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. Egoboy

    Egoboy Well-Known Member Donor

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    Egoboy, this is the best thread ever.... You rock!

    Update to my gas price comment.... Just filled up the 2nd family vehicle, this time using our November Gas points. $3.09 for 15.5 gallons...

    I hope everybody out there uses some sort of grocery/gas points program. If you are going to whine about gas price fluctuations, you'd have to be a little clueless not to partake in one....or multiple.
     
  2. BuckyBadger

    BuckyBadger Well-Known Member

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    It was lower under Trump. lol
     
  3. nopartisanbull

    nopartisanbull Well-Known Member

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    IMO, real inflation is the cumulative rate of inflation, all items, or one item.
     
  4. Quantum Nerd

    Quantum Nerd Well-Known Member

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    And? The gas price was lower under Obama for some years than it was under Trump. It was lower under Clinton than it was under GWB. It was higher under GWB (adjusted for inflation) than it is now under Biden.

    [​IMG]
    I realize that the Trump faction has a desperate need to make Trump look like some sort of economic magician, and make Biden look like an economic imbecile. However, when you try to do this, at least use actual data, and not Fox News tired talking points.
     
    Last edited: Dec 2, 2022
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  5. sec

    sec Well-Known Member

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    tell that to the folks that have been laid off. Hey...go work at a coffee shop...sheesh

    feel free to peruse this forum with links to layoff stories. Or, act as if it isn't occurring, and defend all things Democrat

    Gee, I wonder which path you will choose.......hmmmmm
     
  6. BuckyBadger

    BuckyBadger Well-Known Member

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    and Biden has done a horrible job, opened our borders, sent inflation to 40 year highs and is destroying our Middle Class and yet you come in here trying to sell us a bunch of nonsesne about "awesome gas prices!!!!" and "GDP is awesome!!!!". The cheerleading for this dementia laden President is really absurd. lol

    That is the "and" part.
     
  7. Pollycy

    Pollycy Well-Known Member

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    No doubt about it, you're right... the Civilian labor force participation rate is down, and it's very worrisome.
    https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm

    But I think the thing that nobody is putting into perspective is what happens in 2023 when the Fed's efforts at reducing the "pudge" that Biden (and Trump, to an extent) injected into the economy with massive amounts of government spending. Are the Fed's microscopic efforts 'too little too late', though?

    There's still way too much cash out there, which is why inflation swelled-up like it has, but I maintain that merely increasing interest rates, even in the almost comical, anemic way that the Fed has this year is nowhere NEAR enough. Sure, 'John and Jane Doe' are burning through their savings now, and racking up credit card debt at a breathtaking rate -- but -- (now we get to the real matter) what about the enormously overvalued stock markets? THAT is the matter that troubles the Fed more than anything else, and as we have seen going back to 2008, the Fed will do anything, and throw ANYBODY 'under the bus' in order to save the almighty-god stock markets!

    Scenario: With the next elections safely two years away, and with a Republican House majority poised to take all the blame for anything that goes wrong, Democrats no longer put any real energy on pumping up 'stimulus', welfare handouts, and 'social programs'. They'll make half-hearted attempts, knowing that a Republican House majority will shoot them all down, and let everything start to go to hell.

    People will have blown much of their savings during the first two quarters of '23, and maxed-out their credit cards. They quit buying any more 'stuff' than they have to, and corporations start laying off people in large numbers. Houses are foreclosed on, cars are repossessed, and, sure enough, most inflation rates fall very noticeably. But, with 'the consumer' (68% -70% of the economy) 'knocked out of the ring', what happens to Wall Street? That's the real question, and it's the only thing that the Federal Reserve System actually cares about! Hint: In spring of 2020, we saw what stocks look like at their REAL value when they have to stand on their own....

    But the Fed has other problems because it's 'joined-at-the-hip' with the other big 'Western' central banks, like the ECB and the Bank of England. So, on top of everything else, the Fed has to do its part to prop-up the euro, especially during the Ukraine war, which shows no signs of ending at all. That's part of why Macron has been over here this week -- to bellyache to Biden that European economies need more support from us! Meanwhile, both Russia and China are laughing their asses off....

