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Topic: How do you think the US economy is doing right now?

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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #14 on: July 07, 2024, 10:57:38 AM »
Quote from: Cincydawg on July 07, 2024, 10:49:43 AM
I was bored and depressed.  Each day driving in was awful.  I had no real job, was doing nothing remotely useful to anyone, and had no outs.  And they replaced me with TWO people, no kidding, promoted one of them to my level.  I was all astonishment, but my "boss" was interested in building an empire, one that did nothing of value.

It was all in the budget each year so nobody cared.

I did have a rather entertaining exit interview.  I would have blown it off, but I thought it might be required somehow to get the bonus.  So I went.
That was her. They did not replace her. There was no exit interview or bonus.

She could have "worked" from home for another 4 years and made a ton more money, which would have been close to another $ Million or so.

We never touched her paycheck - we lived on mine.

It would be nice to have that additional money in the bank right now.
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FearlessF

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Re: How do you think the US economy is doing right now?
« Reply #15 on: July 07, 2024, 10:59:44 AM »
additional money is always nice

glad I found this job

not bored or depressed anymore
not oppressed by a poor boss

enjoy my job now
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Cincydawg

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Re: How do you think the US economy is doing right now?
« Reply #16 on: July 07, 2024, 11:08:55 AM »
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #17 on: July 07, 2024, 11:13:12 AM »


https://www.wsj.com/articles/blue-state-exodus-irs-data-income-7c878e40?st=sp9vfvqfk55sa5f&reflink=desktopwebshare_permalink
https://www.wsj.com/articles/blue-state-exodus-irs-data-income-7c878e40?st=sp9vfvqfk55sa5f&reflink=desktopwebshare_permalink
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OrangeAfroMan

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Re: How do you think the US economy is doing right now?
« Reply #18 on: July 07, 2024, 03:51:14 PM »
Quote from: 847badgerfan on July 07, 2024, 11:13:12 AM
[img width=500 height=288.996]https://i.imgur.com/fytZXaY.png[/img]

https://www.wsj.com/articles/blue-state-exodus-irs-data-income-7c878e40?st=sp9vfvqfk55sa5f&reflink=desktopwebshare_permalink
https://www.wsj.com/articles/blue-state-exodus-irs-data-income-7c878e40?st=sp9vfvqfk55sa5f&reflink=desktopwebshare_permalink
Go Gators?
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Cincydawg

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Re: How do you think the US economy is doing right now?
« Reply #19 on: July 07, 2024, 05:51:04 PM »
I've been watching various warning signs since around 2012.  Of course I didn't see COVID coming and its impact in time, and didn't try to do anything.  The yield curve has been inverted for so long it's not even discussed any more, same with the debt, (deficits get some play at times).  Higher interest rates sending us into recession?  Not yet.  Consumer spending slowing down?  That seems to be happening.  Consumer credit card debt through the roof?  Yup.  Housing prices unontainable?  Yup.

I've thought we'd see a recession "inside a year" for so long now I no longer think that way, which means, well ....
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Honestbuckeye

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Re: How do you think the US economy is doing right now?
« Reply #20 on: July 08, 2024, 06:46:58 AM »
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #21 on: July 08, 2024, 09:17:40 AM »
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Cincydawg

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Re: How do you think the US economy is doing right now?
« Reply #22 on: July 08, 2024, 11:29:17 AM »
Real median income has been stressed, credit card debt is up, spending is finally lessening.

It's another warning sign of course.
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medinabuckeye1

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Re: How do you think the US economy is doing right now?
« Reply #23 on: July 08, 2024, 11:42:33 AM »
As part of my job I track local Municipal Income Tax receipts and there is a clear softening. 

It is somewhat masked by inflation because at this point you need at least 3-5% just to break even. Four or five years ago 3-5% growth was GREAT, now that is basically zero and zero is negative. 
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Temp430

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Re: How do you think the US economy is doing right now?
« Reply #24 on: July 08, 2024, 12:18:24 PM »
Need to cut taxes and I don't mean just decreasing the forecast budget increase a bit.  Like 30% across the board to start so roads out of DC look like Moses leading Israel out of Egypt.
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NorthernOhioBuckeye

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Re: How do you think the US economy is doing right now?
« Reply #25 on: July 09, 2024, 01:59:15 PM »
Quote from: Temp430 on July 08, 2024, 12:18:24 PM
Need to cut taxes and I don't mean just decreasing the forecast budget increase a bit.  Like 30% across the board to start so roads out of DC look like Moses leading Israel out of Egypt.
Need to cut government spending, like 30% for starters. If I could, I would go through the Fed deptments and have everyone stand in line and number off 1 to 3 and fire all the threes. For those remaining, tell them we do this again next month. 
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #26 on: July 09, 2024, 02:55:24 PM »
Quote from: NorthernOhioBuckeye on July 09, 2024, 01:59:15 PM
Need to cut government spending, like 30% for starters. If I could, I would go through the Fed deptments and have everyone stand in line and number off 1 to 3 and fire all the threes. For those remaining, tell them we do this again next month.
And we would not notice a difference at all.

Remember the Government shutdown?

Yeah, me neither.
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Cincydawg

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Re: How do you think the US economy is doing right now?
« Reply #27 on: July 09, 2024, 03:10:51 PM »
Cutting spending by a third sounds nice, but a LOT of government spending is mandatory and cannot be cut, no matter what, things like debt service.

The largest nonmandatory spending is for defense.  The other spending items are relatively small potatoes, usually under $100 billion (which is a rather large tater).
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