Bidenomics
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@Axtremus said in Bidenomics:
Why parents with young children are reporting a dramatic drop-off in their financial well-being
The Survey of Household Economics and Decisionmaking found a decline in the percentage of parents living with children under age 18 who felt financially secure, dropping from 69% in 2022 to 64% in 2023. That was also down from a record high of 75% in 2021.
So … @89th , @Aqua-Letifer , how are you feeling?
Oh, I wake up with my balls about an inch away from the bandsaw every morning, so inflation's just a nice extra.
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@George-K said in Bidenomics:
Remember the article by Summers et al?
Which is it, RNC, median? Or average?
When Bill Gates walks into a soup kitchen the average net worth rises to $900MM. However the median net worth stays at a few bucks.
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@jon-nyc said in Bidenomics:
Which is it, RNC, median? Or average?
https://www.realtor.com/news/trends/how-much-you-need-to-earn-in-every-state-to-buy-a-home/
Homebuyers in nearly half of the country need to earn at least six figures to be able to purchase a home.
Nationally, the typical household would need to earn $99,000 to buy a median-priced home of $415,500 in February, according to the most recent Realtor.com data. This also accounts for property taxes and insurance costs, and assumes a 10% down payment.
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So they were wrong the second time. Thanks.
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At the end of the day, the people who cannot afford a home are not going to be overly concerned with rasslin' over the statistical weeds...
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@George-K said in Bidenomics:
Another "revision."
That is probably a good thing. Means that the economy is not growing so fast, which is what the Central Bank is looking for.
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https://www.washingtonpost.com/business/2024/07/25/gdp-q2-economy/
The U.S. economy grew at a surprisingly robust 2.8 percent annualized rate in the second quarter, capping two years of solid expansion, despite some signs of softening.
Gross domestic product for the quarter ending in June was double the 1.4 percent reading in the previous quarter, but reflects a general cool-down from last year’s brisk pace, according to Commerce Department data released Thursday morning.
“Economic growth is solid, not too hot and not too cold,” said Chris Rupkey, chief economist at Fwdbonds, a financial research firm. “The soft patch we had at the beginning of the year has gone away and with it, the risks of a recession are dying on the vine.”
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I will await the revised figures...