Kansas Crimson

JKLivin wrote: ↑Fri Oct 18, 2024 3:44 pm

Shirley wrote: ↑Fri Oct 18, 2024 3:11 pm Thanks, Kamala and Joe!

Solid labor market fuels real GDP past pre-Covid, pre-Biden admin. growth views: report (From SeekingAlpha)

Markets have tuned into the soft-landing narrative about the U.S. economy throughout 2024, and a new report shows the economy has more than recovered from the recession blow dealt to it by the COVID pandemic, buoyed by employment at a near all-time high.

The nonpartisan Center for American Progress in a report Thursday credited bipartisan congressional work during the Trump administration and the Biden-Harris administration’s continuation of economic stimulus for pushing real Gross Domestic Product beyond growth projections made by the nonpartisan Congressional Budget Office.

CAP said “robust” employment hovering around its all-time was key in driving real (chained dollar) GDP to $23.22T in the second quarter of 2024. It highlighted the U.S. employment-to-population ratio at near its all-time high when adjusted for demographics. The 61.2% figure for September was just below the 61.49% in April 2020, as the global pandemic was unfolding.

High employment has helped bolster inflation-adjusted wage growth, leading wages to record highs, it said. Wages grew 26.3% between February 2020 and this September, faster than a 21.4% increase in consumer prices.

For Q2 2024, the CBO in January 2020 had forecast real GDP of $22.7T, and in February 2021, it projected $22.9T for Q2 this year. This year’s Q2 result from the U.S. Bureau of Economic Analysis meant real GDP was 2.4% ahead of the CBO’s pre-COVID projection, and 1.6% ahead of the pre-Biden-Harris policy estimate.

The “economy in 2024 is stronger than experts had predicted it would be in 2024 before COVID-19 even happened. And it is stronger now than it was projected to be by 2024 at the beginning of the Biden-Harris administration,” Bobby Kogan and Brendan Duke, senior directors of federal budget policy and economic policy, respectively, at CAP, said in their report.

“Learning from mistakes made in prior recessions, Congress passed recovery legislation that prevented economic scarring and instead ensured a speedy and full recovery," they said...

Then why aren't people doing better? Why are they still unable to afford groceries and cars and homes? Why are they still working multiple jobs? You can play numbers games all you want, but until people see a difference in their bank account and pocket book, they won't care. That is one of the main reasons why Giggles will lose and lose badly.

JKLivin wrote: ↑Fri Oct 18, 2024 3:44 pm

Shirley wrote: ↑Fri Oct 18, 2024 3:11 pm Thanks, Kamala and Joe!

Solid labor market fuels real GDP past pre-Covid, pre-Biden admin. growth views: report (From SeekingAlpha)

Markets have tuned into the soft-landing narrative about the U.S. economy throughout 2024, and a new report shows the economy has more than recovered from the recession blow dealt to it by the COVID pandemic, buoyed by employment at a near all-time high.

The nonpartisan Center for American Progress in a report Thursday credited bipartisan congressional work during the Trump administration and the Biden-Harris administration’s continuation of economic stimulus for pushing real Gross Domestic Product beyond growth projections made by the nonpartisan Congressional Budget Office.

CAP said “robust” employment hovering around its all-time was key in driving real (chained dollar) GDP to $23.22T in the second quarter of 2024. It highlighted the U.S. employment-to-population ratio at near its all-time high when adjusted for demographics. The 61.2% figure for September was just below the 61.49% in April 2020, as the global pandemic was unfolding.

High employment has helped bolster inflation-adjusted wage growth, leading wages to record highs, it said. Wages grew 26.3% between February 2020 and this September, faster than a 21.4% increase in consumer prices.

For Q2 2024, the CBO in January 2020 had forecast real GDP of $22.7T, and in February 2021, it projected $22.9T for Q2 this year. This year’s Q2 result from the U.S. Bureau of Economic Analysis meant real GDP was 2.4% ahead of the CBO’s pre-COVID projection, and 1.6% ahead of the pre-Biden-Harris policy estimate.

