DiabloWags said:

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In other news, the core PCE index for January rose 0.4% as expected.
The 12-month core PCE inflation rate eased to 2.8% vs 2.9% in December.

Goods prices fell 0.2%
Service prices rose 0.6%

January typically sees the hottest inflation data of the year as companies update pricing at the start of the year, but seasonal adjustment methodology doesn't fully take that into account.

For example, in January of 2023 the core PCE index rose an even hotter 0.51% on the month.
With January 2023 data dropping out of the 12-month calculation, the inflation rate still fell last month to 2.85% from 2.94%

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The last time it was below 3% was March 2021. The economic data continues to indicate that our economy is growing well, with improvements for workers, and relatively low risk for a hard landing.

For whatever reason the media is underplaying this economic recovery (in contrast to how it reports on the economy during GOP administrations) but to be clear this has been an exceptional recovery and far better than the vast majority of pundits, economists and prognosticators thought would occur.

I'm still waiting for interest rates to drop back down and ideally back to zero because that's better for me personally lol but regardless gotta give the Fed its props for managing this crisis well and the Biden administration for having a steady hand. I can't even imagine where we would be with the clown show GOP in charge.

Unit2Sucks said:

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For whatever reason the media is underplaying this economic recovery (in contrast to how it reports on the economy during GOP administrations) but to be clear this has been an exceptional recovery and far better than the vast majority of pundits, economists and prognosticators thought would occur.

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From Roge Karma of The Atlantic, January 12, 2024

Is Economic Pessimism the Media's Fault? - The Atlantic

And Lora Kelley, Feb. 27th, 2024

Two theories for Americans' dire economic outlook - The Atlantic

NEW ALL-TIME HIGHS AGAIN.

Just one reason the deplorables are so unhinged right now. As bad as Trump was, and he was one of the worst presidents in history, if not for the disastrous response to COVID and the fact that it tanked our economy, he would have been re-elected despite being the most unpopular president ever. Absent a similar black swan event, Biden is going to win in November and the deplorables, as dense as they are, all can recognize that. So they are doing their best to distract people from the fundamentals of Biden's re-election campaign which remain incredibly strong.

2023 was an incredible year for the US economy.

Inflation cooled.
Growth accelerated.
3 million jobs added
Wage growth outpaced inflation
And the labor market eased gradually...as the latest "JOLTS" data shows (even with revisions).

2024 is off to a strong start pic.twitter.com/xxAQUNG09V

— Heather Long (@byHeatherLong) March 6, 2024

To Democrats, Trump is an extremist. But to his supporters, he's a liberal—and they love that about him. On abortion, on trade, on immigration, on gay marriage, Trump's positions were the positions of Democrats in the 90s. Thank you so much @RealTimers @billmaher for having me! pic.twitter.com/mUmyY9kZh6

— Batya Ungar-Sargon (@bungarsargon) March 3, 2024

The Democrats are the party of the college credentialed elites and the dependent poor. So all of their policies are either about flattering the vanity of the rich or sustaining the poor. That won't work. And meanwhile, everybody in the middle, the hardworking people were not represented by either party until Trump came along. And Trump showed up and said, wait a minute. Why is no one standing up for the hardworking American? Working class Americans, whether they vote for Democrat or Republican, whether they're liberal or conservative, they all have the same views. Like, neither party is really speaking to them. They all agree by and large about the most important issues. Polarization is a totally elite phenomenon…

…So the elites are very, very polarized. If you talk to someone who's been to college, conservative or liberal, somebody who works in the media elites, somebody who works in the political elites, they look at the party platform, whether it's the GOP platform or the democratic platform, and they're like, check, check. Whatever the party tells them is the good and the right they agree with. So there's no natural connection between supporting abortion on demand and believing in climate change and supporting an open border. Those things were cobbled together because they are all in the interests of the leftist elites. And so if you're in those leftist elite circles, you're like, oh, these are all my priorities. If you are a hardworking American, those are not your priorities. You go issue by issue and say, well, I'm a Christian, so I would never get an abortion, but I know somebody who was raped, so I don't want it to be banned. You say, well, I have a family member who's gay, and I want them to be treated with dignity, but I have a child in school and I'm terrified of the trans agenda. You have this because the American working class is deeply tolerant, and so that is how they approach the world…

…97% of donations coming out of Silicon Valley go to Democrats. The majority of Americans making over $500,000 a year are Democrats. Nine of the ten richest counties in this country now vote for Democrats. And the majority of donations coming out of Wall Street went to Joe Biden and not to Donald Trump because these elites hate Trump because he represents the return of the middle class, the rise of the working class, and the pride of the working class. That's what they hate and why they write this stuff, this drivel. They cannot stand the idea that people who work with their hands for a living should have dignity.

