The U.S. Dept of Labor has released the unemployment claim data [DATA HERE], and the results show claims of 286,000 last week: an increase of 55,000 from prior week and the third consecutive week of increased claims.
As we have continued to point out from data, in part due to the vaccine mandate, and in part due to the underlying economic issues created by the Biden administration, the working class economy has bifurcated and cleaved. The trendline is negative.
Ask yourself, where are these current claimants going to gain future jobs when the inflationary pressure is contracting consumer demand?
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market.
Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October, the Labor Department reported Thursday. The four-week average of claims, which smooths out weekly volatility, rose by 20,000 to 231,000, highest since late November.
A surge in COVID-19 cases has set back what had been a strong comeback from last year’s short but devastating coronavirus recession. Jobless claims, a proxy for layoffs, had fallen mostly steadily for about a year and late last year dipped below the pre-pandemic average of around 220,000 a week.
Altogether, 1.6 million people were collecting jobless aid the week that ended Jan. 8.
Companies are hanging on to workers they have at a time when it’s difficult to find replacements. Employers posted 10.6 million job openings in November, the fifth-highest monthly total in records going back to 2000. (read more)
The highest insured unemployment rates in the week ending January 1 were in Alaska (3.1), Minnesota (2.8), Kentucky (2.7), New Jersey (2.6), New York (2.6), Rhode Island (2.5), California (2.4), Connecticut (2.4), Massachusetts (2.3), and Oregon (2.3).
The largest increases in initial claims for the week ending January 8 were in California (+11,295), New York (+10,639), Texas (+10,437), Kentucky (+8,476), and Missouri (+7,768).
While there is still inflationary pressure to jump jobs in order to capture higher wages in many sectors of the economy, the manufacturing sector is becoming more unstable. I believe demand is contracting. Remember, productivity in the third quarter (June, July, August) was -5.2%.
PRIOR WARNING – The value of all products and services generated in the third quarter increased by 1.8 percent. However, the labor cost of generating that small amount of added value increased by 7.4 percent. The difference between those two numbers is a drop in productivity of 5.2% over the entire quarter.
This was the largest quarterly drop in productivity since 1960 !
The Biden administration will blame the drop in productivity on a lack of material to produce the end product (ie. the COVID excuse). Which means employed people were sitting around waiting for goods to arrive and being less productive. There is a small amount of that which might be true. However, it is not the biggest factor, at least not on this scale. Keep in mind we are talking about both goods and services.
The more likely cause of such a massive decline in productivity is a genuine decline in demand. In the aggregate, consumers needed less goods and services. This likelihood aligns with the diminished and softened retail sales figures recently noted. It is a simple cause and effect. When gasoline, energy, and essential products like food cost more, consumers have less money for other stuff. Demand for the non-essential products drop.
As the demand drops, the productivity of the economic activity to generate those goods and services also drops. However, the scale of the decline is the part to pay attention to. A five percent drop in productivity is huge for a single quarter. Under normal circumstances, this means more slack in the labor market, and that is what we saw recently in the retail sector of the employment figures from November {data here}.
During the month when retailers are customarily ramping up their employment to cope with increases in consumer demand, last month that didn’t happen. The ‘retail sector‘ lost 20,000 jobs in November. Think about that.
At the time of the November jobs report, the “national economists” were trying to figure out why the employment report missed expectations by 300,000+ jobs. We were not so surprised, because the actual result aligned with other data suggesting the Q3 economy overall was contracting. Consumers are being squeezed by inflation, that is creating a stagnant economy or “stagflation.”
Wage growth is currently at 3.9% {data}, and when combined with the loss in productivity, the unit labor costs for businesses at a macro level means a total cost of +9.6 percent in the third quarter. If employers do not start reducing their payroll costs as demand contracts, each unit produced will cost more money. Unfortunately, that dynamic adds to inflation, and we grease the skids on this downward spiral.
I have not seen any financial pundits concerned about where this cycle naturally ends. Perhaps the media silence is because the White House knew the Q3 productivity data was alarming, and that stirred the administration to contact those pundits in advance in an effort to avoid widespread notice.