The “economy in 2024 is stronger than experts had predicted it would be in 2024 before COVID-19 even happened. And it is stronger now than it was projected to be by 2024 at the beginning of the Biden-Harris administration,” Bobby Kogan and Brendan Duke, senior directors of federal budget policy and economic policy, respectively, at CAP, said in their report.

“Learning from mistakes made in prior recessions, Congress passed recovery legislation that prevented economic scarring and instead ensured a speedy and full recovery," they said...

Then why aren't people doing better? Why are they still unable to afford groceries and cars and homes? Why are they still working multiple jobs? You can play numbers games all you want, but until people see a difference in their bank account and pocket book, they won't care. That is one of the main reasons why Giggles will lose and lose badly.

jfish26 wrote: ↑Fri Oct 18, 2024 4:16 pm

JKLivin wrote: ↑Fri Oct 18, 2024 3:44 pm

Shirley wrote: ↑Fri Oct 18, 2024 3:11 pm Thanks, Kamala and Joe!

Solid labor market fuels real GDP past pre-Covid, pre-Biden admin. growth views: report (From SeekingAlpha)

Markets have tuned into the soft-landing narrative about the U.S. economy throughout 2024, and a new report shows the economy has more than recovered from the recession blow dealt to it by the COVID pandemic, buoyed by employment at a near all-time high.

The nonpartisan Center for American Progress in a report Thursday credited bipartisan congressional work during the Trump administration and the Biden-Harris administration’s continuation of economic stimulus for pushing real Gross Domestic Product beyond growth projections made by the nonpartisan Congressional Budget Office.

CAP said “robust” employment hovering around its all-time was key in driving real (chained dollar) GDP to $23.22T in the second quarter of 2024. It highlighted the U.S. employment-to-population ratio at near its all-time high when adjusted for demographics. The 61.2% figure for September was just below the 61.49% in April 2020, as the global pandemic was unfolding.

High employment has helped bolster inflation-adjusted wage growth, leading wages to record highs, it said. Wages grew 26.3% between February 2020 and this September, faster than a 21.4% increase in consumer prices.

For Q2 2024, the CBO in January 2020 had forecast real GDP of $22.7T, and in February 2021, it projected $22.9T for Q2 this year. This year’s Q2 result from the U.S. Bureau of Economic Analysis meant real GDP was 2.4% ahead of the CBO’s pre-COVID projection, and 1.6% ahead of the pre-Biden-Harris policy estimate.

The “economy in 2024 is stronger than experts had predicted it would be in 2024 before COVID-19 even happened. And it is stronger now than it was projected to be by 2024 at the beginning of the Biden-Harris administration,” Bobby Kogan and Brendan Duke, senior directors of federal budget policy and economic policy, respectively, at CAP, said in their report.

“Learning from mistakes made in prior recessions, Congress passed recovery legislation that prevented economic scarring and instead ensured a speedy and full recovery," they said...

Then why aren't people doing better? Why are they still unable to afford groceries and cars and homes? Why are they still working multiple jobs? You can play numbers games all you want, but until people see a difference in their bank account and pocket book, they won't care. That is one of the main reasons why Giggles will lose and lose badly.

So: if statistics like unemployment, market indices, CPI, GDP, etc., cannot be used - not now, not ever - to conclude that people are "doing better," what can?

What is your measuring stick, if not capable of being expressed in numbers, for when people are "doing better?"

Overlander wrote: ↑Fri Oct 18, 2024 4:19 pm

JKLivin wrote: ↑Fri Oct 18, 2024 3:44 pm

Shirley wrote: ↑Fri Oct 18, 2024 3:11 pm Thanks, Kamala and Joe!

Solid labor market fuels real GDP past pre-Covid, pre-Biden admin. growth views: report (From SeekingAlpha)

Markets have tuned into the soft-landing narrative about the U.S. economy throughout 2024, and a new report shows the economy has more than recovered from the recession blow dealt to it by the COVID pandemic, buoyed by employment at a near all-time high.