    It's a real mess, all the way around, and the Fed created much of it ITSELF, going all the way back to "W" Bush and the whole '9/11' fiasco. In addition to your thoughts, I'd really love to hear from @Zorro . Zorro is always a dependable source for valuable insight into economic matters.


    search recall marker
     
    Last edited: Dec 2, 2022
  8. Egoboy

    Egoboy Well-Known Member Donor

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    Your chart just makes me angrier at Woodrow Wilson than I've ever been....

    :)
     
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  9. Pollycy

    Pollycy Well-Known Member

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    Yeah, 'Woody' Wilson -- the dumb son-of-a-bitch who along with his fellow liberal Democrats in Congress created our wonderous central bank -- the Federal Reserve System, way back in 1913!

    Interesting, though, that by 1919, Woodrow Wilson came to regret bitterly having done this --

    [​IMG]. Do Democrats ever think about what they're doing? :psychoitc:
     
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  10. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Where did I say the gas prices are "awesome". or the GDP is "awesome"? I didn't. I just made the point that they are not as terrible as the Trump supporters make them out to be, given historical context, and that the correlation between Dem president = poor economy = high gas prices = poor GDP is nowhere near the GOP propaganda is projecting.

    I see, however, that you can't counter with actual data, you just have tired GOP talking points, i.e. Biden is destroying the middle class. Where this this come from?
     
    Last edited: Dec 2, 2022
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  11. Bullseye

    Bullseye Well-Known Member

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    How much of that growth is inflation related? Oh, speaking of gas prices; where are they in relation to where they were on January 20 2021?

    Screenshot 2022-12-02 at 11.41.40 AM.png
     
  12. BuckyBadger

    BuckyBadger Well-Known Member

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    I countered with facts like Biden has horrible issues with inflation because of his horrible policies. You went on to cheerlead about gas and GDP. You cherry pick without looking at the economy as a whole or the state at which we are because of the Democrats and far left in power. You also ignore issues like a shrinking Middle Class, increase in poverty, crime rates in liberal cities and the destruction of our energy sector.
     
  13. BuckyBadger

    BuckyBadger Well-Known Member

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    That is the main problem. Almost everything they do is bad for the people and bad for the country. Biden opening borders will have consequences that will never be erased. He and his far left Admin know this and they know the media and it's followers will give them cover. Inflation, destroy the energy sector, fascist FBI investigations....... It will end badly.
     
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  14. Bill Carson

    Bill Carson Banned

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    Just a couple of things.

    The labor participation rate is down because welfare is up.

    And the stocks are over valued because the Fed artificially keeps interest rates low which in turn screws over all fixed income people and fixed income assets which drives all liquidity to the only place with a chance of return on investment...the stock market.

    All these problems stem from government intervention.
     
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  15. Egoboy

    Egoboy Well-Known Member Donor

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    That would be higher.... I would have figured most on here could do that math on their own, but glad to help....

    We can do some geometry tomorrow... hit me up...
     
  16. BuckyBadger

    BuckyBadger Well-Known Member

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    You spelled "mental gymnastics" wrong. lol
     
  17. Bullseye

    Bullseye Well-Known Member

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    Everybody likes a little a** but no one likes a wise**
     
  18. DEFinning

    DEFinning Well-Known Member Donor

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    Since reading something once, is clearly insufficient for you to absorb it, I will repeat: there will always be people who have just been laid off-- does that mean that the economy is always bad?

    Of course, your "opinion" transparently, has nothing to do with facts. It is simply: Dems bad. If conditions were exactly as they are now, except a Republican was in the White House, you'd be asking what we expect him to do; moreover, you'd be touting all his accomplishments: the half- empty glass, would suddenly be half- full.

    We all, have already witnessed this with Covid: the Right blames Biden for not being able to vanquish the pandemic, on his own, but steadfastly contends that Trump had done everything possible.


