WrestlingRasta Posted February 1 Posted February 1 When the Chairman of the Federal Reserve stated yesterday "Let's be honest, this is a good economy" Fed's Powell sees lower rates on the horizon as inflation ebbs, economy bounces ahead (msn.com)
Wrestleknownothing Posted February 1 Posted February 1 1 hour ago, headshuck said: As compared to? 1980? Inflation, fed funds rate, unemployment are all in line with 2000 - 2007. When compared to 1980 inflation is one-third what it was, fed funds rate is 30% of what it was, unemployment is half of what it was. 1 Drowning in data, but thirsting for knowledge
Offthemat Posted February 1 Posted February 1 How about the size of the workforce employed by the government? 1 1
Husker_Du Posted February 1 Posted February 1 2 hours ago, WrestlingRasta said: When the Chairman of the Federal Reserve stated yesterday "Let's be honest, this is a good economy" Fed's Powell sees lower rates on the horizon as inflation ebbs, economy bounces ahead (msn.com) i'll tell you how to spin it - go to the grocery store. 3 1 TBD
ThreePointTakedown Posted February 1 Posted February 1 22 minutes ago, jross said: Never better. What point are you making?
WrestlingRasta Posted February 1 Author Posted February 1 40 minutes ago, Husker_Du said: i'll tell you how to spin it - go to the grocery store. I do. Almost daily.
WrestlingRasta Posted February 1 Author Posted February 1 50 minutes ago, Offthemat said: How about the size of the workforce employed by the government? Would prefer to talk about the size of the workforce as a whole instead of cherry picking things, but I guess that does fall within my original question after all....
jross Posted February 1 Posted February 1 51 minutes ago, ThreePointTakedown said: What point are you making? Shrinkflation. Less product for the same or higher prices. 1 1
WrestlingRasta Posted February 1 Author Posted February 1 10 minutes ago, jross said: Shrinkflation. Less product for the same or higher prices. Is that a reflection of the strength of the economy, or of corporate strategy and consumer ignorance?
ionel Posted February 1 Posted February 1 16 minutes ago, WrestlingRasta said: Is that a reflection of the strength of the economy, or of corporate strategy and consumer ignorance? Its inflation. 1 1 2BPE 11/17/24 SMC
ThreePointTakedown Posted February 1 Posted February 1 29 minutes ago, jross said: Shrinkflation. Less product for the same or higher prices. You didn't mention the price of the thing. That would've helped. But that's how inflation works over time. To keep something the same price as purchase power decreases. You need to; alter production, change or source alternative materials, or just offer it at a smaller size. I'm sure that's not an exhaustive list but those come to mind. 1
mspart Posted February 1 Posted February 1 22 minutes ago, WrestlingRasta said: Is that a reflection of the strength of the economy, or of corporate strategy and consumer ignorance? Inflation causes things to cost more to make. So to keep the prices the same, you get to purchase less of a product for the same money. Or you get to pay more for the same amount of product. Inflation 101. mspart 2
WrestlingRasta Posted February 1 Author Posted February 1 Just now, mspart said: Inflation causes things to cost more to make. So to keep the prices the same, you get to purchase less of a product for the same money. Or you get to pay more for the same amount of product. Inflation 101. mspart I understand that. And with that in mind, according to the picture (if inflation is in fact the sole cause for the picture), then it must hold true that inflation has been on a steady, constant rise for the last 40 years? And that picture is not actually a reflection of the strength of the current economy, but just par for the course…
jross Posted February 1 Posted February 1 Excellent question. Higher wages could indicate a strong economy... but increased unpaid credit card debt indicates a lousy economy. At the end of 2021, 39% of credit card holders carried debt from month to month. That jumped to 47% in 2023 per Bankrate. According to TransUnion, the number of Americans missing payments increased, and the average credit card balance is the highest in a decade at $6,000. The price of used pinball machines is dropping because there is less demand for the high-cost supply. The product is not moving... I heard the IKEA CEO talk about reducing prices to stimulate consumption and help with profit. 2 1
Paul158 Posted February 1 Posted February 1 2 hours ago, Offthemat said: How about the size of the workforce employed by the government? Exactly. I heard the federal government is close to 25 percent of the new jobs. That is just ridiculous. But I guess that is on way to lower the unemployment rate. 1 1
Paul158 Posted February 1 Posted February 1 57 minutes ago, jross said: Shrinkflation. Less product for the same or higher prices. Yes, if you look at products you by in the store you would find you are getting less product for a higher. price. 1
headshuck Posted February 1 Posted February 1 Best benefits in the world.https://www.jobs.irs.gov/resources/benefits-programs/federal-employees-retirement-system-fers 1 1
Paul158 Posted February 1 Posted February 1 (edited) Found it . 2023 there were 2.552 million government jobs added which was 25 percent of all jobs.. It states it is what helped our economy from falling apart last year and kept unemployment low. Edited February 1 by Paul158 missed a word 1 1
JimmyBT Posted February 1 Posted February 1 1 hour ago, WrestlingRasta said: Is that a reflection of the strength of the economy, or of corporate strategy and consumer ignorance? It’s both. One is caused by the other 1
Wrestleknownothing Posted February 2 Posted February 2 6 hours ago, jross said: Shrinkflation. Less product for the same or higher prices. But it isn't meaningful in the absolute. Median incomes have also risen since the 1980's. US Median income in 2020 is 3.2x what it was in 1980. 1 Drowning in data, but thirsting for knowledge
mspart Posted February 2 Posted February 2 Also a direct result of more money in the supply. That devalues the currency and people must make more to keep up. They can make more because there is more of it out there. But they are not earning more. In 1930's bread cost 10 cents a loaf. If you could barely afford bread, that would be roughly 10 cents a day so $26/year in bread costs. Compare to now. Bread costs $2/loaf. So that is $2 a day which is $522/year. Is the person making $522/year in 2024 richer than the guy making $26/year in 1930's? No, the purchasing power is the same. Inflation robs the currency of the value it had. That is a direct result of government monetary policy. Period. From https://fred.stlouisfed.org/series/APU0000702111 Bread prices from 1980 to now. mspart
Offthemat Posted February 2 Posted February 2 2 hours ago, Wrestleknownothing said: But it isn't meaningful in the absolute. Median incomes have also risen since the 1980's. US Median income in 2020 is 3.2x what it was in 1980. Stop and think. We’ve gone from single income families of the 1960s to two+ income families in order to maintain the status quo. In the name of progress. 1
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