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Turn Out The Lights, The Party's Over
Posted by: LookingAhead ()
Date: June 06, 2021 11:29AM

The real war has already started. We are at the beginnings of a civil war. I don't know if it will actually become a physical war or not but the leadership is divided and so is the country. 13% of the population (blacks) has divided the rest. All it will take is a larger uprising and division within military leadership. This has happened twice. The first civil war was actually during our independence when many people in north america were actually british and part of the british military broke away and we fought the british to become the USA. The second civil war was fought over economics of slavery and political control of that system.

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

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Re: Turn Out The Lights, The Party's Over
Posted by: VeryVeryInteresting ()
Date: June 06, 2021 11:40AM

“Every great revolution is a civil war,” as David Armitage has recently remarked. That insight could change the way we think about the American Revolution. Contemporaries understood it that way—or at least, they did at first. David Ramsay, the first patriot historian of the war, held that the Revolution was “originally a civil war in the estimation of both parties.” Mercy Otis Warren wrote that the fires of civil war were kindled as early as the Boston massacre. But in the narratives of these historians, the moment the United States declared independence was the moment the conflict stopped being a civil war. It was no longer being fought within a single imperial polity. Now it was a war between two nations."

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Re: Turn Out The Lights, The Party's Over
Posted by: Just sayn ()
Date: June 06, 2021 01:13PM

LookingAhead Wrote:
-------------------------------------------------------
> The real war has already started. We are at the
> beginnings of a civil war. I don't know if it will
> actually become a physical war or not but the
> leadership is divided and so is the country. 13%
> of the population (blacks) has divided the rest.
> All it will take is a larger uprising and division
> within military leadership. This has happened
> twice. The first civil war was actually during our
> independence when many people in north america
> were actually british and part of the british
> military broke away and we fought the british to
> become the USA. The second civil war was fought
> over economics of slavery and political control of
> that system.
>
> 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


Tldr but the real war is the rich top 5% destroying the working class rights
Trump followers are their useful idiots
They laugh at you

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Re: Turn Out The Lights, The Party's Over
Posted by: Your The Idiot Commuist here ()
Date: June 06, 2021 01:52PM

If you ever get your wish and the millions of Red Chinese invade , your surprise as they enslave you and work you to death with daily beatdowns will be so amusing to them , No one has any use for you but your own selfish stupid leftist idiots who are the "woke"

Your side is mostly now the elitist rich with liability lawyers scammers and big tech multimillionaire/billionaires who support the Democrats

You want a dwindling middle class of conservatives a big well off to rich class of elitist Democrat liberals in power and a gigantic poverty class of low info voters to keep you in power for the welfare you dole out to keep them on your hopeless (D) plantation

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Re: Turn Out The Lights, The Party's Over
Posted by: The Really Funny Thing Is ()
Date: June 06, 2021 02:02PM

>Tldr but the real war is the rich top 5% destroying the working class rights
Trump followers are their useful idiots
They laugh at you

Dregs like you are the ones who are the low info impoverished ones living a ghetto like existence as you post right here

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Re: Turn Out The Lights, The Party's Over
Posted by: ppfvu ()
Date: June 06, 2021 02:09PM

It's true. Just look at Biden and the DNC's latest handout proposal to the wealthy as an "infrastructure bill".

Nothing like paying nursing homes via tax credits and vouchers, grocery stores and large food manufacturers via govt subsidies, universal basic income for doing nothing, big payments to universities that teach nothing, and big subsidies to Asia masked as green energy.

The modern mobocracy is the democrat party and the payers of protection money/tribute /graft are people who WORK, AKA the tax payer. Meanwhile the poors actually jump up and down thinking they're getting something for nothing from democrats. The DNC runs the inner-shitties and has for 75 years - mayors, alderman, city council, chiefs in every city department, etc.

And after 75 YEARS of handouts brought to you by the DNC, the poors are still poor. Why is that??

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Re: Turn Out The Lights, The Party's Over
Posted by: Democrats Can't Get Enough Poor ()
Date: June 06, 2021 05:34PM

So they have been inviting them to come over our southern US border for at least 20 years now, lately like there's no tomorrow just look at what its done to Fairfax and our schools . They need a endless supply of poor to keep them in power so the poor never get ahead , they just stay perpetually poor and that is really truly racist because the poor are disproportionately people of color !

There is a reasonable non racist remedy . Never vote for a Democrat

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Re: Turn Out The Lights, The Party's Over
Posted by: This Checks Out! ()
Date: June 06, 2021 06:01PM

ppfvu Wrote:
-------------------------------------------------------
> It's true. Just look at Biden and the DNC's latest
> handout proposal to the wealthy as an
> "infrastructure bill".
>
> Nothing like paying nursing homes via tax credits
> and vouchers, grocery stores and large food
> manufacturers via govt subsidies, universal basic
> income for doing nothing, big payments to
> universities that teach nothing, and big subsidies
> to Asia masked as green energy.
>
> The modern mobocracy is the democrat party and the
> payers of protection money/tribute /graft are
> people who WORK, AKA the tax payer. Meanwhile the
> poors actually jump up and down thinking they're
> getting something for nothing from democrats. The
> DNC runs the inner-shitties and has for 75 years -
> mayors, alderman, city council, chiefs in every
> city department, etc.
>
> And after 75 YEARS of handouts brought to you by
> the DNC, the poors are still poor. Why is that??


This Checks Out!

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Re: Turn Out The Lights, The Party's Over
Posted by: Uncle Adolf ()
Date: June 06, 2021 09:17PM

.
Attachments:
a81faa17a403bc89.png

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Re: Turn Out The Lights, The Party's Over
Posted by: The Poor The Poor The Poor ()
Date: June 06, 2021 10:53PM

Never enough poor to satisfy a Democrat for another low income welfare vote as USS USA slowly is going down burdened by overwhelming Democrat spend spend spend debt

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Re: Turn Out The Lights, The Party's Over
Posted by: Just askn ()
Date: June 07, 2021 09:07AM

Who got rich under trump and who didn't?

Hint we lost 25% of our coal jobs under trump

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Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: June 07, 2021 11:24AM

Just askn Wrote:
-------------------------------------------------------
> Who got rich under trump and who didn't?
>
> Hint we lost 25% of our coal jobs under trump

Getting rich doesn't follow party lines. Whether there is a Democrat or Republican president, the same people get rich and the same people stay poor.

"The U.S. has the highest level of income disparity of all industrialized nations, with over 40 million people living in poverty. Between 1980 and 2014 (the span of one generation as well as having both Democrat and Republican presidents), the income of the bottom 50% of U.S. earners (adjusted for inflation) basically stagnated while for the top 10% of earners, it increased 121% and for the top 1%, it increased 205%. The majority of America’s millennials today are worse off than their parents were at a similar age."

- in other words, Democrat and Republican leaders unanimously enact what is in favor of the wealthy but both try to convince you that they care about the poor and middle class

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Re: Turn Out The Lights, The Party's Over
Posted by: Jus Askin ()
Date: June 07, 2021 11:36AM

Hint we lost 25% of our coal jobs under trump

Of course Democrat's ran on shutting down coal mines and they have pushed federal regulations that has resulted in miners being laid off

But pay no mind to that because we lie our asses off about everything we do that's bad for America like passing blame on Trump for the Covid when we did nothing in congress to help in 2020 , then we lie and say we did the great things too like getting the Covid 19 vaccine out in record time when Trump did just that

Were Democrats of course

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Re: Turn Out The Lights, The Party's Over
Posted by: XOXOXOXO ()
Date: June 07, 2021 11:54AM

Jus Askin Wrote:
-------------------------------------------------------
> Hint we lost 25% of our coal jobs under trump
>
> Of course Democrat's ran on shutting down coal
> mines and they have pushed federal regulations
> that has resulted in miners being laid off
>
> But pay no mind to that because we lie our asses
> off about everything we do that's bad for America
> like passing blame on Trump for the Covid when we
> did nothing in congress to help in 2020 , then we
> lie and say we did the great things too like
> getting the Covid 19 vaccine out in record time
> when Trump did just that
>
> Were Democrats of course


It's obvious you didn't read the post above yours. It's ok. Everyone should just keep drinking the kool-aid that their preferred dishonest political party is putting out.

In the meantime, just turn a blind eye to the financial crisis that has already started. In a few years, you'll be eating roadkill and dried grass for dinner.

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Re: Turn Out The Lights, The Party's Over
Posted by: lying libfags lying again ()
Date: June 07, 2021 12:08PM

Just askn Wrote:
-------------------------------------------------------
> Who got rich under trump and who didn't?
>
> Hint we lost 25% of our coal jobs under trump


You can't turn around an industry after 8 years of decimating it. And it wasn't 25% of coal jobs under Trump. It was about 1000 jobs lost total from early 2017 to early 2020, out of a total number of about 50,000 coal mining jobs. Liar!

https://www.forbes.com/sites/chuckjones/2020/03/07/the-coal-industry-has-lost-almost-one-thousand-jobs-since-trump-became-president/?sh=64692c392e29

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Re: Turn Out The Lights, The Party's Over
Posted by: The Yepster ()
Date: June 07, 2021 12:09PM

Troofer Wrote:
-------------------------------------------------------

> - in other words, Democrat and Republican leaders
> unanimously enact what is in favor of the wealthy
> but both try to convince you that they care about
> the poor and middle class


yep

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Re: Turn Out The Lights, The Party's Over
Posted by:   ()
Date: June 07, 2021 12:10PM

2031. That's the year we implode. Be ready and don't say you weren't told. It's all been written.

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Re: Turn Out The Lights, The Party's Over
Posted by: HolyCrap ()
Date: June 07, 2021 01:28PM

Reported today. Ouch.

"By the end of Biden’s term in 2024, the debt ratio as a share of the nation’s economy is projected to reach nearly 114 percent. What’s more, the levels of federal spending would average 24.5 percent of the nation’s economy for a decade.

Let’s put that in historical context. Biden’s budget blows beyond the massive government spending during WWII and FDR’s New Deal when public debt measured to economic output reached 106 percent in 1946. Let’s also not forget it was Vice President Biden who promised us that President Obama’s trillion dollar stimulus package and its “shovel-ready” projects would lead us out of recession. Now he’s pitching a $6 trillion spending spree that calls for this Iowa farmer to stick to his guns on fiscal discipline. Otherwise, this administration will hook up Uncle Sam’s fire hose to the U.S. Treasury and fuel the fires of inflation that harm lower-income families and seniors on fixed incomes the most. And that puts the Federal Reserve in a pickle to hike interest rates to keep the lid on inflation, which in turn, would increase the government’s borrowing costs, quickly spiraling our country even deeper into debt."

The OP talked about inability to raise interest rates due to the high debt.

OP's post checks out.

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Re: Turn Out The Lights, The Party's Over
Posted by: All 4 Me doesn't work ()
Date: June 07, 2021 02:53PM

To blame the current problems in America on blacks displays the OP's blatant racism. It is certainly true that well over 50% of America's blacks are in favor of radically restructuring the country's social, economic and political system. Blacks are not the only ones who feel this way. Blacks do not constitute a majority of either those who feel this way or their leaders. In fact you cannot even say that it is a liberal thing. Many conservatives today are just as much in favor of a radical restructuring of the country's social, economic and political system. Those conservatives just have different goals for that restructuring.

America the great was the United States that came out of WW2. It was not a place where anyone who wanted to would be a great success. It was however a place where if you were white, male and physically fit, then if you worked hard and didn't make stupid mistakes you stood a reasonable chance of achieving a comfortable lifestyle regardless of where you started out. It worked mostly because the bulk of white male Americans, rich or poor, liberal or conservative, urban or rural, business owner or employee bought into a social contract which said "It isn't all about you. It is also about what is best for society". Most blacks and women in the 1960s were just asking to be included in that bargain.

Then in the 1980s we took that social contract and fed it into the shredder. Since then it has been every man, woman or whatever or themselves. If rich people and companies are able to insist that they be allowed to play the game in a way that benefits them, then why shouldn't poor people and "minorities" be allowed to do the same. If rich people insist that the government spend billions on benefits for them, then why can't poor people do the same.

The salvation of America won't happen by traditionalists insisting that the disgruntled shut up and accept the way things are. There are a hell of a lot more disgruntled out there than there are of you. Salvation requires the slaughtering some some of your golden cows.

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Re: Turn Out The Lights, The Party's Over
Posted by: ksdhfebhj ()
Date: June 07, 2021 03:20PM

All 4 Me doesn't work Wrote:
-------------------------------------------------------
> To blame the current problems in America on blacks
> displays the OP's blatant racism.

I don't think the op blamed blacks for our problems but he/she did use the racial issues as part of our division. Look at the whole post and its clear that there are many issues at play in what he/she called the perfect storm.

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Re: Turn Out The Lights, The Party's Over
Posted by: Yeah right…. ()
Date: June 07, 2021 03:50PM

I think this would be a wonderful opportunity to pause for a moment and give thanks for the great contributions of the black community to our society. Their peaceful and generous nature makes them ideal neighbors, lending testimony to their exceptional family values and parenting skills unrivaled by any other culture. Their child-rearing practices and skills mixed with their unparalleled work ethic are second to none. Their rational and logical thought toward circumstances coupled with their innate capability to de-escalate situations is to be envied and coveted. Their commitment to academic excellence enriches our schools and serves as an example to all who hope to achieve prominence as a people. Real estate values are fueled by the mix of African-Americans into an area due to their caring and respectful nature of these communities, an example of all they have achieved through their enthusiasm for self-improvement, hard work and a self-reliant nature. Without their industrious and creative drive, we would be poorer as a nation.

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Re: Turn Out The Lights, The Party's Over
Posted by: ObserverInChief ()
Date: June 07, 2021 03:54PM

Yeah right…. Wrote:
-------------------------------------------------------
> I think this would be a wonderful opportunity to
> pause for a moment and give thanks for the great
> contributions of the black community to our
> society. Their peaceful and generous nature makes
> them ideal neighbors, lending testimony to their
> exceptional family values and parenting skills
> unrivaled by any other culture. Their
> child-rearing practices and skills mixed with
> their unparalleled work ethic are second to none.
> Their rational and logical thought toward
> circumstances coupled with their innate capability
> to de-escalate situations is to be envied and
> coveted. Their commitment to academic excellence
> enriches our schools and serves as an example to
> all who hope to achieve prominence as a people.
> Real estate values are fueled by the mix of
> African-Americans into an area due to their caring
> and respectful nature of these communities, an
> example of all they have achieved through their
> enthusiasm for self-improvement, hard work and a
> self-reliant nature. Without their industrious and
> creative drive, we would be poorer as a nation.

LOL. Well-said.

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Re: Turn Out The Lights, The Party's Over
Posted by: TriggeredMasses ()
Date: June 07, 2021 05:09PM

ksdhfebhj Wrote:
-------------------------------------------------------
> All 4 Me doesn't work Wrote:
> --------------------------------------------------
> -----
> > To blame the current problems in America on
> blacks
> > displays the OP's blatant racism.
>
> I don't think the op blamed blacks for our
> problems but he/she did use the racial issues as
> part of our division. Look at the whole post and
> its clear that there are many issues at play in
> what he/she called the perfect storm.

People read what they have been conditioned to read and are generally blind to any rational thoughts

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Re: Turn Out The Lights, The Party's Over
Posted by: Got A Brain So Start Thinking ()
Date: June 07, 2021 05:48PM

>It's obvious you didn't read the post above yours. It's ok. Everyone should just keep drinking the kool-aid that their preferred dishonest political party is putting out.

Keep on sitting on the fence screwing yourself and the US people , today you must choose between the worst of two evils and never vote for that party, That worst evil is the lying scheming racial pandering no good DEMOCRATS all the way. The GOP has its share of self serving POS who are mostly Bush Rinos but there not anywhere close to the corruption of our constitution of the (D) People think they vote on principals, theres no principal to a Democrat a vote on principal is a vote for the worst of the worst the (D) How's the price of gas lumber and everything that's going up with principal , how about staying out of wars , sure thing principal will get the US right into one with the incompetent (D) running the country now

Trump was a billionaire and still is , he needed nothing , he ran to get this country back into the sanity of good government , the Democrat's were inflamed so badly its a god dammed surprise they all did not catch fire over their hate and their still about to catch like gas every time Trump pops up in their heads

Trump must be living in yours rent free too on principal , say its not so

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Re: Turn Out The Lights, The Party's Over
Posted by: Use it properly ()
Date: June 07, 2021 07:34PM

A brain misused is worse than a brain underused.

Donald Trump was the worst president to serve in my lifetime. Since I lived through the Carter years that is saying something. Now that he is no longer in office I don't give him a thought. That you still revere the guy despite him spending four years showing how utterly incompetent he is says all I need to know about you.

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Re: Turn Out The Lights, The Party's Over
Posted by: Truth is truth ()
Date: June 07, 2021 08:17PM

Got A Brain So Start Thinking Wrote:
-------------------------------------------------------
> >It's obvious you didn't read the post above
> yours. It's ok. Everyone should just keep drinking
> the kool-aid that their preferred dishonest
> political party is putting out.
>
> Keep on sitting on the fence screwing yourself and
> the US people , today you must choose between the
> worst of two evils and never vote for that party,
> That worst evil is the lying scheming racial
> pandering no good DEMOCRATS all the way. The GOP
> has its share of self serving POS who are mostly
> Bush Rinos but there not anywhere close to the
> corruption of our constitution of the (D) People
> think they vote on principals, theres no principal
> to a Democrat a vote on principal is a vote for
> the worst of the worst the (D) How's the price of
> gas lumber and everything that's going up with
> principal , how about staying out of wars , sure
> thing principal will get the US right into one
> with the incompetent (D) running the country now
>
> Trump was a billionaire and still is , he needed
> nothing , he ran to get this country back into the
> sanity of good government , the Democrat's were
> inflamed so badly its a god dammed surprise they
> all did not catch fire over their hate and their
> still about to catch like gas every time Trump
> pops up in their heads
>
> Trump must be living in yours rent free too on
> principal , say its not so


Let's just be real
This is about whites wanting to install apartheid(sp) in America because they are getting out numbered and left behind
Folks should have studied more, and been willing to work in the fields and of course had more babies

Saying college is for libs and manual labor is for spiccs hasn't worked out so well

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Re: Turn Out The Lights, The Party's Over
Posted by: Nig Nogs Party All The Time ()
Date: June 07, 2021 10:28PM

LookingAhead Wrote: https://youtu.be/iWa-6g-TbgI
-------------------------------------------------------
> The real war has already started. We are at the
> beginnings of a civil war. I don't know if it will
> actually become a physical war or not but the
> leadership is divided and so is the country. 13%
> of the population (blacks) has divided the rest.
> All it will take is a larger uprising and division
> within military leadership. This has happened
> twice. The first civil war was actually during our
> independence when many people in north america
> were actually british and part of the british
> military broke away and we fought the british to
> become the USA. The second civil war was fought
> over economics of slavery and political control of
> that system.
>
> 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

https://youtu.be/iWa-6g-TbgI
Attachments:
763E81CB-DE19-43A2-BFCE-9AFCD5846DE3.gif
18A9A16F-F9F1-48D8-8275-5753D1F2A30A.jpeg
F9785D66-910F-4659-94E7-87D154930082.gif
D03893B0-0E14-401D-98D3-6A3F3CFA6E00.gif
B40DBAF9-3652-4A95-BBA5-3D85125D0AC4.gif

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Re: Turn Out The Lights, The Party's Over
Posted by: Truth Hurts Liberals ()
Date: June 07, 2021 11:54PM

>The salvation of America won't happen by traditionalists insisting that the disgruntled shut up and accept the way things are. There are a hell of a lot more disgruntled out there than there are of you. Salvation requires the slaughtering some some of your golden cows.

The salvation of America starts with deporting all illegals and massively reducing the number of legal immigrants to only allow those who we need with job skills that can be self sufficient in the US today

The poor the poor ! That's all you hear from the Democrats as they continue to allow poor illegals into the USA who for the great majority will be on welfare the minute they become parents of an American citizen as well as the legal leech immigrant who come here for our welfare and they now number in the millions and reliably vote (D) once they become US citizens for the endless welfare

In the 1960s a US war on poverty was started , it will never end , never be won and has been forgotten because the Democrats can't get enough poor into the USA as fast as they want to insure votes for the (D) to gain complete control of the country to steer it toward a socialist then communist state. Your US rights as a citizen are at risk with these out of control leftists today that have no respect for the constitution as they scream about rules of law while they ignore so many rules of law to weaken America. The ones joining in on this with them over "systemic racism ,climate change and other leftist decisive garbage are the greatest fools and stooges in the history of mankind

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Re: Turn Out The Lights, The Party's Over
Posted by: If Have A Brain Use IT And Think ()
Date: June 08, 2021 12:23AM

>A brain misused is worse than a brain underused.

Think about the ways Democrats are trying to ruin your country and stop being their stooge looking for ways to play their race cards

. I was sucked into voting for Jimmy Carter a good man and a somewhat weak president for "the change" , JOE Biden is not even a good man and he is a far worse and weaker president then Jimmy Carter. Trump was a great strong president who looked out for the American people which made you and the left show how much you truly hate the people of the USA with your hypocritical hate of Trump while forgiving Joes huge faults that far outshadow any other presidents .If Trump had a strong Republican congress not riddled with weak jealous Bush Rinos he would have got many more projects good for America on the fast track to completion and the American people would adore him for it, reelecting him with ease

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Re: Turn Out The Lights, The Party's Over
Posted by: Use it properly ()
Date: June 08, 2021 09:00AM

I also think about all the ways the Republicans are trying to ruin my county, and the (supposedly) non-Republican Trumpers. It isn't a battle between GOOD and EVIL. It is a battle between differing versions of blatant self interest and hypocrisy.

Donald Trump was not a great, strong president who looked out for the American people. He was a bombastic president, woefully unprepared for the job and unwilling to learn, who looked out for himself. As I said before that you still revere the guy says all I need to know about you.

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Re: Turn Out The Lights, The Party's Over
Posted by: unipt ()
Date: June 08, 2021 10:37AM

Trump = America First
Uniparty = America Last

That's just fact. It's not about Trump. It's about America First.

