Great economic news coming from the Fed....

[nytigerfan]

With the expansion of vaccinations nationwide and the $1.9 trillion stimulus bill officially in play, The Fed issued its quarterly projections indicating the economy will grow by 6.5% this year — the largest annual growth output in nearly 40 years — and also forecast unemployment rates dropping to 4.5%. Both estimates are a big uptick from projections in December, when it predicted 4.2% growth and 5% unemployment.

And the DJIA just closed above 33K for the first time in history.

This is great news and should be celebrated by all Americans.

 

[CU1TruTiger4Life]

Such a strange time to live. We live in a country of excess, opportunity, and acceptance when compared to the rest of the world. Yet so many people seem so unhappy, deprived, and victimized. It’s almost like there is more to life than money and happiness is internal.

 

[scott in nashville]

Inflation concerns are real, don't overlook them.

 

[hodgson74]

Thank God. So gas is about to go down?

 

[PAWrocka]

... I want to know what we, with our allies, are going to do to hold China accountable for what they have done.

Collectively, the world needs to send their economy into the stone age.

 

[letsgocu]

Is this a real surprise considering the year we just had and Covid getting under control?

 

[tigerGUY]

Inflation concerns are real, don't overlook them.

Diesel and gasoline went crazy. The reason could have been avoided....but fvck the everyday guy and retired.

 

[jasper7765]

With the expansion of vaccinations nationwide and the $1.9 trillion stimulus bill officially in play, The Fed issued its quarterly projections indicating the economy will grow by 6.5% this year — the largest annual growth output in nearly 40 years — and also forecast unemployment rates dropping to 4.5%. Both estimates are a big uptick from projections in December, when it predicted 4.2% growth and 5% unemployment.

And the DJIA just closed above 33K for the first time in history.

This is great news and should be celebrated by all Americans.

While unemployment may drop by the end of the year don't look for it to drop until October of any significant amount. Right now, workers in lower skilled jobs can claim unemployment and not even look for a job. They can claim fear of Covid until September 20th and they will receive unemployment from the state and the additional $300. This puts most that may have been making $10 an hour up to $15 an hour depending upon the state. Owning QSR restaurants, we are extremely understaffed and can't find staff. Our average employee works 30 hours a week. That puts them at 20$ an hour to sit at home. I assure you inflation will rise in your cost to eat at a restaurant in the near future as the food industry tries to compete with unemployment.

 

[Intracoastal]

Count me as skeptical.

 

[tigerGUY]

Is this a real surprise considering the year we just had and Covid getting under control?

It had no place to go but up.

 

[PAWrocka]

Thank God. So gas is about to go down?

Not a chance .... haha, by summer the national average will be up near $4 a gallon, and we will be importing more and more oil from countries that hate us.

 

[Churrob]

... I want to know what we, with our allies, are going to do to hold China accountable for what they have done.

Collectively, the world needs to send their economy into the stone age.

While I agree something needs to be done to hold them accountable for their handling of the initial virus, what you are suggesting will just lead millions of everyday people to starve and suffer.

 

[PAWrocka]

While I agree something needs to be done to hold them accountable for their handling of the initial virus, what you are suggesting will just lead millions of everyday people to starve and suffer.

actions have consequences

 

[The Orange Wave]

With the expansion of vaccinations nationwide and the $1.9 trillion stimulus bill officially in play, The Fed issued its quarterly projections indicating the economy will grow by 6.5% this year — the largest annual growth output in nearly 40 years — and also forecast unemployment rates dropping to 4.5%. Both estimates are a big uptick from projections in December, when it predicted 4.2% growth and 5% unemployment.

And the DJIA just closed above 33K for the first time in history.

This is great news and should be celebrated by all Americans.

What would you expect when you do 13% of nominal GDP in fiscal stimulus?

 

[clemsonu0219]

And this was all done with imaginary money...

 

[MillerHighLife21]

While unemployment may drop by the end of the year don't look for it to drop until October of any significant amount. Right now, workers in lower skilled jobs can claim unemployment and not even look for a job. They can claim fear of Covid until September 20th and they will receive unemployment from the state and the additional $300. This puts most that may have been making $10 an hour up to $15 an hour depending upon the state. Owning QSR restaurants, we are extremely understaffed and can't find staff. Our average employee works 30 hours a week. That puts them at 20$ an hour to sit at home. I assure you inflation will rise in your cost to eat at a restaurant in the near future as the food industry tries to compete with unemployment.

Been watching the same thing and the amount of people celebrating this situation is baffling.

 

[PawsFan_]

Not a chance .... haha, by summer the national average will be up near $4 a gallon, and we will be importing more and more oil from countries that hate us.

What countries would these be? Canada? Mexico?

The US imports relatively little oil. We're the third largest producer of oil in the world behind KSA and Russia. A lot of what we do buy is help stabilize the global price of oil.

 

[PAWrocka]

What countries would these be? Canada? Mexico?

The US imports relatively little oil. We're the third largest producer of oil in the world behind KSA and Russia. A lot of what we do buy is help stabilize the global price of oil.

ya .... that will change over the next 3 years ...

