The Trump Economy

[RX792P]

Not so good

Layoff announcements ballooned in January, hitting the highest level for the month since 2009, according to a Thursday report from the global outplacement firm Challenger, Gray & Christmas.



The number of Americans filing new applications for unemployment benefits increased more than expected last week, likely boosted by snowstorms ​across much of the country, but labor market conditions remain stable.

Initial claims for state unemployment benefits jumped 22,000 to a seasonally adjusted 231,000 for the week ended January 31, the Labor Department said on Thursday.

The number of people receiving unemployment benefits after an initial week of aid, a proxy for hiring, increased 25,000 to a seasonally adjusted 1.844 million during the week ended January 24, the claims report showed.

[RX792P]

Nice exchange (and half-truth answer)

Warren then asked, “Let me just ask about what’s happened in the one year that Donald Trump has been president. Last week, President Trump said, quote, we have the groceries going down. Did grocery prices drop in 2025?”

Bessent replied, “Numerous prices have.”

Warren repeated, “Did grocery prices drop in 2025?”

Bessent doubled down, “Numerous grocery prices have gone down.”

Warren repeated, “I’m sorry. I don’t know if you can’t hear me. Did grocery prices drop in 2025?”

Bessent replied, “Numerous grocery prices have gone down.”

Numerous...QUIZ: pick out the 'numerous' in the below


Jan. 18, 2025 – Jan. 10, 2026
Grocery product prices and trends

Chicken eggs/dozen
$3.99Change since a year ago:‑$1.51

Chicken breast/lb
$4.94Change since a year ago:+$.11

Fresh ground beef/lb
$6.64Change since a year ago:+$.89

Orange juice/32 oz
$4.71Change since a year ago:+$.94

Bacon/lb
$6.77Change since a year ago:+$.16

Bread/loaf
$3.13Change since a year ago:+$.15

https://www.nbcnews.com/data-graphic...ion-rcna239569

[RX792P]

Originally Posted by RX792P

Yowch!
Those who bought bitcoin at $130K or so will not be happy.

Today
$68,534
-$4,750
-6.48%

Down 25% in 1 year

Not so good a year for any cryptocurrency
https://www.foxbusiness.com/category/cryptocurrency

Double ouch
Bitcoin down to $65K



And
Job openings dropped in December, widely missing economists' expectations and tumbling to the lowest level since 2020, according to government data released Thursday.

[RX792P]

Trummp's actions continue to foster a K-Shaped Economy.
https://news.yahoo.com/news/finance/...152337003.html

A

ccording to BofA Global Research, tax refunds in 2026 are expected to be approximately $65 billion higher than in 2025—an 18% year-over-year increase. The bank estimates the total consumer stimulus from the OBBBA will range from $135 billion to $140 billion. However, the structure of these tax breaks, particularly changes to the state and local tax (SALT) deduction caps, suggests that middle- and higher-income households will reap most of the benefits.

BofA’s analysis highlights a persistent “K-shaped” dynamic in the post-2025 economy, where the financial fortunes of the wealthy diverge sharply from those of lower-income Americans. In late 2025 and early 2026, spending by higher-income households rose by 2.4%, while lower-income households saw just 0.4% growth.

[Precious_b]

Originally Posted by RX792P

Yowch!
Those who bought bitcoin at $130K or so will not be happy.

Today
$68,534
-$4,750
-6.48%

Down 25% in 1 year

Not so good a year for any cryptocurrency
https://www.foxbusiness.com/category/cryptocurrency

Chumpcoin ain't doing to hot either.

So much for these things hedging hard times.