HomeFairfax General ForumArrest/Ticket SearchWiki newPictures/VideosChatArticlesLinksAbout
Fairfax County General :  Fairfax Underground fairfax underground logo
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Pages: Previous123All
Current Page: 3 of 3
Re: Turn Out The Lights, The Party's Over
Posted by: Every Bad Event Since 1976 ()
Date: January 14, 2022 07:51PM

Can be traced directly to Democrats

In today's world , in the last 20 years when has the national Democrats done anything but create a bad US economy which also effects the whole worlds markets

You know who never to vote for if you want to see a good US economy and watch your investments grow for your families future and your solvent retirement

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Well... ()
Date: January 15, 2022 01:47AM

Given the fact Bush 43 was a RINO thats pretty much true , do I feel safer today after all those young Americans died in the middle east

NO its the people here who will actually kill you after a robbery beatdown or rape or just for kicks and most of them are Democrats

But Bush and Dick Cheney did give Saddam a good ass kicking and thats what we needed to see as a partial payback for 911 but a RINO is only half Democrat and Half Republican. Cheany may be 3/4 Republican and the rest he got from his daughter the Democrat in disguise as a Republican hes getting old can you blame him we all slip a little

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Ya.. WE All Slip a Little ()
Date: January 15, 2022 01:51AM

But JOE has slipped a lot! That cheese will not stay on his cracker anymore, you know he is pushing 80 , we have to be kinder to the elderly

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheRealTruth ()
Date: January 21, 2022 10:20AM

Inflation is here to stay, especially with the increase in minimum wage. The wage increase isn't just for the burger flipper. Wage increase starts at the farm where they hire people to work, then for the people who package, then the shipping company, the drivers, marketing and accounting people for the fast food company, and the list goes on and on. This wage increase is across all industries.

Businesses pass on the costs to you. You pay the inflation tax when you buy things. And when you don't buy things, people will be laid off. Then production goes down and goods become scarce and their prices go up again.

Get ready for more bad news. When interest rates go up under Joe Biden and Kamala Harris, things will come to a stand still. The housing market (nationally) will slow to a crawl, businesses will slow down, and you will then be dealing with layoffs. 2022 is, unfortunately, going to be a tough year. And this is not taking into account that there will be at least one more covid variant fucking with the economy.

Stock up on canned goods.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 2022Doom ()
Date: January 24, 2022 12:15PM

I warned you...now possibly 7 interest rate hikes....ouch

Reported today:

US stocks tumbled again Monday, with the S&P 500 falling as much as 3% to enter a correction as investors braced for the Federal Reserve to sharply tighten monetary policy to tame hot inflation, while major tech companies report earnings this week.

The S&P 500 during Monday's session marked an 11% decline from its all-time high of 4818.62 logged just two weeks ago on January 4. Six of its 11 sectors were down by more than 2%, led by the energy group as oil prices slumped.

The Dow Jones Industrial Average was close to a correction, down by 9.4% from its all-time high of 36,952.65 notched on January 5. The Nasdaq Composite entered into a correction last week with its drop of more than 10% from a recent high.

This Wednesday, the Fed will release its first policy decision of the year. And with inflation near 40-year highs, the central bank is set to ramp up interest rates soon and draw back further on its emergency, monetary response to the pandemic.

Traders expect the Fed to increase rates four times this year, starting in March with a 25-basis-point increase. But some analysts believe policymakers could move even more quickly. Goldman Sachs economists said the Fed may hike rates at every meeting from March — or seven increases in total.
-----------------

Good luck everyone. Be prepared for a 2022 economic disaster thanks to Joe Biden and Kamala Harris intentionally ignoring the inflation issue leading to you paying the inflation tax and setting up the US economy for a disastrous 2022 crash.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: OhFuuudge ()
Date: February 09, 2022 02:13PM

Get ready for more bad news. The new insulation report will be released on Thursday but here is the prediction according to analysts.

The latest US inflation report will be released on Thursday at 13:30 GMT. Forecasts suggest inflationary pressures continued to heat up, pushing the yearly CPI rate to its highest level in four decades. Markets are already pricing in more than five Fed rate hikes this year and a hot inflation print can add more fuel to those bets.

Money markets are currently pricing in five rate increases for this year and have started to entertain the idea of a sixth.

In fact, incoming data has been so strong that traders now assign a 36% probability for a ‘double’ hike of 50 basis points at the March meeting amid speculation that the Fed may need to resort to more drastic measures.

In January, the yearly CPI rate is expected to have risen to 7.3%, from 7.0% previously. Similarly, the core rate that strips out volatile items like energy and food is seen at 5.9%, up from 5.5% in December.

—————-

Slow Joe Biden and Kamala Harris…ignored the financial crisis and you’re paying the inflation tax.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: When Fried Chicken Goes Way Up ()
Date: February 09, 2022 10:34PM

There will all hell to pay

I just saw a pack of wings 22 dollars that were 8 tops when Trump was in

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: So Will Joe Push For 6 Trillion ()
Date: February 09, 2022 10:38PM

From Red China to give all those on welfare a COLA that actually will be keeping up with inflation , if not robberies will skyrocket, the money for hot wings skrimp lobster steaks and hoes has got to come from somewhere

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Hoe ()
Date: February 09, 2022 10:42PM

Thanks for looking out for me I need my Joe inflation raise too, everyone does

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Hgdyj ()
Date: February 10, 2022 03:30PM

Hoe Wrote:
-------------------------------------------------------
> Thanks for looking out for me I need my Joe
> inflation raise too, everyone does

The problem with the rate of increase in pay is that it is not keeping up with the rate of inflation. You may be an exception but an exception does not define the rule.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Wowsa ()
Date: February 10, 2022 03:31PM

Reported today:

Feb 10 (Reuters) - Wall Street sank on Thursday after U.S. consumer prices data came in hotter than expected, and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation.

U.S. Labor Department data showed consumer prices surged 7.5% last month on a year-over-year basis, topping economists' estimates of 7.3% and marking the biggest annual increase in inflation in 40 years.

————-

I hope you people are stocking up on canned goods. It’s only going to get worse. And when the Fed raises rates in March, get ready for a recession.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Khfrhncd ()
Date: February 23, 2022 10:32PM

OK boys and girls, get ready for a rough 2022. Everything that has been predicted as a worst case scenario is now a reality. Gasoline prices are through the roof and inflation is an all time high. Next month, there’s a 50% chance that there will be a half point fed rate increase and guaranteed to be a quarter point fed rate increase. This will be one of four fed rate increases for the year. Companies will have to lay people off because they cannot afford to keep people. People are an investment and when money becomes more expensive, companies don’t invest as much. In addition to all of this, companies also will have to lay off because they don’t have any products to sell and the products that they do have are too pricey. The final issue is the price of gas. Companies rely on shipping to get their products and of course the cost of business is also determined by what companies have to pay to get products delivered to them. When the Fed rate increases, the economy is going to tank. As was suggested earlier in this thread, you should probably start stocking up on canned goods and dried noodles lol. This is all because Joe Biden and Kamala Harris decided to ignore all of the analysts and recommendations last year to increase the Fed rate before inflation got out of hand.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheScene ()
Date: February 24, 2022 04:11PM

It looks like the fed interest hike in March is going to be a quarter point but they said unfortunately it looks like a recession will be very very difficult to avoid. The change was because of the Russian invasion of Ukraine which has driven inflation even higher on energy. I don’t know if you’ve looked at the price of gas lately but it’s pretty steep. The already costly inflation added to a quarter point increase in the fed rate will most likely add to a recession. If you haven’t already, you may want to start stocking up on the basics. I went to Wegmans this morning and things are a little scarce.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: February 24, 2022 04:19PM

There is a recession indicator called the inverted yield curve. Do a search on Google news for inverted yield curve recession and you will see that the people in the know actually understand that a recession is very likely. The inverted yield curve has predicted at nearly 100% accuracy every recession. Things are not looking good.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: We’re Fuqd ()
Date: February 26, 2022 10:52AM

