permafrost Loc: Minnesota

The year kicked off with bang for the economy, registering a gain of double what was expected

https://www.cnn.com/business/live-news/jobs-report-january-02-02-24/index.html

LIVE UPDATES
Another shockingly good jobs report shows America's economy is booming
From CNN's Alicia Wallace, Elisabeth Buchwald, Bryan Mena and Nicole Goodkind

Updated 9:27 a.m. ET, February 2, 2024

What we're covering here
The January jobs report showed that the US economy added a stunning 353,000 jobs last month, confounding market expectations Friday morning and pushing up Treasury yields.
The unemployment rate stayed at 3.7%.
A new CNN poll shows the public’s long-held pessimism about the economy is easing — but a majority of Americans still think the US economy is in trouble.

slatten49 Loc: Lake Whitney, Texas

Good posting, Frosty

Sadly, it will fail to register with many blinded eyes and deaf ears.

Have a great day, Marine

Sonny Magoo Loc: Where pot pie is boiled in a kettle

Figures lie.
Liars figure.
The grocery bill says, "you're full of malarkey".
The restaurant bill says, "WTF"
Child care credits and lower taxes? Huh?
The military in shabby shape, can't make quotas.
Ukraine, Israel, Iran and the Houthies : Out of control.
Drugs and slaves pouring into the country.
Yeah Demoncraps, things are freaking wonderful.

permafrost Loc: Minnesota

Liberty Tree

Losing as many as you say you gain is not progress.

Lily

THURSDAY, FEB 01, 2024 - 08:36 AM


The number of Americans filing for jobless claims for the first time in the last week was 224k (12k above expectations and 9k above the prior week). That is the highest since November...

Rose42

The title made me laugh. And you guys say trump supporters are bad.

Administrations always use propaganda to paint a rosier picture of what is going on. Propaganda works. They keep hammering away and people start to believe it.

Crazy times. No matter what a president does the opposing party can find info to disparage it.

XXX Loc: Somewhere north of the Mason-Dixon

In far north Minnesota there is a Lala land!

Radiance3

================
Your deceptive presentation perma, the product of ignorance about how economy works. The $34, 184 trillion National Debt is rapidly climbing as it accrues the biggest cost daily due to interest added to it.

Net interest costs soared to $659 billion in fiscal year 2023, which ended September 30, according to the Treasury Department. That's up $184 billion, or 39%, from the previous year and is nearly double what it was in fiscal year 2020.Nov 16, 2023

In addition, the consumers debt on their CC ended up more than $1 trillion as of Dec. 2023. This amount could never be paid off by most of the debtors due to the interest rate of 13% to 29% added to their debts monthly.

People are now renting a 300 sq.ft studio apartment. Nobody could afford to buy homes.

Joe Biden has violated the Accounting principles, by taxing claims for Long Term Care Insurance.

That is double taxation. That premiums paid to the insurance; taxes had already been paid. When the insured claims reimbursement for the care during the old age and disability, the IRS requires taxes to be paid again. This only happened in the Biden administration.

A screwed-up system all in violations of GAAP and IRS provision. Biden wants to collect and bankrupt all people who've worked and earned. Then feed his 12 million illegal invaders. In 2021, it costs more than $155 billion annually, when illegal entries were fewer. Now more than 10 million had come in, it cost taxpayers $175 billion annually, paid by Biden with our taxes to maintain and keep them.

These illegals are beating our police officers, and yet set free by the people of Joe Biden. But the innocent J6th demonstrating their 1st Amendment rights were locked up to 10 years or more in severe conditions. Yet that J6th was a hoax planned by the Pelosi team along with the FBIs and the Police Officers of the Capitol building. Facts are surfacing now. For nothing is hidden that could not be revealed.

You don't care about the highest violence we now have in this history. We the innocent taxpayers are the victims. I am now afraid driving in the evening. So many cars being hijacked, owners are beaten by the thugs.

You don't care about stores getting bankrupt because of the constant lootings. Looters are mostly dark; do you deny that?

You don't care about this because you don't pay taxes or pay very little tax. But those who earn and pay so much taxes are the victims being punished for the fruits of their wisdom and hard work.

Bevvy

It’s time for the Biden Administration to stop these senseless decisions that push in one direction and pull in the other.

1ProudAmerican

Minnesota wants to become a sanctuary STATE (even tho it already is) LEGALLY

padremike Loc: Phenix City, Al

It's time for a more honest slogan. Consider - "It's more than the economy stupid."

slatten49 Loc: Lake Whitney, Texas

No doubts about that, Rose

slatten49 Loc: Lake Whitney, Texas

Taken from Quora

From 'JT'...with a B.S. in Business & Economics, University of Tampa

Do you believe President Biden when he says inflation is coming down and that the cost of eggs, milk, chicken, and gas have come down?

The question shows a lack of understanding of inflation. Inflation is a constant. Every economy in the world has it or it’s very ugly cousin, deflation.

Yes, it is correct that inflation is coming down. That means that the RATE of price increases is slowing. It does not mean that prices are coming down. You don’t want prices to come down across the board because that would be Deflation and that is a very very bad thing. It would meant that your economy is failing.

Inflation happens when there is too much money chasing too few goods - time to reign in the access to easy borrowing and to ramp up production. Good economies always have a tad of inflation, around a 2.5% range is good. Prices are ALWAYS going to increase, we just don’t want them to increase too fast.

Deflation (all prices going down) means that no one wants to or has the money to buy things and sellers are desperate to get the little money there is. Businesses go belly-up, salaries stagnate, jobs are hard to come by. Not a good economy. We DO NOT want prices to fall across the board.

So, bottom line: Yes Biden is right, inflation is returning to more normal levels! No, the cost of eggs, chicken, and gas have not come down, and you don’t want them to, really you don’t. You want them to stabilize and only increase a little bit with salaries increasing by about the same amount.

That’s economics 101

pegw

The only reason Biden has poor ratings is because of inflation, which is now bearable but not the best it can be. I just paid $2.99 for gas. There are help wanted signs on nearly every store I go to. If we stop immigration, just who is going to fill low level jobs? the MAGA folks?