 

[PawsFan_]

With the expansion of vaccinations nationwide and the $1.9 trillion stimulus bill officially in play, The Fed issued its quarterly projections indicating the economy will grow by 6.5% this year — the largest annual growth output in nearly 40 years — and also forecast unemployment rates dropping to 4.5%. Both estimates are a big uptick from projections in December, when it predicted 4.2% growth and 5% unemployment.

And the DJIA just closed above 33K for the first time in history.

This is great news and should be celebrated by all Americans.

Great news indeed. But if the economy is tracking so great, why did we need a $1.9 trillion stimulus?

The growth numbers are relative to the dip so saying it the "largest annual growth output in 40 years" is sketchy at best. But hey, looks like Trump left the economy in good shape. Any issues will be Biden's.

 

[PawsFan_]

ya .... that will change over the next 3 years ...

Nope. Our oil production is our oil production.

 

[jasper7765]

Been watching the same thing and the amount of people celebrating this situation is baffling.

No Doubt. I can't tell you the amount of complaints that I get about long lines. I shake my head as I struggle to staff the restaurants. A few of my employees received $13k between the latest stimulus and their tax return with EIC as single mothers of 3. One of the employees made $13k all of last year (she is part time and knows that if she makes more than 13k she will lose most of her subsidies and while she often would love to help us out she has to ensure that she doesn't work too many hours). Luckily that individual is staying. However my typical employee makes around $350 a week (low skilled job). If they stay at home they will make just south of $600 a week. Why would anyone come to work? While I love the stimulus for sales and profit, it is murdering my managers and loyal team members, and myself. It truly is mind boggling to see how so many don't think of or realize the impact of these bills. I really feel bad for my team as they have to listen to the Karen's and Kyle's bitch about not getting their food fast enough when they are struggling to keep their head above water.

 

[TigerDoc]

Not a chance .... haha, by summer the national average will be up near $4 a gallon, and we will be importing more and more oil from countries that hate us.

The increase in gas prices is a tax increase, no if's and's or but's. The higher the price of gas the greater the tax revenue.

 

[Tiger Guru]

... I want to know what we, with our allies, are going to do to hold China accountable for what they have done.

Collectively, the world needs to send their economy into the stone age.

Somehow or another the Media will try to make you think it's Russia who did it. China is off limits when it comes to US media.

I agree. What China did was no accident.

 

[WapPride]

No Doubt. I can't tell you the amount of complaints that I get about long lines. I shake my head as I struggle to staff the restaurants. A few of my employees received $13k between the latest stimulus and their tax return with EIC as single mothers of 3. One of the employees made $13k all of last year (she is part time and knows that if she makes more than 13k she will lose most of her subsidies and while she often would love to help us out she has to ensure that she doesn't work too many hours). Luckily that individual is staying. However my typical employee makes around $350 a week (low skilled job). If they stay at home they will make just south of $600 a week. Why would anyone come to work? While I love the stimulus for sales and profit, it is murdering my managers and loyal team members, and myself. It truly is mind boggling to see how so many don't think of or realize the impact of these bills. I really feel bad for my team as they have to listen to the Karen's and Kyle's bitch about not getting their food fast enough when they are struggling to keep their head above water.

what's the average age of your employees? mainly highschoolers?

 

[GOPtiger]

While unemployment may drop by the end of the year don't look for it to drop until October of any significant amount. Right now, workers in lower skilled jobs can claim unemployment and not even look for a job. They can claim fear of Covid until September 20th and they will receive unemployment from the state and the additional $300. This puts most that may have been making $10 an hour up to $15 an hour depending upon the state. Owning QSR restaurants, we are extremely understaffed and can't find staff. Our average employee works 30 hours a week. That puts them at 20$ an hour to sit at home. I assure you inflation will rise in your cost to eat at a restaurant in the near future as the food industry tries to compete with unemployment.

Yeah, I just spoke to a friend that owns four franchised sandwich shops and he can’t find workers due the unemployment payments. He had a manager at one store schedule interviews with 9 prospective employees and only 1 showed for their interview. They hired him on the spot and scheduled him the next day. He didn't show. SMH

 

[darylcu]

Count me as skeptical.

Yeah, me too. I'm in the staffing business and in 2 months I've already seen the evil effects of passing out government money to our unskilled workforce. Why in the blue hell would any of them go back to work when Big Brother is gonna give them as much if not more to stay home. And yes, unemployment rates will drop to all time lows as people quit looking for work and aren't included in the figure. Anyone who thinks what's going on is going to be good for our economy needs a bit of schooling.

 

[PAWrocka]

Nope. Our oil production is our oil production.

we will see

I have ZERO confidence in Biden's domestic energy policies.

Somehow or another the Media will try to make you think it's Russia who did it. China is off limits when it comes to US media.

I agree. What China did was no accident.

The only thing Im unsure of is whether or not CV19 was released from the Wuhan Lab on purpose or by accident. Regardless, the Chinese absolutely mislead, covered up, and lied the global community because they saw an opportunity.