    Hypocrisy disgusts me. If that is what you are about, I care not to waste any more time, in this sham "discussion."
     
    Last edited: Dec 2, 2022
  19. Statistikhengst

    Statistikhengst Well-Known Member

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    Why was this Friend fired?

    Maybe it's just all Obama's fault.
     
    Last edited: Dec 3, 2022
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  20. Hey Now

    Hey Now Well-Known Member

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    Facts and reality are not your friend. You'd be better off making chit up as you go and partisan-ly hoping on pain for America. OHH WAIT!!!! That's exactly what you are compelled to do...
     
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  21. Pollycy

    Pollycy Well-Known Member

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    If you google the word, "hyperliberal", you'll see it defined as:

    hyperliberal

    English[edit]
    Etymology[edit]
    hyper- +‎ liberal

    Adjective[edit]
    hyperliberal (comparative more hyperliberal, superlative most hyperliberal)

    1. Extremely politically liberal.
    But, it's possible that you may not understand the word "hyper" (as differentiated from the word "hypo"... so:

    Hyper. 1. (Science: prefix) Signifying over, above, high, beyond, excessive, above normal; as, hyperphysical, hyperthyrion; also abnormally great, excessive; as, hyperbola, hypercritical, hypersecretion.

    Hypo.
    A prefix that means "beneath" or "below," as in hypodermic, below the skin. It also means "less than normal," as in hypoglycemia, having a level of sugar in the blood that is less than normal.

    At any rate, "hyperliberal" is a term found in usage especially about the time the Democrat Party took a decidedly Leftist turn in 2006, but in more recent years it has been eclipsed by the shorter, more 'American-English'- friendly word, "woke".

    I've used the term, "hyperliberal", since I came to the Forum in 2008... a few years before you got here. :dog:
     
    Last edited: Dec 3, 2022
  22. Bluesguy

    Bluesguy Well-Known Member Donor

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    And when the persons estimate the number using a factor which is only an estimate by other persons......

    For instance the unemployment rate estimate versus the household survey

    "A tale of conflicting employment surveys: The latest establishment-level data from BLS show 263,000 jobs added in November on par with the last few months.
    BUT the household survey report continues to show signs of weakness with a decline in employment over the last three months."
    [​IMG]
    https://twitter.com/eliselgould/status/1598675175750471683/photo/1
     
  23. Independent4ever

    Independent4ever Well-Known Member

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    50% unemployment in my house vs 2021.....
     
  24. DEFinning

    DEFinning Well-Known Member Donor

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    This will clearly come as news to you, but all of that, still does not define the term. I understand the prefix "hyper." My point, was that no one identifies as a "hyperliberal." Nor does one hear that term, in mainstream media. So, it is, essentially, your own word; that is, the definition of to whom it refers, is completely subjective, decided on by you. In such an instance, it should be understood that you should clarify your way of thinking of it-- who knows, there could be someone reading your post who also uses the word hyperliberal, but does so differently, than yourself.

    What I can only guess, from your explanation, is that you are basically replacing the commonly used term "Progressive," with "hyperliberal?" If so-- way to telegraph that you do not care to have any real dialog, with those on the Left, or even very much, with those in the Center.
     
    Last edited: Dec 3, 2022
  25. Pollycy

    Pollycy Well-Known Member

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    No, you don't see or hear the word "hyperliberal" in the hyperliberal "news" media, but it definitely does have currency, although certainly not among those who want to be OUTED as actually being "hyperliberal". No, those who adopt radical, 'woke' (do you acknowledge the word "woke"?) political dogma want to be perceived as erudite, intellectual, reasonable people -- and all those who oppose them are knuckle-dragging Nazi racists... right...?

    I remember the lyrics to an old song... "You say 'po-TAY-to, and I say 'po-TAH-to'...." And, I may add, "a hyperliberal by any other name is still 'hyper' and 'liberal' -- surely we can agree on that much.

    [​IMG]. :oldman: -- "No... I 'called a spade a spade'...!"
     
    Last edited: Dec 4, 2022

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