Reported yesterday:

The personal consumption expenditures price index rose at a 6.1% annual rate through January, its highest since 1982 and more than triple the 2% inflation rate the Fed has set as its target for the U.S. economy. read more

That measure of annual inflation, reported monthly by the government, has been as higher or higher than in the prior month for 14 straight months - a run not seen since the 1970s and a blow to arguments commonly heard at the Fed last year that rising prices would prove "transitory" and disappear as the economy reopened.
—————————-

As pointed out previously, our economy is a complete disaster. There is no fix beyond raising interest rates. When the Fed starts raising interest rates, the economy is going to tank even further and it will also put extreme pressure on the federal government repaying the debt. This is going to be nearly impossible when we are in a recession. 2022 is not a good year thanks to Joe Biden and Kamala Harris and the damage that they did by ignoring a serious problem that all the atlas told them was coming.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: LightsOut ()
Date: March 10, 2022 09:03AM

Remember, these numbers are BEFORE the Russian invasion on Ukraine

Just reported:

US Inflation Sets a Fresh 40-Year High Over Past Year: 7.9%

Labor Department reflected the 12 months ending in February and didn’t include most of the oil and gas price increases that followed Russia’s invasion of Ukraine on Feb. 24. Since then, average gas prices nationally have jumped about 62 cents a gallon to $4.32

Even before the war further accelerated price increases, U.S. consumer inflation rose to its highest level in four decades. What’s more, housing costs, which make up about a third of the government’s consumer price index, have risen sharply, a trend that’s unlikely to reverse anytime soon.

These number won't reflect the oil and gas spikes of the past week, which will likely catapult prices even higher in coming months.

Federal Reserve is set to raise interest rates several times this year beginning with a modest hike next week. The Fed faces a delicate challenge, though: If it tightens credit too aggressively this year, it risks undercutting the economy and perhaps triggering a recession.
-----------------------------------------------

Did you people load up on canned goods yet? Joe Biden and Kamala Harris have done everything they can to screw the people of the United States. They shut the pipeline, made policy so unfavorable to oil companies that the companies have no incentive to drill for oil, and then Joe and Kamala thought it would be a good idea to cut off oil from Russia and instead try to get oil from Iran and Venezuela (who are just as bad as Russia). The Saudis have told Biden to pound sand lol.

When the fed starts raising rates next week, the current crisis will look like Disneyland. You have been warned.

Have a great day everyone. Save your pennies, not that they are worth anything now. But maybe they will taste good when you cannot afford a loaf of bread.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: LightsOut ()
Date: March 10, 2022 09:11AM

LightsOut Wrote:
-------------------------------------------------------
> Remember, these numbers are BEFORE the Russian
> invasion on Ukraine
>
> Just reported:
>
> US Inflation Sets a Fresh 40-Year High Over Past
> Year: 7.9%
>
> Labor Department reflected the 12 months ending in
> February and didn’t include most of the oil and
> gas price increases that followed Russia’s
> invasion of Ukraine on Feb. 24. Since then,
> average gas prices nationally have jumped about 62
> cents a gallon to $4.32
>
> Even before the war further accelerated price
> increases, U.S. consumer inflation rose to its
> highest level in four decades. What’s more,
> housing costs, which make up about a third of the
> government’s consumer price index, have risen
> sharply, a trend that’s unlikely to reverse
> anytime soon.
>
> These number won't reflect the oil and gas spikes
> of the past week, which will likely catapult
> prices even higher in coming months.
>
> Federal Reserve is set to raise interest rates
> several times this year beginning with a modest
> hike next week. The Fed faces a delicate
> challenge, though: If it tightens credit too
> aggressively this year, it risks undercutting the
> economy and perhaps triggering a recession.
> -----------------------------------------------
>
> Did you people load up on canned goods yet? Joe
> Biden and Kamala Harris have done everything they
> can to screw the people of the United States. They
> shut the pipeline, made policy so unfavorable to
> oil companies that the companies have no incentive
> to drill for oil, and then Joe and Kamala thought
> it would be a good idea to cut off oil from Russia
> and instead try to get oil from Iran and Venezuela
> (who are just as bad as Russia). The Saudis have
> told Biden to pound sand lol.
>
> When the fed starts raising rates next week, the
> current crisis will look like Disneyland. You have
> been warned.
>
> Have a great day everyone. Save your pennies, not
> that they are worth anything now. But maybe they
> will taste good when you cannot afford a loaf of
> bread.


One additional warning...

If you rent an apartment, get ready for sticker shock with your upcoming renewal. Plan on a 25-30% increase on your renewal rate. Yes, that is not an exaggeration. My friend rents an apartment and he just got a 30% increase on his renewal. When he discussed with the management office, they said increase is due to inflation as well as the money that real estate investment companies could not collect from people during covid.

Have a great day!!

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: SettingRecords ()
Date: March 15, 2022 03:24PM

Reported today:

Wholesale Prices Soar 10% In February, Highest Level On Record

Wholesale prices soared again last month to their highest level on record as inflation continues to spiral out of control. The Labor Department on Tuesday said the producer price index, which measures inflation at a wholesale level before products are sold to consumers, rose 10% in February from a year ago.

Meanwhile, (employee/worker) earnings fell again, according to the bureau’s data. “Real inflation-adjusted average hourly earnings for the month fell 0.8% in February, contributing to a 2.6% decline over the past year, according to the BLS. That came even though headline earnings rose 5.1% from a year ago, but were outweighed by the price surge,” CNBC reported.

--------------------------

Stock up. This is going to be a long bumpy ride. Joe Biden and Kamala Harris will continue to assume you are an idiot while they blame Russia for the current disaster that's been building for more than a year.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: ItsON ()
Date: March 17, 2022 02:13PM

Today:

Higher prices of gas, groceries, new cars and mortgage rates got you down? Americans may have to get used to it. The rate of inflation might not return to pre-pandemic levels of less than 2% for at least another three years.

That’s the blunt message the Federal Reserve delivered on Wednesday. For the first time since 2007, the central bank predicted inflation would end the year above 3% — in fact, well above that level.

The Fed estimated the rate of U.S. inflation, using its favorite PCE price index, would average a whopping 4.3% in 2022.

That’s up from the bank’s 2.6% estimate four months ago and just 1.9% a year earlier. These are earthquake-like alterations for a conservative central bank that rarely make big changes in its forecasts.

Another note:

By itself, a quarter-percentage-point increase will not make a big difference to a credit card’s annual percentage rate (APR) or a savings account’s annual percentage yield (APY), experts say. But stack several rate increases together and consumers will start to feel the pinch, they note.

Markets are expecting six, quarter-point increases this year. (On Wednesday, St. Louis Fed President James Bullard argued for a 50 basis-point increase in a dissent.)
------------------------------

As noted, the Fed acknowledged that they brushed off the problem. They = Joe Biden and Kamala Harris. The fed does nothing without input from or briefing to the executive office.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: fdsgbjugce ()
Date: March 20, 2022 05:12PM

Facts bump

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: LookOut ()
Date: March 25, 2022 02:26PM

Reported today:

Inflation predicted to be 8.6% in April's report (up from 7.9% in report a few weeks ago). Also reported, next fed rate hike will be a half point and followed by a few more half point hikes this year.
-----------------------------

Joe Biden and Kamala Harris did too little too late after ignoring analysts and allowing inflation to skyrocket. Inflation was fueled by supply and demand, but was driven by handing out trillions of dollars in "free" money and devaluing the dollar.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: LookOut ()
Date: April 06, 2022 02:50PM

LookOut Wrote:
-------------------------------------------------------
> Reported today:
>
> Inflation predicted to be 8.6% in April's report
> (up from 7.9% in report a few weeks ago). Also
> reported, next fed rate hike will be a half point
> and followed by a few more half point hikes this
> year.
> -----------------------------
>
> Joe Biden and Kamala Harris did too little too
> late after ignoring analysts and allowing
> inflation to skyrocket. Inflation was fueled by
> supply and demand, but was driven by handing out
> trillions of dollars in "free" money and devaluing
> the dollar.

