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Fairfax Underground
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.
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.
Re: Turn Out The Lights, The Party's Over
Posted by:
ESAD NotFalling
()
Date: December 13, 2022 12:01PM
If we define inflation as the increasing cost of living a middle class or lower middle class American lifestyle, inflation has been a huge problem since the 80s. The manner in which the CPI is calculated has tended to hide this. Republican economic policies as well as Democratic ones have contributed to this. What happened under Biden was that the "system" lost its ability to mask rising costs.
Re: Turn Out The Lights, The Party's Over
Posted by:
Dec14Report
()
Date: December 14, 2022 10:59PM
The fed raised interest rates another half point today and said they will continue to increase the rate well into 2023. You were warned not to fall for Sleepy Joe's premature victory dance. You will be paying Biden s inflation tax for a long time
Re: Turn Out The Lights, The Party's Over
Posted by:
Dec16Report
()
Date: December 16, 2022 10:29AM
Hilariously reported today:
New York Fed’s Williams says interest rates need to top inflation rate
to get prices under control
------------------------------------
Yeah, no shit Sherlock. I said that in this thread a long time ago. The stupidity in/during the Biden administration is just astonishing.
Also looming is ANOTHER government shutdown next week that will basically put a stop to business in the metro DC area. Dems want to raise the debt ceiling again. That's what we need, more debt.
New York Fed’s Williams says interest rates need to top inflation rate
to get prices under control
------------------------------------
Yeah, no shit Sherlock. I said that in this thread a long time ago. The stupidity in/during the Biden administration is just astonishing.
Also looming is ANOTHER government shutdown next week that will basically put a stop to business in the metro DC area. Dems want to raise the debt ceiling again. That's what we need, more debt.
Re: Turn Out The Lights, The Party's Over
Posted by:
Troofer
()
Date: December 16, 2022 04:58PM
Just wait. It's gonna get a lot worse when Title 42 expires and we have 10,000 people per DAY crossing illegally into the US. The US debt above 31 trillion dollars now is unrecoverable. Adding the expense of housing and feeding millions of people is only something Biden would feel is ok
The (democrat) government wants a population dependent and controllable. In the end, the working class will be the ones to suffer for this. But you get what you vote for. Free shit is great until you run out of other people's money. And the US is flat out broke.
The (democrat) government wants a population dependent and controllable. In the end, the working class will be the ones to suffer for this. But you get what you vote for. Free shit is great until you run out of other people's money. And the US is flat out broke.
Re: Turn Out The Lights, The Party's Over
Posted by:
CanKick
()
Date: December 17, 2022 09:11AM
Dec16Report Wrote:
-------------------------------------------------------
>
> Also looming is ANOTHER government shutdown next
> week that will basically put a stop to business in
> the metro DC area. Dems want to raise the debt
> ceiling again. That's what we need, more debt.
This can was kicked down the road for another 7 days. Typical government bullshit.
-------------------------------------------------------
>
> Also looming is ANOTHER government shutdown next
> week that will basically put a stop to business in
> the metro DC area. Dems want to raise the debt
> ceiling again. That's what we need, more debt.
This can was kicked down the road for another 7 days. Typical government bullshit.
Re: Turn Out The Lights, The Party's Over
Posted by:
5Jan2023Report
()
Date: January 05, 2023 04:31PM
Yesterday:
Minutes from the December gathering, when the US central bank raised its benchmark rate by half a percentage point, showed the Fed intends to continue squeezing the economy to try to tackle price pressures, which they warned could “prove to be more persistent than anticipated”.
Reported today: Federal Reserve to keep interest rates higher for longer
Strong jobs data and hawkish Fed commentary signaled more aggressive Federal Reserve interest-rate hikes to come. Fed officials have been talking this week about targeting a higher than initially forecast terminal rate this year as interest rates remain elevated. Goldman and Citi are forecasting a 5.25% unemployment rate and Bank of America at 5.5% by 2024.
-------------------------------------
What you don't realize is that these "jobs" are just posted jobs. They are NOT jobs that are filled with people working. The real number is the labor participation rate. This number has been falling, especially with young males. Let's see what tomorrow's report shows us. My guess is that the next Fed rate bump will be at least 1/4 point but probably a 1/2 point bump if the labor participation rate rises. Reminder, unemployment must go up to fight inflation. You need less people with money in order to drive down demand.
Minutes from the December gathering, when the US central bank raised its benchmark rate by half a percentage point, showed the Fed intends to continue squeezing the economy to try to tackle price pressures, which they warned could “prove to be more persistent than anticipated”.
Reported today: Federal Reserve to keep interest rates higher for longer
Strong jobs data and hawkish Fed commentary signaled more aggressive Federal Reserve interest-rate hikes to come. Fed officials have been talking this week about targeting a higher than initially forecast terminal rate this year as interest rates remain elevated. Goldman and Citi are forecasting a 5.25% unemployment rate and Bank of America at 5.5% by 2024.
-------------------------------------
What you don't realize is that these "jobs" are just posted jobs. They are NOT jobs that are filled with people working. The real number is the labor participation rate. This number has been falling, especially with young males. Let's see what tomorrow's report shows us. My guess is that the next Fed rate bump will be at least 1/4 point but probably a 1/2 point bump if the labor participation rate rises. Reminder, unemployment must go up to fight inflation. You need less people with money in order to drive down demand.
