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Thread: 528,000 jobs added in July

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    Quote Originally Posted by Lionfish View Post
    Translated>China virus handout $$$$ ending.
    Let us assume you are right. Benefits ran out over a year ago, so maybe some people were hanging on, not working, and not spending. That could have caused a minor recession in the first half of this year. Now they might be getting jobs, and we might see some nice growth...

    Just in time for the midterm elections.
    Daniel Patrick Moynihan said it best, "You are entitled to your opinion. But you are not entitled to your own facts."
    Paul Begala, "Politics is show business for ugly people."
    Stephen Colbert, "Reality has a well known liberal bias."

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    Quote Originally Posted by Walt View Post
    Let us assume you are right. Benefits ran out over a year ago, so maybe some people were hanging on, not working, and not spending. That could have caused a minor recession in the first half of this year. Now they might be getting jobs, and we might see some nice growth...

    Just in time for the midterm elections.
    Note to Wally, click my original link. The China Virus $$$$ is just now starting to run out.

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    Quote Originally Posted by Lionfish View Post
    Note to Wally, click my original link. The China Virus $$$$ is just now starting to run out.
    You mean this link?

    https://www.cnn.com/2021/09/06/polit...ers/index.html

    The link to a nearly YEAR OLD article that says enhanced unemployment benefits or "China virus $$$" as you put it, had ended as of last summer?

    The article that DISPROVES your claim that the benefits are JUST NOW starting to run out?
    What kind of country have we become?

    One in which federal prosecutors can take “evidence” before a “grand jury,”

    and that grand jury can “vote to indict” a former president for 91 alleged “crimes”?

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    Quote Originally Posted by ZappasGuitar View Post
    You mean this link?

    https://www.cnn.com/2021/09/06/polit...ers/index.html

    The link to a nearly YEAR OLD article that says enhanced unemployment benefits or "China virus $$$" as you put it, had ended as of last summer?

    The article that DISPROVES your claim that the benefits are JUST NOW starting to run out?
    China virus money is still flowing into states and the agency I work for cannot spend it fast enough. People are still working three days/week and getting paid for five.

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    Quote Originally Posted by Cypress View Post
    Larry Kudlow, Trump's economic advisor, predicted on Thursday that the jobs report would only show an anemic
    100k jobs added
    thats pretty anemic
    Doc Dutch finally admits he is a steaming pile of chickenshit!

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    Quote Originally Posted by BartenderElite View Post
    They build that into projections. This report blew projections away.

    Not sure why anyone needs to talk it down. This is good news for the economy.
    they do not build that into projections, the economy still sucks with higher inflation every month
    Doc Dutch finally admits he is a steaming pile of chickenshit!

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    Quote Originally Posted by Cypress View Post
    I don't dismiss that we face some economic risks, presumably that is why the Fed is being aggressive.
    Lessons learned from the Nixon era of stagflation. This why I believe in a mixture of Keynesian and Monetarist economic policy instead of the Supply Side Voodoo Economics or Bernie Brothers brand of socialism (though I do willingly admit there are times and situations where socialism is warranted.).

    It is indeed an odd situation. Inflation is cutting into standards of living and GDP Growth has declined for two consecutive fiscal quarters which is the technical definition of a short term recession.

    Yet unemployment is low and new hiring and wage growth have increased. Corporations are making increased profits but volatility has hit stocks hard.

    My anecdotal observation is that small businesses are taking it in the ass. Particularly in the service sector where times have been rough.

    Yet the corporate world seems to being well. I received a significant pay raise at the start of the year and a promotion, in which that opportunity became available due to business growth, not to mention my annual bonus was almost double what I normally receive. The misses earned a substantial raise too.

    My stock portfolio went south but the increase in my house valuation offset that loss entirely. In addition I’m still working from home so gasoline inflation has had a very minor impact on my cost of living.

    As you said it’s a really odd situation but my guess is we will more than likely see a recovery in GDP growth and we have seen some evidence that a decline in inflation has started. To early to tell yet. It’s really confusing as seeing solid improvement in some metrics and significant declines in others shouldn’t be happening at the same time.

    I think we’re seeing a long term readjustment on investing in manufacturing and trade as a lot of businesses have learned the hard way what the risks of overextending your supply chain and logistics. As each month goes by we’re seeing a gradual improvement from the post COVID Supply chain mess. Though that may take longer than we would like the fact that it’s forcing economic investment at home will be worth the pain.

    But yea…odd, odd, odd.
    You're Never Alone With A Schizophrenic!

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    Quote Originally Posted by Mott the Hoople View Post
    Lessons learned from the Nixon era of stagflation. This why I believe in a mixture of Keynesian and Monetarist economic policy instead of the Supply Side Voodoo Economics or Bernie Brothers brand of socialism (though I do willingly admit there are times and situations where socialism is warranted.).