- Batya Ungar-Sargon

bear2034 said:

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The Democrats are the party of the college credentialed elites and the dependent poor. So all of their policies are either about flattering the vanity of the rich or sustaining the poor. That won't work. And meanwhile, everybody in the middle, the hardworking people were not represented by either party until Trump came along. And Trump showed up and said, wait a minute. Why is no one standing up for the hardworking American? Working class Americans, whether they vote for Democrat or Republican, whether they're liberal or conservative, they all have the same views. Like, neither party is really speaking to them. They all agree by and large about the most important issues. Polarization is a totally elite phenomenon…

…So the elites are very, very polarized. If you talk to someone who's been to college, conservative or liberal, somebody who works in the media elites, somebody who works in the political elites, they look at the party platform, whether it's the GOP platform or the democratic platform, and they're like, check, check. Whatever the party tells them is the good and the right they agree with. So there's no natural connection between supporting abortion on demand and believing in climate change and supporting an open border. Those things were cobbled together because they are all in the interests of the leftist elites. And so if you're in those leftist elite circles, you're like, oh, these are all my priorities. If you are a hardworking American, those are not your priorities. You go issue by issue and say, well, I'm a Christian, so I would never get an abortion, but I know somebody who was raped, so I don't want it to be banned. You say, well, I have a family member who's gay, and I want them to be treated with dignity, but I have a child in school and I'm terrified of the trans agenda. You have this because the American working class is deeply tolerant, and so that is how they approach the world…

…97% of donations coming out of Silicon Valley go to Democrats. The majority of Americans making over $500,000 a year are Democrats. Nine of the ten richest counties in this country now vote for Democrats. And the majority of donations coming out of Wall Street went to Joe Biden and not to Donald Trump because these elites hate Trump because he represents the return of the middle class, the rise of the working class, and the pride of the working class. That's what they hate and why they write this stuff, this drivel. They cannot stand the idea that people who work with their hands for a living should have dignity.

- Batya Ungar-Sargon

---

Does the guy you cribbed this from explain exactly what Trump has done or will do to help the working class or middle class?

Also, nice insinuation that hardworking Americans are Trump supporters and therefore by inference, those that aren't supporting Trump aren't hardworking.

Yup.

Never mind that the Trump tax cuts favored the Top 1% and Corporations. Not the middle class.

https://www.americanprogress.org/article/tcja-2-years-later-corporations-not-workers-big-winners/

Eastern Oregon Bear said:

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bear2034 said:

---

The Democrats are the party of the college credentialed elites and the dependent poor. So all of their policies are either about flattering the vanity of the rich or sustaining the poor. That won't work. And meanwhile, everybody in the middle, the hardworking people were not represented by either party until Trump came along. And Trump showed up and said, wait a minute. Why is no one standing up for the hardworking American? Working class Americans, whether they vote for Democrat or Republican, whether they're liberal or conservative, they all have the same views. Like, neither party is really speaking to them. They all agree by and large about the most important issues. Polarization is a totally elite phenomenon…

…So the elites are very, very polarized. If you talk to someone who's been to college, conservative or liberal, somebody who works in the media elites, somebody who works in the political elites, they look at the party platform, whether it's the GOP platform or the democratic platform, and they're like, check, check. Whatever the party tells them is the good and the right they agree with. So there's no natural connection between supporting abortion on demand and believing in climate change and supporting an open border. Those things were cobbled together because they are all in the interests of the leftist elites. And so if you're in those leftist elite circles, you're like, oh, these are all my priorities. If you are a hardworking American, those are not your priorities. You go issue by issue and say, well, I'm a Christian, so I would never get an abortion, but I know somebody who was raped, so I don't want it to be banned. You say, well, I have a family member who's gay, and I want them to be treated with dignity, but I have a child in school and I'm terrified of the trans agenda. You have this because the American working class is deeply tolerant, and so that is how they approach the world…

…97% of donations coming out of Silicon Valley go to Democrats. The majority of Americans making over $500,000 a year are Democrats. Nine of the ten richest counties in this country now vote for Democrats. And the majority of donations coming out of Wall Street went to Joe Biden and not to Donald Trump because these elites hate Trump because he represents the return of the middle class, the rise of the working class, and the pride of the working class. That's what they hate and why they write this stuff, this drivel. They cannot stand the idea that people who work with their hands for a living should have dignity.

- Batya Ungar-Sargon

---

Does the guy you cribbed this from explain exactly what Trump has done or will do to help the working class or middle class?

Also, nice insinuation that hardworking Americans are Trump supporters and therefore by inference, those that aren't supporting Trump aren't hardworking.