Re: Turn Out The Lights, The Party's Over
Posted by:
2023Jan11_Report
()
Date: January 12, 2023 09:46AM
CPI numbers are out...just reported:
The consumer price index, which measures the cost of a broad basket of goods and services, fell 0.1% for the month, in line with the Dow Jones estimate. Even with the decline, headline CPI rose 6.5% from a year ago, highlighting the persistent burden that the rising cost of living has placed on U.S. households. However, that was the smallest annual increase since October 2021.Excluding volatile food and energy prices, co-called core CPI rose 0.3%, also meeting expectations. Core was up 5.7% from a year ago, once again in line.A steep drop in gasoline was responsible for most of the monthly decline. Prices at the pump tumbled 9.4% for the month and are now down 1.5% from a year ago after surging past $5 a gallon in mid-2022.Fuel oil slid 16.6% for the month, also contributing to a total 4.5% decline in the energy index.Food prices increased 0.3% in December while shelter also saw another sharp gain up 0.8% for the month and now 7.5% higher from a year ago. Shelter accounts for about one-third of the total CPI index.Used vehicle prices, also in important initial driver of inflation, were off 2.5% for the month and are now down 8.8% year over year.
-----------------------------------
CPI was down by .1% (one tenth of a percent), but core CPI is up by .3% (three tenths of a percent). Despite Joe Biden's anticipated premature victory lap, that is not good news. The decline in CPI was primarily driven by lowered fuel prices. Shelter prices are also up.
Prediction: expect at least a half point fed rate increase at the next meeting
It's going to be a long battle uphill and you will be paying for it
The consumer price index, which measures the cost of a broad basket of goods and services, fell 0.1% for the month, in line with the Dow Jones estimate. Even with the decline, headline CPI rose 6.5% from a year ago, highlighting the persistent burden that the rising cost of living has placed on U.S. households. However, that was the smallest annual increase since October 2021.Excluding volatile food and energy prices, co-called core CPI rose 0.3%, also meeting expectations. Core was up 5.7% from a year ago, once again in line.A steep drop in gasoline was responsible for most of the monthly decline. Prices at the pump tumbled 9.4% for the month and are now down 1.5% from a year ago after surging past $5 a gallon in mid-2022.Fuel oil slid 16.6% for the month, also contributing to a total 4.5% decline in the energy index.Food prices increased 0.3% in December while shelter also saw another sharp gain up 0.8% for the month and now 7.5% higher from a year ago. Shelter accounts for about one-third of the total CPI index.Used vehicle prices, also in important initial driver of inflation, were off 2.5% for the month and are now down 8.8% year over year.
-----------------------------------
CPI was down by .1% (one tenth of a percent), but core CPI is up by .3% (three tenths of a percent). Despite Joe Biden's anticipated premature victory lap, that is not good news. The decline in CPI was primarily driven by lowered fuel prices. Shelter prices are also up.
Prediction: expect at least a half point fed rate increase at the next meeting
It's going to be a long battle uphill and you will be paying for it
Re: Turn Out The Lights, The Party's Over
Posted by:
ValentinesDayReport
()
Date: February 14, 2023 11:08AM
CNBC reports another bad CPI report: Inflation rose 0.5% in January, more than expected
Inflation rose in January by 0.5% following a 0.1% increase in December, according to the consumer price index report released Tuesday.
The CPI was up 6.4% from the same period in 2022. Both numbers were higher than expected.
“Super core” services inflation, which is key for the Fed and excludes food, energy and shelter, rose 0.2% for the month and was 4% higher than a year ago.
Rising prices meant a loss in real pay for workers. Average hourly earnings fell 0.2% for the month and were down 1.8% from a year ago, according to a separate BLS report.
-------------------------------
Expect another half point Fed rate increase over the next session. I suspect there will be a half point rate increase the next 2 sessions.
Biden's invisible tax on the middle and working class is alive and well.
Inflation rose in January by 0.5% following a 0.1% increase in December, according to the consumer price index report released Tuesday.
The CPI was up 6.4% from the same period in 2022. Both numbers were higher than expected.
“Super core” services inflation, which is key for the Fed and excludes food, energy and shelter, rose 0.2% for the month and was 4% higher than a year ago.
Rising prices meant a loss in real pay for workers. Average hourly earnings fell 0.2% for the month and were down 1.8% from a year ago, according to a separate BLS report.
-------------------------------
Expect another half point Fed rate increase over the next session. I suspect there will be a half point rate increase the next 2 sessions.
Biden's invisible tax on the middle and working class is alive and well.
Re: Turn Out The Lights, The Party's Over
Posted by:
Feb152023Report
()
Date: February 15, 2023 06:37PM
REALLY bad news reported today:
The federal government could default on its debt as early as July if Congress is unable to raise the debt limit, according to a report released Wednesday by the Congressional Budget Office (CBO).
The nonpartisan budget scorekeeper said the Treasury Department could exhaust the so-called “extraordinary measures” it began taking last month to stave off a default sometime between July and September.
The report comes a month after the Treasury warned it could run out of the emergency measures as soon as June, after the national debt reached the roughly $31.4 trillion threshold set by Congress more than a year ago.
------------------------------------------------
It was posted earlier in this thread that the US debt is so high that the government could default. Imagine having a credit card and you're struggling to make the minimum payments so you get a credit limit increase and then max it out again, and then you can't make the payments. You default. Your credit goes to shit. Nobody wants to do business with you anymore. THIS happens to governments too. Biden and his team have been warned again and again about this problem. Their answer: raise the credit limit. Hoard your money and watch your IRA/401K. Things are about to get messy.
