Kolek planning to go pro
TAMUI do know, Newsie is right on you knowing ball.
We have problems. I don't see much evidence this is going to stabilize any time soon. Unless I'm missing something? Would you put some coin in t-bonds for a few years?
It is transitory but yes it will be rough for a while. Economy fades and economy surges, just like it always has.
I think the issue is the way "transitory" was positioned or used. Some, not all, tried to brush aside inflationary concerns as something that would pass in weeks or a few months. Whether it was for political reasons, to bide time to find a solution, or just cause the full extent wasn't known, that doesn't really matter. I don't think its the end of the world, and agree that economies, even the strongest economies, ebb and flow, but honesty and living in reality is important.Inflation or economic stumbles can never be placed at the foot of one party or politician or policy. But in this partisan era, there seems to be a need to immediately blame or scapegoat something, thus this discussion. That being said, there are a disturbing number of people lacking even the most remedial economic education that don't seem to understand what causes inflation, what can make it worse, and what can be done to solve it, and that is obnoxious.IBTL
Inflation or economic stumbles can never be placed at the foot of one party or politician or policy. But in this partisan era, there seems to be a need to immediately blame or scapegoat something, thus this discussion. That being said, there are a disturbing number of people lacking even the most remedial economic education that don't seem to understand what causes inflation, what can make it worse, and what can be done to solve it, and that is obnoxious.IBTL
Full employment pushing up wages. Continued supply chain issues in China as well as a record breaking heat wave.Corporate profits way up.Chip shortage. Grocery prices upFuel prices down.If the railroads strike, expect a huge spike.
Lenny,There is full employment at the moment, but I believe there will be a nice number of smart people that will be looking for work in upcoming months. Employment numbers are great to watch, but I look watching how smart companies handle their workforce. In my book, the big tech guys and big finance guys are the ones to watch. Big tech is announcing job cuts, marketing cuts and other cost cutting measures and they know what they are doing. I think a year from now the employment situation is going to look a lot different than it does today. Tech and finance guys are proactive and when they make moves, I definitely take note of it.
We’ve had “full employment” for quite some time. More deceiving now than ever because a record number have left the work force.The stock market is down this year and struggling. That tells me that profits will be turning down big time due to government policies that are forcing fed policy.
I assume there will be layoffs. Who wants to pay all of those high salaries? Along with the shakeout of working from home v. working from the office.
Who wants to work 95 hours a week? I guess you make big money while your young, retire at 40 and start living a life; but.
Transitory as in only death is permanent. By that measure every recession or depression is transitory. That’s not what Biden meant by transitory, though, and I think you know that. Several economists who worked for Obama certainly did.
I’m pulling for an economic downturn to stick it to the libs
Inflation always takes awhile to be brought to heel. Before this becomes a political discussion, I'll offer this ...Maybe the best investment out there is the Series I Savings Bond. "I Bonds" are indexed to inflation, and right now their annual rate is 9.62%. It's incredible to get almost 10% interest on anything, let alone something that is 100% safe.https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htmFine print:++ Each individual can only buy $10K worth per year. A couple can buy $20K. They also can buy $10K worth for each kid, although the money technically would belong to the kid.++ Each I Bond must be held for at least a year. If cashed in after 1 year but before 5 years, the penalty is the last 3 months' interest -- but even cashed in after a year it currently would produce an effective rate of 7%+. From 5 years on, there is no penalty.++ Rates can and usually do change every 6 months, in May and November. We don't know what the next rate will be yet ... but if it's lower it won't be by much. So it's not a place where one can park hundreds of thousands of dollars, but anybody with $10K ($20K for couples) sitting around in checking accounts and who doesn't need the $$$ for at least a year ... it's a complete no-brainer to max out the annual I Bond account.
Congrats, you already have your downturn (back to back quarters of negative growth). Unfortunately, the libs aren’t the only one getting stuck - by their fellow libs. Everyone is being stuck.
I had a meeting with my Financial Adviser last week.Ameriprise is still bullish on the stock market. He said September is always the worst month every year for the stock market. Based on stock market history and statistical performance 2022 year to date they expect a rebound in 4Q and all of 2023 as all those major disruptions get further in the rearview mirror.I read something this week that the US housing market is short 2 million housing units. One of the reasons home prices are not expected to drop much at all.