---

Trump workers might be hard working, or might be lazy. But one thing that is the same, they're all dumb as fudge!

DiabloWags said:

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Yup.

Never mind that the Trump tax cuts favored the Top 1% and Corporations. Not the middle class.

https://www.americanprogress.org/article/tcja-2-years-later-corporations-not-workers-big-winners/

---

Joe Biden viciously attacks tax cheats.

Hardest hit: Hunter Biden.

— Matt Gaetz (@mattgaetz) March 8, 2024

bear2034 said:

---

To Democrats, Trump is an extremist. But to his supporters, he's a liberal—and they love that about him. On abortion, on trade, on immigration, on gay marriage, Trump's positions were the positions of Democrats in the 90s. Thank you so much @RealTimers @billmaher for having me! pic.twitter.com/mUmyY9kZh6

— Batya Ungar-Sargon (@bungarsargon) March 3, 2024

The Democrats are the party of the college credentialed elites and the dependent poor. So all of their policies are either about flattering the vanity of the rich or sustaining the poor. That won't work. And meanwhile, everybody in the middle, the hardworking people were not represented by either party until Trump came along. And Trump showed up and said, wait a minute. Why is no one standing up for the hardworking American? Working class Americans, whether they vote for Democrat or Republican, whether they're liberal or conservative, they all have the same views. Like, neither party is really speaking to them. They all agree by and large about the most important issues. Polarization is a totally elite phenomenon…

…So the elites are very, very polarized. If you talk to someone who's been to college, conservative or liberal, somebody who works in the media elites, somebody who works in the political elites, they look at the party platform, whether it's the GOP platform or the democratic platform, and they're like, check, check. Whatever the party tells them is the good and the right they agree with. So there's no natural connection between supporting abortion on demand and believing in climate change and supporting an open border. Those things were cobbled together because they are all in the interests of the leftist elites. And so if you're in those leftist elite circles, you're like, oh, these are all my priorities. If you are a hardworking American, those are not your priorities. You go issue by issue and say, well, I'm a Christian, so I would never get an abortion, but I know somebody who was raped, so I don't want it to be banned. You say, well, I have a family member who's gay, and I want them to be treated with dignity, but I have a child in school and I'm terrified of the trans agenda. You have this because the American working class is deeply tolerant, and so that is how they approach the world…

…97% of donations coming out of Silicon Valley go to Democrats. The majority of Americans making over $500,000 a year are Democrats. Nine of the ten richest counties in this country now vote for Democrats. And the majority of donations coming out of Wall Street went to Joe Biden and not to Donald Trump because these elites hate Trump because he represents the return of the middle class, the rise of the working class, and the pride of the working class. That's what they hate and why they write this stuff, this drivel. They cannot stand the idea that people who work with their hands for a living should have dignity.

- Batya Ungar-Sargon

---

Okay, I gotta admit there are a lot of humorous lines in the above -- we can see why this one gets invited to appear on a comedy show -- but for me, one line really stood out:

" ... And Trump showed up and said, wait a minute. Why is no one standing up for the hardworking American? ... "

Great line! Outrageous and absurd, yet classic at the same time.

Steve Bannon is the clown that worked at Goldman Sachs and watched his AT&T lineman Dad and retiree sell out of ALL of his AT&T shares at the BOTTOM of the market during the Great Recession.

Bannon has never been the same, since.
He's been anti-Ayn Rand's version of libertarianism ever since.

Truly ironic, given her popularity with the alt-Right and big Ayn Rand fan . . . Peter Thiel, the Trump campaign funder and venture capitalist.

Meanwhile, he's taken a page out of the Donald Trump WELCH BOOK by refusing to pay his legal bills for 2 years. $500,000 he owes his former lawyer. And the penalties are adding up!

What a LOSER.



Steve Bannon's Refusal to Pay His Bills Is Costing Him Big (thedailybeast.com)

Holy. Shit.

I thought this was a typo…

In just February, 1.2 million immigrants (legal and illegal) gained a job. Meanwhile, 500k native-born Americans LOST their job.

Since Covid, native-born workers have actually LOST 2 million jobs. All of the net job gains are immigrants. pic.twitter.com/Rkg9viZsv9

— Geiger Capital (@Geiger_Capital) March 8, 2024

Irony

DiabloWags said:

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With a near zero birthrate in this country, I wonder who the MAGA crowd thinks will be helping to support their social security payouts.

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The MAGA crowd now supports cuts to social security and / or Medicare. They may not know it yet, but they do. Trump came out in favor of entitlement cuts this morning.

https://www.forbes.com/sites/zacharyfolk/2024/03/11/trump-floats-cutting-spending-on-entitlements-like-social-security-and-medicare/?sh=7fb8e1975c3e