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Re: Turn Out The Lights, The Party's Over
Posted by: whackedoutpeeps ()
Date: June 08, 2021 03:10PM

its a fact its been over for a while now, its just picking up speed

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Re: Turn Out The Lights, The Party's Over
Posted by: Low Info People Don't Care ()
Date: June 08, 2021 03:32PM

They are far too uninformed and are now waiting for legal weed on 7-1-21 in Virginia,if they are people of color they parrot what the leftist masters tell them to think, even if they are the well off privileged white liberal elites with advanced college degrees they do the same which really comes down to what a waste of money higher education is on them because they are voting for their own self destruction in due time

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Re: Turn Out The Lights, The Party's Over
Posted by: kwfewgfg ()
Date: June 08, 2021 04:12PM

Low Info People Don't Care Wrote:
-------------------------------------------------------
> They are far too uninformed and are now waiting
> for legal weed on 7-1-21 in Virginia,if they are
> people of color they parrot what the leftist
> masters tell them to think, even if they are the
> well off privileged white liberal elites with
> advanced college degrees they do the same which
> really comes down to what a waste of money higher
> education is on them because they are voting for
> their own self destruction in due time


Agree in overall message with one change. There are sheep on both sides.

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Re: Turn Out The Lights, The Party's Over
Posted by: True Because ()
Date: June 08, 2021 05:40PM

The Democrats of all types spend their lives as screamers because conservatives are living in their heads stopping them from their socialist dreams

The conservitives spend their lives having fun with the money they worked hard to earn

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Re: Turn Out The Lights, The Party's Over
Posted by: MarketWatch ()
Date: June 09, 2021 12:28PM

Another day, global concerns rise about inflation and the every-day person is gonna take it up the ass with prices and job losses if it continues.

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Re: Turn Out The Lights, The Party's Over
Posted by: lsefhrhervjek ()
Date: June 10, 2021 03:29PM

For those of you who won't read, I will summarize: we are fucked

Just reported June 7 by Deutsche Bank:

According to the report, “US macro policy and, indeed, the very role of government in the economy, is undergoing its biggest shift in direction in 40 years. In turn we are concerned that it will bring about uncomfortable levels of inflation.”

As Deutsche Bank notes, “The current fiscal stimulus is more comparable with that seen around WWII. Then, US deficits remained between 15-30% for four years. While there are many significant differences between the pandemic and WWII we would note that annual inflation was 8.4%, 14.6% and 7.7% in 1946, 1947 and 1948 after the economy normalised and pent-up demand was released.”

The Deutsche Bank report concludes with this dire warning, “We worry that inflation will make a comeback. Few still remember how our societies and economies were threatened by high inflation 50 years ago. The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended. An explosive growth in debt financed largely by central banks is likely to lead to higher inflation. … Rising prices will touch everyone. The effects could be devastating, particularly for the most vulnerable in society. Sadly, when central banks do act at this stage, they will be forced into abrupt policy change which will only make it harder for policymakers to achieve the social goals that our societies need.”

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: The Nutshell Doom Analyst ()
Date: June 10, 2021 04:41PM

Democrats have super screwed the American people for decades now giving our money away to greedy world nations that we rebuilt with trillions after a few asshole racist countries started trying to blow the world up 82 years ago

We could have handled that even though the US got no respect from these peoples who let us do the dirty job of defending the free world from communism which they and our Democrats now want as Democrats call their harmful socialist programs and dreams "Democracy" to consume all of us , while The world the US rebuilt got richer and more well off today then we are to the point they look down at us with scorn , they hated President Trump for his America first stance especially over NATO but JOE is no favorite as they think he is nothing but an foolish old Democrat hack and a stooge

Enter the Chinese Covid 19 virus which Democrats resisted every good deed President Trump did to put the American people first of every race and religion as they threw race cards at his efforts to contain the virus and laughed at him on their leftist "news" , "shit-u-ation" comedy's and no talent late night shows that brain wipe millions to vote (D) to be with the "popular crowd that hates Trump and the GOP " a programed emotion which the leftist media jackals exploit successfully as Democrats resisted every move Trump made and did nothing to even try to stop the spread of C19 in the USA to pass blame on Trump that "he did it" with their lying media

No comes JOE who thinks he's got a "mandate" with no senate majority and a slim majority in the house as he lamely attempts more half ass social engineering programs to ruin the USA by insolvency like Obama started . Programs in JOES world controlled by his leftist masters which are nothing but race pandering and way out eviro freak paybacks for votes so JOE can brag he's the hero if he gets his way to ruin as this county is the deepest debt crisis its ever been in and will be fighting for its life to dig its way out

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Webster English Interpreter ()
Date: June 10, 2021 04:48PM

Ahh a "Shit-U-Ation" is anything Democrats get involved in or propose , It's going on here in Virginia right now as MCAWFUL will be the Democrat running for governor

That's a real example of a very bad Shit-U-Ation for Virginia

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Re: Turn Out The Lights, The Party's Over
Posted by: Prospective Felon And Murderer ()
Date: June 10, 2021 04:51PM

For me it's great news , my con artist comrades drug pushers pickpockets and thieves agree all the way about it

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Registered Democrat ()
Date: June 10, 2021 05:12PM

So what about inflation and high interest bank loans and way high credit cards, so what that house loans were 9 and 10 % so what! 50 years ago I got a free toaster with my new savings acct and it paid 6 % interest. I also had a NRA savings certificate for 2500 dollars I held it for 10 years and got a new Weatherby 460 magnum to hunt elephants right before they outlawed ivory. Im a big winner of inflation !

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Re: Turn Out The Lights, The Party's Over
Posted by: LOL At Fools ()
Date: June 10, 2021 06:00PM

>The Nutshell Doom Analyst ()

If it wasn't for Democrats you would not have shit and you know it idiot!
Attachments:
trailertrash.jfif

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 89p89p ()
Date: June 10, 2021 10:15PM

I bet hiring a bucket loader is the HIGH COST and longer hours way to get those homes into a dumpster

MUST BE A DEMOCRAT RUN PROJECT

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Re: Turn Out The Lights, The Party's Over
Posted by: How Those ARM Loans ()
Date: June 10, 2021 10:29PM

Ready to see Democrat voters thrown out of their homes for their JOE vote

Or "principals" again , then there's the principled RINOS who hated on Trump and went with JOE who also will be losing homes with their ARM'S

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Re: Turn Out The Lights, The Party's Over
Posted by: That's Funny ()
Date: June 10, 2021 10:31PM

When the RINOS get the shaft
Attachments:
thatsfunny.gif

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Re: Turn Out The Lights, The Party's Over
Posted by: LookingGlass ()
Date: June 10, 2021 10:33PM

It would be smart to be intelligently prepared ie freezer full of food, canned foods (beans, meats, etc), (unhealthy but sustainable) boxed foods like mac/cheese or beans and rice

Ask any 55+ year old adult about 1980, 13% inflation, prime interest rate of 20%, and unemployment rate fluctuating between 11-20%. It was the worst recession the US has ever had and the current situation is setting us up for something far worse.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: ivysdad ()
Date: June 10, 2021 10:44PM

LookingGlass Wrote:
-------------------------------------------------------
> It would be smart to be intelligently prepared ie
> freezer full of food, canned foods (beans, meats,
> etc), (unhealthy but sustainable) boxed foods like
> mac/cheese or beans and rice
>
> Ask any 55+ year old adult about 1980, 13%
> inflation, prime interest rate of 20%, and
> unemployment rate fluctuating between 11-20%. It
> was the worst recession the US has ever had and
> the current situation is setting us up for
> something far worse.

In my 63 years, the last 4 years have been the worst 4 years hands down. The 1980 recession was nothing. Everyone could get jobs, degree or no degree, the economy rebounded quickly, and we had 8 years of poking fun at Ronnie and snorting coke off of Nancy's face. The short lived gas crisis was no crisis at all, especially for me driving a company car.

Trump's tenure will be remembered as it was, and history will not be kind to the worst president of the 21st century. Deny if you like but don't any of you have a life?

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: June 10, 2021 10:54PM

ivysdad Wrote:
-------------------------------------------------------

> In my 63 years, the last 4 years have been the
> worst 4 years hands down. The 1980 recession was
> nothing. Everyone could get jobs, degree or no
> degree, the economy rebounded quickly, and we had
> 8 years of poking fun at Ronnie and snorting coke
> off of Nancy's face. The short lived gas crisis
> was no crisis at all, especially for me driving a
> company car.
>
> Trump's tenure will be remembered as it was, and
> history will not be kind to the worst president of
> the 21st century. Deny if you like but don't any
> of you have a life?

You said nothing honest in your post. Anyone can do a search for worst recession Carter.

And Trump is gone so now you can focus on the current president, though I am confident you will defend him even if he got caught on camera fondling a kid.

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Re: Turn Out The Lights, The Party's Over
Posted by: Registered Democrat ()
Date: June 10, 2021 10:54PM

Can never happen with Joe in , with his strong economy and solid business experience our border secured far better then in years , black unemployment at a 50 year low plus his sterling character dealing with Russia and China his strong showing when he met with Kim Jong Un leader of North Korea keeping the US military strong and the US out of new wars getting a vaccine out in production in record time cutting overbearing red tape to save lives

WTF am I saying ! That Was TRUMP ! WITH JOE THE STOOGE OR KAMAL THE LAUGHING CLOWN WERE F..Ked !
Attachments:
onhisknee.jfif
clown.gif

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Re: Turn Out The Lights, The Party's Over
Posted by: PosterInChief ()
Date: June 10, 2021 10:59PM

ivysdad Wrote:
-------------------------------------------------------
> LookingGlass Wrote:
> --------------------------------------------------
> -----
> > It would be smart to be intelligently prepared
> ie
> > freezer full of food, canned foods (beans,
> meats,
> > etc), (unhealthy but sustainable) boxed foods
> like
> > mac/cheese or beans and rice
> >
> > Ask any 55+ year old adult about 1980, 13%
> > inflation, prime interest rate of 20%, and
> > unemployment rate fluctuating between 11-20%.
> It
> > was the worst recession the US has ever had and
> > the current situation is setting us up for
> > something far worse.
>
> In my 63 years, the last 4 years have been the
> worst 4 years hands down. The 1980 recession was
> nothing. Everyone could get jobs, degree or no
> degree, the economy rebounded quickly, and we had
> 8 years of poking fun at Ronnie and snorting coke
> off of Nancy's face. The short lived gas crisis
> was no crisis at all, especially for me driving a
> company car.
>
> Trump's tenure will be remembered as it was, and
> history will not be kind to the worst president of
> the 21st century. Deny if you like but don't any
> of you have a life?


here you go dickweed, because you're too lazy to do a search

https://www.federalreservehistory.org/essays/recession-of-1981-82

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Re: Turn Out The Lights, The Party's Over
Posted by: Ya Know ()
Date: June 10, 2021 11:05PM

Democrats are born and breed to lie

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Re: Turn Out The Lights, The Party's Over
Posted by: rtwtrwewr ()
Date: June 12, 2021 02:48PM


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Re: Turn Out The Lights, The Party's Over
Posted by: Its ALL GONE TO HELL WITH JOE ()
Date: June 12, 2021 06:26PM

The worst president of all time WEAK Pandering Senseless JOE BIDEN (DEMOCRAT)

Go fill up with JOE gas and PAY$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

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Re: Turn Out The Lights, The Party's Over
Posted by: WIN ()
Date: June 13, 2021 06:45AM

W.I.N. Whip Inflation Now!

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Re: Turn Out The Lights, The Party's Over
Posted by: Hunter's laptop ()
Date: June 13, 2021 09:43AM

Its ALL GONE TO HELL WITH JOE Wrote:
-------------------------------------------------------
> The worst president of all time WEAK Pandering
> Senseless JOE BIDEN (DEMOCRAT)
>
> Go fill up with JOE gas and
> PAY$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$


This is true. Carter was a horrible president, but a nice guy. Xiden is a horrible president and a horrible guy as well. Carter oversaw the worst economy since the Great Depression. Xiden will surpass Carter's ineptitude for sure and dig us a hole that we won't be able to get out of. As long as Hunter's getting his $50 million a year and Xiden's getting his 10%, it's all good though.

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Re: Turn Out The Lights, The Party's Over
Posted by: JOE IS Con-sumed With Pandering ()
Date: June 13, 2021 02:48PM

The people where CONNED by the leftist lying and Democrat loving media manufactured hate of President Trump

NOW WE all pay for the weak pandering fool known as JOE as he flounders about pandering to race and every leftist and un American cause he can find

Less then 5 months in and JOES legacy is already formed : Worst US President Of All Time JOE BIDEN

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Re: Turn Out The Lights, The Party's Over
Posted by: Ya You Know ()
Date: June 13, 2021 03:00PM

Joes the 46th president , 46 that's at least the highest number he will be on the list of any lousy ,so so , ok , decent , good or great president , While Trump will up in the top 10 forever of the great US Presidents !

The gigantic difference is Trump looks out for AMERICANS FIRST .

JOE looks out For JOE as a race and foreign nationals panderer because JOE cant tell what's right vs wrong anymore he just likes being the lefts presidential puppet ! JOE LOOKS OUT FOR AMERICA LAST !

WHILE KAMAL IS BECOMING HYSTERICAL LAUGHING AT IT ALL LIKE ITS JOES JOKE ON US
Attachments:
laughingkamal.gif

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Re: Turn Out The Lights, The Party's Over
Posted by: Crystal Ball Owner ()
Date: June 13, 2021 03:05PM

My ball says Joe Biden will be the first US president to take the walk of shame after being impeached and removed for office in 2023 . Then we have to deal with the Joker a while till Trump comes back and gets us out of the insane danger zone and back to sanity and prosperity
Attachments:
Kamalthejoker.jfif

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Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: June 13, 2021 06:06PM

Crystal Ball Owner Wrote:
-------------------------------------------------------
> My ball says Joe Biden will be the first US
> president to take the walk of shame after being
> impeached and removed for office in 2023 . Then we
> have to deal with the Joker a while till Trump
> comes back and gets us out of the insane danger
> zone and back to sanity and prosperity

Been saying this since the beginning. Alzheimers Joe getting elected was not about him, but rather about getting him to quit due to "health issues" (ie braindead) and let a woman take over. It's all part of the social agenda to have a woman as president.

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Re: Turn Out The Lights, The Party's Over
Posted by: kaehfggw ()
Date: June 14, 2021 08:05AM

Ya You Know Wrote:
-------------------------------------------------------

> WHILE KAMAL IS BECOMING HYSTERICAL LAUGHING AT IT
> ALL LIKE ITS JOES JOKE ON US

My opinion is that Kameltoe has a mental disorder called Pseudobulbar, a condition that's characterized by episodes of sudden uncontrollable and inappropriate laughing. Either that, or she's just a psychotic criminal put in place to destroy freedom.

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Re: Turn Out The Lights, The Party's Over
Posted by: Xi_Jinping ()
Date: June 14, 2021 08:50AM

China is watching. You will soon default on your interest payments due to your debt. We will then have a serious talk with the US. We own part of your debt. We are part owner of the United States. When you default on your mortgage, your house is taken from you by the bank. We are the bank. And we will be taking your country.

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Re: Turn Out The Lights, The Party's Over
Posted by: FCPS-Teacher ()
Date: June 14, 2021 11:22AM

It importent to teach kids to learn the systtem of governments to get thruogh this future because they can be succes and forget china becuz china teaches math but math is not importent when filling form to get benefit

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Re: Turn Out The Lights, The Party's Over
Posted by: " insane danger zone " ()
Date: June 14, 2021 12:58PM

Any place Democrats are in control is the insane danger zone, prove me wrong I'll prove Im right with higher crime stats and welfare rolls illegals drugs perverts and freaks the works

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Re: Turn Out The Lights, The Party's Over
Posted by: ClackityClack ()
Date: June 14, 2021 01:05PM

FCPS-Teacher Wrote:
-------------------------------------------------------
> It importent to teach kids to learn the systtem of
> governments to get thruogh this future because
> they can be succes and forget china becuz china
> teaches math but math is not importent when
> filling form to get benefit

Holy fuck I hope you're not really a teacher. You sound like a retard that failed out of the 1st grade. Parents, you should be worried.

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Re: Turn Out The Lights, The Party's Over
Posted by: TheColdTruth ()
Date: June 14, 2021 08:07PM

FCPS-Teacher Wrote:
-------------------------------------------------------
> It importent to teach kids to learn the systtem of
> governments to get thruogh this future because
> they can be succes and forget china becuz china
> teaches math but math is not importent when
> filling form to get benefit

More proof that it's over for the US. The border is non-existent despite clear laws to defend it. The US is now filled with handout addicts, potheads, people just hoping for their time to be offended, social media bullshit lies (on both political sides), people refusing to work because handouts pay better, and a government that will go to every extreme to keep the votes coming their way.

The ONLY thing that saves the US is the ability to print money. Of course, that devalues your current money. In the end, the dollar will be abandoned as the standard and the US will crumble. You will ask for a payout but all they will give you is a shrug. Your kids' futures are piles of shit at this point.

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Re: Turn Out The Lights, The Party's Over
Posted by: JOE THE PANDERER IS SO WEAK ()
Date: June 14, 2021 10:26PM

He makes Neville Chamberlain look like Genghis Khan

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Re: Turn Out The Lights, The Party's Over
Posted by: Registered Democrat ()
Date: June 14, 2021 10:33PM

Pandering and weakness is one of our core values . Why face anything like Chinas military built up when you can hide in the basement and tell all your weak pandering and stupid friends on your side fairy tales about climate change

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Re: Turn Out The Lights, The Party's Over
Posted by: The Founders Speak Out ()
Date: June 14, 2021 10:42PM

The weak take the people ability to defend their county away by taking guns despite constitutional protections, gun that can be used to defend the US homeland against invaders by millions of brave American patriots , but once their gone and the constitution is broken the nation will be very weak on the home front,

When creating an US armed force of 4 million men at arms in the military would be very difficult and take time that does not exist it is insane to deprive the people of their arms to disarm 20 million and more Americans who will join with the armed forces to defend homeland USA

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Re: Turn Out The Lights, The Party's Over
Posted by: Ya You Know ()
Date: June 14, 2021 10:45PM

Besides so many of those drafted who are liberal Democrats will flee to Canada and Mexico , It happened before during the Vietnam War

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Re: Turn Out The Lights, The Party's Over
Posted by: RERERERE ()
Date: June 15, 2021 08:16AM

..
Attachments:
60a012ca146b2.jpeg

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Re: Turn Out The Lights, The Party's Over
Posted by: Red wave a coming ()
Date: June 15, 2021 11:34AM

Biden and Harris,Slow and Ho, are the best reasons to bring Trump back. You couldn't ask for a better team to do that. I think about that every fill up at the gas pump, and every time I see some illegal piss in the street. Thanks Joe and Ho. there will be a Red tsunami at the mid terms, it can not happen soon enough! Kick em all to the curb.

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Re: Turn Out The Lights, The Party's Over
Posted by: DeSantis Guy ()
Date: June 15, 2021 11:42AM

Troofer Wrote:
-------------------------------------------------------
> Crystal Ball Owner Wrote:
> --------------------------------------------------
> -----
> > My ball says Joe Biden will be the first US
> > president to take the walk of shame after being
> > impeached and removed for office in 2023 . Then
> we
> > have to deal with the Joker a while till Trump
> > comes back and gets us out of the insane danger
> > zone and back to sanity and prosperity
>
> Been saying this since the beginning. Alzheimers
> Joe getting elected was not about him, but rather
> about getting him to quit due to "health issues"
> (ie braindead) and let a woman take over. It's all
> part of the social agenda to have a woman as
> president.


Xiden wasn't elected. Trump was. Xiden was installed by the uniparty and media to keep Trump from setting them back 30 years in his second term. They spent decades building up their graft and sleazy ways. Trump was about to blow that up.

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Re: Turn Out The Lights, The Party's Over
Posted by: KingRedPill ()
Date: June 15, 2021 12:49PM

At this point, it doesn't matter who's in office or who was elected. Both parties are nothing more than elevated organized crime.

Whoever wins/steals/buys the next election is going to inherit a disaster bigger than anything the United States (and world) has ever seen.

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Re: Turn Out The Lights, The Party's Over
Posted by: weel  ()
Date: June 15, 2021 02:28PM

KingRedPill Wrote:
-------------------------------------------------------
> At this point, it doesn't matter who's in office
> or who was elected. Both parties are nothing more
> than elevated organized crime.
>
> Whoever wins/steals/buys the next election is
> going to inherit a disaster bigger than anything
> the United States (and world) has ever seen.


Thus the term "uniparty", just two sides of the same coin. They are the political wing of the deepstate.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 88RP88 ()
Date: June 16, 2021 12:31PM

weel  Wrote:
-------------------------------------------------------
> KingRedPill Wrote:
> --------------------------------------------------
> -----
> > At this point, it doesn't matter who's in
> office
> > or who was elected. Both parties are nothing
> more
> > than elevated organized crime.
> >
> > Whoever wins/steals/buys the next election is
> > going to inherit a disaster bigger than
> anything
> > the United States (and world) has ever seen.
>
>
> Thus the term "uniparty", just two sides of the
> same coin. They are the political wing of the
> deepstate.


All politicians, despite whatever flavor punch you drank, are criminals and all deserve to be lynched. They make policy based on what benefits them, not what benefits the country.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: FedChief ()
Date: June 16, 2021 04:24PM

It's started, as predicted...

Today:
The Federal Reserve on Wednesday considerably raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates. However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program, though Fed Chairman Jerome Powell acknowledged that officials discussed the issue at the meeting. The raised expectations come amid the biggest rise in consumer prices in about 13 years.

Markets tanked on the news.

And yet, there are still people saying the inflation isn't bad or that it will not last long. We will see. In any event, get your non-adjustable mortgage now. The fed will start raising rates incrementally.

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Re: Turn Out The Lights, The Party's Over
Posted by: Grandma Ratchet ()
Date: June 16, 2021 06:04PM

I beg to differ. The party is just beginning only this time it's the people's turn
to do the celebrating.