The nonpartisan Center for American Progress in a report Thursday credited bipartisan congressional work during the Trump administration and the Biden-Harris administration’s continuation of economic stimulus for pushing real Gross Domestic Product beyond growth projections made by the nonpartisan Congressional Budget Office.

CAP said “robust” employment hovering around its all-time was key in driving real (chained dollar) GDP to $23.22T in the second quarter of 2024. It highlighted the U.S. employment-to-population ratio at near its all-time high when adjusted for demographics. The 61.2% figure for September was just below the 61.49% in April 2020, as the global pandemic was unfolding.

High employment has helped bolster inflation-adjusted wage growth, leading wages to record highs, it said. Wages grew 26.3% between February 2020 and this September, faster than a 21.4% increase in consumer prices.

For Q2 2024, the CBO in January 2020 had forecast real GDP of $22.7T, and in February 2021, it projected $22.9T for Q2 this year. This year’s Q2 result from the U.S. Bureau of Economic Analysis meant real GDP was 2.4% ahead of the CBO’s pre-COVID projection, and 1.6% ahead of the pre-Biden-Harris policy estimate.

The “economy in 2024 is stronger than experts had predicted it would be in 2024 before COVID-19 even happened. And it is stronger now than it was projected to be by 2024 at the beginning of the Biden-Harris administration,” Bobby Kogan and Brendan Duke, senior directors of federal budget policy and economic policy, respectively, at CAP, said in their report.

“Learning from mistakes made in prior recessions, Congress passed recovery legislation that prevented economic scarring and instead ensured a speedy and full recovery," they said...

Then why aren't people doing better? Why are they still unable to afford groceries and cars and homes? Why are they still working multiple jobs? You can play numbers games all you want, but until people see a difference in their bank account and pocket book, they won't care. That is one of the main reasons why Giggles will lose and lose badly.

I can only speak for myself.
I am doing better.
I can afford whatever I want to buy.
I just have the one job…and some passive income.

I did have a bit of a bump in the road doing a home remodel during the Covid supply chain issue. My opinion on who caused the majority of that will differ….unless you believe what Mich says about the “buck stops with the man in charge”…then that choice is easy to figure out.

Your “Giggles’ schtick isn’t a help to your case.

JKLivin wrote: ↑Fri Oct 18, 2024 4:52 pm

jfish26 wrote: ↑Fri Oct 18, 2024 4:16 pm

JKLivin wrote: ↑Fri Oct 18, 2024 3:44 pm

Then why aren't people doing better? Why are they still unable to afford groceries and cars and homes? Why are they still working multiple jobs? You can play numbers games all you want, but until people see a difference in their bank account and pocket book, they won't care. That is one of the main reasons why Giggles will lose and lose badly.

So: if statistics like unemployment, market indices, CPI, GDP, etc., cannot be used - not now, not ever - to conclude that people are "doing better," what can?

What is your measuring stick, if not capable of being expressed in numbers, for when people are "doing better?"

Don’t know that I have one. I do know what I see and hear, and, as a family whose livelihood is dependent on people having enough disposable income to send their kids to private college, things are disturbing.

JKLivin wrote: ↑Fri Oct 18, 2024 4:53 pm

Overlander wrote: ↑Fri Oct 18, 2024 4:19 pm

JKLivin wrote: ↑Fri Oct 18, 2024 3:44 pm

Then why aren't people doing better? Why are they still unable to afford groceries and cars and homes? Why are they still working multiple jobs? You can play numbers games all you want, but until people see a difference in their bank account and pocket book, they won't care. That is one of the main reasons why Giggles will lose and lose badly.

I can only speak for myself.
I am doing better.
I can afford whatever I want to buy.
I just have the one job…and some passive income.

I did have a bit of a bump in the road doing a home remodel during the Covid supply chain issue. My opinion on who caused the majority of that will differ….unless you believe what Mich says about the “buck stops with the man in charge”…then that choice is easy to figure out.

Your “Giggles’ schtick isn’t a help to your case.

Duly noted. Thanks for a non-snarky reply. I mean that genuinely.

