US Economy thread

[tower912]

Social workers and mental health workers  mental should be paid more.    Volunteering is good.    Economy is doing really well but those on the fringes are struggling.
What did I miss?


Argue away and lock it up.

[MU82]

Thanks for starting this, tower. I'll re-post my comment from earlier this afternoon in the Investing thread ...

+++

From a Washington Post article about the U.S. economy outperforming those of other developed countries:

The $28 trillion U.S. economy weathered multiple shocks over the past year and returned to the growth path it was on before the pandemic. The size of the economy, adjusted for inflation, regained its pre-pandemic peak in early 2021. Through the end of September, it was more than 7 percent larger than before the pandemic. That was more than twice Japan’s gain and far better than Germany’s anemic 0.3 percent increase, according to British Parliament data.

For most Americans, the growth paid off in the form of higher wages. Over the four years through September, the most recent comparison available, U.S. wages — after inflation — grew 2.8 percent.

https://www.washingtonpost.com/business/2024/01/28/global-economy-gdp-inflation/?utm_campaign=wp_post_most&utm_medium=email&utm_source=newsletter&wpisrc=nl_most

The U.S. economy isn't perfect, obviously, but it is healthy and growing by most available data. Good to see wages rising, even after inflation is factored in.

[Jay Bee]

Layoffs all over the place, growth of costs far outpacing wages, business closing

It’s a bit of a sh1t show, imo.

[Goose]

JayBee

There has been a slew of layoffs and likely more to come. While many believe corporate greed is a big part of the inflation we have seen, costs have gone up like crazy. IMO, there a lot of $100k jobs that may be lost in 2024.

[Jockey]

Layoffs all over the place, growth of costs far outpacing wages, business closing

It’s a bit of a sh1t show, imo.

You hit on the reason for historically low unemployment.    Way to think it through

[The Hippie Satan of Hyperbole]

JayBee

There has been a slew of layoffs and likely more to come. While many believe corporate greed is a big part of the inflation we have seen, costs have gone up like crazy. IMO, there a lot of $100k jobs that may be lost in 2024.

I guess if you keep predicting doom you might be right someday.

[Goose]

Sultan

I am hoping for nothing but positive things from the US economy. There is no prediction of doom. Not sure on why my expecting more layoffs is a prediction of doom.

My small company had struggled mightily the last year+ and that is on me. I did not plan accordingly for large clients cutting back or the affect that rising costs would have on a small company. Believe it or not, but big companies cutting costs has a serious affect on a big number of small companies.

That said, we had our best month, both in revenues and profit, in January in over 18 months. I’m hoping, praying for a robust economy because it benefits everyone.

[tower912]

I think JB has a point.  Businesses are closing. Conversely, I see a ridiculous amount of construction, including in manufacturing.   I see help wanted signs everywhere.   Some businesses are closing because they can't find enough employees to hire. 
   So, IMO, lots of different things, lots of signs pointing all over the place. Like I said to Goose ages ago, there are always headwinds.   Now is no different.   But there also huge opportunities.

[forgetful]

Sultan

I am hoping for nothing but positive things from the US economy. There is no prediction of doom. Not sure on why my expecting more layoffs is a prediction of doom.

My small company had struggled mightily the last year+ and that is on me. I did not plan accordingly for large clients cutting back or the affect that rising costs would have on a small company. Believe it or not, but big companies cutting costs has a serious affect on a big number of small companies.

That said, we had our best month, both in revenues and profit, in January in over 18 months. I’m hoping, praying for a robust economy because it benefits everyone.

Goose, sorry to hear that your small company has struggled and I respect your insight into these matters, which are far from my area of expertise.

It is without a doubt true, that the economy has been thriving, and significantly outperforming the rest of the world. By traditional metrics, we may never have had such a strong economy.

That said, I can't help but wonder though if you might be hitting on part of the problem. Small businesses are struggling and many of the average Americans are not feeling as strong as the overall economy. I wonder if that is because of how policies are designed. They are primarily designed to benefit those at the top, who then reap the benefits of policy decisions, while the rest just try to make due and survive.

Unless we start to focus on the factors affecting middle (medium) and bottom (small) of both the individual and business ladders I think we might continue to live in a fractured economic landscape, until the problems filter up.

Just some thoughts, that may be horrifically wrong.

[TSmith34, Inc.]

Layoffs all over the place

Nope

growth of costs far outpacing wages

Nope

It’s a bit of a sh1t show, imo.

And nope

[Skatastrophy]

Goose, sorry to hear that your small company has struggled and I respect your insight into these matters, which are far from my area of expertise.

It is without a doubt true, that the economy has been thriving, and significantly outperforming the rest of the world. By traditional metrics, we may never have had such a strong economy.

That said, I can't help but wonder though if you might be hitting on part of the problem. Small businesses are struggling and many of the average Americans are not feeling as strong as the overall economy. I wonder if that is because of how policies are designed. They are primarily designed to benefit those at the top, who then reap the benefits of policy decisions, while the rest just try to make due and survive.