The federal government could default on its debt as early as July if Congress is unable to raise the debt limit, according to a report released Wednesday by the Congressional Budget Office (CBO).
The nonpartisan budget scorekeeper said the Treasury Department could exhaust the so-called “extraordinary measures” it began taking last month to stave off a default sometime between July and September.
The report comes a month after the Treasury warned it could run out of the emergency measures as soon as June, after the national debt reached the roughly $31.4 trillion threshold set by Congress more than a year ago.
------------------------------------------------
It was posted earlier in this thread that the US debt is so high that the government could default. Imagine having a credit card and you're struggling to make the minimum payments so you get a credit limit increase and then max it out again, and then you can't make the payments. You default. Your credit goes to shit. Nobody wants to do business with you anymore. THIS happens to governments too. Biden and his team have been warned again and again about this problem. Their answer: raise the credit limit. Hoard your money and watch your IRA/401K. Things are about to get messy.
Re: Turn Out The Lights, The Party's Over
Posted by:
kjdbfgdj
()
Date: February 15, 2023 10:35PM
Feb152023Report Wrote:
-------------------------------------------------------
> REALLY bad news reported today:
>
> The federal government could default on its debt
> as early as July if Congress is unable to raise
> the debt limit, according to a report released
> Wednesday by the Congressional Budget Office
> (CBO).
>
> The nonpartisan budget scorekeeper said the
> Treasury Department could exhaust the so-called
> “extraordinary measures” it began taking last
> month to stave off a default sometime between July
> and September.
>
> The report comes a month after the Treasury warned
> it could run out of the emergency measures as soon
> as June, after the national debt reached the
> roughly $31.4 trillion threshold set by Congress
> more than a year ago.
> ------------------------------------------------
>
> It was posted earlier in this thread that the US
> debt is so high that the government could default.
> Imagine having a credit card and you're struggling
> to make the minimum payments so you get a credit
> limit increase and then max it out again, and then
> you can't make the payments. You default. Your
> credit goes to shit. Nobody wants to do business
> with you anymore. THIS happens to governments too.
> Biden and his team have been warned again and
> again about this problem. Their answer: raise the
> credit limit. Hoard your money and watch your
> IRA/401K. Things are about to get messy.
The government will print more money to escape. But this will devalue your money even more. Biden will do another fake victory dance as though he has done us a favor. Then he will go eat like a king while the rest of us sweat over our credit card interest rates going through the roof and try to figure out how we are going to afford rent and eggs.
-------------------------------------------------------
> REALLY bad news reported today:
>
> The federal government could default on its debt
> as early as July if Congress is unable to raise
> the debt limit, according to a report released
> Wednesday by the Congressional Budget Office
> (CBO).
>
> The nonpartisan budget scorekeeper said the
> Treasury Department could exhaust the so-called
> “extraordinary measures” it began taking last
> month to stave off a default sometime between July
> and September.
>
> The report comes a month after the Treasury warned
> it could run out of the emergency measures as soon
> as June, after the national debt reached the
> roughly $31.4 trillion threshold set by Congress
> more than a year ago.
> ------------------------------------------------
>
> It was posted earlier in this thread that the US
> debt is so high that the government could default.
> Imagine having a credit card and you're struggling
> to make the minimum payments so you get a credit
> limit increase and then max it out again, and then
> you can't make the payments. You default. Your
> credit goes to shit. Nobody wants to do business
> with you anymore. THIS happens to governments too.
> Biden and his team have been warned again and
> again about this problem. Their answer: raise the
> credit limit. Hoard your money and watch your
> IRA/401K. Things are about to get messy.
The government will print more money to escape. But this will devalue your money even more. Biden will do another fake victory dance as though he has done us a favor. Then he will go eat like a king while the rest of us sweat over our credit card interest rates going through the roof and try to figure out how we are going to afford rent and eggs.
Re: Turn Out The Lights, The Party's Over
Posted by:
RuuutRohhhhh
()
Date: February 16, 2023 10:14AM
More bad news today:
The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.7% in January from the previous month. It marked the steepest monthly increase since early summer. On an annual basis, prices are up 6%.
Those figures were both higher than the 5.4% headline figure and 0.4% monthly increase forecast by economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with the most aggressive interest rate hike campaign since the 1980s.
Excluding the more volatile measurements of food and energy, core inflation rose 0.5% for the month – the highest increase since May 2022 and nearly double the Wall Street estimate.
-----------------------------
The Democrat inflation tax keeps kicking the working and middle class in the nuts. Expect at least a half point fed rate increase. I'd be willing to bet there's a solid chance at a three-quarter increase on the table. Reminder: in order to bring down inflation, the government must create less demand for goods and services and force higher unemployment. Until this happens, the Democrat inflation tax will stick around. Prepare yourself, it's going to continue to get worse. And the people who will feel Biden's inflation tax the most will be the the middle class and below.
The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.7% in January from the previous month. It marked the steepest monthly increase since early summer. On an annual basis, prices are up 6%.
Those figures were both higher than the 5.4% headline figure and 0.4% monthly increase forecast by economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with the most aggressive interest rate hike campaign since the 1980s.
Excluding the more volatile measurements of food and energy, core inflation rose 0.5% for the month – the highest increase since May 2022 and nearly double the Wall Street estimate.
