10% For The Big Guy said:

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dajo9 said:

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A great article summarizing the once-every 3 years Survey of Consumer Finances which, according to this article, is the best measure of wealth distribution across the U.S.

Key takeaway:

Quote:

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Wealth inequality, while still extremely high, fell to some of the lowest levels in the last decade, and real median net worth hit record highs for a variety of traditionally economically disadvantaged groups including single parents, under-35s, renters, Hispanic Americans, Black Americans, and more.

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About half of the post Great Recession, QE assisted, surge in wealth inequality is gone.

https://www.apricitas.io/p/americas-record-wealth-boom

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Quote:

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Indeed, the SCF shows that the pandemic era has seen a rather significant drop in US wealth inequality in contrast to the rising multi-decade trend of rising inequality (although these figures don't include the very richest Americans like Elon Musk or Jeff Bezos).

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That's like analyzing the distribution of wins in Pac 12 football without including Washington and Oregon to try and tell you how Stanford is doing better than ever.

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dajo9 said:

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10% For The Big Guy said:

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dajo9 said:

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A great article summarizing the once-every 3 years Survey of Consumer Finances which, according to this article, is the best measure of wealth distribution across the U.S.

Key takeaway:

Quote:

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Wealth inequality, while still extremely high, fell to some of the lowest levels in the last decade, and real median net worth hit record highs for a variety of traditionally economically disadvantaged groups including single parents, under-35s, renters, Hispanic Americans, Black Americans, and more.

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About half of the post Great Recession, QE assisted, surge in wealth inequality is gone.

https://www.apricitas.io/p/americas-record-wealth-boom

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Quote:

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Indeed, the SCF shows that the pandemic era has seen a rather significant drop in US wealth inequality in contrast to the rising multi-decade trend of rising inequality (although these figures don't include the very richest Americans like Elon Musk or Jeff Bezos).

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That's like analyzing the distribution of wins in Pac 12 football without including Washington and Oregon to try and tell you how Stanford is doing better than ever.

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The survey includes 21 billionaires but because it doesn't include the most well known celebrity billionaires you use that to try to attack it. The obvious reality is that the survey is fine, you just don't like the outcome.

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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dimitrig said:

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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Make it at home and pocket the money. Even I can make a good steak.

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dajo9 said:

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dimitrig said:

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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Make it at home and pocket the money. Even I can make a good steak.

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$64 bone-in 14 oz filet mignon was fantastic. Better than i could dream of making myself, but im not much of a cook. My old fashioned was very nice also. Cost to me - zero. Restaurant was packed.

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oski003 said:

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dajo9 said:

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dimitrig said:

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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Make it at home and pocket the money. Even I can make a good steak.

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$64 bone-in 14 oz filet mignon was fantastic. Better than i could dream of making myself, but im not much of a cook. My old fashioned was very nice also. Cost to me - zero. Restaurant was packed.

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Great news that you were able to make a same day afternoon reservation and go to a steakhouse for dinner on a Saturday evening, the absolute busiest time of the week. Good to know that is now possible in this economy.

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dajo9 said:

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oski003 said:

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dajo9 said:

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dimitrig said:

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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Make it at home and pocket the money. Even I can make a good steak.

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$64 bone-in 14 oz filet mignon was fantastic. Better than i could dream of making myself, but im not much of a cook. My old fashioned was very nice also. Cost to me - zero. Restaurant was packed.

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Great news that you were able to make a same day afternoon reservation and go to a steakhouse for dinner on a Saturday evening, the absolute busiest time of the week. Good to know that is now possible in this economy.

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Yep. 2nd place I called and only if we could arrive by 5pm and promise to be out by 7pm.

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oski003 said:

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dajo9 said:

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oski003 said:

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dajo9 said:

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dimitrig said:

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dajo9 said:

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So, my 90 year old mother in law announced this afternoon she'd like to go out for a nice steak. That put me on the spot. It is not easy to get day-of reservations at a nice steakhouse in this booming economy, even at $50 / steak and even in the suburbs.

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Make it at home and pocket the money. Even I can make a good steak.

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$64 bone-in 14 oz filet mignon was fantastic. Better than i could dream of making myself, but im not much of a cook. My old fashioned was very nice also. Cost to me - zero. Restaurant was packed.

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Great news that you were able to make a same day afternoon reservation and go to a steakhouse for dinner on a Saturday evening, the absolute busiest time of the week. Good to know that is now possible in this economy.

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Yep. 2nd place I called and only if we could arrive by 5pm and promise to be out by 7pm.

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Yeah, busiest time is that 6-8pm. Good that your two person party agreed to not stay past the two hour dining window.

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dajo9 said:

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Inflation down to a normal 3.2%.

Republicans still pretending to be hysterical.

https://www.cnbc.com/2023/11/14/cpi-inflation-report-october-2023.html

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Janet Yellen is dealing with a situation where she has $8 trillion in US debt maturing in the next 12 months that needs to roll over and be refinanced at the new higher interest rates.

