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The New Coffee Room

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  3. Bidenomics

Bidenomics

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  • G Offline
    G Offline
    George K
    wrote on 25 Apr 2024, 13:32 last edited by
    #97

    https://www.cnbc.com/2024/04/25/stock-markets-today-live-updates.html

    Unexpectedly, of course.

    U.S. gross domestic product expanded 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%.

    Along with the downbeat growth rate for the quarter, the report showed consumer prices increased at a 3.4% pace, well above the previous quarter’s 1.8% advance. This raised concern over persistent inflation and put into question whether the Federal Reserve will be able to cut rates anytime soon.

    “In the short term, the numbers don’t appear to be a green light for either bulls or bears, but if the initial reaction of stock index futures is any indication, the uncertainty is unlikely to ease pressures in a market experiencing its deepest pullback since last year,” said Chris Larkin, managing director of trading and investing at E*Trade from Morgan Stanley.

    Following the GDP print, traders moved down expectations for an easing of Federal Reserve monetary policy. Traders now forecast just one interest rate cut this year, according to the CME FedWatch Tool.

    The lackluster GDP added further pressure to an already-tense market contending with concerns over a pullback in growth among technology earnings.

    Meta plunged 15% in premarket trading after the social media giant issued light revenue guidance for the second quarter. That would be the stock’s biggest one-day decline since October 2022. International Business Machines also fell 8% after missing consensus estimates for first-quarter revenue.

    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

    1 Reply Last reply
    • L Offline
      L Offline
      LuFins Dad
      wrote on 25 Apr 2024, 15:31 last edited by
      #98

      Delayed rate cut? We might see another hike!

      The Brad

      J 1 Reply Last reply 25 Apr 2024, 16:00
      • L LuFins Dad
        25 Apr 2024, 15:31

        Delayed rate cut? We might see another hike!

        J Offline
        J Offline
        Jolly
        wrote on 25 Apr 2024, 16:00 last edited by
        #99

        @LuFins-Dad said in Bidenomics:

        Delayed rate cut? We might see another hike!

        Not until end of the year, after the election.

        “Cry havoc and let slip the DOGE of war!”

        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

        1 Reply Last reply
        • A Offline
          A Offline
          Axtremus
          wrote on 6 May 2024, 00:24 last edited by
          #100

          https://www.cnn.com/2024/05/05/business/retailers-cutting-prices/index.html

          CNN reports that consumers, even the high-income ones, are becoming more budget conscious. Retailers are marking down prices for items deemed "discretionary spending."

          1 Reply Last reply
          • A Offline
            A Offline
            Axtremus
            wrote on 18 May 2024, 12:47 last edited by
            #101

            https://amp.cnn.com/cnn/2024/05/17/markets/dow-closes-above-40-000

            The Dow Jones Industrial Average index closed above 40,000.

            G 1 Reply Last reply 18 May 2024, 12:57
            • A Axtremus
              18 May 2024, 12:47

              https://amp.cnn.com/cnn/2024/05/17/markets/dow-closes-above-40-000

              The Dow Jones Industrial Average index closed above 40,000.

              G Offline
              G Offline
              George K
              wrote on 18 May 2024, 12:57 last edited by
              #102

              @Axtremus said in Bidenomics:

              https://amp.cnn.com/cnn/2024/05/17/markets/dow-closes-above-40-000

              The Dow Jones Industrial Average index closed above 40,000.

              Joe still has 8 months to catch the red man's gains.

              Screenshot 2024-05-18 at 7.56.27 AM.png

              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

              T 1 Reply Last reply 19 May 2024, 01:13
              • A Offline
                A Offline
                Axtremus
                wrote on 18 May 2024, 12:57 last edited by
                #103

                Congressional Budget Office's new report:

                https://www.cbo.gov/publication/60166?mod=ANLink

                https://www.marketwatch.com/story/theres-more-good-news-on-inflation-americans-may-have-a-hard-time-believing-it-bea469da

                A new report from the Congressional Budget Office released this week shows that inflation may have had less of an impact on households’ bottom lines than months of sticker shock on everything from Big Macs to daycare might suggest.
                .
                The agency’s analysis took a look at a typical household’s 2019 “consumption bundle”:  the goods and services representing a year’s worth of purchases pre-pandemic. 
                .
                Then, researchers analyzed how much households would pay for that same consumption bundle in 2023 prices, and how much their income rose or fell over the same period. 
                .
                On average, purchasing power for households increased over that period, the agency found.
                .
                “By CBO’s estimate, aggregate income grew more than prices did between 2019 and 2023,” the report states.
                ...
                The portion of household income required to purchase the same bundle of goods and services decreased by 2% for the lowest-earning quintile of households, and by 6.3% for those in the top group.