The fed meeting minutes were just released and the fed is going to get more aggressive. Be ready for an aggressive rate increase. The government is already projected to go from zero to 3.5% by summer next year. The only way they can do that is with aggressive rate increases. This will lead to a recession. This will also lead to higher rates on your credit cards and any other adjustable rate loans. You are about to get recession tax-fucked even worse by Joe Biden and Kamala Harris.

Also released today: New polling reveals 81% of adult Americans think the economy will likely experience a recession this year. David Tinsley, a senior economist at the new Bank of America Institute, joins CBS News' Tanya Rivero and Meg Oliver to discuss the state of the economy.

Also released today:

Deutsche Bank Joins Predictions of Coming Recession – Experts can’t agree when a recession will hit the U.S. economy – but they do seem to agree that a recession is coming. After Former Federal Reserve Governor Lawrence Lindsey warned on Monday that rising inflation will slash consumer spending and trigger a recession by July, Deutsche Bank issued its own forecast for a similar crisis.
---------------------

Joe Biden and Kamala Harris...wow. Way to ignore the experts and screw over the people of the United States.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: HolyCrapola ()
Date: April 07, 2022 05:14PM

LookOut Wrote:
-------------------------------------------------------
> LookOut Wrote:
> --------------------------------------------------

> This will lead to
> a recession. This will also lead to higher rates
> on your credit cards and any other adjustable rate
> loans. You are about to get recession tax-fucked
> even worse by Joe Biden and Kamala Harris.


Reported today:

The numbers: Total consumer credit increased $41.8 billion in February, up sharply from a rise of $8.9 billion in the prior month, the Federal Reserve said Thursday. That translates into an 11.3% annual rate in February, up from a 2.4% gain in the prior month. This is the highest rate since November 2001.

Key data: Revolving credit, like credit cards, rose at a 20.7% rate in February after 4% gain in the prior month.
--------------

This is a recipe for disaster when the fed raises rates and (lower income) people start defaulting on their credit cards.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Tuesday ()
Date: April 11, 2022 11:52AM

Reported today:

Get ready for a nasty inflation report

A new inflation reading is due out Tuesday (tomorrow) morning, and it looks to be a doozy. The Consumer Price Index for March will reflect the surge, which is likely to push the headline number to yet another multi-decade high.

Analysts surveyed expect the release to show 8.4% inflation over the last year, which would be the highest overall inflation rate since December 1981. The rate was 7.9% for the year ended in February. Excluding food and energy, the forecast is for 6.6% inflation, which would be the highest since August 1982.

Fed has signaled a potential half point rate increase at their next meeting.

------------------------

Hurricane Biden Harris continues to destroy the lower and middle class.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: HolySheet ()
Date: April 12, 2022 03:45PM

Hello boys and girls. It's a bit of a read, but welcome to another disastrous Fed report that was released this morning:

Prices climbed 8.5% in March compared to last year amid growing fears of economic slowdown.The administration has tried to rebrand the recent spike of inflation as a “Putin Price Hike.” But that rhetoric does not seem to have lifted Biden’s approval rating on the economy ahead of the 2022 midterms.

The food index rose 1 percent in March compared to February. It is up 8.8 percent compared to the prior 12 months, the largest increase since May 1981. Few categories have been left untouched. Breakfast cereal was up 2.4 percent from February to March. Rice prices rose 3.2 percent, ground beef grew 2.1 percent, and eggs were up 1.9 percent. Milk was up 1.3 percent, potatoes 3.2 percent, and canned fruits and vegetables tacked on 3.8 percent. Rents were up 4.4 percent compared to the year before, and 0.4 percent in March compared to February alone.

Persistently high inflation comes as economists and analysts increasingly fear a looming economic slowdown. In March, Bank of America analysts lowered their estimates for growth in 2022 from 3.6 percent to 3.3 percent. The Federal Reserve also recently downgraded its GDP forecasts.

In order to try and arrest the growth of inflation, the Fed in mid-March launched its first rate hike since the pandemic began and penciled in six more for later this year. In the past few weeks, officials have signaled that even more aggressive hikes could come in the next few months. “The expectation going into this year was that we would basically see inflation peaking in the first quarter, then maybe leveling out,” Fed Chair Jerome H. Powell said in March. “That story has already fallen apart. To the extent that it continues to fall apart, my colleagues and I may well reach the conclusion that we’ll need to move more quickly.”
------------------------

You're already paying the Biden Harris Inflation Tax. Are you ready for the "Biden Harris Recession"? It's coming.
.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Wed_Nes_Day ()
Date: April 13, 2022 06:41PM

Reported today:

New York (CNN Business) The Producer Price Index is the latest data point showing the price pressure.
The index, which measures what America's producers get paid for their goods and services on average over time, rose 11.2% in the year ended in March, the Bureau of Labor Statistics reported Wednesday.
It was the biggest jump in prices since the data series began in November 2010, exceeding analysts' expectations and the double-digit jumps recorded in the first two months of the year.
--------------------------

Biden Harris destruction of the United States continues. In simple terms...the more you pay workers, the more products and services cost the consumer. Yeah, I know that sounds almost stupid to have to explain that to you. But, there are people who argue making the national minimum wage $15/hr won't have an effect. Yes, it will. Pay people more, operating expenses go up (along with taxes that corporations pass through to the consumer), and companies have to charge more for goods and services in order to make a profit.

It's amazing how truly stupid the Biden Harris team is.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: April2022News ()
Date: April 29, 2022 12:20PM

Reported today:

Key U.S. inflation gauge jumped 6.6% in March — most since 1982

An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy.

Biden has pointed to a strong job market and solid consumer spending as evidence that his policies have helped Americans.

But that view absorbed a setback Thursday, when the government reported that the economy shrank in the first three months of this year at a 1.4% annual rate. That was the first contraction since the coronavirus-driven recession that took hold in the second quarter of 2020.
--------------------

Next week, we will get the inflation numbers for April. Be ready for bad news, to include greater chance for a Biden / Harris recession.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: ItsTheRussians ()
Date: April 30, 2022 04:35PM

Reported on CNN today:

New York (CNN Business)

Total compensation costs for civilian workers declined 3.7% over the past 12 months ending in March, after accounting for inflation, according to the Employment Cost Index report published Friday.
It's the largest decline since the Bureau of Labor Statistics began inflation-adjusted records in 2001.

The inflation-adjusted cost of wages and salaries fell 3.6%, while benefit costs dropped 4.2%, both the largest decreases since the series started 21 years ago.
"For workers, this is bad news," Jason Furman, an economics professor at Harvard University and former chair of the Council of Economic Advisers in the Obama administration, said of the inflation-adjusted data. "Wages are falling very rapidly over the last year and are way below where they were two years ago."

The latest compensation report will likely keep the Fed in a pretty hawkish mood, said Kathy Bostjancic, chief US economist at Oxford Economics. She expects the central bank to raise rates by another 50 basis points at EACH of its May AND June policy meetings.
-----------------------------------

Come on Joe Biden. I'm sure you can come up with another lie after you've blamed the Russian war that didn't start until the end of Feb 2022. Joe Biden and Kamala Harris are disasters. Sure, we don't have to endure a few mean Tweets, but now we are paying the Biden/Harris incompetence tax.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: DayBeforeTomorrow ()
Date: May 03, 2022 02:10PM

Get ready, it's about to get really bad....

With concerns growing over an inevitable recession due later this year, the Federal Reserve plans to raise interest rates at its fastest clip in three decades, the Associated Press reported on Monday.

The maneuver, which will make it costlier to borrow everything, from a line of credit to a mortgage on a home, will also further strain Americans' pocketbooks and likely weaken the economy. But it is considered the only way to potentially stave off the even harsher economic consequences of a wider recession.

Economists predict the first rate hike will hit Wednesday, following a rate-setting meeting where the central bank is expected to announce that it's raising its benchmark short-term interest rate by a half-percent — the sharpest rate hike since 2000.

