I'm surprised there hasn't been more news about the hot mess that is the legal woes of the real estate market. I've been watching the RealPage class action lawsuit ever since I heard about it, and now there's news that the FBI raided the offices of one of the real estate corps in Atlanta.
"The rent is too damn high!" is a meme but it's also the truth. As one of the few of my Xennial cohort with no mortgage (thanks to Mr. Anzu going full Mr. Money Mustasche on it years ago and paying it off 20 years early) I am always horrified to hear how bad my peers have it out there. $2000 for a 1 bedroom loft a mile from the nearest bus stop.
...and the right wingnuts are doing the "yeah, wait until the numbers are revised down!" song and dance. They cannot handle that regardless, it's been net job gains (vs. TFG's yuuge net losses, even before COVID). Effing crybaby losers.
There's no legitimate reason for the Federal Reserve to reduce interest rates. Obviously these rates work very well. Which should come as no surprise to anyone. Current interest rates are at historical norms to a little below historical norms. Inflation is at normal levels too. Interest rates have to be slightly above the rate of inflation for the Finance sector to profit. Wages have to rise slightly more than overall inflation, or general purchasing power declines and that weakens the economy.
In other words, in the history of running a bullshit economy based on sleight-of-hand, this is the level of interest rates and inflation that work the best.
The only reason there is pressure to lower rates is so Finance fraud resumes its position as America's largest and fastest-growing growth industry.
I don't think it's worth torpedoing the economy and national security of the United States of America so Jamie Dimon can add another zero to his net worth.
Raising taxes on the rich would have the same macroeconomic effect as high interest rates, but for some reason that's never considered for inflation fighting purposes.
"Dok’s kicking himself for forgetting to buy a bunch of groceries yesterday at the supermarket that gives you 10% off on the first Thursday of the month if you’re over 55."
Dok - Go ahead and shop today and say at check-out that you're over 55 and that you think that it's Thursday. It's senior fraud, not welfare fraud. Big difference.
OHJB’s little wizards need to learn to talk like real people if they want anyone to respond to good news. Not “wage growth outpacing inflation for 12 months in a row,” but something like “over the last year paychecks have gone up faster than prices, which means more money in your pocket after every shopping trip.”
I’m sure it can be phrased better, but I’m not a professional spox.
The problem is that it doesn't jibe with people's experience. The weekly grocery run that cost a hundred bucks four years ago is still $125, as it has been for the last couple of years, and a combo meal at McDonalds is still almost 11 bucks, when it was about $8.50 before. That's what people are thinking, and explaining to them that the prices have gone up because the food companies just decided to gouge their customers even more doesn't resonate with people. It just has to be Biden's fault - that's what the media across the board are telling them.
Where do you live? Here, my groceries are over $150 for the week, and I'm only shopping for myself. My last fast food meal was $15, at Taco Bell. Gas is down to $4.75 though!
"the supermarket that gives you 10% off on the first Thursday of the month if you’re over 55"
`
Surprise twist: Nobody my age knows whether it's the first Thursday of the month, some other random Thursday, some random Wednesday, or some random day in 1997.
Three different people online, and I don't read or listen to that many, have mentioned Freedom Rock in like the last 3 days. I'm freakin' out, man.
Ta, Dok. We always appreciate Nice Times, and thanks for keeping the kitties.
NYT: Biden's out of control job numbers will stoke inflation and worsen the migrant invasion crisis, driving even more voters to Trump.
NYT Headline. "Biden Economy trends continue to pose threat of inflation."
I'm surprised there hasn't been more news about the hot mess that is the legal woes of the real estate market. I've been watching the RealPage class action lawsuit ever since I heard about it, and now there's news that the FBI raided the offices of one of the real estate corps in Atlanta.
"The rent is too damn high!" is a meme but it's also the truth. As one of the few of my Xennial cohort with no mortgage (thanks to Mr. Anzu going full Mr. Money Mustasche on it years ago and paying it off 20 years early) I am always horrified to hear how bad my peers have it out there. $2000 for a 1 bedroom loft a mile from the nearest bus stop.
...and the right wingnuts are doing the "yeah, wait until the numbers are revised down!" song and dance. They cannot handle that regardless, it's been net job gains (vs. TFG's yuuge net losses, even before COVID). Effing crybaby losers.
There's no legitimate reason for the Federal Reserve to reduce interest rates. Obviously these rates work very well. Which should come as no surprise to anyone. Current interest rates are at historical norms to a little below historical norms. Inflation is at normal levels too. Interest rates have to be slightly above the rate of inflation for the Finance sector to profit. Wages have to rise slightly more than overall inflation, or general purchasing power declines and that weakens the economy.
In other words, in the history of running a bullshit economy based on sleight-of-hand, this is the level of interest rates and inflation that work the best.
The only reason there is pressure to lower rates is so Finance fraud resumes its position as America's largest and fastest-growing growth industry.
I don't think it's worth torpedoing the economy and national security of the United States of America so Jamie Dimon can add another zero to his net worth.
Raising taxes on the rich would have the same macroeconomic effect as high interest rates, but for some reason that's never considered for inflation fighting purposes.
Good Idea
The only economic news our evil Sinclair owned noted was that New Unemployment Benefits rose...
They implied this meant Bad Joe Biden because he does all the hiring and firing you know between drooly-drools.
"Dok’s kicking himself for forgetting to buy a bunch of groceries yesterday at the supermarket that gives you 10% off on the first Thursday of the month if you’re over 55."
I did that too! So frustrating!!!!
It appears the stock market is FINALLY starting to realize a good economy is actually good for the economy, interest rates be damned.
I don't know, I still see 70% declining and 30% climbing.
Better than last time, also, overall up.
All down from where I’m sitting. (Only a little, but not up)
Mine is up up up. All year.
Awesome! Glad for you.
Dok - Go ahead and shop today and say at check-out that you're over 55 and that you think that it's Thursday. It's senior fraud, not welfare fraud. Big difference.
OHJB’s little wizards need to learn to talk like real people if they want anyone to respond to good news. Not “wage growth outpacing inflation for 12 months in a row,” but something like “over the last year paychecks have gone up faster than prices, which means more money in your pocket after every shopping trip.”
I’m sure it can be phrased better, but I’m not a professional spox.
The problem is that it doesn't jibe with people's experience. The weekly grocery run that cost a hundred bucks four years ago is still $125, as it has been for the last couple of years, and a combo meal at McDonalds is still almost 11 bucks, when it was about $8.50 before. That's what people are thinking, and explaining to them that the prices have gone up because the food companies just decided to gouge their customers even more doesn't resonate with people. It just has to be Biden's fault - that's what the media across the board are telling them.
Where do you live? Here, my groceries are over $150 for the week, and I'm only shopping for myself. My last fast food meal was $15, at Taco Bell. Gas is down to $4.75 though!
Economists don't speak too good.
if only
Can't decide between a bow tie or the other kind? Why not split the difference?
"the supermarket that gives you 10% off on the first Thursday of the month if you’re over 55"
`
Surprise twist: Nobody my age knows whether it's the first Thursday of the month, some other random Thursday, some random Wednesday, or some random day in 1997.
I'm pretty sure it's still Smarch of 2020.
This is what phone reminders are for...
Since unemployment is so good we need to lay off the entire stock trading industrial complex. I bet that would do wonders for the economy!