S&P 500 at another all-time high in spite of historic rate increases.
Great job, Prez!
Biden’s economy continues to crush it
- Thread starter PrimeIsGettingComfortable
- Start date
S&P 500 at another all-time high in spite of historic rate increases.
Great job, Prez!
It's called purchasing power destruction. It now costs more for everything, including stocks. It takes more $$ to buy these assets because you can't sit in cash or bonds. Everything is up. Gold, precious metals, stocks, homes, food, etc.
Central banks printed 40% of the entire worlds money supply in just 1 year (2020). We are witnessing a run-away inflation event. We have no choice but to cut rates soon because we can't afford to keep spending 1 trillion a year on interest payments. We are already 35 trillion in debt and at this rate will be well over 50 trillion in debt by the end of this decade.
Don’t care about that, I care about results and the best index of American companies is at an all time high.
And so are the prices for literally everything including our debt to GDP.
Bidens economy continues to crush the less fortunate. Poor families, which includes a larger % of minorities, continue to struggle to afford food, gas, rent and other necessities. If cold weather hits before the election, heating their homes will be come an additional struggle.
Hopefully it opens the eyes to the abject disdain the dem party has for the poor and makes them realize voting dem for the last 50 yrs has gained them nothing but more struggles and govt dependency - which is the dem goal.
Hopefully it opens the eyes to the abject disdain the dem party has for the poor and makes them realize voting dem for the last 50 yrs has gained them nothing but more struggles and govt dependency - which is the dem goal.
Correct. The latest polls show that only about 25% of Americans believe the economy is in good shape. We've already started monetary easing and we are about to follow the ECB, Canada in rate cuts. You don't cut rates when you think the economy is strong.
Who was in charge in 2020?
You know we are still under the Trump tax plan? We are realizing great benefits from USMCA still. The China tariffs are still in place. This is the Trump economy getting overrun by the Biden inflation.
In detail please tell me what China Joe has done legislation wise to help the economy.
Now China Joe killed us with inflation and that's a fact.
As I've stated several times this is not a partisan issue. Our "leaders" are crippling our future. Every American should be concerned what's going on. OP talking about the SPX being at an all time high fails to realize it's largely due to inflation and money printing. Everything is near an all time high in price while wages slowly climb. Fortunately for many of us on the board we participate in the stock market because it's a way to at least not get absolutely destroyed by currency debasement, however, many Americans do not participate in the equity market and they are watching their purchasing power melt like an ice cube on an Arizona highway. All of this at a time our debt is increasing at an alarming rate. We will be 50+ trillion in debt by the end of this decade unless there is some serious restraint.
You say it isn’t a partisan issue. But you are always ready to blame Joe Biden for everything bad. From trumps first day in office you were sucking him off like a fan boy.
The whole “bidenflation” argument is what uneducated buffoons parrot from Fox News talking points. They conveniently forget that Trump dumped more stimulus into the economy than Biden did. The hey conventions forget that he wanted to put more in but was stopped by Congress.
Our national deficit is not a partisan issue as bad as you want it and everything else to be.
But again, if you just look at the polls, only 25% of Americans think the economy is good. Probably a big reason why Biden's favorability is the worst in your or my lifetime.
The FED can only do so much to slow inflation with rates when congress is asleep at the wheel and on a spending spree.
Oh and btw, Biden just shit himself again on national television. He's going to be just fine.
Explain like I’m 5 why the debt matters and why everyday folks should be concerned with the number going up. Would anyone’s life be any easier if we all woke up tomorrow and the US was only 10 trillion in debt instead of 35? Genuinely asking because I have no idea
Debt has to be paid. It's pretty simple. We also have to pay interest on that debt. It's over 1 trillion a year in interest alone with current rates.
The US dollar is at risk of no longer being the world reserve currency if we have no path towards actually repaying our debt. It's not a problem until its a problem which would greatly impact our economy and trade. If you can just print money or continue to borrow more than you bring in what do you think will happen? Large inflation events and defaults.... Everyday folks are already dealing with the former, the latter will have even greater consequences.
Our debt to GDP is at 125%. That's not a sustainable debt to gdp.
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I have said a million + 1 more time now that I don’t want Biden to be the nominee. I also don’t want someone much more progressive to the nominee. I would choose either option over that traitorous scumbag Trump.
But you lecturing people on partisanship is the best laugh I have gotten in some time. Thanks!
I would hope not. It's more than obvious that he needs to step down or at very least not run again. His family is the one who should be ashamed by allowing this to continue where we have to prop him up as best we can when he is on TV.
I'm not trying to lecture people on partianship. I'm simply saying the issue of national debt is not one. Both parties are responsible and ALL americans are going to have to deal with the consequences of it and we already are.
DRILL, JOE, DRILL
Walmart’s stock is up 32% over the last year.
Seems like if they're closing everywhere, it wouldn't be hard to name a few. I'd think the article you posted might even mention a couple.
Ok...here you go junior. You thought you had something and you didnt. I almost feel sorry for you here. Dont come after a dog unless you ready to get bit. LOL!!
Walmart suddenly closing more stores in 2024
The retailer has already closed nearly one dozen locations this year alone.- Jena Warburton
- Jun 24, 2024 7:47 PM EDT
One of the more confounding facts about retail – particularly the brick and mortar piece of the industry – is that store closures can actually be a good thing.
At least for investors.
Closing underperforming locations to shore up profits, mitigate an issue, or fold up misguided ventures can actually be a very healthy indication that management is paying attention and knows when to simply throw in the towel.