We have been slaves so long, brainwashed so long, worked to death so long we don't know how to be happy anymore. No more negative. Only positive.

We will be happy. This is not left or right, color of skin, it's WE THE PEOPLE. ALL THE PEOPLE. And we're long overdue for some good living.

Everyone will have what they need and want including good health.

All good memories, all the bad memories erased. Loving one another like we should.

True freedom and abundance about to become real.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Jgfthjkjvd ()
Date: June 17, 2021 12:09AM

Grandma Ratchet Wrote:
-------------------------------------------------------
> I beg to differ. The party is just beginning only
> this time it's the people's turn
> to do the celebrating.
>
> We have been slaves so long, brainwashed so long,
> worked to death so long we don't know how to be
> happy anymore. No more negative. Only positive.
>
> We will be happy. This is not left or right, color
> of skin, it's WE THE PEOPLE. ALL THE PEOPLE. And
> we're long overdue for some good living.
>
> Everyone will have what they need and want
> including good health.
>
> All good memories, all the bad memories erased.
> Loving one another like we should.
>
> True freedom and abundance about to become real.

Wow, you on some great drugs

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: CheeseBoard ()
Date: June 17, 2021 08:44AM

Grandma Ratchet Wrote:
-------------------------------------------------------

> All good memories, all the bad memories erased.
> Loving one another like we should.
>
> True freedom and abundance about to become real.


I see you have been assimilated perfectly. Enjoy your cheese.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: LookingAhead ()
Date: July 13, 2021 09:26AM

Reported today:

The numbers: The cost of living leaped in June by the largest amount since 2008 as inflation spread more broadly through the U.S. economy, raising fresh questions about whether the spike in prices will subside as quickly as the Federal Reserve predicts.

The consumer price index climbed 0.9% last month, the government said Tuesday. The cost of used cars accounted for more than one-third of the increase, but prices for food, energy, clothing, plane tickets and shelter also rose sharply.

The increase easily exceeded forecasts. Economists polled by The Wall Street Journal had estimated a 0.5% advance.

The rate of inflation in the 12 months ended in June climbed to 5.4% from 5% in the prior month. The last time prices rose that fast was in 2008, when oil hit a record $150 a barrel.

Another closely watched measure of inflation that omits volatile food and energy also rose 0.9% In June. The 12-month rate increased to 4.5% from 3.8% and stood at a 29-year high.

Yet even the Fed admits it was caught off guard by how high inflation has risen. There’s a risk inflation could stay higher for longer than it expected, according to minutes of the Fed’s most recent strategy session.
.........................

It's gonna get a lot worse. You have been warned. ;)

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: notgood ()
Date: July 13, 2021 10:35AM

HolyCrap Wrote:
-------------------------------------------------------
> Reported today. Ouch.
>
> "By the end of Biden’s term in 2024, the debt
> ratio as a share of the nation’s economy is
> projected to reach nearly 114 percent. What’s
> more, the levels of federal spending would average
> 24.5 percent of the nation’s economy for a
> decade.
>
> Let’s put that in historical context. Biden’s
> budget blows beyond the massive government
> spending during WWII and FDR’s New Deal when
> public debt measured to economic output reached
> 106 percent in 1946. Let’s also not forget it
> was Vice President Biden who promised us that
> President Obama’s trillion dollar stimulus
> package and its “shovel-ready” projects would
> lead us out of recession. Now he’s pitching a $6
> trillion spending spree that calls for this Iowa
> farmer to stick to his guns on fiscal discipline.
> Otherwise, this administration will hook up Uncle
> Sam’s fire hose to the U.S. Treasury and fuel
> the fires of inflation that harm lower-income
> families and seniors on fixed incomes the most.
> And that puts the Federal Reserve in a pickle to
> hike interest rates to keep the lid on inflation,
> which in turn, would increase the government’s
> borrowing costs, quickly spiraling our country
> even deeper into debt."
>
> The OP talked about inability to raise interest
> rates due to the high debt.
>
> OP's post checks out.

CNN just posted:

But if prices continue to exceed expectations, it could prompt the central bank to raise interest rates in an attempt to cool off the economy.

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Re: Turn Out The Lights, The Party's Over
Posted by: Holysmolies ()
Date: July 13, 2021 10:39AM

Washington Post:

This bad news comes as other assessments also point to higher inflation ahead. Increased globalization likely put downward pressure on inflation as more goods were purchased from countries using cheaper labor. The pandemic and political pressure on China, however, may be reversing that pattern. If true, that would mean higher prices for consumers even as businesses bring some jobs back to the United States or high-wage countries. A recent survey of economists by the Wall Street Journal found that they expect inflation to be higher than 3 percent in the fourth quarter of this year, while a survey of Americans released Monday by the New York Federal Reserve Bank found they thought inflation next year would be 4.8 percent. Both sets of expectations were sharply up from identical surveys conducted just a month earlier.

Economists and Americans are both likely to be still underestimating future inflation. We have experienced low levels of inflation for so long that it’s hard for most people to imagine things can change so rapidly. But something did change rapidly during the pandemic: the amount of money that the government handed out to people who didn’t need it. Round after round of stimulus checks sent to most Americans regardless of need have translated to skyrocketing personal incomes even as millions were out of work. Data from the St. Louis Federal Reserve Bank clearly shows that the checks gave Americans billions of dollars more per month than they ever had before. Much of that money was saved, but all that means is that most Americans can now afford higher prices. Those who didn’t lose their jobs during the pandemic can and will shell out more for everything, drawing down their savings in the process.

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Re: Turn Out The Lights, The Party's Over
Posted by: 9e3ph9e3ph ()
Date: July 13, 2021 03:36PM

LookingAhead Wrote:
-------------------------------------------------------
> The real war has already started. We are at the
> beginnings of a civil war. I don't know if it will
> actually become a physical war or not but the
> leadership is divided and so is the country. 13%
> of the population (blacks) has divided the rest.
> All it will take is a larger uprising and division
> within military leadership. This has happened
> twice. The first civil war was actually during our
> independence when many people in north america
> were actually british and part of the british
> military broke away and we fought the british to
> become the USA. The second civil war was fought
> over economics of slavery and political control of
> that system.
>
> 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

Why do you give us that long?

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: LookingAhead ()
Date: July 13, 2021 06:20PM

9e3ph9e3ph Wrote:
-------------------------------------------------------
> LookingAhead Wrote:
> --------------------------------------------------
> -----
> > The real war has already started. We are at the
> > beginnings of a civil war. I don't know if it
> will
> > actually become a physical war or not but the
> > leadership is divided and so is the country.
> 13%
> > of the population (blacks) has divided the
> rest.
> > All it will take is a larger uprising and
> division
> > within military leadership. This has happened
> > twice. The first civil war was actually during
> our
> > independence when many people in north america
> > were actually british and part of the british
> > military broke away and we fought the british
> to
> > become the USA. The second civil war was fought
> > over economics of slavery and political control
> of
> > that system.
> >
> > 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
>
> Why do you give us that long?

Because even an 8th grader should have the ability to read a few paragraphs and comprehend the very basics. God, I hope you don't breed.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: The Problem ()
Date: July 13, 2021 06:32PM

How many illegals how many immigrants we did not really need came into the USA since 1980 Theres the problem , we did need doctors and some tech people but we could have done more to produce them from our own people, we are now going down the drain a nation becoming weaker as we go due to the influence of these immigrants and their values which collide with traditional American values , yet when SHTF it will be mostly immigrants who will abandon us for their home countries

The answer less and much more selective legal immigration , shutting our southern border down to a scant number of illegal entries and deporting all illegals the minute they come into police contact because they violated a law.

That does not fit the Democrats will , they need masses of poor to insure future (D) votes keep coming in, masses of poor are the most important item in the shitty soup of pure communism with a large master ruling class and small middle class

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Fake All Fake Issues ()
Date: July 13, 2021 09:41PM

That's all Democrats are doing , mining fake issues so minorities blacks especially who will catch fire like gas will get pissed at all Republicans as they have been trained by their Democrat masters to do

All about dividing the people look at their fake "voting rights bill" right now , what Democrats are really saying is blacks are too lazy or stupid to get a govt issued photo , that's racist but it goes over the blacks heads when they are on fire

Face it they just want people to cheat and cast illegal votes for the (D)

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheEconomist ()
Date: July 14, 2021 01:41PM

Powell spoke today and, of course, stated again that the inflation is temporary. But analysts think otherwise. Powell tried to deflect and stated that we need to focus on jobs. This conversation about jobs is taking place while the Democrats are focused on the $3.5 TRILLION expenditure approval which would keep people from going back to work.

My opinion: The plan is to keep people out of work until 2023 with a slow recovery so the Democrats can claim a recovery and that voters should not change course bringing in a new President. Meanwhile, the US population will be paying higher prices (and higher taxes on purchases due to the higher prices) while the Democrats work their plan and take the US further into unrecoverable debt. They said no increased taxes on the middle class, but this inflation is actually an increased stealth tax.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Democrats Overplayed Their Hand ()
Date: July 14, 2021 01:47PM

When "JELLYFISH JOE" was sworn in

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: kwejwefgfrg ()
Date: July 14, 2021 03:05PM

Remember this post...

"the fed cannot raise [rates] due to massive debt and risk of default (happened under Carter and shut down the economy)"

Today, Powell is saying to stick it out in HOPES that inflation goes down. But, the real truth is that the fed can't raise rates to slow down inflation because the US would default due to excessive interest.

Today's news is just a smoke screen. Most aren't paying attention (or don't know enough to look for it) to the interest on debt and the inability to raise interest rates.

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Re: Turn Out The Lights, The Party's Over
Posted by: Pc retardzz ()
Date: July 14, 2021 03:22PM

The dollar has nowhere to go and will crash.

The Dems cheated their way into being lynched by the public. They will be destroyed by what’s going to happen.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: XOXOXO ()
Date: July 14, 2021 03:38PM

TTT...just in case people can read

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Almost Had It ()
Date: July 14, 2021 04:44PM

>Face it they just want people to cheat and cast illegal votes for the (D)

while they ruin the US financially, all the better to make commies out of masses of poor so they think they can be on top of the steaming pile as the elite ruling class because there too weak to deal with China

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: EyesWideShut ()
Date: July 15, 2021 11:58AM

Released today from Forbes and The Hill and Politico:

Instead of a country enjoying a strong recovery with stable prices and sustainable deficits, we now have rampant inflation, falling real wages and spiraling federal debt.

White House economic officials are privately worried inflation could become a prolonged problem, even as they publicly dismiss such concerns, Politico reported Tuesday.

What’s more: It could get worse.

Democrats have giddily announced their plan to spend $3.5 trillion on “infrastructure,” notwithstanding fresh reports showing inflation heating up to the highest level since the 1990s.

Even as Democrats plot to rack up bigger budget deficits to build their power base, the Bureau of Labor Statistics provides yet more evidence that inflation is taking hold. The producer price index for June jumped 7.3 percent from a year ago, beating forecasts that have constantly been, like the Federal Reserve, behind the curve.

It’s simple: between the Federal Reserve spewing out more than $4 trillion in cheap money over the past year, and Congress signing off on “relief” packages totaling an unprecedented $3 trillion, there is too much money chasing too few goods.

If Democrats get their way and shove another $3.5 trillion into the mix, inflation will get much, much worse. Already, the out-of-control spending is slamming workers’ paychecks.

Because of rising prices, real wages are falling, even as the job market is tight as a drum. As reported by Bloomberg, “Wage growth rose steadily through the second quarter, but higher consumer prices are taking a toll. Inflation-adjusted average hourly earnings fell 1.7% in June after slumping 2.9% a month earlier…”

Inflation will only get hotter if Biden and congressional Democrats press ahead with even more grandiose spending, attempting to insert the federal government into every nook and cranny of Americans’ lives. Sen. Bernie Sanders (I-Vt.), head of the Senate Budget Committee, who describes himself as a democratic socialist, is effectively running the show; he wants to give Americans free college, free health care, free childcare, free senior care, free housing and who knows what else.

Sanders does not seem to care where the money will come from or who it hurts; he has a vision.

Senate Majority Leader Chuck Schumer (D-N.Y.) and House Speaker Nancy Pelosi (D-Calif.) have a vision, too — to send hundreds of billions of dollars to the teacher unions, the SEIU and other special interest groups.

Biden has a somewhat weaker vision. He has promised not to raise taxes on anyone making less than $400,000 a year. But rising prices on everyday goods is the worst kind of taxation, hurting low-income earners and seniors on fixed incomes.

Price increases no longer look “transitory,” which has been the ready answer from economists singing in unison with Federal Reserve Chairman Jerome Powell. Rather, inflation appears to be gaining speed and taking hold. A growing number of analysts are now describing the price hikes as entrenched, and likely to endure.
.

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Re: Turn Out The Lights, The Party's Over
Posted by: ejsjhbafeaj ()
Date: July 15, 2021 03:05PM

Pretty pictures.
.
Attachments:
inflation0023.jpg
5dm2x5.jpg

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: July 15, 2021 04:09PM

dollar is worthless, even more so

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: BraceYourselves ()
Date: July 16, 2021 09:28AM

Today:

Much of the responsibility—and the blame—lies within the Marriner Eccles Building in Washington, home of the Federal Reserve. As a new PBS “Frontline” documentary explores, the Fed has spent the better part of the past dozen years printing money out of thin air, in the hopes of generating economic growth.

The Fed’s quantitative easing programs have indeed generated growth, but more in the form of Wall Street profits than anything else. Sadly, the after-effects of its policies—from the burgeoning spike of inflation to massive increases in both asset prices and debt—could linger for decades.

That word—addiction—powerfully describes markets’ utter dependence on cheap money from the Fed, and the danger the central bank, to say nothing of the broader economy, face after the pandemic.

With trillions and trillions of dollars sloshing around the system, ending markets’ dependence on Fed-created money could cause another financial crisis. The infamous “taper tantrum” of summer 2013, when Wall Street sold off as soon as then-Fed Chairman Ben Bernanke announced the bank was contemplating increases in interest rates, provides a warning about what markets could face whenever the Fed decides to end its money-printing regime this time.

In this case, the moves the Fed used—even more aggressive than those during the financial crash—means risk lurks around every corner. As Richard Fisher, formerly the head of the Dallas Fed, told PBS: “Cheap money is the fuel for a financial speculator and for a financial investor.” With prices skyrocketing on Wall Street, bond markets, and in the housing sector, the end of that cheap money could cause asset bubbles to burst, with potentially significant consequences.

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Re: Turn Out The Lights, The Party's Over
Posted by: AdditionDude ()
Date: July 16, 2021 09:39AM

Also today...

So now we have these price spikes cascading from product to product, and from service to service. This surge of inflation is becoming ingrained in the inflation expectations of company decision makers and consumers alike, and they’re adjusting to it, and in this manner inflation becomes persistent.

Even economists are now getting the message. According to a Wall Street Journal poll of those economists, their average forecast for the end of next year in terms of core inflation – which excludes food and energy – has risen to 3.2%.

But wait… They’re using the lowest lowball inflation measure available in the US, namely the “core PCE” inflation measure that the Fed uses as its target and that normally runs far lower than the standard CPI that is cited in the news media.

This core PCE inflation measure, the lowest lowball measure of the land, well, March, April, and May combined produced an annualized core PCE inflation rate of 6.4%, meaning that if price-increases continue for 12 months at the pace of those three months, the annual inflation rate would be 6.4%. That’s over three times the Fed’s target of 2%.

There is now a lot of clamoring among economists and Wall Streeters that the Fed will wait too long, fall too far behind the curve, keep stimulating for too long despite rampant inflation, and thereby trigger an inflation spiral that would be hard to bring under control, and that these belated efforts to bring inflation under control when it’s totally out of control would wreck the economy and asset prices.

They’re not worried about hyperinflation. They’re worried about 5%, 7%, 10% inflation for years. That kind of inflation would blow all kinds of assumptions out of the water. No one is ready for this.

This type of inflation makes long-term planning difficult for companies, and it’s a drag on the economy, and it’s a drag on real consumer spending.

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Re: Turn Out The Lights, The Party's Over
Posted by: Questionnn ()
Date: July 16, 2021 01:21PM

So basically our money is worth less and worth even less now that the govt printed money?

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Re: Turn Out The Lights, The Party's Over
Posted by: jashfagvcxqhjfj ()
Date: July 16, 2021 03:00PM

From the CNN wire this morning:

Housing is also a key aspect of Biden’s sweeping infrastructure agenda and is likely to be included as part of the $3.5 trillion budget Democrats are working toward passing along party lines through the reconciliation process.

“I say it all the time: housing is infrastructure. Building homes is good for everyone — workers, communities, tenants, homeowners, businesses. When we talk about the Build Back Better Agenda, we’re talking about building and rehabilitating more than two million homes,” Fudge tweeted from the White House account Friday.
--------------------

So the plan is to take part of the $3.5 TRILLION and build more homes. Sounds great until there is a flood of homes on the market and that drives down the price of YOUR home.

Have a nice weekend ;)

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Re: Turn Out The Lights, The Party's Over
Posted by: ksadjafheh ()
Date: July 16, 2021 03:07PM

Also reported today:

Yellen backtracks...

Treasury Secretary Janet Yellen acknowledged “rapid inflation” will persist for several more months after she repeatedly downplayed the risk of consumer price increases.

But Yellen, along with top Federal Reserve officials, predicted inflation wouldn’t be a concern.

“We will have several more months of rapid inflation,” Yellen told CNBC. “So I’m not saying that this is a one-month phenomenon.”

Yet in February, Yellen downplayed the risks of inflation, saying the Treasury Department had the tools to deal with the risk “if it materializes.” She also pushed back on former Treasury Secretary Larry Summers’ warning that President Joe Biden’s $1.9 trillion coronavirus relief package would trigger massive, once-in-a-generation inflation.

One month later, the Treasury secretary downplayed inflation again when asked if the $1,400 stimulus checks included in the relief package could boost prices, according to the Associated Press. She again pushed the legislation.

“I really don’t think that is going to happen,” she said in the March 8 interview, the AP reported. “We had a 3.5% unemployment rate before the pandemic and there was no sign of inflation increasing.”

Then, one week later, Yellen doubled down, arguing again that there wouldn’t be significant inflation.
------------------------------

It's obvious these dumbasses don't have a clue.

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Re: Turn Out The Lights, The Party's Over
Posted by: jadhwfhgfrj ()
Date: July 16, 2021 03:34PM

You people have a great weekend with your higher prices on gas, groceries, restaurants, etc. Make sure you deny any wrongdoing from the current administration. Double down on your wrong feelings. That'll change things for sure.

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Re: Turn Out The Lights, The Party's Over
Posted by: Wings ()
Date: July 16, 2021 03:44PM

I went to get hot wings 2 nights ago and the price was up 50%

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: kadjhfehgcwjh ()
Date: July 16, 2021 03:50PM

just wait, it's gonna get worse

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Re: Turn Out The Lights, The Party's Over
Posted by: Around Nova These Democrats ()
Date: July 16, 2021 04:07PM

What do fat ass over paid feds care, they could lose 45K this year and never know it

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Re: Turn Out The Lights, The Party's Over
Posted by: InvestorInChief ()
Date: July 21, 2021 12:15PM

Posted yesterday:

Biden wants to triple-tax your capital gains with inflation and a tax hike

Even though they provide greater economic growth than any other sort of income, capital gains are already taxed twice.

inflation threatens to impose a third round of taxation on capital gains, pushing the real top tax rate to potentially tens of points higher.

So, let's say Biden does get his way. Money that eventually becomes capital gains would first be taxed as corporate income, then at Biden's higher capital gains tax rate, and then through the effective inflation tax that punishes currency holders while enriching the currency's issuer. That's a triple tax.

Biden's pitch to boost the top marginal tax rate is bad enough. But to do so without indexing capital gains to inflation would be a trickle-down nightmare.

Yes, the majority of capital gains do go to the most wealthy, but the people on Main Street are the ones invested in the market for their retirement. Only a minority of households directly own stock, but 53% have a stake in the stock market through ETFs and mutual funds, mostly held in 401(k) plans and Roth IRAs.

For the past 20 years, the nominal average annual total return on the S&P 500 index has been about 8.6%. If this continues in the future and the Federal Reserve succeeds in hitting its 2% inflation target—an optimistic prospect, given wildly excessive fiscal policies this year—total real returns, after inflation, will be about 6.6%. A 58% tax rate on an 8.6% nominal return is the equivalent of a 76% tax on after-inflation returns of 6.6%. An investor would keep less than a quarter after-inflation gain.
----------------------------

So, your (middle class) IRA/401K etc are all about to get punished even further from the run-away inflation. Nice!!

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Re: Turn Out The Lights, The Party's Over
Posted by: The Wise Never Vote Democrat ()
Date: July 21, 2021 01:55PM

The pompous ass white liberal elites , the now legally or illegally drugged, the new leech "citizen" and our home grown welfare kings and queens who are the low info voters who don't care always vote for the (D)

That's why this country is going to hell as it mirrors them whose screams will be loudest when their shaky world falls apart as the US is plunged into a deep depression worse then the 1930's at the hands of ignorant pandering Democrats

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Re: Turn Out The Lights, The Party's Over
Posted by: And The Pensioners ()
Date: July 21, 2021 02:15PM

Very true AND the retired government and all others in the private sector who get a defined benefit pension union or not as all pension funds gain or can lose income through stocks and other investments that Democrats want to punish with excessive taxes to siphon off money for their social programs directed toward small minority groups for votes (by race or others such as abortionists ,criminals, Illegals, gun grabbers and sex freaks), yet when the Democrat voters future income is at stake by their vote they still stupidly vote for the (D) because of their emotional feelings that Democrats target to their advantage , which is why we see so many Democrat supporting mass media SOB stories all around us today all to subliminally direct hate toward the Republicans by Democrats so the stupid fools buy their propaganda and vote to self destruct in time taking the rest of us down with them

>but the people on Main Street are the ones invested in the market for their retirement. Only a minority of households directly own stock, but 53% have a stake in the stock market through ETFs and mutual funds, mostly held in 401(k) plans and Roth IRAs.