Unless we start to focus on the factors affecting middle (medium) and bottom (small) of both the individual and business ladders I think we might continue to live in a fractured economic landscape, until the problems filter up.

Just some thoughts, that may be horrifically wrong.

I think it's certain sectors that are lagging, specifically US manufacturing. Small biz isn't suffering, at least none that I interact with.

Here's a look at a breakdown of shrink and then growth from 2020-2022 https://www.bls.gov/opub/mlr/2023/article/total-nonfarm-employment-recovers-in-2022-with-some-major-industry-sectors-lagging-behind.htm

[4everwarriors]

Social workers and mental health workers  mental should be paid more.    Volunteering is good.    Economy is doing really well but those on the fringes are struggling.
What did I miss?


Argue away and lock it up.

Inflation is a run-a-way freight train, labor market sucks since no one wants to work, and fuel prices have been wonderfully raised to push the pawns to buy into the BOTUS' Green Energy Plan. Election day can't come quick enough, aina?

[jesmu84]

Inflation is a run-a-way freight train, labor market sucks since no one wants to work, and fuel prices have been wonderfully raised to push the pawns to buy into the BOTUS' Green Energy Plan. Election day can't come quick enough, aina?

🤡

[Uncle Rico]

Inflation is a run-a-way freight train, labor market sucks since no one wants to work, and fuel prices have been wonderfully raised to push the pawns to buy into the BOTUS' Green Energy Plan. Election day can't come quick enough, aina?

Did you donate to help pay off the $83 million settlement against the rapist?

[The Hippie Satan of Hyperbole]

Inflation is a run-a-way freight train, labor market sucks since no one wants to work, and fuel prices have been wonderfully raised to push the pawns to buy into the BOTUS' Green Energy Plan. Election day can't come quick enough, aina?

You are wrong a lot.

[4everwarriors]

Huh? Just more forward thinkin' than lotsa folks here, hey?

[The Hippie Satan of Hyperbole]

Huh? Just more forward thinkin' than lotsa folks here, hey?

No. Just wrong.

But that’s your usual state so I’m sure you’re used to it.

[Lennys Tap]

Did you donate to help pay off the $83 million settlement against the rapist?

Donald Trump is a therapist? Who knew.

[MU82]

Donald Trump is a therapist? Who knew.

I'm a little shocked you didn't go after 4Qver for his ultra-political post, Lenny.

Oh wait ... he's on your team. Never mind.

[Goose]

Forgetful

Thanks for your comments. I fully understand what I signed up for as a small biz owner and very happy to be one. Not every day is a walk in the park, but would not trade it for anything.

Best part, I am sure there countless scoopers that will point out that SME’s are stronger than ever and all is well on the economic front in the USA.

[Lennys Tap]

I'm a little shocked you didn't go after 4Qver for his ultra-political post, Lenny.

Oh wait ... he's on your team. Never mind.

4ever is my friend, not some Scoop political ally/team member. We agree on a lot of things and disagree on others.

You have more political posts than 4ever, Rocket and every other non lefty here combined. Hundreds and hundreds that I’ve never “gone after”. You break the rules constantly and consciously and get a free pass. Playing the victim under those circumstances makes you look hypocritical. You’re better than that.

[MU82]

4ever is my friend, not some Scoop political ally/team member. We agree on a lot of things and disagree on others.

You have more political posts than 4ever, Rocket and every other non lefty here combined. Hundreds and hundreds that I’ve never “gone after”. You break the rules constantly and consciously and get a free pass. Playing the victim under those circumstances makes you look hypocritical. You’re better than that.

Sorry, my friend, but in this case you're the hypocrite. You're better than that.

[Jay Bee]

Nope



Nope




And nope

You’re not seeing it in your little hillbilly box. You shall be enlightened in time. It’s bad, bad news.

[TSmith34, Inc.]

Inflation is a run-a-way freight train, labor market sucks since no one wants to work, and fuel prices have been wonderfully raised to push the pawns to buy into the BOTUS' Green Energy Plan. Election day can't come quick enough, aina?

I mean, I *could* show you the actual data that shows every one of your statements is wildly inaccurate and mere figments of the fevered imagination of the right-wing echo chamber, but what would be the point? You and your brethren are so addled from the constant deluge of disinformation that you willing slurp down that reality has no way to intrude on your dystopian fantasies.

Time to go back to the basement and monitor the police channels for the latest crime reports.

[MUBurrow]

The characterization that the left "raises fuel prices to push pawns to buy into green energy" is such nihlistic Stockholm syndrome, its a real bummer for anyone younger than say, 50.  It takes so much subsidizing, white knuckling, and soul-selling to cling to fossil fuels and keep them affordable vs shifting even some of that effort into developing renewable energy that only people who truly spite the young too much to want to make things better could fall for it.