Regardless of reason for their avoidance, a drop in productivity of such a scale tells us to complete our economic preparations as soon as possible. The intensity of the inflation storm worsens with a weak employment outlook.
THAT warning was in early December. We are now settling down from the holiday data skews. Now look where we are.
Folks, we are in the center of an economic mess of FUBAR proportions. All prices are rising, the supply chain is a tenuous mess and getting worse, supplies of critical goods are now shrinking, wage increases are insignificant when compared to inflation, and the Federal Reserve is about to start raising interest rates…. it’s the perfect storm.
From the best under PDJT and MAGA, to the worst after a election treason steal to implement a anti-american Globalist dementia corpse
It is a stark comparision between Dems and Pubs on the economy.
I think this stark contrast is necessary for a lot of independents and blue dog dem voters to see that the new Democrat party is socialist/commie and has left them behind.
Hopefully this leads to big gains in state and local elections for R’s (yes even Rino’s). I’ll take a Rino over a Dem even though I’d much prefer every place have a majority of MAGA minded in control.
Look at Youngkin in VA, a lot here said he’s nothing but a Rino but he hasn’t disappointed.
This economy sucks but so did the 1920’s and 1970’s under Carter. We will overcome it someway. The problem for Biden is we’re starting to move away from Covid and he’s making it worse. Trump was able to keep it a float despite having his economy ran off the road. People can see and feel the difference.
The polls need to be so lopsided they cannot cheat.
As long as there’s no enforcement against election fraud, and so far that appears to be the case, there’s no disincentive to cheat, no penalty for cheating, so whoever cheats the most and the best wins.
Conservatives tend to be more high road moral types so have little practice, lots of inhibitions and, as is, the Communist court system stacked against them, so I predict them to be the losers in an all-hands cheating environment.
Wish there were some clear and simple solutions 🙁
Not a fan of the current Republican representatives, but art least they support oil and gas production, the life blood of freedom.
Uh, no, Dee.
A stark comparison between Dems and a brilliant, America First, President and his wolverine team.
The ‘Pubs’ had their chance under Bush, Jr. and we got nothing resembling a MAGA agenda.
Not only that, they say back and allowed this mess to happen.
They didn’t sit back, they participated in allowing this to happen. Remember, it was McConnell that threw the Georgia senate election and gave it to the dems.
RIGHT
America first versus America last
not Dems vs Pubs
The amazing thing is if you go to a left leaning thread they will observe and use the same information then say it was caused by the conservative policies. It is crazy how people can look at the same trends and attribute blame to “the other team”. Literally two different movies on the same screen.
Maybe one has to get the correct colored, polarized, filtered glasses?. What the correct type of glasses are? Have no idea.
That or they are smoking or eating something and they are not sharing.
Dems are here. —GOP is here. ————Success and Trump are way over here.
The GOP will not deliver an economy like we had in 2019 under any circumstances without abandoning their payoffs. They are bought, paid for and will improve the economy just enough to stop the bleeding, for now. But don’t make the mistake of thinking any real about face happens. They are not who the advertise. McCarthy and McConnell will sell out like they always have. Failure theater is their forte.
We need that magic wand again.
Pray
This is only going to get worse … a LOT worse. As the basics in life become more and more UNaffordable … there will be fewer and fewer discretionary dollars to spend … hence … more layoffs. More misery. More government dependence. It’s almost as if this is … the plan.
This is the plan reduce the middle class into a state of poverty institute Federal subsides which will require compliance to include “vaccines”.
Starve them into submission, lay siege to the resistance cut off accessibility to food, etc etc
Setting up a small farm in Texas. Being able to feed myself is essential.
A feature, not a flaw.
Sacramento, uber Blue capitol of California, is changing.
People are seeing what’s going on, and talking openly about it.
Gas station grocery lines, and other places.
Red cell members are getting a voice in public and not getting shot down.
Encouraging.
It is. Give it a few years and most Americans will not own a house or car or any other durable good. They will rent/lease everything and have very little with no ability to accumulate wealth or pass on generational wealth.
That’s endgame – the serfs in the middle class got too uppity with their taking vacations where the rich like to go, and building resource intensive McMansions, etc.
Leftwing SCIENCE is strangely silent when it comes to economics. I wonder why.
