What does Joe Rogan have to say?granted, i haven’t read ben shapiro’s take on it, but the economy seems to be quite resilient and doing well
Weekly Initial Unemployment Claims Decrease to 221,000
The DOL reported : In the week ending July 22, the advance figure for seasonally adjusted initial claims was 221,000 , a decrease of 7,000...www.calculatedriskblog.com
Dark Brandon’s Policies Pt V
- Thread starter 92tide
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This is a huge debt relief, and huge for the economy. Those Americans dragged down by student debt sometimes have no way to EVER pay off their loans. And, when you remove this loan burden, then the economic benefit is huge around these people when they have extra money to use.
Biden administration announces $39 billion in student debt relief for 804,000 borrowers
The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Biden’s student loan forgiveness plan was…thehill.com
I cannot imagine paying off student loans for 20 years, but it clearly happens to many people.
Imagine a mortgage at usurious rates that cannot be forgiven.
Minneapolis
CNN
—
The inflation gauge tracked most closely by the Federal Reserve showed that the pace of price increases slowed last month, according to Commerce Department data released Friday.
The Personal Consumption Expenditures price index rose 3% for the 12 months ended in June, a cooldown from the 3.8% rate posted in May.
When stripping out energy and food prices, the core PCE index showed prices increased 4.1% in June from the year before. Economists were expecting the core index to increase 4.2% on an annual basis. In May, the core PCE rose 4.6% annually.
The Biden administration is launching a beta website for its new income-driven student loan repayment plan today, officials told CNN, allowing borrowers to begin submitting applications for the program as federal student loan payments are set to resume in October.
The SAVE, or Saving on a Valuable Education, plan was finalized after the Supreme Court struck down President Joe Biden’s student debt forgiveness initiative in June. It marks a significant change to the federal student loan system that could lower monthly loan payments for some borrowers and reduce the amount they pay back over the lifetime of their loans.
“Part of the president’s overall commitment is to improve the student loan system and reduce the burden of student loan debt on American families,” a senior administration official said, previewing the beta website first to CNN. “The SAVE plan is a big part of that. It is important in this moment as borrowers are getting ready to return to repayment.”
the malaise continues apace
www.prnewswire.com
"The economy is doing better than expected and a healthy labor market continues to support household spending," said Nela Richardson, chief economist, ADP. "We continue to see a slowdown in pay growth without broad-based job loss."
ADP National Employment Report: Private Sector Employment Increased by 324,000 Jobs in July; Annual Pay was Up 6.2%
/PRNewswire/ -- Private sector employment increased by 324,000 jobs in July and annual pay was up 6.2 percent year-over-year, according to the July ADP®...
www.prnewswire.com
"The economy is doing better than expected and a healthy labor market continues to support household spending," said Nela Richardson, chief economist, ADP. "We continue to see a slowdown in pay growth without broad-based job loss."
Fox News is freaking out about Biden’s newest video where he sips from a Dark Brandon mug: “That’s actually a really dark joke at the expense of the American public! Brandon is not a compliment!”
I frankly don't understand it. It's almost like people don't want to believe the numbers...the malaise continues apace
ADP National Employment Report: Private Sector Employment Increased by 324,000 Jobs in July; Annual Pay was Up 6.2%
/PRNewswire/ -- Private sector employment increased by 324,000 jobs in July and annual pay was up 6.2 percent year-over-year, according to the July ADP®...
"The economy is doing better than expected and a healthy labor market continues to support household spending," said Nela Richardson, chief economist, ADP. "We continue to see a slowdown in pay growth without broad-based job loss."
The White House has announced they are putting Biden’s name on hundreds of thousands of infrastructure project signs after Republicans started taking credit for projects they voted against. “PROJECT FUNDED BY PRESIDENT BIDEN’S INFRASTRUCTURE LAW.”
I can understand it. Have some things improved in the last few months? Yes, they have, but people are comparing things to the pre-inflation, and even pre-Covid economies. When you make that comparison it's not favorable. Gas prices are climbing right now in many parts of the country. I watched gas go up 80 cents a gallon in about two weeks where I am. Housing is ridiculous in most parts of the country. Young couples and young single people are struggling to get into the housing market. I have several friends that have kids in their mid 20's getting married and can't afford anything, including rent. They are living with family instead.
I agree inflation is slowing year over year, but it was worse last year and we've only added another 3% to what was already bad in 2022. People are looking at a longer horizon as they evaluate the economy. They aren't comparing this month to the last but the last several years to the current climate, and that isn't favorable.
Much of this isn't on Biden. He didn't cause a housing shortage. He didn't tell California, New York, and Illinois to run people out of their states. He was in Congress and the executive branch while we continued to dig a fiscal hole deeper than any in history, and outside of ending Covid spending that was going to go away anyway as Covid became endemic he hasn't slowed down the spending to satisfy the ratings agencies as the downgrade in credit ratings show. I know some say the rating shouldn't have been downgraded, but to be honest it's hard to argue with the reasoning. You can argue the rating downgrade was early, but it was inevitable. He should have been firmer with some of his statements on Ukraine. I'm not sure it would have made any difference, but saying depending on how big the invasion was we may not do anything was a bad move. Guys like Putin will go crazy if they sense any weakness. History has taught us that. Here is an article dealing with that. I know he walked it back, but it's tough to make words disappear when you say them into a camera.
That's the point. There is no objective truth. You will believe what we tell you.
and it is surprisingly effective for their supporters and their totally not supporters, but... that love to pretend that everyone is being brainwashed by the woke media except for them
Every family I know is worried about rising costs (and I live in an affluent area). We have high-income earners who had variable rates on their mortgages see their housing costs increase by some 50% over the last year or so and groceries are crazy expensive if you have multiple kids.
The numbers are the numbers but people are seeing their money go faster and faster.
Pretty much always the case, isn't it?
Poorer economically and poorer health-wise...
Play stupid games.....
Why the hell would anyone take out a variable rate mortgage when rates were literally at all times lows? It doesn't take a rocket surgeon to forecast which direction rates will move when they move. Unless.....
They took out a HELOC that stretched them too thin, but again record low rates and only one way an adjustable rate is going to move.
I agree to a point, but the rate increases weren't really on the horizon just fa few years ago - pre-pandemic the talk was largely about deflating the dollar over time to retain its value. Once the fedgov dumped roughly like 9 trillion more dollars into circulation during the pandemic everyone's goose was cooked.
Keep in mind I'm not one of those people - we're on schedule to pay off our last remaining debt this year (house) despite my entire industry getting absolutely rocked by the shutdown mandates. We're quite financially conservative, but there are lots of folks out there wondering how they're gonna make it, even buying groceries is tough for some.
Anyone who lives on a budget has seen the massive increases in CoL. News coverage is part of it, sure, but budgets don't lie.
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