The economy’s strength and stability — defying many of the most optimistic predictions — represents a remarkable development after seemingly endless crises
As 2023 winds to a close, Powell and his colleagues are far from declaring victory on inflation. They routinely caution that their actions could be thwarted by any number of threats, from war in the Middle East to China’s economic slowdown. Americans are upset about high costs for rent, groceries and other basics, which aren’t going back to pre-pandemic levels. The White House, too, is quick to emphasize that much work remains.
Yet the economy is ending the year in a remarkably better position than almost anyone on Wall Street or in mainstream economics predicted, having bested just about all expectations time and again. Inflation has dropped to 3.1 percent, from a peak of 9.1. The unemployment rate is at a hot 3.7 percent, and the economy grew at a healthy clip in the most recent quarter. The Fed is probably finished hiking interest rates and is eyeing cuts next year. Financial markets are at or near all-time highs, and the S&P 500 could hit a new record this week, too.
that way out: pretend the stock market is the only thing that matters.
fuck these people
A recession is a specific problem; avoiding a recession does not mean that all economic woe is alleviated.
To throw out a shitty analogy, stating that a hurricane hasn’t happened doesn’t mean that there hasn’t been any bad weather at all.
No, they’re looking at a broad set of measures of economic well-being. The stock market is only one metric.
What they’ve done is pretty amazing, even if it doesn’t roll back the Reagan redistribution in favor of the wealthy, which would require congressional action.
Who tf is downvoting you? You’re exactly right, to them the only thing that matters is the market, and we’re doing fine because the market is still breaking records.
a large contingent of internet facing humans have invested in one way or another in the market. the biggest swindle in history was when companies somehow pushed their entire retirement portfolios to this external hunk of lying shit.
tax every trade. you want to call it a market, lets fucking tax it like one. no ‘dark markets’, no secret trading… 100% in public and taxing every fucking trade.
whats that? it would kill all the big players? ya dont say…