Where is the “overwhelming consensus” of credentialed economic scientists that can predict the utopia of socialism.
Mike Tyson said “everyone has a plan until they are punched in the face”. All leftists have their plans and facts keep punching them in the face but those plans never change. In politics like in boxing, the opposition must be fought head on without pulling punches.
And all we have is the GOP.
The world of economics has been engulfed by the same infection that has rifled every other profession, institution, large corporation and agency. Modern Monetary Theory (MMT) is the new concept driving economics. MMT allows for unbridled money creation and spending. It’s of course, a socialist tool that fundamentally transforms debt and government spending.
Exactly! That’s why they don’t link taxes or taxpayers (voters) to out of control spending, deficits or debt etc.
“ Ask yourself, where are these current claimants going to gain future jobs, when the inflationary pressure is contracting consumer demand?”
Exactly!
I have been drilling this into my 22 year old son’s head for the last year.
He wisely just took a temporary pay cut in order to secure his position into the future.
Good move, secure your future and keep looking for or create better opportunities.
Only the jabbed need apply, unfortunately.
At the other end of the job market now but having been in the son’s position during the Carter administration, TBH, work was easy to secure and paid pretty darned well for someone with minimal skills. In fact, I paid my way through college working as a summer carpenter making ten bucks an hour. Full time work was no problem. Main negative was interest rates were super high making it tough to buy a house on that wage but I eventually did.
Anyway, at the other end, and having been a business owner for a number of decades, I don’t see any ‘security’ in the current matrix unless it’s working directly for the government or a fascist corporation that’s in bed with them. My father made that bargain with the devil in the 40’s and I vowed I’d never follow in his footsteps after seeing what it did to him. No thanks.
Good news is U6 isn’t scary high, yet, not like back in 2012, of course presuming the books aren’t being cooked. I remember the people stopping by the shop begging for work back then. I had none to give, it was hard enough keeping the doors open. We know who’s responsible for this; what remains is what we’re going to do about it. It’s time.
More historic numbers for Old Yeller.
I knew from day one of his ill gotten administration the democrats wouldn’t dissapoint.
In a related story, Biden’s claims that he is mentally competent have also increased…
I’m not sure why, but for some reason I keep getting put into comment purgatory.
Please read Sundance’s post from yesterday. EVERYONE is having to wait for their comments to post. 🙁
👍
Trudeau and Biden have the same master.
Devastating inflation is hitting us. Most media outlets are starting to sound the alarm over shortages and inflation. Trudeau continues to spend because he receives much higher taxation revenues from inflation.
Quite frankly, I actually don’t care that store shelves are empty. The libs that wanted this can eat their cake.
DD
Except for single moms, elderly, disabled, who can’t buy in bulk or buy ahead. This is an enormous tragedy for millions of people. So, I do care that the shelves are bare.
Here in Tennessee, besides a church on every corner, there’s such a thing as a “Blessing Box” in various neighborhoods. People who have food and supplies to share, put it in the box, and people who need it, take it from the box. I hope we all can do our part for the less fortunate. Let’s prove to the evil government that we can and do take care of our own.
well that kinda hurts alot of us who did the right things, saved did not over spend, now relying on ss. and savings that since 2008 have been kept in the small gain margin unless you took risks. We are getting taken and nothing we can do about it regardless if we like Pres. Trump or the dofus that currently pretends to be president. I do not feel any more smug because I did not back fjb, I am still screwed.
Paintbrush, your reply to Dan Dale stood out to me. We are probably near the same age. I have been through something similar with the peanut farmer. Militarily a sierra sierra, incompetence. Economics was a disaster for the country. There is, however, always a silver lining. He legalized home brewing!
Here we are again with a similar sierra sierra. Only can offer my advice. Shop Goodwill and Salvation army stores. They are woke but we need stuff. Dollar(+.25) Stores has some good food finds and hygiene stuff. If you have an Aldi’s close by or similar type of store you can stretch the food budget. Home heating, depending on your local, have grants and help for seniors. Same with home taxes or rents. Medical expenses can be negotiated to $10 or so per month for the rest of your life. Several have verified this to me. Savings can be invested into Govt. Treasury Inflation Protected Securities (TIPS).