THE MORAL Never vote for the Democrat to keep your nation free, your constitutional rights , your life , your income , your future solvency and your children's and theirs to come

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Re: Turn Out The Lights, The Party's Over
Posted by: TheFedReporter ()
Date: July 26, 2021 02:48PM

Posted today on Reuters

Fed now facing twin inflation, growth risks as virus jumps and supply chains falter

- That view has remained mostly intact at the Fed and the White House even as prices pop, virus variants threaten to perpetuate supply chain bottlenecks and some price increases, like rising rents, create the risk that high inflation might last for a while.

The Fed, which meets this week, is openly nervous about rising prices, but it isn’t doing anything abrupt to counteract them. It says it needs to weigh the risk of inflation against the threat of slowing a labor market that is still missing nearly seven million jobs compared to levels under Trump before Biden was sworn in.

Powell, Whatever You Do, Don't Say the "T" Word. For months, Fed officials have been trying to convince the world that inflation is transitory. The Biden administration wants a simpler vocabulary. T-words like “transitory” and “temporary” have shown up frequently in speeches and interviews in recent months. At its June meeting, the FOMC said “inflation has risen, largely reflecting transitory factors.” Going forward, however, Powell likely will be wary of using language that has become tainted in the eyes of the White House.
-------------------------------

In other words, the fed is going to soften their stance so they don't scare people into saving money rather than paying the invisible tax (inflation)

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Re: Turn Out The Lights, The Party's Over
Posted by: FedAdvisor ()
Date: July 26, 2021 03:17PM

Ouch:

Fed weighs curbing cash machine as critics warn of housing, stock bubble; Lawmakers are warning that the central bank’s vast purchases of government debt are feeding financial bubbles.

Today, house prices are surging, stocks have continued their stratospheric rise, and banks have more cash than they know what to do with. Yet the Fed is still pumping billions into the economy. Why? That’s what a growing number of lawmakers, investors and even some Fed officials themselves are demanding to know. They are warning that the central bank’s vast purchases of government bonds and mortgage-backed securities are feeding financial bubbles in the housing, stock and even cryptocurrency markets, and stoking higher consumer prices, with little apparent benefit to ordinary Americans.
-----------------------------------

Get ready. The fed will have to pull back within a few months. Your 401K/IRA is gonna get pummeled.

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Re: Turn Out The Lights, The Party's Over
Posted by: Housing And Commercial ()
Date: July 26, 2021 03:31PM

Prices are going way up because steel is 75% higher then it was last August 2020 with the great majority of the cost increase under JOE Biden Lumber the same !

Joes a disaster the people were sucked in by PC !

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Re: Turn Out The Lights, The Party's Over
Posted by: BadNewsAhead ()
Date: July 26, 2021 04:04PM

Reported:

Wall Street Cheers...but the consumer gets burned

Corporate profit margins are holding up despite cost inflation

Between the lines: These with all those reports of executives sounding the alarm on inflation.

Many of those same reports note that executives were planning to pass rising costs to their customers through price increases.

33% of respondents to NABE’s survey said prices charged were rising

For the next three months, 43% said they expected prices to rise

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Re: Turn Out The Lights, The Party's Over
Posted by: FrontDesk ()
Date: July 26, 2021 04:23PM

Ouch:

Today...

WASHINGTON (AP) — With inflation uncomfortably high and the COVID-19 Delta variant raising economic concerns, a divided Federal Reserve will meet this week to discuss when and how it should dial back its ultra-low-interest rate policies.

This week’s meeting occurs against the backdrop of a risky policy bet by Fed Chair Jerome Powell. Yet the stakes around that bet are rising, with consumer prices having jumped 5.4% in June from a year ago, the biggest increase in 13 years. Last month’s surge marked a fourth straight month of unexpectedly large price increases. The main concern is that the Fed will end up responding too late and too aggressively to high inflation by quickly jacking up interest rates and perhaps causing another recession. Powell stated more explicitly than before that the Fed won’t hesitate to raise rates should it decide that inflation is getting out of control.
-------------------------------------

I think they will delay a rate increase and continue to buy up. But this is because they CANT raise rates due to impending default if they do. In addition, that default would create a recession and that would be a bad thing for Biden. This is a big gamble they are taking and, as a result, are forcing you to pay an invisible tax.

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Re: Turn Out The Lights, The Party's Over
Posted by: MoreInflationComing ()
Date: August 02, 2021 04:28PM

Reported today in the news:

“Companies once again posted robust margins,” BofA equity and quant strategists said in their note. “However, we are starting to see the good inflation environment turning into a bad inflation environment with many companies citing accelerating cost inflation, particularly around wages.”

Labor inflation mentions have picked up the most among the categories tracked by BofA, while companies citing higher costs tied to supply chains also more than doubled, the report shows.

“Companies are less enthused,” the BofA strategists said. “A number of companies have highlighted accelerating inflationary pressure, with some companies expecting cost pressure to outpace pricing power.”

"There is now a shortage of workers for all the businesses that are trying to reopen today. This has caused the businesses to raise wages to get people back to work (there is no reason to work due to the tax-payer funded federal money being handed out), thus an increase in products and services they provide.

"the Fed is already using its capacity to borrow in the reverse-repo market to reduce money supply growth. But the excess reserves of the private-banking system are still almost $4 trillion. The bad news is that if the inflation problem doesn’t go away and market interest rates start to rise, the reserve overhang has the potential to cause a money-supply eruption. The use of any of the Fed’s powers to stop the growth in the money supply and inflation will only send interest rates higher."

"U.S. “M2” money supply (coin currency, physical paper, central bank reserves, demand deposits, travelers’ checks, savings deposits and money market shares) has increased from about $15.4 trillion to nearly $20.4 trillion. That’s a 24% increase, annualizing to an inflation rate of about 16% — if production of goods and services kept up. But it didn’t. U.S. gross domestic product dropped from more than $21.4 trillion in 2019 to less than $20.1 trillion in 2020. Inflation is a hidden tax. Instead of hitting you up for a dollar or ten, the government just makes that $100 bill in your wallet worth $99 or $90 in terms of what you can buy with it now as opposed to what you could buy yesterday."

"Transitory inflation could mean higher prices for years, not months, and Powell's stance could complicate his future as Fed chief. The minute the Fed starts saying transitory is not just a few months or a few quarters, it could be one to two years," El-Erian told CNBC on Monday. "The whole notion of transitory becomes meaningless at this point. The risk we have is that inflation would get embedded into the system."
------------------------------------

If you didn't care to read, here's the cliff's notes version: Bend over. It's about to get worse.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: kjwegwegwej ()
Date: August 02, 2021 07:10PM

TTT

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: ShitHitFan ()
Date: August 02, 2021 10:30PM

Shit's gonna hit the fan and it's already started

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Re: Turn Out The Lights, The Party's Over
Posted by: ReporterInChief ()
Date: August 03, 2021 11:31AM

Reminder:

When the democrats pass (without support from the opposition) the $3,500,000,000.00 spending bill for infrastructure (and to pay for immigration), they have to print more money to do it. What is not printed will come from corporations. Corporations don't pay taxes. Corporations pass through the cost of taxes onto the consumer. YOU pay for the additional taxes.

This money printing will also again decrease the value of the money you have/make.

More invisible taxes coming soon and will be paid by you (the average person).

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Re: Turn Out The Lights, The Party's Over
Posted by: jadhegareh ()
Date: August 03, 2021 11:33AM

ReporterInChief Wrote:
-------------------------------------------------------
> Reminder:
>
> When the democrats pass (without support from the
> opposition) the $3,500,000,000.00 spending bill
> for infrastructure (and to pay for immigration),
> they have to print more money to do it. What is
> not printed will come from corporations.
> Corporations don't pay taxes. Corporations pass
> through the cost of taxes onto the consumer. YOU
> pay for the additional taxes.
>
> This money printing will also again decrease the
> value of the money you have/make.
>
> More invisible taxes coming soon and will be paid
> by you (the average person).


Forgot 3 zeroes ;) it's $3,500,000,000,000.00

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Re: Turn Out The Lights, The Party's Over
Posted by: Democrats Don't Care ()
Date: August 03, 2021 07:37PM

Just look at how America has slumped since Trump left,no one paying attention to the WOKE kneeing Olympics , now we have Cuomo staying instead of resigning after being exposed by the NY State AG for sexual harassment , JOE keeping our southern border wide open, inflation climbing and no one but a few care . A sad sick end at the hands of Democrats is all we can see for our future

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Re: Turn Out The Lights, The Party's Over
Posted by: Congrats JOE BIDEN ()
Date: August 03, 2021 07:47PM

And Democrats , you have plunged the USA into another great depression

How are your feelings going to be in a few months DEMOCRATS once people really start to loose their hats and asses

Say what you want woke haters this would not be happening with TRUMP in office now

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Re: Turn Out The Lights, The Party's Over
Posted by: ksdhdsgdch ()
Date: August 04, 2021 11:35AM

Posted today:

On average, supply managers expect their companies’ prices to rise by another 7.7% over the next 12 months

Powell risks 1970s inflation to keep his job:
Mr. Biden’s proposed $4 trillion infrastructure, industrial policy, and social spending will hardly be fully financed with new taxes. Too many of his proposed levies are unpopular within the Democratic caucus. He must borrow more and rely on the Fed to print money to purchase even more Treasuries or let interest rates rise. Higher interest rates would curb new home construction and raise costs in capital-intensive industries like electric vehicles, green energy, and semiconductors, the president wants to boost.
----------------------------

Reminder: What the Fed isn't telling you is that they CANNOT raise interest rates because the US will default on our debt. Powell is just holding out with Biden's disastrous plan until he gets re-appointed.

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Re: Turn Out The Lights, The Party's Over
Posted by: visibility ()
Date: August 04, 2021 12:32PM

for visibility, read

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Re: Turn Out The Lights, The Party's Over
Posted by: sheet ()
Date: August 04, 2021 01:43PM

Today:

Dow slips 300 points after ADP payrolls marks weakest gain since February

The main U.S. stocks headed lower Wednesday, after a report on private-sector jobs for July came in much weaker than expected, setting the stage for Friday’s monthly nonfarm-payrolls report to disappoint

The ADP report showed that 330,000 jobs were added last month, missing consensus estimates of economists surveyed by Dow Jones for 653,000 and marking the smallest monthly gain since February. On top of that, the job tally for June was lowered to 680,000 from an initial reading of 692,000

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Re: Turn Out The Lights, The Party's Over
Posted by: jkashwegewrj ()
Date: August 04, 2021 04:43PM

TTT for visibility

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Re: Turn Out The Lights, The Party's Over
Posted by: f'n democrat nitwits (redundant) ()
Date: August 04, 2021 06:20PM

Questionnn Wrote:
-------------------------------------------------------
> So basically our money is worth less and worth
> even less now that the govt printed money?

Basically democrats are working overtime to destroy the dollar's value.

[sarcasm]Works great for those they claim to care about most... people on fixed incomes which are the bulk of the poors. [/sarcasm]

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Re: Turn Out The Lights, The Party's Over
Posted by: What's The Best Conditions For ()
Date: August 04, 2021 09:12PM

Communism

The reason is masses of impoverished people when Democrats flatline the US economy and this country is beyond life support from other nations because they wont give us a dime, our national credit is shot

Buy Gold Buy Sliver Buy Guns Buy Ammo Everything else In God We Only Trust the rest pay in G & S or G & A

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Re: Turn Out The Lights, The Party's Over
Posted by: RockStarr ()
Date: August 05, 2021 09:52AM

Inflation is a TAX. Call it an invisible tax if you want. The fed has no reason to solve the issue right now. They are getting more tax revenue from it. And this isn't going away anytime soon. There is $19 TRILLION in handouts floating around the economy and not being spent. They printed money to do this and that de-valued your money. Lots of money floating around, people not incentivized to work, companies having to pay more to recruit people to work, leads to a cost of doing business, leading to a rise in prices. Your money is less valuable and prices rise. That is a disaster.

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Re: Turn Out The Lights, The Party's Over
Posted by: RomanEmporer ()
Date: August 05, 2021 03:35PM

Almost two thousand years ago there was the great currency debasement of the Roman Empire.

At the turn of the second century, the Roman Empire controlled all of Western Europe, parts of North Africa and the Middle East. Some estimate up to 65-100 million people lived under Roman rule, with 55–65 million as the most accepted range. — approximately 20% of the world population.

Yet, 150 years later the empire was near collapse.

There were several reasons (of which one was that they went broke from social programs and couldn't pay their soldiers to defend the empire), BUT...

The biggest factor was the debasement of the Roman currency. The debasement of the Roman currency ultimately led to over-taxation and inflation, which in turn caused a financial crisis.

What began as steady devaluation soon became a rapid destruction of the currency in Rome. You see, the debasement starts slowly at first (it always does). It’s easy to debase in the beginning. Shave a little silver here, add a few more coins there, what’s the big deal!? In the end, you overdose by taking too much. The same holds true for currency debasement; in the end your currency collapses.

the problem with currency debasement is that it is a hard habit to kick. Worse, most don’t even realize that it’s bad. This held true in Rome, held true in Weimar, Germany and holds true today.

They simply cannot turn off the printers. If they attempt to slow down inflation (typically by raising interest rates and turning off the money printers), within weeks if not days, you would see immediate bankruptcies, unemployment, strikes, hunger, violence, and possibly even revolution in an extreme case.

Boys and girls, this is not a matter of "if", it's just a matter of when.

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Re: Turn Out The Lights, The Party's Over
Posted by: BumpGuy ()
Date: August 05, 2021 03:46PM

I bumpeth ye

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Re: Turn Out The Lights, The Party's Over
Posted by: Lock and load ()
Date: August 05, 2021 06:00PM

It’s time to get serious. All patriots need to be fully armed and available to help drive any illegal Covid infected alien back to whatever 3rd world shithole they emerged from. Confiscate any property they have and sell it to pay for more deportions. The same goes for terrorist BLM and Antifa. Send those assholes to either Africa or Cuba or China or some other Marxist hellhole. We need to put America first and keep America great. Also we need to arrest all corrupt and lying Democrat libtards and send them to prison as punishment for screwing over the country.

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Re: Turn Out The Lights, The Party's Over
Posted by: 64jjh ()
Date: August 05, 2021 07:58PM

Property? LOL

They show up with a blanket and a binky. WTF??

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Re: Turn Out The Lights, The Party's Over
Posted by: Mark j ()
Date: August 06, 2021 01:04AM

The Nutshell Doom Analyst Wrote:
-------------------------------------------------------
> Democrats have super screwed the American people
> for decades now giving our money away to greedy
> world nations that we rebuilt with trillions after
> a few asshole racist countries started trying to
> blow the world up 82 years ago
>
> We could have handled that even though the US got
> no respect from these peoples who let us do the
> dirty job of defending the free world from
> communism which they and our Democrats now want as
> Democrats call their harmful socialist programs
> and dreams "Democracy" to consume all of us ,
> while The world the US rebuilt got richer and more
> well off today then we are to the point they look
> down at us with scorn , they hated President Trump
> for his America first stance especially over NATO
> but JOE is no favorite as they think he is nothing
> but an foolish old Democrat hack and a stooge
>
> Enter the Chinese Covid 19 virus which Democrats
> resisted every good deed President Trump did to
> put the American people first of every race and
> religion as they threw race cards at his efforts
> to contain the virus and laughed at him on their
> leftist "news" , "shit-u-ation" comedy's and no
> talent late night shows that brain wipe millions
> to vote (D) to be with the "popular crowd that
> hates Trump and the GOP " a programed emotion
> which the leftist media jackals exploit
> successfully as Democrats resisted every move
> Trump made and did nothing to even try to stop the
> spread of C19 in the USA to pass blame on Trump
> that "he did it" with their lying media
>
> No comes JOE who thinks he's got a "mandate" with
> no senate majority and a slim majority in the
> house as he lamely attempts more half ass social
> engineering programs to ruin the USA by insolvency
> like Obama started . Programs in JOES world
> controlled by his leftist masters which are
> nothing but race pandering and way out eviro freak
> paybacks for votes so JOE can brag he's the hero
> if he gets his way to ruin as this county is the
> deepest debt crisis its ever been in and will be
> fighting for its life to dig its way out

And this is it in a nutshell...we are one breathe away from Communism. We have been set up and had. We have been too complacent as a country. Pain is coming for us all..some will be shocked

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Re: Turn Out The Lights, The Party's Over
Posted by: Too Much Greed To Much Softness ()
Date: August 06, 2021 01:33AM

To much Charmin thick steaks lobster rolls a hundred types of ice cream in stores hundred of cold beers , trips to Aruba, expensive trips to places that no one has heard off to be the coolest one upper in town while too many don't want to work they have been fed the taste of public assistance and no rent payments and they like it , then the pompous asshole liberal elites who are so loving with their cares about "human rights" because they are so well of personally who are the biggest hypocrites on earth

The founders would be ashamed of this country , and worry that its time to start over , they would think "they took a great thing and f'd it all up with their Democrat votes for the weakest people on the planet earth"

American was once a strong kick ass nation of hardworking strong people , we are but a mere shadow of that today a nation of excuse makers and whiners not worth a damn who all vote for the (D) for the easy way out of anything

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Re: Turn Out The Lights, The Party's Over
Posted by: bumpy ()
Date: August 06, 2021 10:10AM

bump

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Re: Turn Out The Lights, The Party's Over
Posted by: AnotherReport ()
Date: August 06, 2021 03:48PM

Reported today:

New York (CNN Business)Democratic Senator Joe Manchin is taking the Federal Reserve to task over inflation.
In a Thursday letter to Fed Chairman Jerome Powell, Manchin called for the US central bank to immediately reverse course and remove stimulus support for the economy before it overheats.
"With the recession over and our strong economic recovery well underway, I am increasingly alarmed that the Fed continues to inject record amounts of stimulus into our economy," the moderate lawmaker from West Virginia wrote.

"It is imperative we begin to understand that long term policy responses tailored for an economic depression," Manchin wrote, "may not be what is required for today's economy and could result in higher than desired inflation if not removed in time."

Manchin's critique was not exclusive to the Fed. The Democrat said he is "deeply concerned" that the Fed stimulus, on top of proposals for additional fiscal stimulus, "will lead to our economy overheating and to unavoidable inflation taxes that hard working Americans cannot afford."

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Re: Turn Out The Lights, The Party's Over
Posted by: GRAB THE LIFELINE NOT OUR GUNS ! ()
Date: August 06, 2021 04:35PM

How will the woke fake "loving human rights" Democrats will be able to go 60% electric car crazy by 2030 , jus got to know how the impoverished who will be in numbers of many millions more by then will be able to buy any thing at all with the inflation disaster pandering JOE is bringing riots and looting will be the national norm in Democrat controlled areas the rest will be glum no hope zones with an occasionally Democrat ivory tower where some lazy fat cat government hack lives with their electric POS's

BTW do you really think amnesty will get Democrats to close the southern border , even Democrat shills know that's BS the impoverished will become even more poor while the middle class will be come even more poor everything will be going to hell , where there going to be anyone that can afford a new car but the few thousand Democrat millionaires and billionaires , you cant run a country with only that JOE and your vastly stupid woke Democrats

Here's a lifeline to save this floundering nation that's sinking under the weight of Democrat wokeness and weakness in everything they do

Its only requirement to save this county with you on board is to hold on tight and NEVER VOTE FOR THE DEMOCRAT EVER AGAIN

If a DEMOCRAT offers you their "lifeline" don't touch it, its fake and only suspends you over the raw sewage tanks of a waste treatment plant , their lifeline is on fire and slowly burning away ! You'll be dropped like a used rubber ! watch out!

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Re: Turn Out The Lights, The Party's Over
Posted by: dindonuffins ()
Date: August 09, 2021 02:00PM

bump

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Re: Turn Out The Lights, The Party's Over
Posted by: Shiiiiiitt ()
Date: August 10, 2021 11:46AM

Posted today on CNN...LMAO

New York CNN Business —

Companies big and small are raising wages to attract workers and hold onto employees as the economy revs back into gear.

But those fatter paychecks aren’t going as far, thanks to rising inflation.

In fact, compensation is now lower than it was in December 2019, when adjusted for inflation, according to an analysis by Jason Furman, an economics professor at Harvard University.

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Re: Turn Out The Lights, The Party's Over
Posted by: MoMoneyMoMoney ()
Date: August 10, 2021 02:46PM

Your money just lost more value today. The fed will now have to print $1.2 TRILLION dollars due to the infrastructure bill that was just passed.

Taxes aren't always direct. They often appear as invisible taxes. You don't pay them out of your paycheck, but instead you pay them as increased costs for goods/services or (like today) your money becomes less valuable.

Sadly, the senate immediately after the passage today began working on another $3.5 TRILLION dollar "human infrastructure" plan which they cannot pay for. Get ready for more invisible taxes with a side of your inflation.

Your government doesn't care about you.

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Re: Turn Out The Lights, The Party's Over
Posted by: What They Need To Spend On ()
Date: August 10, 2021 06:11PM

Is at least 100000 new public toilets and showers with the trillion from the. Bs " infrastructure " bill , they can be unisex as it won't be long that millions upon millions of Americans will lose there hat and ass due to the vast Democrat squandering of now trillions of dollars.

When the people are living in hobo jungles at least there will be warm places for the loose shoe crowd to dump and take a shower

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Re: Turn Out The Lights, The Party's Over
Posted by: already gone ()
Date: August 10, 2021 06:25PM

Buy land. As much as you can afford. It is the only hedge against the globalist plans being implemented by the usurper Xiden. With land, you can grow your own crops, tend your own animals and live the way God intended you to live. By the time they get around to seizing private property, we'll be in a shoot war with the gubmint anyway. Money, precious metals, and bitcoin are all man-made assets that are worth only what the power brokers say they are. You have been warned.

And to the liberals here, STAY THE FUCK OUT OF RED STATES. You aren't welcome and we will kill you if we have to.

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Re: Turn Out The Lights, The Party's Over
Posted by: Sgt. Hulka ()
Date: August 10, 2021 06:34PM

Lighten up Francis.

