With the cost of living out of control, will there be a Christmas this year?

[againstthegrain]

^^^You'd have to be living under a rock not to realize that some are being left behind, but it's not the economy, it's the division of profits. Many are misusing the word "economy" where they should use the term "less purchasing power" or the like instead of a "bad economy."

Nominal or gross GDP - GDP is still on an upward path - either one is a positive indicator of the condition of the economy.

Until people stop buying stuff the sellers of goods and services are going to keep raising prices.

 

[againstthegrain]

Definition of economy -

"An economy encompasses all of the activities related to the production, consumption, and trade of goods and services in an entity, whether the entity is a nation or a small town."

It can probably be best represented by the GDP or gross domestic productivity."

Definition of GDP -

"Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health."

 

[Nathan]

I knew this thread was going to devolve, leaving two camps staring at each other as crazies.

Lol, it was inevitable, given the subliminal political undertones of the thread.

 

[Harry Le Hermit]

Definition of economy -

"An economy encompasses all of the activities related to the production, consumption, and trade of goods and services in an entity, whether the entity is a nation or a small town."

It can probably be best represented by the GDP or gross domestic productivity."

Definition of GDP -

"Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health."

Argentina must be doing gang busters, according to this...


Nominal doesn't capture the ill effects of inflation...
Maybe this will help...

 

[againstthegrain]

^^^Would you rather be in an economy w rising GDP or falling GDP?

 

[Harry Le Hermit]

^^^Would you rather be in an economy w rising GDP or falling GDP?

Not sure to whom that question is being addressed, but the operative term is Real or inflation adjusted GDP that is moderately rising, WITH moderate inflation, in the 2% range.

 

[Robb.hisself]

This one looks uglier:

The ‘Fair Tax’ Act Would Radically Restructure the Nation’s Tax System in Favor of the Wealthy

90% of the U.S. economy is based on the consumer. This tax will mean a recession in 2025 and later.

 

[Harry Le Hermit]

90% of the U.S. economy is based on the consumer. This tax will mean a recession in 2025 and later.

Not sure why this became a topic, as it is going nowhere, just as in years past...
FairTax Act of 2015
FairTax Act of 2017
FairTax Act of 2019
FairTax Act of 2021
FairTax Act of 2023
Wanna take bets on who might introduce the "FairTax Act of 2025?"

 

[ohioboy]

All bills to spend money must originate in the House of Representatives.

You need to read that again carefully, as that is not what is states.

 

[MadMongoose66]

You need to read that again carefully, as that is not what is states.

Constitutionally, the house of representatives has always been in control of preparing the financial bills. Those bills can be shut down by the senate and later by the president. This is why nothing gets done. Bipartisanship no longer exists in America . The next president will be hated by 50% of the country and loved by the other half.

Well, I tried not to get political. However, I'm just stating basic facts. Without regard to any current candidate.

 

[ohioboy]

"All bills for raising Revenue must originate in the House."

Appropriation bills are not to raise revenue.

 

[CallMeKate]

I knew this thread was going to devolve, leaving two camps staring at each other as crazies.

Yep... and in the meantime, the OP joined the forum, stuck around for 3 hours, and left the building. Sometimes ya can almost predict the deliberately inciteful posts from the get-go. @dilettante

 

[Liberty]

Think most people, if ask what they would do differently now that they are oldsters would
say "invest more".

Stock market returns since 1960 If you invested $100 in the S&P 500 at the beginning of 1960, you would have about $47,173.47 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 47,073.47%, or 10.15% per year.

Have a friend that has given me hand made Christmas presents for years. If the price of yarn or paint goes up it doesn't bother her much. She always seems to have that nest egg saved and she has raised 2 kids with not a dime of child support from 2 dead beat dads. She invests in being frugal and always has a great Christmas.

 

[Robb.hisself]

Yep... and in the meantime, the OP joined the forum, stuck around for 3 hours, and left the building. Sometimes ya can almost predict the deliberately inciteful posts from the get-go.

