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Started By
Message
2
Posted on 2/14/23 at 8:44 am to Azkiger
He made a ridiculous assertion and now pretends he didn’t but I get it. It’s not a good argument
Posted on 2/14/23 at 8:45 am to saint tiger225
We started on this path well before the stimulus
Posted on 2/14/23 at 8:45 am to saint tiger225
quote:
The stimulus is what started us on this path. You keep choosing 2018 for a strange reason.
You brought up a strong job market, not me.
Had you mentioned stimulus spending you wouldn't be getting the pushback you are currently getting.
Posted on 2/14/23 at 8:46 am to Rip Torn
No, I said a strong labor market is PART of the reason inflation is high.
When people are working, they have more money to spend and invest. When the demand is there, do you think suppliers will drop prices?
Again, it's one of many factors. No where have I ever said it's the only reason.
When people are working, they have more money to spend and invest. When the demand is there, do you think suppliers will drop prices?
Again, it's one of many factors. No where have I ever said it's the only reason.
Posted on 2/14/23 at 8:48 am to Azkiger
Please, tell me the goals of the fed and how they plan to achieve those goals and what do they look at to see if their actions are getting them closer to their goals?
Posted on 2/14/23 at 8:52 am to saint tiger225
quote:
Please, tell me the goals of the fed and how they plan to achieve those goals and what do they look at to see if their actions are getting them closer to their goals?
Prove how a hot job market increases inflation first, then we'll talk.
Posted on 2/14/23 at 8:54 am to RLDSC FAN
A little disappointed in this thread that NO ONE mentioned the revisions to the December report!!!
Posted on 2/14/23 at 8:55 am to Azkiger
It's one of many factors.
I don't need to prove it. It's well known. That's why the fed looks at unemployment rates in their fight against inflation.
I don't need to prove it. It's well known. That's why the fed looks at unemployment rates in their fight against inflation.
This post was edited on 2/14/23 at 8:55 am
Posted on 2/14/23 at 8:57 am to Rip Torn
quote:
We started on this path well before the stimulus
Correct. The dude just badly wants to blame Trump for where we are and do what he can to excuse "the adults" currently in charge.
Printing money is never excusable but let's not act like this was a long time coming. Also, let's not act like the administration could have done more to control yet instead they have accelerated it.
Posted on 2/14/23 at 8:57 am to stout
I didn't even bring up trump, you did.
Nice mental gymnastics.
Nice mental gymnastics.
Posted on 2/14/23 at 8:58 am to saint tiger225
We don’t have a strong labor market and that is the point you can’t comprehend. A strong labor market would mean wages are outpacing prices. They aren’t it’s just a term being thrown out by the administration to make it seem like the economy is just doing “too good”. The reality is most individuals spending power is far less than it was prior to the current inflationary period and most of the jobs “created” are jobs left unfilled from the pandemic or low wage service jobs. A gas station or fast food restaurant unable to fill positions isn’t an indicator of a strong labor market. A manufacturer having difficulty finding enough workers making 75k a year to keep up with demand would be. There is a huge difference between that and low wage workers finding it difficult to make enough money to justify driving to work and collecting unemployment
Posted on 2/14/23 at 9:00 am to saint tiger225
quote:
Please, tell me the goals of the fed
The mandates. The fed has a dual mandate.
Posted on 2/14/23 at 9:02 am to Rip Torn
quote:
Biden got his little victory lap for his SOTU, but the people still suffer.
Said it before, the only place inflation has fallen is in the white house.
Posted on 2/14/23 at 9:03 am to saint tiger225
quote:
It's one of many factors.
I don't need to prove it. It's well known. That's why the fed looks at unemployment rates in their fight against inflation.
Do you believe the job reports?
If you would have read more than the headline, you would see the latest job report is more manipulation by the Biden admin
quote:
“Seasonal adjustment factors appear to have flattered the headline as smaller-than-usual post-holiday layoffs bolstered the payrolls numbers,” Wells Fargo economists Sarah House and Michael Pugliese said in a note.
“We suspect members of the FOMC will take January’s blowout employment report with somewhat of a grain of salt,” they said, referring to the Federal Open Market Committee that sets monetary policy.
quote:
The release included an annual update to the population controls used in the household survey, which tracks the unemployment and participation rates, as well as the employment-to-population ratio. The adjustment boosted the estimated population size by nearly 1 million and the civilian labor force by 871,000.
For the establishment survey, the government’s updated seasonal factors may have impacted the headline payrolls figure. On an unadjusted basis, payrolls actually fell by 2.5 million last month.
The Labor Department also reclassified about 10 percent of employment into different industries in accordance with an update to the North American Industry Classification System. That resulted in “major revisions” to sectors like retail trade and information, as well as “minor” ones within industries like manufacturing and financial services, according to the report.
What’s more, the yearly update to the establishment survey showed job growth was revised higher for the final six months of 2022.
“Revisions due to both the NAICS 2022 conversion and the benchmark process affected more historical data than typical in the annual benchmark process,” the Labor Department said in the report.
Bloomberg: 'Too good to be true' jobs report draws skeptics on data quirks
Posted on 2/14/23 at 9:04 am to stout
quote:No.
Do you believe the job reports?
Posted on 2/14/23 at 9:05 am to Oilfieldbiology
quote:
6.4% year over ye are my arse.
Nah, that’s about right once you adjust it by taking out stuff most people don’t need. Like gas, electricity, groceries, you know the non-essentials.
Posted on 2/14/23 at 9:05 am to saint tiger225
I don't believe the inflation numbers either.
Posted on 2/14/23 at 9:06 am to Rip Torn
quote:
A strong labor market would mean wages are outpacing prices
Correct. A lot of high-paying jobs have disappeared.
The job report even noted how a lot of the jobs were from people not being laid off after the holiday hiring spree. Those are low-wage jobs.
Posted on 2/14/23 at 9:07 am to RLDSC FAN
This is the natural consequence of handing out trillions of dollars, along with zero percent interest. The fed screwed this completely.
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