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Re: Turn Out The Lights, The Party's Over
Posted by: ur on the list ()
Date: August 10, 2021 06:43PM

Sgt. Hulka Wrote:
-------------------------------------------------------
> Lighten up Francis.


You wanted a war faggots. You're going to get one.

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Re: Turn Out The Lights, The Party's Over
Posted by: All Democrats Can Do Is Pander ()
Date: August 11, 2021 12:29AM

Be it pandering to race, or pandering to squander trillions on crap only handfuls of leftist Democrats want but they make it sound like we all need

Infrastructure , a few bridges worked on and a huge pile of progressive projects that fail because they wont create any new jobs or real opportunities for those who need them the most

Bailing out college loans ! That's good for those doped that had to take them out and can't or worse refuse to pay them back to keep the (D) in their vote , its horribly bad for the rest of the millions of Americans who got nothing but the bill , many just getting by who only keep paying the debts the Democrats rack up for their votes not the nation as a whole

20 stupid RINO suckups need to be tossed when their terms end who voted for this crap in the US Senate

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Re: Turn Out The Lights, The Party's Over
Posted by: TaxManCometh ()
Date: August 11, 2021 02:59PM

Reported today...

After soaring at the fastest pace since 2008, economists and the Fed expected the surge in Consumer Prices to slow very modestly in July to +5.3%. They were WRONG as CPI came in high and rose 5.4% (up 0.5% from their projection).


Price growth is winning the race’: Inflation is devouring wage gains
New data shows inflation jumped again in July, as price hikes overshadow the benefits of wage gains.

In other news, the $3.5 TRILLION budget resolution passed in a divided Senate and will be adding to YOUR taxes via printing money and de-valuing your paycheck (ie an invisible tax).

You're welcome.

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Re: Turn Out The Lights, The Party's Over
Posted by: Votes At Any Cost To Country ()
Date: August 11, 2021 05:58PM

Democrats

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Re: Turn Out The Lights, The Party's Over
Posted by: dayyuumm ()
Date: August 11, 2021 08:05PM

this thread is quickly becoming reality

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Re: Turn Out The Lights, The Party's Over
Posted by: RuutRoohhh ()
Date: August 13, 2021 01:09PM

Reported on CNN yesterday:

Producer price inflation, which measures the prices US producers receive for their goods and services, rose 7.8% over the 12 months ended in July. That was more than economists had expected and marked a new record high since the Bureau of Labor Statistics first began calculating the index in November 2010.

But stripping out more volatile components, such as food, energy and trade services, inflation still rose sharply in July. For the 12 months ended in July, prices rose 6.1%, the biggest increase since the BLS first started calculating this data in August 2014.

Other news:

Biden blames OPEC for inflation instead of reckless spending as approval on economy plummets (good one Mr Let's Shut Down the Pipeline)

More other news:

Inflation is not going down anytime soon, according to economic forecasters. Forecasters lowered economic growth projections for this year and lifted inflation expectations into 2022 across a variety of metrics, according to Bloomberg’s latest monthly survey of economists.

Ongoing supply chain strains and labor market shortages are not only holding back economic growth but also raising costs for companies, said James Knightley, chief international economist at ING. “Demand outstripping supply not only means higher inflation, but missed growth opportunities.”

**** Compared to a year earlier, the personal consumption expenditures price index is now expected to rise 4% in the third quarter and 4.1% in the fourth, double the Federal Reserve’s 2% goal. Expectations for the core measure, which strips out the volatile food and energy components, were also revised higher.
--------------------------

Oh boy. Sorry boys and girls. You may want to start stocking up on ramen noodles.

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Re: Turn Out The Lights, The Party's Over
Posted by: BumberInChief ()
Date: August 13, 2021 01:20PM

Don't let the drug dealers keep you from seeing what's important

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Re: Turn Out The Lights, The Party's Over
Posted by: Obviously ()
Date: August 13, 2021 01:31PM

drug dealer obviously a democrat and doesn't want bad news

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Re: Turn Out The Lights, The Party's Over
Posted by: kdhwefgwehwj ()
Date: August 13, 2021 01:36PM

jon wick, I work from home and can bump this post all fucking day

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Re: Turn Out The Lights, The Party's Over
Posted by: BumpMOFO ()
Date: August 13, 2021 01:52PM

bump mofo

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Re: Turn Out The Lights, The Party's Over
Posted by: kewjergerhj ()
Date: August 13, 2021 02:01PM

don't buy von wick's weed...pay attention to the news

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Re: Turn Out The Lights, The Party's Over
Posted by: kashsdgweh ()
Date: August 13, 2021 02:03PM

von wick sucks dick

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Re: Turn Out The Lights, The Party's Over
Posted by: WSJ Report ()
Date: August 16, 2021 02:21PM

Wall Street Journal Reported today:

Average real wages have fallen for seven months in a row. In other words, the Biden inflation has reduced the real wages of workers in every month that he has been in office. This confirms yet again that high inflation is a way of cutting wages by sneaky central-bank means.

This inflation has come as a surprise to the Federal Reserve, as it busily monetizes government debt, but it is no surprise at all. It reflects the most fundamental principle in economics: Nothing is free. You pay for monetizing government debt by taking money from the wage earners and robbing the savers.

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Re: Turn Out The Lights, The Party's Over
Posted by: jewgwefcweh ()
Date: August 16, 2021 02:52PM

bump, facts aren't going to disappear

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Re: Turn Out The Lights, The Party's Over
Posted by: bompbomp ()
Date: August 16, 2021 02:58PM

weed bumpity bump

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Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: August 16, 2021 03:12PM

bump to piss off the weed gods

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Re: Turn Out The Lights, The Party's Over
Posted by: BumpMachine ()
Date: August 16, 2021 04:01PM

buuuuump

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Re: Turn Out The Lights, The Party's Over
Posted by: RamRod ()
Date: August 16, 2021 04:35PM

rammin dis bump up the weed dealer asshole

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Re: Turn Out The Lights, The Party's Over
Posted by: CartoonsGood ()
Date: August 16, 2021 05:13PM

Cartoon says it all
Attachments:
20210816edsuc-a.jpg

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Re: Turn Out The Lights, The Party's Over
Posted by: HelloThere ()
Date: August 16, 2021 06:15PM

Hope everyone had a great day working for 7% less money

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Re: Turn Out The Lights, The Party's Over
Posted by: gt5fr ()
Date: August 16, 2021 06:43PM


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Re: Turn Out The Lights, The Party's Over
Posted by: WTF Dude ()
Date: August 17, 2021 03:49PM

Reported today:

"Washington is lying to the consumer."

"They’re saying that we are going to increase taxes on corporations, we are going to increase taxes on the rich, but when you increase taxes on the corporations, guess what? Those corporations increase their prices and reflect it to the consumer," Catsimatidis stressed.

He argued that increased prices for food, gas and heating oil will most affect those who "least can afford to pay." Inflation is a "tax" on the middle class and the poor, before he argued that "there’s an attack on America" due to the "transfer of wealth."

Also...

The central bank has been stoking inflation and is stubbornly blind to the danger of getting more than it bargained for, of letting loose what Nobel Prize–winning economist Friedrich Hayek described as the “tiger.”

Inflation doesn’t have to be Venezuelan or Zimbabwean hyperinflation to be destructive. It’s a tax diminishing the value of dollars earned and saved, and it increases the effective income- and capital-gains tax rates. It can cause systemic malinvestment, and it transfers wealth from creditors to debtors — the biggest of which is Uncle Sam.

While the Fed has cultivated and enjoys a stellar reputation on both sides of the political aisle and with much of the public, its track record since its 1913 creation has been less than stellar. The dollar has lost 96 percent of its value, and the U.S. has suffered multiple financial and economic crises.
-------------------

Did you get that? The value of the dollar has lost 96% since 1913. But, hey, let's trust in what the government tells us. They never lie, right?

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Re: Turn Out The Lights, The Party's Over
Posted by: WowWeAreScrewed ()
Date: August 17, 2021 04:02PM

Breaking news today:

Dow Plunges 500 Points As Investors Worry About ‘Worst Possible’ Inflation Scenario

Census Bureau reported consumer spending fell 1.1% from June to July

consumer confidence levels that “shockingly” hit their lowest level in a decade last week as a reminder of the “real risk” the economic recovery slows

Released by Deutsche Bank Research, the report echoes other warnings from leading financial experts that Washington's massive stimulus and debt was driving higher inflation and threatening economic growth. According to the report, the dramatic shift in macroeconomic policy taking place in Washington is "scary," with inflation being downplayed while massive fiscal and monetary stimulus is being "coordinated in ways the world has never seen before."

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Re: Turn Out The Lights, The Party's Over
Posted by: Which Soil Is Richer ? ()
Date: August 17, 2021 09:41PM

To sow the seeds of communism and see them take root

The fertile soil of millions upon millions of poor American people in Democrat controlled cities with millions of poor immigrants and illegals imported into the USA by Democrats policies which is today

OR

The hardened unfertile soil of a content nation of hard working people who don't need or want welfare in a USA that lives within its means and has a strong economy and national defense like we once were

Now you know why the Democrats are doing what they are to this country

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Re: Turn Out The Lights, The Party's Over
Posted by: Welcome ()
Date: August 18, 2021 11:28AM

In a news article today:

"The Biden administration has also proposed trillions of dollars in tax hikes on businesses. This, similarly, will be passed on to consumers through higher prices. Raising the corporate income tax from 21 to 28 percent will certainly have this effect. According to a 2020 National Bureau of Economic Research paper, 31 percent of the corporate tax rate is borne by consumers through higher prices of goods and services."

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Re: Turn Out The Lights, The Party's Over
Posted by: Invisibility ()
Date: August 18, 2021 12:17PM

Newsweek:

Every American is going to pay higher taxes thanks to the Biden administration's policies.

Remember that inflation is a hidden tax. It is a powerful (and often unseen and unstoppable) way for a government to pay for its goods and services without raising visible taxes that make people angry.

Warren Buffett is widely regarded as the best long-term investor in America. He clearly has moved from concerns about unemployment to concerns about inflation.

"We are seeing very substantial inflation," Buffett said at the annual meeting of Berkshire Hathaway. "We are raising prices. People are raising prices to us, and it's being accepted."

Inflation will be the key byproduct of the Biden administration's desperate strategy of spending beyond its means.

Government cheating by inflating currency is as old as government itself.

When President Biden promises not to raise taxes on people who make less than $400,000 a year, he is profoundly misleading the American people. His big-spending, big-deficit program will raise the price of everything—and everyone will pay the hidden Biden tax.

Most of us are already paying the hidden Biden tax every time we buy gasoline. This is thanks to the combination of killing the Keystone XL Pipeline, restricting exploration on federal land and a weakening dollar raising the price of oil on the world market (where it is measured in dollars and therefore goes higher when the dollar declines).

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

I'm Joe Biden, and I don't approve of this message.

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Re: Turn Out The Lights, The Party's Over
Posted by: HolyShitMFer ()
Date: August 20, 2021 01:35PM

News article posted today:

Brace yourself — inflation's coming back stronger than ever

The Federal Reserve insists that the current price inflation is “transitory.” Every sign points in the opposite direction, however, and we need to understand the economic and political implications of what is about to begin — an era of high inflation.

A country cannot raise its debt by 40 percent in two years (as the federal government has done since 2019, according to my calculations of the Treasury Library’s monthly statements of debt) or spend more than $6 trillion in 2020 and incur a 15-percent fiscal deficit on top of years of prior profligacy, all without consequences. Nor can the Fed spend money to buy assets, increasing its balance sheet to more than $8 trillion (up from $4.3 trillion in 2019) and not expect that money to spill out into the economy at some point. There are signs that this is already happening — and it is only the beginning.

The financial chickens have finally come home to roost. The era of inflation will have a momentous effect on our lives. The picture will not be pretty — at home or abroad. We’d better begin to face the facts. There is nothing transitory about them.

Also...

Biden and Pelosi Set to Impose Tax Hikes on Small Businesses

During his campaign, President Biden promised the American people that he would not raise taxes on small businesses. Now he is violating that promise, and next week House Democrats will vote on the framework to make the tax hikes possible.

Biden's small business tax promise was made on Feb. 20, 2020 before a national audience during a Democratic debate hosted by MSNBC:

MSNBC's Hallie Jackson: "I want to ask you about Latinos owning one out of every four new small businesses in the United States. Many of them have benefited from President Trump's tax cuts, and they may be hesitant about new taxes or regulations. Will taxes on their small businesses go up under your administration?"

Biden: "No. Taxes on small businesses won't go up."

The White House this week tried to downplay it by asserting Biden's increase in the top marginal income tax rate would "only" hit three percent of small businesses.

Three percent of 31.7 million small businesses is 951,000 small businesses. And the White House failed to mention the one million small businesses organized as C-corporations: the Biden plan calls for a federal corporate tax rate increase to a higher-than-communist China rate of 28 percent.

In addition, another tax is coming:

Elimination of stepped up basis would impose an automatic capital gains tax at death -- separate from, and in addition to -- the Death Tax.

Biden's proposal would tax an asset's unrealized appreciation at transfer. You mean Junior gets taxed whether or not he sells the business? Essentially, yes. The idea that you could build up your small business and escape death tax and income tax to pass it to your kids is on the chopping block. Biden would levy a tax on unrealized appreciation of assets passed on at death. By taxing the unrealized gain at death, heirs would get hit at the transfer, regardless of whether they sell the asset.

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Re: Turn Out The Lights, The Party's Over
Posted by: ksahdsfgwehw ()
Date: October 14, 2021 03:43PM

I have been warning you....

Reported today:

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010.

The Labor Department reported Thursday that the monthly increase in its producer price index, which measures inflationary pressures before they reach consumers, was 0.5% for September compared to a 0.7% gain in August.

The 8.6% rise for the 12 months ending in September compared to an 8.3% increase for the 12 months ending in August, which had been the previous record 12-month gain.

On Wednesday, the government reported that inflation at the retail level rose 0.4% in September with its consumer price index up 5.4% over the past 12 months, matching the fastest pace since 2008.

The jump in inflation this year reflects higher prices for food and energy and a number of other items from furniture to autos as the pandemic has snarled supply chains and demand has outstripped supply.

The report on wholesale prices showed that core inflation at the wholesale level, excluding volatile energy and food, was up 0.2% in September from August and was 6.8% higher over the past 12 months.

Almost 80% of the overall increase in wholesale prices last month was attributed to a 1.3% rise in the price of goods, the largest increase since May. In September, 40% of the jump in goods prices reflected rising energy prices. Price increases for services rose a smaller 0.2%

Food costs at the wholesale level rose 2% in September while energy prices were up 2.8%, the biggest jump since a 5% surge in March.

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

Free money isn't free. It's your money the government gives to others. Then they print more money, making yours less valuable. Then your less valuable money is used to pay for more expensive goods and services. You are officially double-fucked.
.

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Re: Turn Out The Lights, The Party's Over
Posted by: jashedfgweh ()
Date: October 14, 2021 03:58PM

Also this reported today on WSJ:

The Inflation Tax Rises
Real average hourly earnings have declined 1.9% since Biden’s inaugural.

"We learned from Milton Friedman that inflation is always and everywhere a monetary phenomenon. And there’s no question the Fed has been pursuing one of the most radical monetary experiments in history since April 2020. The actions were warranted in the early pandemic days to offset the damage when the government shut down the U.S. economy. But the Fed has kept the same policies for some 19 months even as the economy has regained its pre-Covid level of GDP.

From AP:

Winter heating bills set to jump as inflation hits home

NEW YORK (AP) — Get ready to pay sharply higher bills for heating this winter, along with seemingly everything else.

With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter.

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Re: Turn Out The Lights, The Party's Over
Posted by: HooolyCrap ()
Date: October 14, 2021 04:09PM

Wow, even Bloomberg (a left-leaning news outlet) is posting negative today:

The Inflation Numbers Are Undeniable Now

There’s no getting around it: The September data have dashed any hopes that inflation is transitory.
"The U.S. consumer price inflation data for September is with us. With it, I will say tentatively, the debate over whether the current dose of inflation is merely transitory is almost at an end. There’s room for much argument about what should be done about rising prices, but there’s no longer any sensible way to dismiss this inflation episode as merely transitory."

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Re: Turn Out The Lights, The Party's Over
Posted by: Explainer In Chief ()
Date: October 19, 2021 10:05AM

OP has been posting about this 4 months and it looks like all the data and news articles are correct; run-away inflation is here and will persist.

When people vote to get "free" stuff, they de-value the dollar and add to the debt. That is a double whammy. Next time you go to buy chicken at the grocery store, don't complain about it. But make sure to reflect on why the price has gone up.

When you pay people to not work, you are giving away your money to them. When they don't work, it creates a supply chain issue because there aren't enough products being produced. Supply and demand is thrown out of whack. Prices increase. And your de-valued money is forced to pay the higher costs.

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Re: Turn Out The Lights, The Party's Over
Posted by: Researcher ()
Date: October 19, 2021 05:14PM

Reported today on CNBC:

Federal Reserve Chair Powell’s five measuring sticks on inflation aren’t holding up very well

Powell's five-point inflation checklist goes like this: Lack of broad-based pressures; lower moves in high-inflation items; low wage pressures; tepid inflation expectations, and long-lasting forces that have kept inflation low globally.

Since the speech, the data has pointed mostly to continuing and in some respects escalating price pressures. Markets have responded by pushing up the yield on the benchmark 10-year Treasury note by about a quarter percentage point.

But consumer expectations for inflation continue to surge, rising to 5.3% over the next year and 4.2% over the next three years, according to the New York Fed. Both are the highest in the history of a data series that goes back eight years.

And, on Forbes today:

Energy Crisis Threatens Return Of 1970s Inflation

The growing energy crisis is causing rising prices for groceries, cars, rent, and just about everything else. Americans have been here before — in the 1970s when oil shocks and soaring inflation defined the economy.

Is America on a similar course today? It can’t be ruled out.

While there are critical differences between the U.S. economy then and now, the inflation numbers speak for themselves, and Fed officials are no longer blindly assuming that rising prices are “transitory” and will reverse.

U.S. consumer prices increased solidly again in September, putting pressure on the Biden administration to urgently resolve strained supply chains, hampering economic growth.

In the 12 months through September, the Consumer Price Index (CPI) increased 5.4% after advancing 5.3% on a year-on-year basis in August. And that rate will move higher in the coming months as the recent energy price spike is factored in.

Today, oil prices are trading over $80 a barrel even though oil demand has not returned to pre-pandemic levels yet. Many experts think it is only a matter of time before they reach $100.

High fuel prices are also pushing up costs for deliveries of all goods, which threatens to stoke inflation further.

Household expenditures for all major home heating fuels will soar this winter, putting a huge, unexpected burden on consumers.

Compared with last winter, the U.S. Energy Information Administration forecasts propane expenditures will rise by 54%, heating oil by 43%, natural gas by 30%, and electricity by 6%. That means Americans will have less disposable income to spend on other goods and services.

The danger is that higher energy prices trigger demand destruction and cap economic growth. If that happens, there could be a scenario where 1970s style “stagflation” — inflation at higher-than-normal rates despite minimum growth — could make a return.
-----------------------

Looks like the lower and middle class are paying an invisible tax ;)

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Re: Turn Out The Lights, The Party's Over
Posted by: TodaysReport ()
Date: October 29, 2021 12:46PM

Today, CNBC reports:

Annual inflation rose at its fastest pace in more than 30 years during September despite a decline in personal income, the Commerce Department reported Friday.

Headline price pressures as gauged by the personal consumption expenditures price index including food and energy increased 0.3% for the month, pushing the year-over-year gain to 4.4%. That’s the fastest pace since January 1991.

The continued inflation jump came as personal income declined 1% in September, more than the expected 0.4% drop.

The headline inflation rate was pushed by a 24.9% increase in energy costs and a 4.1% gain in food. Services inflation rose 6.4% on the year while goods increased 5.9%.
------------------

Just getting worse ;)

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Re: Turn Out The Lights, The Party's Over
Posted by: EconomyChieftain ()
Date: November 09, 2021 09:04AM

Man oh man...reported this morning:

U.S. wholesale inflation surges again

The numbers: Wholesale prices in the U.S. surged again in October and offered little sign that the biggest increase in inflation in decades is going to peter out soon.

The producer price index rose 0.6% last month, the government said Wednesday. The wholesale cost of gas and vegetables both rose sharply.

Economists polled by The Wall Street Journal had forecast a 0.6% advance.

Since January wholesale prices have climbed at least 0.5% in every single month. Before the pandemic they averaged less than a 0.2% increase each month.

The pace of wholesale inflation over the past 12 months was flat at 8.6%. That’s the highest level since the index was reconfigured in 2009, and likely one of the highest readings since the early 1980s.

The yearly pace of inflation using the Federal Reserve’s preferred PCE price gauge just hit a 30-year high of 4.4%. And the better known consumer price index has jumped 5.4% in the same span. The latest CPI comes out Wednesday (tomorrow).
......................

How ya liking that invisible tax on middle class and lower income families that Joe Biden and Kamala Harris have ignored?

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Re: Turn Out The Lights, The Party's Over
Posted by: LookingAhead ()
Date: November 10, 2021 10:26AM

Well, I told you so....

Reported today on CNBC:

U.S. consumer prices jump 6.2% in October, the biggest inflation surge in more than 30 years

The consumer price index surged 6.2% from a year ago in October, the most since December 1990.
Core inflation, stripping out food and energy, increased 4.6%, the fastest gain since August 1991.
Energy, shelter and vehicle costs led the gains, which more than wiped out the wage increases that workers received for the month.

Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.

The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. That compared with the 5.9% Dow Jones estimate.

On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.

Fuel oil prices soared 12.3% for the month, part of a 59.1% increase over the past year. Energy prices overall rose 4.8% in October and are up 30% for the 12-month period.

Within the food category, meat, poultry, fish and eggs collectively rose 1.7% for the month and 11.9% year over year.

The price increases meant that workers fell further behind.

In a separate report, the Labor Department said real wages after inflation fell 0.5% from September to October, the product of a 0.4% increase in average hourly earnings that was more than offset by the CPI surge.