Not all of the above will be applicable to you, but the bottom line is to be a survivor. There is nothing they can do to me that I will not struggle to the last gasp for my family and my country.
Same master = World Economic Council
Jobs exist, maybe not in someone’s particular field but it’s work for money and quite possibly benefits. For many sitting on the couch collecting government money is a better option.
In Florida you can starve on UI benefits. The most any unemployed worker can obtain is $275 per week. I earned more than that working at Tractor Supply part time (~30 hours a week at $11/hr) in the summer of 2020. Nobody is getting $600 a week from Uncle Sugar anymore. They aren’t getting any federal UI at all (the max they could get was $275 a week and only when they exhausted state UI or didn’t qualify for it). That ended September 04, 2021 in Florida.
If they have a house/car/savings, they can kiss welfare goodbye as well.
A few years ago, I read an article that also contained a list of what a welfare recipient could expect from each state, converted into dollars/hour. (Sorry; don’t have the link, but I think it was around 2018.)
I am proud to say my state of Idaho was #50: a welfare recipient was “earning” the equivalent of a little more than $11/hour living on state assistance. Those states at the top of the list were paying their welfare recipients the equivalent of $35+/hr (New England States, CA, etc.)
Not sure if the rankings and numbers would still be the same, but I would suspect Idaho would be at or near the bottom.
Exactly. Here in South Lousiana a job interview was conducted this past week of 6 adults. The restaurant needed all of them. Owner hired all on the spot at 15 bucks per hour. All adult people with no real skills for 15 bucks per hr. ALL declined and said they had to have his signature to continue to receive benefits. The owner plans to close restaurant soon.
Btw, all the post hurricaine work here in South Louisiana has been done by illegals out of TX but really from Honduras.
You know, if people were more God-fearing and familiar with their Bibles, they would know that able-bodied individuals refusing to work = refusing to honor God and build His kingdom here on earth. Old and New Testaments are clear when they say work honors God, for with it we create and provide for others. Refusing to work will incur punishment, if not in this life, certainly in the next.
I would never want to face my Creator and provide an answer for why I spent my days on earth sitting on a couch waiting for a government check to arrive when I was blessed with good health and able body. There is no good answer for this…..
81 million “votes” for Joe Biden. LMFAO. Cratering popularity is a myth. The polls are only catching up to the real numbers that existed on election day. It is statistically impossible for a President as “popular” as Biden was on election day to drop so drastically in just one year. The truth is that the drop is fake because the high starting point is fake. When will Arizona, Georgia, Wisconsin and Pennsylvania wake up and see the writing on the wall with the 2020 election fraud? Other states as well, but those are the big ones. Blame the Democrats as perpetrators – Yes. Blame the Republicans for still allowing the fraud to stand – Hell Yes!
Many many republicans were hoping DT would lose, and those R conspirators are largely still in office. They hated being put on the spot by DT and answering for him to the media. They gladly looked the other way when the Ds did their vote-counting thing. They all know what happened and to this day they won’t talk.
Until there is a National shaking like never seen before they will sit on their hands. The typical R is all about posturing as a quasi-religious person but without real conviction. Can you imagine our National power if we had such leadership? We don’t, not even close. I consider Ron D as close as it gets right now but he’s only one person.
“81 million
“votes”ballots for Joe Biden.” Fixed it for you 😉Thank you for saying/writing
“BALLOTS “. Would hate to believe that we have 81 million brain dead voters. Could be wrong, but I hope not.
Stolen/Fraudulent elections have consequences.
See 2008-2009 and the mortgage crisis for further details.
I run a small manufacturing company and I can verify that demand is waning. We are in the audio industry and boomed during the lock downs. But all that government money is used up and so are the big orders. It was nice while it lasted.
Now it’s time for the tough decisions. Staffed up during the upswing and now the pendulum will swing the other way. That sucks.
Price increases? Six month delays in receiving some parts? Shipping costs! It’s getting ugly.
Is it possible for your company to go mail order direct to purchaser? Then the supply chain woes are cropped out and purchaser pays the postage. If what you sell isn’t too large ?
