From Fidelity, one of the largest wealth management firms in the world:

"While the criteria for determining when a recession occurs is complex, there is no indication that one has arrived. The gross domestic product of the US has actually grown over the last 2 quarters: by 3.3% in Q4 2023 and 1.6% in Q1 2024.

"Stocks are doing well. The S&P 500® Index rose by 24% in 2023 and has continued on its upward trajectory in 2024, rising more than 10% in Q1 2024.

"Though still elevated from its pre-pandemic levels, the rate of inflation most recently dropped to 3.4% in April, down significantly from its peak of 9.1% in June 2022.2 Furthermore, wages have generally been rising faster than inflation since February 2023, which in theory should lessen the impact of rising costs on consumers.

"The unemployment rate is actually near a 50-year low. In May 2024, it rose slightly to 4%, which is well below the average reading of 5.7% since 1950."

https://www.fidelity.com/learn...omo_22176_1028465_P1

Just got that myself. The economy is bifurcated; good for those with money and not so good for those financially challenged. But it's always been that way, it's just that the wealth gap between rich and poor is widening.

quote:

Originally posted by RolandtheHeadless:
From Fidelity, one of the largest wealth management firms in the world:

"While the criteria for determining when a recession occurs is complex, there is no indication that one has arrived. The gross domestic product of the US has actually grown over the last 2 quarters: by 3.3% in Q4 2023 and 1.6% in Q1 2024.

"Stocks are doing well. The S&P 500® Index rose by 24% in 2023 and has continued on its upward trajectory in 2024, rising more than 10% in Q1 2024.

"Though still elevated from its pre-pandemic levels, the rate of inflation most recently dropped to 3.4% in April, down significantly from its peak of 9.1% in June 2022.2 Furthermore, wages have generally been rising faster than inflation since February 2023, which in theory should lessen the impact of rising costs on consumers.

"The unemployment rate is actually near a 50-year low. In May 2024, it rose slightly to 4%, which is well below the average reading of 5.7% since 1950."

https://www.fidelity.com/learn...omo_22176_1028465_P1

But, Greg Gutfeld and Trump told me everything sucks.

quote:

Originally posted by LHeym500:

quote:

Originally posted by RolandtheHeadless:
From Fidelity, one of the largest wealth management firms in the world:

"While the criteria for determining when a recession occurs is complex, there is no indication that one has arrived. The gross domestic product of the US has actually grown over the last 2 quarters: by 3.3% in Q4 2023 and 1.6% in Q1 2024.

"Stocks are doing well. The S&P 500® Index rose by 24% in 2023 and has continued on its upward trajectory in 2024, rising more than 10% in Q1 2024.

"Though still elevated from its pre-pandemic levels, the rate of inflation most recently dropped to 3.4% in April, down significantly from its peak of 9.1% in June 2022.2 Furthermore, wages have generally been rising faster than inflation since February 2023, which in theory should lessen the impact of rising costs on consumers.

"The unemployment rate is actually near a 50-year low. In May 2024, it rose slightly to 4%, which is well below the average reading of 5.7% since 1950."

https://www.fidelity.com/learn...omo_22176_1028465_P1

But, Greg Gutfeld and Trump told me everything sucks.

If the GOP held the White House, they would be crowing from the rooftops about this economy.

quote:

Originally posted by ANTELOPEDUNDEE:
Just got that myself. The economy is bifurcated; good for those with money and not so good for those financially challenged. But it's always been that way, it's just that the wealth gap between rich and poor is widening.

Yep! The rich democrats are just loving it....hell it ain't hurting me either....the rest of the country....not so much.

Gonna get trump re-elected!

Sounds like it is good for tetried, hard working blue collar tradesmen then.

I guess the cheap migrant labor did not harm you either into retirement.

Those who complain the most receive a large proportion of the benefit.

quote:

Originally posted by JTEX:

quote:

Originally posted by ANTELOPEDUNDEE:
Just got that myself. The economy is bifurcated; good for those with money and not so good for those financially challenged. But it's always been that way, it's just that the wealth gap between rich and poor is widening.

Yep! The rich democrats are just loving it....hell it ain't hurting me either....the rest of the country....not so much.

Gonna get trump re-elected!