-----------------------------
The Democrat inflation tax keeps kicking the working and middle class in the nuts. Expect at least a half point fed rate increase. I'd be willing to bet there's a solid chance at a three-quarter increase on the table. Reminder: in order to bring down inflation, the government must create less demand for goods and services and force higher unemployment. Until this happens, the Democrat inflation tax will stick around. Prepare yourself, it's going to continue to get worse. And the people who will feel Biden's inflation tax the most will be the the middle class and below.
Re: Turn Out The Lights, The Party's Over
Posted by:
kjsbsdvgejek
()
Date: February 16, 2023 01:41PM
Another US debt report:
This comes as the growth of interest costs and mandatory spending outpaces increases in revenues and the economy.
Newly-enacted legislation also adds to deficit predictions, noted CBO director Phillip Swagel.
The rise in mandatory spending is driven by growing costs for Social Security and Medicare, he added.
"The cumulative deficit over the 2023-2032 period that we now project is $3 TRILLION LARGER than we projected last May," Swagel said.
The CBO raised its deficit estimate for 2023 and projections over the next decade, in part to account for legislation enacted after the May 2022 forecast.
We are so fucked.
This comes as the growth of interest costs and mandatory spending outpaces increases in revenues and the economy.
Newly-enacted legislation also adds to deficit predictions, noted CBO director Phillip Swagel.
The rise in mandatory spending is driven by growing costs for Social Security and Medicare, he added.
"The cumulative deficit over the 2023-2032 period that we now project is $3 TRILLION LARGER than we projected last May," Swagel said.
The CBO raised its deficit estimate for 2023 and projections over the next decade, in part to account for legislation enacted after the May 2022 forecast.
We are so fucked.
Re: Turn Out The Lights, The Party's Over
Posted by:
MoBadNews
()
Date: February 16, 2023 04:16PM
Another bad report just released...
Americans continued to add to their debt at the end of last year — and grew their credit card balances at record rates, according to data released Thursday by the Federal Reserve Bank of New York.
Total US household debt hit a record $16.9 trillion during the fourth quarter, an increase of $394 billion, or 2.4%, from the prior three-month period, according to the Fed’s latest Quarterly Report on Household Debt and Credit. The report showed that not only are credit card balances swelling at record levels, delinquencies are on the rise as well.
Credit card balances increased nearly 6.6% to $986 billion during the quarter, the highest quarterly growth on record, according to New York Fed data that goes back to 1999. Year over year, credit card balances grew 15.2%.
“It’s triple trouble for credit card borrowers,” Ted Rossman, senior industry analyst for Bankrate, said in a statement. “Balances are up, rates are up and more people are carrying credit card debt.”
Americans continued to add to their debt at the end of last year — and grew their credit card balances at record rates, according to data released Thursday by the Federal Reserve Bank of New York.
Total US household debt hit a record $16.9 trillion during the fourth quarter, an increase of $394 billion, or 2.4%, from the prior three-month period, according to the Fed’s latest Quarterly Report on Household Debt and Credit. The report showed that not only are credit card balances swelling at record levels, delinquencies are on the rise as well.
Credit card balances increased nearly 6.6% to $986 billion during the quarter, the highest quarterly growth on record, according to New York Fed data that goes back to 1999. Year over year, credit card balances grew 15.2%.
“It’s triple trouble for credit card borrowers,” Ted Rossman, senior industry analyst for Bankrate, said in a statement. “Balances are up, rates are up and more people are carrying credit card debt.”
Re: Turn Out The Lights, The Party's Over
Posted by:
NiteyNight
()
Date: February 16, 2023 10:10PM
Nighty night
Re: Turn Out The Lights, The Party's Over
Posted by:
partywhiteboyrich
()
Date: February 18, 2023 08:29AM
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Re: Turn Out The Lights, The Party's Over
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Re: Turn Out The Lights, The Party's Over
Posted by:
Feb24ReportOuch
()
Date: February 24, 2023 09:59AM
Another bad report today...
The numbers: The cost of U.S. goods and services jumped 0.6% in January — the biggest increase since last summer — in another sign that stubbornly high inflation is likely to take awhile to return to low pre-pandemic levels.
Prices also rose a bit faster in December than previously reported, the government said Friday.
The increase in the core rate of inflation in the past 12 months moved up 4.7% from 4.6.%.
Formally known as the personal consumption expenditures price index, PCE is viewed by the Fed as the best predictor of future inflation trends. The central bank pays especially close attention to the core gauge that strips out volatile food and energy costs.
--------------------------------------
Get ready for a 1/2 or 3/4 point fed rate increase to add to the already painful Biden inflation tax.
The numbers: The cost of U.S. goods and services jumped 0.6% in January — the biggest increase since last summer — in another sign that stubbornly high inflation is likely to take awhile to return to low pre-pandemic levels.
Prices also rose a bit faster in December than previously reported, the government said Friday.
The increase in the core rate of inflation in the past 12 months moved up 4.7% from 4.6.%.
Formally known as the personal consumption expenditures price index, PCE is viewed by the Fed as the best predictor of future inflation trends. The central bank pays especially close attention to the core gauge that strips out volatile food and energy costs.
--------------------------------------
Get ready for a 1/2 or 3/4 point fed rate increase to add to the already painful Biden inflation tax.
Re: Turn Out The Lights, The Party's Over
Posted by:
BuckleUp
()
Date: March 07, 2023 01:28PM
Happening currently....
Fed Chair Opens Door to Faster Rate Moves and a Higher Peak
In light of recent strong data, Jerome H. Powell said that the Federal Reserve is likely to raise rates higher than expected.
