I don't think so.

https://www.msn.com/en-us/money/mar...e7e77f16144543a4ef8869932a6bbb&ei=19

That author is an idiot!!!

“For example, we have totally altered the meaning of “unemployed.” Get this: You are not “officially” unemployed if you have stopped looking for work despite not finding any work. Meaning, if you are totally discouraged by this so-called “great economy,” then experts stop counting you. They ignore your existence when calculating the unemployment rate.”

This a bold face lie told over and over again to sway the uneducated. The US has been calculating 6 different UE rates for over 30 years, and those who are totally discouraged ARE included, you just have to understand unemployment rates, and what they mean.

https://www.macrotrends.net/1377/u6-unemployment-rate

For rich hassoles (and I count Cabinet-level apparatchiks as rich), every economy is good. Hell, I’m barely middle class and aside from the price of rum and ammo, everything is pretty rosy for us. Someone with kids, someone that has to keep medical insurance, buy gas to get to work, etc etc, is doubtless struggling and juggling money to stay warm and fed.

No able-bodied person should receive benefits when unemployed unless they’re actively looking for work. Giving up shouldn’t be an option. People used to pull up stakes and move to find work; even illegal aliens do that now. Bring back the CCC. Lots of schitt needs doing; trade those bennies for some shovel work.

Hope that’s not rashist…..

Jetboi again

Sorry. No more big government programs please. Let's eliminate and reduce taxes instead.

You paid by the post?

Couldn't agree more, And it may be another topic, but making prisons self sustaining would help in more ways than one.

Nope. But In fully aware until I just made that post, you had no idea the US actually has 6 unemployment rates, with U3 being the standard. The author obviously doesn’t know that. Hell, most Americans done even know what a marginal or effective tax rate is.

Good economy my azz! 79, worked hard since Jr high, saved, invested, own a house in town, a small farm,three older vehicles all free and clear. Fixed income. Semi invalid wife, though improving.
A trip to the store that cost $100 two years ago is now $200. A 13 pack of soda that was $3.99 or $.4.99 is now $8.99.
Burger now $8 or more. Packages are the same size but hold less.
Gas way higher than two-three years ago.
Property taxes are more than any mortgage I ever had.
We get by but sure aren't living as well as four years ago.
Without good insurance, we'd be bankrupt. Not Obozocare, either.
How the neck the demented one can claim anything good has come from his reign is beyond me.
What emergency will Ziden and my bloated governor, the billionaire Prickster, pull off next?

Speaking of idiots....

You ignore the entire gist of the article to focus on this one thing?

Sorry Raeford...referring to Jetkockey

From my experience working for 20 years in unemployment in Washington state, if you stopped looking for work, you were not counted as unemployed in the unemployment rate. The rate only takes into consideration those who are actively seeking work. This is how the bureaucrats can get low unemployment rates. Kind of like Brandon counting people coming back to the jobs that he threw them out of during the shutdown as "newly created jobs."

You are no longer included in U3, you are still included in U6 if you want to work, but quit looking. U6 is always higher for that type of reason. UE has been calculated like that for 30 years.

JJ is a total tool[of the Leftist's most likely].

They feel all superior spouting this report or that, when those reports as a rule do not tell the full story[see Deltakid's report above].
Then, on top of everything else comes the revisions that are hidden way down 1-2 months later.

Leftists like JJ have ZERO real world experience along with ZERO clue.
They're all like "well life is great in my world so it must be the same across the board"
Screw the working class family that's paying 2-3 times for groceries over the prices from as recently as 3-4 years back, add in double for gas[current] and 30-40% higher rent.
But hey the statistics say..........

Total F'kn TOOL is all that he is.

How about the rest of the article?

