US Economy thread

[Lennys Tap]

Lenny, hero of the common man.

Thanks, Pak. Maybe I'll throw my hat in the ring.

How does "Nicer than Trump, Smarter than Biden, Younger than Both" strike you?

[rocky_warrior]

How does "Nicer than Trump, Smarter than Biden, Younger than Both" strike you?

I'd 100% vote Lenny.

Get yourself on the CO ballot!

P.S. - Lenny with verifiable data is a force

[Pakuni]

Thanks, Pak. Maybe I'll throw my hat in the ring.

How does "Nicer than Trump, Smarter than Biden, Younger than Both" strike you?

You had me at "Nicer than Trump."

[MU82]

How does "Nicer than Trump, Smarter than Biden, Younger than Both" strike you?

Don't sell yourself short, my friend. You're also smarter and more honest than Trump, and not a racist or antisemite like he is, either.

You've got my vote!

[Herman Cain]

Love you too Rocky, thanks for the kind words.

And as I readily admitted, the economy has been good for me the past several years. But not for many. And I feel for those people. I wasn't aware that my former profession disqualified me from those feelings but there you go.

Lenny :
Do you remember the day Seka showed up on the floor of The CBOE?

[Uncle Rico]

Lenny :
Do you remember the day Seka showed up on the floor of The CBOE?

Did you try and get her drunk to sleep with her?

[cheebs09]

Who is ready for GameStop round 2? 💎🙏

[Jockey]

You had me at "Nicer than Trump."

Isn't that almost everyone?

[Lennys Tap]

Lenny :
Do you remember the day Seka showed up on the floor of The CBOE?

Absolutely. At the time, she was dating (and supposedly engaged to) Willy Montgomery, a Chicago Corp broker and the stepson of Jack Wing.

[Lennys Tap]

Isn't that almost everyone?

Yep. Almost everyone applies in all three cases. Pretty sorry state we're in, hey?

[MU82]

From Yahoo Finance:

With 92% of the S&P 500 done reporting first quarter earnings, the index is pacing for its highest year-over-year earnings growth since the second quarter of 2022.

As of Friday afternoon the S&P 500 is on pace for earnings growth of 5.4% in the first quarter, notably above the 3.2% expected entering bank earnings in early April.

FactSet senior earnings analyst John Butters points out that the index is actually doing even better when removing a massive earnings miss from just one company. Bristol-Meyers Squibb (BMY) reported a first quarter loss, dragging down the S&P 500's total performance this quarter.

‌Excluding the healthcare company, the S&P 500 is pacing for 8.3% growth, per Butters.

[jesmu84]

https://www.businessinsider.com/high-rent-costs-renters-rental-housing-market-affordability-income-prices-2024-5?utm_source=reddit.com

Renters need to make 36% more than in pre-COVID years to afford today's average rent, Zillow says

US average rent rose to just under $2,000 per month in April, Zillow reports.

Tenants now need to earn 36% more than they did in 2019 to afford a typical rent.

[Skatastrophy]

https://www.businessinsider.com/high-rent-costs-renters-rental-housing-market-affordability-income-prices-2024-5?utm_source=reddit.com

Yep we need to build more housing in desirable areas. Small towns are dying, globally, as people continue to flock to major metro areas to participate in the new economy.

Too bad people aren't willing to live in small towns anymore, but there are no jobs there and the Internet sucks so why bother? It would take the pressure off of major metro area rent prices tho

[tower912]

Wait, I thought cities were being abandoned.

What you say is true, though.   Drive 30-40 minutes farther out to the dying
little small towns and you can find affordable housing.  Then you have to face the commute and small town schools.

[jesmu84]

Yep we need to build more housing in desirable areas. Small towns are dying, globally, as people continue to flock to major metro areas to participate in the new economy.

Too bad people aren't willing to live in small towns anymore, but there are no jobs there and the Internet sucks so why bother? It would take the pressure off of major metro area rent prices tho

https://www.bloomberg.com/news/articles/2024-05-07/record-wave-of-americans-fled-big-cities-for-small-ones-in-2023

[Jockey]

None of this is new.

[Skatastrophy]

https://www.bloomberg.com/news/articles/2024-05-07/record-wave-of-americans-fled-big-cities-for-small-ones-in-2023

"small towns and rural areas, which Lombard defines as metropolitan areas with 250,000 people or fewer"

Silly

Congratulations to Madison, WI on graduating from being a Small Town just a few years ago, they just made it over that 250k bar in 2015. 

[lawdog77]

"small towns and rural areas, which Lombard defines as metropolitan areas with 250,000 people or fewer"

Silly

Congratulations to Madison, WI on graduating from being a Small Town just a few years ago, they just made it over that 250k bar in 2015.

Madison Metropolitan Area hit 250K in 1991.
https://www.macrotrends.net/global-metrics/cities/23058/madison/population

[The Sultan]

https://www.bloomberg.com/news/articles/2024-05-07/record-wave-of-americans-fled-big-cities-for-small-ones-in-2023

According to this, the metropolitan area of Appleton is counted the same as a rural area. And to me, that's not really a great definition.  Appleton has all sorts of nice amenities that larger cities have, and are much more affordable in the process.

I think what tower was talking about were even smaller cities and villages that lay outside of any metropolitan area.

[Skatastrophy]

Madison Metropolitan Area hit 250K in 1991.
https://www.macrotrends.net/global-metrics/cities/23058/madison/population

You're right, I looked up the city population

[Pakuni]

How large must a town be before I can safely try that?

[lawdog77]

According to this, the metropolitan area of Appleton is counted the same as a rural area. And to me, that's not really a great definition.  Appleton has all sorts of nice amenities that larger cities have, and are much more affordable in the process.

I think what tower was talking about were even smaller cities and villages that lay outside of any metropolitan area.

Appleton is considered part of the Fox Cities Metropolitan Area, with a population of over 400K- according to google.

[lawdog77]

Wait, I thought cities were being abandoned.

What you say is true, though.   Drive 30-40 minutes farther out to the dying
little small towns and you can find affordable housing.  Then you have to face the commute and small town schools.

Painting with a wide brush there Tower. There are some very good rural schools.

[tower912]

I think what tower was talking about were even smaller cities and villages that lay outside of any metropolitan area.

Yes.  Those villages of 100 people that have been passed by.      It is a choice, and not for everyone.   Multiple children of close friends have given it a try.

Law dog, you are correct.   And there are bad ones.

[The Sultan]

Appleton is considered part of the Fox Cities Metropolitan Area, with a population of over 400K- according to google.

No, the Appleton Metropolitan Statistical Area it is part of the Fox Cities Combined Statistical Area. Those are two different things.  The article refers to "metro area" without defining it that I can tell.

Regardless, Hilton Head is also a metropolitan area of less than 250,000 that isn't part of a CSA. So is Topeka, KS and Bellingham, WA.  None of those are rural areas.