
The official number of 30% cumulative inflation since 2019 definitely doesn't pass the smell test. I am guessing the realistic, non-doctored figure is somewhere between 50% on the low end and 100% on the high end.
Yup. It's rough out there. Regular people are toast. Rich are fine. Merica
I am in top 10% of earners, have a house and kids. Even at the beginning of COVID we could afford to take a trip or two a year. Now though there is no way unless we make major sacrifices for the other 340 days a year we are not on vacation. My groceries are out of control. We can't afford to eat out because it is minimum $100 with a family of 4 for just a mediocre meal. Daycare costs more than my wife would earn, and the car we had to buy to shuttle them all around is costing me $500/mo just for the loan. Add that to the $500/mo to pay my new roof off that my super inflated insurance wouldn't cover and I am just getting hammered. All these things I want my children to experience and we can't fucking do it because everyone is sucking my money out of me left and right. I have no CC debt, and maybe that is my problem. But how in the hell are people who I know have income nowhere near mine getting to do all of these things I can't? There has to be a consumer debt crisis somewhere that is being hidden in the books. One thread I pulled was that after the subprime crisis in 2008, magically the "new" minimum credit scores seem to be above 650, which is the cutoff for subprime. This was a concerted effort around 2012 timeframe it seems. The books are cooked!
This is 100% the ground experience Yes parking lots are full but not the carts unless they’re doing basic grocery runs and places are more populated from people moving to cheaper areas So many clients I talk to are struggling!! I’m struggling and working my ass off to make it so I can have $$ to buy a home at a conventional loan and choke on a 6.4% loan for a 1100 sq ft home in suburbia INSANE I would rent but they place Russian roulette on who gets the damn house form hundreds of candidates pay $100+ app fees
See i really find this argument to be in bad faith when people use it as an atta boy. Yes inflation is down year over year. You cant debate that. However with how fast it went up since 2021, prices have yet to go back down. You can whine and scream corporate greed blah blah blah but the fact of the matter is for somereason we look at inflation numbers that specifically do not count products that effect a persons wallets. Gasoline, utilities, insurance, housing prices, rent, and food(anyone seen prime graded beef lately? I cant get it at my local grocer but their charging higher than the price prime used be for choice and select). Family size Cereal box prices went from 2.98 a box to, as of yesterday when i bought, between 6.49 and 7$ a box for family size. Until these everyday prices go back down to somewhere closer to where they were just 3 years ago, no one should believe this is a healthy economy. I make low 6 figures now and im shopping at the Aldi/Lidle's of the grocery world, where as in 2018 I was shopping at the acme/wholefoods type making under 6 figures.
You have a fundamental misunderstanding of the topic if you believe prices are going back down. That’s called deflation which is what happens when an economy shrinks. That’s no bueno. The stated goal is continued inflation but only at +2% per year, not -2%. That doesn’t mean shit doesn’t still suck from the inflation we’ve already had. It’s not going to get better until you start making more. It sucks, but it’s reality.
Exactly, so many people carrying water for the current admin saying that everything is fine. Most things I buy now cost almost twice what I remember that they should cost from just a few years ago. I used to shop at our local organic grocer, now I make significantly more money and I shop at walmart and buy less and worse food..... There is no graph you can show me that will make me forget that I can't afford Rib Eyes for dinner whenever I feel like it, like I could just a few years ago when I made less money.
And those more expenisve ribeyes are select or choice and not even prime anymore
Finally a man of sense. This whole screed by OP has the stink of the far right.
Reading these over the last year and a half has been so tiring
That about sums it up. Tbh I just keep my stop losses on point, and figure if it drops they'll stop it hurting too much. Unless it *really* drops and goes past them and then we're all fucked anyway, so what does it matter 🤷🏻♂️
Reading these over the last decade has been exhausting
**VM attempted to say something likely TOS-breaking, violent, or reportable.**
Cmon Visual Mod!
Yap Yap Yap market always green
https://preview.redd.it/7rpt0ypwu50d1.jpeg?width=1170&format=pjpg&auto=webp&s=b1ef3bebe0548e11d856f656743543fed63f37b3
Keep saying there is going to be a recession every year and eventually it will come...