He even opened the door to a faster pace of rate increases if incoming data — which include a jobs report on Friday and a fresh inflation report due next week — remain hot.
--------------------
Biden's invisible inflationary tax will get worse and will be lead by higher interest rates on credit cards, automobiles, and business investment. Get ready as we move closer to jumping off the cliff.
Fed Chair Opens Door to Faster Rate Moves and a Higher Peak
In light of recent strong data, Jerome H. Powell said that the Federal Reserve is likely to raise rates higher than expected.
He even opened the door to a faster pace of rate increases if incoming data — which include a jobs report on Friday and a fresh inflation report due next week — remain hot.
--------------------
Biden's invisible inflationary tax will get worse and will be lead by higher interest rates on credit cards, automobiles, and business investment. Get ready as we move closer to jumping off the cliff.
Re: Turn Out The Lights, The Party's Over
Posted by:
BumperGuy
()
Date: March 07, 2023 09:00PM
Just wait. It's worse than you think. Credit card debt is skyrocketing, interest rates are going up, making credit card debt even worse. The housing market has jumped off the cliff already (nationally). The auto industry made the plunge as well. Layoffs aren't being reported on 99% of mainstream media. Fentanyl is pouring into the country through a southern border that Biden says is secure (a laughable claim). And we have a demographic coming up now that believes that the government is going to take care of them. I have a dose of truth for you: the government doesn't give a fuck about you and they are the cause of all of this pain you are going through.
The next 3-4 years (and beyond) is going to be bad for most of you. I suggest you save your money. You're gonna need it.
The next 3-4 years (and beyond) is going to be bad for most of you. I suggest you save your money. You're gonna need it.
Re: Turn Out The Lights, The Party's Over
Posted by:
GetReadyNow
()
Date: March 09, 2023 02:52PM
Ok people, this is your warning.
Despite the current market moves downward, the real market tanking is within 60 days.
The market crash trigger will come from the S&P earnings missing estimates big time.
Wall Street is expecting $226, that's priced for perfection. So what happens is, when we deteriorate in jobs the next few months, that will bring into question the S&P earnings, and the S&P earnings are probably $190, so that'll trigger it.
-------------------------------------
You have been warned. Joe Biden and the others in power know this already. They are wealthy and prepared. My bet is that they are upping their market shorts.
The Biden inflation and recession tax is about to kick in MUCH worse.
Despite the current market moves downward, the real market tanking is within 60 days.
The market crash trigger will come from the S&P earnings missing estimates big time.
Wall Street is expecting $226, that's priced for perfection. So what happens is, when we deteriorate in jobs the next few months, that will bring into question the S&P earnings, and the S&P earnings are probably $190, so that'll trigger it.
-------------------------------------
You have been warned. Joe Biden and the others in power know this already. They are wealthy and prepared. My bet is that they are upping their market shorts.
The Biden inflation and recession tax is about to kick in MUCH worse.
Re: Turn Out The Lights, The Party's Over
Posted by:
BaaadNews
()
Date: March 10, 2023 08:38AM
GetReadyNow Wrote:
-------------------------------------------------------
> Ok people, this is your warning.
>
> Despite the current market moves downward, the
> real market tanking is within 60 days.
>
> The market crash trigger will come from the S&P
> earnings missing estimates big time.
>
> Wall Street is expecting $226, that's priced for
> perfection. So what happens is, when we
> deteriorate in jobs the next few months, that will
> bring into question the S&P earnings, and the S&P
> earnings are probably $190, so that'll trigger
> it.
> -------------------------------------
>
> You have been warned. Joe Biden and the others in
> power know this already. They are wealthy and
> prepared. My bet is that they are upping their
> market shorts.
>
> The Biden inflation and recession tax is about to
> kick in MUCH worse.
Biden knows his new tax increases won't pass. It's just a political stunt as he's getting ready to announce his 2024 Presidential candidacy.
But, let's look at what he's proposing (and it will indirectly affect all of you).
Biden wants to add up to almost $4.7 trillion in new taxes targeted at businesses and high-income individuals. The major changes include higher marginal tax rates on corporate, individual, and capital gains income; a complicated new minimum tax on high-net-worth individuals; and increases to Medicare taxes. The negative effects of higher tax rates on saving, investment, and entrepreneurship would have economy-wide repercussions, ultimately harming workers, international competitiveness, and domestic investment.
The Biden budget would increase Internal Revenue Service (IRS) funding by 15 percent, or about $1.8 billion, to $14.1 billion in FY 2024.(That's what we need, give more power to the world's biggest bully.)
Reminder: businesses PASS THROUGH taxes to the consumer. Punish oil companies by eliminating the subsidies? Nope. You will just pay more at the pump as they pass through their increased costs. Looking beyond the pump, petroleum is used in just about everything.
Jobs report just released: US added 311,000 "jobs", higher than forecasted (actually just job postings), and the labor rate rose .1%.
Jobs report is bad news because this news all but guarantees another 1/2-3/4 point fed rate increase.
I told you on Feb 24 to expect this.
-------------------------------------------------------
> Ok people, this is your warning.
>
> Despite the current market moves downward, the
> real market tanking is within 60 days.
>
> The market crash trigger will come from the S&P
> earnings missing estimates big time.
>
> Wall Street is expecting $226, that's priced for
> perfection. So what happens is, when we
> deteriorate in jobs the next few months, that will
> bring into question the S&P earnings, and the S&P
> earnings are probably $190, so that'll trigger
> it.