Of course, this is not always the case.
We've seen plenty of store closures, particularly across metropolitan and suburban America, that indicate a bigger issue. Macy's (M) indicated earlier this year that it plans to close about 150 stores thanks to declining foot traffic and interest in indoor shopping malls.
Budget retailers Dollar Tree and Family Dollar (DLTR) announced they would shutter approximately 1,000 locations in 2024 among deteriorating economic conditions.
Even pricier shops, like the upscale bakery Foxtrot which is popular in cities like Washington, D.C., and Chicago, are shuttering entirely; many consumers just don't have the same appetite for the $35 grab and go lunch that they used to. The deli hotspot, which was popular during the pandemic for its convenience, abruptly shut all locations in the spring.
A Walmart employee restocking bananas.
Jeff Greenberg/Getty Images
Retail is a shifting landscape
And the stores that aren't closing are finding other challenges in staying open. Drugstores, particularly in high foot traffic areas, are increasingly locking up merchandise behind closed plexiglass doors to prevent theft.A photograph of a Washington, D.C., based CVS shows even the simplest items, like toilet paper, isn't even displayed on shelves anymore. Customers are instead asked to ring a bell to ask for assistance in retrieving their preferred brand, based on a variety of framed photos of available brands.
It's not limited to pharmacies like CVS and Walgreens. Most convenience stores, big box retailers, and even sporting goods stores have commented on the increase of theft in stores and its affect on profit margin.
TJ Maxx and Marshalls closing permanently in these major cities (here's why)
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Target (TGT) CEO Brian Cornell explained on the retail giant's Aug. 19 Q2 earnings call that the chain is grappling with "an unacceptable amount of retail theft and organized retail crime."
Walmart closing more stores
It would seem that no retailer – big or small, upscale or budget friendly – is safe from challenges in 2024.And Walmart (WMT) comes as no exception. The retailer has already closed 11 stores across the United States in 2024 due to a variety of issues, including underperformance. It also made the decision to close its 51 health clinic locations and sunset its entire health division.
Everything is up. Your purchasing power is being destroyed. Everything is at an all time high in price. Your dollar now buys you less than it did last year, the year before that and the year before that. We printed 40% of the entire worlds money supy in 2020 and 2021. Assets, equities, commodities, food, shelter, cars....EVERYTHING is up 30%+.
Don't be fooled into thinking these companies are doing that much better. You can't be that naive.
This is a complete fabrication. Walmart shut down stores during Obama, trump, and Biden.
Trumpenomics!
And the stores that aren't closing are finding other challenges in staying open. Drugstores, particularly in high foot traffic areas, are increasingly locking up merchandise behind closed plexiglass doors to prevent theft.
A photograph of a Washington, D.C., based CVS shows even the simplest items, like toilet paper, isn't even displayed on shelves anymore. Customers are instead asked to ring a bell to ask for assistance in retrieving their preferred brand, based on a variety of framed photos of available brands.
It's not limited to pharmacies like CVS and Walgreens. Most convenience stores, big box retailers, and even sporting goods stores have commented on the increase of theft in stores and its affect on profit margin.
Target (TGT) CEO Brian Cornell explained on the retail giant's Aug. 19 Q2 earnings call that the chain is grappling with "an unacceptable amount of retail theft and organized retail crime."
I thought crime was down?
A photograph of a Washington, D.C., based CVS shows even the simplest items, like toilet paper, isn't even displayed on shelves anymore. Customers are instead asked to ring a bell to ask for assistance in retrieving their preferred brand, based on a variety of framed photos of available brands.
It's not limited to pharmacies like CVS and Walgreens. Most convenience stores, big box retailers, and even sporting goods stores have commented on the increase of theft in stores and its affect on profit margin.
Target (TGT) CEO Brian Cornell explained on the retail giant's Aug. 19 Q2 earnings call that the chain is grappling with "an unacceptable amount of retail theft and organized retail crime."
I thought crime was down?
Great. So why are some people okay with theft? Not punishing people stealing less than $950, allowing mobs to pillage stores... It makes no sense whatsoever.
Isn't that mainly a west coast issue? This west coast liberal thinks most liberals are different than west coast ones. It's his opinion but I tend to agree.
Nicholas Kristof: Is West Coast liberalism more focused on ideology than results?
The New York Times' Nicholas Kristof joins Morning Joe to discuss his latest piece 'What Have We Liberals Done to the West Coast?'
No it's not. Liberal Soros owned DA's are doing it in most of the biggest cities.Isn't that mainly a west coast issue? This west coast liberal thinks most liberals are different than west coast ones. It's his opinion but I tend to agree.
Nicholas Kristof: Is West Coast liberalism more focused on ideology than results?
The New York Times' Nicholas Kristof joins Morning Joe to discuss his latest piece 'What Have We Liberals Done to the West Coast?'www.yahoo.com
This has been a scapegoat used by retailers to combat bad press from closing stores. Theft impacting retail has been proven false many many times.
The reality is that retail continues to consolidate and move online.
I refuse to believe you are this dumb. You have to be a troll account.
Inflation is not 3%. And the total inflation since 2021 is closer to 35-40%. Which again makes since considering we printed 40% of the worlds money supply in just 1 year.
As I have told you several times. EVERYTHING is more expensive because your purchasing power has been destroyed. Especially the equity market.
Wal mart stock is up 32% over the last year. Inflation is 3-4% over the last year.
It’s hilarious you actually think you are smart. Go back to your delusional echo chamber.