Shelter costs, which make up one-third of the CPI computation, increased 0.5% for the month and are now up 3.5% on a year-over-year basis, pointing to more reasons for concern that inflation could be more persistent than policymakers anticipate. The annual pace is the highest since September 2019.
................................

Joe Biden and Kamala Harris love taxes so they will do nothing. This is an invisible tax on the poor and middle class. Have a nice day.

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Re: Turn Out The Lights, The Party's Over
Posted by: MoMoneyMoMoney ()
Date: November 11, 2021 05:48PM

Today in the news:

Unrelenting Inflation Wiped Out Bump in Workers’ Wages

Last Friday, the DOL reported that average hourly earnings increased .4% in the month of October, about in line with analyst estimates CNBC reports.

Yesterday though, the DOL also reported that overall inflation added another .9% on top of 12-straight months of increasing prices, bringing inflation up 6.2% over the last year.

In fact, according to the Bureau of Labor Statistics, with the increase in inflation real average hourly earnings actually decreased .5% for the month.

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

Cliff's Notes version: Joe Biden and Kamala Harris have done nothing (ignored the problem) to solve the problem and now prices are going higher and your money is de-valued. Any salary raise or bump in hourly wage you may have gotten is now worthless and may have put you in a higher tax bracket. Way to go Joe and Kamala!!

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Re: Turn Out The Lights, The Party's Over
Posted by: WeAreFuqed ()
Date: November 15, 2021 11:22AM

Reported today:

(whichever poster said we couldn't raise the interest rate, you were dead on right)


The Consumer Price Index (CPI) jumped by 0.9 percent in October, rising 6.2 percent from 12 months prior. If annualized, that 0.9 percent rate would hit a double-digit inflation pace of 11.4 percent. The last time inflation hit double digits was from 1979 to 1981, when that three-year run devalued the dollar by 11, 13, and 10 percent annually before Federal Reserve Chairman Paul Volker and President Ronald Reagan wrung it out through tightened monetary policy and productivity increases.

We’re not likely to see either soon, as any increase in interest rates would immediately lead to a catastrophic increase in interest payments on the national debt, while President Biden’s regulatory policies and tax uncertainty are acting to discourage productivity investments.

The gloomy inflation news comes on the heels of a terrible Department of Labor third-quarter productivity report showing a 5 percent decline, the steepest drop since 1981. The same report indicated the price of labor per unit of output increased 8.3 percent at an annualized rate. The productivity decline was deepened by the early retirement of older, highly productive workers who were replaced by less experienced workers who are being paid more to entice them into the workplace.

additional note: it was just reported that CHINA just surpassed the United States in wealth...

Global Wealth Surges as China Overtakes U.S. to Grab Top Spot

(Bloomberg) -- Global wealth tripled over the last two decades, with China leading the way and overtaking the U.S. for the top spot worldwide.

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Re: Turn Out The Lights, The Party's Over
Posted by: ChickenGood ()
Date: November 15, 2021 04:15PM

Remember when the person posted that companies don't pay taxes, rather they raise prices to the consumer as a way to offset the increased cost of doing business?

Well...reported today:

Tyson Foods plans further price hikes to offset inflation pressures

The Springdale, Arkansas-based Tyson, the biggest U.S. meat company by sales, said chicken prices rose 19% during its fiscal fourth quarter while beef and pork prices jumped 33% and 38%, respectively.

- Note the increase in prices due to increased cost of doing business. That is the lower and middle class invisible tax hike you are paying.

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Re: Turn Out The Lights, The Party's Over
Posted by: jhefewhekjewjk ()
Date: December 02, 2021 11:11AM

Another grim prediction today:

https://www.forbes.com/sites/oliverwilliams1/2021/12/02/inflation-hits-15-fossil-fuels-boom-and-a-hypersonic-cold-war-starts-here-are-the-predictions-for-2022/?sh=c7e3a4b3fbbe

Inflation predicted to possibly be 15% in 2022. Not good.

"Employers will therefore have to increase wages for less desirable jobs. These increases could hit the "unprecedented" double-digit mark. Combine that with all the other inflationary pressures, an energy crisis, and supply chain disruption, and suddenly things spin out of control.

In such a scenario, the Federal Reserve will try to react, says Demik. "But this is already too late. It has lost credibility." Saxo Bank says U.S. inflation could go above 15% before 2023."

Also reported:

WASHINGTON — In a fresh sign of his growing concerns about inflation, Chair Jerome Powell said Wednesday that the Federal Reserve can’t be sure that price increases will slow in the second half of next year as many economists expect.

In the past, Powell, who was nominated last week to a second four-year term by President Joe Biden, has frequently expressed his belief that these supply-and-demand imbalances should fade as the pandemic eases, which would reduce inflation. But on Wednesday, he said that while such an outcome is “likely,” it is only a forecast.

“The point is, we can’t act as if we’re sure of that,” he said. “We’re not at all sure of that. Inflation has been more persistent and higher than we’ve expected.”

On Tuesday, Powell said he was ready to “retire” the use of the word “transitory” to describe inflation. Instead, he said the “risk of higher inflation has increased.”
------------------------------

Wow, way to go Joe Biden and Kamala Harris. Just drive the car off the cliff.

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Re: Turn Out The Lights, The Party's Over
Posted by: MoMoneyMoMoneyMoMoney ()
Date: December 03, 2021 09:57AM

In today's news:

WASHINGTON — Treasury Secretary Janet L. Yellen on Thursday said she believed it was time to stop characterizing inflation as temporary. Ms. Yellen’s remarks echoed those of Jerome H. Powell, the Federal Reserve chair, who said earlier this week that inflation was more than a short-term issue. “I am ready to retire the word transitory,” Ms. Yellen said. “I can agree that that hasn’t been an apt description of what we are dealing with.”

Also reported:

As prices creep higher for food, gasoline and other necessities, nearly half of U.S. households say they are feeling the financial strain, according to a Gallup survey released Thursday.

Roughly 45 percent of households are being hurt by price increases, according to a survey of nearly 1,600 people conducted Nov. 3 to Nov. 16. About 1 in 10 said that hardship was severe enough to affect their standard of living, while 35 percent described the hardship as “moderate.”

The effects were most acute in lower-income households, with 71 percent of those making less than $40,000 a year saying they experienced hardship, compared with 47 percent for middle-income households and 29 percent of those considered upper-income.

The nation’s median rent swelled 17.8 percent from January to November, according to the Apartment List’s National Rent Report. The median sales price of a single-family home hit $353,900 in October, according to the National Association of Realtors, up more than 13 percent year over year. Beef prices are up 20 percent in the same period, according to the BLS, and the cost of a carton of eggs has risen nearly 30 percent. On Thursday, the national average for a gallon of gas was $3.37, according to AAA, compared with $2.15 a year ago.
---------------------

Way to go Joe Biden and Kamala Harris. Keep doing nothing so your voters continue to suffer.

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Re: Turn Out The Lights, The Party's Over
Posted by: WatchOutMoFo ()
Date: December 07, 2021 09:54AM

Get ready. The new inflationary numbers will be released Friday 12/10 and economists are predicting the numbers are going to be bad. It's now predicted that this "transitory" inflation will extend through 2023.

Way to go Joe Biden and Kamala Harris. You ignored (and actually promoted) an invisible tax on the poor and middle class.

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Re: Turn Out The Lights, The Party's Over
Posted by: JOE IS More Interested ()
Date: December 07, 2021 10:25AM

In playing to the far leftists and his Democrats ,then upholding our constitution and standing up for the American people.

Its all building to a climax when he will take the walk of shame in 2023 after the American people minus the Democrat hacks have had enough

Joe Biden Worst US president of all time (DEMOCRAT)

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Re: Turn Out The Lights, The Party's Over
Posted by: MoPayLessWork ()
Date: December 07, 2021 02:39PM

This is really bad news...

CNBC reported today:

Labor productivity declined 5.2% from the previous three-month period. That was the biggest quarterly decline since the second quarter of 1960.

Unit labor costs, or the measure of how much businesses pay their per unit of input, rose 9.6% from the second quarter, which reflected a 3.9% increase in compensation combined with the decline in productivity.

Federal Reserve officials watch the productivity data closely for its impact on inflation. Low productivity levels tend to boost inflation as companies are forced to raise prices as unit labor costs increase and profit margins come under pressure.
----------------------

In other words, get ready for even more higher prices.

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Re: Turn Out The Lights, The Party's Over
Posted by: LookingAhead ()
Date: December 10, 2021 01:43PM

The numbers came out today for November...really bad news

Reported today:

Inflation surged 6.8% in November, even more than expected, to fastest rate since 1982

Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.

The consumer price index, which measures the cost of a wide-ranging basket of goods and services, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.

Energy prices have risen 33.3% since November 2020, including a 3.5% surge in November. Gasoline alone is up 58.1%.

Food prices have jumped 6.1% over the year, while used car and truck prices are up 31.4%, following a 2.5% increase last month.

Shelter costs increased 3.8% on the year, the highest since 2007 as the housing crisis accelerated.

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

Joe Biden and Kamala Harris love the extra taxes you pay on increased prices. I warned you guys back in June what to expect.

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Re: Turn Out The Lights, The Party's Over
Posted by: ShyyyytMoFo ()
Date: December 10, 2021 01:55PM

An hour ago:

President Biden brushed off government data showing the highest inflation in 39 years Friday, arguing that the declining value of the US dollar means that Congress should pass his $2 trillion social and environmental spending bill.

The Congressional Budget Office says the bill would add $367 billion in unfunded spending, potentially worsening inflation.
-------------------------------

You may hate Trump, but Joe Biden and Kamala Harris are a complete disaster and they want the US to jump off the cliff.

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Re: Turn Out The Lights, The Party's Over
Posted by: 654738 ()
Date: December 10, 2021 04:59PM

biden said no increase tax on anyone making less than 400k but we are paying the inflation tax and now he wants to take us further in debt which will make inflation worse and give us even more taxes. this aint a good move for anyone except the rich and they aint suffering like the poor and middle class.;

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Re: Turn Out The Lights, The Party's Over
Posted by: LookingAhead ()
Date: December 13, 2021 01:40PM

The Fed is meeting tomorrow to make a decision on how much they will taper and possibly raise interest rates.

I told you 6 months ago about this. Now, it's too late. Welcome to the next phase of a crushed economy: stagflation. Joe Biden and Kamala Harris spent so much money and raised the debt so high that tapering and raising interest rates will crush the economy. People will not buy houses. Businesses will not invest and expand. The economy will stagnate.

Stock market is tanking again today on the news about the Fed finally waking up (way too late) and trying something that will be ineffective because they were asleep at the wheel and taking orders from Joe Biden and Kamala Harris.

Reported today on the Wall Street Journal:

"The Biden Stagflation Is Coming
His approach to the economy is already causing prices to rise. It will soon stifle growth as well."
-------------------------------

Keep believing in those fucking idiots Joe Biden and Kamala Harris. You can certainly help them push the United States off the cliff. 2022 is NOT going to be a good year. I hope you saved your cash and stocked up on canned good. You're gonna need it.

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Re: Turn Out The Lights, The Party's Over
Posted by: ObamaEconomist ()
Date: December 13, 2021 08:06PM

Also reported today:

Top Obama Economist Debunks Biden Talking Point About Root Causes of Inflation

On Monday, Lawrence Summers — who worked as Treasury Secretary under the Clinton administration and National Economic Council director under the Obama administration — explained on social media that he “cannot understand” why White House officials “cling to the idea that inflation is caused by bottlenecks” and “will soon recede to normal levels.”

Summers also called it a “long shot” to believe that inflation will soon revert to “levels anywhere near” the Federal Reserve’s targets.

According to Summers, housing prices have increased by as much as 20% since last year — leading to a true inflation rate in the double digits. “Either the official indices are just wrong or more likely 3 to 4 points of inflation from housing are coming in 2022, even if there is no further increase in rents or home prices,” he explained. “This effect far exceeds any benefit from lower energy or used car prices.”

Summers therefore sees no immediate end in sight for high price levels.

“Given housing prices and tightening labor markets, there is no compelling reason to expect major deceleration in inflation,” he repeated. “But, even if inflation subsided to .2 percent a month, the annualized inflation rate would be 6.5% in March 5.1% in June and 4.0% before the election in September.”

(remember that part: trying to reduce before September elections so Biden can claim to have everything running just fine)

“I think it’s possible but quite unlikely that inflation will recede back to its normal 2 percent level without some significant change in the path … we’re now on,” he said. “I think the Fed has made a significant mistake in the approach that it’s taking by doubling down on the massive fiscal stimulus we had at the beginning of the year with really easy monetary policy.”
---------------------------------

Just amazing how disastrous Joe Biden and Kamala Harris actually are. And we are paying for it.

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Re: Turn Out The Lights, The Party's Over
Posted by: TheBigLie ()
Date: December 13, 2021 08:13PM

Pay attention to this one...because it DIRECTLY affects you:

Last week, Bureau of Labor Statistics officials trotted out a new inflation-reporting gimmick. They will adjust the formula for measuring CPI.

The two-sentence announcement simply states the index will use consumer expenditure data from 2019-2020. There isn’t enough detail to know exactly what this means, but it looks like an effort to raise the baseline numbers and thereby moderate reported price increases.

(Yes, it's a deliberate attempt to lie about how high inflation is rising. It's like changing the definition of average so obese people don't feel as bad.)

Americans will know for sure the fix is in when the headline CPI numbers begin to decline, and the financial press starts cheering Biden and the Fed for conquering the inflation dragon.
---------------------------------

Get ready for the Great Big Lie.

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Re: Turn Out The Lights, The Party's Over
Posted by: AnotherLie ()
Date: December 14, 2021 09:14AM

Today:

Marketwatch:

Senate Democrats are expected to vote Tuesday to raise the borrowing limit, just one day before the date on which Treasury Secretary Janet Yellen had warned the country would default on its outstanding bills.

“Last week we advanced bipartisan legislation that will enable the chamber to address the debt ceiling on a fast-track basis,” Senate Majority Leader Chuck Schumer said in a floor speech on Monday. “For the information of all, the Senate will act tomorrow to prevent default.”

While Schumer didn’t specify by how much the Senate would raise the debt limit, analysts expect the sum to be around $2 trillion, enough to get the Treasury comfortably past the mid-term elections.
----------------------------

Raise the debt limit, lower the value of your money further, all in an attempt to postpone default beyond midterm elections. $2 TRILLION more??? Way to go Joe Biden and Kamala Harris. Kick the can down the road a little so democrats have a better chance in the midterm elections.

But then your money has no value. It's ok, as long as the politicians stay in office. Right?

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Re: Turn Out The Lights, The Party's Over
Posted by: WhoaPPI ()
Date: December 14, 2021 09:55AM

Just reported:

New York (CNN Business) A key inflation gauge showed that US prices continued to climb in November.

The producer price index (PPI) — which tracks the average changes in selling prices that domestic producers receive over time — rose 9.6% over the 12 months ended in November. It was the biggest jump since the data series was first calculated in November 2010, according to the Bureau of Labor Statistics, and a larger advance than economists had expected.
----------------------------

Another loss for the consumer under Joe Biden and Kamala Harris. Nice.

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Re: Turn Out The Lights, The Party's Over
Posted by: ReportedToday ()
Date: December 15, 2021 09:14AM

Reported today:

The numbers: The cost of imported goods increased sharply in November, contributing to the highest rate of U.S. inflation in almost 40 years.

The U.S. import price index jumped 0.7% last month, the government said Wednesday. Economists polled by The Wall Street Journal had forecast a 0.6% advance.

Over the past year import prices has climbed 11.7%. The last time they rose that fast before the pandemic was in 2011.

Also reported:

U.S. retail sales climb tepid 0.3% in November as Americans confront high inflation

The numbers: Amazon, Target and other retailers posted a small 0.3% increase in sales in November, but high inflation suggests consumers bought fewer goods and services than expected at the start of the holiday shopping season.

Economists polled by The Wall Street Journal had forecast a 0.8% increase.

Yet the rise in sales was outstripped by a higher cost of living. The consumer price index jumped 0.8% in November to push the yearly rate of inflation to a 39-year high of 6.8%. Adjusted for inflation retail sales appeared to have declined. The big danger is if high inflation persists and price increases become embedded in the economy. That could force the Federal Reserve to jack up interest rates, further raise business costs and discourage consumers from buying as many goods and services.
-----------------------------------------

Looks like Joe Biden and Kamala Harris have ignored the problem so long now that shoppers have almost stalled out retail sales. Joe Biden, go take another nap and make sure to ignore the problem and the people telling you about the hardships they are having with your economy.

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Re: Turn Out The Lights, The Party's Over
Posted by: RateHikesComing ()
Date: December 15, 2021 03:58PM

Reported today from the Fed meeting:

The Federal Reserve on Wednesday announced plans to accelerate the wind down of pandemic-era stimulus for the U.S. economy and penciled in at least three interest rate hikes next year as policymakers seek to combat the hottest inflation in four decades.

The Federal Open Market Committee said at the conclusion of its two-day policy-setting meeting this week that it would double the reduction of its asset-purchase program to $30 billion a month, a timeline that could phase out the purchases entirely by March rather than the original June trajectory laid out last month.

Every Fed official has penciled in at least one rate hike next year – a considerable shift from September, when half of the central bankers believed interest rate increases were not warranted until at least 2023.

Officials now project rates to stand at 0.9% at the end of 2022, 1.6% at the end of 2023 and 2.1% at the end of 2024.
--------------------------------------------

1. It's about fucking time
2. People, get your loans and FIXED mortgages while you can before the rates go up
3. I can't stand Dementia Joe and his administration but I hope this works our way out of the Biden-ignored inflation.

We'll see if "tapering" works. Because federal interest rate hikes are also a tax on the poor and middle class.

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Re: Turn Out The Lights, The Party's Over
Posted by: TheTaxesComputed ()
Date: December 16, 2021 11:44AM

This was posted today:

The Wharton School of Business at the University of Pennsylvania ran the numbers to analyze what American households will have to spend in 2021 to maintain the same living standard from 2020 or 2019. Their analysis reports that “inflation in 2021 will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in recent previous years.”

That’s right: Thanks to the ongoing price inflation, families basically just got $3,500 poorer. The Wharton analysis also notes that lower-income households will be hit even harder by these price increases than higher-earning families, because lower-income families tend to spend relatively more of their money on particular goods that have seen the heaviest price hikes.
----------------------------------------------

Think about that. The inflation tax that Joe Biden ignored cost you $3500 extra. If your household income is $100k (unlikely for many of you), that was a 3.5% tax increase AFTER you already paid your federal taxes on that $100k. Assuming you pay 20% taxes, that $80K take-home pay with an extra $3500 inflation bill (extra money for goods and services post-tax) actually comes out to be an additional 4.4% tax due to the inflation that Joe Biden ignored.

This doesn't take into account how bad that inflation tax was for lower middle-income and poor families.

Way to go Joe! You sack of shit.

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Re: Turn Out The Lights, The Party's Over
Posted by: 2022Outlook ()
Date: January 05, 2022 04:03PM

Ouch, that's gonna hurt...

reported today...and then the market tanked:

Federal Reserve officials at their meeting last month eyed a faster timetable for raising interest rates this year, potentially as soon as in March, amid greater discomfort with high inflation.

Minutes of their Dec. 14-15 meeting, released Wednesday (today 1/5/2022), showed officials believed that rising inflation and a very tight labor market could call for lifting short-term rates “sooner or at a faster pace than participants had earlier anticipated.”

Inflation could linger longer than previously expected, Federal Reserve officials discussed in December. When Fed leaders convened in mid-December, they made their strongest move yet to tackle inflation, moving up the timeline for what could be as many as three interest rate hikes in 2022.
-----------------------

Joe Biden and Kamala Harris sure did phuck this one up. Ladies and Gents, get ready for a bad 2022.

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Re: Turn Out The Lights, The Party's Over
Posted by: Single, No Kids ()
Date: January 05, 2022 08:49PM

TheTaxesComputed Wrote:
-------------------------------------------------------
> This was posted today:
>
> The Wharton School of Business at the University
> of Pennsylvania ran the numbers to analyze what
> American households will have to spend in 2021 to
> maintain the same living standard from 2020 or
> 2019. Their analysis reports that “inflation in
> 2021 will require the average U.S. household to
> spend around $3,500 more in 2021 to achieve the
> same level of consumption of goods and services as
> in recent previous years.”
>
> That’s right: Thanks to the ongoing price
> inflation, families basically just got $3,500
> poorer. The Wharton analysis also notes that
> lower-income households will be hit even harder by
> these price increases than higher-earning
> families, because lower-income families tend to
> spend relatively more of their money on particular
> goods that have seen the heaviest price hikes.
> ----------------------------------------------
>
> Think about that. The inflation tax that Joe Biden
> ignored cost you $3500 extra. If your household
> income is $100k (unlikely for many of you), that
> was a 3.5% tax increase AFTER you already paid
> your federal taxes on that $100k. Assuming you pay
> 20% taxes, that $80K take-home pay with an extra
> $3500 inflation bill (extra money for goods and
> services post-tax) actually comes out to be an
> additional 4.4% tax due to the inflation that Joe
> Biden ignored.
>
> This doesn't take into account how bad that
> inflation tax was for lower middle-income and poor
> families.
>
> Way to go

I make $259.
I’ll be okay.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: DaNumbahs ()
Date: January 10, 2022 09:55AM

New inflation numbers due out Wednesday Jan 12. Analysts predict the numbers are going to be bad.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: TheJungle ()
Date: January 12, 2022 10:01AM

Welcome to the jungle...

Reported today, and predicted by analysts:

Inflation surges 7% in December, highest rate in 40 years

So-called core prices, which exclude more volatile measurements of food and energy, soared 5.5% in December from the previous year – a sharp increase from November, when it rose 4.9%. It was the steepest 12-month increase since 1991.

"It’s the highest annual CPI number since 1982 and driven not by energy prices, but by just about everything else."