                G 1 Reply Last reply 18 May 2024, 14:20
                • L Offline
                  L Offline
                  LuFins Dad
                  wrote on 18 May 2024, 14:15 last edited by
                  #104

                  Snort… this ought to be good…

                  The Brad

                  G 1 Reply Last reply 18 May 2024, 14:20
                  • L LuFins Dad
                    18 May 2024, 14:15

                    Snort… this ought to be good…

                    G Offline
                    G Offline
                    George K
                    wrote on 18 May 2024, 14:20 last edited by
                    #105

                    @LuFins-Dad said in Bidenomics:

                    Snort… this ought to be good…

                    I was gonna wait, but....

                    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                    1 Reply Last reply
                    • A Axtremus
                      18 May 2024, 12:57

                      Congressional Budget Office's new report:

                      https://www.cbo.gov/publication/60166?mod=ANLink

                      https://www.marketwatch.com/story/theres-more-good-news-on-inflation-americans-may-have-a-hard-time-believing-it-bea469da

                      A new report from the Congressional Budget Office released this week shows that inflation may have had less of an impact on households’ bottom lines than months of sticker shock on everything from Big Macs to daycare might suggest.
                      .
                      The agency’s analysis took a look at a typical household’s 2019 “consumption bundle”:  the goods and services representing a year’s worth of purchases pre-pandemic. 
                      .
                      Then, researchers analyzed how much households would pay for that same consumption bundle in 2023 prices, and how much their income rose or fell over the same period. 
                      .
                      On average, purchasing power for households increased over that period, the agency found.
                      .
                      “By CBO’s estimate, aggregate income grew more than prices did between 2019 and 2023,” the report states.
                      ...
                      The portion of household income required to purchase the same bundle of goods and services decreased by 2% for the lowest-earning quintile of households, and by 6.3% for those in the top group.

                      G Offline
                      G Offline
                      George K
                      wrote on 18 May 2024, 14:20 last edited by
                      #106

                      @Axtremus said in Bidenomics:

                      The portion of household income required to purchase the same bundle of goods and services decreased by 2% for the lowest-earning quintile of households, and by 6.3% for those in the top group.

                      Family of four. Now, this is Doordash, so the prices might be higher than at the store, but...

                      Two Big Macs
                      Two Medium Fries
                      Two Happy Meals
                      Two Medium Cokes

                      Screenshot 2024-05-18 at 8.28.52 AM.png

                      $36.12

                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                      1 Reply Last reply
                      • L Offline
                        L Offline
                        LuFins Dad
                        wrote on 18 May 2024, 14:30 last edited by
                        #107

                        I’m going to have to dig through the CBO “package” of consumer goods.

                        The Brad

                        1 Reply Last reply
                        • L Offline
                          L Offline
                          LuFins Dad
                          wrote on 18 May 2024, 21:48 last edited by LuFins Dad
                          #108

                          Households in the top income quintile had the largest decline, on average, in the share of income required to pay for their 2019 consumption bundle over that four-year period.

                          So the rich got richer under Biden?

                          The Brad

                          1 Reply Last reply
                          • L Offline
                            L Offline
                            LuFins Dad
                            wrote on 18 May 2024, 21:54 last edited by
                            #109

                            Nowhere in the report does it detail what goods and services were in the packages. An iPhone 11 sold for $750 in 19, and are sold new for $225. It wouldn’t be hard for government agency to game these kind of numbers…

                            The Brad

                            1 Reply Last reply
                            • L Offline
                              L Offline
                              LuFins Dad
                              wrote on 18 May 2024, 22:02 last edited by
                              #110

                              Average Rent in 2019 was $1465. https://www.rentcafe.com/blog/rental-market/2019-mid-year-rent-report-national-average-rent-ends-first-half-year-1465/

                              Average rent today is $1716. That’s $3,000 per year. Weekly Real Earnings are up $7 to $365 over 2019’s $358. That’s $364 dollars per year increase.

