Well this has never happened before

Gaius · 2024-09-07T04:52:15.899Z

The chart only goes back to 2001,
but I’m gonna guess it seldom/never happened before 2001.

In 25 years, we’ve NEVER had an increasing stock market without corresponding job growth.

If you own stuff (stocks, houses, etc) times are GREAT!
If your well-being relies on advancing your career, getting a new job etc. . . . well the times kinda suck. Good guess that this applies both to the young and to the folks of any age in the stuck-near-the-bottom classes.

Gaius · 2024-09-07T04:59:31.422Z

Ahhh JOLTS only goes back 25 years or so.

From MS Copilot:

The Job Openings and Labor Turnover Survey (JOLTS) program was developed by the U.S. Bureau of Labor Statistics in 1998 to measure unmet labor demand in the U.S. labor market. Data collection, estimation, and analysis began in 2000, and the first public release of JOLTS data occurred in 2002, with a monthly series dating back to December 2001.

conan · 2024-09-07T06:31:25.243Z

Welcome to Biden economics.

ohknow35 · 2024-09-07T10:49:18.058Z

Gaius:

If you own stuff (stocks houses etc times are GREAT!

Building an economy “from the middle out and the bottom up”??

Gaius · 2024-09-07T11:21:35.576Z

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Large part or small part I dunno, but Bidenomics definitely played a role in it.

Consider for example Cummins Inc. ($40b market cap company which “designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide.”)

Cummins received $1B under the Biden bill that kept getting renamed (I think its final name was “The Inflation Reduction Act.”
It put $580m into its Rocky Mount plant in North Carolina, creating 80 jobs
Gee, that’s only $7m per job

It’s easy to imagine giving a corporation $1billion worth of corporate welfare would increase the stock price. The fact that it does so little to create jobs (might even replace them with automation) tells me that this fit the mold.

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Business North Carolina – 8 Jan 24

Cummins investing $580M at Rocky Mount plant, adding 80 jobs - Business North...

Engine giant Cummins plans a $580 million expansion in Rocky Mount that will add 80 jobs, aided by tax incentives approved by the Nash County Commission.

Est. reading time: 2 minutes

Manufacturing Dive

Cummins welcomes Biden, touts $1B investment in US facilities

The president visited the auto parts maker in Minnesota to highlight federally subsidized upgrades in Indiana, North Carolina and New York.

https://www.cummins.com/news/2023/04/04/president-bidens-investing-america-tour-makes-stop-cummins-fridley-plant

.

Gaius · 2024-09-07T12:52:23.873Z

K-shaped

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SixFoot · 2024-09-07T13:16:37.382Z

Just a couple more months now.

When Recession?

11 more months until the (R)ecession begins.

Bill.in.PA · 2024-09-07T16:47:33.855Z

The basic problem is that the US economy has become mainly smoke-and-mirrors. Our main exports are dollars created by the Federal Reserve, and the Fed’s policy since 2008 has been to fiddle with monetary policy to protect the stock market.

Arguably the issues go back to the mid-1960s and early 70s when Johnson and later Nixon removed any relation between the dollar and specific amount of gold or silver. Gas at $5.00 a gallon would still be $.25 a gallon if the payment were in pre-1964 silver quarters.
https://www.coinflation.com/coins/1932-1964-Silver-Washington-Quarter-Value.html

Bidenomics and Harris’s open border mean that American citizens are losing jobs while the number of jobs for immigrants has increased.

ZeroHedge

Great Replacement Job Shock: 1.3 Million Native-Born Americans Just Lost...

For those claiming that "the great replacement" is just a theory, here are some facts...

Gaius · 2024-09-08T03:01:05.143Z

Bill.in.PA:

The basic problem is that the US economy has become mainly smoke-and-mirrors.

Yes that is definitely the case right now.

SpadeMarlowe · 2024-09-08T06:43:21.664Z

I don’t know anything about economy. But …
I know Democrats were in charge 12 of the last 16 y.
Also people are willingly letting Progressives indoctrinate our kids and it’s a fact THEY hold control of airvawes and information distribution.
It is not a surprise that American voter does NOT vote them out of office and remove them from decision making.
Go around and ask people:
‘Do you know that Kamala is a reason for your miserable life today?’
Do you know SHE was the vote that tilted the scale for irrational spending and failed policies that caused this economic misery?

I bet 75 % of them would say NO… I didn’t know yet they consider voting for her anyway.

Gaius · 2024-09-08T08:59:57.152Z

SpadeMarlowe:

I don’t know anything about economy. But …

Well, you don’t need to take any economic classes to know that whatever we are doing now is not working. (When you’re in a hole, quit digging.)

Beginning in Jan 2022 job openings went into sharp decline.
That decline continued even as the S&P rose.

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Tax and spend fails every time it tries. What’s the definition of insanity?

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SpadeMarlowe · 2024-09-08T09:05:35.651Z

Gaius:

SpadeMarlowe:

I don’t know anything about economy. But …

Well, you don’t need to take any economic classes to know that whatever we are doing now is not working. (When you’re in a hole, quit digging.)

Beginning in Jan 2022 job openings went into sharp decline.
That decline continued even as the S&P rose.

image1284×604 77.2 KB

Tax and spend fails every time it tries. What’s the definition of insanity?

image1787×1028 318 KB

As I said recently Democrats were in charge for the 12 of the last 16 years.
The only way to influence the Economy is to vote out of office people who screw up the Economy.
I am not optimistic that in Nov. that will happen.
People are not engaged enough.
And Democrats keep on digging.

Liberty323 · 2024-09-08T14:23:11.889Z

Let’s not forget that when Republicans are in power they are mostly weak and complicit in the scheme as well.

Eagle-Keeper · 2024-10-04T13:23:26.214Z

Gaius:

Bill.in.PA:

The basic problem is that the US economy has become mainly smoke-and-mirrors.

Yes that is definitely the case right now.

It’s an economy built on deficit spending via big government:

https://www.msn.com/en-us/money/markets/americans-grow-increasingly-dependent-on-government-payments/ar-AA1rHcJB?ocid=msedgntp&pc=LCTS&cvid=777684e075c740df9e22ab7f870ce149&ei=145

An old saying has it that he who takes the king’s coin becomes the king’s man. The idea is that rulers expect obedience in return for money disbursed. That has important implications in a country founded on the ideal of independence from intrusive government but whose citizens are increasingly dependent on the public teat. With taxes collected from some repurposed as transfer payments to other members of the public, a growing share of Americans are becoming the king’s men.

“Income from government transfers is the fastest-growing major component of Americans’ personal income,” according to a September report from the bipartisan Economic Innovation Group (EIG). “Nationally, Americans received $3.8 trillion in government transfers in 2022, accounting for 18 percent of all personal income in the United States. That share has more than doubled since 1970.”

Bill.in.PA · 2024-10-04T13:57:08.277Z

There are always more billions for overseas wars and importing more immigrants, but average Americans are screwed.

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ZeroHedge

The Reprehensible Audacity Of FEMA Being Broke

We don’t even have the decency to fake as though we care about our own citizens anymore.