261k jobs created in October

Put another way, cawacko: I'm not saying you're one of those who was predicting Depression w/ Obama's stimulus. But I have heard some who did, and then criticized that it was a "weak recovery."

Really? I mean, that is truly weak sauce. They were as wrong as they could be, and they try to save face by saying that the recovery (which they would have laughed at the mere idea of), is "weak?"
 
BartenderElite said:
I don't disagree that it was a "weak" recovery. But there are a million miles between that, that the Depression that many on the right were guaranteeing.

I don't agree w/ how the Fed has handled things - but COVID created a unique set of challenges. I'm not that economically literate to question what was done, or offer alternatives.
Click to expand...

We had an economy that was reopening and we already had a large amount of stimulus during the shut downs. You can argue the economy didn’t need the Dec 2020 stimulus and you can definitely argue we didn’t need the early 2021 stimulus. That just poured gas on the fire.

Supply chain issues, the Russian invasion etc. also played a role in our current inflation. This isn’t strictly a fiscal/monetary policy thing. But fiscal and monetary policy played a big role and it’s important to understand that.
 
BartenderElite said:
"Weakest economic recovery" sounds like weak criticism, and I've heard that many times. It was a long recovery, and times were pretty good. It wasn't recession, and it certainly wasn't the Depression that many on the right predicted.

The right's "plan" at that time was austerity - and we have seen how that worked around the globe. It doesn't. Keynesian economics is generally the right course in those circumstances.

I disagree on inflation. We wouldn't have this inflation w/out the pandemic.
Click to expand...

don't dems want prices to be high to reduce consumption by useless eaters?
 
cawacko said:
We had an economy that was reopening and we already had a large amount of stimulus during the shut downs. You can argue the economy didn’t need the Dec 2020 stimulus and you can definitely argue we didn’t need the early 2021 stimulus. That just poured gas on the fire.

Supply chain issues, the Russian invasion etc. also played a role in our current inflation. This isn’t strictly a fiscal/monetary policy thing. But fiscal and monetary policy played a big role and it’s important to understand that.
Click to expand...

you need to give up on these retards.
:truestory:

come home, cawacko.
:nolovejesus:
 
Cypress said:
U.S. payrolls surged by 261,000 in October, better than expected as hiring remains strong

https://www.google.com/amp/s/www.cnbc.com/amp/2022/11/04/jobs-report-october-2022-.html
Click to expand...

That is according to the Establishment Survey.
Which is NOTHING to do with the official unemployment rate.
https://www.bls.gov/news.release/empsit.b.htm

And is HORRIBLY inaccurate:

jobs%20since%20march%202022.jpg


The Household Survey - which IS what the unemployment rate is based on...says the U-3 went up 0.2% and that America LOST 328,000 jobs.
https://www.bls.gov/news.release/empsit.a.htm

Plus, the Employment-Population Ratio dropped by 0.1% (dropped is bad).
https://www.bls.gov/charts/employment-situation/employment-population-ratio.htm

I DESPISE both, useless, POS parties.
But anyone who looks at the monthly jobs numbers and calls them 'good'?
Is a macroeconomic IGNORAMUS!!!
And that is being kind.
 
cawacko said:
We had an economy that was reopening and we already had a large amount of stimulus during the shut downs. You can argue the economy didn’t need the Dec 2020 stimulus and you can definitely argue we didn’t need the early 2021 stimulus. That just poured gas on the fire.

Supply chain issues, the Russian invasion etc. also played a role in our current inflation. This isn’t strictly a fiscal/monetary policy thing. But fiscal and monetary policy played a big role and it’s important to understand that.
Click to expand...

I wouldn't disagree w/ anything you've said there. I think people in power were trying to make decisions as quickly and correctly as they could, in a very unstable economic environment.

I don't think we have had any "great" economic minds at or near the WH since Clinton's years. I thought Summers was brilliant.

After posting here for awhile, I'd defer to you more than any other poster when it comes to economic or financial issues. It's clearly something you study more than me, so I would defer more to you on the above. But I have always found the idea that Obama had a "weak recovery," to be pretty qualified criticism.
 
BartenderElite said:
I wouldn't disagree w/ anything you've said there. I think people in power were trying to make decisions as quickly and correctly as they could, in a very unstable economic environment.

I don't think we have had any "great" economic minds at or near the WH since Clinton's years. I thought Summers was brilliant.


After posting here for awhile, I'd defer to you more than any other poster when it comes to economic or financial issues. It's clearly something you study more than me, so I would defer more to you on the above. But I have always found the idea that Obama had a "weak recovery," to be pretty qualified criticism.
Click to expand...

It’s interesting you bring up Summers because he spoke out against the 2021 stimulus warning that the economy was already on the way to recovery and this would overheat it. He also called out the Fed in 2021 for proclaiming inflation to be transitory. So he was spot on here as to what’s happening. To your point, there’s no denying his economic acumen (that of course doesn’t make him, or anyone, right about everything but he’s sharp.)
 
BartenderElite said:
No one is saying this is a great economy.

But it's simply inaccurate to say we're in a "Depression." These are economic terms, with economic definitions. We are nowhere close to a Depression.
Click to expand...

People are depressed that their paychecks don't go near as far as they did 3 years ago. That is a fact.
 
Concart said:
False generalization. Irrelevant to my comment. You aren’t very good at this are you?
Click to expand...

So the cost of everything didn't rise? The cost of diesel fuel rose, which in turn, raises the cost of everything delivered by train or truck. That is a fact.
 
RB 60 said:
So the cost of everything didn't rise? The cost of diesel fuel rose, which in turn, raises the cost of everything delivered by train or truck. That is a fact.
Click to expand...

Gas prices dropped. I’m sure many other things did too. Your statement is false. Month over month inflation is actually starting to drop. Comprehension is apparently also not your strong suit.
 
Concart said:
Gas prices dropped. I’m sure many other things did too. Your statement is false. Month over month inflation is actually starting to drop. Comprehension is apparently also not your strong suit.
Click to expand...

The consumer price index, a key inflation barometer, jumped by 8.2% in September relative to a year earlier. Economists had expected an 8.1% annual increase. Basically, a basket of goods that cost $100 a year ago cost $108.20 today.

The positive news: September’s annual increase was smaller than the 8.3% rise in August.
Click to expand...
https://www.cnbc.com/2022/10/13/heres-the-inflation-breakdown-for-september-2022-in-one-chart.html

.1 drop as we wait to see the adjustment, which you know is coming, initial numbers rarely stand...

WOW!
 
Concart said:
Gas prices dropped. I’m sure many other things did too. Your statement is false. Month over month inflation is actually starting to drop. Comprehension is apparently also not your strong suit.
Click to expand...

Diesel is over $6 a gallon again. Gas is over $4 a gallon again.
Apparently you know little about the cost of delivering goods,
otherwise you'd know that when fuel costs rise, the cost of
everything else rises in turn. It's not that difficult to understand.
 
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