For months, the president and his Federal Reserve officials assuaged fears over soaring inflation by claiming the crisis was only “transitory” and failing to take steps to reverse the trend.

"We lost a whole year on addressing the issue. Only because, frankly, we have leadership today in America that isn't willing to admit when they're wrong. They made a terrible blunder here, and now the price has got to be paid."

That price would be jacked-up interest rates at the same levels as inflation or higher — meaning above 8.5% — as the only potential way to achieve a “soft landing.”

It seems the Fed now agrees with this assessment. Though even with an interest rate hike plan, many fear a recession is still unavoidable.

“A recession at this stage is almost inevitable,” former Fed vice chair Roger Ferguson told CNBC on Monday. “It’s a witch’s brew, and the probability of a recession I think is unfortunately very, very high because their tool is crude and all they can control is aggregate demand.”
-----------------------------------------------

Buy your canned goods now. Tomorrow will start the real panic. Also, make sure you have at least a month's income in cash. Really, you should have 6 months as an emergency fund. Credit cards don't count. If you use those, your interest rate is about to go up, so you'll be doubly-fucked.

But, hey, Joe Biden and Kamala Harris say everything is going great. It is, for them.

Good luck.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 39MinutesAway ()
Date: May 04, 2022 01:36PM

Article just posted to tell you about the trouble Americans (and businesses) are about to encounter...get ready, it's going to start to get even worse:

"Your credit card debt is going to get more expensive in a hurry, and it's not going to stop anytime soon," Schulz said in an email.

Expect to see higher APRs in a billing cycle or two after the Fed's announcement, he added. After the Fed's March hike, interest rates for credit cards increased across 75% of the 200 cards that Schulz reviews every month, he said.

"Most Americans' financial margin for error is small, and when gas, groceries and seemingly everything else gets more expensive and interest rates go up, too, it makes it much harder," he wrote.

Other types of credit with adjustable rates may also see an impact, such as home equity lines of credit and adjustable-rate mortgages, which are based on the prime rate. Auto loans may also rise, although these can be more sensitive to competition for buyers.

Homebuyers have already been walloped by surging mortgage rates, which have jumped about two percentage points in one year, topping 5%.That's adding thousands to the annual cost of buying a home. For instance, a purchaser buying a $250,000 home with a 30-year fixed loan at last week's average rate of 5.3% will pay $3,300 a year more compared to what they would have paid with the same mortgage in April 2021, according to figures from the National Association of Realtors.
-----------------------

Remember when Joe Biden and Kamala Harris said the poor and middle class wouldn't pay more taxes (ie only $450k and above would get an increase)? Well, you ARE paying the Biden Harris tax because they ignored a growing problem. But I am relieved that they are rich and doing just fine.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: GetReady ()
Date: May 04, 2022 02:25PM

Just reported:

WASHINGTON, May 4 (Reuters) - The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and said it would begin trimming its bond holdings next month as a further step in the battle to lower inflation.
-----------------------

Get ready for more inflation due to higher interest rates paid by businesses. This will be followed by a recession and layoffs because people stop spending in an effort to pay their most important bills and higher interest on credit cards.

The remainder of this year is not going to be good. I hope you stocked up heavily on canned goods and vacuum-packed meat.

Joe Biden and Kamala Harris will continue to live a prosperous life while telling us everything will be alright.
.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: MoreBadNews ()
Date: May 05, 2022 09:47AM

News just got worse...reported today:

The numbers: The productivity of American workers and businesses sank at an 7.5% annual pace in the first quarter — the biggest drop since 1947.

The amount of goods and services produced, known as output, fell at a 2.4% rate in the first three months of the year. Yet hours worked rose at a 5.5% annual rate, the government said Thursday.

Unit-labor costs surged at 11.6% annual pace in the first quarter. Over the past year these costs have risen at the fastest clip in 40 years.

Yet adjusted for inflation compensation fell 5.5%, showing that rising prices are hurting breadwinners. Wages aren’t keeping up with inflation.
........................

Stock market tanked this morning after the news release. Have a nice day lol

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: kjwgefwej ()
Date: May 05, 2022 01:35PM

MoreBadNews Wrote:
-------------------------------------------------------

> Stock market tanked this morning after the news
> release. Have a nice day lol

"tanked" is an understatement

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheDayBeforeTomorrow ()
Date: May 10, 2022 03:58PM

Get ready for tomorrow's inflation report. ;)

In the meantime, reported today:

New York (CNN Business)In another blow to the US economy, prices at the pump soared to fresh record highs.
The national average price for regular gasoline climbed more than four cents on Tuesday to $4.37 a gallon, according to AAA. That takes out the prior record of $4.33 set on March 11.
The gas spike — prices are up 17 cents in the past week alone — will only add to inflationary pressures that have raised recession fears, rocked financial markets and soured Americans' views on the economy.

CNBC: Consumer debt and credit rose 1.7% in the first quarter to $15.84 trillion. The rise in total household credit was propelled largely by a $250 billion increase in mortgage debt, which now stands at $11.18 trillion, an increase of 10% from the first quarter in 2021.

Credit card balances are at $71 billion, or about 9% higher than they were for the same period a year ago.

-------------------------------

Are you ready for the Joe Biden Kamala Harris recession and bubble burst? They set the stage perfectly for it.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: AprilReport ()
Date: May 11, 2022 09:49AM

April inflation report is out. It's not as bad, but still high.

Inflation barreled ahead at 8.3% in April from a year ago, remaining near 40-year highs

New York (CNN Business)US inflation took a breather last month for the first time since August. Prices still increased, but at a slower pace than in previous months.

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.

The Consumer Price Index was up 8.3% (was predicted to be 8.1%) in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday, slightly higher than economists had predicted. It was a decrease from the 8.5% recorded in March.

Shelter costs, which comprise about one-third of the CPI, rose at their fastest pace since 1991.

Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living.

April report showed that “this is another upward inflation surprise and suggests that the deceleration is going to be painstakingly slow.”

Federal Reserve officials have responded to the problem with two interest rate hikes so far this year and pledges of more until inflation comes down to the central bank’s 2% goal. However, Wednesday’s data shows that the Fed has a big job ahead.
---------------------

I told you before, this Biden Harris incompetence tax is going to be a long painful ordeal.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Additionally ()
Date: May 11, 2022 01:56PM

Adding to the news:

The disappointing consumer price inflation report for April keeps the focus squarely on the Federal Reserve and its plans for bringing inflation down.

A slew of Fed officials have spoken this week. Here are some of the major themes that have emerged with the next policy meeting only a little over a month away:
We’re going to move by 50 basis points in June and July. Next question.

At his news conference on May 4, Fed Chairman Jerome Powell said “there’s a broad sense on the committee that additional 50 basis increases should
be on the table for the next couple of meetings.” The Fed speakers this week have all embraced this plan.
---------------------------

2 more half-point increases coming up. Adjustable rate mortgages, credit cards, etc will see another rate increase. Businesses will stop investing. The housing and mortgage industries will come to a screeching halt. You will see unemployment bump up, and this may include you. Small businesses (making up almost half of the economy) will be bent over. But Joe Biden and Kamala Harris will continue to dine in luxury while telling you that they care about you and that it's not their fault. Come on Joe, lie to us!!!

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: MemorialDayReport ()
Date: May 27, 2022 10:54AM

More bad news (though not as bad lol):

The personal consumption expenditures price index, which measures costs that consumers pay for a variety of different items, showed that core prices – which exclude the more volatile measurements of food and energy – soared 4.9% in the year through April, according to the Bureau of Economic Analysis.

That measurement is the Fed's preferred gauge to track inflation; it marks the 13th consecutive month the gauge has been above the central bank's target range of 2%. Still, it was slightly below March's measurement of 5.2%, and is down from the 39-year high of 5.3% that was recorded in February.

The data is further evidence of a spike in prices illustrated by a separate measure – the consumer price index – which showed inflation rose by 8.3% in April from the previous year, which is also near a 40-year high.

