I generally like the stuff Newsom says and does, like continuing to goad and troll De Santis. But the way he comes off, yeesh. Like in this clip here where he’s pouring on the folksy, I mean come on man. I guess in the nothing matters world you’ve gotta do it, but oy.
Can you get more unAmerican than “Nigel”?
I named one of my cars Nigel.
It could be worse than that for them. There are a lot of R’s with student loans. This will rustle the shit out of them too.
Sort of agree. The smarter R play would be to support legislation to give the $10K forgiveness promised but without the caps and price caps and other restrictions on WOKE colleges, but Rs dont really do policy so hopefully just catch the car.
Also just going to be a huge mess in the interim if there’s an injunction. People get whacked with real bills heading into recession and, in the best case where Dems hold onto the House and a slim Senate majority, fixing this legislatively is still difficult
Maybe. But the “conventional wisdom” that we’re definitely going to have a recession is overly confident IMO.
Brandon giving a very strong and powerful speech rn. Unfortunately the red lighting makes his skin look jaundiced
Fed isnt even pretending anymore, say they are going to raise rates until we hit a “growth recession”.
Why is Biden giving this speech from the set of “Kiss the Girls?”
Republicans have dumbed down the discourse so much that when Joe just lists off basic, positive stuff we could actually do (“high-speed internet, repaired roads and bridges, vote!”) I’m like damn that sounds amazing what a speech
More of this please, for everything he’s passed
As someone that “tunes” pump controllers on occasion, it’s a good idea to pause before throwing more change into a system and start an overshoot and giant oscillation wave.
The fed has shocked the system. It needs to pause another 2-3 months. If it cranks rates up another 1.5-2% it’s going to really fuck things up.
75 next meeting a near lock.
I’m far from convinced that this coming recession or “growth recession” is going to hit the average American any harder than they’ve already been hit. Unemployment is low, I mean shit, we have a labor shortage in several sectors/industries. I think corporate earnings are going to get squeezed by inflation and the supply chain, which should hurt the stock market. That will lead to some layoffs, I’m sure, but I don’t see why a lot of people won’t just land in the sectors that currently have labor shortages.
I think there’s a legit chance that this is contained to paper losses/stock market losses, a minimal bump in unemployment, and a reshuffling of the workforce that moves the average person back a bit, but not much worse than they are now - about in line with how they were before COVID.
At that point the Fed would ease off, corporations would have some leverage over the workforce again, and everything would likely start ripping again into a new bubble.
There are some unknowns, in particular the rate rising is going to apply downward pressure to housing prices. However, given how many institutional investors were buying houses in cash at higher prices than this, I’m not convinced there won’t be a relatively high floor. The big question is how much dry powder do they have left to throw at these, and/or how much better are the terms of their lending than the average home buyers. I’m guessing quite a bit better.
I guess the thesis is that when the pandemic hit, we threw so much money at the economy that we pumped everything up. Now, a ton of change has taken place and everything has to resettle and reshuffle. There is the potential for that to trigger a recession that is felt broadly, but there’s also the potential that it’s mostly reshuffling and a hit to the markets.
I think this will be the longest recession we have had in decades. Not as deep as COVID or ‘08 but I don’t expect healthy markets and a strong economy again for a long time. Rates aren’t going down below todays levels for the foreseeable future and every thing has been built on ZIRP for decades.
Not really Bidens fault, die was cast long before this.
Also everywhere globally is fucked worse than we are and I don’t think we are that decoupled. Europe is utterly and completely fucked this winter. China might be as well.
Perhaps, but that doesn’t have to impact the bottom 60% of Americans significantly, and could just hit the top 40% in their market investments - at least those who are broadly invested. I hated investing in the ZIRP environment, so I think I’d be perfectly happy to have rates at a low, but not unreasonably low, level going forward.
You mean due to the war and heating gas supply chains?
Bottom 60 percent of Americans are already losing ground on real wages and have been for a year and a half now.
Europe won’t have reliable energy for the winter. Much of the manufacturing base is going to end up shutting at least temporarily and companies looking for permanent alternatives.
We’re in a recession right now. Last 2 quarters had negative GDP.
