Post-Corona Economy
Post-Corona Economy
"Yeah but that's going to be good because..."
~someone
~someone
"Be bold, and mighty forces will come to your aid."
Post-Corona Economy
Good times in France.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
Inflation still hot, 10 year above 4%
0.4 annualizes to between 4.2 and 5.4%, so the pace is cooling, but not as much as people hoped.The consumer price index for the month increased 0.4% for the month, more than the 0.3% Dow Jones estimate, according to the Bureau of Labor Statistics. On a 12-month basis, so-called headline inflation was up 8.2%, off its peak around 9% in June but still hovering near the highest levels since the early 1980s.
It's not me, it's someone else.
Post-Corona Economy
Serious question.
You know how I feel about Wall St. (Believe in its purpose, but it has flaws.)
Can any part of inflation be traced to the Wall St "make more profit every quarter or watch your stock plummet" system?
Point being, while I realize the cost of making goods and/or providing services has obviously gone up as raw materials and labor increased (covid, lockdown, labor disappearing, Ukraine, etc.), but is it ridiculous to also suggest that some corporations might take advantage of the situation and raise prices a bit more than they actually need to in an effort to stave off Wall St or simply boost their stock prices?
NOT saying this is a major factor in inflation, just wondering if it's reasonable to assume it exists.
You know how I feel about Wall St. (Believe in its purpose, but it has flaws.)
Can any part of inflation be traced to the Wall St "make more profit every quarter or watch your stock plummet" system?
Point being, while I realize the cost of making goods and/or providing services has obviously gone up as raw materials and labor increased (covid, lockdown, labor disappearing, Ukraine, etc.), but is it ridiculous to also suggest that some corporations might take advantage of the situation and raise prices a bit more than they actually need to in an effort to stave off Wall St or simply boost their stock prices?
NOT saying this is a major factor in inflation, just wondering if it's reasonable to assume it exists.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
(Almost) Every company's job #1 is to make profits, and to make as high of a return on money/assets as it can. If the government throws trillions of dollars into the economy, people have more money, and there's more demand. So, OF COURSE they are going to raise prices as much as they can. But they always will. So the question is: What's different? More demand, more $$.
It's not me, it's someone else.
Post-Corona Economy
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
Conference Board LEI (leading economic indicators) gave a 68% when I checked earlier this week.
It's not me, it's someone else.
Post-Corona Economy
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
The business world told the fed not to hike rates anymore because it could make things a lot worse.
The fed responds with a .75 rate hike.
The fed responds with a .75 rate hike.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
The Fed basically said they would do this weeks ago, and would hint at re-evaluating future hikes. And that's what they've done.Leisher wrote: ↑Wed Nov 02, 2022 3:19 pm The business world told the fed not to hike rates anymore because it could make things a lot worse.
The fed responds with a .75 rate hike.
It's not me, it's someone else.
Post-Corona Economy
Let's see how the economy responds.
I'm betting I'll be house hunting again come spring.
I'm betting I'll be house hunting again come spring.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
Nevermind, turns out he added this part at the end, which spooked the markets a bit
"premature to talk about pause in rate hikes"
It's not me, it's someone else.
Post-Corona Economy
Well, things have changed. AMZN becomes the first stock to lose $1 Trillion of market capTheCatt wrote: ↑Thu Oct 29, 2020 4:05 pmWent up, went down, still $2T 3 months later. AMZN at $1.6T, and both announcing earnings today.
AMZN: (Stock up about 1% after-hours) beat big.
Earnings: $12.37 vs $7.41 per share expected, according to analysts surveyed by Refinitiv
Revenue: $96.15 billion vs $92.7 billion expected, according to analysts surveyed by Refinitiv
It's not me, it's someone else.
Post-Corona Economy
Inflation continues to ease.
USed car prices down 2.4% month over month.The consumer price index, a broad-based measure of goods and services costs, increased 0.4% for the month and 7.7% from a year ago. Respective estimates from Dow Jones were for increases of 0.6% and 7.9%.
Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, compared to respective estimates of 0.5% and 6.5%.
It's not me, it's someone else.
Post-Corona Economy
Is inflation easing, or is inflation still increasing but the rate of the increase is easing?
I could click the link but fuck that, just tell me.
I could click the link but fuck that, just tell me.
"Be bold, and mighty forces will come to your aid."
Post-Corona Economy
By definition, inflation is increasing. Otherwise it's called deflation.
It's not me, it's someone else.
Post-Corona Economy
I don't have the link, but there's a large construction company that has announced they're laying off X workers soon. The article was discussing how it was another sign that housing is about to crash.
I keep seeing Feb/March as the "this is when the housing market tanks" predictions.
I keep seeing Feb/March as the "this is when the housing market tanks" predictions.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post-Corona Economy
I was watching houses on lakes in northern Michigan. I have about 10 saved on Zillow. All of them are priced 100-130% higher than they were priced at the end of 2019, early 2020. These are houses that were $400k back then priced at $800k+ plus right now. They were on the market most of the summer. In the last month, half of them have sold at these ridiculous prices. A few of these houses were listed pre-pandemic at normal prices, but didn't sell. Some were bought just before the pandemic, and are now listed at twice the value.Leisher wrote: ↑Thu Nov 10, 2022 10:50 am I don't have the link, but there's a large construction company that has announced they're laying off X workers soon. The article was discussing how it was another sign that housing is about to crash.
I keep seeing Feb/March as the "this is when the housing market tanks" predictions.
I want to punch these people in the head for buying. Just encouraging the market to stay like this. It was almost as if everyone was in agreement all summer that we weren't going to participate in this kind of fucked up market. But then one idiot bought and a bunch of others jumped in for some irrational reason.
I REALLY hope there's another recession and housing crash. Would love to be able to pick one of these up on a short sale.
Post-Corona Economy
Wholesale inflation #s very low - 0.2%
In other economic news, the Empire State Manufacturing Survey for November registered a reading of 4.5%, much better than the estimate for a -6% reading.
It's not me, it's someone else.