    It is indeed an odd situation. Inflation is cutting into standards of living and GDP Growth has declined for two consecutive fiscal quarters which is the technical definition of a short term recession.

    Yet unemployment is low and new hiring and wage growth have increased. Corporations are making increased profits but volatility has hit stocks hard.

    My anecdotal observation is that small businesses are taking it in the ass. Particularly in the service sector where times have been rough.

    Yet the corporate world seems to being well. I received a significant pay raise at the start of the year and a promotion, in which that opportunity became available due to business growth, not to mention my annual bonus was almost double what I normally receive. The misses earned a substantial raise too.

    My stock portfolio went south but the increase in my house valuation offset that loss entirely. In addition I’m still working from home so gasoline inflation has had a very minor impact on my cost of living.

    As you said it’s a really odd situation but my guess is we will more than likely see a recovery in GDP growth and we have seen some evidence that a decline in inflation has started. To early to tell yet. It’s really confusing as seeing solid improvement in some metrics and significant declines in others shouldn’t be happening at the same time.

    I think we’re seeing a long term readjustment on investing in manufacturing and trade as a lot of businesses have learned the hard way what the risks of overextending your supply chain and logistics. As each month goes by we’re seeing a gradual improvement from the post COVID Supply chain mess. Though that may take longer than we would like the fact that it’s forcing economic investment at home will be worth the pain.

    But yea…odd, odd, odd.
    Since you mentioned monetary policy the Fed is arguably the biggest driver of economic inequality in this country. If I’m reading your post correctly you are praising Fed actions. Curious what you like about it?

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    Quote Originally Posted by cawacko View Post
    Since you mentioned monetary policy the Fed is arguably the biggest driver of economic inequality in this country. If I’m reading your post correctly you are praising Fed actions. Curious what you like about it?
    I wouldn’t exactly call increasing interest rates as something praise worth so much as doing there job. I would also argue that The Fed hasn’t been the main driver of inequality. That title belongs to 30+ years of supply side policies.
    You're Never Alone With A Schizophrenic!

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    Quote Originally Posted by cawacko View Post
    Since you mentioned monetary policy the Fed is arguably the biggest driver of economic inequality in this country. If I’m reading your post correctly you are praising Fed actions. Curious what you like about it?
    BTW, I haven’t seen you in a while (hope all is well with you and family) but WTF! USC and UCLA in the Big Ten? It just seems sooooo wrong. I don’t mean that in a pejorative manner either.

    I mean what’s next? Notre Dame joining the Big 10? If that were to happen my father would roll in his grave.
    You're Never Alone With A Schizophrenic!

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    Quote Originally Posted by Mott the Hoople View Post
    BTW, I haven’t seen you in a while (hope all is well with you and family) but WTF! USC and UCLA in the Big Ten? It just seems sooooo wrong. I don’t mean that in a pejorative manner either.

    I mean what’s next? Notre Dame joining the Big 10? If that were to happen my father would roll in his grave.
    Hey! The same to you! Yeah, it’s crazy isn’t it? There have been issues with the PAC 12 and how poorly it has been run and how far behind it has fallen economically. So USC leaving doesn’t shock me as there have been people wanting us to leave internally. But with UCLA and to the Big 10? Still hasn’t sunken in. College football is clearly changing. It’s a very different world now and one I’m not a fan of but it is what it is I guess

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    Quote Originally Posted by Mott the Hoople View Post
    I wouldn’t exactly call increasing interest rates as something praise worth so much as doing there job. I would also argue that The Fed hasn’t been the main driver of inequality. That title belongs to 30+ years of supply side policies.
    I guess this would be for a separate discussion but how they handle rates and policies such as multiple QE’s very much drive decisions made in the economy (such as boosting asset values) which benefit the well to do and leave the working class further behind.

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    Quote Originally Posted by Cypress View Post
    Jobs report: U.S. economy adds 528,000 jobs in July, unemployment rate falls to 3.5%

    The U.S. labor market remained robust in July, even as the Federal Reserve tightened monetary conditions and a growing number of companies scaled back on hiring and announced layoffs.

    https://www.google.com/amp/s/finance...123238307.html
    I know, and I just paid 3.99 for gas yesterday in WA state. Wow.. that bad economic news isn't that bad anymore... sowee twumptards. Eat poop!
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    Quote Originally Posted by Cypress View Post
    That doesn't seem like a recession to me .
    You're making twuptards cry, and me hard
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    There will come a day where Donald Trump is gone, but the dishonor of those who carried his water will remain.

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    Quote Originally Posted by Cypress View Post
    The MAGA contingent has been claiming economic disaster since at least March, if not earlier.
    Well, at least they've got the outcome of the Durham investigation to look forward to.. you know.. Durham.. the twuptard demon who was supposed to "bust open that deep state"?

    Wait!

    Oh..

    Nevermind

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