The supply chain woes are from our suppliers to our production facility. We have an extensive dealer network that I would rather not compete against. I love our dealers. We keep them in business. They keep us in business 😉
Although 95% of our parts are sourced in the U.S. (even our chip supplier is in the USA, although the JFET’s are then sent overseas for processing), it’s that little stupid item that can’t be found locally that is the issue.
An example is a little rubber “foot” that goes on the bottom of the products. Cost about a dime each. Only sourced in China. Placed a $7,500 order…. cost $5,500 to get it here. Two years ago it would have cost $200 for shipping. If I want to stay up and running, gotta pay up. I was actually told “it is what it is”.
Not getting better. Now the company that powder coats and screen prints on the units told me this morning that they can’t get the color we need in quantity. They will only be able to process half of our units per month.
It never ends!
Seeing patterns, but not sure how to interpret what I observed the last two times I was in three different major stores (a regional grocer, Walmart, and Safeway).
Here’s what I saw on two different days this week.
Very few shoppers…but still…..
*Rapidly increasing prices (from one day to the next)
*Even though there were few shoppers, almost no checkouts manned, long waits to check out
*Significant new and larger empty areas
I found it weird to note the first alongside the next three things…..seems like there are some lagging indicators happening and I don’t know how to connect those dots.
I do think that those who haven’t been paying attention are going to start paying attention in the next few days, and then the stores are going to be flooded and emptied. That’s my sense. So I have no plan to go back anywhere for at least a week, and then it will just be to see what’s happening. I will not be paying the massively increased prices.
I’m continuing to see/learn applications for dehydrating vegetables (bulk vegetables like carrots are still reasonably priced) and vacuum sealing. Expect to be doing alot of that with this summer’s increased gardening, so am taking advantage of this time to learn things I haven’t used before.
Big Walmart parking lot was also over-filled with big rigs parked all over the place, not in the usual one long neat line. Was hoping to have a bit of conversation with a driver just to tell ’em to go for it if they wanted to – didn’thave that opportunity….
Also–entire aisles of product in Walmart are now all in locked/inaccessible cases–thousands of square feet. Everything in electronics, all products, all levels of product, including computer ink.
Baby formula in locked cabinets. Astonishing
And this is on being done on purpose and could have been avoided if the communist were not successful in stealing the election.
When a cell separates or divides one can consider this a violent moment, a ripping apart. What happens after such an event is open to discussion, but better still one should step back and observe for greater understanding .
Divorce operates in a similar fashion. A fight between two people has an ending. When a person realizes how to get “free stuff” from others (like government) and compares that value with what one could earn working, are you surprised that many citizens choose to stop working and get on the government teat?
Didn’t Biden just say he intends to give 400 million free masks out? Will you be super surprised to learn how many billions of dollars destined for Covid protections went elsewhere, for other “much needed” projects? Free money….wait a minute, the only free money I know of comes from the Government printing presses…but that is not really free, it adds to our national debt, right? Right!
National debt…who pays back that money? We citizens do, one way or the other, right? Right! Well, kids, guess what…
We are the slaves in America, expected to work off this debt our “masters” created and we went along passively because we are what? Too lazy, too stupid, too ignorant, or just playing a role hoping we can get in on this game.
Free stuff…didn’t you learn when you were a kid there is no such thing as a free lunch much less anything?
For example: Those of us who have been around for some years, say a half century (50 years) and have paid attention to our political leaders know that Joe Biden has always been a liar, a thug, a bully and a person who “sold his soul to line his family’s pockets” from the beginning. He is the kid who comes up to your car, asks what you want, then goes down the alley and retrieves the goods where he then exchanges the stuff for the money…from the ghetto to the White House, do you think this “runner” will behave differently? Then ask yourself why is it that those who get elected to office in Washington, DC, who reveal their net worth when entering public office most often leave office with greater net wealth than their respective salaries would indicate? How did they find that money machine and how have they kept it so secret?
Every time someone says “free masks” or “free vaccines” or “Free Covid tests” I correct them by stating: “They are not ‘free’. They are paid for by taxpayers.
Free to the freeloaders.
Like those free couches and mattresses left on the curb. You get what you pay for.
Free just means someone else is paying for it.
