Members phkrause Posted December 24, 2023 Author Members Share Posted December 24, 2023 Fed’s favorite inflation gauge shows prices rose at 3.2% annual rate in November, less than expected A gauge the Federal Reserve uses for inflation rose slightly in November and edged closer to the central bank’s goal. https://www.cnbc.com/2023/12/22/pce-inflation-november-2023-.html Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted December 27, 2023 Author Members Share Posted December 27, 2023 Americans ramped up spending during the holidays despite some financial anxiety and higher costs NEW YORK (AP) — Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to the latest measure. https://apnews.com/article/holiday-sales-mastercard-spendingpulse-cc87e571ccffbae39110132a4c39a7c9? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted December 30, 2023 Author Members Share Posted December 30, 2023 The US economy is on its final descent to a soft landing After defying recession fears this year, the US economy is forecast by Goldman Sachs Research to easily beat consensus expectations again in 2024. https://www.goldmansachs.com/intelligence/pages/the-us-economy-is-on-its-final-descent-to-a-soft-landing.html? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted December 30, 2023 Author Members Share Posted December 30, 2023 S&P 500 closes little changed Thursday, struggles to reach record: Live updates The S&P 500 finished marginally higher Thursday, closing in on a new all-time high in the penultimate trading day of what’s been a strong year for stocks. https://www.cnbc.com/2023/12/27/stock-market-today-live-updates-dec2728-2023.html Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 3 Author Members Share Posted January 3 Year of American optimism Illustration: Sarah Grillo/Axios American consumer confidence — still bizarrely low given how healthy the economy is — could be set for a substantial rebound in 2024, Axios' Felix Salmon reports. Why it matters: Consumer confidence has historically been a good predictor of whether or not incumbent politicians will be re-elected. A rebound would be good news for President Biden and Democrats. 🖼️ The big picture: The U.S. boasts the strongest economy of any rich nation. The much-predicted 2023 recession failed to appear, employment has remained robust, real wages have been rising, and the outlook for 2024 is similarly healthy. Crime is also down substantially, with homicides falling at a near-record rate in 2023. 🔬 Between the lines: Americans are already showing signs of confidence and prosperity in their spending. They happily shelled out more money than ever on holiday gifts, for instance. 🛥️ People tend to spend a lot — especially on splurges like boats — when they're feeling optimistic about their ability to continue earning good money well into the future, as Axios' Matt Phillips has pointed out. 📊 Reality check: Consumer confidence is measured by surveys. And Republicans will overwhelmingly tell pollsters they have little faith in the economy as long as a Democrat is in the White House. As a result, depressed consumer-confidence numbers could reflect political divisions more than genuine national cheerlessness. The bottom line: There's no good reason for low consumer confidence to continue indefinitely. As Herb Stein's law says: "If something cannot go on forever, it will stop." Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 4 Author Members Share Posted January 4 🏗️ Factory boom Data: Census Bureau via FRED. Chart: Axios Visuals America's spending on new factories is surging, Emily Peck reports for Axios Markets. Why it matters: President Biden's signature legislation — particularly the CHIPs Act and Bipartisan Infrastructure Law — has spurred a "supercycle" of construction spending that's buoying the economy. 🧮 By the numbers: Manufacturing-related construction hit a $210 billion annual rate in November, more than triple the average rate in the 2010s, according to new census data. All that spending is driving an increase in construction hiring. Job openings in construction increased by 43,000 last month, according to Bureau of Labor Statistics data out yesterday — and are up by 111,000 from last year. Contractors are even facing labor shortages in areas with industrial mega projects, Anirban Basu, the chief economist of the Associated Builders and Contractors, said yesterday. 🕶️ What to watch: The surge in construction will eventually translate into a surge in hiring for manufacturing jobs, said Aaron Sojourner, a senior researcher at the W.E. Upjohn Institute for Employment Research. Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 7 Author Members Share Posted January 7 US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength WASHINGTON (AP) — The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American labor market remains resilient even in the face of sharply higher interest rates. https://apnews.com/article/jobs-economy-unemployment-inflation-rates-federal-reserve-ad0fd064a35e8a93bc15eaf6ea982c1c? Unpacking the December jobs report's mixed signals The labor market had plenty of momentum heading into 2024. For American workers, that's welcome news. For central bankers, it might make things a bit more complicated. https://www.axios.com/2024/01/05/december-payrolls-mixed-signals? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 7 Author Members Share Posted January 7 💰 Wage growth is back Data: Center for American Progress. Chart: Danielle Alberti/Axios Visuals Some good news — and the reason why optimism might return to the U.S. in 2024: Real pay hikes have returned, Axios' Felix Salmon reports. Why it matters: 57% of workers are making more money now — after adjusting for inflation — than they were a year ago, the Center for American Progress found. 41% of us have seen a real wage increase of more than 5%. 🔎 Between the lines: Higher wages don't always psychologically offset higher prices. A $20 cocktail is still expensive even after you get a big raise. That's why unhappiness with inflation can linger long after wages have risen. Explore the data ... Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 8 Author Members Share Posted January 8 🕶️ 1 big thing: Biden's new opening Data: FactSet, Bureau of Labor Statistics. Chart: Axios Visuals President Biden's allies see an opening: Americans are now getting an actual pay raise, even after inflation. Why it matters: Rising real — that is, inflation-adjusted — earnings are a primary indication of improving standards of living, Matt Phillips writes for Axios Markets. What's happening: In Saturday's AM, Felix Salmon told us about the return of "real pay hikes." And Jim VandeHei and I reported in yesterday's "Behind the Curtain" that Biden's campaign is counting on voters feeling awesome about the economy by November. 🧮 By the numbers: Average hourly earnings of private sector employees rose at an annual rate of 4.1% last month, according to Friday's job report. That's a smidge higher than the 4% gain in November — and roughly a point above that month's 3.1% rise in annual inflation. 🔎 Behind the scenes: Inside the White House, officials are circulating an estimate that it takes about a year for 50% of the pain of inflation to drop out of consumer sentiment. Axios Macro co-author Neil Irwin tells me the stat to watch is three-month inflation, since it's less volatile than the monthly figure (because of gas prices). The three-month rate was super high from spring '21 until July '22. It's been more moderate since then — and was really low at the end of '23. 💡 Neil's thought bubble: The inflation rate peaked in the summer of '22. But it came down so slowly that people have kept seeing rising prices since then. But they're rising more slowly, and at levels that (especially recently) wouldn't be alarming in isolation. 🥊 Reality check: Don't expect spontaneous parades. From April 2021 to June 2023 — more than two years — inflation was significantly higher than earnings. So workers' standards of living fell sharply. Go deeper: "Behind the Curtain" lays out Biden insiders' theory of how they win ... Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 11 Author Members Share Posted January 11 US adults across racial groups agree the economy is a top priority, AP-NORC and AAPI Data polls show WASHINGTON (AP) — Americans of various racial backgrounds largely agree that the government should focus on the economy and foreign policy issues in 2024, but recent polling shows that views among racial groups diverge on some high-profile topics, including racism and immigration. https://apnews.com/article/poll-race-ethnicity-economy-immigration-foreign-policy-dbf7ec76f8b1caa2ba44a3078ca2e6fe? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 12 Author Members Share Posted January 12 Consumer prices rose more than expected in December, new inflation data shows Inflation pressures reignited as energy and shelter prices rose: the Consumer Price Index rose 0.3% in December, the Labor Department said on Thursday. https://www.axios.com/2024/01/10/inflation-cpi-december? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 14 Author Members Share Posted January 14 🛒 Bad vibes on Aisle 4 Data: Bureau of Labor Statistics. Chart: Axios Visuals Americans are furious about high inflation, according to the Axios Vibes survey by The Harris Poll. But economists say high inflation has mostly been vanquished. Both are correct, Axios chief economic correspondent Neil Irwin writes. 💡 Between the lines: If you look at the level of prices, they're way up since 2020. But if you look at the rate at which prices are changing, it has returned to fairly normal levels. This intuition is crucial to understanding this confusing moment for inflation trends and public opinion around them. 🔎 Zoom in: Suppose, in December 2019, you had a weekly grocery budget of $100. At the end of 2020 your weekly grocery bill would have risen to $103.97, based on Axios' analysis of government data. Not ideal, but manageable. But over the course of 2021, those prices really took off, to $110.78 that December. Then they kept soaring, bringing your grocery bill to $123.88 at the end of 2022. In 2023, the price of "food at home" (as the Bureau of Labor Statistics calls it) kept rising — so that weekly bill was $125.51 last month. Read on ... Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 14 Author Members Share Posted January 14 👀 How America's boom states could shape the campaign Source: Bureau of Economic Analysis; Map: Deena Zaidi/Axios Visuals The 2024 campaign will unfold amid a striking economic phenomenon: Soaring growth rates and ultra-low levels of joblessness in the South and Mountain West, regions that include swing states and several that lean Republican. Why it matters: The new regional booms help explain why many Americans say they're miserable about the national economy — but are decidedly more upbeat about how things seem closer to home, Axios' Courtenay Brown reports. In the new Axios Vibes survey, more than half the respondents rated the national economy as weak. But a smaller share — 38% — said the same about their community and region. The intrigue: Republican respondents were more likely to say the U.S. economy was weaker than their local economies. Red states such as Texas, Tennessee, South Carolina and lean-red Florida are among the biggest beneficiaries of the new boom. That reflects the scope of the challenge ahead for President Biden as he touts his economic record to a skeptical public: Some of the biggest improvements in the economy have come in places unlikely to support him. The good news for the Democratic president: Nevada and Arizona — politically divided swing states that will be crucial in the presidential race — are soaring as well. What's happening: Pandemic-era migration trends, private investment, an influx of federal dollars and more have helped create the new superstar areas. The boom was just beginning to take shape during the 2020 election. Keep reading 💰 Bonus: The economy in 4 charts Data: FRED, Census Bureau; Charts: Erin Davis/Axios Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 14 Author Members Share Posted January 14 🌽 The view from Iowa The storefront of Beaverdale Books. Photo: Courtesy of Beaverdale Books DES MOINES, IOWA — The last year has felt "as close to normal" at Beaverdale Books since COVID-19 forced the store to close for 13 months in 2020-21, says Hunter Gillum, co-owner of the Iowa bookstore. Why it matters: As the GOP presidential candidates make their last push to win the Iowa caucuses tomorrow, all of them are arguing that Democratic policies have been poor for the economy, Axios Des Moines' Linh Ta reports. But Beaverdale Books is among 64% of other U.S. small businesses that say their operations are in good health, according to Q4 results from the U.S. Chamber of Commerce. The store prepped for the worst "doom and gloom" in 2023 and has been pleasantly surprised on the other side, Gillum says. Zoom in: For Gillum's business, at least, things have been good this last year for the established independent bookstore. "The worst outcomes" of things didn't churn out this last year, like a potential UPS strike, Gillum says. Rent at their one-suite business did not increase. The cost of office supplies went up, but not much. They're steadily raising wages for their six part-time employees to $15 an hour. Keep reading Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 18 Author Members Share Posted January 18 💸 Upbeat America Illustration: Sarah Grillo/Axios Americans overall have a surprising degree of satisfaction with their economic situation, Axios' Felix Salmon writes from the Axios Vibes survey by The Harris Poll. Why it matters: That's in spite of dour views among certain subsets of the country — and in contrast to consumer sentiment polls that remain stubbornly weak, partly because of the lingering effects of 2022's inflation. 🧮 By the numbers: 63% of Americans rate their current financial situation as being "good," including 19% who say it's "very good." Outlooks for the future are also rosy. 66% think 2024 will be better than 2023. 85% of us feel we could change our personal financial situation for the better this year. 📊 Stunning stat: 77% of Americans are happy with where they're living — including renters, who've seen housing costs surge over the last few years. A substantial majority of renters are happy renting, with 63% of them saying they're not interested in owning a home and having a mortgage. The reality is similarly upbeat: Rents finally started falling rather than rising recently. Read on. Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 18 Author Members Share Posted January 18 Biden will promote internet access in North Carolina, a state he hopes to win in the 2024 election WASHINGTON (AP) — President Joe Biden is going to North Carolina on Thursday to highlight $82 million in new investments that would connect 16,000 households and businesses to high-speed internet. Biden’s reelection campaign has made winning North Carolina and its 16 electoral votes one of its top priorities in this year's presidential election. The Democrat narrowly lost the state in 2020 by 1.34 percentage points to then-President Donald Trump, the current Republican front-runner in what will likely be a political rematch in 2024. The Democratic president plans to use his stop in the state capital of Raleigh to stress that his administration is connecting poorer communities and businesses to the digital economy. Polling shows that the economy has been a weakness for Biden, a reflection of inflation hitting a four-decade high in June 2022. Easing