Problematic Pat
Superstar
I only mentioned her name because this site might as well be DNC.com. But you're 100% correct.
Fed confronts up to 1 million jobs vanishing in updates 😂
- Thread starter CouldntBeMeTho
- Start date
desjardins
Superstar
Explains why the economy is doing "good" but so many people on the ground act like it's the worst economy in years. Only thing doing well is the stock market. Mass layoffs, hiring freezes, people working 3 gig jobs, and $5 gallons of milk
While the Public Awaited Jobs Data, Wall Street Firms Got a Look
While the Public Awaited Jobs Data, Wall Street Firms Got a Look
A report was delayed on the Bureau of Labor Statistics website, but some investors got it in the meantime, raising new questions about agency practices.
2009 eh? Uh oh.
You must not be from here if you don’t know how bad things got during those times.
If you’re in an election season with jobs and the economy as a hot topic with voters, an 880,000 job difference from the original numbers isn’t good optics.
He's canadian
Was the Real Jobs Revision Negative 818,000 or Negative 915,000?
Was the Real Jobs Revision Negative 818,000 or Negative 915,000?
I calculated -915,000. Every headline said -818,000. I finally gave up and posted 818,000 but noted a discrepancy. I believe it’s 915,000.
mishtalk.com
I was just focusing on employment, but greedflation from companies is a problem. The fact that inflation, prices, and corporate profits went up simultaneously isn't a coincidence, but it isn't a surprise either as corporate profits have been in an uptrend for 20 years with no signs of slowing down.
When we speak of inflation of the last 3-4 years, we have to understand that we were in a zero-interest rate environment between 2009 and 2017, followed by a low interest rate environment, and back to zero interest rates in 2020. Asset inflation was happening for the 11 years leading up to the pandemic. Now when we speak of pandemic inflation, the inflation actually hit the companies first before it hit consumers. So, what happens is thanks to borderline monopoly status enjoyed by many of these companies, they are able to weaponize their "pricing power" to adjust costs. In other words, to protect their margins, companies with "pricing power" started to raise their prices to account for higher business costs (shipping, materials, ingredients etc, supply disruptions). Once the Fed began to hike rates, companies then began to cut expenses (selling assets, laying off employees, etc). Some of these large corporations openly bragged about their ability to raise prices and protect their profits during quarterly conference calls (https://groundworkcollaborative.org...orporate-Profiteering-Findings-22.08.04-1.pdf)
The pandemic triggered global disruptions in supply chains and dealt a death blow to small businesses, further consolidating the power of large corporations. Stimulus checks from both Trump and Biden helped prevent a worse economic situation. If Trump and Biden did not give the stimulus checks, it would have got real ugly. As the image above shows, most of the growth in corporate profits occurred between 2020-2021. I would argue the bigger fuel was Trump's *RECKLESS* PPP and unemployment programs which were the two most fraudulent programs in modern history. This coincides with a period of increased consumer spending due to stimulus checks, coupled with the supply chain shocks. This classic case of high demand and low supply naturally lead to price hikes. So in that situation you either allow widespread hardship, or you implement price controls. Republicans call it communism if you price control, and "Bidenomics" if you give stimulus that causes inflation. If they did stimulation and price controls simultaneously, companies would have suffered in 2021 because they were still reeling from supply shocks and inflation on their costs for goods. So the focus on price gouging should be specific, like post-2022 to account for when supply chains improved as can be seen below by supplier delivery times and shipping costs returning to pre-pandemic levels
But even if we focus on post-2022, overall corporate profit growth decreased (first image above) and moderately increased since then despite layoffs and aggressive cost cutting. Consumers still feel sticker shock, because there is a bimodal distribution in the economy with respect to price gouging. Meaning some sectors have a tendency to price gouge, while others are probably priced more appropriately. It's a very nuanced discussion. But what do we want? Low rates, or high rates? Asset inflation, or deflation? Stimulus or austerity? Price controls or free markets? OP and others blame "covid policies" (fiscal stimulus), but they aren't built for the alternative and Trump's stimulus did worse (PPP/unemployment fraud). The biggest mistake many people made is flipping stimulus checks and unemployment into depreciating assets instead of going all in on appreciating assets (stocks, crypto, property, residual income streams).
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LeVraiPapi
Redemption is Coming
This happens all the time. Republicans really trying hard to find something to stick lmao
Gritsngravy
Superstar
Republicans revised the jobs?
beenz
Rap Guerilla
LeVraiPapi
Redemption is Coming
Gritsngravy
Superstar
But you the only one talking political shyt
Did republicans revise the jobs and how often does a million jobs get revised since it happens all the time according to you
It’s real shyt happening and y’all chose to sling mud on the internet thinking yall winning yall parties votes
I got a newsflash to all you political cheerleaders on here, you not adding votes trolling on the coli for either party pick a new troll tactic
and this is what you voted for
More bringing up Trump despite the fact that ive NEVER voted for him and you being complicit with racism against black people because youre dead quiet when joe and copmala are being anti black: .
. Ya actually picking between two parties doing the same shyt trying to fool somebody besides yourself.
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