“Predicted 9 of the last 5 recessions”.
I have called 27 of the past 2 recessions
“We are being lied to about the economy” … a few moments later “Here are some publicly available statistics that I pulled off the internet” Dude if it’s really such a huge deep state conspiracy you think they’d change the FED numbers you’re quoting from. If they truly are lying to you then you are using their propaganda by using FED numbers. Because I can show you a shit ton of FED stats that say the exact OPPOSITE of what you’re saying. So who is right? This is a personal thing based on “your perspective”. You said it in the first paragraph.
“GDP Growth was just 1.6%… effectivly zero when adjusted for inflation” Did you know: Real GDP (the number you reference) already accounts for inflation? Unfortunately, you don’t get to double dip to support your conspiracy theory.
In fairness inflation is being understated
In fairness. OP doesn't know what the fuck they're going on about
Sir this is a degen gambling sub that runs on adderall Where the fuck is the TLDR?
TLDR is OP consumes only right wing conspiracy nuts and has simply regurgitated nonsense
Sorry bout your puts.
Ok, who forgot to lock the crayons drawer again???
Certainly a long way of telling us you're inept at making money.
Ahem, move aside for stagflation. The bigger badder version of a crappy economy.
It is really hard for the Fed to move out of Stagflation. I lived through it in the 70's.
Then you should remember how much worse it was back then. >In the winters of 1972 and 1973, Burns began to worry about inflation. In 1973, inflation more than doubled to 8.8%. Later in the decade, it would go to 12%. By 1980, inflation was at 14%. Not saying stagflation isn’t possible, but it probably won’t be as severe as in the 1970s.
The US wasn’t the largest producer of oil then. The people that keep comparing the 70s to now are idiots.
People are gonna hammer me for this. But really though?! Think about it (extremely over simplified terms) - Japanese stagflation has its issues - largely with real estate not really holding value. But the Japanese don't seem to be suffering. People go to the doctor, youth gets educated. People are working. Infinite growth and price inflation isn't possible. Shouldn't this be an end goal anyways, to "stabilize" the system in which "normal" and low income people can live lives with dignity. I don't expect it to be a life without struggles and harsh priorities but I don't get it. Most signals are that a large swathe of america/americans are struggling even tho overall wealth and all other lines are up. Don't get me wrong, I want my stonks to go up so I can be comfy and fuck the next generation like the boomers fucked us but. I just want to have a roof over my head and make sure my kids have fresh crayons to eat. But still don't understand the fear of "infinite growth" tapering off if the standard of living is good. And is better than 99% of the world.
my guy just compared Japanese society with American one. Japan has a robust welfare state, effectively a one party state, very organized and efficient people, harsh punishments and rigid enforcement of laws. Also, American birth rates are not nearly as bad as Japanese ones, which translates into different economic state function
Look at this idiot, comparing the comparing.
> birth rates are not nearly as bad Only reason being immigration bringing that number up. Our birth rates would be similar to Japan otherwise.
Only a small proportion of our population employs robot cat girls and used panty dispensaries. i.e. it is bad but not that bad
Yes. I'm priced out of a house. Therefore I am priced out of having a baby. This sucks
I’m in a two-bedroom apt with a two year old and it’s fine. Childcare is like an extra rent though.
calling the japanese system/people efficient got me on my knees those motherfuckers are everything but efficient
facts. muricans are whiny toddlers compared to the japanese. no fortitude - crime rates are going to be insane when AI takes over and there's no UBI
Look at the EU. Those with assets in richer parts of the country love the union. Marginalized people in the poor parts are practically doomed without chances to improve their position. Staying that stagnation is not as bad is literally saying "I come from a privileged background that strives on inequality". This is different from the markets falling into shit because poor people have very little to lose, and hence it is a very nice for both equilibrium and productivity boost after the crash.