inflation rates since then have yet to pull Biden's approval ratings back to their levels at the start of his presidency. One way the administration says it has lowered costs for families is by providing discounted internet service to 880,000 households in North Carolina. The administration is committing a total of $3 billion to build out and fund internet connections in North Carolina. Estimates from the administration are that an additional 300,000 of the state's residents will be able to access the internet by the end of 2026. The administration is also calling on Congress to renew the Affordable Connectivity Program, which is set to exhaust its funding in April. The program has enabled 22 million people to save $30 to $75 a month on their internet bills, the administration says. Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 19 Author Members Share Posted January 19 America's startup engines Data: Census Bureau. Map: Alice Feng/Axios The Midwest and Mountain West are America's latest new-business hotspots, Axios' Alex Fitzpatrick and Alice Feng report. Why it matters: New business applications — which rose 7.4% nationally — are an excellent indicator of economic sentiment. Few people try to start a company when they foresee bad times ahead. 🏪 By the numbers: Colorado (+115%), North Dakota (+37.7%) and Iowa (+33.7%) saw the biggest jumps in new business applications last year, according to U.S. Census Bureau data. The regions seeing the biggest growth in new businesses also tend to be the ones with the biggest population increases. The intrigue: Colorado temporarily lowered the cost of filing for a new business from $50 to $1 between mid-2022 and mid-2023 — in line with a broader billion-dollar statewide push to encourage new business creation and draw existing employers to the Centennial State. What we're watching: New businesses with women, Black, Latino, Asian and LGBTQ owners all in January-July 2023 compared to the same period in 2022, Axios Closer co-author Hope King reports from separate Yelp data. Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 21 Author Members Share Posted January 21 The S&P 500 just closed at a new all-time high The S&P 500 closed at a new all-time high on Friday. https://www.axios.com/2024/01/19/us-stocks-high-market-record? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 22 Author Members Share Posted January 22 📈 1 big thing: A Biden bounce! Data: FactSet. Chart: Axios Visuals Three major economic gauges are suddenly marching in the right direction, giving President Biden's campaign a sunny opening after months of gloom. Why it matters: Biden can talk all he wants about the big-picture benefits of Bidenomics. People weren't feeling it, dragging down his polls. Yesterday was one of the happier days for the White House in some time: Record stocks: The S&P 500 and Dow industrials set new highs, confirming we're in a full-on, horns-out, snorting bull market. The S&P 500 closed nearly 1% higher than the previous record, on Jan. 3, 2022. (Go deeper with Axios' Matt Phillips) Strongest consumer sentiment in years: A University of Michigan index that tracks consumer sentiment (graph above) has surged more than 28% since November. Since the late 1970s, the only other period of such a rapid two-month turnabout came in March 1991, after the U.S. victory in the first Gulf War. (Go deeper with the prolific Matt Phillips) Inflation sinking: Economists say high inflation has mostly been vanquished. Retail figures this week showed jolly holiday spending that exceeded optimistic forecasts, and signaled Americans are confident enough to keep spending. (Go deeper with Axios' Courtenay Brown) Lead stories of today's Wall Street Journal and Washington Post. 💬 When I asked Ron Klain, Biden's former chief of staff, about these numbers, he referenced a report from Davos by the N.Y. Times' Andrew Ross Sorkin, saying global business leaders privately expect Donald Trump would win a rematch with Biden. "I think the whining titans in Davos are definitely behind the curve," Klain texted. "People always underestimate Joe Biden and they've done it again!" 🔎 Between the lines: These three measures are all pretty related, Axios business editor Kate Marino tells me: Inflation coming down convincingly helps lift the stock market — and both of those help lift consumer sentiment. 🥊 Reality check: Trump doesn't need a bad economy to win, as we saw in 2016. Your perception of the economy used to influence your political leanings. Nowadays, Americans' political leanings determine how they perceive the economy. 🪞 Flashback Axios' Felix Salmon can take a bow for his pieces on Jan. 3 and Jan. 17 pointing out that Americans are getting more optimistic — and have reason to be. 🔮 What's next: "This is the hopeful scenario for Biden," David Axelrod, former President Obama's political architect, told me. "Voter sentiment generally lags economic statistics. There are still 10 months until the election. Attitudes on the economy may yet shift in Biden's direction by the time Americans cast their ballots." Axe added: "Can you imagine how Trump would be crowing if he had these stats?" I asked if Biden should do more of that. "No. I don't think behaving like Trump beats Trump," Axelrod replied. "Better to let people know that you're focused on them and not yourself. On making progress rather than grabbing credit." Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 22 Author Members Share Posted January 22 💰 Scoop: Biden's economic offensive With consumer sentiment surging and the stock market setting record highs, Treasury Secretary Janet Yellen will travel to the Midwest this week to promote President Biden's economic record and take a rare shot at Trump's approach, Axios' Hans Nichols reports. Why it matters: Team Biden has spent the last two years playing defense on the economy. With economic numbers and "vibes" finally improving — including a 28% jump in consumer sentiment since November — officials are now going on offense. The big picture: The White House wants to turn November's election into a choice between Biden and Trump. They're deploying Yellen to Middle America to help set the stage for the economic argument — and contrast — that Biden will make all year. "In the Trump administration, the idea of doing anything to fix it was a punchline," Yellen will say, according to excerpts obtained by Axios. "But this administration has delivered." "The Bipartisan Infrastructure Law is a $1.2 trillion investment in our nation's infrastructure," Yellen will say. "It is bringing new opportunities within reach for middle-class families." Driving the news: Yellen will make her case to the Chicago Economic Club on Thursday, the same day the Commerce Department will announce U.S. GDP for 2023. Yellen, who rarely mentions the Trump administration, will draw implicit — and explicit — comparisons between the economic values of Biden and Trump. She will specifically call out Trump's signature tax deal — parts of which expire at the end of 2025 — and argue it benefited corporations at the expense of the middle class. She will also note that 2023 didn't experience the recession that many economists predicted and that the unemployment rate has been under 4% for 23 months. Keep reading Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 22 Author Members Share Posted January 22 💰 Charted: A record you don't want Source: International Monetary Fund. Chart: Deena Zaidi/Axios Visuals America's debt surged during the pandemic and recently passed $34 trillion — a record even when accounting for inflation, Axios' Deena Zaidi writes. 🚨 Stunning stat: In the last century, the U.S. federal debt has risen from an inflation-adjusted $403 billion in 1923 to $33.17 trillion in 2023. The U.S. debt-to-GDP ratio surpassed 100% in 2013 and currently stands at 123%. Virtually every other major government across the world has also aggressively tapped into global debt markets — including Japan, which has the highest debt-to-GDP ratio at 255%. 👀 What to watch: As Washington bickers, the long-term solvency of entitlement programs such as Medicare and Social Security remains an open question. Another fight over the debt ceiling looms early next year. An agreement reached to raise it last May expires in January 2025. Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 25 Author Members Share Posted January 25 Americans’ economic outlook brightens as inflation slows and wages outpace prices WASHINGTON (AP) — After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden’s political fortunes. https://apnews.com/article/economy-inflation-prices-consumers-income-election-outlook-c00653a661ca4b1420cc30a3e6f7b253? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 26 Author Members Share Posted January 26 U.S. economy booms with 3.3% growth in final quarter of 2023 The U.S. economy expanded at a 3.3% annualized pace in the final quarter of 2023, the Commerce Department said on Thursday. https://www.axios.com/2024/01/25/us-gdp-fourth-quarter-economy-growth? Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 27 Author Members Share Posted January 27 📊 It's official: Wall Street was wrong Data: Factset. Chart: Tory Lysik/Axios Visuals Nearly every economist on and off Wall Street was all but certain that the U.S. would face a sharp slowdown in economic growth last year, Axios' Matt Phillips writes. It never happened. 🔬 Zoom in: Yesterday's blistering GDP report indicated that the economy might've achieved an elusive soft landing in 2023. The economy expanded at a 3.3% annualized rate in the fourth quarter, well above what forecasters expected. The consensus forecast for annual GDP growth from Wall Street economists (charted above) collapsed at the end of 2022 — only to rebound toward the end of last year. Go deeper: Inside the gangbuster GDP report. Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Members phkrause Posted January 28 Author Members Share Posted January 28 It’s not the vibes giving us a sour economic mood; it’s the monopolists In recent months a lot of economic commentators have been flabbergasted that despite low unemployment, steady job growth and easing inflation, the public mood about the economy remains dour. https://ncnewsline.com/2024/01/24/its-not-the-vibes-giving-us-a-sour-economic-mood-its-the-monopolists/? ps:Exactly!! Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
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