The eye-popping reading – which marked the seventh consecutive month the gauge has been above 5% – will likely amp up pressure on the Federal Reserve to begin hiking interest rates as soon as March in order to combat the recent price surge. Hiking interest rates tends to create higher rates on consumers and business loans, which slows the economy by forcing them to cut back on spending.
-------------------------

Get ready boys and girls. 2022 is gonna be a bumpy ride with a crashing economy (with at least 3 fed rate increases) and (my prediction) filled with layoffs.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 2022to2024 ()
Date: January 14, 2022 11:53AM

Forbes released a news article...really scary:

With the Consumer Price Index up seven percent in the 12 months through December, it will soon be time for the Fed to get started. But once the Fed tightens, how long will it take for inflation to retreat?

A common rule of thumb has been a two-year time lag between monetary policy and inflation. The lag from policy to spending, production and employment is shorter, but the time lag to change inflation is long. A recent survey shows even longer time lags.

Tomas Havranek and Marek Rusnak, writing in the International Journal of Central Banking, conducted a meta-analysis of 67 published studies of the time lag. They concluded, “The average transmission lag is twenty-nine months ….” They also found the time lag to be longer, on average in developed countries such as the United States.

71% of analysts predict high inflation will be with us through 2024.

However, the average length of the time lags argues for high inflation for some time to come. The Fed’s stimulus was huge in March and April of 2020. That is, no doubt, driving current inflation in 2022. But 2021’s stimulus was very strong from February through November, with less stimulus—but still stimulus—planned in 2022. So 2022’s inflation is probably baked in the cake, with 2023’s inflation substantially determined by monetary policy that has already occurred.

When the Fed slows it’s purchases of long-term bonds and mortgage-backed securities, and then raises short-term interest rates a bit, inflation will appear to be unresponsive to monetary policy. The Fed, having tapped the brakes to no effect, will have to press down harder and on a sustained basis. Jerome Powell’s Senate testimony made clear that the Fed was not about to stomp hard on the brake pedal. That means that inflation will probably remain high through 2024.

Those pesky time lags of monetary policy, however, will probably lead the Fed to wait too long (and they probably already have) and then fight inflation in a way that leaves the economy in recession. It’s not a happy outcome, and it won’t happen right away, but business leaders should prepare for a downturn in the next few years.
-------------------------

For those of you who were too busy or lazy to read:

Be prepared to pay the inflation tax for the next 2 years (at least) as well as a distinct possibility for a real possibility of recession/stagflation and layoffs.

You may want to remove you Joe Biden and Kamala Harris bumper stickers.

Options: ReplyQuote
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.

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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.

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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.

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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.
.

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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

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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

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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.

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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.

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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!!!

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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."

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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.

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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.

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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.

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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?

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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.

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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/

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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.

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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.

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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).

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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.

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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.

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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"

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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.

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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? ;)

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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.

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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).

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














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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.

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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.

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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.

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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%

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





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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.

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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

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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.

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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!!








































































































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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.

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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.

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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.

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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.

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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.

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Re: Turn Out The Lights, The Party's Over
Posted by: 26SepReport ()
Date: September 26, 2022 02:49PM

Just reported on CBS news:

Buckle up, America: The Fed plans to sharply boost UNEMPLOYMENT

In case the U.S. economy wasn't hurting enough already, the Federal Reserve has a message for Americans: It's about to get much more painful.

Fed Chair Jerome Powell made that amply clear last week when the central bank projected its benchmark rate hitting 4.4% by the end of the year — even if it causes a recession.

With additional millions out of work, the newly unemployed and their families would sharply cut back on spending. That, in turn, slows the growth in prices.
-------------------------------------

Slow Joe and the tax-and-spend people out there will keep their jobs. Will you?

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Re: Turn Out The Lights, The Party's Over
Posted by: 26FebContinued ()
Date: September 26, 2022 02:51PM

Layoffs ahead
In the meantime, the Fed's existing rate hikes have put about 800,000 job losses in the pipeline, according to predictions from Oxford Economics.

"When we look at 2023, we see almost no net hiring in the first quarter and job losses of over 800,000 or 900,000 in the second and third quarter combined," said Nancy Vanden Houten, Oxford's lead U.S. economist.

Others predict an even harder landing, with Bank of America expecting a peak unemployment rate of 5.6% next year. That would put an ADDITIONAL 3.2 million people out of work above today's levels.

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Re: Turn Out The Lights, The Party's Over
Posted by: 29Sep2022Report ()
Date: September 29, 2022 10:19AM

Reported today: Confirmed, The US is in a recession Recession

U.S. economy shrank in the first half of 2022, updated GDP figures confirm

The numbers: The U.S. shrank in the first six months of the year, revised government figures confirm, and painted a picture of economy buffeted by strong headwinds and tailwinds.

Gross domestic product, the official scorecard of the economy, fell at a 0.6% annual clip in the second quarter, the Bureau of Economic Analysis said Thursday. That’s unchanged from the prior estimate.

The previously reported 1.6% decline in first-quarter GDP, meanwhile, was also unchanged.

The growth in income — the flip side of spending — was revised down in the second quarter to 0.1% from a previous 1.4%. Income growth was also lowered to 0.8% in the first quarter from 1.8%.
-----------------------------------------

Of course! Revised numbers show things were worse. Way to go Joe. 2023 is going to be really rough because of Dem print-and-tax policies.

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Re: Turn Out The Lights, The Party's Over
Posted by: Oct5Report ()
Date: October 05, 2022 09:05AM

Reported today:

U.S. National Debt Tops $31 Trillion for First Time

WASHINGTON — America’s gross national debt exceeded $31 trillion for the first time on Tuesday, a grim financial milestone that arrived just as the nation’s long-term fiscal picture has darkened amid rising interest rates.

The breach of the threshold, which was revealed in a Treasury Department report, comes at an inopportune moment, as historically low interest rates are being replaced with higher borrowing costs as the Federal Reserve tries to combat rapid inflation. While record levels of government borrowing to fight the pandemic and finance tax cuts were once seen by some policymakers as affordable, those higher rates are making America’s debts more costly over time.

Also...

US Mortgage Rates Rise for Seventh Week to Highest in 16 Years

(Bloomberg) -- US mortgage rates jumped to a 16-year high of 6.75%, marking the seventh-straight weekly increase and spurring the worst slump in home loan applications since the depths of the pandemic.

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

Joe Biden's plan along with Democrat tax and spend policy will push the US government to default on its debt, while pushing lower and working class deeper into debt and furthering their inability to purchase a home. Once again, the lower and working class are kept in their place by policy of financial slavery. Keep voting for them if you want the same result.

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Re: Turn Out The Lights, The Party's Over
Posted by: October12Report ()
Date: October 12, 2022 12:58PM

CNN reports today, more bad news:

This key inflation measure shows prices rose faster than expected last month

(CNN) — A key measure of inflation increased faster than expected in September, raising concerns that the Federal Reserve’s aggressive rate hikes are having limited impact in bringing inflation under control.

The US Producer Price Index, which tracks what America’s producers get paid for their goods and services, rose at an annual pace of 8.5% in September, down slightly from the 8.7% rise in August, the Labor Department reported Wednesday. But the report showed prices rose 0.4% month-over-month.

Economists expressed disappointment in the report and what it said about efforts to bring rising prices under control.

Energy prices ticked up 0.7% in September, compared to August, after two month-over-month declines in July and August, and food prices soared posted a 1.2% one-month increase after a slight decline in August.

Stripping out volatile food and energy prices, the report showed that the prices of other goods were unchanged in September — but the price of services rose 0.4% for the month.

President Joe Biden told CNN’s Jake Tapper on Tuesday that while he doesn’t expect a recession, there is a possibility of a “very slight recession.”

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

Joe, you are delusional. First, you said there is no inflation. Then inflation is transitory. Then you said rates may cause some pain but no recession. Now, you say we will have a slight recession. Joe Biden and the whole administration are a bunch of fucking liars.

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Re: Turn Out The Lights, The Party's Over
Posted by: Well Joe Biden ()
Date: October 12, 2022 08:38PM

And his admin are all DEMOCRATS what else can be expected but lies and failure

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Re: Turn Out The Lights, The Party's Over
Posted by: Oct_13_bad report_again ()
Date: October 13, 2022 09:18AM

Just reported....really shitty news

Inflation Spiked Worse-Than-Expected 8.2% In September. Core Inflation Hits NEW Four-Decade High.

Economists were expecting prices to rise 8.1% year over year after they spiked 8.3% in August.

Overall prices were up 0.4% on a month-to-month basis—exceeding economist expectations of 0.3% and up from 0.1% in August, according to data released by the Labor Department on Thursday.

Prices increased 6.6 percent after stripping out fuel and food — which tend to be volatile and are often removed from inflation readings to allow for a better sense of underlying trends — an UPTICK in the so-called core index that was also more than economists expected.
--------------------------------------

The democrat inflation tax continues to throat bang the working and middle class. It's been said before: get ready for a deep recession. A mild recession is already underway no matter what the media tells you. Actual government-released figures prove this. The current administration keeps deflecting but they are very wealthy and don't have to worry about the cost of living.

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Re: Turn Out The Lights, The Party's Over
Posted by: Oil4Votes ()
Date: October 18, 2022 02:28PM

Reported today:

Joe Biden — a president who wants to move past fossil fuels — is rushing to increase oil supplies ahead of next month’s midterm elections.

White House officials say that Biden could order an additional release from the US Strategic Oil Reserves as early as Wednesday, when chief of staff Ron Klain said he is set to deliver remarks on his administration’s efforts to lower gasoline prices.

Still, reserves are at their lowest levels since 1984 after Biden in March announced the release of 180 million barrels over six months. The officials spoke on the condition of anonymity because they were not authorized to discuss plans publicly ahead of a White House announcement.

Bloomberg News reported Monday that the administration is moving toward an additional release of 10 million to 15 million barrels. That range would not cover even one full day’s use of oil in the U.S., according to the Energy Information Administration.
----------------------------------

Joe Biden is such a retard.

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Re: Turn Out The Lights, The Party's Over
Posted by: SiSenor ()
Date: October 18, 2022 02:57PM

This just in...

White House Pressured Democratic El Paso Mayor Not to Declare Migrant Emergency

The Democrat mayor of El Paso, Texas, was pressured by the White House not to declare a state of emergency over the city's migrant crisis due to fear it would make President Joe Biden look bad.

Democrat Mayor Oscar Leeser told an El Paso council member the White House asked him not to declare an emergency, despite at least three of eight city council members urging him to do so.

"He told me the White House asked him not to," council member Claudia Rodriguez.

El Paso already has seen thousands of migrants fill the city's shelters. Local hotels now are being used to house some immigrants, sources told the newspaper. The Biden administration was pressuring local officials not to declare emergencies over the migrant crisis at the southern border.

"It is a sleight of hand what the administration is doing — pressuring the local government to not issue a declaration of emergency, to say as if everything is going OK," said Gonzales, who added the White House has done "the same thing in other parts of my district."

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

But but but, there's no southern border problem. Right? Biden is a deflecting piece of shit.

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Re: Turn Out The Lights, The Party's Over
Posted by: October28Info ()
Date: October 28, 2022 09:28AM

Reported today...Biden is delusional or just a piece of shit liar

President Biden said during a Thursday speech that the price of gasoline was "over five dollars" when he took office, despite the actual average price of regular gasoline being $2.39.


"The most common price of gas in America is $3.39, down from over five dollars when I took office," Biden said. "We need to keep making that progress by having energy companies bring down the cost of a gallon of gas that reflects the cost of paying for a barrel of oil."

However, the national average price for a gallon of regular gasoline in the week ending Jan. 25, 2021, shortly after Biden took office, was $2.39, according to data from the Energy Information Administration. The average price for a gallon of regular gasoline didn't hit $5 until June 2022, which is well over a year after Biden took office.

The current national average for a gallon of regular gasoline is $3.76, over 30 cents more than Biden claimed Thursday.
-----------------------------------------

“Repeat a lie often enough and it becomes the truth”, is a law of propaganda often attributed to the Nazi Joseph Goebbels. Among psychologists something like this known as the "illusion of truth" effect.

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Re: Turn Out The Lights, The Party's Over
Posted by: Oct28InflationReport ()
Date: October 28, 2022 09:37AM

Inflation report this morning:

WASHINGTON — A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.

Friday's report from the Commerce Department showed that prices rose 6.2% in September from 12 months earlier, the same year-over-year rate as in August.

Excluding volatile food and energy costs, so-called core prices rose 5.1% last month from a year earlier. That's also faster than the 4.9% annual increase in August.

The Fed’s hikes have led to much higher loan rates for businesses and consumers, particularly for mortgages. The average 30-year fixed mortgage rate surged past 7% this week, according to Freddie Mac, the highest level in two decades and more than twice what it was a year ago.

Sales of existing homes have dropped for eight straight months and are down nearly 25% in the past year. New-home sales and construction are also falling.

A weaker housing market has slowed the economy, as fewer home purchases also drag down sales of furniture, appliances, and home improvement gear.
------------------------------------

I told you before: be prepared...a recession has been here and will continue to get worse with layoffs

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Re: Turn Out The Lights, The Party's Over
Posted by: Nov2Report ()
Date: November 02, 2022 02:11PM

Just announced:

Just announced 7 minutes ago, the Fed just raised the interest rates another 3/4 point. Your credit card interest, variable rate loans and mortgages, auto loans, and rates at which your boss can borrow money for company investments ALL just went up.

Be ready, it's going to get worse. Unemployment HAS to go up to tame the inflation tax brought to you by Biden and the Democrats when they gave out "free" money. Next month, expect to see a 1/2 to 3/4 point increase again.

Yesterday, a report was released that the US consumer is now spending $435 per month extra due to the inflation tax. Nice.

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Re: Turn Out The Lights, The Party's Over
Posted by: MortgageReport ()
Date: November 02, 2022 04:11PM

Also just reported from the Mortgage Bankers Assoc:

Mortgage applications down 41% in the past 12 months. Mortgage refinances down 85% from a year ago. Housing industry recession is brutal due to the Democrat inflation tax and recession. It will be 10 years before you gain back the equity you had in your home that has evaporated.

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Re: Turn Out The Lights, The Party's Over
Posted by: PotHole ()
Date: November 02, 2022 09:45PM

Bump

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Re: Turn Out The Lights, The Party's Over
Posted by: GetReady ()
Date: November 08, 2022 11:36AM

Get ready...

October’s Consumer Price Index (CPI) report arrives Thursday (11/10). Analysts expect it to show a very slight drop to a gain of around 8% year over year. That would be down from 8.2% in September but still near 40-year highs.
--------------------

Get ready in December for at least another half point Fed rate increase, with a decent chance of a 3/4 point increase. The economy is only going to get worse. The automobile market nationally is tanking. The housing market nationally is tanking. Layoffs are increasing.

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Re: Turn Out The Lights, The Party's Over
Posted by: Hvfryg ()
Date: November 08, 2022 12:01PM

Yes but now the shitty economy can be blamed on republicans because they will be blocking Bidens agenda to fix things.

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Re: Turn Out The Lights, The Party's Over
Posted by: kenbegej ()
Date: November 08, 2022 02:11PM

Hvfryg Wrote:
-------------------------------------------------------
> Yes but now the shitty economy can be blamed on
> republicans because they will be blocking Bidens
> agenda to fix things.

Fixing your own fuckup isn't a reasonable campaign strategy.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Bumpsie ()
Date: November 08, 2022 05:30PM

Liberal drug spammer bump

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Re: Turn Out The Lights, The Party's Over
Posted by: jhfdrbkhgg ()
Date: November 08, 2022 05:37PM

Faggot drug spammer bump

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Re: Turn Out The Lights, The Party's Over
Posted by: RememberThis ()
Date: November 13, 2022 08:34AM

The latest CPI report shows inflation dipped slightly, but still remains at a 30 year high level. Be prepared for a half point fed rate increase in December followed by several quarter or half point increases. The pain is here and it will be 2 years before the fed rates come back down. Remember, the fed will slowly back off the rates too. So you will be paying higher interest rates for the next several years. This will keep you out of the housing market and force you to pay higher interest rates on credit cards and automobile loans. In addition, the company you work for won't be able to afford loans for future investment and growth. If companies can't grow, your job is in jeopardy. If the Democrats you voted for end up increasing the corporate tax rate, the prices of products and services will increase and people will slow or stop buying from your company. When this happens, you are screwed. Remember (again), companies pass through taxes to the consumer.

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Re: Turn Out The Lights, The Party's Over
Posted by: gfrgjiutf ()
Date: November 13, 2022 05:48PM

true but you trying to reason with people voting for free shit

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Re: Turn Out The Lights, The Party's Over
Posted by: LongerHigher ()
Date: November 30, 2022 02:45PM

Reported today:

WASHINGTON — The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday, in remarks likely intended to underscore the Fed’s single-minded focus on combating stubborn inflation.

Powell also signaled in a written speech to be delivered to the Brookings Institution that the Fed may increase its key interest rate by a smaller increment at its December meeting, only a half-point, after four straight three-quarter point hikes. But Powell also stressed that the smaller hike shouldn’t be taken as a sign the Fed will let up on its inflation fight anytime soon.
-----------------------------

The Biden/Harris inflation tax will drag on. You're welcome. ;)

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Re: Turn Out The Lights, The Party's Over
Posted by: TodaysReport ()
Date: December 01, 2022 10:20AM

Hidden (continued) bad news:

The core personal consumption expenditures price index, leaving out often volatile food and energy costs, rose 0.2% in October from a month earlier. But that was below estimates of a 0.3% increase and down from the 0.5% jump in September.

Overall, price increases for gasoline and other energy goods were offset by widespread decreases in prices for durable goods, the report said. However, prices for services led by food, accommodations and housing rose.

On an annual basis, the PCE rose 6%, down from 6.3%, while the core index increased 5%, down from 5.2%.
------------------------------------

The Biden administration is doing a victory lap for an INCREASE in prices. Albeit, the increase seems to have slowed very slightly and doesn't include the things we use most (gas and food). But this is absolutely no time to do a victory dance.

The Democrat/Biden inflation tax is here to stay well into 2024/2025 by way of increased fed interest rates. I saw a news report on all the news networks the other day that the average household INCREASE expenditure at this point due to inflation is already around $430 per MONTH. Some people making good money don't see this as painful but lower income and lower middle class are getting ass-raped by the Democrats. Just wait. It's going to get worse. When the Democrats raise the corporate tax rate, the price of goods nd services will continue higher.

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Re: Turn Out The Lights, The Party's Over
Posted by: PreChristmasReport ()
Date: December 12, 2022 11:46AM

Get ready for the next report tomorrow, but this was reported today:

(Reuters) - The dollar eased on Monday but its losses were contained by data last week that showed U.S. wholesale inflation rose more than expected last month, reinforcing the view that the Federal Reserve may have to keep interest rates higher for longer.

The Fed is widely expected to deliver a rate hike of the same size after a series of 75-basis point increases, especially given the tightness in the labor market and a reasonably resilient economy.

Friday's data that showed U.S. producer prices rose 7.4% year-on-year in November, compared with forecasts for a rise of 7.2%, has reminded investors of how sticky inflation is proving.

Consumer inflation data for November lands on Tuesday and is expected to show a 6.1% increase in the core reading, which excludes food and energy prices, down from 6.3% in October.
--------------------------------

Slow Joe Biden is expected to do a premature victory dance, but the battle is VERY far from over. Interest rates will be higher for longer, and you will be paying the Democrat/Biden inflation and interest rate tax hike along the way. Reminder, the interest rates may peak by mid-2023 but then there's the question of when the interest rates will come back DOWN. The fed doesn't just delete interest rates overnight. It will be well into 2024/2025 before interest rates come back down. During this time, you will be paying more and your boy Joe will be collecting more as a reward for his failed fiscal policy. Oh, that's fair.

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Re: Turn Out The Lights, The Party's Over
Posted by: NotFalling ()
Date: December 13, 2022 10:49AM

As Biden takes an undeserved victory lap, you are not paying attention to the reality of today's report:

Reported this morning...

WASHINGTON, Dec 13 (Reuters) - U.S. consumer prices ROSE less than expected for a second straight month in November, resulting in the smallest annual INCREASE in inflation in nearly a year and giving the Federal Reserve cover on Wednesday to start scaling back the size of its interest rate increases.

But Americans still faced higher prices for food and rental housing.

The Fed is expected to increase its benchmark overnight interest rate by 50 basis points on Wednesday.

Excluding the volatile food and energy components, the CPI increased 0.2% last month. That was the smallest increase in the so-called core CPI since August 2021 and followed a 0.3% rise in October. The core CPI was lowered by prices for used cars and trucks, which dropped 2.9% and were down for a fifth straight month.
-----------------------------

Is that clear enough for you? Inflation (CPI) is still increasing and would have been a lot worse if the price of cars and trucks didn't fall.

In the end, you will be paying this Biden inflation tax for several years down the road. Some experts have said it may take a DECADE to get back to where we were and some say 2% is a thing of the past we will never go back to. The consensus is going above 8%, reverting to 3% usually takes 6 to 20 years, with a median of over 10 years.

The Biden inflation tax will be with us for a looong time.

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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.

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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

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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.

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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.

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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.

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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.

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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

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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.

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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.

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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.

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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.

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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.

Options: ReplyQuote
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.”

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Re: Turn Out The Lights, The Party's Over
Posted by: NiteyNight ()
Date: February 16, 2023 10:10PM

Nighty night

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Re: Turn Out The Lights, The Party's Over
Date: February 18, 2023 08:29AM

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Re: Turn Out The Lights, The Party's Over
Date: February 20, 2023 04:33AM


Options: ReplyQuote
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.

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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.

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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.

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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.

Options: ReplyQuote
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.

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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.

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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.

Options: ReplyQuote
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.

Options: ReplyQuote
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.

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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.

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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.

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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.

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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.

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Re: Turn Out The Lights, The Party's Over
Posted by: BadNewsComing ()
Date: April 10, 2023 01:34PM

Get ready for some bad news over the next week and beyond

First off, inflation numbers will come out and fed will be forced to raise interest rates AGAIN. The Biden inflation tax will bend you over AGAIN. Is it starting to feel good yet?

