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Right, te day before the lock down it was at 3.5, today it is at 3.8
If you do the math that is a ~10% increase
So check, that one is confirmed true, next.
@freemo @MattHodges OMG!! Time to head for the bunker!
Huh no one said anything about heading to the bunker or the end of the world.. its just a small (and possibly soon to be large) recession.. no need to be hyperbolic about ir.
@freemo @MattHodges Sorry, but we've been hearing these predictions from so-called experts for nearly three years now... even longer if you count what Trump said would happen to the economy if Biden was elected. Sooner or later the naysayers will be right, of course, but it's mostly just wishful thinking by disappointed conservatives who hate to see Biden succeeding.
What prediction.. we are talking about the recession we are **in*** we are talking the present, not the future.. Obviously is possible it will get wose inteh future, but that depends on oo many factors to blame anyone or anything... But the fact is, we are in a recession now.. so if youve been hearing it for a while, i guess now you know they were right and its confirmed (per the numbers I stated)... lets just hope it gets better and not worse.
@freemo @MattHodges Inflation has been a global problem resulting from the pandemic, as you know. I don't blame that on Biden, just as I didn't blame Trump for 13% unemployment during 2020. There are plenty of reasons to despise Trump, but that isn't one of them. My preference for Biden at the present time is driven mostly by the current crop of neo-fascist alternatives.
Yea, biden has always only ever stood a chance when he played the game where everyone is voting for "Trump" vs "Not Trump".. and considering how obnoxious trump is thats a pretty smart way to manipulate people to get power of them, so its not surprising he plays that card either,
The biggest thing biden has going against him is if he goes up against a moderate instead of trump... someone where he would have to actually be judged on his own merrit... if that happens he wont srand a chance.
Good luck finding a moderate on either side of the isle these days
@freemo @MattHodges I don't disagree with you there, but your interpretation of the numbers reminds me of when I was learning to fly and would constantly correct for every little bit of turbulence. Eventually I learned to ignore most "bumps". There are always ups and downs, and most correct themselves without input. But then again, I'm an optimist and who am I to fault you for thinking otherwise?
Nothing wrong with that view. Look we have recessions all the time, the fact that we are in, with some of the worst numbers weve seen in 50 years is ubfortunate. That said it, like many recessions, is not going to be the end of the world. Its just important we recognize the rrcession for what it is
@freemo @MattHodges Still sticking to your recession story? You'll be right sooner or later, of course, especially if the Fed keeps raising interest rates, but the crystal ball might need some Windex. https://www.barrons.com/articles/us-gdp-growth-economy-release-report-today-e45b7240
Still trying to argue a narrative rather than objectively collect data and review I see....
We listed multiple indicators last we spoke for one. and for another you are looking at GDP suprisingly narrowly (cherry picking fallacy)
@freemo @MattHodges Looks to me that you're the one who's cherry picking. GDP and unemployment rate (which held steady at 3.8% in September) are pretty much at the top of the list when it comes to leading economic indicators. Monthly inflation dropped back down a little in September, and falling gas prices tell me that this will likely continue in October too. That the economy is holding up so well is pretty amazing considering Fed tightening.
I cant see my original post anymore, but as I recall I listed three data points which are the GDP, inflation, and unemployment. I pointed out the GDP was not particularly horrible, while the other two values had a very suggestive rate.
If i was cherry picking I would have left off the GDP
@freemo @MattHodges What a shame... and you delivered it with such confidence too!
@Doppelganger75
Right.. having the highest inflation rate ever seen in nearly 50 years, not to mention one of the most significant drops in buying power over the last 50 years as well... He didnt just do bad, he did worse by most metrics than anything weve seen in 50 years, at least in terms of strength of the US dollar.
And for the record you are the only one here who cares enought o attach it to a president at all.. I mean yea, president biden did a horrible job overall, but so did Trump.. I have no love or preference for either... nah im just an old guy who cares about numbers and data and think Bidens look about the same as Trumps, he was far from impressive and the economy is limping along with him in charge. 6x increase in invlation rather and a 20% drop in buying power... we havent seen numbers that bad in a long time.
@MattHodges