THE US ECONOMY GREW 3.3%

[Tribal Outkast]

fukking steak prices went up

 

[Sir Richard Spirit]

You don't have to respond to any of them. I am satisfied knowing that I post articles trying to advise people of an unfolding financial disaster.

Only thing I think is you should stay out of debt.

 

[Samori Toure]

Most of the "spending" is

1. People being price gouged. But it's essential shyt so they have no choice but to buy it.
2. Rich people and anyone making over 100k buying shyt with credit cards.


Nobody looks at credit card debt. Rich people consistently borrow on their assets. So that "growth" don't mean shyt when household debt is at an all time high. over $18 trillion.

Correct. Spending increased because prices increased. It is due to the tariffs. If a box of cheerios was $5 before the tariffs and it is now $8 after the tariffs then spending increased. That is Trumponomics.

 

[bright black]

I just saw a video with a dude saying essentials (utilities, housing, gas, food, healthcare) are at 9%.

 

[Samori Toure]

I just saw a video with a dude saying essentials (utilities, housing, gas, food, healthcare) are at 9%.

Correct. Therefore spending increased, which according to Trump and Lutnick is a great thing.

 

[Admiral Ackbar]

GDP is astrology for capitalists.

Can't tell me anything when my department shares space with the unemployment office.

 

[Sir Richard Spirit]

Correct. Spending increased because prices increased. It is due to the tariffs. If a box of cheerios was $5 before the tariffs and it is now $8 after the tariffs then spending increased. That is Trumponomics

What interest rate did them Trumponomics get you for your home loan?

 

[AngryBaby]

Damn, suddenly after he fired everyone responsible for reporting the numbers, They are growing again.

[/thread]
Yep and morons like OP wont make the connection

 

[Samori Toure]

What interest rate did them Trumponomics get you for your home loan?

Trump didn't lower interst rates. Interest rates have been low since the Obama Presidency. They engaged in something call quantitative easing. I have no idea what that is, but it lowered interest rates on long term debts like mortgages. Trump inherited low interest rates.

The Fed and Fiscal Policy During the Obama Years

The federal government has run massive deficits since President Obama became president in 2009, but the deficits, and the government’s interest payments on the cumulative federal debt, would have been even greater if the Federal Reserve had not intervened with a massive and unprecedented bond...

www.aei.org

 

[Sir Richard Spirit]

Trump didn't loer interst rates. Interest rates have been low since the Obama Presidency.

The Fed and Fiscal Policy During the Obama Years

The federal government has run massive deficits since President Obama became president in 2009, but the deficits, and the government’s interest payments on the cumulative federal debt, would have been even greater if the Federal Reserve had not intervened with a massive and unprecedented bond...

www.aei.org

3%?

 

[Samori Toure]

3%?

You don't understand interst rates. 3% is my interest rate as a private borrower from a bank, which is based upon credit, income, etc. That is not the rate that the Federal Reserve loan money to commercial banks at. So even if the Federal Reserve does a rate cut that doesn't mean that your private rate as a mortgage borrower will go down, because your rate is tied to your credit history and income. Worse yet mortgage rates are also impacted by bond yields.

As for what you thought you were asking. Under Obama the lending rate that the Federal Reserve Bank loaned to commercial banks varied from 0.0% to 0.25%. That is why economists kept calling it cheap money.

https://www.cnn.com/2020/02/18/politics/trump-v-obama-economy-fact-check?cid=android_app

 

[Sir Richard Spirit]

You don't understand interst rates. 3% is my interest rate as a private borrower from a bank, which is based upon credit, income, etc. That is not the rate that the Federal Reserve loan money to commercial banks at. So even if the Federal Reserve does a rate cut that doesn't mean that your private rate as a mortgage borrower will go down, because your rate is tied to your credit history and income. Worse yet mortgage rates are also impacted by bond yields.

As for what you thought you were asking. Under Obama the lending rate that the Federal Reserve Bank loaned to commercial banks varied from 0.0% to 0.25%. That is why economists kept calling it cheap money.

https://www.cnn.com/2020/02/18/politics/trump-v-obama-economy-fact-check?cid=android_app

Again, that’s too much typing from you.


You and republicans have the same thing in common. Yall benefit from shyt but then tell the world they shouldn’t.

 

[Adeptus Astartes]

What should have you nervous is that delinquency rates have increased for prime and super prime borrowers. Those are people with credit scores between 700-850.

This! I would think this is due to these job cuts in tech and white collar services.

 

[Dallas' 4 Eva]

Blue collar brehs are eating right now. @Luck @cheek100 @Crude Abolitionist . Every job offering overtime and raises out the ass. I start a new job on the 15th that's paying $7 more an hour, higher 401k match, and my insurance is getting cut in half how much I pay. I make $17 more an hour now than I did 3 years ago, pay less for insurance, and get more contributions to my retirement. I feel for white collar brehs though, y'all going through it but that lil rush to get paid more and more during covid was eventually gonna turn around on y'all.

 

[Kiyoshi-Dono]

Bootstrap babble