The Biden Economy

[Dondilion]

Mohamed speaks:

The US may no longer avoid a recession.

https://www.ft.com/content/02a899eb-...8-b5240a7127e9

[RickeyM]

Opinion

Originally Posted by dondilion

mohamed speaks:

The us may no longer avoid a recession.

https://www.ft.com/content/02a899eb-...8-b5240a7127e9

[finnbow]

The economy grew at a robust 4.9% annualized rate in the last quarter on the back of strong consumer spending and lower inflation, a far cry from the recession many had once predicted the US would be in by now.

Not counting the gyrations of the pandemic period, it is stronger economic growth than any quarter of the pre-Covid Trump presidency and stronger than any quarter since 2014.

https://www.nytimes.com/2023/10/26/b...conomy-q3.html

[Dondilion]

Mohamed speaks:

Buyers are hesitant....before the conflict 10yr was 4.8


https://www.youtube.com/watch?v=oz9qHZhLMbY

[bobabode]

US Launches $3 Billion Effort to Boost Advanced Chip Packaging - Bloomberg

https://www.msn.com/en-us/money/comp...ac25893&ei=313

Thanks, Joe.

[whell]

Originally Posted by finnbow

The economy grew at a robust 4.9% annualized rate in the last quarter on the back of strong consumer spending and lower inflation, a far cry from the recession many had once predicted the US would be in by now.


https://www.nytimes.com/2023/10/26/b...conomy-q3.html

...and then the bill will come due. Will folks be able to pay it?

Credit card debt has reached a record high. Here's what it means for the economy.

U.S. consumers, who account for nearly three-quarters of U.S. economic activity, drove breakneck economic growth in recent months, Mary Hansen, an economics professor at American University, told ABC News. The data released this week suggests the consumer spending was fueled in part by debt, she noted.

"Consumer spending, which we all know is the base of GDP, is really being held up by credit card debt and maybe it's not sustainable," Hansen said.

Also:

Overall delinquency rates on a range of consumer loans -- including credit card, auto and student borrowing -- ticked up to 3% over a three-month period ending in September, the Fed report showed.

"The increase in credit card debt and delinquencies reflects in part the increased financial stress on lower-income households, who have been hit hard by the higher cost of living," Mark Zandi, chief economist at Moody's Analytics, told ABC News.

[finnbow]

Originally Posted by whell

...and then the bill will come due. Will folks be able to pay it?

Credit card debt has reached a record high. Here's what it means for the economy.

U.S. consumers, who account for nearly three-quarters of U.S. economic activity, drove breakneck economic growth in recent months, Mary Hansen, an economics professor at American University, told ABC News. The data released this week suggests the consumer spending was fueled in part by debt, she noted.

"Consumer spending, which we all know is the base of GDP, is really being held up by credit card debt and maybe it's not sustainable," Hansen said.

Also:

Overall delinquency rates on a range of consumer loans -- including credit card, auto and student borrowing -- ticked up to 3% over a three-month period ending in September, the Fed report showed.

"The increase in credit card debt and delinquencies reflects in part the increased financial stress on lower-income households, who have been hit hard by the higher cost of living," Mark Zandi, chief economist at Moody's Analytics, told ABC News.

I thought you Trump lovers admired those who refuse to pay off their debt.

[whell]

Originally Posted by finnbow

I thought you Trump lovers admired those who refuse to pay off their debt.

I thought you lefties were smart enough not to post lame, weak, and irrelevant responses like this.

[whell]

Originally Posted by RickeyM

Opinion

Yes, as it is every comment about the future state of the economy. You could even apply the "opinion" label to comments about the current state of the economy since the economy today could be impacted by variables that no one is paying much attention to.

[finnbow]

Originally Posted by whell

I thought you lefties were smart enough not to post lame, weak, and irrelevant responses like this.

You do a drive-by after a prolonged absence due to your embarrassment at defending all things Trump and you expect a serious response? LOL.