Due to inflation, the consumer savings rate fell to 4.4% last month, the lowest level since 2008.
---------------------------

Not as bad as it could have been, but still bad nonetheless.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: MoneyPrepper ()
Date: June 06, 2022 03:13PM

Get ready for another bad report June 14. Apparently, they are predicting another high CPI number and of course another half point increase in the Fed rate. Also reported, the price of gas is now nearly 2x what it was before Sleepy Joe took over and diesel (used in trucks etc to ship just about everything you buy) is priced through the roof. It's ok. At least we don't have to get hurt feelings from those mean tweets anymore.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheDoomIsHere ()
Date: June 08, 2022 02:17PM

Reported today:

The MBA’s purchase index, a measure of the volume of applications for mortgages to buy homes, dropped 7% compared the previous week and was down 21% compared to the same week one year ago.

Refinance applications also moved lower, dropping 6% compared to last week and a whopping 75% year-over-year.

Also:

Adjusting for an official inflation rate of 8.3% and producer price index of 11% real wage growth is negative. This has resulted in a drop in the personal savings rate to 4.4%, the lowest since 2008.

For Q1 2022, Walmart's revenues increased 2.3% YoY while Target increased 4%. These are well below the inflation rate of 8-9%, indicating negative real revenue growth. Both retailers have also reported substantial increases in inventory, suggesting a slowing in sales volume.

Data from RetailDive found that 34% of small retail businesses could not pay their rent in April.

Research from J.D. Power foretasted a DROP in new car sales in May of 20.9%

The ADP non-farm small business payrolls MoM change was -91.46 thousand last month. This decline last occurred during each of the previous two recessions. This is telling as small businesses tend to identify changes in economic conditions first.

Two common precursors to recession are a rising oil price and yield curve inversion. Both conditions have taken place and are signaling with great probability that a recession follows.


----------------------------

Housing/real estate and mortgage industries will soon start the layoffs. Recession has already started, despite what Joe Biden and Kamala Harris tell you. They ignored the problem early on and you are paying for it now. The rest of the year and well into next year are going to be painful with layoffs and a significant recession. I'm not talking out of my ass. Prepare yourselves.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: ByTheNumbers ()
Date: June 10, 2022 08:47AM

The numbers are out this morning, and it ain't pretty. It's actually WORSE than they thought.

The numbers: The cost of living jumped 1% in May on the back of higher rents, gas and food prices, keeping the rate of U.S. inflation at a 40-year high.

The increase in the consumer price index in May was more than TRIPLE the gain in the prior month. Economists polled by The Wall Street Journal had forecast a 0.7% advance.

The increase in inflation over the past year moved up to 8.6% from 8.3%. a new cycle high. The last time inflation rose as rapidly was in 1981.

Stock market futures are reacting accordingly.
-------------------------------

The Joe Biden Kamala Harris inflation tax continues to kill the middle and lower class.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: HolyFuuuuuuQQ ()
Date: June 10, 2022 11:28AM

Just reported:

The Federal Reserve will hike its benchmark interest rate by 75 basis points next week instead of the consensus 50 basis point move, due to the strong May consumer price index data that shows no sign that price pressures have peaked, said Jonathan Miller, senior U.S. economist.
----------------------------------------

Next stop: recession. Well, we're already in one actually. It just hasn't been officially announced. And I'm sure Joe Biden will try to downplay it to the public while he dines in luxury.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Implosion ()
Date: June 10, 2022 01:58PM

Reported yesterday:

Janet Yellen Rejects Idea Corporate Greed Is to Blame for Inflation

(Despite the message from Joe Biden and Nancy Pelosi) Treasury Secretary Janet Yellen rejected the idea that corporate greed is causing the US inflation surge, differing with fellow Democrats who have accused big businesses of price gouging.

But then she says this...

The United States is unlikely to suffer an economic downturn, despite sky-high inflation, US Treasury Secretary Janet Yellen said Thursday.

"There's nothing to suggest that there's a recession in the works," she said during an interview at The New York Times' economic forum. But the swiftness of the Fed's planned moves has increased fears of a recession, generally defined as two consecutive quarters of negative growth. "Is there a recession risk? Of course there's a recession risk," the Treasury secretary said. "But is it likely? I don't think so."
-------------------------------

This whole administration is delusional.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: June14Report ()
Date: June 14, 2022 12:11PM

Reported today:

Associated Press, WASHINGTON — U.S. producer prices surged 10.8% in May from a year earlier, underscoring the ongoing threat to the economy from inflation that shows no sign of slowing.

The costs for rent, new and used cars, medical care, and clothing also rose, evidence that inflation is spreading more broadly through the economy. The figures indicate that rising prices will continue to erode Americans’ paychecks and wreak havoc on household budgets in the coming months.

The Federal Reserve is expected to hike its short-term interest rate by three-quarters of a point on Wednesday, the largest increase since 1994, as it ramps up its efforts to rein in higher prices.
--------------------------------------

The Biden/Harris "soft landing" looks to be more like jumping off a cliff without a parachute. Your variable interest mortgages and credit card interest rates are about to inflict even more pain.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: jsdbedvfehwj ()
Date: June 14, 2022 12:18PM

This is a really good point made today by one of the analysts...in other words, get ready for a more expensive life (permanently)

"It is too late for the Federal Reserve to control inflation, and that a return to 2 percent inflation will not happen "for the foreseeable future." He explained, "If [the Fed] gets inflation down from 8.5 to 5 or 4 percent… they'll declare victory at that point. Forget 2 percent."

Day spoke with Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, at the PDAC Convention in Toronto. He went on to forecast that the U.S. economy would undergo a period of stagflation.

Although Day claimed that Fed Chairman Jerome Powell would follow through with his tightening promises, he said that eventually Powell would buckle under pressure.

"If we see unemployment go up dramatically, this Fed and Powell will choose employment over inflation," Day remarked.

He added that the Fed's talk of 2 percent inflation within a few years is "fantasy."

"They simply cannot bring inflation down, to a reasonable level, without causing a recession," Day said. "The only thing that will prevent a recession at this point is the [Biden] administration and Congress doing more unfunded spending, more modern monetary theory, which the Fed will go along with, which means we're boosting inflation again."

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: MortgageRateExplosion ()
Date: June 14, 2022 04:54PM

Reported today on CNBC:

The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mortgage News Daily. The rate was 5.55% one week ago. Rising rates have caused a sharp turnaround in the housing market. Home sales have fallen for six straight months, according to the National Association of Realtors.

On a $400,000 home, with a 20% down payment, the monthly mortgage payment went from $1,399 at the start of January to $1,976 today, a difference of $577. That does not include homeowners insurance nor property taxes.
-------------------------

Your ability to buy a home just decreased. I wonder if Joe Biden and Kamala Harris are struggling to pay their mortgages.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Pedo Joe should resign ()
Date: June 14, 2022 06:34PM

MortgageRateExplosion Wrote:
-------------------------------------------------------
> Reported today on CNBC:
>
> The average rate on the popular 30-year fixed
> mortgage rose 10 basis points to 6.28% Tuesday,
> according to Mortgage News Daily. The rate was
> 5.55% one week ago. Rising rates have caused a
> sharp turnaround in the housing market. Home sales
> have fallen for six straight months, according to
> the National Association of Realtors.
>
> On a $400,000 home, with a 20% down payment, the
> monthly mortgage payment went from $1,399 at the
> start of January to $1,976 today, a difference of
> $577. That does not include homeowners insurance
> nor property taxes.
> -------------------------
>
> Your ability to buy a home just decreased. I
> wonder if Joe Biden and Kamala Harris are
> struggling to pay their mortgages.

I’m paying 2.625% for the next 28.5 years.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: BadNewsContinues ()
Date: June 15, 2022 03:01PM

Reported today:

The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday, its biggest move since 1994, as the central bank ramps up its efforts to tackle the fastest inflation in four decades.

The big rate increase, which markets had expected, underlined that Fed officials are serious about crushing price increases even if it comes at a cost to the economy.

