GDP growth at 2.6%, Annua... you dont know that is. Take my word for it.

[BigBucnNole]

https://www.cnn.com/2022/10/27/economy/us-gdp-third-quarter-initial/index.html

Good or bad? Discuss.

 

[ChicagoFats]

So bad for a long time but good for a short time.

Kind of like Gas prices going up $3 / gallon but coming back fdown $1 / gallon. They are still up $2 gallon.

Inflation is the #1 concern for Americans at this moment. Sleepy Joe needs to show the people that he is concerned about their rapidly rising grocery and energy bills.

 

[BigBucnNole]

So bad for a long time but good for a short time.

Kind of like Gas prices going up $3 / gallon but coming back fdown $1 / gallon. They are still up $2 gallon.

Inflation is the #1 concern for Americans at this moment. Sleepy Joe needs to show the people that he is concerned about their rapidly rising grocery and energy bills.

When was it bad?

 

[ChicagoFats]

When was it bad?

The first half of the year. The headline says that it "bounced back". Maybe it bounced back from being good?

It wasn't necessarily terrible, i agree. But the headline uses bounced back so that doesn't exactly exude a good connotation.

 

[BigBucnNole]

The first half of the year. The headline says that it "bounced back". Maybe it bounced back from being good?

It wasn't necessarily terrible, i agree. But the headline uses bounced back so that doesn't exactly exude a good connotation.

You know why GDP was negative?

 

[BurntJ]

Well…..call me crazy BUT I will wait for *Corrected figures to come out. Before I start to celebrate!


Now who wants to bet that they come back and adjust this number downward? @FatBucdCuckedNole ?

 

[BigBucnNole]

Well…..call me crazy BUT I will wait for *Corrected figures to come out. Before I start to celebrate!


Now who wants to bet that they come back and adjust this number downward? @FatBucdCuckedNole ?

Why they adjusting it down?

 

[Rube Reaper]

The Biden economy is roaring!

 

[ChicagoFats]

You know why GDP was negative?

Because we produced less gross domestic product?

 

[BurntJ]

Why they adjusting it down?

For the same reason the reported low on it and unemployment under Trump........

Only to "REVISE" those number later (each time)..... BUT YOU ALREADY KNEW THAT.

But to answer yore STUPID/FAKE question, b/c all the market people go crazy on the exact day of release......

Its literally FAKE NEWS 101.....put it out for the immediate RABBLE RABBLE RABBLE (in this case trying to spin things are better than they are before the FAKE ELECTIONS) and to push an agenda.

So are you pretending to be an economist/markets guy today?

 

[BigBucnNole]

Because we produced less gross domestic product?

What is a gross domestic product?

 

[champsballs]

What is a gross domestic product?

My big dirty American dick inside your mothers mouth.
That is a gross domestic product bitch

 

[hmt5000]

Be curious where the revision comes. Hard to believe the economy did better this quarter than the last 2. I guess maybe oil and gas exports might of bumped us up.

 

[sanction]

The Elites decided to destroy America.

They cheated and installed Simple Jack Joe as President.

Your economic prowess is as useful as a turd in a punch
bowl in determining what may or may not happen.

You are a victim whether you realize it or not. Your elementary economic trolling attempts are comical.

Just try to be normal. I know your ego will have a difficult
time with that vision but try.

 

[BigBucnNole]

My big dirty American dick inside your mothers mouth.
That is a gross domestic product bitch

Ahh yes, about what I'd expect from the low information block.

 

[BigBucnNole]

Be curious where the revision comes. Hard to believe the economy did better this quarter than the last 2. I guess maybe oil and gas exports might of bumped us up.

Because you follow it ever so closely?

 

[hmt5000]

Because you follow it ever so closely?

Probably not ever so.... but I follow it. I'm not as smart as you. Hell. I thought inflation would continue to be problem through the fall and winter and into next year. You thought it was transitory and you definitely hit that.

 

[BigBucnNole]

Probably not ever so.... but I follow it. I'm not as smart as you. Hell. I thought inflation would continue to be problem through the fall and winter and into next year. You thought it was transitory and you definitely hit that.

How do you not think it is transitory? You one of these tards that think 8% yoy is permanent?

 

[Mr.Fitzwell]

Ass born shit fart! Go away! Faggit!

 

[ChicagoFats]

How do you not think it is transitory? You one of these tards that think 8% yoy is permanent?

Transitory, when the fed first referred to it, was 3-4 months and when inflation was 4%. A year later and inflation doubled to an 8% rate.

So while it may not be permanent, its been here a lot longer than almost anyone anticipated. Its decimating personal savings and its decimating the lower class with increased food and energy bills. The democrats seem oblivious to this as they proposed spending another $1.8 trillion that was only blocked by one democratic senator. Joe Biden is giving away more money through handouts on student loans (or at least trying to).

This is why you will see the red wave in less than two weeks. If democrats had shown the slightest amount of concern they probably could have held onto the senate. But they didn't and they won't.

 

[ChicagoFats]

What is a gross domestic product?

Its the total value of product produced by the United States.

Cant tell if you are trolling or trying to have a real conversation. I am one of the few people on here that will try to give you a real conversation.

 

[Viking]

If inflation is only 8% then I'm the pope.

 

[Rube Reaper]

If inflation is only 8% then I'm the pope.

It’s significantly less than 8%.

These ghouls are pumping up the numbers to hurt President Biden. Can’t have the most successful president of all time being a Democrat or getting a 2nd term.