Overlander wrote: ↑Fri Oct 18, 2024 5:21 pm

JKLivin wrote: ↑Fri Oct 18, 2024 4:53 pm

Overlander wrote: ↑Fri Oct 18, 2024 4:19 pm

I can only speak for myself.
I am doing better.
I can afford whatever I want to buy.
I just have the one job…and some passive income.

I did have a bit of a bump in the road doing a home remodel during the Covid supply chain issue. My opinion on who caused the majority of that will differ….unless you believe what Mich says about the “buck stops with the man in charge”…then that choice is easy to figure out.

Your “Giggles’ schtick isn’t a help to your case.

Duly noted. Thanks for a non-snarky reply. I mean that genuinely.

I really am trying to not be the person that you pull out of me.

We can both do better.

Overlander wrote: ↑Fri Oct 18, 2024 5:19 pm

JKLivin wrote: ↑Fri Oct 18, 2024 4:52 pm

jfish26 wrote: ↑Fri Oct 18, 2024 4:16 pm

So: if statistics like unemployment, market indices, CPI, GDP, etc., cannot be used - not now, not ever - to conclude that people are "doing better," what can?

What is your measuring stick, if not capable of being expressed in numbers, for when people are "doing better?"

Don’t know that I have one. I do know what I see and hear, and, as a family whose livelihood is dependent on people having enough disposable income to send their kids to private college, things are disturbing.

I just don’t see how “folks can’t afford to send their kids to private college” is the economic indicator that most of us are watching.

KUTradition wrote: ↑Fri Oct 18, 2024 6:17 pm i don’t like that it takes both parents working in the vast majority of cases in order to buy a house, have a family, and save for retirement

the 1950s aren’t coming back…and it’s not Biden’s, Kamala’s, or the Democrats’ fault

Overlander wrote: ↑Fri Oct 18, 2024 5:19 pm

JKLivin wrote: ↑Fri Oct 18, 2024 4:52 pm

jfish26 wrote: ↑Fri Oct 18, 2024 4:16 pm

So: if statistics like unemployment, market indices, CPI, GDP, etc., cannot be used - not now, not ever - to conclude that people are "doing better," what can?

What is your measuring stick, if not capable of being expressed in numbers, for when people are "doing better?"

Don’t know that I have one. I do know what I see and hear, and, as a family whose livelihood is dependent on people having enough disposable income to send their kids to private college, things are disturbing.

I just don’t see how “folks can’t afford to send their kids to private college” is the economic indicator that most of us are watching.

twocoach wrote: ↑Fri Oct 18, 2024 6:36 pm

Overlander wrote: ↑Fri Oct 18, 2024 5:19 pm

JKLivin wrote: ↑Fri Oct 18, 2024 4:52 pm

Don’t know that I have one. I do know what I see and hear, and, as a family whose livelihood is dependent on people having enough disposable income to send their kids to private college, things are disturbing.

I just don’t see how “folks can’t afford to send their kids to private college” is the economic indicator that most of us are watching.

Reminds me of the end of my competitive career. My partner at the time was from LA and she had to quit because her family was going some "tough financial times". Her parents had to sell their place in Sun Valley, Idaho and build a new place in West Hollywood after the game show the Dad produced was cancelled and they needed to "tighten their belt". Mind you, I was bartending after training every night and then going home to the room I rented above some lady's garage at the time to fund my training and praying every day that my junky vehicle would make it to the facility without dying.

We all have different levels of how we define "struggling".

Sparko wrote: ↑Fri Oct 18, 2024 6:57 pm The economy is better under democratic presidents over the last century. So says all evidence and history.

randylahey wrote: ↑Fri Oct 18, 2024 7:00 pm

Sparko wrote: ↑Fri Oct 18, 2024 6:57 pm The economy is better under democratic presidents over the last century. So says all evidence and history.

Not what the past 4 years said. Even if that was accurate, which it's clearly no tangible way to make a claim like that, it doesn't matter. Because the current administration has done a shitty job, and in no way has kamala earned a promotion. She's making all these day one promises of things she could fix now while already being in office