He has a few valid points, but notice he doesn’t mention a single policy, he just says “Biden’s policies.” Notice how he doesn’t say which Biden policies have affected inflation and why that occurred? The reason is he doesn’t know, he’s just regurgitating what he’s heard someone else say. Inflation didn’t occur because of a Biden, it occurred because of COVID. If Trump would have been President, we would have seen the exact same thing. How do I know, because no matter who the President/Prime Minister/etc has been, every Western country, and most countries world wide, have experienced skyrocketing inflation. The US has actually fared better than most countries. The reason why the Fed raised rates, which affected mortgages, CC, and all sorts of other things, is because Americans were still spending money, because they had it. It’s simply supply and demand. When we came out of Covid, demand skyrocketed and supply didn’t. Higher demand with low supply equals higher prices. Now that factories are back online, China is producing, and supply has returns, inflation is quickly returning to normal levels. Same thing with oil production. The US is currently producing more oil than any time in history, and look what’s happening at the pump, gas prices are coming down.

He’s also totally wrong about the employee participation rate (in the 1950’s it was in the 50’s).

Now, he is correct about the debt, the boarders, and billionaires and lobbyists, but it’s a lot more complex than just throwing out the words, and those are long term issues, not short term issues which he is ranting about.

Borders Borders Borders
Borders Borders Borders
Borders Borders Borders

Jetboi is a dumfuk

Again, regurgitating what you heard, instead of doing the research yourself, truly understanding economics, and coming up with a conclusion of your own. Here’s a great article to read if you want to educate yourself.

https://hbr.org/2022/12/what-causes-inflation

Assumptions made by you as to what I may or may not know regarding the U.S. economy are.....simply priceless.

I'm in the real world, working & breathing it every day, to include but not limited to:

Hiring, firing, managing employees, paying bills, making purchases, capitol investment decisions, handling the bookkeeping/accounting, paying the myriad taxes, signing payroll checks.

You?

"Inflation" calculated as a % from some past number may (or may not- see below) be dropping. The prices (doubled and trippled from several years ago) caused by past inflation haven't been reduced , or not by much. So now they are counting inflation "increases" based off the newer high prices, not what was 3 to 5 years back. As well as just throwing out several key segments in their calculations to make the pre-determined mark.

That's mathematical witchery. (3 kinds of lies....)

Wages have not increased to match inflation, and those on fixed income haven't seen any increase in that (well a bit in SS, which was well under inflation rate ). Their income purchasing power is greatly reduced.

I know, I are one. Not hurting, but the cushion of elective spending isn't what it used to be, and continues to shrink year by year.

The economy looks good because people are still spending money. On credit.

The biggest source is helocs. Most homeowners have experienced massive appreciation in home values, and now they are borrowing against that equity at 14%.


Good times.

"Come on man Las"
The #'s that this jetjockey spout cannot be disputed!

Our 'rose colored glasses' just aren't rosie enough it seems.

Where’s Jetboi

Sounds like you need to hire somebody. Funny thing is, my wife does all those same things, and works way harder than me. She also makes 1/4 what I do. Work smarter, not harder.

Unless you have deflation, which is pretty rare- you are correct the prices will never return - the current inflation rate is a snapshot. The only truly lengthy period of deflation was 1930-1933 and a much milder "deflation" happened in 2007-2008 but it was a blip compared to the Great Depression.

Unless someone is at least in the top 95% of income earners (maybe even top 97% to 98%) chances are their purchasing power has been pinched on just about everything but especially in big ticket items like homes / cars / etc.

You've no clue, seriously, no clue.

Yeah I've had several friends do just that and I'm face palming thinking "what are you doing". I refinanced mine at the bottom, 1.99% and could pay it off now but that would be leaving a lot of moolah on the table and I invested it in private equity / debt instead and it's returning 20% a year.

No the “average” American may not understand that, however they do understand price at the pump, prices in grocery stores, prices in heat and electric bills, price of clothing, price of interest against cars and mortgages, depleting valu price in 401k’s plus a whole lot more you vain Einstein.

Osky

I believe that he's the type Reagan was thinking of when he said something along the lines of "....it's just that so much that they know that isn't so"

And we are closing in on the Feds 2.0% inflation rate. Yes, things are more expensive, but that is all Covid related. Covid created a mess. Gas prices are coming back down, interest rates are coming back down, and as soon as the feds start relaxing interest rates, our economy will be 100% recovered. instead of late stages of recovery like we are seeing now. In all these threads, nobody is comparing about lack of jobs, the market going south, home prices plummeting, etc. The only thing people are complaining about is prices, which are now leveling back out. I expect with full unemployment, wages should jump this summer as well.

