In The News Today...

Quote: Evenbob

Dow Jones fell another 11% today it is down $4,340 for the year. Experts are saying a recession at this point is inevitable and it's weird because there are so many jobs out there. There are more jobs than there are people to fill them yet we're going to go into a recession. Thanks Captain Poopypants. The chicken I buy at Walmart just one up 25% and eggs went up 100%. I paid $4.49 a gallon for gas yesterday the most I've ever paid in my life. Fuel prices are destroying Uber and Lyft and the trucking industry. And the FED has not even started to screw with interest rates yet and when they do that we ain't seen nothing yet.

As long as Biden continues to make EB’s life miserable, he’s doing a heckuva job.

Quote: Evenbob

Dow Jones fell another 11% today it is down $4,340 for the year. Experts are saying a recession at this point is inevitable and it's weird because there are so many jobs out there. There are more jobs than there are people to fill them yet we're going to go into a recession. Thanks Captain Poopypants. The chicken I buy at Walmart just one up 25% and eggs went up 100%. I paid $4.49 a gallon for gas yesterday the most I've ever paid in my life. Fuel prices are destroying Uber and Lyft and the trucking industry. And the FED has not even started to screw with interest rates yet and when they do that we ain't seen nothing yet.

Market is killing me. I have heard that my old job has been laying off 20 year employees so glad I got out of there but it was so obvious. Yet I think that half the people including many supervisors did not see it. But meanwhile we otherwise have what is near full employment, but a recession coming like us like a train in a tunnel.

Orders for big trucks are down, a leading indicator.

History might show this to be the most unusual economy in 100 years. Has there ever been a labor shortage and a recession at the same time?

Quote: AZDuffman

History might show this to be the most unusual economy in 100 years. Has there ever been a labor shortage and a recession at the same time?

Normally people would spend less during a recession. But coming out of 2 years of covid with limitations on normal activity, I think cabin fever fatique is being overcome by the desire to get out more even with higher costs.

Quote: rxwine

Normally people would spend less during a recession. But coming out of 2 years of covid with limitations on normal activity, I think cabin fever fatique is being overcome by the desire to get out more even with higher costs.

Which means we should not be facing a recession. Reading the news we could be in the unusual situation where at the corporate level they are cutting back but at the consumer level not as much.

His energy policy alone is enough to cause a recession.

Then he doubled down.

Recessions tend to happen when you discourage investment and innovation by reinstating thousands of regulations previously eliminated by the prior administration and introducing more of your own, burdening corporations with an extra $201 billion in regulatory costs and 131 million hours in new annual paperwork.

Regulatory costs nearly forty times those of Trump's.

Man kept his promise to the voters.

Quote: Tanko

His energy policy alone is enough to cause a recession.
.

Presidents have very little influence over the economy.
Conservatives agree with me when the economy is doing great under a Dem President
Once it goes south, they blame the President
Pretty illogical but that's a Trumper for you

https://www.businessinsider.com/mark-esper-trump-court-martial-leader-of-bin-laden-raid-2022-5

Trump wanted to Court Martial a retired Navy Seal Officer for conduct (making verbal statements against him).

This is pretty insane.

Though an interesting legal point is of you are retired from the Military (or maintain some other connection) you can be Court Martialed (even if found not guilty of a charge in civilian court). This was famously used to charge somebody with murder several decades later when DNA evidence was available (and it was determined not to be a violation of double jeopardy) -I am blanking on the guys name- .

But, never before has a Presidnt tried to use such abilities to go after retired dissenters. This speaks to his character.

Quote: AZDuffman

Which means we should not be facing a recession. Reading the news we could be in the unusual situation where at the corporate level they are cutting back but at the consumer level not as much.

The kind of things, going out to eat, entertainment, theme parks, venues require hiring service jobs, but not necessarily production of a lot more goods.

At 12:30 p.m. Dow Jones briefly went under 31000 and it's still closed down for the day. It's going to be under 30,000 soon when the FED starts screwing with the interest rates

It'll bounce back.

Covid, supply chain shortages, Ukraine: this is the cause.