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U.S. Economy and its Mess

I really get the feeling that Trump is getting his optimistic "best economy EVER!" news from Fox and from sycophantic aids in the White House who tell him what he wants to hear. The reality is that Trump is being kept in a Secret Service bubble and most of the "public" he deals with at his golf grift clubs are millionaires and billionaires.

Fact: grocery prices are up since Trump was inaugurated.

Newly released inflation figures show that President Donald Trump was wrong when he repeatedly claimed this month that grocery prices are “down” or “way down.”

They were up, again, last month. And they have increased since the start of his presidency.

Average grocery prices rose 0.3% from August to September, according to Consumer Price Index figures released Friday. That increase followed a 0.6% jump from July to August, which was the biggest month-to-month jump in three years.

Average grocery prices in September were about 2.7% higher than they were a year prior and about 1.4% higher than they were in January, the month Trump returned to office.
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He knows. But he is happy to lie. Because that is what they do.
 
rareboy said:
He knows. But he is happy to lie. Because that is what they do.
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With malignant narcissists, it's hard to tell whether they are lying or whether they have to create a fictional universe in which they are right and everyone else is wrong.

Watching KKKaroline barking the lies, it reminds me of Sean Spicer when he stood at the podium and read something that he had taken as dictation like a literal "secretary" and he obviously knew was a lie. Bigger crowd sizes than Obama? That just reeks of Ibsen and the Master Builder. We all know Obama's dick is bigger but Trump has to live in a universe where it isn't.

At this point, do you think that Trump even knows what is true and what is fiction?
 
KaraBulut said:
I really get the feeling that Trump is getting his optimistic "best economy EVER!" news from Fox and from sycophantic aids in the White House who tell him what he wants to hear. The reality is that Trump is being kept in a Secret Service bubble and most of the "public" he deals with at his golf grift clubs are millionaires and billionaires.

Fact: grocery prices are up since Trump was inaugurated.



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I inflation is now running at 3% and the market reaction to that news was to have a breakout day because of the “muted” inflation number. During the 4 yrs Biden was president I do not recall ever hearing inflation being muted even when it was at 2.5%. The Fed claimed to be all data driven when Biden was president but now they just follow orders. Why Jerome Powell is carrying water for Trump when he knows he will loose his chairmanship no matter what is beyond me, be a Man for crying out loud.
 
Norri said:
I inflation is now running at 3% and the market reaction to that news was to have a breakout day because of the “muted” inflation number. During the 4 yrs Biden was president I do not recall ever hearing inflation being muted even when it was at 2.5%. The Fed claimed to be all data driven when Biden was president but now they just follow orders. Why Jerome Powell is carrying water for Trump when he knows he will loose his chairmanship no matter what is beyond me, be a Man for crying out loud.
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Because of the government shutdown, we're not getting numbers from the DoL or BLS- for September and likely for October.

I wouldn't say it's because the Fed is following orders. They are looking at the data, however Trump's minions have been trying to take over the Fed board which is where the problem lies.

We're now at a point where we don't know whether to trust the BLS or the Fed. The US has traditionally been where investors put their money based upon the concept of "trust". Without trust, I'm not sure America will be viewed as a reliable place to put capital, which is why gold is in a bubble at the moment.

The difference between the Biden inflation and the Trump inflation is that the inflation during the Biden years was a global phenomenon. Here's what 2021 looked like in other countries:
  • Venezuela - 686%
  • Sudan - 331%
  • Lebanon - 150%
  • Zimbabwe - 143%
  • Yemen - 64%
  • Argentina - 47%
  • Iran - 41%
  • Ethiopia - 28%
  • Angola - 26%
  • Brazil - 8.28%
  • United States - 7%

2022 rates:
  • Lebanon - 171.21%
  • Moldova - 28.74%
  • Angola - 21.40%
  • Czech Republic - 15.10%
  • Chile - 11.60%
  • Nicaragua - 10.47%
  • Colombia - 10.20%
  • Belgium - 9.60%
  • Brazil - 9.30%
  • Algeria - 9.30%
  • United Kingdom - 9.10%
  • United States - 8.00%
 
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KaraBulut said:
Because of the government shutdown, we're not getting numbers from the DoL or BLS- for September and likely for October.

I wouldn't say it's because the Fed is following orders. They are looking at the data, however Trump's minions have been trying to take over the Fed board which is where the problem lies.
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The data indicates inflation is rising consistently over the past few months and the Fed is calling it transitory because of the tariffs. I hold no degree in economics but I have run a couple of businesses and a 15% tariff probably is transitory but once you pass the 25% level I don’t think that is transitory because there is too much room to raise prices in an incremental way over time and currently tariffs on steel and aluminum are way past that 15% number and those incremental price increases are coming our way over the next two yrs which doesn’t sound transitory to me.

With so many tariffs effecting so many parts of the economy and hurting so many businesses the Fed has done Trump a huge favor by calling them transitory. And for most of us we will experience this inflation every time we need a car repair or a house repair or we pay our house and car insurance.

Transitory my ass!
 
Norri said:
...Transitory my ass!
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Economics isn't my area of expertise but I can say from a few decades of experience that once prices on goods increase, they only decrease when there's competition between suppliers.

Gasoline fluctuates because of international competition. Eggs fluctuate somewhat because the public tends to be more sensitive to prices they see daily or weekly.

But refrigerators, washing machines, building supplies, cars... we seem to have tolerated a lot of price inflation for products that last half as long as they used to. That's likely where prices won't come down much even after the tariffs are removed.

The Fed seems to be planning on an annual inflation rate of 1-2%. They want to avoid deflation which we haven't seen in 50 years. But when a demented old fool is putting on double digit tariffs that change daily, that is going to skew prices for years.
 
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So as a result of tariffs, US beef prices are sky high and the demand isn't for choice cuts...it is for hamburger...in quantities that US producers can't supply.

But because Trump is trying to ruin Canada's economy, and loves the right wing Millei regime, the hamburger will then be supplied by Venezuala.

Makes sense...Right????


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This could go in so many threads....one of the big ranching corporations is pissed.

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And so is Tomi...

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Remember those soy "meat extenders"? I thought they'd be back in stores by now, but I guess folks remember how awful they were
 
Thad1527 said:
Remember those soy "meat extenders"? I thought they'd be back in stores by now, but I guess folks remember how awful they were
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I would say that a lot of people would start going meatless...but definitely there could be a shift to more pasta with small portions of meat.
 
Meanwhile...giving Musk et al another trillion dollars won't do your local economy any good at all.

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So true this....

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