Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues IV

[Lily Adler]

 

[Lily Adler]

 

[Lily Adler]

Biden says he's 'tired of trickle-down' economics but his party is showering private equity firms with big Trump-era tax breaks in numerous states

 

[Lily Adler]

Ding ding ding ding!

 

[Lily Adler]

 

[Lily Adler]

 

[Lily Adler]

 

[Teelie]

We could wipe out student debt for a fraction of those forever wars. If only we could find a way to declare a war on student debt... then I am sure they could find a way to fight it.

 

[MagnarTheGreat]

Weekly unemployment claims hit a 52-year low - CNN

 

[Prison Mike]

 

[Lily Adler]

 

[Lily Adler]

 

[Lily Adler]

 

[Lily Adler]

 

[MagnarTheGreat]

 

[Lily Adler]

 

[MagnarTheGreat]

Wall Street Journal - Booming U.S. Economy Ripples World-Wide
Surging American demand draws investment from overseas with supply chains working to keep pace and driving up prices

A booming U.S. economy is rippling around the world, leaving global supply chains struggling to keep up and pushing up prices.

The force of the American expansion is also inducing overseas companies to invest in the U.S., betting that the growth is still accelerating and will outpace other major economies.

U.S. consumers, flush with trillions of dollars of fiscal stimulus, are snapping up manufactured goods and scarce materials.

U.S. economic output is set to expand by more than 7% annualized in the final three months of the year, up from about 2% in the previous quarter, according to early output estimates published by the Federal Reserve Bank of Atlanta. That compares with expected annualized growth of about 2% in the eurozone and 4% in China for the fourth quarter, according to JPMorgan Chase.

Major U.S. ports are processing almost one-fifth more container volume this year than they did in 2019, even as volumes at major European ports like Hamburg and Rotterdam are roughly flat or lag behind 2019 levels. The busiest U.S. container ports are leaping ahead of their counterparts in Asia and Europe in global rankings as volumes surge, according to shipping data provider Alphaliner.

In Europe, “durable goods consumption is showing nothing like the boom that is ongoing in the United States,” said Fabio Panetta, who sits on the European Central Bank’s six-member executive board, in a speech last month. Consumption of durable goods has surged about 45% above 2018 levels in the U.S., but is up only about 2% in the eurozone, according to ECB data.

 

[MagnarTheGreat]

Weekly U.S. Regular All Formulations Retail Gasoline Prices (Dollars per Gallon)

EIA lists about a 12 cent reduction in the past month and a half for the national average.

 

[MagnarTheGreat]

NY Times - Why Christmas Gifts Are Arriving on Time This Year
Fears that a disrupted supply chain could wreak havoc on the logistics industry over the holiday turned out to be wrong as many Americans ordered early and shopped in stores.

Reuters - Christmas supply-chain crisis has been averted, Biden and FedEx CEO declare

 

[MagnarTheGreat]

NY Times - As Prices Rise, Biden Turns to Antitrust Enforcers
A wide-ranging presidential order helped block a railroad merger and tackle supply-chain problems, and it is planting the seeds for bigger actions.

 

[MagnarTheGreat]

CNBC - Private job growth totals 807,000 in December, more than doubling expectations, ADP says



At this point with the government numbers wrong and underestimated every month whereby they are revised later you have to assume incompetence or sabotage in the chain from the states to the feds.

 

[moviedoors]

 

[DJ Kornphlake]

 

[MagnarTheGreat]

The Washington Post - US economy grew 5.7% in 2021 in rebound from 2020 recession

The U.S. economy grew last year at the fastest pace since Ronald Reagan’s presidency, bouncing back with resilience from 2020’s brief but devastating coronavirus recession.

The nation’s gross domestic product — its total output of goods and services — expanded 5.7% in 2021. It was the strongest calendar-year growth since a 7.2% surge in 1984 after a previous recession. The economy ended the year by growing at an unexpectedly brisk 6.9% annual pace from October through December, the Commerce Department reported Thursday.

Yahoo! News - Q4 GDP: US economy expanded at 6.9% annualized rate, topping expectations

 

[MagnarTheGreat]

At this point with the government numbers wrong and underestimated every month whereby they are revised later you have to assume incompetence or sabotage in the chain from the states to the feds.

MarketWatch - U.S. gains 467,000 jobs in January and hiring was much stronger at end of 2021 despite omicron
Unemployment rate rises to 4% and wages rise sharply again

“Hourly wages shot up 23 cents, or 0.7%, to $31.63 in January. Over the past year wages have jumped 5.7% — the biggest increase in decades.”

“Instead, companies apparently ramped up hiring. Employ gains in December and November were also much stronger than initially reported, newly revised data show.“

revisions:
November: 647,000 jobs added
December: 510,000 jobs added