Gas- $3.99 a gallon

[MillauFr]

And so will the economy and lots of jobs.

Actually that isn't happening. A massive number of new jobs just reported. Unemployment down to 3.5% and the number of people working has passed pre-pandemic levels.

 

[mom2rtk]

Actually that isn't happening. A massive number of new jobs just reported. Unemployment down to 3.5% and the number of people working has passed pre-pandemic levels.

Not yet. Jobs are typically the last piece of the puzzle to fall, after demand falls. We'll have to check back in about 6 months to see how this goes.

 

[Sinder]

Actually that isn't happening. A massive number of new jobs just reported. Unemployment down to 3.5% and the number of people working has passed pre-pandemic levels.

Give it time the recession just started.

 

[MillauFr]

Not yet. Jobs are typically the last piece of the puzzle to fall, after demand falls. We'll have to check back in about 6 months to see how this goes.

This was the first sentence of the article in the Wall St. Journal... Do you think it is not accurate?

"The economy has now recouped the number of jobs lost in the wake of the pandemic. Gains were widespread: Employers in leisure and hospitality added jobs at a solid clip, and payrolls grew in health care and professional and business services."

 

[mom2rtk]

This was the first sentence of the article in the Wall St. Journal... Do you think it is not accurate?

"The economy has now recouped the number of jobs lost in the wake of the pandemic. Gains were widespread: Employers in leisure and hospitality added jobs at a solid clip, and payrolls grew in health care and professional and business services."

I never said that's inaccurate. But when you have a recession, demand falls, and eventually employers have to cut payroll. That comes later in the game.

 

[MillauFr]

Give it time the recession just started.

Most places are desperate to get people. I can't see widespread layoffs when many companies were and still are struggling to keep up with demand.

 

[MillauFr]

I never said that's inaccurate. But when you have a recession, demand falls, and eventually employers have to cut payroll. That comes later in the game.

But consumer demand isn't falling. It is still increasing.

 

[MillauFr]

This economy is very odd to say the least. When in history have we seen surging inflation while the price of gold is stagnating? Isn't gold supposed to be an inflation hedge?

 

[mom2rtk]

Most places are desperate to get people. I can't see widespread layoffs when many companies were and still are struggling to keep up with demand.

You're still talking about today, assuming it's all going t rem.

 

[Sinder]

Most places are desperate to get people. I can't see widespread layoffs when many companies were and still are struggling to keep up with demand.

You can google and see layoffs are starting. This is the beginning, lets see what the numbers are after the next quarter or two.

But consumer demand isn't falling. It is still increasing.

People are living on credit, household credit card debt is up 13% because people don’t have the cash to pay for inflation
Those bills are going to come due and people will have to cut discretionary spending.

 

[Ms.Minnie]

It was reported today that Walmart is starting layoffs of it's corporate employees saying consumers had pulled back on discretionary spending due to inflation. This is not a good thing, we were in a Walmart about two weeks ago and they only had two checkers open, and all the self-checkouts lines were full and there was a line just to get into that area...

 

[Cannot_Wait_4Disney]

Perhaps they are unhappy with greater than 9% inflation on top of a recession.

If they're that upset about a "recession" where we've gained over 2.7 million jobs, how come they weren't upset about the worst jobs record since Herbert Hoover with massive job losses? And why are they pining to go back to that? Why would they want to go back to a time when almost everything was bad because one thing is bad? Or do they just have selective memories about what else was going on when gas was dirt cheap and what else is going on now that it isn't.
However, the people I'm talking about are not really unhappy about those things. In fact, they're crowing about em. But they do want to make others unhappy about them. Why is it they're all over the airwaves when anything even the least bit bad happens, but when something good comes along....

We see the same thing here from certain individuals. Gas goes up, all over the board with blame. Gas goes down, No threads started but if they do come up they'll be on them trying to make sure no credit is given. Lumber goes up, all over the board. Lumber goes down. Nothing. Anything bad, plastered all over the board. Good news.... Nothing.
Don't worry. You don't need to answer my questions. I've already figured out why.

Record high inflation
Recession
Companies announcing layoffs
$4.40 a gallon gas instead of $5.10
Grocery bill up 15-20%
We should all be very very glad

So you're not glad about 2.5 million jobs being created over this so-called "recession?"
Record inflation year to year is 23.70 percent in 1920. From 79-80 it was 13.5%. We're not to either of those levels.
The national average on Gas is $4.14 according to AAA. That's down from a high of $5.02. Diesel is down too. Why would anyone be unhappy about saving .69 cents a Gallon for gas from a month ago and Truckers are saving 52 cents a gallon in Diesel over just a month ago.

This is crazy talk; I don't think anyone wants things to get worse.

Unemployment was up so high 18 months ago due to pandemic and the world being shut down. The US unemployment rate in 2019 was 3.5% prior to pandemic. The US is no longer shut down, so people have their jobs back which equals the unemployment rate going down.

