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2023-09-13 Economy

Big Economic News This Week - Starts off bad

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Posted by lord garth 2023-09-13 00:00|| || Front Page|| [11131 views ] Top

#1 US incomes have FALLEN for a third straight year: Surging inflation is blamed for median household income dropping to $74,580 in 2022 - down 2.3% from 2021

Posted by Skidmark 2023-09-13 05:39|| 2023-09-13 05:39|| Front Page Top

#2 Breitbart Business Digest: We Haven’t Had a Year This Bad Since Obama Was President

Posted by Skidmark 2023-09-13 06:37|| 2023-09-13 06:37|| Front Page Top

#3 Feels like the 70s all over again, just stupider.

Posted by DarthVader 2023-09-13 08:13|| 2023-09-13 08:13|| Front Page Top

#4 Ref #2: With the exception of one brief 4 year period, Obama is still president.

If the Biden impeachment actually happens, I suspect discovery will reveal who is actually calling the shots.

Posted by Besoeker 2023-09-13 08:17|| 2023-09-13 08:17|| Front Page Top

#5 for those on Social Security, it looks now like the COLA will be in the neighborhood of 3.5%

unfortunately, health care premiums will likely be up 5-10%

Posted by lord garth 2023-09-13 08:38|| 2023-09-13 08:38|| Front Page Top

#6 below, is the BLS statement this morning. DJ, NASDAQ, etc futures didn't like it
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The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6 percent in August on a seasonally
adjusted basis, after increasing 0.2 percent in July, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 3.7 percent before seasonal adjustment.

The index for gasoline was the largest contributor to the monthly all items increase, accounting for
over half of the increase. Also contributing to the August monthly increase was continued advancementin the shelter index, which rose for the 40th consecutive month. The energy index rose 5.6 percent in August as all the major energy component indexes increased. The food index increased 0.2 percent in August, as it did in July. The index for food at home increased 0.2 percent over the month while the index for food away from home rose 0.3 percent in August.

The index for all items less food and energy rose 0.3 percent in August, following a 0.2-percent
increase in July. Indexes which increased in August include rent, owners' equivalent rent, motor vehicle insurance, medical care, and personal care. The indexes for lodging away from home, used cars and trucks, and recreation were among those that decreased over the month.

The all items index increased 3.7 percent for the 12 months ending August, a larger increase than the 3.2-percent increase for the 12 months ending in July. The all items less food and energy index rose 4.3 percent over the last 12 months. The energy index decreased 3.6 percent for the 12 months ending August, and the food index increased 4.3 percent over the last year.

Posted by lord garth 2023-09-13 08:43|| 2023-09-13 08:43|| Front Page Top

#7 But, measured by "a basket of things nobody actually buys," inflation is below normal. Or so they want you to believe.

Posted by M. Murcek 2023-09-13 10:27|| 2023-09-13 10:27|| Front Page Top

Posted by NoMoreBS 2023-09-13 12:56|| 2023-09-13 12:56|| Front Page Top

#9 We've cut waaaaaaay back on our EV purchases, Carib cruises, and Vegas get-aways.

Posted by Besoeker 2023-09-13 13:41|| 2023-09-13 13:41|| Front Page Top

#10 By 1980 (Reagan era computation methodology:

Posted by NoMoreBS 2023-09-13 14:28|| 2023-09-13 14:28|| Front Page Top

23:20 Thusorong and Tenille5967
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22:58 swksvolFF
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17:24 Mercutio