Be careful what you wish/hope for. Things could regress under trump.

https://finance.yahoo.com/news...ation-200215069.html

"Biden's economic agenda is still a tough sell to voters, who sometimes have selective memories. Biden is battling a “Trumpnesia” phenomenon in which voters forget about Trump’s erratic handling of the COVID pandemic and other controversies and and only remember that gasoline cost less than $3 per gallon. If there’s another Trump presidential term, it could generate very different memories."

Nobody should crow about an economy built on inflated prices in devalued dollars. If my net worth has doubled over the last three years, it's all smoke and mirrors. It's all BS. Regards, Bill.

People well positioned are thriving…actually thriving exponentially in this economy. People not positioned well are struggling and acquiring more and more debt. It is a rich get richer and poor get poorer economy.

Yes…my companies are thriving. But, go back and look at Bushpeter’s graphs in his thread and see where we are. Right now the graph is skewing to the right in exponential order.

Works for me…but doesn’t get my vote of where we ought to be.

Burdensome executive regulation (the difference in today and 2019)…hurts the middle and kills the “American Dream.”

Of the increase I have seen, a portion is in increased real estate assessed value (directly attributable to a devalued dollar), a portion is the result of expansion and applied labor, a portion is the result of increased fee structure, and a portion from capital investments. Again, the increased value of capital investments is simply a reflection of the devalued dollar. In other words, equipment I bought may be worth more than what I paid for it, but not enough to counter inflation in other areas. In the end, because I have no debt, I am somewhat OK, but my cash is worth a little less every day. Regards, Bill

quote:

Originally posted by ledvm:
People well positioned are thriving…actually thriving exponentially in this economy. People not positioned well are struggling and acquiring more and more debt. It is a rich get richer and poor get poorer economy.

Yes…my companies are thriving. But, go back and look at Bushpeter’s graphs in his thread and see where we are. Right now the graph is skewing to the right in exponential order.

Works for me…but doesn’t get my vote of where we ought to be.

Burdensome executive regulation (the difference in today and 2019)…hurts the middle and kills the “American Dream.”

Only a republican could post some bullshit like this with a straight face.

"Well, yeah. I'm doing great. But, you know those poor people who I've never given a shit about before? Not so good."

quote:

Originally posted by LHeym500:
Sounds like it is good for tetried, hard working blue collar tradesmen then.

I guess the cheap migrant labor did not harm you either into retirement.

Those who complain the most receive a large proportion of the benefit.

Dipshit....

How could the illegal labor hurt me in retirement???

The hard working blue collar workers ARE the ones hurt by this economy, and the Illegal labor....

Inflation driving costs up and illegals taking jobs and driving wages down.

How can you be so educated and so ignorant?

Illegals don't take lawyers jobs though now do they????

Did you read the article?

They didn't explicitly say the economy is doing well, they said that we are not in a recession, while admitting that how one defines a recession is very murky.

They tout stock growth.

They tout consumer spending.

They admit that inflation is a part of why some are concerned, but then state its "moderated" recently (Its still way above the 2% a year considered normal or healthy...)

They express amazement that the guy on the street isn't recognizing the slowing of inflation and wanting to go full steam ahead.

Then they tell you not to watch the economic information and trust them to do your work for you...

Its an ad, for crying out loud. It has little to do with reality, its about convincing you to hire Fidelity to run your investments.

Inflation is a permanent fixture. Once prices are inflated, how often do they go down?

Look at it this way, your 401 K money expanded by 30%. Inflation was 20%. Good, right? Not entirely. You have to pay taxes on the 401K when it comes out. Say your combined tax rate is about 30%. (mine are over that) Your "economic good times" were a wash as far as retirement savings. And neglect the fact that prior to that 30% increase you had a substantial drop...

I'm not saying the economy is bad. I'm certainly not inclined to believe that Trump is some kind of economic savant that will eliminate inflation and get the economy to bump up to a 40% increase in stocks. (Although he might drop my tax rate to the 30% level... then again, probably not...) But I am also not convinced that the economy is good... and the usual left sources constantly trying to convince me that it is so great when I don't see it as great says that they are lying.

If folks were saying "its not bad, but we have some very concerning items" instead of "Its great, what are you complaining about inflation for?" maybe my BS meter might not be beeping constantly.

Inflation has already hit us. It will take some time before the slow correction of wages and stability makes a consumer feel that they regained the ground they lost.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:
People well positioned are thriving…actually thriving exponentially in this economy. People not positioned well are struggling and acquiring more and more debt. It is a rich get richer and poor get poorer economy.

Yes…my companies are thriving. But, go back and look at Bushpeter’s graphs in his thread and see where we are. Right now the graph is skewing to the right in exponential order.

