U.S. grew 2.9% in third quarter, GDP shows, and there’s little sign of recession for now

Discussion in 'Current Events' started by Egoboy, Dec 1, 2022.

  1. sec

    sec Well-Known Member

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    well, have you asked any of the thousands who have been laid off how they like full Democrat control? Go on, ask a few
     
  2. Arkanis

    Arkanis Well-Known Member

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    The unemployment rate is 3.7%.

    There are just over 9 million job openings in the country.

    This is the highest level in 50 years.
     
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  3. nopartisanbull

    nopartisanbull Well-Known Member

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    Your rationale is irrational.
     
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  4. nopartisanbull

    nopartisanbull Well-Known Member

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    When Trump had a 3.5% unemployment rate, and a record high 7 million job openings, it was “a MAGA accomplishment”.
     
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  5. Egoboy

    Egoboy Well-Known Member Past Donor

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    It's like, he's not aware that if there are layoffs (much from overpopulated tech companies) HERE, there are new jobs opening THERE to compensate....
     
    Last edited: Dec 2, 2022
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  6. flyboy56

    flyboy56 Well-Known Member Past Donor

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    We're not exactly in a luxury buying economy. The necessities cost 5% more and I'm sure that is what most people are buying.
     
  7. flyboy56

    flyboy56 Well-Known Member Past Donor

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    No one in either party want to talk about the actual unemployment rate.
     
  8. Chrizton

    Chrizton Well-Known Member

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    Stock Market not liking the jobs report because they see it as a reason for the Fed to keep ratcheting up interest rates. We live in a world of schizophrenic economic indicators these days.

    Anyway, when the recession comes, it comes. I have been in recession mode since early January 2020. It kind of has become my new normal really, at least as long as student loans remain paused. Paid off $12ishK in credit cards and a $6700 loan banked well over $10K in two years and have put almost that into my robinhood. I am in a pay off debt and amass wealth mindset. Recession or not, I don't see that changing. When I go back to repaying student loans next September or whenever, I will have weathered this all swimmingly.
     
  9. Bill Carson

    Bill Carson Well-Known Member

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    Go with my "Russian propaganda".?

    Well Mr German citizen that isn't even an American citizen, take your Trump living rent free in your head and run along....

    I don't buy any of the official reporting no matter what party is holding the White House

    Real inflation is every bit of 20%

    Real unemployment is every bit of 25%

    If all the able-bodied welfare leeches were thrown off the Democrat plantation welfare programs, the unemployment numbers would go through the roof.
     
    Last edited: Dec 2, 2022
  10. DEFinning

    DEFinning Well-Known Member Past Donor

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    The country ADDED JOBS in October-- 261,000! Get a clue: the economy is growing, and people are working. In an economy the size of ours, with its millions of jobs, there is never a time when it can't be said, that "tens of thousands...recently lost their positions." But, under Biden, hundreds of thousands have recently found positions.

    What negatives are you going to find, I wonder, in Biden's negotiating a new contract for railroad workers, and the Democrats in Congress preventing a railroad strike?
     
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  11. Egoboy

    Egoboy Well-Known Member Past Donor

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    We were talking about Christmas spending... which I personally don't consider a necessity, at least going into heavy debt for....

    Personally, if we don't feel we can pay it off in 2 CC cycles, it's a hard pass...
     
  12. Egoboy

    Egoboy Well-Known Member Past Donor

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    3.7% Very nearly down to the pre-COVID rate.

    What's left to say?

    Or are you going to go all Kellyanne on us with some alternate facts?
     
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  13. DEFinning

    DEFinning Well-Known Member Past Donor

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    I don't follow your jump, from my saying that predictions, at this point, of where the stock market will end next year, are meaningless, to your reply, about inflation. Can you explain the connection, in your thinking?
     
    Last edited: Dec 2, 2022
  14. Pollycy

    Pollycy Well-Known Member

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    Real inflation varies hugely on different products and services. I've seen 75% increases in the prices of some food products, but others have remained essentially flat. The price of gasoline has fallen quite a lot in the last six months, but that seems largely due to Biden pillaging the Strategic Petroleum Reserve in time to prevent election-year damage to Democrats. Diesel fuel is still quite high, and, obviously, that impacts the price of everything delivered by nearly all the trucks in the United States.

    My own 'long-range scanner' is worried, however, about the fact that our national debt-versus-GDP ratio is over 130%... and nearly all respected economists warn that once this ratio goes over ~77%, a nation's economy is on a "Highway to Hell"....
    Link: https://tradingeconomics.com/united-states/government-debt-to-gdp

    Now, concerning your observations about unemployment, you may find this information interesting:
    Link: https://www.bls.gov/news.release/empsit.t15.htm

    If this information from the U. S. Bureau of Labor Statistics is correct, your estimate of real unemployment is much too high....
     
    Last edited: Dec 2, 2022
  15. independentthinker

    independentthinker Well-Known Member

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    Thanks for proving my point. You're making this far too easy for me.
     
  16. Bill Carson

    Bill Carson Well-Known Member

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    That's swell and all but there are (at least) 265 million people over 16, not in the military or in prison. Of that number only 164 million are counted in the labor force. That's a labor participation rate of 62%....in other words, 38% are unemployed. These are government numbers. Then they ignore that 38% COMPLETELY and base the unemployment rate off of the 164 million, which is total bullshit. My number is not high. If anything, it's low.

    If you exclude everyone over the age of 65, the unemployment rate is 24%.

    And this is how you get $31 trillion in debt.
     
    Last edited: Dec 2, 2022
  17. DEFinning

    DEFinning Well-Known Member Past Donor

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    Right... You're not only proving that that you have no argument, by your not being able to present any argument-- that would not be a sensible conclusion. The case, you present, OTOH-- that in my asking you to connect your two non sequitur ideas, I'm proving your point-- now that's the compelling argument, which is pointless to even try to contest. Sure... whatever gives your life, some illusion of success.
     
    Last edited: Dec 2, 2022
  18. hawgsalot

    hawgsalot Well-Known Member

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    Oh come on, you know the REAL GDP growth is much lower, due to REAL INFLATION. I've never seen anyone in my life brag about making more revenue (gdp) because necessities cost so much more (inflation). What we know is the lefties will dance in the street claiming Biden is growing the economy, when we all know the majority is due to that month over month 8-9% inflation. Necessities are literally 20% more today than when he took office, 20%! Yea revenue is going to increase, if it doesn't the economy is tanking.
     
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  19. hawgsalot

    hawgsalot Well-Known Member

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    Now go compare prepandemic total number in the workforce compared to today. Everyone knows unemployment is a short term % designed to show current trends, not long term stability, nor success.
     
    Last edited: Dec 2, 2022
  20. BuckyBadger

    BuckyBadger Well-Known Member

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    They twist the fact that Biden is destroying the country by cherry picking something that might make him look good. They ignore everything else.
     
  21. nopartisanbull

    nopartisanbull Well-Known Member

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    What is “real inflation”?
     
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  22. nopartisanbull

    nopartisanbull Well-Known Member

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    What’s relevant to me is the employment rate, thus, how many people age 16 and over are working/contributing.
     
  23. independentthinker

    independentthinker Well-Known Member

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    I appreciate your complete surrender.
     
  24. DEFinning

    DEFinning Well-Known Member Past Donor

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    Without your ever making an argument, what is there for me to argue against?
     
  25. hawgsalot

    hawgsalot Well-Known Member

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    Now you're asking a good question, Real GDP is based on inflation from the base year updated periodically by the government.
     

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