> -------------------------------------
>
> You have been warned. Joe Biden and the others in
> power know this already. They are wealthy and
> prepared. My bet is that they are upping their
> market shorts.
>
> The Biden inflation and recession tax is about to
> kick in MUCH worse.
Biden knows his new tax increases won't pass. It's just a political stunt as he's getting ready to announce his 2024 Presidential candidacy.
But, let's look at what he's proposing (and it will indirectly affect all of you).
Biden wants to add up to almost $4.7 trillion in new taxes targeted at businesses and high-income individuals. The major changes include higher marginal tax rates on corporate, individual, and capital gains income; a complicated new minimum tax on high-net-worth individuals; and increases to Medicare taxes. The negative effects of higher tax rates on saving, investment, and entrepreneurship would have economy-wide repercussions, ultimately harming workers, international competitiveness, and domestic investment.
The Biden budget would increase Internal Revenue Service (IRS) funding by 15 percent, or about $1.8 billion, to $14.1 billion in FY 2024.(That's what we need, give more power to the world's biggest bully.)
Reminder: businesses PASS THROUGH taxes to the consumer. Punish oil companies by eliminating the subsidies? Nope. You will just pay more at the pump as they pass through their increased costs. Looking beyond the pump, petroleum is used in just about everything.
Jobs report just released: US added 311,000 "jobs", higher than forecasted (actually just job postings), and the labor rate rose .1%.
Jobs report is bad news because this news all but guarantees another 1/2-3/4 point fed rate increase.
I told you on Feb 24 to expect this.
Re: Turn Out The Lights, The Party's Over
Posted by:
knwgehwek
()
Date: March 10, 2023 05:26PM
BaaadNews Wrote:
-------------------------------------------------------
> The Biden budget would increase Internal Revenue
> Service (IRS) funding by 15 percent, or about $1.8
> billion, to $14.1 billion in FY 2024.(That's what
> we need, give more power to the world's biggest
> bully.)
You can't make this shit up. IRS's calls for thieves to report stolen income. According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year. The same rule applies to bribery, drug deals and other income-earning crimes.
------
Welcome to the newer, friendlier IRS. Trust me, your taxes will soon increase.
-------------------------------------------------------
> The Biden budget would increase Internal Revenue
> Service (IRS) funding by 15 percent, or about $1.8
> billion, to $14.1 billion in FY 2024.(That's what
> we need, give more power to the world's biggest
> bully.)
You can't make this shit up. IRS's calls for thieves to report stolen income. According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year. The same rule applies to bribery, drug deals and other income-earning crimes.
------
Welcome to the newer, friendlier IRS. Trust me, your taxes will soon increase.
Re: Turn Out The Lights, The Party's Over
Posted by:
March13Update
()
Date: March 13, 2023 09:24AM
It's started with the banks crashing due to "tech" companies falling and affecting the banks. And it's going to get A LOT worse soon when the S&P misses earnings.
I think most big banks are stable but the SAME ISSUES are here again that we had during the financial crash in 2008.
It's gonna be a bumpy ride. Say goodbye to your 401k but don't worry, Joe Biden and the other wealthy people will come in and scoop up your investments at pennies on the dollar.
I haven't looked yet but I would be curious which "leaders" are shorting the market (the same way they did during the 2008 crash). A bill was introduced to stop our "leaders" from trading at an advantage but the criminal Pelosi is doing everything she can to block it.
I think most big banks are stable but the SAME ISSUES are here again that we had during the financial crash in 2008.
It's gonna be a bumpy ride. Say goodbye to your 401k but don't worry, Joe Biden and the other wealthy people will come in and scoop up your investments at pennies on the dollar.
I haven't looked yet but I would be curious which "leaders" are shorting the market (the same way they did during the 2008 crash). A bill was introduced to stop our "leaders" from trading at an advantage but the criminal Pelosi is doing everything she can to block it.
Re: Turn Out The Lights, The Party's Over
Posted by:
NotGreatNews
()
Date: March 14, 2023 09:50AM
On top of 2 banks failing, we now have the new CPI report out
CNBC:
Inflation rose in February but was in line with expectations, likely keeping the Federal Reserve on track for another interest rate hike next week despite recent banking industry turmoil.
The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Both readings were exactly in line with Dow Jones estimates.
Excluding volatile food and energy prices, core CPI increased 0.5% in February and 5.5% on a 12-month basis. The monthly reading was slightly ahead of the 0.4% estimate.
-----------------------
Failure of the banks was due to risky loans on "tech" companies living on debt and unable to sustain themselves due to higher interest rates and the banks putting the deposits into risky bonds. Not smart, but Silicon Valley is filled with woke entitled tech retards who do this shit all the time.
The fed WILL raise interest rates again. Count on a quarter point. Since the banks collapsed, people are freaked out and I think the fed raising a half point might just cause more panic.
But still, that's an additional quarter point increase to mortgages, car loans, credit cards, etc. That's less company investments. That's more layoffs.
The Joe Biden inflation tax will continue to take its toll...on you.
CNBC:
Inflation rose in February but was in line with expectations, likely keeping the Federal Reserve on track for another interest rate hike next week despite recent banking industry turmoil.
The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Both readings were exactly in line with Dow Jones estimates.
Excluding volatile food and energy prices, core CPI increased 0.5% in February and 5.5% on a 12-month basis. The monthly reading was slightly ahead of the 0.4% estimate.