I am glad we are not talking politics here. Could we all be banned? Maybe the reason the OP left was because he got banned. We'll probably never know.

 

[Timewise 60+]

This one looks uglier:

The ‘Fair Tax’ Act Would Radically Restructure the Nation’s Tax System in Favor of the Wealthy

I have lived long enough to have lived through many "Tax and Spend" Presidents!

None have ever had an impact on my families Christmas! Gifts have never been primary to Family Fellowship, Music, Food and Friends. They are at the heart of all of our Christmas celebrations. What gifts we have are appreciated regardless of cost. I can honestly say many of my favorite gifts over the years have cost little or nothing! Like my first piece of 'artwork' made especially for me by my first Grandchild! Yep, doesn't get any better...

"Merry Christmas to all and to all a good night"

 

[StarSong]

Yep... and in the meantime, the OP joined the forum, stuck around for 3 hours, and left the building. Sometimes ya can almost predict the deliberately inciteful posts from the get-go. @dilettante

I call these "seagull posters." While flying over they take a quick crap on the landscape, continuing on without so much as a backward glance to check where their droppings landed.

 

[Nathan]

I call these "seagull posters." While flying over they take a quick crap on the landscape, continuing on without so much as a backward glance to check where their droppings landed.

 

[dilettante]

Funny. It doesn't look that politically charged or inflammatory to me:

I can’t believe how badly our economy is. The Federal Reserve has lost control and today so many Americans are dealing with the uncertainty of Christmas. What are your thoughts? Do you see a light at the end of the tunnel? I’m concerned!

So what's going on? Did he inadvertently hold a mirror up to us?

 

[Harry Le Hermit]

In recent history the Republicans claim they only cut taxes rather than increase them. Of course Reagan raised taxes eleven times when a Republican governor in California and though George Bush said 'no new taxes' he did raise taxes to begin paying down Reagan's huge deficit he had run up as a two term President. Nevertheless, I'd guess the Democrats would be the guilty party.

[sigh] I tried! Maybe Earl "Buddy" Carter.

 

[Timewise 60+]

Some write from facts, some don't! Choose your own poison.

 

[StarSong]

[sigh] I tried! Maybe Earl "Buddy" Carter.

Just looked him up. Yikes on bikes!!!

 

[Nathan]

Just looked him up. Yikes on bikes!!!

I just did too, smh

 

[papa tiger]

Have you played the Card Game BullShit? Well, that's what I say when I walk around the Grocery Store see employees that look creepy, maybe they now live there?. $10 for a Lb of Bacon. B.S. $5 for a cold tub of Potato Salad what will feed 4. ..B.S. $12 for Coffee. ...B.S. This is what the administration has for us to swallow constantly. B.S. ..... Sure, all of it is B.S. At least Gasoline has dropped at the pump many places! Of course, that's to get reelected and total B.S. Sure, Taxes have gone up right along with prices. B.S.

 

[Brookswood]

This one looks uglier:

The ‘Fair Tax’ Act Would Radically Restructure the Nation’s Tax System in Favor of the Wealthy

All of the above is nasty, but so far that bill has not passed through the Congress and been signed by the President. Let’s make sure people know that. McCarthy says that he only promised the bill would be heard in committee.

It’s hard to see such a thing as described in the article passing. But, with this bunch of partisan Congressional warriors out for the blood of the other side, and the American people seen as acceptable collateral damage, I would not assume it would not pass in some form.

 

[againstthegrain]

Have you played the Card Game BullShit? Well, that's what I say when I walk around the Grocery Store see employees that look creepy, maybe they now live there?. $10 for a Lb of Bacon. B.S. $5 for a cold tub of Potato Salad what will feed 4. ..B.S. $12 for Coffee. ...B.S. This is what the administration has for us to swallow constantly. B.S. ..... Sure, all of it is B.S. At least Gasoline has dropped at the pump many places! Of course, that's to get reelected and total B.S. Sure, Taxes have gone up right along with prices. B.S.

Guess what papaer tiger I'm calling your entire post, wait for it...........












BS!