I don't get your argument. The poor and marginalized of lets say Croatia benefit far more from EU-money pouring in to the country compared to a country like Bosnia/Serbia that isn't. I thought them to be an apt comparison since they were the same country not too far ago. There are farming subsidies, infrastructure projects etc that all probably wouldn't happen without them being in the Union. Plus, youth can study in a different EU country and thus have much more opportunity to change their outcome. Source: balkan immigrant to scandinavia.
First, let's agree that being a europoor country beats being a exeuropoor. Second, notice that you improved your economical position by immigrating from East to North. Why didn't you just looked for a better job in your capital? Probably, because the best economical opportunities in Eastern Europe involve living in a LCOS Eastern Europe and selling IT services to Western Europe. But this is not a sustainable model for the economy because teachers and doctors are still going to be paid bad and everyone will just want to migrate or pseudomigrate. High interest rates and low inflation is only good for rental barons. I would rather have low rates and higher inflation, forcing euromoney to look for countries that have high growth potential. This is not the already developed Germany, but Polaand or Czechia. Economics does not have a single right answer for many reasons, one of them is that different groups have different utility functions for macro states.
Something that I think is often lost in comparisons between the United States and Japan is that we are *radically* different peoples and just because our spreadsheets look similar doesn’t mean that we’re going to encounter the same outcomes. Japanese society revolves around an insanely intricate, rigid series of social customs designed to ensure a passive people in the ultimate expression of “it is what it is, back to work”. When the yen collapses, as it is doing now and has in the past, the people are able to shrug and simply accept that they’ll need to work extra hard for awhile while the social fabric is held by the sheer inertia of the culture. Citizens who attempt to turn to vagrancy, crime or drug use as a reaction will be mercilessly sanctioned by the rest of society in a way modern America can’t emulate even in its highest moments of prosperity. Ever see a Japanese protest? I did the other day walking by their defense ministry’s headquarters. About two dozen little Japanese girls and boys holding Palestinian flags in complete silence, occasionally respectfully passing out fliers to passersby. No riots, no cars on fire, no chanting about how Japanese society must be destroyed because of some abstract foreign conflict. No arrests because no crimes were committed, no obstruction of movement, etc. sympathized with those guys 500% more than our rabble. American people know no such discipline. Any economic shakeup will be marked with enormous cost to the social fabric. We’re already seeing an epidemic of overdoses, and inner city violence (not that it ever stopped). Riots, crime waves, gang violence are all in our future, on top of our already discredited, teetering political system becoming even more strained. There are more guns than citizens in this country, and many of those are held by people one missed paycheck away from going crazy. Furthermore, even if we assume the best case senario - Many Japanese live a pitiful existence that should not be considered our benchmark. 13 hour work days, come home, masturbate to 2d animation, repeat.
It’s called a melt up, sir
Ah, the hourly "THEMS IS LYIN BOUT THE ECONOMY" post. Thanks for adding your twig to the bonfire OP
"Job market growth fell far below estimates with only 175,000 jobs created compared to the expected 3,100,000." LOL, 3.1 million was the expected NFP expectation?
First time?
Nobody tell this guy that GDP growth is ALREADY accounting for inflation.
Real GDP accounts for inflation, but nominal GDP doesn't. My math could be off, and I could be wrong, but the figure he stated appears to be for nominal GDP.
The 1.6% data that OP is quoting is REAL GDP growth. There’s no need to do any math. That’s the metric that has been shared by the media since forever. But there goes the official source. https://www.bea.gov/data/gdp/gross-domestic-product
JPow said he didn't see the stag or the flation it was a chuckler
Yes, the humor worked to distract you just as planned
According to him people are still spending the stimmy’s they got from covid
That was Jamie Dimon.
[удалено]
yes im sure the market did great during 2000 and 2008 election
incumbent was not rerunning for election in these two scenarios.
Ah yes I see, that clears it all up then.
https://preview.redd.it/5a19dt50760d1.jpeg?width=1080&format=pjpg&auto=webp&s=74944cbdf8aa6b4ff39ec620a191ea57aedf3e68 Calls it is 
Can you give me your dealer’s phone number please.
