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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."
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”?
Cypress (08-06-2022)
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!
You're Never Alone With A Schizophrenic!
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!
cawacko (08-08-2022)
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
Mott the Hoople (08-11-2022)
Mott the Hoople (08-11-2022)
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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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