A Recession on the Way?

In other news…Seattle continues efforts to kill jobs.

Gas prices have dropped over a dollar since Thanksgiving. Inflation is just over 3.2% compared to 7.75% last year. Housing prices are still way up, but that's not going to happen in an economy that's shrinking. LINK

Still it was better under Trump, just saying….

Really?

• The economy lost 2.9 million jobs. The unemployment rate increased by 1.6 percentage points to 6.3%.
• Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.7% after inflation.
• After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.
• The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016.
• The number of people lacking health insurance rose by 3 million.
• The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.
• Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
• Illegal immigration increased. Apprehensions at the Southwest border rose 14.7% last year compared with 2016.
• Coal production declined 26.5%, and coal-mining jobs dropped by 16.7%. Carbon emissions from energy consumption dropped 11.5%.
• Handgun production rose 12.5% last year compared with 2016, setting a new record.
• The murder rate last year rose to the highest level since 1997.
• Trump filled one-third of the Supreme Court, nearly 30% of the appellate court seats and a quarter of District Court seats.

Compare and contrast. I report: you can decide.

But you're not a Trumper.

Where the fuck did that @T'Bonz shit go. I have seen this before a thousand times.

If we could harness the power of Federal Fetus' idiocy we could power the US for about a thousand years and then some.

What disturbs me most about the way politicians hoped and wished for a recession and the media acquiesced to it. I'll admit that at a point, it was kind of touch and go there and the LAST thing we needed was elected leaders preaching doom and gloom and no one called them out on it. so it looks like we are going to have a "soft landing" from all the turmoil of how Trump and the rest of the world leaders handled the pandemic in 2020-21. We literally threaded a needle. No one is going to frame it like that and no one is going to call out the GOP for cheering and egging on the economic collapse they wanted.

https://x.com/zachrunsthings/status/1737122817190027746?s=46


Please check this out.

Normally I would not click on a twitter link, but it seems when the person posting the link is a trustworthy sort of fellow I can click with confidence.

That was quite good.

If there were feminine hygiene ads for reading Twitter.

That confidence lasts all day! Well, for a few minutes. OK, until you read the first few comments.

What is Trump's policy though? Does anyone know? Has anyone asked him? We're so focused on what Biden did and how Trump is on trial. Would Trump have slowed inflation? Or cut interest rates and cut business taxes to “create jobs”? Because if you’re looking for a recession there you go.

I hear people trash the Fed and Jay Powell on a daily basis. But to see them engineer this soft landing is catching the “drive by media”* by surprise.

*Credit to Rush Limbaugh for the phrase. Still glad he’s gone.

It will definitely be studied for a long long time.

I’ve got a half written ‘End of Volckerism’ thread.

Soft landing isn’t very accurate for what happened. It wasn’t that inflation went down without unemployment rising so high as to cause a recession so much as inflation went down while unemployment decreased and the economic expansion accelerated.

That just shouldn’t be possible under a traditional understanding.

Agreed.

You just support everything he stands for…

Nope.

. Self awareness is not one of your strengths.

Gotta love all these conservatives who express reservations about Trump and insist they don't like him...but have no problem pulling the lever for him on Election Day.

That's just weird...

You literally ignore reality in your post here though

What is it that you think I'm ignoring?

His reality is whatever Fox News, Donald Trump, and the rotted corpse of Stonewall Jackson tell him. Left bad. Right good.

Gas prices and inflation are down and high interest rates have slowed the housing sector. This is undisputable

Gas prices are down from five, six, seven dollars a gallon, but they are still high. If my blood pressure is down from 140 to 130, my doctor is still going to tell me I have high blood pressure. Same with inflation. The high interest rates are just one factor in the cost of housing, it looks to me like Wall Street learned little to nothing from the housing crisis other than how to better hide their gambling problem. There are signs that we’re about to enter another crisis.

Yeah, it's called the second Trump administration.

List the states that had average gas prices over six dollars.

I’ll wait.

Do you actually think gas is going to go down to like $1.50?

Why not, it did under Trump.

Gas hasn't been $1.50 since 2004

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m