They project raising it to 3.4% by year-end, implying another 175 basis points of tightening this year.

The central bankers also revised their outlook for the economy from the "soft-landing" scenario of March to a bumpier touch down.

Powell signaled that a half-point or three-quarter point increase is most likely in July, though he reiterated that officials will make their decision on a meeting-by-meeting basis.

FOMC cuts 2022 GDP outlook; raises jobless-rate estimate.
-----------------------------------

I hope you are keeping a zero balance on your credit cards. If you have an adjustable rate loan, get ready to bend over. If you're looking to buy a car or a home, think again. Layoffs have started. I hope you have a significant savings on-hand.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: iystwowgold ()
Date: June 16, 2022 07:54AM

How can you tell if gold is real?

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: MoreGloomSurfaces ()
Date: June 16, 2022 03:48PM

Prediction over the next few months:

Whatever the Fed does is very unlikely to change CPI in the next few months because Fed action will have a lag of 6 to 12 months. Whatever the Fed does is not massively going to change the market’s thinking in two to three months.

As of Thursday, data compiled by Bloomberg indicated that fixings traders expect the annual headline CPI rate to come in at 8.97% and 8.95%, respectively, for June and July — up from May’s 8.6% level. From there, year-over-year CPI is expected to hit 9.15% in August and 9.08% in September.

Traders of derivatives-like instruments related to Treasury inflation-protected securities, expect four straight months of annual headline consumer-price index readings at roughly 9% or higher from June through September. That would be the longest stretch of such elevated readings since 1981 — the same year that the Fed, led by Paul Volcker, was forced to push the fed-funds rate target to as high as 20%, according to FactSet data. The outlook for a roughly 9% September CPI rate has been in place since May’s CPI report was released last Friday.
------------------------------

Slow Joe Biden and his Fed really messed this one up. Get ready for a seriously bad economy. One of my colleagues just met on Capitol Hill to cover government contracts and she said the directive is to basically stop government solicitations after Feb 30 (end of the Federal fiscal year). If you're in government contracting (especially with small businesses with little to no contract vehicles), get ready for huge layoffs due to a stall in federal contracting.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Zak Morris ()
Date: June 17, 2022 06:52AM

Gold is a precious metal that has been used to manufacture jewelry, coins, and other beautiful goods for millennia. It is still a popular choice today, and it is frequently promoted as a secure investment. While establishing whether a piece of jewelry is made of gold is usually simple, determining whether a coin or other item is made of gold can be more complex. Fortunately, there are a few techniques for determining whether or not gold is genuine. Read more here https://iystwowgold.com/how-can-you-tell-if-gold-is-real/

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: June30Report ()
Date: June 30, 2022 08:17AM

Today's report:

U.S. economy shrank by 1.6 percent (first quarter) as Americans' disposable income, savings decreased

Disposable personal income decreased $58.8 billion (revised), or 1.3 percent

The PCE report results will be announced at 830am this morning. The market is currently down 371 points (futures) so my guess is the PCE report will be bad and indicate inflation is still red hot, and forcing the Fed to raise interest rates by another .75 points.

Hey Joe Biden and Kamala Harris, happy 4th of July holiday vacation as you dine in luxury while everyone else struggles.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: NewsRelease ()
Date: June 30, 2022 09:11AM

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April.

Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and people of color.

The government’s report also said that consumer spending rose at a sluggish 0.2% rate from April to May. Consumer spending is beginning to weaken in the face of high inflation.
-------------------

As Joe Biden rubs elbows with the other wealthy leaders in Europe, inflation didn't decrease and evidence shows people are having to cut back on spending. Get ready for another .75 point Fed rate increase. This will price you out of buying a home, cause further real estate layoffs, increase the interest payments on credit cards (especially for the poor), and put further pressure and worries on the average American.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: July6Report ()
Date: July 06, 2022 04:03PM

Just reported:

Bloomberg - Federal Reserve officials agreed last month that interest rates may need to keep rising for longer to prevent higher inflation from becoming entrenched, even if that slowed the US economy.

Policy makers backed raising rates at their next meeting in July by either 50 or 75 basis points, according to minutes of the Federal Open Market Committee’s June 14-15 policy meeting released Wednesday in Washington.

Officials hiked rates by 75 basis points in June, the most since 1994, lifting their benchmark to a target range of 1.5% to 1.75%, and Chair Jerome Powell suggested they could do the same thing again in July.

He told reporters at a post-meeting press conference that another 75 basis-point increase, or a 50 basis-point move, was most likely on the table when policy makers gather July 26-27.
------------------------------------

How's that Joe Biden credit card interest tax increase feeling? Get used to it. It's about to get worse. And, the rich people like Joe Biden will still be able to afford housing whereas you will struggle to make ends meet.


Also reported today:

Reuters - The Biden administration EXPORTED more than 5 million barrels of oil from its emergency reserves that were released.

Joe Biden sent the oil to Asia and Europe, which was taken from the Strategic Petroleum Reserve (SPR).

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Jully11Report ()
Date: July 11, 2022 12:30PM

Reported today:

Also coming down the pipe this week is a key Consumer Price Index (CPI) reading, due out Wednesday morning. Dow-polled economists expect the June CPI to rise 8.8% year-over-year, beating May’s yearly gain of 8.6%.

That might not seem like that much of a difference, but another jump to 8.8% means the CPI’s already parabolic move will only intensify.

That’s the Fed’s worst nightmare with a recession seemingly here already according to the Atlanta Fed’s latest Q2 GDP growth estimate (via GDPNow), which showed that US GDP contracted in Q2.
------------------------------

Likely more bad news coming Wednesday, but I'm sure Joe Biden will try to deflect blame to anything else (transitory, supply chain, Russia war that started well-after inflation started, etc) except his late action more than 18 months ago when analysts were trying to tell him about the coming storm if the administration continued to give away "free" money. Prepare for a .75 fed rate increase, more interest on your credit cards and variable rate loans, higher mortgage rates, higher auto loan rates, more layoffs because interest rates for investment are higher and the the cost of doing business is too high, etc.. Let's hope the economists are wrong.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: July12Report ()
Date: July 12, 2022 04:15PM

Reported today:

The Biden administration is already in damage control mode ahead of the newest inflation data out this week (being announced tomorrow 7/13), which is expected to show another jaw-dropping figure as the price of everyday goods soared higher.

The Labor Department is releasing the highly anticipated consumer price index report on Wednesday morning, which is expected to show that prices surged 8.8% in June from the previous year — toppling the previous 40-year high of 8.6% notched in May.
-------------------

Of course Joe Biden is saying today that the inflation number will be inaccurate. He's been lying about everything since he took office. In addition, he's flying to Saudi Arabia to beg for more oil all while telling us we should buy $60k electric vehicles because oil is evil. His attempt to save the mid-term elections is very clear. He hates oil unless it hurts him politically.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: GrabYourCankles ()
Date: July 13, 2022 09:26AM

Reported this morning:

Inflation surges 9.1% in June, accelerating more than expected to new 40-year high

The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 9.1% in June from a year ago. Prices jumped 1.3% in the one-month period from May. Those figures were both far higher than the 8.8% headline figure and 1% monthly gain forecast by economists.

Price increases were extensive, suggesting that inflation may not be near its peak: Energy prices rose 7.5% in June from the previous month, and are up 41.6% from last year. Gasoline, on average, costs 59.9% more than it did one year ago and 11.2% more than it did in May. The food index, meanwhile, climbed 1% in June, as consumers paid more for items like cereal, chicken, milk and fresh vegetables.
---------------------------------

Joe Biden has been seen walking around mumbling to himself "Russia Russia Russia, we need to make the idiot voters stop focusing on my administration's complete failure and instead believe it's Russia"

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: EatinRoadkill ()
Date: July 13, 2022 02:33PM

On July 27, be prepared for a .75 (three quarter) percent hike in the fed rate and there's a (right now) 67% chance for a full 1% fed rate increase from what the fed funds futures is saying.

