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12-02-2022, 09:11 AM #31
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12-02-2022, 09:13 AM #32
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12-02-2022, 09:13 AM #33
- Join Date: Dec 2010
- Location: Georgia, United States
- Posts: 26,209
- Rep Power: 346950
I’ll give you a left perspective to understand it deeper.
This is a former Obama economic policy person - and Harvard Econ professor
He’s one of the lefties I posted above sensationalizing the negatives about this report.
Often also cited with king lefty Econ Krugman - who also thinks this is bad - see above
Now sometime Krugman and Furman disagree - and it’s fun to watch their arguments, but that’s another subject.
This is a lefty economic research group
https://www.piie.com/
Read this post in early November by Furman
https://www.piie.com/blogs/realtime-...mpen-inflation
Now this was before todays report- hence after reading it you can understand his freak out I posted in post # 7
Edit- originally quoted wrong person“A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.”
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12-02-2022, 09:15 AM #34
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12-02-2022, 09:20 AM #35
58% of young adults are still living at home, impacting their parents’ path to retirement
https://news.prudential.com/58-young...retirement.htm
Winning!!!!!
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12-02-2022, 09:37 AM #36
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12-02-2022, 09:41 AM #37
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12-02-2022, 09:42 AM #38
- Join Date: Jan 2009
- Location: California, United States
- Age: 40
- Posts: 11,232
- Rep Power: 83163
It's just more partisan nonsense. Apparently we can't discuss anything without it becoming a left vs right thing.
The reality is that any "better than expected" economic news means the Fed has to become more hawkish to drive inflation down. And they'll do that with more aggressive interest rate hikes. Which then leads to layoffs and a worsening economy.
Once you understand that the Fed beats inflation by beating down the economy, things make a lot more sense.
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12-02-2022, 09:50 AM #39
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12-02-2022, 10:01 AM #40
I'd be interested on you expanding on this. There has been significant debate about this topic.
It’s not a causal relationship, it’s a correlative one. So, just because wages are correlated with PCE means that we need to reduce wages to reduce PCE? Something seems off here.
I don't think it's as simple as some linear relationship between two non-discreet variables. Wages haven’t been following the natural curve (i.e. coupled to productivity) since 1979, so PCE is following what exactly? Some arbitrary increase in wages decided by corporations?Anti identity politics crew
Anti corporate welfare crew
Anti federal reserve crew
Anti central banking cartel crew
ETH millionaire crew
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12-02-2022, 10:28 AM #41
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12-02-2022, 11:04 AM #42
I'd have thought everyone knew this by now. Do people think the Feds are raising interest rates for schits and giggles? Interest rates going up doesn't just hurt the housing market, even though that gets all the headlines. But unfortunately the rising rates are necessary. The Fed created the problems with near 0% rates for over a decade, so they have to undue their protracted mistake.Light weight! Light weight baby!!!!
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12-02-2022, 11:09 AM #43
I'm an optimist for the future too. I know we'll have a recession in 2023, but it may end up being shorter than I was predicting a few months ago. You know that old expression "when the US sneezes the rest of the world catches a cold." It doesn't work the other way around, so I'm grateful to live in the US.
Light weight! Light weight baby!!!!
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12-02-2022, 11:16 AM #44
This again. What a smoke show. Low unemployment thanks to nobody looking for jobs as labor participation the lowest it's been in a long time. I'm sure a lot of people are getting holliday jobs so yeah it's going to jump. Wages jump, but not as high as inflation. It's like you can jump 3ft but the wall is 4ft high. You work on it and manage to be able to jump 4ft and you come to jump the fence and it's now 6ft high. Did you get closer to jumping the fence? Right now is a time where most companies are raising prices to match cost of living so half of that is moot at best.
I'm just playing the role of Captain Obvious stating the obvious. Of course it would be worst if unemployment spiked and wages fell, but that's really not the issue right now. We have some serious issues right now and this administration doesn't have a clue.
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12-02-2022, 11:53 AM #45
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12-02-2022, 01:10 PM #46
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12-02-2022, 02:19 PM #47
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12-02-2022, 02:41 PM #48
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12-02-2022, 02:49 PM #49
"Everyone has jobs"... yet Americans supposedly can't pay their own student loans?
"Close to keeping up with inflation"? Over the past 12 months, average hourly earnings have increased by 5.1% which was also above the 4.6% expected.
5.1% annual income increase, chasing 7.7% annual inflation... Close
https://www.bls.gov/news.release/cpi.nr0.htm
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12-02-2022, 02:50 PM #50
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12-02-2022, 02:51 PM #51
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12-02-2022, 02:53 PM #52
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12-02-2022, 02:53 PM #53
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12-02-2022, 02:55 PM #54
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