You might be right. Oz and Hershel have made this close. They are terrible candidates. Republicans have a built in advantage they squandered with those picks.
Show me on this chart what you are worried about. Basically flat pre-covid Q4 2019. Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over Show me on this chart what you are worried about. Basically flat unemployment pre-covid Show me on this chart what you are worried about. Gobbledygook. You made no point. Recent inflation is minor compared to the trillions... yes trillions... our tax policy has driven more wealth to the 1% at the expense of everyone else. You are complaining about the paint color of the door while the house is on fire. Top 1% of U.S. Earners Now Hold More Wealth Than All of the Middle Class
It's pretty funny to see this guy appear in the last few days, so full of bluster, and so full of s#!t. Carrying forth like an expert and making proclamations based on nothing but his own ignorance and wishful thinking.
To be fair 538 does show republicans getting as many as 254 seats and that would be a big shift but the average right now has them at 233 seats. Hardly a tsunami especially for a midterm with a sitting democrat. I’m not even going to engage republicans on the economy. The past few years on this board all they do is cherry pick the good and the bad claiming all good things are conservative policy and all bad things are liberal and it’s not even interesting to debate anymore because they openly ignore facts.
You say that the polls don't mean crapola yet you previously argued that based on a few polls the 2022 midterms would result in a "red tsunami". While the economics will still favor the Republicans in November it will be less of a factor than it was even a couple of months ago. The price of gas at the pump has been declining for the last six weeks and will continue to do so and other prices will moderate over the next couple of months. Although one can argue that we are in a recession based on the classic definition of two consecutive quarters of negative economic growth during the same period employment has actually been increasing with the unemployment rate at a near record low. While there may very well be slight increase in the rate the economy will not be anywhere near the situation in past recessions when job losses far exceeded jobs gains.
I’m not a link but I’m thinking about going back to work part time at age 69. Some older friends of mine have done it already. Part time not full time.
I think he asking how the economy would have wiped out savings of retirees. If your savings draw down is say, $30k/yr, Then 9% inflation would result in $2700 more a year… At the same time, the stock market is still up 9% under Biden and I see “high interest” saving accounts at 1.5% when the used to be 0.35%… So if you have million in the stock market, you are still up $86,300 after extra inflation draw down… if you had million in cash, you could be better off because interest earned is now $15,000/yr. (although that calculation is more complex because interest rates have been rising slowly over time).
We are technically in a recession if you use the classic definition of 2 straight negative quarters. But this sure doesn't feel like 2008, and for good reason. The negative growth this past quarter was less than 1%, as compared to 4.3% back in 2008. Huge difference. And while unemployment is generally a lagging indicator, it didn't take long for it to reach 10% back in 2008. Today? At near historic lows, and last month, there were nearly 300,000 jobs created. There are also about twice as many non-job farm openings as those on unemployment. And yes, we have less people in the work force than pre-pandemic, but there has also been a continual, and expected number of retirees among the baby boomer generation. And even if they have to go back to work, it's not like there isn't work for them to do. But the numbers show there isn't a mass movement back to the workforce, as shown by labor participation numbers. Also remember, the pandemic effected labor participation, as there were about 200,000 deaths of people 18 - 64 over the last 2 1/2 years, which is significantly higher than usual. And these years represent prime working years. If and when August inflation numbers come in significantly lower than 9%, which they will because of lowering gas prices, lowering shipping costs, and other costs dropping, consumer confidence will likely start to climb back up. Consumer spending hasn't dropped either. And if jobs/unemployment numbers continue to be good, this might be the shortest and softest recession in US history. Time will tell.
Redefining recession. Redefining vaccination. Redefining pandemic. Unable to define male and female. Anyone see a pattern here from the left?