-----------------------
Failure of the banks was due to risky loans on "tech" companies living on debt and unable to sustain themselves due to higher interest rates and the banks putting the deposits into risky bonds. Not smart, but Silicon Valley is filled with woke entitled tech retards who do this shit all the time.
The fed WILL raise interest rates again. Count on a quarter point. Since the banks collapsed, people are freaked out and I think the fed raising a half point might just cause more panic.
But still, that's an additional quarter point increase to mortgages, car loans, credit cards, etc. That's less company investments. That's more layoffs.
The Joe Biden inflation tax will continue to take its toll...on you.
Re: Turn Out The Lights, The Party's Over
Posted by:
IdesOfMarchReport
()
Date: March 15, 2023 03:17PM
Mixed news, but still overall not good
The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, fell 0.1% in February from the previous month. On an annual basis, prices still went up 4.6%.
Excluding the more volatile measurements of food, energy and trade, the so-called core inflation ROSE 0.2% for the month.
The data comes a day after the Labor Department reported that the consumer price index, which measures the prices paid directly by consumers, rose 0.4% in February.
The different gauges point to inflation that is running well above the Fed's preferred 2% target, a troubling sign as the central bank has already raised rates eight straight times.
Despite recent turmoil within the banking sector, markets still expect the U.S. central bank to raise interest rates during its two-day meeting next week, with most traders pricing in a 25-basis-point hike.
--------------------
I predict they will revise the numbers in a month to show inflation rose more than is being reported, the same way they revised the employment numbers down last time. By the way, Biden revised his billionaire bank bailout and WE are now on the hook for bailing out the bullshit banks who made poor investment decisions. In other words, it's another tax being placed on us to help out the rich financial industry California donors who gave to Biden's campaign.
The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, fell 0.1% in February from the previous month. On an annual basis, prices still went up 4.6%.
Excluding the more volatile measurements of food, energy and trade, the so-called core inflation ROSE 0.2% for the month.
The data comes a day after the Labor Department reported that the consumer price index, which measures the prices paid directly by consumers, rose 0.4% in February.
The different gauges point to inflation that is running well above the Fed's preferred 2% target, a troubling sign as the central bank has already raised rates eight straight times.
Despite recent turmoil within the banking sector, markets still expect the U.S. central bank to raise interest rates during its two-day meeting next week, with most traders pricing in a 25-basis-point hike.
--------------------
I predict they will revise the numbers in a month to show inflation rose more than is being reported, the same way they revised the employment numbers down last time. By the way, Biden revised his billionaire bank bailout and WE are now on the hook for bailing out the bullshit banks who made poor investment decisions. In other words, it's another tax being placed on us to help out the rich financial industry California donors who gave to Biden's campaign.
Re: Turn Out The Lights, The Party's Over
Posted by:
DayAfterYesterday
()
Date: March 16, 2023 03:09PM
Once again, another lie from Joe Biden when he claims the bank bailout won't cost taxpayers.
The FDIC doesn’t have enough funds to cover these losses. If it did, the Federal Reserve would not have had to establish an emergency lending fund on a Sunday evening to backstop the operation. The Fed can simply create (print) the money to cover the losses at these failed banks, which will cause inflation, or the FDIC can do what they did in the last financial crisis and simply get the money from the Treasury, which is a direct cost to taxpayers. Either the American people are on the hook through the hidden tax of inflation or explicit taxes sent to the Treasury.
----------
It amazes me that some of you STILL trust Joe Biden.
The FDIC doesn’t have enough funds to cover these losses. If it did, the Federal Reserve would not have had to establish an emergency lending fund on a Sunday evening to backstop the operation. The Fed can simply create (print) the money to cover the losses at these failed banks, which will cause inflation, or the FDIC can do what they did in the last financial crisis and simply get the money from the Treasury, which is a direct cost to taxpayers. Either the American people are on the hook through the hidden tax of inflation or explicit taxes sent to the Treasury.
----------
It amazes me that some of you STILL trust Joe Biden.
Re: Turn Out The Lights, The Party's Over
Posted by:
BaaadNews
()
Date: March 20, 2023 02:03PM
Bad news today...
The Fed’s most recent H.4.1 statement shows that the Fed has borrowed $41 billion to pay its cash losses, but these borrowings do not count as U.S. Treasury debt and are not counted against the congressional Treasury debt ceiling limit.
In the past week, the Fed’s financial statement shows it borrowed an additional $143 billion to FUND the FDIC’s BAILOUT of Silicon Valley Bank (SVB) and Signature Bank, even though the FDIC is supposed to fund bank bailouts using the deposit insurance fund and, if need be, by borrowing from the U.S. Treasury. Instead, the Fed borrowed these funds and lent them to the FDIC to keep these bank failures from reducing the Treasury’s cash balances. You may recall that the Treasury is already precluded from any additional borrowing under the current congressional debt limit.
The Fed is now losing billions of dollars each month. The losses are a consequence of the Fed’s huge investment portfolio that yields around 2 percent but costs about 4.6 percent to finance. Measured using generally accepted accounting principles, the Fed is now approximately BANKRUPT.
----------------------------
CNN and MSNBC are silent on this report. Joe Biden's administration fucks everyone once again.
The Fed’s most recent H.4.1 statement shows that the Fed has borrowed $41 billion to pay its cash losses, but these borrowings do not count as U.S. Treasury debt and are not counted against the congressional Treasury debt ceiling limit.