 

[weaponoffreedom]

Ahh yes, about what I'd expect from the low information block.

Which you and @Rube Reaper are on, and speaking with just saying

 

[Rebarcock.]

https://www.cnn.com/2022/10/27/economy/us-gdp-third-quarter-initial/index.html

Good or bad? Discuss.

.001

 

[hmt5000]

How do you not think it is transitory? You one of these tards that think 8% yoy is permanent?

Oh boy. You went to an expensive school and probably even spent more than 4 years didn't you?

 

[hmt5000]

https://www.cbsnews.com/news/credit-card-interest-rates-debt-inflation/

Searing inflation is driving Americans to make more purchases on their credit cards, leading leading them to amass more debt that is becoming costlier as the Federal Reserve hikes interest rates.

Early in the pandemic, many families had more cash on hand as they cut their spending on things like dining out and as the federal government rolled out a range of financial assistance programs, such as stimulus checks. That helped them pay off billions in credit card debt.


As of the second quarter, Americans owed $887 billion in credit card debt, up 13% from the year-ago period. Nearly six in 10 Americans who earn less than $50,000 a year carry a credit card balance from month to month, according to CreditCards.com.

"The Fed's decision to raise interest rates is going to continue to impact people with credit card debt because that means their interest rates are rising and they owe more as a result," Bhattarai said.

 

[BigBucnNole]

https://www.cbsnews.com/news/credit-card-interest-rates-debt-inflation/

Searing inflation is driving Americans to make more purchases on their credit cards, leading leading them to amass more debt that is becoming costlier as the Federal Reserve hikes interest rates.

Early in the pandemic, many families had more cash on hand as they cut their spending on things like dining out and as the federal government rolled out a range of financial assistance programs, such as stimulus checks. That helped them pay off billions in credit card debt.


As of the second quarter, Americans owed $887 billion in credit card debt, up 13% from the year-ago period. Nearly six in 10 Americans who earn less than $50,000 a year carry a credit card balance from month to month, according to CreditCards.com.

"The Fed's decision to raise interest rates is going to continue to impact people with credit card debt because that means their interest rates are rising and they owe more as a result," Bhattarai said.

lol @ CBS

Here's the actual growth in credit card debt:



Looks terrifying.

 

[hmt5000]

lol @ CBS

I know. Just pointing out cc debt going up since early this year. That might be problem in the future with rates going higher... or not.

 

[BigBucnNole]

Household debt as a percent of disposable income... looks terrifying




annual snapshot, again terrifying...

 

[hmt5000]

Household debt as a percent of disposable income... looks terrifying

View attachment 145769


annual snapshot, again terrifying...

View attachment 145771

Good thing rates aren't going up on that debt. Also good that disposable income isn't getting beat worse than Ike beat Tina.

 

[BigBucnNole]

Good thing rates aren't going up on that debt. Also good that disposable income isn't getting beat worse than Ike beat Tina.

Have a CBS link or nah?

 

[hmt5000]

Have a CBS link or nah?

View attachment 145785

I got a cnn link that says household debt rose to it's highest level in 2021 since 2007... We know how 2008 turned out with a little inflation. And that goes to 2021.... You may have not noticed but the inflation has cut into savings and disposable income this year. You aren't one of those rich dudes that doesn't realize everyone doesn't have a 6 figure income right? I mean... Median income is like $60000 or something. $4 gas, 8% mortgage rates and 8%+ inflation on everything hurts those people... median speaking.

I'm obviously not a keynesian. I look at this chart and see bad chit happening. I look at that chart and correlate that to the inflation we are seeing and I see bad stuff continuing to happen. $55 billion more to Ukraine though. Maybe we'll nuke ourselves before we find out if you can print too much money?

 

[BigBucnNole]

I got a cnn link that says household debt rose to it's highest level in 2021 since 2007...

That would be a lie?




I don't know wat the rest of your nonsense post says outside of not having a clue for basic economics.

Do you have even a most rudimentary idea of how 2008 happened????

 

[hmt5000]

That would be a lie?

View attachment 145788


I don't know wat the rest of your nonsense post says outside of not having a clue for basic economics.

Do you have even a most rudimentary idea of how 2008 happened????

Nope. You're just wayyyy smarter than me. The economy is doing awesome. Inflation is barely up. Interest rates and national debt don't matter. Lets all buy more stocks and smoke a cigar.

 

[BigBucnNole]

Nope. You're just wayyyy smarter than me. The economy is doing awesome. Inflation is barely up. Interest rates and national debt don't matter. Lets all buy more stocks and smoke a cigar.

You got nothing? Why's it bad? Everything you've said shows to be wrong. Seems a case of when "doing your own research" goes wrong.

 

[BigBucnNole]

Which you and @Rube Reaper are on, and speaking with just saying

Shut your fucking commie mouth. This forum is for Americans you pinko bastard.

 

[hmt5000]

You got nothing? Why's it bad? Everything you've said shows to be wrong. Seems a case of when "doing your own research" goes wrong.

I agree. I am probably incapable of understanding how inflation could affect 2/3rds of the country. I'll just monitor this thread going forward for more wisdom.

 

[BigBucnNole]

I agree. I am probably incapable of understanding how inflation could affect 2/3rds of the country. I'll just monitor this thread going forward for more wisdom.

Probably for the best.

 

[hmt5000]

Probably for the best.

Last question though. Did you post that because the bear market is done and the bulls are running and we are back to good?