Two words: Insider. Trading.
The Xiden Administration has caused sheer panic in the general populace. When you go to the grocery store and you can’t find bread, or milk, and the shelves are looking bare, in every area people contract their spending. But, that’s part of their plan. Nothing but Communists in the White House.
Let’s never forget these people who sit in Congress lying through their teeth and bringing about the downfall of America. Show their faces to your children, name them, show their words and actions. Teach them so that they never forget either.
The cartoon is as stark and as descriptive of America today as I’ve ever seen.
Politicians from BOTH parties have to answer for this reality. It has been made very clear none of them care for their oaths, the Constitution, or the people who elected them. Pigs at the trough.
Vile parasites…all of them.
I wouldn’t insult pigs. Parasites? yes.
The Stock Market has been having large inter-day swings since I got a rather rare sell signal on the 3rd of January. These large inter-day swings, one way and then another are indications of much indecision by those who “play” the Stock Market.
The Stock Market becomes chaotic at or near major market top and major bottom cycles. What I am seeing is “normal” expected Stock Market action through-out Stock Market history. With the exception of an occasional expected and normal correction, we have been in a strong Bull Market ever since Trump’s election 2016.
It is too early to tell if we are in fact seeing the beginning of a Bear Market. At this point it sure looks like and acts like it is making a long term top formation.
I expect, and some over at zerohedge.com think the same, that the chaos is due to the PPT propping up a market in freefall to protect the Black Rocks and Vanguards.
Thank you for some insight, I do not follow the market so it is nice to see your perspective..
I don’t want to see any treepers unnecessarily get hurt. Actually I started warning once the Stock Market got above 35,000. I know people have managed accounts and it is not a simple click on a mouse button unless you are a Stock Market trader.
I got a major sell signal on January 3rd. This buy and sell indicator signal is very rare. Actually, we have been in a major Bull market since Trumps election 2016. There has been more than plenty time for treepers to protect themselves and it my hope all have protected themselves…..I don’t say the same for Libtards. I hope all Libtards lose their communist/fascist/totalitarian ass. Lol
btfd and don’t watch it every day
Unless you are making a living out of it.
Come on Man! Biden has “created” more jobs than anyone in the history of the world. Just ask him!
The reason Biden continues to lie is because there are still enough “dumb and stupid” who believe Biden’s lies. The next time you encounter a Democrat just think how “dumb and stupid” they are. I don’t care if its your spouse or kids there is no escaping “dumb and stupid”.
As the Federal Reserve is now a department of the Democrat Party like the FBI, DOJ and FDA there is no way that Powell, Yellen and Larry Fink after spending billions of dollars to get rid of President Trump are going to have the Federal Reserve raise interest rates and destroy the Biden Presidency and more than Biden is destroying it himself! LOL
‘Unemployment Claims Rise’
Where are The Silhouettes when we need them? 🙂
And the wheels continue to come off…….
We already have the flation, here comes the stag.
Living in the deep blue state that I do, the general response to Biden’s speech among the true blue committed Democrats here continues a pattern I’ve been seeing among them for several months. To wit: All of the economic problems we face today were inherited from Donald Trump’s presidency and are a direct consequence of his supposed mismanagement of the economy. As they tell it, Biden’s policies have nothing to do with what’s now happening, and that years of work will be necessary to undo what Trump did to the country. That’s their story and they are sticking to it.
When folks are out of work they may have more time to learn and share.
The linked report suggests people are figuring things out and more people every day are willing to speak up with the truth.
We win and they lose every day we keep the work going.
https://justthenews.com/politics-policy/all-things-trump/more-voters-believe-trump-was-legitimately-elected-biden-poll
Return the diamonds.
A truthful opening statement by the AP would actually read:
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level in three months as unconstitutional vaccine mandates drove tens of thousands of employees from the job market.
I will not be helping the employment situation. Too much money going to the basics (and taxes), have to cut back almost all discretionary spend, no choice. Brief shout out to the IRS who will be getting the stimulus money back this April (thanks turbo tax). This inflation is going to do serious damage.
This bodes ill for recent graduates of engineering programs for gainful employment in their fields of study.
