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Turner2099 · Yesterday, 02:23 PM

Quote:

Originally Posted by RX792P

Aha...now we know why houses are unaffordable...

Treasury Secretary Scott Bessent, when talking about the administration protecting "mom and pop" homebuyers from big investor groups, saying,

It's not those pesky corporate buyers...it's your mom and dad.

Trivia for multimillionaire Scott “In a certain geographic region at a certain economic level, being gay is not an issue" Bessent:
Per US Census Bureau, only 65% of Americans own a home, and only 4% own a second home.

Don't forget the rise in beef prices according to Bessent:

“Because of the mass immigration, a disease that we’d been rid of in North America made its way up through South America as these migrants brought some of their cattle with them,” he said. “We’re not gonna let that get into our supply chain.”

RX792P · Yesterday, 02:33 PM

South American immigrants...brought (and fed and watered) cattle over the roughly 3,000 miles to the U.S.-Mexico border?????

Turner2099 · Yesterday, 04:02 PM

Quote:

Originally Posted by RX792P

South American immigrants...brought (and fed and watered) cattle over the roughly 3,000 miles to the U.S.-Mexico border?????

They must have snuck them quietly across at night.

RX792P · Yesterday, 06:54 PM

Ain't just Trump, but he's done nothing to counteract it...increasing both spending and debt, as well as cutting income, faster than previous administrations

Quote:

The United States national debt has reached a precarious milestone, hitting 100% of Gross Domestic Product (GDP) and placing the nation on a trajectory that could trigger six distinct types of fiscal crises, according to an ominous new warning issued Thursday by the Committee for a Responsible Federal Budget (CRFB).

https://news.yahoo.com/news/finance/...180855339.html

Maybe it's 'doom scrolling ...but I' afraid sooner or later, that bird's going to come home to roost.

RX792P · Yesterday, 06:54 PM

Just for reference as you hear his claims, when Donald Trump took office in Jan 2025, YoY inflation was 3% This month YoY inflation was 2.8%

lustylad · Yesterday, 09:27 PM

Quote:

Originally Posted by RX792P

Quote:

The Bureau of Economic Analysis (BEA) on Thursday released its final reading of third quarter GDP, which showed the economy grew at an annualized rate of 4.4% in the three-month period including July, August and September.

That figure topped the expectations of economists polled by LSEG, who had estimated 3.3% GDP growth in the third quarter. It was also the fastest growth rate in two years.

The report also found that real GDP rose at an annualized rate of 3.8% in the second quarter. That followed a GDP contraction of 0.6% in the first quarter. Taken together, those three readings indicate the U.S. economy grew at a 2.5% annualized rate through the first three quarters of 2025.

The BEA said the rise in real GDP reflected a rise in consumer spending, exports, government spending and investment. Imports also declined in the third quarter.

"Compared to the second quarter, the acceleration in real GDP in the third quarter reflected upturns in investment, exports, and government spending, as well as an acceleration in consumer spending. Imports decreased less in the third quarter than in the second," the BEA said.

a caveat..the increased consumer spending may involve both paying higher prices for the same goods and a strong bias toward the highest income brackets doing the spending rather than across the board consumer spending.

Your "caveat" is nonsense. Your TDS is showing.

You're desperately searching for a fly in the ointment and failing to find one you can latch onto. (In fairness, other posters in this thread are doing the same.) Why can't you just relax and say it looks like we're enjoying exceptional economic growth, at least partly due to trump's policies, and let's talk about what lessons can be drawn from this good news?

Consumer spending (the largest component of GDP) is measured & reported in real terms. "Real" means the data is adjusted for inflation. If consumer spending grows by 7% in nominal terms while inflation is running at 3%, then consumer spending is expanding by 4% in real terms, i.e. AFTER stripping away the "higher prices for the same goods" aspect you cite in a lame & bogus effort to make the data look weaker. This is elementary Economics 101. You should know better. Nice try, I guess.

Then you go on to suggest the gains in consumer spending were driven by rich fucks - i.e. people in the "highest income brackets", which you don't bother to define - so this spending doesn't really do anything for the rest of us poor schmucks who are presumably being left behind in the Trump economic boomlet.

Ok... got a link in support of that claim, RX792P?

Please show me a study that finds consumer spending in 2025 was any less "across the board" than it was under Joe Biden's economy.

We'll wait.

lustylad · Yesterday, 09:49 PM

Quote:

Originally Posted by RX792P

Just for reference as you hear his claims, when Donald Trump took office in Jan 2025, YoY inflation was 3% This month YoY inflation was 2.8%

It's January 2026. CPI data for "this month" are not scheduled for release until February 11. Perhaps you have an insider at the BLS feeding you the numbers in advance?

The 12-month CPI increase last month (December 2025) was 2.7%, not 2.8%.

RX792P · Today, 07:31 AM

Quote:

Then you go on to suggest the gains in consumer spending were driven by rich fucks - i.e. people in the "highest income brackets", which you don't bother to define - so this spending doesn't really do anything for the rest of us poor schmucks who are presumably being left behind in the Trump economic boomlet.

Ok... got a link in support of that claim, RX792P?

It's called a K-shaped economy...look it up.

Yep...
https://fortune.com/2025/09/17/econo...umer-spending/

Quote:

A Moody’s analysis shows U.S. spending growth since the pandemic has come almost entirely from the wealthiest households, with the bottom 80% merely keeping pace with inflation. Chief economist Mark Zandi warned that the economy is increasingly “tethered” to the top earners, whose wealth continues to surge, while retail sales remain resilient despite weaker job growth and higher prices.

https://finance.yahoo.com/news/top-1...191500198.html

https://www.dallasfed.org/research/e...5-yang-consume

RX792P · Today, 07:37 AM

Quote:

Originally Posted by lustylad

It's January 2026. CPI data for "this month" are not scheduled for release until February 11. Perhaps you have an insider at the BLS feeding you the numbers in advance?

The 12-month CPI increase last month (December 2025) was 2.7%, not 2.8%.

Pardon my typo...here's a correction and additional context.

When Donald Trump took office in Jan 2025, YoY inflation was 3% December 2025 YoY inflation was 2.7%...An increase from April 2025 YoY inflation of 2.3%

pxmcc · Today, 08:15 AM

this is why developing policy to pay off the debt is so crucial. my attempt in the "I fought the swamp" thread is imperfect but the concept is still super important.

eventually, the markets will fix what politicians can't or won't. it won't be pretty..

Quote:

Originally Posted by RX792P

Ain't just Trump, but he's done nothing to counteract it...increasing both spending and debt, as well as cutting income, faster than previous administrations

https://news.yahoo.com/news/finance/...180855339.html

Maybe it's 'doom scrolling ...but I' afraid sooner or later, that bird's going to come home to roost.