The Biden Boom™ Is Coming Baby...

[6gorillion]

As the 2024 November election draws closer, a new Harris poll shows that a majority of Americans have a negative view of the U.S. economy.

Three in five Americans believe the U.S. economy is currently in recession — with the majority blaming President Joe Biden’s White House, according to a new Harris poll.

[frankdtank20]

https://www.morningstar.com/news/mar...d-minutes-show

"Federal Reserve officials indicated a willingness to raise interest rates again if inflation didn't cool off further, according to minutes of the April May meeting released Wednesday.

"Various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate," the minutes said.

The Fed released a summary of their April 30-May 1 closed-door discussion three weeks after the meeting."


Still in search of a soft landing with inflation. Adding half a point onto current rates would bring down inflation but it would also put big things like construction projects on the back burner, so it's a mixed bag of good and bad. We'll have to wait and see if they go for it.

[JayJ350]

As the 2024 November election draws closer, a new Harris poll shows that a majority of Americans have a negative view of the U.S. economy.

Three in five Americans believe the U.S. economy is currently in recession — with the majority blaming President Joe Biden’s White House, according to a new Harris poll.

People know how much money they have and how much they spend, it's the one thing no amount of propaganda can change.

[SaltyDog920]

People know how much money they have and how much they spend, it's the one thing no amount of propaganda can change.

Disagree. Lefties are so moronic that when anything drops in price mildly, they thank Uncle Joe despite those items still being up 100+% from when dRummpphh was in office.

[Dave22reborn]

Premium is back to $5.99 in Chicago.

[Brozef]

Premium is back to $5.99 in Chicago.

Thanks Joe!

[Dave22reborn]

Thanks Joe!

It'll probably be even higher in a week or two. Damn it Russia!!!!

[turk75]

Premium is back to $5.99 in Chicago.

Even here in bum fk rural Ohio it's $3.76 for unleaded...


Damn those evil white supremacist maga gas prices!

[JayJ350]

Quite a day on the stock market.

[freeheeler]

Boom

Boom


Boom

Boom

Boom. Boom


Boom

https://www.instagram.com/reel/C6K2n...Q1ZGUxMzBkMA==

[6gorillion]

Summer vacations, a big-ticket purchase for most Americans, will be even costlier this year despite airfares, rental car costs and other travel-related expenses dropping. The reason? Elevated prices on things like checked bags, restaurants and recreational experiences.

While hotel prices are down 4%, airfares down 6% and rental car costs have dipped 10%, according to a NerdWallet survey, vacationing this summer will cost 15% more than it did before the pandemic. That's because airline extras like seat selection fees, as well as dining out and entertainment costs, are making a bigger dent on Americans' wallets.

"Inflation is no joke. Americans are feeling the impact," said CBS News senior transportation correspondent Kris Van Cleave. "What they're going to find when that bill comes, it's going to look a lot like it did last year, but there are some real pain points," he added.

One of those pain points is airline baggage fees. "That could be $5 and then multiply that times two for your roundtrip, multiply that by four for your family of four, and you're seeing that the cost of travel does feel like it's going up even if individual prices are going down," Sally French, who tracks vacation inflation for NerdWallet, told CBS News.

Vacation activity costs, such as visiting amusement parks or other sites, have risen 3.4% since 2019, according to NerdWallet.

[freeheeler]

Biden is going to crush it, literally.

How Biden's Capital Gains Tax hike will 'crush' the economy and what it means for your money

Capital gains tax is paid on investments that have increased in value in the time between them being bought and sold - for example, stocks, properties or cryptocurrencies.

Under the Biden proposal, eleven states would end up paying over 50 percent in capital gains levies when combined with state taxes. High tax states such as New York, California and Hawaii will be harder hit.

Ted Jenkin, CEO of oXYGen Financial, warned that the planned increases will go into effect at the same time critical tax cuts brought in by Trump will also expire. Jenkin explained those two factors would 'crush' the economy as Americans race to sell up their assets in advance.

[Dave22reborn]

Biden is going to crush it, literally.

So if your investments actually pay out, you'll be punished? Makes sense.....

