What does everyone think of the US's current economic situation?

[love_conquers_lust]

Feds have hiked up interest rates on money lending and they are deflating the money supply, something we haven't done in over 3/4 of a century.

People are overworked and burnt out. Do you think this is a well deserved reprieve for some workers?

What about holdovers? Everyone generally knows who their best producers are. Is it fair for the wages of the lowest performers to stay the same as purchasing power goes up?

Will this descend into stagflation as people hoard money waiting for the Feds to stop decreasing the money supply? It's a gamble for sure.

Make it more interesting, we have major presidential election coming up. Are these moves helpful or harmful to the next president?

[SeymourBill420]

The Federal Reserve has been deflating the US money supply since the day they took control of the nation's money supply back in 1914. If you look up the buying power of the US dollar in the US history, and you will see in 1914 when the Federal Reserve took over control the nation's money supply, the buying power of the US dollar went from $2.04 to about 4 cents as of today. So they basically means in 1914 a dollar is worth $2.04 of buying power. We're today it's only worth about four cents of buying power. So, the Federal Reserve has been doing this ever since they took control of the nation's money supply. And that's been the biggest and hugest problem in our history that nobody wants to pay attention to. Which is why in 2008, I voted for Ron Paul who wanted to end the Federal Reserve. The last president that tried to end the Federal reserve, kennedy. Well we all know what happened to him. And the last guy to try to do something about the federal reserve, Andrew jackson, had an assassination attempt on his life in 1824. Luckily in 1824, the Assassin's guns jammed cuz they were derringers, and those pistols were known for jamming. And that's what happened on the day that Andrew Jackson was attempted to be assassinated. The last person to kind of talk about wanting to do something about the Federal Reserve was Ronald reagan. And he had an assassination attempt on his life. He talked about wanting to return to the gold standard. And, he got warrant and then he changed his attitude. So, I think we're a little doomed on the topic because nobody's got the balls. And, they don't got the balls because the Secret Service is in on it. And you can tell that when President Kennedy was assassinated. First time in history when the Secret Service was ordered to stand down while protecting the president.

[love_conquers_lust]

They have not been deflating the money supply since they took control. That is patently false.

www.longtermtrends.net/.../

[SeymourBill420]

No, it's not patently falls, just Google the buying power of the US dollar since 1900. And then look at the graph. You'll get the idea when you look at the graph. But, the Federal Reserve has definitely been devaluing the dollar ever since. And then 1975 we were taking off Bretton woods, and then the gold standard in 1934. And that worsened everything. Trust me, I've been paying attention and economics for over 20 years.

[love_conquers_lust]

"... definitely been devaluing the dollar ever since". This is not deflation. That is INflation.

I just gave you a trend that shows you they've predominantly inflated the money supply. God damn, this is why blue collars make for shit managers.

[SeymourBill420]

But I'm talking about removing buying power. Taking the worth out of your money. That's buying power that's what I'm talking about. I'm talking about buying power. Kind of very similar to how you went to the grocery store in 1957 with $20, and then you walked out of there with seven sacks of groceries, versus in 2023, you go to the store with $20, you're lucky to walk out of there with two items. Or, how in 1957, gasoline cost $0.10 a gallon. And now it costs $4 a gallon or so. This is what I'm talking about. The buying power of your dollar, forcing you to use more dollars to Tender your transaction. That's what I meant about deflating. I wasn't talking about inflation and deflation as far as Keynesian economics. I don't subscribe to the school of Keynesian economics. I subscribe more to the Austrian School of economics.

[love_conquers_lust]

@SeymourBill420 Yes, buying power. That's what inflation and deflation are about. It's referred to as purchasing power. There's also a concept of the velocity of money.

Deflating the money supply lowers the price of everything. But it also causes economies to shrink because people start hoarding cash. Causing too much monetary inflation causes people to overspend and the value of things drop off because people buy shit they don't need or want, also, eventually shrinking the economy.

The Feds primary job is too keep the money expanding at the same rate our Real GDP grows so prices stay the same. It's not an easy thing to do. I live outside St. Louis near one of the Federsl Reserves. They got all kinds of social issues just down the street from their building.

[goaded]

"we do have good economic news. But, the media doesn't want to cover it. [Biden] is correct on that. He shouldn't just say, you're looking at the wrong thing. They need to communicate this better.

But we've got revised third quarter GDP growth up to 4.9 percent. Unheard of. Consumer confidence went up to 14 percent. Largest jump in a decade. Inflation is running at an annualized rate below Powell's target, which is why he's talking about a rate cut. Personal income is up. Grocery and energy prices down last month.

And the Quinnipiac poll, this part of it is really important. They did a forward looking question. What you think 2024 is going to be like, 48 percent said the economy is going to be better, and 62 percent think that they are going to be better off in the next year. When is the election? November 2024. Democrats make your case. There is a case to be made."

Fox News' The Five December 26, 2023

[love_conquers_lust]

Democrats pushed racism and encouraged women to objectify themselves fucking me over. To be fair, so did many Republicans. You're both weak to me and you both piss me off. It's you who should be asking for my approval.

[goaded]

Did you answer the wrong thread? Still, it cuts direct to what you believe.

[Cute_potato01]

It's f up. They know the problem just hard to implement the solution

[NathanDavis]

the "macro" economy of the entire country... it's not exactly the "micro" economy of my region...

and not really that much of an influence on my "individual" finances, so... I don't really see their fleeting and always changing economic stats as my situation, nope...

nor the political propaganda about it

[love_conquers_lust]

Social stratification is like a hanging chain. When the top wiggles just a bit, the bottom can shake violently.

[NathanDavis]

that sounds just like a politician would read on camera... from a script they were given

or, those who are trying to sell me crypto... which of course, I never buy... lol

[love_conquers_lust]

Before I quit my first engineering job about a decade ago, I felt the same way about politics. Thank you for the reminder.

[NathanDavis]

I found out about it around age 6... NAFTA...

[Anonymous]

Got to pay for biden's wars