Ive said it before, but I KNOW, due to my job, that in Dec, Jan, Feb, and March the Chinese military was ceasing cargo aircraft on the tarmac at BEJ (at least) and confiscating all medical supplies headed for the EU/UK and the US. I can only assume they were doing the same at other airports and ports.

 

[kcorrigan]

2022 will be a tough year.

 

[cutigers4868]

2022 will be a tough year.

Every time they kick the proverbial can down the road, it only lengthens and worsens the natural course correction when it comes. Its going to be freaking painful for everyone. Hope they live up their $1400 stimulus money. Idiots.

 

[harristeeter]

With the expansion of vaccinations nationwide and the $1.9 trillion stimulus bill officially in play, The Fed issued its quarterly projections indicating the economy will grow by 6.5% this year — the largest annual growth output in nearly 40 years — and also forecast unemployment rates dropping to 4.5%. Both estimates are a big uptick from projections in December, when it predicted 4.2% growth and 5% unemployment.

And the DJIA just closed above 33K for the first time in history.

This is great news and should be celebrated by all Americans.

So tell me why we need another round of stimulus if everything is so wonderful.

 

[Charybdis]

Count me as skeptical.

Goldman Sachs is even more bullish. Projecting 8%.

The economy is going to, in the short term, explode. Vaccinations and the end of Covid on the horizon means the economy opening back up. The stimulus also means tons of spending.

The real question is how things bear out long-term.

 

[MillerHighLife21]

So tell me why we need another round of stimulus if everything is so wonderful.

We probably didn’t. That was kinda the point.

 

[jasper7765]

Yeah, I just spoke to a friend that owns four franchised sandwich shops and he can’t find workers due the unemployment payments. He had a manager at one store schedule interviews with 9 prospective employees and only 1 showed for their interview. They hired him on the spot and scheduled him the next day. He didn't show. SMH

This is normal. The 9 interviews were the individuals who thought they have to continue to show proof they are looking for a job. They will take the email (interview request) as proof that they are looking. This is a very common practice. At least with the new "Covid" rule in that you don't have to look, we aren't setting up interviews as we have no one applying.

 

[jasper7765]

what's the average age of your employees? mainly highschoolers?

It varies. I would say the average age is around low 20s. We do employ high schoolers in the evening, but there are few high schoolers than not.

 

[wmnesbitt]

This is great news. It is great that the economy is opening back up in more areas. It is great the stock market continues to increase. It is great the unemployment will continue to decrease.

It is sad that the democrats are the ones who have kept things shut down for so long just so they can say Biden saved everyone. It is sad that we will now hear all the media and dems say how great the stock market is doing, when 6 months ago they claimed the stock market was not a sign of a good economy.

The Dems are able to celebrate a recovery from a problem they created.

I can't wait for the stories of factories moving to other countries that were just moved to the US a few years ago. WHich is already happening.

 

[TheValley91]

This is great news. It is great that the economy is opening back up in more areas. It is great the stock market continues to increase. It is great the unemployment will continue to decrease.

It is sad that the democrats are the ones who have kept things shut down for so long just so they can say Biden saved everyone. It is sad that we will now hear all the media and dems say how great the stock market is doing, when 6 months ago they claimed the stock market was not a sign of a good economy.

The Dems are able to celebrate a recovery from a problem they created.

I can't wait for the stories of factories moving to other countries that were just moved to the US a few years ago. WHich is already happening.

Interesting reality you've created for yourself.

 

[poates6]

I’m glad things are opening back up. They should have never shut down.

I hope the folks in this thread struggling to find workers getthe employees they need!

 

[nytigerfan]

Great news indeed. But if the economy is tracking so great, why did we need a $1.9 trillion stimulus?

The growth numbers are relative to the dip so saying it the "largest annual growth output in 40 years" is sketchy at best. But hey, looks like Trump left the economy in good shape. Any issues will be Biden's.

The reason they improved their projection from Q4 to Q1 is because of the stimulus and newly found success at rolling out vaccines. Do you know what a "projection" is? It means they are saying that is what they expect this year, not what has already happened. You're welcome!

 

[nytigerfan]

Been watching the same thing and the amount of people celebrating this situation is baffling.

Man so much negativity on this board. The last time we had significant inflation was 1965 - 1982. But of course we have been threatened with it any time a democrat is in the white house since.

Just sit back and enjoy the Great American Recovery.

 

[nytigerfan]

This is great news. It is great that the economy is opening back up in more areas. It is great the stock market continues to increase. It is great the unemployment will continue to decrease.

It is sad that the democrats are the ones who have kept things shut down for so long just so they can say Biden saved everyone. It is sad that we will now hear all the media and dems say how great the stock market is doing, when 6 months ago they claimed the stock market was not a sign of a good economy.

The Dems are able to celebrate a recovery from a problem they created.

I can't wait for the stories of factories moving to other countries that were just moved to the US a few years ago. WHich is already happening.

Texas just reopened, and you're saying that it was democrats who control that state? Man those dems really do have all of the power. Are the dems also behind the shutdowns in other countries?