Works for me…but doesn’t get my vote of where we ought to be.

Burdensome executive regulation (the difference in today and 2019)…hurts the middle and kills the “American Dream.”

Only a republican could post some bullshit like this with a straight face.

"Well, yeah. I'm doing great. But, you know those poor people who I've never given a shit about before? Not so good."

Hey Mike

I grew up poor. A lot of my friends and family struggle and I care about them. Of course what I said above is 100% true. But you can’t argue on merits…just hurl ad hominem attacks.

quote:

Originally posted by ledvm:

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:
People well positioned are thriving…actually thriving exponentially in this economy. People not positioned well are struggling and acquiring more and more debt. It is a rich get richer and poor get poorer economy.

Yes…my companies are thriving. But, go back and look at Bushpeter’s graphs in his thread and see where we are. Right now the graph is skewing to the right in exponential order.

Works for me…but doesn’t get my vote of where we ought to be.

Burdensome executive regulation (the difference in today and 2019)…hurts the middle and kills the “American Dream.”

Only a republican could post some bullshit like this with a straight face.

"Well, yeah. I'm doing great. But, you know those poor people who I've never given a shit about before? Not so good."

Hey Mike

I grew up poor. A lot of my friends and family struggle and I care about them. Of course what I said above is 100% true. But you can’t argue on merits…just hurl ad hominem attacks.

What "merits" do you want to argue about? You come on here and brag constantly about how well you are doing economically and then you want to talk about how shitty the economy is as a political talking point, ostensibly because of your concern about the poor.

It's laughable.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:
People well positioned are thriving…actually thriving exponentially in this economy. People not positioned well are struggling and acquiring more and more debt. It is a rich get richer and poor get poorer economy.

Yes…my companies are thriving. But, go back and look at Bushpeter’s graphs in his thread and see where we are. Right now the graph is skewing to the right in exponential order.

Works for me…but doesn’t get my vote of where we ought to be.

Burdensome executive regulation (the difference in today and 2019)…hurts the middle and kills the “American Dream.”

Only a republican could post some bullshit like this with a straight face.

"Well, yeah. I'm doing great. But, you know those poor people who I've never given a shit about before? Not so good."

Hey Mike

I grew up poor. A lot of my friends and family struggle and I care about them. Of course what I said above is 100% true. But you can’t argue on merits…just hurl ad hominem attacks.

What "merits" do you want to argue about? You come on here and brag constantly about how well you are doing economically and then you want to talk about how shitty the economy is as a political talking point, ostensibly because of your concern about the poor.

It's laughable.

I did well in 2009, 10, and 11 too. The rich get richer in environments like today while the poorer. I do care about the working folks. Thought you Dems did as well.

This economy sucks if you are living off wages — fact. Want to deny that? Or just hurl more personal attacks?

The fact that the economy is very difficult for poor is true. It has been going that way for decades and the recent WORLDWIDE inflation certainly has made it more difficult for the working poor. Our economy rewards those with skills and severally penalizes those would do not have skills.

Inflation of a very similar level has occurred in every Western nation, your claim that burdensome regulation is the cause is rubbish. Anyone who lived through the pandemic and thought that things were going to go back to just the way the were before was kidding themselves, I saw the changes taking place in real time while running my business and adapted to those changes on the ground. The increase in the cost of goods and services is here to stay.

We can agree on 90%. However…

quote:

burdensome regulation is the cause is rubbish.

Expensive energy equals expensive goods. Energy production IS overburdened with regulation that was halted in the 2017-2019 period.

Other regulations on goods with appliances being a good example and the attempt to force EVs on the public all overburden the poor.

Every good businessman in the world over will tell you regulations equal cost to the consumer because every good businessman in the world over will find a way to pass the cost imposed by regulation on to the consumer.

The 2017-2019 regulatory period should be used as a model for an economy that works for all. Hence, why you are likely to see the election swayed this go-round by the working class that remembers that period.

quote:

Originally posted by ledvm:
We can agree on 90%. However…

quote:

burdensome regulation is the cause is rubbish.

Expensive energy equals expensive goods. Energy production IS overburdened with regulation that was halted in the 2017-2019 period.

Other regulations on goods with appliances being a good example and the attempt to force EVs on the public all overburden the poor.

Every good businessman in the world over will tell you regulations equal cost to the consumer because every good businessman in the world over will find a way to pass the cost imposed by regulation on to the consumer.