                              The Brad

                              1 Reply Last reply
                              • G George K
                                18 May 2024, 12:57

                                @Axtremus said in Bidenomics:

                                https://amp.cnn.com/cnn/2024/05/17/markets/dow-closes-above-40-000

                                The Dow Jones Industrial Average index closed above 40,000.

                                Joe still has 8 months to catch the red man's gains.

                                Screenshot 2024-05-18 at 7.56.27 AM.png

                                T Offline
                                T Offline
                                taiwan_girl
                                wrote on 19 May 2024, 01:13 last edited by
                                #111

                                @George-K said in Bidenomics:

                                Joe still has 8 months to catch the red man's gains.

                                But at the same moment in their President, President Biden has higher returns than President Trump. 😛

                                But it will be difficult to have increases like the last months of President Trump term.

                                G 1 Reply Last reply 19 May 2024, 01:16
                                • T taiwan_girl
                                  19 May 2024, 01:13

                                  @George-K said in Bidenomics:

                                  Joe still has 8 months to catch the red man's gains.

                                  But at the same moment in their President, President Biden has higher returns than President Trump. 😛

                                  But it will be difficult to have increases like the last months of President Trump term.

                                  G Offline
                                  G Offline
                                  George K
                                  wrote on 19 May 2024, 01:16 last edited by
                                  #112

                                  @taiwan_girl said in Bidenomics:

                                  the last months of President Trump term

                                  Which were mostly a recovery from the COVID dip.

                                  "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                  The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                  T A 2 Replies Last reply 19 May 2024, 01:30
                                  • G George K
                                    19 May 2024, 01:16

                                    @taiwan_girl said in Bidenomics:

                                    the last months of President Trump term

                                    Which were mostly a recovery from the COVID dip.

                                    T Offline
                                    T Offline
                                    taiwan_girl
                                    wrote on 19 May 2024, 01:30 last edited by
                                    #113

                                    @George-K said in Bidenomics:

                                    @taiwan_girl said in Bidenomics:

                                    the last months of President Trump term

                                    Which were mostly a recovery from the COVID dip.

                                    Agree. But both of them are behind Obama, (who maybe is behind Clinton, etc.). To me, it just reinforce my thought that the president gets too much credit/too much blame for the economy.

                                    G 1 Reply Last reply 19 May 2024, 13:16
                                    • G George K
                                      19 May 2024, 01:16

                                      @taiwan_girl said in Bidenomics:

                                      the last months of President Trump term

                                      Which were mostly a recovery from the COVID dip.

                                      A Offline
                                      A Offline
                                      Axtremus
                                      wrote on 19 May 2024, 01:47 last edited by
                                      #114

                                      @George-K said in Bidenomics:

                                      @taiwan_girl said in Bidenomics:

                                      the last months of President Trump term

                                      Which were mostly a recovery from the COVID dip.

                                      Or optimism buoyed by the expectation of the coming Biden Presidency! 😉

                                      1 Reply Last reply
                                      • T taiwan_girl
                                        19 May 2024, 01:30

                                        @George-K said in Bidenomics:

                                        @taiwan_girl said in Bidenomics:

                                        the last months of President Trump term

                                        Which were mostly a recovery from the COVID dip.

                                        Agree. But both of them are behind Obama, (who maybe is behind Clinton, etc.). To me, it just reinforce my thought that the president gets too much credit/too much blame for the economy.

                                        G Offline
                                        G Offline
                                        George K
                                        wrote on 19 May 2024, 13:16 last edited by
                                        #115

                                        @taiwan_girl said in Bidenomics:

                                        to me, it just reinforce my thought that the president gets too much credit/too much blame for the economy.

                                        GN52MmOaQAA1F6f.jpeg

                                        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                        T 1 Reply Last reply 20 May 2024, 00:28
                                        • G Offline
                                          G Offline
                                          George K
                                          wrote on 19 May 2024, 14:10 last edited by
                                          #116

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          L 1 Reply Last reply 19 May 2024, 14:32
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