Second, you may want to start preparing for a war with China. For those not in the know, Taiwan makes 90% of the worlds computer chips. This is why China wants to own Taiwan. the US is sending troops, ships, etc and a war will likely break out before the end of 2023 calendar year. I don't think it'll end up being a nuclear disaster BUT it will be the end of trade and a huge pot of money going to protecting Taiwan. What does this mean? More money printed to fund that war (devaluing your money), less products to buy due to the end of trade, and hyper-inflation. If China wins, also count on lack of available cars, tvs, phones, computers, and anything else that uses computer chips.

China has to invade before/during the upcoming election cycle. Biden has proven to be weak on military and China will exploit this before the possibility of Biden being replaced.

You are about to really feel the pain from not being independent.

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: 3g3h59 ()
Date: April 10, 2023 01:59PM

Little red riding hood.

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Re: Turn Out The Lights, The Party's Over
Posted by: kewnbevbej ()
Date: April 10, 2023 02:00PM

its worse than everything listed, the brics nations are buying up gold and will be launching a dollar competitor soon which will devalue the dollar. we are all fukd with this and already high inflation

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Re: Turn Out The Lights, The Party's Over
Posted by: 12April2023Report ()
Date: April 12, 2023 09:02AM

Reported this morning:

Consumer prices climbed at a 5% annual pace in March, marking a slowdown from February as energy costs fell. BUT growth in core prices, which strips out the volatile food and energy categories, accelerated to a 5.6% annual pace.

The consumer-price index increased 0.1% in March from a month earlier, the Labor Department reported Wednesday, compared with a 0.4% climb in February.

A rise in annual price growth for core prices would be the first increase in the measure since September. It would also underscore the lack of progress in bringing price hikes under control, and that spells trouble for the Fed.
-------------------------------

Get ready for another quarter point increase in the fed rate. Even if inflation and core prices actually come down, the shit's gonna hit the fan when China invades Taiwan and trade ends between China and the US.

Biden has significantly weakened the US military, opened the southern border to allow fentanyl and terrorists to invade, allowed a spy balloon to transmit military data back to China, strapped you with an inflation tax that will last for another 4-5 years, all while he and his rich friends live a life of luxury.

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Re: Turn Out The Lights, The Party's Over
Posted by: The Writings On The Wall ()
Date: April 13, 2023 11:19PM

>the shit's gonna hit the fan when China invades Taiwan and trade ends between China and the US.

This will cause the US retail industry to collapse putting millions of of jobs creating a huge national depression and busting our availability to pay federal pensions and social security people worked for while at the same time paying unemployment to those millions more out of work

We will be plunged into a deep national depression as China keeps building up their military crime will soar while the US people will only see gun bans and threats to our rights from Democrats who are primarily responsible for our US manufacturing jobs going to China due to the over reach of the EPA under Democrats administrations and numerous laws state and federal giving Unions powers that crippled manufactures with excessive demands that they could not afford while maintaining operations in the USA . In addition to cripple US manufacturing Democrats resisted efforts to curtail liability lawsuits with state and federal tort reform laws which have taken their toll upon American manufactures business and the medical profession with higher health care costs

To put it short the real possibility of the US entering a deep very bad depression is as real as it can be, which can only harm further our US national defense of which any Democrats gun bans will accelerate the harm to defend this counties soil if China decides to engage the US in a conventional war

United We Stood Strong But Now Divided by Democrats We Are Much Weaker

Options: ReplyQuote
Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: April 14, 2023 03:09PM

The Writings On The Wall Wrote:
-------------------------------------------------------
> >the shit's gonna hit the fan when China invades
> Taiwan and trade ends between China and the US.
>
> This will cause the US retail industry to collapse
> putting millions of of jobs creating a huge
> national depression and busting our availability
> to pay federal pensions and social security people
> worked for while at the same time paying
> unemployment to those millions more out of work
>
> We will be plunged into a deep national depression
> as China keeps building up their military crime
> will soar while the US people will only see gun
> bans and threats to our rights from Democrats who
> are primarily responsible for our US manufacturing
> jobs going to China due to the over reach of the
> EPA under Democrats administrations and numerous
> laws state and federal giving Unions powers that
> crippled manufactures with excessive demands that
> they could not afford while maintaining operations
> in the USA . In addition to cripple US
> manufacturing Democrats resisted efforts to
> curtail liability lawsuits with state and federal
> tort reform laws which have taken their toll upon
> American manufactures business and the medical
> profession with higher health care costs
>
> To put it short the real possibility of the US
> entering a deep very bad depression is as real as
> it can be, which can only harm further our US
> national defense of which any Democrats gun bans
> will accelerate the harm to defend this counties
> soil if China decides to engage the US in a
> conventional war
>
> United We Stood Strong But Now Divided by
> Democrats We Are Much Weaker

Well-said. But it's gonna have to hit people in the face before they actually believe it. Just wait. China invasion of Taiwan is imminent. Remember this thread when it happens. You have been warned, again.

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Re: Turn Out The Lights, The Party's Over
Posted by: May3Report_v1 ()
Date: May 03, 2023 08:27AM

Today, we'll get a report on the next fed rate increase

but in the meantime, some interesting news that WILL affect your job

People claim AI will make people more efficient. I have said that is partly true, but is generally a lie. At least IBM is telling the truth.

IBM Chief Executive Officer Arvind Krishna has revealed plans to pause hiring for about 7,800 positions that could be REPLACED by artificial intelligence systems over time, according to a Bloomberg news report published Monday.

Krishna said that hiring in back-office functions like human resources will be suspended or slowed, affecting roughly 26,000 non-customer-facing roles. That will include NOT replacing current roles vacated by attrition. "I could easily see 30 percent of that getting REPLACED by AI and automation over a five-year period," Bloomberg quoted Krisha as saying in an interview.

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Re: Turn Out The Lights, The Party's Over
Posted by: mksbsvswjsjm ()
Date: May 03, 2023 08:34AM

Goldman Sachs warned in a report Sunday that around the world, as many as 300 million jobs could be impacted by artificial intelligence automation, CNBC reported.

Some examples specifically given by ChatGPT include transportation, manufacturing and financial services. Other industries that could be at risk include healthcare in which "AI can assist with diagnosing and treating patients, reducing the need for some healthcare workers" and journalism where "AI can generate news articles and summaries, potentially impacting jobs."

Rayid Ghani, a professor of AI and an expert in ethics, fairness, equity, and AI regulation at Carnegie Mellon University's Heinz College, warned that the negative impact on the job market will still be significant.

"It does make processes more efficient, which means people are going to lose jobs and yes, it will create new jobs, but those jobs are not at the same scale as the jobs lost," he said.

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

Good luck out there. You're gonna really struggle in the future. The party really is just about over.

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Re: Turn Out The Lights, The Party's Over
Posted by: May3Report_v2 ()
Date: May 03, 2023 03:05PM

Another rate increase...

unanimous decision puts the key benchmark federal funds rate at a range of 5% to 5.25%, the highest since August 2007, from near zero a little more than one year ago. It marks the 10th consecutive rate increase aimed at combating high inflation and slowing the economy.

Some say the fed will pause rate nincreases now, but that's a false assumption.

"A decision on a pause was not made today," Chair Jerome Powell told reporters during a post-meeting press conference in Washington, though he noted the "meaningful" change in the official statement.

"We're no longer saying that we ‘anticipate,’" he said. "We'll be driven by incoming data, meeting to meeting. We'll approach that question at the June meeting."
---------------------

Even if the fed does pause the rate increases, the higher interest rates (and your interest paid on cars, mortgages, and credit cards) will last for years. The Biden inflation tax will fuqk you for years. Is it starting to feel good yet?

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Re: Turn Out The Lights, The Party's Over
Posted by: ksdbhdgdj ()
Date: May 03, 2023 03:12PM

Reported today:

Earnings calls from tech firms such as Meta, Alphabet, and Microsoft have been littered with references to AI, with the verdict on the technology from leaders becoming more apparent than ever: AI can and will make jobs extinct.

Jobs lost through the layoffs of recent months may never return either if AI proves successful here. In tech, over 350,000 people have lost jobs since last year.
........
This is just the beginning. You will be replaced.

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Re: Turn Out The Lights, The Party's Over
Posted by: Troofer ()
Date: May 03, 2023 04:33PM

unemployment rate will be over 10% (maybe 20%) within 5 years the direction our current administration is taking us. And yes, it is Biden's fault. Big tech is in his pocket.

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Re: Turn Out The Lights, The Party's Over
Posted by: May4Report ()
Date: May 04, 2023 11:43AM

kwejwefgfrg Wrote: July 14, 2021
-------------------------------------------------------
> Remember this post...
>
> "the fed cannot raise [rates] due to massive debt
> and risk of default (happened under Carter and
> shut down the economy)"
>
> Today, Powell is saying to stick it out in HOPES
> that inflation goes down. But, the real truth is
> that the fed can't raise rates to slow down
> inflation because the US would default due to
> excessive interest.
>
> Today's news is just a smoke screen. Most aren't
> paying attention (or don't know enough to look for
> it) to the interest on debt and the inability to
> raise interest rates.


Good call back in July of 2021.

Reported today:

The United States will default on it's debt June 8 and will impact 800,000 jobs. Joe Biden (and the left media) will ignore this when it happens.

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Re: Turn Out The Lights, The Party's Over
Posted by: Harry Smith ()
Date: May 06, 2023 06:58AM

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Re: Turn Out The Lights, The Party's Over
Posted by: May8Report ()
Date: May 08, 2023 01:23PM

Get ready for a whole lot of bad news this week regarding inflation that will trigger another fed rate increase.

Labor Department's inflation reading on Wednesday, which is expected to show the consumer price index (CPI) likely CLIMBED 0.4% in April after gaining 0.1% in March. Producer prices, weekly jobless claims and consumer sentiment data are all lined up through the week.

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

Joe Biden loves all this extra money coming in from the higher fed rate. It's the invisible tax on the poor and middle class. But I have a little bit of hope. People might be starting to see the truth. The latest ABC poll shows Biden's approval rating at 36%. This means 36% of the country is blind or stupid, or both.

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Re: Turn Out The Lights, The Party's Over
Posted by: May9Report ()
Date: May 09, 2023 08:56AM

Baaaad news report #1

Artificial intelligence could replace 80 percent of human jobs in the coming years -- but that's a good thing, says US-Brazilian researcher Ben Goertzel, a leading AI guru.

Mathematician, cognitive scientist and famed robot-creator Goertzel, 56, is founder and chief executive of SingularityNET, a research group he launched to create "Artificial General Intelligence," or AGI -- artificial intelligence with human cognitive abilities.

"You could probably obsolete maybe 80 percent of jobs that people do, without having an AGI, by my guess. Not with ChatGPT exactly as a product. But with systems of that nature, which are going to follow in the next few years."
---------------------------

This is coming from one of the top AI creators. Flood the engine with low-skilled people, and that problem is going to increase after Thursday when Title 42 expires...and then replace tons of jobs with AI and AI-related automation. What's the outcome? Social unrest at a level you cannot imagine in addition to massive unemployment. The solution will be government seizure of power to solve the problem the government created.

Joe Biden is just smiling and waiting for this to happen.

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Re: Turn Out The Lights, The Party's Over
Posted by: May9Report2 ()
Date: May 09, 2023 01:39PM

It just gets better...

Fast food starting with AI and, of course, they say it's not to replace people LOL

Kevin Vasconi, Wendy’s chief information officer, said test runs in recent months at the Columbus restaurant have been favorable.

“It’s at least as good as our best customer service representative, and it’s probably on average better,” Mr. Vasconi said, adding that part of the goal of the pilot rollout is to show Wendy’s franchisees that the technology works and can improve service speed and consistency.

Up to 80% of food orders at Wendy’s are made at the drive-through lane, compared with roughly two-thirds before the Covid-19 pandemic, the company said. The goal, Mr. Penegor said, is to get more customers through the drive-through in the shortest amount of time, picking up extra sales for every minute or so shaved off the ordering process.

In March, Wendy’s announced a restructuring plan to streamline costs, targeting systemwide sales growth in the mid-single digits through 2025. Under the plan, the company is aiming to hold general and administrative costs flat for the next two years.
------------------------
You wanted your $15/hour, and you got replaced

What about the people who make the food? Are you safe? Not so fast!! Fast food is replacing people with robots.

Roboburger and Flippy are already starting to roll out. Cincinnati-based Wings and Rings is the latest to sign up for Flippy, an AI-powered robotic arm that can handle all parts of the frying process. White Castle, Chipotle, Jack in the Box, Buffalo Wild Wings, Wing Zone and Dubai-based Americana Restaurants are all using the robot.

Self pay kiosks are already in use at grocery stores and fast food places.

The only people (well, actually one person) left at these fast food places will be the person who loads the food into the machines. I'm sure that will be eliminated by a robot eventually.

$15/hour is replaced by initial investment but that investment now doesn't require pay, benefits, sick days, late to work, and can work long shifts without complaining.

But, hey, you'll be retrained. Right? You have 2 years to become an AI coder or engineer who works on robots. But those will be eventually replaced by robots who can diagnose and fix problems.

You WILL be replaced.

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Re: Turn Out The Lights, The Party's Over
Posted by: May10Report_1 ()
Date: May 10, 2023 09:32AM

Rut roh...another bad inflation report. Get ready for another interest rate increase.

Inflation rose AGAIN in April despite an aggressive interest-rate hike campaign by the Federal Reserve, indicating that strong underlying price pressures are still bubbling beneath the surface of the economy – and continuing to burden millions of Americans.

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 0.4% in April from the previous month, much faster than the 0.1% increase recorded in March. Prices climbed 4.9% on an annual basis.
-----------------------------------------------

Your buddy Joe Biden is nowhere to be found for comment on inflation or the total disaster at the southern border. They are generally keeping him away from the podium because he doesn't know where he is and manages to mumble barely comprehensible lies. Where's Kamala the laughing hyena? She's hidden too because she's an absolute disaster?

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Re: Turn Out The Lights, The Party's Over
Posted by: ksdbhdvsdj ()
Date: May 10, 2023 09:39AM

May10Report_1 Wrote:
-------------------------------------------------------

> Where's Kamala the laughing hyena? She's
> hidden too because she's an absolute disaster?

Didn't you hear? Kamala was magically awarded 100 IQ points and put in charge of the AI threat that is in full swing.

Joe Biden makes another tragic decision, ssssshhhocker.

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Re: Turn Out The Lights, The Party's Over
Posted by: lkxncdvbdjs ()
Date: May 10, 2023 10:11AM

It's interesting to see the way the pro-Biden news outlets word their headlines, even though the news is bad.

"Consumer price growth falls to below 5% for the first time in two years"

But then in the body of the article (because they know you won't actually read the article), it says:

"On a monthly basis, the inflation rate rose 0.4%, which was higher than the 0.1% in March."

That's BAD news. The inflation rate actually increased.
---------------------------------------

Joe Biden needs to pay these news outlets a little more to bury the truth a little better.

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Re: Turn Out The Lights, The Party's Over
Posted by: May11Report_1 ()
Date: May 11, 2023 10:39AM

Reminder, don't just read headlines...

not horrible, but still not good news reported today:

The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 0.2% in April from the previous month. On an annual basis, prices are up 2.3%.

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Re: Turn Out The Lights, The Party's Over
Posted by: May11Report_2 ()
Date: May 11, 2023 05:40PM

Title 14 is about to expire in 6 1/2 hours. Not only will the flood of illegals be massive, but the Biden administration just approved release of people into the US.
Just reported:

The head of U.S. Border Patrol under Joe Biden has sent out a memo authorizing the release of illegal migrants into the U.S. without court dates if agents face overcrowding as the Biden administration scrambles to deal with a historic surge in migration at the border ahead of the end of Title 42.

The memo says that migrants can be allowed into the country on parole if Customs and Border Protection (CBP) faces overcrowding. The memo calls the practice "parole with conditions" as migrants are required to make an appointment with Immigration and Customs Enforcement (ICE) or request a Notice to Appear by mail.

Under a parole release, migrants are rapidly released into the country, do not get an alien registration number and do not receive a court date.
----------------------------

Slow Joe just approved illegals into the US with their promise that they will show up to court, but no court date is set.

What a fucking disaster.

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Re: Turn Out The Lights, The Party's Over
Posted by: jwvgwfgejw ()
Date: May 24, 2023 03:25PM

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.


Brilliant post. Joe Biden wasted 4 fucking months and didn't cooperate or negotiate. Now, we are left with (again) this mess.

And this just reported today...

"Just like your family has to live within a budget, you might say you want Congress to live within a budget."

But Wolfers is clear that's not quite how it would play out.

"Defaulting on the debt does not reduce our spending," he says. "It just means we stiff our creditors."

And stiffing creditors would be expensive. The U.S.' reputation for always paying its debts has helped the country borrow trillions of dollars at very low interest rates from investors and governments around the world.

So much money that the country can right now borrow up to $31.4 trillion, a debt ceiling that will need to be raised or suspended to avoid a default.

And if the U.S. defaults, the interest rate on the country's debt would go up because the U.S. would be seen as riskier: too politically dysfunctional to get its bills paid on time.

It's similar to the way somebody's credit card interest rate would go up if they started missing payments.

An actual default would also deliver a massive shock to financial markets, raising the prospect of a new global financial crisis.

Investment bank UBS estimates the S&P 500 could fall by at least 20%. Bond markets would tumble, and that would send borrowing costs higher across the economy including for already-high mortgage rates.

Wolfers says if the U.S. defaults and there's no more money to spend, the government suddenly wouldn't have cash to run basic operations, things like schools and roads.

Government workers could get their pay delayed if the government runs out of cash, while businesses that have contracts with the governments might also stop getting paid for a while.

And the list of people who may not get vital government benefits is long, including most prominently veterans who rely on these payments as a lifeline as well as retirees who rely on Social Security payments.

All those missed payments would have a direct impact on the economy.

Because of how interconnected the global economy is, trouble in a major economic power like the U.S. would inevitably have global (recession) fallout.

Ultimately, Duffie and other experts say the bleak consequences are real risks, borne out of something the U.S. has done through its history: paying its bills on time.

"It's the most critical part of U.S. national economic security that the government can fund itself,"

Well, well, well

Joe Biden denied inflation until it was too late, forcing everyone to pay the invisible inflation tax and increased interest rates. Now, he has delayed for 4 months any discussion about the debt ceiling and once again we are up against the wall just to discuss whether we can raise the limit on the government's credit card. You have to live within your budget. When the government doesn't live within theirs, our money is devalued. They fuck up and we pay the price.

Get ready. The house is about to burn down. Don't you worry, Joe Biden (and others in the fed screwing us over) will be fine. He's rich and can afford the devastation of a recession and global fallout. He'll eat jut fine and dine on the finest food. You? You'll be wondering if you'll have a job, have money to pay your rent or mortgage, and put food on the table.

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Re: Turn Out The Lights, The Party's Over
Posted by: kshndvdwehj ()
Date: May 24, 2023 04:11PM

If you search the web instead of listening to CNN/MSNBC, you'll find some pretty interesting stuff

May 2, of 1984

Senator Biden gave a speech that day justifying it. Most of his comments were to justify that you could actually freeze the defense budget and it also included a freeze on the COLAs for Social Security. Like I said, it passed by one vote margin and obviously died in the House of Representatives. But Senator Biden spent most of his speech fighting off giants of the military industrial complex at that time by the name of Senator Goldwater, Senator Towers and Senator Stevens of Alaska. So that is the background for what I am talking about today.

On this day 39 years ago, then-Senator Biden spoke on the Senate floor saying he was “outraged” that our national debt would soon near $2 trillion. He urged fellow senators to “do something…before the debt limit increase comes up.” The “something” he advocated for was a federal spending freeze.

Today, our national debt stands at $31.5 trillion. And in a few years, public debt as a share of our economy is expected to exceed record levels set in the wake of World War II. However, instead of urging immediate action this year, President Biden wants to kick the can down the road. I think today we would all consider that irresponsible and unacceptable.

Well, well, well...

Looks like Joe Biden really does now want to tank our country in an effort to allow the government to come in and seize more power (rights) from the people

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Re: Turn Out The Lights, The Party's Over
Posted by: May24Report_1 ()
Date: May 24, 2023 04:18PM

Here is what's actually going on:

"The President's budget that he put forward actually proposes $3 trillion worth of deficit reduction over 10 years," Yellen said at a Wall Street Journal event on Wednesday.

"In this negotiation, the President has already offered changes that would result in an additional trillion dollars of deficit reduction," she added.

Yellen's comments suggest the two sides are moving closer together on the top line figure, although significant disagreements remain about how the deficit reduction would occur.

The Republicans say their spending plans would cut the deficit by $4.8 trillion over a decade, but insist there should be no cuts to the defense or border security budgets.

The White House says any cuts to the deficit should apply more broadly to reduce the burden on individual departments, and wants to raise some taxes to fund the deficit reduction -- which Republicans have so far opposed.

_______________________________

So, the real issue is that Joe Biden wants to weaken the military (with at least 1 active war coming up in the next 6 months) and cut spending to our border security (allowing more illegals and potentially terrorists to come in).

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Re: Turn Out The Lights, The Party's Over
Posted by: June1Report_v1 ()
Date: June 01, 2023 11:19AM

Looks like things are going to get passed. Joe Biden lost his bid to gut the military. Defense spending is capped but at least not decreased. The Conservative defense hawks want more defense money, but this was a compromise. We'll see if it passes the Senate.

Jobs report is due. The consensus is that the numbers will still be strong. Today's employment numbers came out and employers "added" 278K jobs. Some say this is good news. It's not, if you want a halt to the fed interest rate increases.

Reminder: The fact is that the unemployment rate MUST go up (to around 4.5%) in order to bring down inflation.

Joe Biden can take all the "victory" laps he wants on the economy. The truth is that Biden is to blame for the inflation issues we have. He thinks you are an idiot and celebrating low unemployment. While you're celebrating, the fed increases the rates and takes more money from you. This disproportionately effects the poor, working class, and middle class. Stop celebrating the "transient" inflation tax caused by Biden.

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