I’m at 2.9% and could do the exact thing. If one were to listen to Dave Ramsey, he’d say pay it off, but Ramsey is an idiot. Some people don’t understand it doesn’t make economic sense to pay off a 2.9% mortgage with money that makes 8% in the market. Plus, that 2.9% gets deducted on the first $750k.

K

This statement is contradictory, extremely[as far as wages/unemployment vs. inflation]

Covid was the kickstarter, J. Robinette's policies are the fuel.

JetJockey is right. That article was pretty economically illiterate or he's lying.

I liked it better when this pedo supporter wasnt polluting these pages with her useless lies

Every time I buy fuel or groceries I know the economy is totally screwed up. Thanks Joey.

I'm not sure I'd say he's an idiot, but his advice is certainly dated (stated mildly). A couple of decades ago it was generally passable advice for people who are not poor but modest income and have trouble living within their means. However, in the days of cards that pay 2% to 5% cash back, expensive housing, and with even "beater cars" being far more expensive than he seems to think are obtainable - he really out of touch. I would imagine just about any financial advisor would suggest keeping a mortgage under 5% and investing the cash elsewhere.

Save cattle, farm prices are lower.

And look at that. 353,000 jobs in Jan. Dec was revised up by over 100,000 jobs, and Nov revised up as well. For the record, I believe Trump averaged 178,000 jobs per month prior to Covid, which was down from Obama’s 215,000 average his last two years.

K

Hey everybody, look!!!

Under my hero J.Robin inflation is down to 3.3%!!

Just don't look under the hood where that 3.3% is based/compounded off of a 15% avg[probably too low] inflationary pace over the past 3 years.

Don't do the math, it will ruin your day!

Jetboi when is the fed dropping rates?

2023 Q3 Household Debt - a blindly all time high of $17.29 Trillion

On February 6, the New York Fed will release Q4 2023 numbers. Here's a hint, it ain't going down....

You can cherrypick little bright spots all you want, but at the end of the day, it's about the economic pain households are experiencing. THAT is the only economic indicator that matters. The rest of the data is jerkoff fodder for sipin clowns and failed Administrations hoping to remain in office.

hopefully not for awhile.....that era of super low rates helped cause the conditions now. anybody with a brain could see what was coming. interest rates of 5-6% for a mortgage would be a good settling point.

but everybody thinks 5% is to high because it used to be 2.5%....this is just another cycle like its been doing forever....bob

Yeah this is not a good economy for those with zero impulse control and financial discipline.

When you think about how much money was taken from you at the fuel pump, grocery store, and about every other purchase you make it should make you really mad.

Agreed.

The high employment figures can be traced back directly to Trump’s confrontation with China, which resulted in massive “re-shoring”, I.e. making things in places other than China, including the US.

Employment is a good thing, but the only number that is really relevant is the worker productivity level. If employees make more s#it per hour, the economy moves forward. After being stagnant or going backward during the Covidiocy, it’s now improving pretty dramatically (3.2% last quarter). That drives both profits and wages up. Wages are finally rising faster than inflation. Profits are also improving.

Ironically, higher wages can be a good thing for producers, as it forces innovation through mechanization / automation. If you can hire Jose and his six children for 7.50 an hour to pluck chickens, you have much less motivation to automate that job than when you have to pay $18. Additional automation results in higher worker productivity, which boosts the whole cycle again.

As long as interest rates don’t go high enough that producers can’t afford the automation, that process will continue.

The working class who aren't employed by the government are the ones feeling the pinch. The deadbeats, freeloaders and wealthy are living better than ever. Inflation is supposedly only up 8%, everything I buy seems to be up 30+ percent compared to before the plandemic hoax. FJB and anyone who voted for him.

Yes

no......even those who work for .gov is paying like everybody else. they buy cars , houses, food etc....bob

.gov raised the rates

Cockjockey says the economy is better now than when President Trump was running the show.

I don't think so...even if they were solely responsible it affects their employees too....bob

Isn’t the fed .gov🤷‍♂️

And wages are outpacing inflation. So, you now have more buying power than you did a year ago. Great news.