Yes, gas is down, demand is down. I have only left my home one time this week, this is reflective to many people making better use of their driving needs. Consolidating their errands and getting the most out of each trip they take in their cars. It's the smart thing to do. Yes, the cost to transport goods to stores is a key component in the cost of goods, that's basic economics.

Yes we got Ayman al-Zawahiri, that's a good thing but look where we got him. That's not a good thing.

To your last point, if you say so...but there's still lots more to be concerned about.

They most assuredly do want things to get worse. They are in fact giddy. And we all know the reason. Of course when called on it they will protest loudly and say things like you wound me and how could you think that, and that's crazy. But that's only because they've realized their optics look horrendous.

And so will the economy and lots of jobs.

Take a gander at the job report freshly off the presses. We just added 528,000 more jobs in a month. WEEEEEEEEE. Unemployment down to 3.5%. We had already surpassed the number of jobs before the pandemic in June so that's not news again to me but may be to people that watch Fox. So that's 3.2 million jobs created in this "recession" of yours now. Average hourly earnings also rose by .15 pushing the increase to 5.2%.

Not yet. Jobs are typically the last piece of the puzzle to fall, after demand falls. We'll have to check back in about 6 months to see how this goes.

According to you we've already been in a recession. That's two quarters or 6 months. So this is in fact your 6 month check. And now you want 6 MORE months?
I already know what the answer is going to be in 6 months.
If things are fine: You won't bring it up. But if it is brought up Well it's really this thing over here. We're going to Hades in a hand basket.
If we lose but one job over the next 6 months leaving a 3,199,199 net gain..." I told you so."
If job growth slows but we don't lose any...."I told you so."


I
"The economy is not falling into recession," says Brian Bethune, an economist at Boston College. "It is actually picking up speed as demand for services accelerates in a post Covid-19 environment."

Here's Mr. Bethune's Background.

Professor Bethune is a professional financial economist and author with a broad range of experience in macroeconomic forecasting, applied economics, finance, and business-cycle analysis. He conducts research on international macroeconomic business cycles, and financial markets, and has been the recipient of numerous forecast accuracy awards from the Federal Reserve Bank of Chicago, the Dow Jones Marketwatch Survey, and Caterpillar Business Intelligence.
An expert U.S. financial economist, Bethune has direct experience with comprehensive analysis and forecasting of the U.S. economy, including industry specific and economy-wide cyclical pressures, as well as monetary and fiscal policies.
Bethune also has a wide range of consulting, banking and commercial experience, including risk management processes in banking and corporate situations, and scenario planning. He is a member of the Harvard Group of Industrial Economists.

 

[mrodgers]

We paid $5.49 for premium this weekend while diesel is almost $6.00.

It's weird, all of a sudden everyone has their premium price only $0.20 more than 87. I haven't seen less than a $0.70 gap since 2007. There are a handful still at $5.39 for premium but most places it's now $4.49 for 87 and $4.69 for premium.

Just so everyone understands, the gas prices aren't down $0.50. They are still up $2.75.

 

[barkley]

It was reported today that Walmart is starting layoffs of it's corporate employees saying consumers had pulled back on discretionary spending due to inflation. This is not a good thing, we were in a Walmart about two weeks ago and they only had two checkers open, and all the self-checkouts lines were full and there was a line just to get into that area...

my understanding from what i've read and seen covered in the media is that the 'suits' at walmart grossly misjudged what post pandemic spending habits with consumers would entail. an overabundance of stock that is undesirable combined with people shifting their spending from discretionary items to necessities has resulted in walmart having stock they can't move/their profits dropping dramatically (apparently their lowest profit margin is in their current highest selling category-groceries).

as far as checkout lines go-i haven't been to a walmart in several years predating the pandemic/current economic times that has had more than a couple of what they now have signage identifying as 'assisted checkout'. all of the renovations of the dozen or so walmarts in our region have entailed eliminating checker manned checkouts in favor of self-service. for that matter i can think of 4 national chain grocery stores we have around here that have done the same.

 

[Ms.Minnie]

So you're not glad about 2.5 million jobs being created over this so-called "recession?"
Record inflation year to year is 23.70 percent in 1920. From 79-80 it was 13.5%. We're not to either of those levels.
The national average on Gas is $4.14 according to AAA. That's down from a high of $5.02. Diesel is down too. Why would anyone be unhappy about saving .69 cents a Gallon for gas from a month ago and Truckers are saving 52 cents a gallon in Diesel over just a month ago.

They most assuredly do want things to get worse. They are in fact giddy. And we all know the reason. Of course when called on it they will protest loudly and say things like you wound me and how could you think that, and that's crazy. But that's only because they've realized their optics look horrendous.

Let's see what a real economist says shall we?
"The economy is not falling into recession," says Brian Bethune, an economist at Boston College. "It is actually picking up speed as demand for services accelerates in a post Covid-19 environment."

