US Economy thread

[MU82]

Back to the economy.  S&P 500 now at 5,000 +.  By my calculation that's a 5.38% gain already this year and we're just in the first full week of Feb.  I hope the market is not getting ahead of itself, but so far earnings seem to be supporting.  I guess it's just a waiting game for now to see how things pan out, but for 2024 so far so good.

The stock market isn't the economy, but I do agree that, in general, the U.S. economy is solid.

[4everwarriors]

Huh, da ekonowmee iz dung, hey?

[MU82]

From Seeking Alpha:

Maybe it was the prevalence of stock-trading apps combined with stimulus checks, but adults under 40 years old saw their wealth rise rise more than middle-aged or older adults since 2019, according to study by the Federal Reserve Bank of New York's Liberty Economics.

For individuals 39 and younger, wealth surged by a whopping 80%. Contrast that with those 40-54, which saw wealth increase by 10% and those 55 and over, which logged in a 30% gain.

Financial assets contributed the most to the increase. For those under 40, the real value of their financial assets rose more than 50% between 2019 and 2023. The 40-54 group saw only a 3% rise, and the over-50 cohort experienced a 20% boost.

https://seekingalpha.com/news/4065233-younger-adults-see-wealth-rise-the-most-since-the-pandemic-new-york-fed?mailingid=34314133&messageid=2900&serial=34314133.26783&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=34314133.26783

[MU Fan in Connecticut]

This is intriguing.



https://www.businessinsider.com/us-economy-faster-growth-ozempic-glp-1-weight-loss-drugs-2024-2?amp


The more Americans that take Ozempic, the faster the US economy will grow, Goldman Sachs says
Matthew Fox Feb 23, 2024, 10:22 AM ET

* The US economy will see a surge in growth as more people start to take GLP-1 weight loss drugs.
* Goldman Sachs forecasted that US GDP would jump by 1% if 60 million Americans took a GLP-1 drug.
* "The main reason we see economic upside from healthcare innovation is that poor health imposes significant economic costs," Goldman Sachs said.

[MU82]

From the AP:

NEW YORK (AP) — This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday.

The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association for Business Economics. That's up from the 1.3% that economists from universities, businesses and investment firms predicted in the association's prior survey, which was conducted in November.

It's the latest signal of strength for an economy that's blasted through predictions of a recession.

https://apnews.com/article/us-economy-recession-forecasters-strength-ed49d9bfa9a26b6301065b990169d387?user_email=6647dfa7189f748384d7389910f7b584c6fcfc35ae990102964c7e826d4175c7&utm_medium=Morning_Wire&utm_source=Sailthru_AP&utm_campaign=Morning%20Wire_26%20Feb_2024&utm_term=Morning%20Wire%20Subscribers

[4everwarriors]

Sorry, the economy blows. Lies, lies, and more lies, hey?

[The Sultan]

Sorry, the economy blows. Lies, lies, and more lies, hey?

I know you desperately want it to be, but it is actually in really good shape.

[Uncle Rico]

I know you desperately want it to be, but it is actually in really good shape.

His children need to have an intervention.  He's another one perilously close to being lost to a world of Fox News

[The Sultan]

Not to mention, part of the reason the economy is in good shape is due to the Covid relief that Trump's administration quickly approved. But he never seems to campaign on that...or the vaccine...

[TSmith34, Inc.]

His children need to have an intervention.  He's another one perilously close to being lost to a world of Fox News

Close? This dope deeply believes that Obama is running the White House, vaccines are worse than a deadly virus, Russian disinformation is actually real, and apparently that objective data are "lies".

Just another broken old fool consumed by Kelly Anne's alternative facts.

[4everwarriors]

I know you desperately want it to be, but it is actually in really good shape.

Just spent $54.00 for half a tank. Its an election year, so let's watch it play out , aina?

[The Sultan]

First of all, WTF are you driving?

Second, I never realized that the price of gas = the economy.

[4everwarriors]

First of all, WTF are you driving?

Second, I never realized that the price of gas = the economy.

Here's Econ 101...in spite of BO's push for a "green" environment, everything travels by gas or diesel fuel. Hence, prices keep rising and the little guy, who can least afford it, gets hurt the most. Aka, trickle down economics.
As for me, I choose to drive the biggest, gas guzzlin', mf'er dat fits inta my suburban garage. And, refuse to make any apologies for it, hey?

[Uncle Rico]

Here's Econ 101...in spite of BO's push for a "green" environment, everything travels by gas or diesel fuel. Hence, prices keep rising and the little guy, who can least afford it, gets hurt the most. Aka, trickle down economics.
As for me, I choose to drive the biggest, gas guzzlin', mf'er dat fits inta my suburban garage. And, refuse to make any apologies for it, hey?

Then quit complaining about gas prices

[The Sultan]

Here's Econ 101...in spite of BO's push for a "green" environment, everything travels by gas or diesel fuel. Hence, prices keep rising and the little guy, who can least afford it, gets hurt the most. Aka, trickle down economics.
As for me, I choose to drive the biggest, gas guzzlin', mf'er dat fits inta my suburban garage. And, refuse to make any apologies for it, hey?

LOL. The United States is producing oil at a record level, and produces more than any other country in the world.  So I am not sure what the "green environment" has anything to do with this. Demand for oil is high..because the economy is humming.

And I truly do not care what you drive. You could drive a tank as far as I'm concerned.

But complaining about gas prices, while also bragging about driving "the biggest, gas guzzlin', mf'er dat fits inta my suburban garage," is hilarious.

[4everwarriors]

You axed, I answered. BTW, no brag, just fact, hey?

[Uncle Rico]

LOL. The United States is producing oil at a record level, and produces more than any other country in the world.  So I am not sure what the "green environment" has anything to do with this. Demand for oil is high..because the economy is humming.

And I truly do not care what you drive. You could drive a tank as far as I'm concerned.

But complaining about gas prices, while also bragging about driving "the biggest, gas guzzlin', mf'er dat fits inta my suburban garage," is hilarious.

Family really does need to do an intervention for him.

Probably need a Marquette losing streak to make him happy

[The Sultan]

You axed, I answered. BTW, no brag, just fact, hey?

Why would I think that driving a big, gas guzzling car would be a brag?

[The Sultan]

Family really does need to do an intervention for him.

To be honest, they probably are tired of him too.

[4everwarriors]

'Cause dat's watt ewe sed, 4 minutes ago, aina?

[4everwarriors]

Ad hominem attacks are so yesterday, hey?

[Pakuni]

Ad hominem attacks are so yesterday, hey?

Kinda like being pro-vaccine, hey?

[4everwarriors]

Yeah, pretty much for children and those without comorbidities. Currently know of an individual, in the hospital, with covid. Unfortunately, in his case, he underwent a kidney transplant 3 years ago and is on immunotherapy drugs. But, despite getting the vaccine and every booster for himself and immediate family members, got covid from his daughter. Been a rough go, but he's making progress and likely to be released soon, hey?

[TSmith34, Inc.]

Just spent $54.00 for half a tank. Its an election year, so let's watch it play out , aina?

Stupid unnatural carnal knowledge has a 35-gallon tank and whines about gas being $3/gallon. LOL

[jesmu84]

LOL. The United States is producing oil at a record level, and produces more than any other country in the world.  So I am not sure what the "green environment" has anything to do with this. Demand for oil is high..because the economy is humming.

And I truly do not care what you drive. You could drive a tank as far as I'm concerned.

But complaining about gas prices, while also bragging about driving "the biggest, gas guzzlin', mf'er dat fits inta my suburban garage," is hilarious.

No vaccine for brainrot