71–80 of 105 posts
Wages need to double, just like everything else has. A new house costs a million, yet some people are forced to strike to get a $3 wage increase.
This is what you get for having a car-based society with no walkability and so much wasted space. The chickens are coming home to roost and it's time for you to pay the piper.
> Growth in the US has already contracted for two quarters in a row, a milestone that in many countries - though not the US - is considered a recession. this again :lol:
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He's not in trouble for causing a recession cause he hasn't. The statement in the article is debatable even if you want to use a technical definition. Real GDI, which is supposed to be the same thing as real GDP, hasn't decreased: https://fred.stlouisfed.org/series/A261RX1Q020SBEA Which suggests dips in GDP are actually due to measuring it incorrectly since the economy is so unusual right now. Also, people dislike in…
He "hasn't" only because they (many economists and reporters) abandoned the de facto/practical definition which had been used in previous Recessions in favor of a more strict definition to define it away, or rather postpone the inevitable.
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At least with Clinton the budget was balanced and even ran at a surplus.
The "Clinton surplus" was an accounting gimmick where money stored in various government "trust funds" was loaned to the Treasury in exchange for Treasuries, but was counted as normal revenue. If "intragovernmental debt" were properly accounted for, Clinton never had a surplus (indeed, the national debt increased every year of his presidency, just like his predecessors and successors).
I’m losing money by keeping it in a savings account. I’m losing money by keeping it in a brokerage account. I don’t want to change jobs to get a higher salary because I fear getting laid off. When there is no winning move, it definitely feels like a recession.
And here people are losing jobs going, yup, recession is real. Perspective is everything. If you have a job and continue to make your same salary, the recession isn't nearly the same thing to you. To know people are actively losing jobs and bitching about not become richer as fast as you were yesterday just comes across as very tone deaf.
Many people I know who are getting paid in USD have been rubbing it in quite hard lately, honestly I'm happy for them but it's also kind of unfair their mortgages have been greatly reduced while mine hasn't changed at all.
There is always a silver lining...
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What about assets? At least if the asset prices go up you can recoup.
Asset prices go down when interest rates go up. Equities, real estate, even bonds (refer to bond funds getting decimated over the last year). Safe havens are cash or paying down debt with an interest rate over inflation. (not investing advice, educational purposes only)
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I’m losing money by keeping it in a savings account. You are losing in real terms but not nominal But this depends on your consumer preferences and cost of living. You are only losing 7%/year in CPI is your expenses are concentrated in food, energy , or used cars. High inflation is tough because it means everyone loses in real terms. Nowhere to hide.
What about assets? At least if the asset prices go up you can recoup.
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Ally saving account rates are > 2%. You are not "losing money" in that your total account value is going up, but your purchasing power is going down as it's lower than inflation.
If only Ally allowed non-citizens and non-Green Card holders to open accounts. I've got my emergency fund in Robin Hood. They pay 3% on cash in the brokerage account.
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Spot on, and the recent press around Amazon's warehouse churn tells you everything you need to know about how they view labor. They're legitimately at risk of churning through their entire candidate pool in some job functions within the next few years and they don't care at all.[0] 0: https://www.theguardian.com/technology/2022/jun/22/amazon-wo...
Perhaps that explains the increasingly frenetic attempts from AWS recruiters to contact me.
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He's not in trouble for causing a recession cause he hasn't. The statement in the article is debatable even if you want to use a technical definition. Real GDI, which is supposed to be the same thing as real GDP, hasn't decreased: https://fred.stlouisfed.org/series/A261RX1Q020SBEA Which suggests dips in GDP are actually due to measuring it incorrectly since the economy is so unusual right now. Also, people dislike in…
He "hasn't" only because they (many economists and reporters) abandoned the de facto/practical definition which had been used in previous Recessions in favor of a more strict definition to define it away, or rather postpone the inevitable.
They have been reporting about high gas prices, which people care a lot more about than GDP/GDI.