To your first point, gas is still costing me $2 more per gal even with a .69 cent savings from a month ago.

To your second point, maybe the people you know are "giddy" but not the people I know. Maybe our countries enemies are "giddy", but I wouldn't think that's the case with the people living in this country. As far as who protest the loudest, I think we both know the answer to that.

As to your one economist, that is just one voice in a sea of many. For that one voice there are many more voices (economists) that don't agree.

 

[sam_gordon]

Just so everyone understands, the gas prices aren't down $0.50. They are still up $2.75.

From when? At the start of the pandemic when people were advised to stay home? Don't go to work, don't go on vacation, only shop if you absolutely have to? $4.69-$2.75 would be $1.91. Gas hasn't been consistently below $2/gallon since ~2005.


Source: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m

 

[JaxDad]

They value their tribe being in power more than they value prosperity.

 

[Sinder]

If they're that upset about a "recession" where we've gained over 2.7 million jobs, how come they weren't upset about the worst jobs record since Herbert Hoover with massive job losses? And why are they pining to go back to that? Why would they want to go back to a time when almost everything was bad because one thing is bad? Or do they just have selective memories about what else was going on when gas was dirt cheap and what else is going on now that it isn't.
However, the people I'm talking about are not really unhappy about those things. In fact, they're crowing about em. But they do want to make others unhappy about them. Why is it they're all over the airwaves when anything even the least bit bad happens, but when something good comes along....

We see the same thing here from certain individuals. Gas goes up, all over the board with blame. Gas goes down, No threads started but if they do come up they'll be on them trying to make sure no credit is given. Lumber goes up, all over the board. Lumber goes down. Nothing. Anything bad, plastered all over the board. Good news.... Nothing.
Don't worry. You don't need to answer my questions. I've already figured out why. They value their tribe being in power more than they value prosperity.




So you're not glad about 2.5 million jobs being created over this so-called "recession?"
Record inflation year to year is 23.70 percent in 1920. From 79-80 it was 13.5%. We're not to either of those levels.
The national average on Gas is $4.14 according to AAA. That's down from a high of $5.02. Diesel is down too. Why would anyone be unhappy about saving .69 cents a Gallon for gas from a month ago and Truckers are saving 52 cents a gallon in Diesel over just a month ago.



They most assuredly do want things to get worse. They are in fact giddy. And we all know the reason. Of course when called on it they will protest loudly and say things like you wound me and how could you think that, and that's crazy. But that's only because they've realized their optics look horrendous.


Take a gander at the job report freshly off the presses. We just added 528,000 more jobs in a month. WEEEEEEEEE. Unemployment down to 3.5%. We had already surpassed the number of jobs before the pandemic in June so that's not news again to me but may be to people that watch Fox. So that's 3.2 million jobs created in this "recession" of yours now. Average hourly earnings also rose by .15 pushing the increase to 5.2%.



According to you we've already been in a recession. That's two quarters or 6 months. So this is in fact your 6 month check. And now you want 6 MORE months?
I already know what the answer is going to be in 6 months.
If things are fine: You won't bring it up. But if it is brought up Well it's really this thing over here. We're going to Hades in a hand basket.
If we lose but one job over the next 6 months leaving a 3,199,199 net gain..." I told you so."
If job growth slows but we don't lose any...."I told you so."
Your purpose is political. It's 100% completely transparent though you try to hide it.

Let's see what a real economist says shall we?
"The economy is not falling into recession," says Brian Bethune, an economist at Boston College. "It is actually picking up speed as demand for services accelerates in a post Covid-19 environment."

Here's Mr. Bethune's Background.

Professor Bethune is a professional financial economist and author with a broad range of experience in macroeconomic forecasting, applied economics, finance, and business-cycle analysis. He conducts research on international macroeconomic business cycles, and financial markets, and has been the recipient of numerous forecast accuracy awards from the Federal Reserve Bank of Chicago, the Dow Jones Marketwatch Survey, and Caterpillar Business Intelligence.
An expert U.S. financial economist, Bethune has direct experience with comprehensive analysis and forecasting of the U.S. economy, including industry specific and economy-wide cyclical pressures, as well as monetary and fiscal policies.
Bethune also has a wide range of consulting, banking and commercial experience, including risk management processes in banking and corporate situations, and scenario planning. He is a member of the Harvard Group of Industrial Economists.

At first I actually thought your responses were serious then I realized that you just wrote the best satire I've read in a long time. Thanks for the entertainment today.

 

[disneychick0412]

$3.25 a gallon here in Western Kentucky. I think the highest it got up to was $4.99.

 

[Cannot_Wait_4Disney]

View attachment 690964

Well I was giddy over the death of Osama Bin Laden and in a perfect world I shouldn't have been. But given the world is a better place without him in it, I hope you'll cut me some slack on that transgression.