Also the NEW deficit is about $2 trillion to $3 trillion and needs to find buyers for all… https://t.co/nMUwjgVe7g

— Wall Street Silver (@WallStreetSilv) November 15, 2023

dajo9 said:

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Cal88 said:

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Janet Yellen is dealing with a situation where she has $8 trillion in US debt maturing in the next 12 months that needs to roll over and be refinanced at the new higher interest rates.

Also the NEW deficit is about $2 trillion to $3 trillion and needs to find buyers for all… https://t.co/nMUwjgVe7g

— Wall Street Silver (@WallStreetSilv) November 15, 2023

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The idea that U.S. debt is the focus of U.S. talks with China is a fantasy of those who want to spread an image of American weakness due to ulterior motives

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dajo9 said:

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dajo9 said:

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Cal88 said:

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Janet Yellen is dealing with a situation where she has $8 trillion in US debt maturing in the next 12 months that needs to roll over and be refinanced at the new higher interest rates.

Also the NEW deficit is about $2 trillion to $3 trillion and needs to find buyers for all… https://t.co/nMUwjgVe7g

— Wall Street Silver (@WallStreetSilv) November 15, 2023

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The idea that U.S. debt is the focus of U.S. talks with China is a fantasy of those who want to spread an image of American weakness due to ulterior motives

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The reality is that $124 billion out of China's $175 billion dollar property bonds are in default. China is struggling right now. Biden is cleaning their clock.

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dajo9 said:

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dajo9 said:

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Cal88 said:

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Janet Yellen is dealing with a situation where she has $8 trillion in US debt maturing in the next 12 months that needs to roll over and be refinanced at the new higher interest rates.

Also the NEW deficit is about $2 trillion to $3 trillion and needs to find buyers for all… https://t.co/nMUwjgVe7g

— Wall Street Silver (@WallStreetSilv) November 15, 2023

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The idea that U.S. debt is the focus of U.S. talks with China is a fantasy of those who want to spread an image of American weakness due to ulterior motives

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The reality is that $124 billion out of China's $175 billion dollar property bonds are in default. China is struggling right now. Biden is cleaning their clock.

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tequila4kapp said:

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Genocide Joe said:

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dajo9 said:

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Inflation down to a normal 3.2%.

Republicans still pretending to be hysterical.

https://www.cnbc.com/2023/11/14/cpi-inflation-report-october-2023.html

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When inflation decreases, prices don't. They stay at the same high inflated price.

Learn economics, boy, instead of pretending to be an expert on them.

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Are you really going with the Hitler picture?

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Quote:

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IMF upgrades China's growth forecasts

The International Monetary Fund (IMF) has upgraded its GDP growth forecasts for China in 2023 and 2024. It now expects China's economy to grow by 5.4% this year, up from its previous forecast of 5%.
However, the IMF also warns of slower growth next year, projecting that China's GDP will expand by 4.6% in 2024 up from a 4.2% forecast in October due to weakness in the property sector and subdued export demand.

The upward revision to growth forecasts is attributed to China's approval of a 1 trillion yuan ($137 billion) sovereign bond issue and measures to support the economy.

"We have revised up growth by 0.4 percentage points in both years relative to our October projections, reflecting stronger than expected growth in the third quarter and the new policy support that was recently announced," IMF First Deputy Managing Director Gita Gopinath said.

It came as China's consumer price index dropped 0.2% in October from a year earlier and 0.1% lower than in September. The producer price index fell 2.6% year-on-year in October, 0.1 percentage points less than economists had predicted.

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Cal88 said:

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China's growth forecasts upgraded

They're only growing by 4.6% next year, down from 5.4% this year, what an economic disaster!

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Cal88 said:

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China's growth forecasts upgraded

Quote:

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IMF upgrades China's growth forecasts

The International Monetary Fund (IMF) has upgraded its GDP growth forecasts for China in 2023 and 2024. It now expects China's economy to grow by 5.4% this year, up from its previous forecast of 5%.
However, the IMF also warns of slower growth next year, projecting that China's GDP will expand by 4.6% in 2024 up from a 4.2% forecast in October due to weakness in the property sector and subdued export demand.

The upward revision to growth forecasts is attributed to China's approval of a 1 trillion yuan ($137 billion) sovereign bond issue and measures to support the economy.

"We have revised up growth by 0.4 percentage points in both years relative to our October projections, reflecting stronger than expected growth in the third quarter and the new policy support that was recently announced," IMF First Deputy Managing Director Gita Gopinath said.

It came as China's consumer price index dropped 0.2% in October from a year earlier and 0.1% lower than in September. The producer price index fell 2.6% year-on-year in October, 0.1 percentage points less than economists had predicted.

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https://www.weforum.org/agenda/2023/11/china-growth-forecast-economy-news/

They're only growing by 4.6% next year, down from 5.4% this year, what an economic disaster!

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