[Brozef]

[frankdtank20]

Dow is down to 38,400 from 40,000 a dozen days ago. Is IT happening?




j/k. Even though industrial output is lower than it was a decade ago I don't see anything major happening until after summer.

[fitnessislife]

Surely the guy who supposedly won eleventy bazillion votes could easily pack a room the size of a high school gymnasium, right?



Most votes in history, though! Lol.

[JayJ350]

Terrible day on the market today. YOU DID IT JOE!

[Brozef]

Where are all the Biden slurps? They don't want to defend their guy?

[Procta]

Jen Psaki: Biden camp has to move from “accomplishments” & make it all about Trump (because there are no accomplishments)

https://x.com/tomselliott/status/1796190428963721399

[fitnessislife]

Oh NO! Our RIGHTZZZ!!!!

(What rights did they lose the first time?)

[6gorillion]

Oh NO! Our RIGHTZZZ!!!!

(What rights did they lose the first time?)

lol the party that forces clot shots, wouldn't let up lockdowns is concerned about "rights"

[Dave22reborn]

Oh NO! Our RIGHTZZZ!!!!

(What rights did they lose the first time?)

Hurr Durr, conservatives are all about fear mongering.....

[fitnessislife]

Hurr Durr, conservatives are all about fear mongering.....

Literally the end of democracy if people are allowed to vote against Biden!

[Procta]

https://dailyhodl.com/2024/06/02/517...of-insolvency/

[TastyTheTreat]

Literally the end of democracy if people are allowed to vote against Biden!

Giving the public a choice is a threat to our democracy!

[6gorillion]

Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve with more impetus to start lowering interest rates.

The Labor Department’s Job Openings and Labor Turnover Survey released Tuesday showed that the level of employment vacancies slipped to 8.06 million for the month, down by nearly 300,000 from March and close to 19% lower than a year ago.

Moreover, the total marked the lowest since February 2021. The ratio of job openings to available workers edged down from 1.2 to 1, after being around 2 to 1 when openings peaked above 12 million in March 2022. The ratio has returned to about where it was before the Covid pandemic.

Fed officials watch the JOLTS report closely for signs of labor market slack as they look for direction on monetary policy. Policymakers have held benchmark interest rates at 23-year highs as they wait for more convincing evidence that inflation is progressing back to the central bank’s 2% goal. Market pricing is pointing toward an initial rate cut coming in September.

By industry, information technology saw the biggest percentage drop in openings, down 1.3% for the month. Two industries that had been big job gainers, health care and leisure and hospitality, saw notable drops in openings, down 0.8% and 0.6%, respectively.

[Procta]

big ba-da-boom

[nutsy54]

Once again, the only Boom is in the wrong direction. Biden just hit his WORST Approval/Disapproval ratings for this administration:


https://projects.fivethirtyeight.com...oval/joe-biden

[6gorillion]

The number of Americans filing for unemployment benefits last week unexpectedly jumped to the highest level in 10 months, the latest sign that the labor market is starting to cool in the face of high interest rates.

Figures released Thursday by the Labor Department show initial claims for the week ending June 8 increased by 13,000 to 242,000, above the 2019 pre-pandemic average of 218,000 claims. It marks the highest level for jobless claims since August 2023.

Continuing claims, filed by Americans who are consecutively receiving unemployment benefits, also rose to 1.82 million for the week ended June 1, an increase of 30,000 from the previous week.

[NYPat]

The number of Americans filing for unemployment benefits last week unexpectedly jumped to the highest level in 10 months, the latest sign that the labor market is starting to cool in the face of high interest rates.

Figures released Thursday by the Labor Department show initial claims for the week ending June 8 increased by 13,000 to 242,000, above the 2019 pre-pandemic average of 218,000 claims. It marks the highest level for jobless claims since August 2023.

Continuing claims, filed by Americans who are consecutively receiving unemployment benefits, also rose to 1.82 million for the week ended June 1, an increase of 30,000 from the previous week.

The unemployment rate FIANLLY hit 4% for the first time in 27 months... not seen since the 1960s. This is AFTER THE FED kept raising rates until unemployment went up....

Literally nothing to see here other than a BOOMING economy and a SOFT LANDING avoiding a recession thanks to Based Biden!