Quote:Total nonfarm payroll employment increased by 263,000 in November, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing.

Manufacturing employment continued to trend up in November (+14,000). Job growth has averaged 34,000 per month thus far this year, little different from the 2021 average of 30,000 per month.

https://www.bls.gov/news.release/empsit.nr0.htm

So lucky we've had a gridlocked Senate.

(12-02-2022 09:01 AM)Bronco14 Wrote:  So lucky we've had a gridlocked Senate.

Expect the Fed to continue to increase rates bigly.

(12-02-2022 10:22 AM)WalkThePlank Wrote:  Expect the Fed to continue to increase rates bigly.

Quote:Nov 30 (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the United States remains chronically short of workers.

In an hour-long session of prepared remarks and questions at the Brookings Institution think tank - his last scheduled appearance before the central bank's next meeting in two weeks - Powell gave a short-term message that sent markets soaring: The Fed was "slowing down" from the breakneck pace of three-quarter percentage point rate hikes that have prevailed since June, and would feel the way towards the peak interest rate needed to slow inflation to the Fed's 2% target

Fed's Powell: Rate hikes to slow, but adjustment just beginning

(12-02-2022 10:33 AM)Redwingtom Wrote:  

(12-02-2022 10:22 AM)WalkThePlank Wrote:  Expect the Fed to continue to increase rates bigly.

Quote:Nov 30 (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the United States remains chronically short of workers.

In an hour-long session of prepared remarks and questions at the Brookings Institution think tank - his last scheduled appearance before the central bank's next meeting in two weeks - Powell gave a short-term message that sent markets soaring: The Fed was "slowing down" from the breakneck pace of three-quarter percentage point rate hikes that have prevailed since June, and would feel the way towards the peak interest rate needed to slow inflation to the Fed's 2% target

Fed's Powell: Rate hikes to slow, but adjustment just beginning

He's pivoted before. I don't take him at his word.

The goverment official told me that things were doing better and that unemployment was at 3.7%, so it must be true!

What's even funnier, is that if the person in the WH had an R behind his name, they'd be telling us how bad things were and it was because of poor leadership.

And, these dudes will guzzle it down like sweet nectar.

Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

(12-02-2022 10:56 AM)Eagleaidaholic Wrote:  Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

The longer it takes for inflation to get down to 2-3% annualized, the poorer everyone gets.

(12-02-2022 10:56 AM)Eagleaidaholic Wrote:  Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

Yep, a recession is 1000 times better than runaway inflation.

(12-02-2022 11:12 AM)RuckleSt Wrote:  

(12-02-2022 10:56 AM)Eagleaidaholic Wrote:  Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

Yep, a recession is 1000 times better than runaway inflation.

Ask Venezuela.

(12-02-2022 11:35 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:12 AM)RuckleSt Wrote:  

(12-02-2022 10:56 AM)Eagleaidaholic Wrote:  Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

Yep, a recession is 1000 times better than runaway inflation.

Ask Venezuela.

Exactly, or Hungary, Zimbabwe, Yugoslavia, etc.

(12-02-2022 11:37 AM)RuckleSt Wrote:  

(12-02-2022 11:35 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:12 AM)RuckleSt Wrote:  

(12-02-2022 10:56 AM)Eagleaidaholic Wrote:  Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

Yep, a recession is 1000 times better than runaway inflation.

Ask Venezuela.

Exactly, or Hungary, Zimbabwe, Yugoslavia, etc.

We are very near where Yugoslavia was in 1990. Been saying it for over a year now.

Tis easier for the Unemployment Rate to stay low when the number of people leaving the rolls of those "looking for jobs" decreases..... and it ain't people retiring.

Linky

(12-02-2022 11:39 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:37 AM)RuckleSt Wrote:  

(12-02-2022 11:35 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:12 AM)RuckleSt Wrote:  

(12-02-2022 10:56 AM)Eagleaidaholic Wrote:  Lefties don't realize the FED is TRYING to put us in a Recession, but all he hears is how things aren't that bad, so citizens keep spending and adding debt. We live in Back Assward land. Look for another .50 rate increase in a couple weeks. Bankruptcies will be through the roof starting next Spring.

Yep, a recession is 1000 times better than runaway inflation.

Ask Venezuela.

Exactly, or Hungary, Zimbabwe, Yugoslavia, etc.

We are very near where Yugoslavia was in 1990. Been saying it for over a year now.

For those of us that didn't follow Eastern European economics in the early 90s', where was Yugoslavia in 1990?

(12-02-2022 01:02 PM)oruvoice Wrote:  

(12-02-2022 11:39 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:37 AM)RuckleSt Wrote:  

(12-02-2022 11:35 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:12 AM)RuckleSt Wrote:  Yep, a recession is 1000 times better than runaway inflation.

Ask Venezuela.

Exactly, or Hungary, Zimbabwe, Yugoslavia, etc.

We are very near where Yugoslavia was in 1990. Been saying it for over a year now.

For those of us that didn't follow Eastern European economics in the early 90s', where was Yugoslavia in 1990?

hyperinflation/civil war leading to the break-up into six countries ... something along those lines...

(12-02-2022 01:02 PM)oruvoice Wrote:  

(12-02-2022 11:39 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:37 AM)RuckleSt Wrote:  

(12-02-2022 11:35 AM)Eagleaidaholic Wrote:  

(12-02-2022 11:12 AM)RuckleSt Wrote:  Yep, a recession is 1000 times better than runaway inflation.

Ask Venezuela.

Exactly, or Hungary, Zimbabwe, Yugoslavia, etc.

We are very near where Yugoslavia was in 1990. Been saying it for over a year now.

For those of us that didn't follow Eastern European economics in the early 90s', where was Yugoslavia in 1990?

At the peak of inflation, they had a 65% daily inflation rate with prices doubling every 34 hours. If you don't have money in physical assets with that kind of inflation an entire life savings could be wiped out in a month.

And government was pitting "classes" and groups against each other.

(12-02-2022 01:42 PM)Eagleaidaholic Wrote:  And government was pitting "classes" and groups against each other.

Does sound similar...