Covid mandates, slackening demand in the economy, offshoring industries, Green New Deal regulations, etc.
nothing like launching your young life into a country going off a cliff… so sad.
#FJB
Second saddest thing: getting ready to launch yourself into a deserved retirement as the country is going over a cliff. Stay working, only to never catch up on the great steal they are doing with your lifetime of sacrifice and disciplined savings/investing via inflation?
Brief, indirect admission at the beginning of the article that Trump’s economy was strong.
looks like whisky and car keys strikes again. This is the most stubborn case of TDS I’ve ever seen.
Buy shelf-stable food while it’s available, and/or before the prices double or triple.
Joe said he has outperformed what anyone thought he could do.
Absolutely true.
Just not the way he means.
What we are seeing isn’t ‘just’ an overall decline in demand – it’s a decline in AGGREGATE demand couple with a decline in AGGREGATE supply. We learned in Macro Economics 101 that we’re talking now about impacts to GDP. We’re seeing now impact to money supply, interest rates and* next exports.
In other words, the entire aggregate demand curve has shifted down.
And every single bit of this has been caused by piss poor, already tried and failed – policy. Morons are at the helm.
The fake president’s economy is a disgraceful disaster, but believes he has outperformed. The epitome of unquestioned failure, is a pathetic joke.
Accidentally posted this in the Kamala thread. This is a good reminder of where we were before Biden screwed it all up.
Click on the list to see all of it –
The perfect storm could not have been planned better.
Health pass will be digital soon and connected to everything about your life and to your digital access to money.
Fed Releases Much-Anticipated Report On Digital Dollar
“The introduction of a CBDC would represent a highly significant innovation in American money,” says The Fed in its much-anticipated report on the possible issuance of a U.S. digital currency.
https://www.zerohedge.com/economics/fed-releases-much-anticipated-report-digital-dollar
Everyone should be using cash as much as possible. Make the digital dollar inconvenient.
You can stay on unemployment as long as you want ……….. the system is a disaster………….. stop paying taxes………..
How many of these are Afghans and or other illegals getting on the gravy train versus typical working Americans?
gracious, what a difference a year makes with installed progressive communists. Is it wrong to cut ties with Biden voters no matter relationship? It’s really been too easy for me. Thanks
Yes, it is too easy and disgusting when trying to have conversation with a Libtard. How to cut-off any conversation with a Libtard in regard to Biden. Just ask a Libtard, “Can we have a conversation about Biden without mentioning “Trump”?
Prices are way up on things other than food and energy. Cars and appliances are high while soft goods retailers are desperately discounting clothes and household products.
This doesn’t end well.
I was looking at cars yesterday and everyone of the model I was looking at was listed way above MSRP including some lower mileage used ones.
Biden has a plan for this small problem … labor camps … something to go along with his reeducation camps for all the domestic terrorists (aka parents).
FJB
Unexpectedly.
Double digit negative compounding of savings is going to keep retired folk on the sidelines. And working folks that can’t command double digit salary increases are going to have to hunker down. Don’t see how this doesn’t hit employment. Slow growth, high inflation with a $ 9 trillion FED balance sheet and a national debt of $ 30 trillion. This warrants concern.
Keep in mind that they tried to keep these numbers down by trelling people that if they don’t get vaxxed and their employer boots them, then they cannot file for unemployment, which is nothing short of discrimination.
The same kind of discrimination that banks are using against Mike Lindell. Sick basturds.
Boy does that picture hit home. The number of homeless in our area is skyrocketing under Biden. Only one is ever visibly under the influence.
Kentucky was in fourth place behind three large states. I live in Kentucky and wondered why. It seems there is a special unemployment classification for disaster areas.
“People who became unemployed as a direct result of the Dec. 10 storms, tornadoes, straight-line winds and flooding are eligible to apply. People who are self-employed whose work was interrupted by the storms can also apply, including farmers. ”
https://www.wpsdlocal6.com/news/deadline-to-file-for-disaster-unemployment-benefits-in-kentucky-extended-to-jan-28/article_c639958e-7041-11ec-9108-2f5a0dad5547.html
It is 16 counties. That is a lot of eligible people, many who are usually never eligible to draw unemployment.