Ole Sleepy Joe really fucked us by delaying action on his transitory inflation tax. It's not a brilliant conclusion to predict that he will continue to blame everyone outside of his administration.

Your adjustable rate loans and credit cards are about to become even more expensive. Wanna buy a car or a home? Too fucking bad, or just bend over and pay the additional Biden tax.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: InflationReporter ()
Date: July 14, 2022 08:42AM

More bad news released 10 min ago:

Wholesale inflation in June surged 11.3% from a year ago

WASHINGTON (AP) — Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy.

The Labor Department reported Thursday that the U.S. producer price index — which measures inflation before it hits consumers — rose at the fastest pace since hitting a record 11.6% in March.

Thursday’s report on wholesale prices came a day after the Labor Department reported that surging prices for gas, food and rent catapulted consumer inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve. Consumer prices soared 9.1% compared with a year earlier, the biggest yearly increase since 1981.
-----------------------------------

Doesn't feel transitory, does it? ;)

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: July28Reporter ()
Date: July 28, 2022 11:01AM

Well, yesterday was no surprise. The Fed raised interest rate another 75 basis points (three quarter point interest rate increase). Your credit card interest accumulation just got worse. If you want a mortgage, good luck (unless you are wealthy). But who in their right mind would buy a house right now? The real estate market is tanking and in a recession.

Speaking of "recession".....

The U.S. economy shrank at a annual 0.9% pace in the second quarter to mark the second decline in a row, intensifying a debate over whether the U.S has already sunk into a recession.

Gross domestic product, the scorecard of sorts for the economy, had shrunk at a 1.6% pace in the first three months of the year.

Economists polled by The Wall Street Journal forecast a 0.3% increase in second-quarter GDP. All figures are adjusted for inflation.

The back-to-back declines in GDP were the first since the 2007-2009 Great Recession.

A sharp drop in business investment and declining inventory levels largely accounted for the negative GDP print in the second quarter. Government spending also fell sharply.

While two straight quarters of declining GDP has been commonly viewed as a recession, the group of prominent economists responsible for declaring official recessions takes a broader view that suggests the old rule of thumb does not always apply.

The definition of recession has become a subject of fierce debate ahead of the U.S. Congressional elections in the fall. The Biden White House has argued the U.S. is not in recession.
-----------------------------

Of course Biden says we aren't in a recession. He and other Democrats in power will deny deny deny at least until mid-term elections are over. If they agreed with the actual truth that we are in a recession, every democrat would lose their seat.

But...YOU know we are in a recession. You know this because the price of everything you buy has doubled and you are about to find out the worst part of the Fed fighting a recession...higher unemployment. Despite the unemployment rate not moving much currently, the labor participation rate is very high and people are not counted in the statistic when they stop looking for work and drop out of the numbers. The "real" unemployment number is twice what is being reported.

I hope everyone is hoarding their cash. Sep 30 is the brick wall scenario. The people running capitol hill have said fed funding and govt contracts will end. If you don't have existing contracts and funded contract vehicles for task orders, you will be royally fucked. This will be the final straw. Unemployment will go through the roof. You will need that cash and canned food. You have been warned.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheHypeBuster ()
Date: August 10, 2022 11:06AM

Another bad report, though not as bad:

WASHINGTON (AP) — Falling gas prices gave Americans a slight break from the pain of high inflation last month, though overall price increases slowed only modestly from the four-decade high that was reached in June.

Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday.

Besides gasoline, among the consumer purchases whose prices sank from June to July were airfares, which plunged nearly 8%. Hotel room costs fell 2.7%.

compared with a year ago, core inflation amounted to 5.9% in July, the same year-over-year increase as in June.

Core prices have slowed in the recent past only to re-accelerate in subsequent months. And plenty of items are continuing to grow more expensive. Food prices kept surging in July, for example, and have risen 13% from a year ago, the largest such increase since 1979. The costs of rent, medical care and furniture also rose at elevated rates.

Jobs report for July that the government issued Friday — with 528,000 jobs added, rising wages and an unemployment rate that matched a half-century low of 3.5% — solidified expectations that the Fed will announce yet another three-quarter-point hike when it next meets in September.
--------------------------------------

Don't forget that unemployment MUST rise in order to tame inflation. The fed will continue to raise rates three-quarter point, maybe including one half point increase. Unemployment doesn't include people who refuse to work or have stopped looking for work. The jobs report is based off of the postings from companies and employment/temp agencies. This doesn't mean the jobs are actually filled. Also, the CORE inflation rate hasn't gone down. Take out gas prices and inflation hasn't changed (as pointed out by the AP article).

I just watched the Biden speech. It was actually a good speech, especially about veterans. But, it was a feel-good speech. The truth of the matter is that inflation hasn't changed much (yet) and I still recommend you hoard your cash because the federal programs are jumping off the cliff after September (end of fed fiscal year).

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: bypuk ()
Date: August 14, 2022 08:01AM














Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Aug26Report ()
Date: August 26, 2022 11:26AM

More bad news today from the Fed...

JACKSON HOLE, Wyo., Aug 26 (Reuters) - The U.S. economy will need tight monetary policy "for some time" before inflation is under control, which means slower growth, a weaker job market and "some pain" for households and businesses, Federal Reserve Chair Jerome Powell said on Friday in remarks that warned there is no quick cure for fast rising prices.

"Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions. While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses," Powell said in a speech kicking off the Jackson Hole central banking conference in Wyoming.
----------------------------

Hunker down, people. The Biden and democrat-led lower and middle class inflation tax is about to increase.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Sep13Report ()
Date: September 13, 2022 09:24AM

CNBC reporting:

Inflation rose 0.1% in August even with sharp drop in gas prices

The consumer price index increased 0.1% in August. Excluding food and energy, the inflation gauge increased 0.6%, both higher than expected.

Costs were driven by increases in food, shelter and medical care services, offsetting a sharp decline in gasoline prices.

Real average hourly earnings adjusted for inflation rose 0.2% for the month. However, they remained down 2.8% from a year ago.

Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday.

The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.
-----------------------

Get ready for yet another fed rate increase. Actually, be ready for consecutive increases for the rest of the year. The Biden inflation tax is alive and well.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: kqwbevwejqwk ()
Date: September 13, 2022 02:38PM

Sep13Report Wrote:
-------------------------------------------------------
> CNBC reporting:
>
> Inflation rose 0.1% in August even with sharp drop
> in gas prices
>
> The consumer price index increased 0.1% in August.
> Excluding food and energy, the inflation gauge
> increased 0.6%, both higher than expected.
>
> Costs were driven by increases in food, shelter
> and medical care services, offsetting a sharp
> decline in gasoline prices.
>
> Real average hourly earnings adjusted for
> inflation rose 0.2% for the month. However, they
> remained down 2.8% from a year ago.
>
> Inflation rose more than expected in August as
> rising shelter and food costs offset a drop in gas
> prices, the Bureau of Labor Statistics reported
> Tuesday.
>
> The consumer price index, which tracks a broad
> swath of goods and services, increased 0.1% for
> the month and 8.3% over the past year. Excluding
> volatile food and energy costs, CPI rose 0.6% from
> July and 6.3% from the same month in 2021.
> -----------------------
>
> Get ready for yet another fed rate increase.
> Actually, be ready for consecutive increases for
> the rest of the year. The Biden inflation tax is
> alive and well.


Wait a second. Biden just recently said inflation was because of the price of gas and russia, russia, russia. He's such a bafoon. Price of gas drops sharply and inflation goes up. I just read the fed is going to increase at LEAST 3/4 point coming up followed by half to 3/4 point the rest of the year. Your Christmas just got a lot worse lol.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: holy_fuq ()
Date: September 13, 2022 02:41PM

markets are tanking


Dow 31,380.28 -1,001.06 -3.09%
S&P 500 3,970.17 -140.24 -3.41%
Nasdaq 11,744.85 -521.56 -4.25%
GlobalDow 3,531.37 -86.50 -2.39%
Gold 1,715.50 -25.10 -1.44%
Oil 87.47 -0.31 -0.35%

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: wepuw ()
Date: September 13, 2022 10:17PM





Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 09_16_report ()
Date: September 16, 2022 11:24AM

Reported today about fed raising rates and the scam:

Despite Fed Chairman Jerome Powell's hawkish remarks at the recent Cato Institute Monetary Conference, the Federal Reserve will be forced to pivot and reduce rates. This is largely due to the U.S. government's excessive public debt.