In the past week, the Fed’s financial statement shows it borrowed an additional $143 billion to FUND the FDIC’s BAILOUT of Silicon Valley Bank (SVB) and Signature Bank, even though the FDIC is supposed to fund bank bailouts using the deposit insurance fund and, if need be, by borrowing from the U.S. Treasury. Instead, the Fed borrowed these funds and lent them to the FDIC to keep these bank failures from reducing the Treasury’s cash balances. You may recall that the Treasury is already precluded from any additional borrowing under the current congressional debt limit.
The Fed is now losing billions of dollars each month. The losses are a consequence of the Fed’s huge investment portfolio that yields around 2 percent but costs about 4.6 percent to finance. Measured using generally accepted accounting principles, the Fed is now approximately BANKRUPT.
----------------------------
CNN and MSNBC are silent on this report. Joe Biden's administration fucks everyone once again.
Re: Turn Out The Lights, The Party's Over
Posted by:
March22Report
()
Date: March 22, 2023 03:16PM
NotGreatNews Wrote:
-------------------------------------------------------
> The fed WILL raise interest rates again. Count on
> a quarter point. Since the banks collapsed, people
> are freaked out and I think the fed raising a half
> point might just cause more panic.
>
> But still, that's an additional quarter point
> increase to mortgages, car loans, credit cards,
> etc. That's less company investments. That's more
> layoffs.
>
> The Joe Biden inflation tax will continue to take
> its toll...on you.
As predicted, a quarter point increase today
WASHINGTON - The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate a quarter-point.
Still, in its latest statement, the Fed included some language that indicated that its inflation fight remains far from complete.
Speaking at a news conference, Chair Jerome Powell said, "The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy."
The central bank’s benchmark short-term rate has now reached its highest level in 16 years. The new level will likely lead to higher costs for many loans, from mortgages and auto purchases to credit cards and corporate borrowing.
---------------------------------
Translated: Higher interest rates on your credit cards, new home mortgages, auto loans, etc without you getting a pay bump. The Joe Biden inflation tax will bend you over for a long time. At least one more rate hike will be coming, and then you will pay out the ass until Biden's fed slowly starts to lower the rates back down. This inflation tax will affect your bank accounts for years.
-------------------------------------------------------
> The fed WILL raise interest rates again. Count on
> a quarter point. Since the banks collapsed, people
> are freaked out and I think the fed raising a half
> point might just cause more panic.
>
> But still, that's an additional quarter point
> increase to mortgages, car loans, credit cards,
> etc. That's less company investments. That's more
> layoffs.
>
> The Joe Biden inflation tax will continue to take
> its toll...on you.
As predicted, a quarter point increase today
WASHINGTON - The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate a quarter-point.
Still, in its latest statement, the Fed included some language that indicated that its inflation fight remains far from complete.
Speaking at a news conference, Chair Jerome Powell said, "The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy."
The central bank’s benchmark short-term rate has now reached its highest level in 16 years. The new level will likely lead to higher costs for many loans, from mortgages and auto purchases to credit cards and corporate borrowing.
---------------------------------
Translated: Higher interest rates on your credit cards, new home mortgages, auto loans, etc without you getting a pay bump. The Joe Biden inflation tax will bend you over for a long time. At least one more rate hike will be coming, and then you will pay out the ass until Biden's fed slowly starts to lower the rates back down. This inflation tax will affect your bank accounts for years.
Re: Turn Out The Lights, The Party's Over
Posted by:
BraceYourself
()
Date: March 23, 2023 03:42PM
Reported today:
Brace yourself, the Fed is signalling that a three-quarter (9 month) recession will start in two weeks
So, even as Powell suggested this banking sector situation won’t spin out of control, the Fed is implicitly calling for a three-quarter recession starting two weeks from now. And we know the S&P 500 never ever bottoms when the recession is just getting started.
The next chapter in the story will shift from concerns over deposits to assets on regional bank balance sheets, notably office real estate, as we have been saying for some time. Powell is downplaying the risks in the financial system, which is more fragile than he realizes. Yes, yes, we all know this is not 2008/09 all over again, and perhaps the recent bank failures were outliers. But many banks have unrealized bond losses on their books and many also have a heavy dependence on uninsured deposits and acute concentration of commercial real estate and commercial and industrial loans on their balance sheets.
-----------------------------
Of course, Joe Biden will ignore media questions and try to redefine (again) what "recession" means. During that time, you'll be eating canned beans and hoping you aren't part of the next round of layoffs.
Brace yourself, the Fed is signalling that a three-quarter (9 month) recession will start in two weeks
So, even as Powell suggested this banking sector situation won’t spin out of control, the Fed is implicitly calling for a three-quarter recession starting two weeks from now. And we know the S&P 500 never ever bottoms when the recession is just getting started.
The next chapter in the story will shift from concerns over deposits to assets on regional bank balance sheets, notably office real estate, as we have been saying for some time. Powell is downplaying the risks in the financial system, which is more fragile than he realizes. Yes, yes, we all know this is not 2008/09 all over again, and perhaps the recent bank failures were outliers. But many banks have unrealized bond losses on their books and many also have a heavy dependence on uninsured deposits and acute concentration of commercial real estate and commercial and industrial loans on their balance sheets.
-----------------------------
Of course, Joe Biden will ignore media questions and try to redefine (again) what "recession" means. During that time, you'll be eating canned beans and hoping you aren't part of the next round of layoffs.