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Nine States Face Economic Contraction, Most Since 2009 Crisis

bloomberg.com

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Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#61

Post by daxorid »

barrygwn wrote: post #6

Now that Michael Bloomberg is running for president, I can't help but question if there is an ulterior motive behind each article at Bloomberg.com

Yes, eleven years into a ZIRP-induced asset bubble, the ISM collapsing, China deal still unsigned, CAPE ratio at the second highest level ever, increasing tensions with Iran, six months after the yield curve inversion, a repo market on "not QE" life support, a stagnant housing market, massively underfunded pensions in most states, exploding CRE, corporate junk, student, auto, and revolving debt, and a near-term demographic consumption cliff: Anyone reporting data that may perchance suggest that perhaps, maybe, the party might be wrapping up is only doing it for political reasons.

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#62

Post by metalliqaz »

adventured wrote: post #31
JumpCrisscross wrote: post #5

Earlier quoted context omitted.

> Bloomberg sure is working hard to talk down the economy It’s a finance publication. Its bread is buttered by people paranoid about missing the next big thing, whether that be an unexpected winner or unexpected pullback.

CNBC - which is not even a great financial & business news media outlet - does a dramatically better job of balancing their bullish versus bearish articles. Bloomberg, the media platform, went noticeably bearish after Michael Bloomberg publicly came out against Trump a few years ago. I've been reading Bloomberg daily for a very long time, it wasn't a subtle turn, it was dramatic and immediate - which perfectly fits w…

There is no reason to value a "balance of bullish versus bearish articles." If the prevailing sentiment is one or the other, then those would be viewpoints most represented.

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#63

Post by throwno »

wozniacki wrote: post #10
leereeves wrote: post #2

Bloomberg sure is working hard to talk down the economy. Throughout 2019 they were talking about recession. https://duckduckgo.com/?q=bloomberg+recession+2019&t=ffab&at...

He's been doing this since atleast 2016. I wouldn't rule out he having sights on a presidential run since atleast then. He did form an exploratory committee once before and abandoned the run when it showed he didnt have enough support.[1] [2] Stocks keep climbing and climbing, but Michael Bloomberg isn't sure why. "I cannot for the life of me understand why the market keeps going up," the former New York City mayor s…

It's comical how Bloomberg wouldn't get into the race until Warren polled higher than Biden for two days. Even a tiny chance that a wealth tax could happen was enough for Bloomberg to commit to the race. Haha.

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#64

Post by [deleted] »

rjsw wrote: post #40
alamaslah wrote: post #27

Earlier quoted context omitted.

And yet you have not linked to the mediabiasfact site's profile of the sources you provided...That is an example of bias. Are you going to answer my question? Ps. This is a new account. I've been here 11 years and I have noticed those that cite the guidelines are often trying to hide behind them. Also, your own positions are depending upon assuming bad faith.

The Daily Mail is not a newspaper of record.

[deleted]

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#65

Post by metalliqaz »

endorphone wrote: post #56

Why is every single reply thus far head in the sand, fingers in the ears denialism? This is a report that simply repeats what the Federal Reserve Bank of Philadelphia predicts. The US economy is cyclical, and it's had a very good boom cycle (which was sweetened by QE, historically low interest rates, AND a trillion dollar deficit, all absolutely incredible during full-employment and full-growth. The US is now at a po…

Humans have a natural tendency to discount things that are unpleasant. A site like this one contains a lot of people that have a lot to lose if the economy makes a downturn.

This kind of blind spot was featured prominently in The Big Short, especially the Brownfield Capital plot line (2015 film).

[1] https://en.wikipedia.org/wiki/Negativity_bias#Decision-makin...

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#66

Post by adger »

troydavis wrote: post #60
romaaeterna wrote: post #53

Earlier quoted context omitted.

The URL on Daily Mail that you cite has "factcheck" in the domain name and calls itself "The Most Comprehensive Media Bias Resource". It has no about page and is exactly the sort of URL that I'd expect to get emailed from my impressionable 78-year-old mother.

Fair point. https://www.theguardian.com/technology/2017/feb/08/wikipedia... is probably a better summary of how Daily Mail is perceived. Wikipedia prohibits its use as a source, explaining: "volunteer editors on English Wikipedia have come to a consensus that the Daily Mail is ‘generally unreliable and its use as a reference is to be generally prohibited, especially when other more reliable sources exist.’" They cite…

Sorry, but this is becoming embarressing for you. You are not disagreeing with the information in the article, merely smearing the organisaton it is published by. Then you provide opinions of organisations that are equally unreliable.

You have been abusing your downvoting privilege and flagging comments. Down thread you resorted to lying. Amusingly you accused a commenter of assuming bad faith. Perhaps you should go and read the guidelines you cited?

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#69

Post by bilbo0s »

thathndude wrote: post #15

If this is true/accurate, and for the reasons others note, we’re right to be skeptical, what makes it BS in my mind is the effort to suggest that it’s indicative of a systemic issue. It may well be that is the precursor to a nationwide contract. But looking at the list of states, this also looks like a simple continuation of the ongoing shifting in populations to larger, urban economic cores. The only one that surpri…

>The only one that surprised me a little is PA, but that’s because I’m in Ohio, and I forget that the East part of PA has a lot of big economic centers luring people and industry away.

Wait? Wouldn't that mean economic growth for PA as a whole? Why would big economic centers luring people and industry to them result in contraction?

Re: Nine States Face Economic Contraction, Most Since 2009 Crisis

#70

Post by bilbo0s »

metalliqaz wrote: post #65
endorphone wrote: post #56

Why is every single reply thus far head in the sand, fingers in the ears denialism? This is a report that simply repeats what the Federal Reserve Bank of Philadelphia predicts. The US economy is cyclical, and it's had a very good boom cycle (which was sweetened by QE, historically low interest rates, AND a trillion dollar deficit, all absolutely incredible during full-employment and full-growth. The US is now at a po…

Humans have a natural tendency to discount things that are unpleasant. A site like this one contains a lot of people that have a lot to lose if the economy makes a downturn. This kind of blind spot was featured prominently in The Big Short, especially the Brownfield Capital plot line (2015 film). [1] https://en.wikipedia.org/wiki/Negativity_bias#Decision-makin...

>Humans have a natural tendency to discount things that are unpleasant.

I think it might be more accurate to say we discount things that do not support our world views. If something is unpleasant, but supports our world view, even if that thing is not entirely true we give it a lot of weight. If the unpleasantness does not support our worldview however, well, yeah, even if it is completely true, we tend to dismiss that information.

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