We have a 125 percent debt-to-GDP level, and over $30 trillion in public debt. The U.S. government's bar tab can't afford rising rates. There isn't a scenario where we can pay for it.

If inflation were measured according to 1980 criteria, it would be closer to 18 or 19 percent. Since 1980, the composition of goods that the Bureau of Labor Statistics uses to calculate CPI has changed.

Analysts warn that the Fed's rising interest rates make it harder for the government to finance its spending or fund entitlement programs.


Powell is not fighting inflation

The Federal Reserve has increased the Fed Funds Rate (FFR) by 225 basis points over the year, and is expected to raise rates by 75 basis points at its next meeting on September 21st.

The current FFR target range is 2.25 to 2.5 percent.

Yet rate hikes are "disingenuous," since the Fed has no intention of fighting inflation.

When you've got 8 to 9 percent CPI inflation, you're not going to fight that with a 4 percent, 3 percent, or even 5 percent Fed Funds Rate, which we can't even afford. The truth is that the Fed, like most central banks throughout history, wants inflation to be higher than interest rates.

The U.S. is a debt-soaked nation who has its back against the wall and would reduce the Fed Funds Rate to "inflate away its debt.

Powell is seeking inflation. The only reason they're raising rates today is not to fight inflation. It's so they'll have some reason to cut rates when the already existing recession becomes an "official" recession.
---------------------------------

We are all fucked. The issue is that most of you have buried your heads in the sand out of political loyalty to a dumbass who drove us off the cliff. Stock up on canned goods while you can. Things are about to really really suck starting October 1 when the fed stops releasing any new govt contracts.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: lwnjegvejwek ()
Date: September 16, 2022 11:28AM

LookingAhead Wrote:
-------------------------------------------------------

> Current accelerated inflation being shrugged off
> by the left, low interest rates the fed cannot
> raise due to massive debt and risk of default
> (happened under Carter and shut down the economy),
> risk of hyperinflation, invasion by latino
> illegals and added strain to the financials to
> give them free schooling etc, raising taxes on
> growth creators and corporations, paying people to
> not work, other countries trying to figure out a
> way to get away from the US dollar standard (and
> this will literally destroy our financial system
> if we can no longer print money)...it's all the
> perfect storm.
>
> My prediction: we have 5-10 years at most left
> before the US completely collapses


the first post in this thread over a year ago...pretty accurate

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: September 16, 2022 09:09PM

Dont forget the housing real estate market is already in a recession as well and will collapse by November and put lots of people out of work in the mortgage and refi industry. Leaders are trying to make sure people don't panic before midterm elections. The smart people are already preparing for the worst. Your 401k is about to get raped.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Needs more cowbell ()
Date: September 16, 2022 10:10PM

Psssssst - you democrats are really looking like shit on this one. Good job!!








































































































Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: SaturdayNews ()
Date: September 17, 2022 10:33AM

Also, your county and personal property tax rates just increased to combat inflation caused by the Biden inflation tax. The lower and middle class are getting bent over by Biden once again.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: SeptemberCountdown ()
Date: September 21, 2022 12:53PM

Just a few hours before the fed announces their rate increase, likely .75 but some are saying as much as 1.00.

But we are reminded by BoA announcement today: After more than a year in which most professional forecasters and financial-market players regularly misjudged the persistency of inflation, they may now be missing out on one key fact.

History shows that inflation takes an average of 10 years to return to 2% once it breaks above 5%. That’s based on decades worth of data across advanced countries. And it’s a much longer period than the consensus view.
------------------------------------

No matter what Slow Joe and the Fed tells you, we are in for a LONG painful inflation tax driven by Joe Biden and dems who all wanted to give away YOUR "free" money and then print more money that made your money even less valuable.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheReminderGuy ()
Date: September 21, 2022 01:14PM

I just read an article. Here is why you should be VERY worried:

The Federal Reserve fed the national debt. Now, that debt is about to become a lot more expensive, straining the government and possibly roiling the global financial system.

When Volcker hiked interest rates in 1980, the total amount of U.S. government debt was only $907 billion, or about 30 percent the size of the total U.S. economy. Today, the U.S. debt stands at $28 trillion, or about 125 percent of the total U.S. economy, meaning that our debt is worth about 25 percent more than our economic output each year. The government will have to either raise taxes or cut spending to avoid more and more of its budget to simply paying interest costs.

The Federal Reserve created the conditions for corporate debt to swell. Now, many companies could struggle to make those payments.

This created the boom in corporate debt markets for leveraged loans (which are like corporate bonds, but individually tailored to each borrower, rather than standardized and sold on exchanges like bonds) and junk bonds (which are just corporate bonds that are rated as the riskiest and most likely to default). Between 2010 and 2020, the total amount of corporate debt almost doubled from roughly $6 trillion to $11.5 trillion. Even Powell knew this posed a risk to the financial system. He warned about it when he first joined the central bank in 2012.

Corporate debt is particularly vulnerable to high interest rates because of the way its structured. Corporate bonds aren’t like credit card debt or home loans, which let borrowers pay down a bit of the loan’s principal each month. Instead, a corporate borrower only pays the interest costs on the bond until the date when the whole loan amount is due. Debt defaults have already begun to rise for some forms of corporate debt.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: ThisJustAnnounced ()
Date: September 21, 2022 02:36PM

Update:

Fed delivers expected 75 basis point rate hike but signals further large rises.

U.S. stock indexes turned lower on Wednesday afternoon as the Federal Reserve announced another expected sharp interest rate rise and signaled more increases before the end of the year.

According to the statement. the central bankers now see a “terminal” rate of 4.6% in 2023 and don’t see any rate cuts until 2024.
----------------------------------

The Biden tax continues to fuq the lower and middle class raw.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: SunSept25Report ()
Date: September 25, 2022 07:27PM

Reported today:

The Federal Reserve is tightening policy at the fastest pace in three decades as it tries to crush runaway inflation. Policymakers have voted to approve five consecutive interest rate increases this year, including three consecutive 75-basis-point hikes in June, July and September. At the conclusion of their latest meeting this week, Chairman Jerome Powell signaled that another 125 basis points of rate increases is on the table this year.

The rate hikes have driven the average rate for a 30-year fixed mortgage rate above 6%, according to Freddie Mac, the highest since the 2008 recession.

U.S. home prices are finally falling from a record high notched earlier this year, and could tumble by as much as 20% by mid-2023, according to a top economist.

Painfully high inflation and rising borrowing costs have proven to be a lethal combination for the housing market, forcing potential buyers to pull back on spending. Experts agree the housing market is in a recession.
------------------------------

The democrat inflation and recession tax is alive and well. If you bought a house just a few months ago, it will take you several YEARS to recoup for the NEGATIVE equity. Forget about investment. You have just lost any hope of having equity in your new home in case you want to refinance at a lower interest rate. The working and middle class again bent over by money-printing idiots hoping to buy votes with "free" shit.

Options: ReplyQuote
Pages: Previous123All
Current Page: 3 of 3


Your Name: 
Your Email (Optional): 
Subject: 
Attach a file
  • No file can be larger than 75 MB
  • All files together cannot be larger than 300 MB
  • 30 more file(s) can be attached to this message
Spam prevention:
Please, enter the code that you see below in the input field. This is for blocking bots that try to post this form automatically.
 **     **  ********   ********   **     **   ******   
 **     **  **     **  **     **  **     **  **    **  
 **     **  **     **  **     **  **     **  **        
 *********  ********   ********   **     **  **   **** 
 **     **  **         **         **     **  **    **  
 **     **  **         **         **     **  **    **  
 **     **  **         **          *******    ******   
This forum powered by Phorum.