Is it really "the economy'?

[pls-consignments]

"The US ecomony grew at a blistering rate despite high interest rates" - CNN

"US GDP grew at a 4.9% annualized rate over three months ending in September" - ABC

"U.S. Economic Growth Accelerated in the Third Quarter" - New York Times

"Amazon reports better-than-expected results, as revenue jumps 13%" - CNBC

Well, so much for THAT being a reason why we're seeing slow sales 😕

[whatmorefabric]

I do research as a side gig.    My boss says that you cannot bend the truth until  you know it.

Gas prices are not coming down.     Gas demand went down during Covid,   refineries shut down and they are not coming back on line.   Iran,  Russia and Saudi Arabia made production level deals to keep supply low.     Most companies like BP,  Shell etc are transitioning away  from oil as all cars manufactured after 2030 will be electric.      Profits are high,   people are buying gas,  so why lower it.

Food.     A wicked hot summer decreased grain production in Midwest.   Grain prices are higher and everything from feeding chickens to making cereal has gone up.     Again,  record profits will keep prices  high.

Fruits and veggies took a huge hit with heat.   Peaches almost nil in Georgia,  lemons and fruits yield lower in Florida.     We use to compensate by importing fruits and veggies,  but a tariff leveled on them by Trump meant that other countries found other sources to ship to.     

State Taxes will be going up because  Federal Covid funds have disappeared.     States used these funds and  but now have to rely  on state generated funds.

My metal roof is going to cost me 3000.00 more.      The roof is being manufactured here in the US instead of China.       There is more manufacturing  being done in the US.    Four major corporations brought jobs back from China just here in Southern NH.      US citizens do not work for 1.27 an hour.     

[skatefool]

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@lux.ra_14 wrote:

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@selsa84 wrote:

So which news sources are you referring to as reliable?

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Don't expect a real answer or a specific news source. The usual answer is scouring the internet, or consulting many sources, or something equally vague. Makes one wonder if some people are just too embarrassed to admit what they view as "credible."

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That's right.  Only one new source you will ever need - the NYT.

[lux.ra_14]

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@skatefool wrote:

That's right.  Only one new source you will ever need - the NYT.

Winner of 132 Pulitzer Prizes, and counting. 

To compare, Fox has zero + one historic settlement for nearly $1 billion for repeatedly lying to its viewers.

[monica-sells]

I don't need a 'source'

[meme6253]

Not Far Fetched, But there is more to it than just that!, Let's not kid ourselves!

[animal-house-8]

I went with 3.2% fixed no issues.

[gloryglorygifts]

As a wise person once told me, "you can have the greatest product in the world, but if nobody knows about it you aren't going to have any sales." 

I don't think it's just the economy. I think it's a combination of things.

[tobaccocardyahoo]

There are lots of economic measures and interpreting them is an art, not a science.

There is no reason to expect the growth in GDP to offset the cumulative effects of inflation.

The only way to offset the effects of inflation are wage growth which offsets the inflation.

The FED is working hard to hold down wage growth while not destroying GDP growth.

GDP growth this high means more effort by the FED to hold down wage growth is coming.

This probably means people who work for a living and those who sell to them will continue to feel pain.

I've been referring to the state of the economy recently as "hard times" because it is easier to understand. and immune from confusion with by the GDP growth or a lower inflation rate.

\

[yuzuha]

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@reallynicestamps wrote:

I suspect  a lot of the moaning about a poor economy comes from people living in low income areas. Which makes sense because if there isn't much going on economically near you, all you see is unemployment and closed businesses.

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I suspect so as well. I live in an area with a high minimum wage and business is booming around here. Like you said, there are places hiring starting at $18+ that can't find workers-- anyone who wants or needs a job could go out there and find one within an afternoon. Stores and restaurants are full and there are plenty of NEW stores and restaurants opening up as well. I can think of at least three new restaurants that will be opening up within walking distance in the next few months.

[myfrugalboutique]

@whatmorefabric 

PLEASE get your fact correct. With reference to ALL CARS BEING ELECTRIC BY 2030 is totally not reading the statement. READ

Tesla told the Environmental Protection Agency (EPA) that the United States could go all-electric by 2030, but it would settle for 69% of new car sales.

Please notice “COULD GO ALL ELECTRIC is not even close to what you said. Tesla , GEE I WONDER WHY..do you think that Musk said that, yup. 

Everything you say is poorly twisted like some news media.

1. NO electric cars are not required by 2030

2. NO gas prices are not going up, ours are around $3.75

3. farm prices..do you know the “farm welfare” program AKA farm subsidies is paid from taxpayers money. You can learn who received those welfare payments  read this

”https://www.ewg.org/news-insights/news/2023/09/despite-record-farm-income-and-subsidies-some-seek-ev...

I know that for a fact because my father owned over 10,000 acres of farm and oil land and received one of the biggest yearly payments in the state of Kansas. (NO I DID NOT GET ANY)

Read before you lecture. get your facts correct. 

[myfrugalboutique]

@monica-sells

obviously you do not have a fixed rate mortgage. That in itself was not accurate. People should have fixed rate if they even have a mortgage 

[whatmorefabric]

Did not say electric cars required.    Every car manufacturer from BMW to Ford target 2030 to 2035 for complete transisii  to electric.

Did not say gas going up.   Said gas prices will not be coming down.    

Farm subsidies have nothing to do with price of grain.  USDA stated that grain prices and futures went up due to hot dry summer.

Subsidies,      Get your name on the business.    A software engineer with my husbands company got one just because his name on family business.

[myfrugalboutique]

https://www.pbs.org/newshour/politics/how-billions-in-covid-19-pandemic-relief-aid-was-stolen-or-was...

[retro_entertainment_collectibles]

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@chapeau-noir wrote:

ROFL! If you pay attention to mainstream media, everything that is happening in this administration that is good HAS to be bad, in contradistinction to the last administration where everything bad was actually good. They have to satisfy their paymasters, which is why MSM is losing its credence.

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Why I dont watch CNN, Fox, MSNBC or any of them.  News Nation is extremely balanced and is literally the fastest growing cable news network going in the USA.   As Bill O'Reilly who basically is the man who got Fox News on the planet says, "We've two teams... Team Normal and Team Crazy."  Team normal are both Republicans and Democrats who are centrist in views and can well get together at picnics, family gatherings, various events and talk sane facts.  Team Crazy are the minority and they exist on both sides, on the Democrat side of Team Crazy its accept just about anything no matter how much it damages or impacts Team Norma l and tend be over-educated.  On the Republican side of Team Crazy there are just hordes of people who bask in conspiracies, point fingers, never point at themselves and tend be under educated.  Both sides of Team Crazy get along with nobody except those on their side of Team Crazy.

Good news sources on TV, New Nation, PBS, Reuters.  What America needs to do is suppress both sides of Team Crazy and in reality both have issues... That is to say one cares try make some Utopian fantasy that has never and will never exist short of The Garden of Eden and we know how that turned out.  The other end of Team Crazy wants blame everyone but self for everything and won't believe any facts that don't fit their narratives and refuse to ever admit wrongfulness.  Now, take that back say 60 years in time, the mindsets, it's literally foundations for institutionalization, they'd give a room and medicate em' 110% true.

[selsa84]

Reuters is a great source. Don't know too much about News Nation.  Fox is a joke though. Same with OAN and newsmax. My dad used to watch OAN untill we had it removed and blocked at his house. He still thinks it's the liberals who had the station turned off. My aunt and Uncle are very conservative and they watched it once and couldn't believe the crap that was said on there.