LOL. We go in this position because of we printed money. Then by printing money it led to other inflation issues that both the FED and many experts were 100% wrong on by thinking inflation was only "transitory". Yellen looked extremely foolish for that take.
Labor market isn't the MAIN driver of inflation. https://www.usnews.com/news/economy/articles/2024-04-09/what-you-need-to-know-about-the-labor-market Jobs were plentiful, while wages rose but not at a pace to cause inflation. The unemployment rate, at 3.8%, was modestly lower than the 3.9% rate in February. “The reduced pace of wage gains will alleviate some concerns of reignited inflation driven in part by the strong labor market,” said Nick Bunker, director, North American research at Indeed. “And while it has slowed, wage growth remains faster than the pace of inflation, insulating workers from undue harm.
the unemployment rates measure what they measure. They are consistent. There are about a dozen different employment measures. It is tough to find one now that isn’t stellar.
Labor market is very solid. Didn't realize I said anything contrary. But small business owners aren't as confident as shown by the 11 year low in confidence.
According to your own prior link, that is simply not true. It states that the primary cause of inflation right now is the tight labor market. That is consistent with the link that I provided from the Boston Fed. But thank you for pointing out that wages gains are eclipsing overall inflation.
And inflation just won't go away. https://www.cnbc.com/2024/04/10/cpi...-3point5percent-from-a-year-ago-in-march.html The consumer price index accelerated at a faster than expected pace in March, pushing inflation higher and likely keeping the Federal Reserve on hold with interest rates.
Everyone patting themselves on the back saying the economy is awesome should read this: Nearly 50 million Americans are now 'subprime borrowers' forced to take higher interest loans and credit cards (if they can get them) - how to improve YOUR credit score | Daily Mail Online Almost 50 million Americans are now considered 'subprime borrowers' - after higher living costs led to missed debt payments which damaged credit ratings. Compared to just a year ago, an extra 1.2 million now have credit scores in the lowest-possible 300 to 600 range. At this level, the score is below what is needed to get get the best or 'prime' interest rates. Some banks might avoid giving credit cards or auto loans altogether - as people in this range are seen as much riskier to lend to.
OMG! America never had people with shitty credit scores before. This is all Biden's fault. How did he let this happen?
What part of 1.2 million ADDITIONAL people with credit scores under 600 don't you understand? You know what, let's go with your take on this. Who cares, right? We've always had people with shitty credit scores. Let's do that for everything then. Who cares that some people can't afford housing. America never had people that can't afford housing before. Brilliant take there.
1.2 million is a rounding error…. Like 0.2% of the population. For some context, Subprime credit card holders increased by 35% During Trumps 4 years so I guess Biden is doing an awesome job. since this is an issue so dear to you, You’re welcome for my vote for him.
United States U-6 Unemployment Rate U-6 is about the same as the lowest point during the Trump administration. Interesting it is trend up slightly. Earlier during the Biden admin it was the lowest it has ever been
The difference between you and I is I’m not playing sides. Trump was an awful president as is Biden. Only the far left believe he’s been a good president. You are the number 1 fanboy. But anyone thinking more people are in serious debt is good is just flat out a bad human.
Who said it was "good". People who make dumb strawmen arguments are flat out bad humans. Anyway, I was just giving you context. Now go back to pretending you care about poor people....
Sucks that Trump didn't really include these people in his deficit funded tax cuts, of which 80% went to the rich or to corporations. If he had, maybe they would not have had to borrow and hurt their credit scores. Aren't you really really angry about that, since you care for these "subprime" borrowers a whole big lot?
You did. You shit on the number increase and said “OMG” as a joke. Congrats on being happy for people struggling.
