How bad is the economy?

jujube

jujube

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I think I'm in Florida, but I'm not sure any more.
It's so bad that:

I got a pre-declined credit card in the mail yesterday.

Executives are now playing miniature golf.

Exxon and Mobil laid off 25 Congressmen.

Angelina Jolie adopted a child from America.

Motel Six isn't leaving the light on anymore.

A picture is now only worth 200 words.

Wall Street has been renamed "Wal-Mart Street".

I called the Suicide Hotline and got a call center in Pakistan. When I told them I was suicidal, they got all excited and asked if I could drive a truck.
 

Some of those are pretty funny. The only problem is, the economy is booming, yet, because of inflation, people are convinced that the economy is bad. The U.S. economy added 261,000 jobs in October, better than expected as hiring remains strong. The unemployment rate is only 3.7%. There's a worker shortage because the economy is so strong, yet political candidates are claiming that they're going to create jobs if elected. Great. That will exacerbate the shortage of workers.

The booming economy is the reason for demand for goods and services exceeding supply, which has caused runaway inflation. It's simple supply and demand economic theory at work.
 
SeniorBen said:
Some of those are pretty funny. The only problem is, the economy is booming, yet, because of inflation, people are convinced that the economy is bad. The U.S. economy added 261,000 jobs in October, better than expected as hiring remains strong. The unemployment rate is only 3.7%. There's a worker shortage because the economy is so strong, yet political candidates are claiming that they're going to create jobs if elected. Great. That will exacerbate the shortage of workers.

The booming economy is the reason for demand for goods and services exceeding supply, which has caused runaway inflation. It's simple supply and demand economic theory at work.
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Wait a minute. Explain this to me please. The economy is great, you say, yet people cannot afford to eat and fuel their homes and cars. 😖
 

chic said:
Wait a minute. Explain this to me please. The economy is great, you say, yet people cannot afford to eat and fuel their homes and cars. 😖
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Ah, yes. Since the invasion of Ukraine, energy prices have risen sharply, significantly benefiting Russia as well as other oil and gas producers. You see Putin asked his financial advisers how he could raise more money, they told him: "Start a war!"
 
Again, we confuse the timelines of inflation in the USA, with employment figures, timing of energy inflation, etc. As well as simply stating inflation is a global problem. The latter is true, but European inflation can directly be tied to the War in Ukraine, while U.S. inflation was percolating well before that event.
transitory phase.jpg
As late as September, 2021, the EU inflation rate was 3.0%, while UK's harmonized (to EU) was also 3.0%. The USA inflation rate, adjusted to EU methodology was 6.2%. (CPI was 5.3%) Apples to apples.
 
Think we will see another market tank similar to the "dot com" or "dot.con" as I like to call it... not like a great recession. Areas that are getting hit now are digital companies - coder lay offs, software tech downturns.

Look at Twitter yesterday - Musk layed off half of the workers - 3,700. He has 1 billion dollars a year to pay just in interest each year and payed way more than the company is worth in the first place.

We'll see, huh.
 
SeniorBen said:
Some of those are pretty funny. The only problem is, the economy is booming, yet, because of inflation, people are convinced that the economy is bad. The U.S. economy added 261,000 jobs in October, better than expected as hiring remains strong. The unemployment rate is only 3.7%. There's a worker shortage because the economy is so strong, yet political candidates are claiming that they're going to create jobs if elected. Great. That will exacerbate the shortage of workers.

The booming economy is the reason for demand for goods and services exceeding supply, which has caused runaway inflation. It's simple supply and demand economic theory at work.
Click to expand...
Then, why is it when I shop in supermarkets and stores like Walmart, etc, I see only one person checking customers out? Where are all these jobs?
 
jujube said:
It's so bad that:

I got a pre-declined credit card in the mail yesterday.

Executives are now playing miniature golf.

Exxon and Mobil laid off 25 Congressmen.

Angelina Jolie adopted a child from America.

Motel Six isn't leaving the light on anymore.

A picture is now only worth 200 words.

Wall Street has been renamed "Wal-Mart Street".

I called the Suicide Hotline and got a call center in Pakistan. When I told them I was suicidal, they got all excited and asked if I could drive a truck.
Click to expand...
This is funny…….but……it is so TRUE. 😕
 
I've said it before, and here I go again, much of the current inflation situation can be attributed to corporate greed, and the same can be said for the lack of workers at the checkout counters. Corporate profits are soaring, and we pay the price, while congress is complicit in the whole affair.
 
Geezer Garage said:
I've said it before, and here I go again, much of the current inflation situation can be attributed to corporate greed, and the same can be said for the lack of workers at the checkout counters. Corporate profits are soaring, and we pay the price, while congress is complicit in the whole affair.
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It’s not corporate greed that causes inflation. It’s government running the printing presses to pay for trillion dollar giveaways.
 
Geezer Garage said:
Yes, and a large part of that giveaway are the huge tax breaks to those corporations, that you, and I have to make up with are tax payments. Do you realize that American taxpayers are still subsidizing big oil?
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Yes, you can't let corporations off the hook. They are primarily to blame for the death of the middle class in America, at least. We live in a corporate state now. They control everything. Even who runs the country. And trickle down economics has never worked. Never!!!! :mad:
 

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