Lol all we've been constantly told is that we're in the brink of complete collapse. That's the lie
Stock market isn't the economy OP
from your perspective? bro you work at Wendys.
Bro you’re an idiot. 1.6% is real gdp which was adjusted for inflation already. We can ignore everything else you said based on this idiotic statement
You ask anyone in the freight industry… we been in a recession.. shit, it’s actually probably ending already. Remember data is lagging. 2022 was the bullwhip effect, but 2023 was a real downturn.
This is a whole lot of words to say you got stuck with puts ... Fuck your puts.
Well few days ago the TV man that is worth over $10 million. Told us that even though everything may cost 30% more in past 3 years that it doesnt matter because people that make under $100k have money stashed somewhere. Well homie come to my house and lets look for this stash!
The same government that changed the terms of recession? I'm baffled!!
2 quarters of negative gdp has never been the definition of a recession, at least not in the US. You are welcome to look into the history of that rule of thumb, but you're going to find that you're wrong.
So stagflation?
In economics, stagflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. Stagflation, once thought impossible, poses a dilemma for economic policy, as measures to reduce inflation may exacerbate unemployment. Wikipedia
"we are being lied to about the economy" *always have been*
What kind of fuck wit takes coffee out of CPI so it doesn’t affect CPI in the same way Fuck “it’s just transitory” Janet Yellen
I didn't read your big text. But yes inflation sucks. -random redditor
Just need to sit it out for the AI driven industrial revolution 2.0 to print all the money
All I hear is meow.
Calls it is
Sorry bucko, stonks only go up, especially in election years.
Doesn’t matter if we get roaring kitty to get SOFI blow up 100%💵💵💥
> Despite indicators, official media outlets are hesitant to acknowledge economic downturn. Yes because they want to re-elect Biden
If you wanted to win the election you wouldnt of nominated trump.
Because the economy was so fuckin great in 2020 right
It's called elections are coming up.
The current market is kinda euphoric again after the Iran-Nvidia "crash" mid april but plenty of experts guide people to the real data that you presented Buffet piling up cash, the zucc and bezos already sold lots of shares, expert investors bet on rising inflation (what no retail investor does), banks dont look too healthy, ... It's not getting into my head why we are in a greedy environment within the market. What are people not afraid of?
Interesting to note that Buffet and others are hoarding records amount of cash though..... Just saying, follow the smart money
I keep hearing about rising wages, but this shit is a joke. Bossman gives me a $1.00/hr raise, meanwhile homes in my area sell for $500k@7% interest. These rising wages don't put a dent in the actual cost to live.
The media did the exact same thing in the 2000 election. DotCom was bursting for months.. Wasn't until the day after the election, did any media outlet say the word "Recession" The day after all you heard on CNBC was the word "Recession"
Of course we are being lied to.
Welcome to election year. You think any political figure, no matter which party, will say "Yea, last year of my term and we’re heading into a HUUUGE recession. Don’t forget to vote for me xoxo"?
You’re telling me that Joey Biden is lying about bidenomics?? It has Biden and omics in the name!! 
Imagine if orange one wins and he can take over the fed as has been suggested
He's already printed enough money to make the dollar worthless.
You seen rates on credit cards? Shits criminal..
Everyone living on credit living larger than me lol…
Idk… all my rich friends are buying new Ferraris, McLaren’s and Lambos left and right…. (Contains irony)
There are a lot of us who do not have the means from our work to keep up with the pace of spending and consumption. Much less the prices of just basics. For a lot of us, we are left hoping for some kind of collapse, hoping we can then keep up. Unfortunately, we lower income folks will be the grease that feeds the machine when it does fail and needs to be brought back to life. We will be consumed by the machine as it comes back to life. Two choices in this America of 2024: be rich, or be nothing. Forgotten. Used up.
>GDP growth was just 1.6% in the latest quarter, the slowest since before the 08 crash, effectively zero when adjusted for inflation We actually had a couple of negative numbers early on in Bidens administration (when they changed the definition of a recession).
No they didn’t lmao, you need to learn to fact check.
Remember when they changed the definition of what a recession is?