The 2017-2019 regulatory period should be used as a model for an economy that works for all. Hence, why you are likely to see the election swayed this go-round by the working class that remembers that period.

Energy prices are established on the world market. Geo-political issues such as the Ukraine war have a far greater impact on the price of energy than domestic policy does. I will remind you that the US is currently pumping more oil and gas than ever, more that the 2017-2019 period of time. Increased energy costs are not due to regulation, but rather the world market(with plenty of manipulation by OPEC+).

The cost of eggs has nothing to do w “burdensome regulations.”

There was a market shortage at the hight of inflation due to the avian bird flu in the U.S. production limiting supply.

The Fed government could have intervened with economic control of prices. However, such interaction between the market and consumers would have been attacked by Dr. Easter, and may have made something worse.

President Biden has had more oil production than Trump. That is a fact. Tell us what “burdensome regulations” has been so hard on gasoline supply?

Until you can do that, you are not advancing an argument.

Finally, gasoline is 3 bucks here for regular.

quote:

Originally posted by Steve Bertram:

quote:

Originally posted by ledvm:
We can agree on 90%. However…

quote:

burdensome regulation is the cause is rubbish.

Expensive energy equals expensive goods. Energy production IS overburdened with regulation that was halted in the 2017-2019 period.

Other regulations on goods with appliances being a good example and the attempt to force EVs on the public all overburden the poor.

Every good businessman in the world over will tell you regulations equal cost to the consumer because every good businessman in the world over will find a way to pass the cost imposed by regulation on to the consumer.

The 2017-2019 regulatory period should be used as a model for an economy that works for all. Hence, why you are likely to see the election swayed this go-round by the working class that remembers that period.

Energy prices are established on the world market. Geo-political issues such as the Ukraine war have a far greater impact on the price of energy than domestic policy does. I will remind you that the US is currently pumping more oil and gas than ever, more that the 2017-2019 period of time. Increased energy costs are not due to regulation, but rather the world market(with plenty of manipulation by OPEC+).

The price of crude is set by the world market and definitely has influence.

Refined and delivered fuel is hugely influenced by regulations.

quote:

The cost of eggs has nothing to do w “burdensome regulations.”

If you believe that^^^you are a fool.

While it might not be the driver of the super-inflation of eggs…

…EVERY commodity on the board and every good retailed to the consumer is influenced by regulation.

Small central government and less executive regulation ALWAYS equals cheaper retailed goods to the consumer.

Tell us which regulations have caused an artificial increase, an increase devoid of the price of crude, on IS gasoline prices.

Do you know of any, or are just repeating talking points? You know talking points like I observed w hunting conservation we need to move away from for real information.

How long is it going to take you to google something?

You have told us before you are in the industry, you should know off the top of your head one or two specific regulations and their direct effect on pricing.

Maybe not a regulatory issue, as I cannot point to a specific reg that has caused this, but we need to increase our refinery and transportation infrastructure capacity of the finished product.

I believe since President Biden those two have contracted. He can drill all he wants, but if we cannot manufacture, refine what is drilled fast enough to meet or ease demand, prices go up.

I am not on your payroll and therefore am not subject to your timeline. I write on this forum for fun when I have “spare” time.

I buy and own mineral interests in TX and OK and am not directly involved in the O&G industry.

And for me and the oil companies high crude is good!

But back to your condescending discussion…you answered your own questions — transportation and refining. Overburdensome regulations on both drive higher than could be fuel prices in the US which drives inflation.

There are tons of articles written that spell out how Biden regulation drives high fuel buy burdening the transportation and refining segments of the O&G industry. Regulation that gets suspended under Trump or most (R) administrations. Google is your friend.

In general, I would feel that regulation is by definition not going to directly increase prices. It’s an indirect effect. Direct effects are taxes and fees.

quote:

People well positioned are thriving…actually thriving exponentially in this economy. People not positioned well are struggling and acquiring more and more debt. It is a rich get richer and poor get poorer economy.

.....and a billionaire who keeps ripping-off the people that "aren't positioned well", and provides tax breaks for the rich is the answer???

Personally the reason there are people that are "not positioned well" is 90% the fault of those people.

You said you weren't born wealthy, yet you did well. There are too many Americans that weren't born wealthy, don't work hard, think they are entitled, and end up "not well positioned" and just wring their hands and whine. I have no use for them or their self-inflicted plight.