I'm surprised there's not an inflation thread yet
POSTED BY: 6IXSTRINGJACK
UPDATED: Thursday, June 11, 2026 17:04
VIEWED: 37356
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Confidence in US Economy Dips Further as Inflation and Recession Fears Grip Consumers
The Conference Board's Consumer Confidence Index fell, and its expectations index continues to signal a recession within the year
https://themessenger.com/business/consumer-confidence-october-conferen
ce-board-economy-recession
Quote:
Confidence in the U.S. economy slid further in October as consumers fretted about sticky inflation, Washington's continued dysfunction, a possible U.S. recession and war in Israel, according to a report released Tuesday.
...
The board's expectations index, which measures consumers’ six-month outlook for income, business and labor conditions, continues to signal a recession within the next year: it fell to 75.6 in October from 76.4 in September. Any reading below 80 has historically been followed by a recession within the next year.
...
"Consumers continued to be preoccupied with rising prices in general, and for grocery and gasoline prices in particular," said Dana Peterson, chief economist at The Conference Board. "Consumers also expressed concerns about the political situation and higher interest rates. Worries around war/conflicts also rose, amid the recent turmoil in the Middle East."
Inflation has declined precipitously since hitting a peak of over 9% in June 2022, but it's still 3.7% as measured by the consumer price index. That's well-above the Federal Reserve's target of 2%.
The Fed is meeting this week to decide on interest rates. It is widely expected to hold its key rate at 5.25% to 5.5%, a 22-year high. The central bank will announce its decision at 2 p.m. on Wednesday.
You voted for this, retards.
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Political correctness is just tyranny, with a smiley face.
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Quote:
US Beef Prices Hit Record High As Nation's Cattle Herd Expected To Shrink Through 2025
Tuesday, Nov 14, 2023 - 08:45 PM
Brazilian processor Marfrig Global Foods SA warned the US cattle herd will continue shrinking through the midpoint of the decade. Less supplies will pressure meatpackers and keep the prices of steak and hamburgers at elevated levels.
During a conference call, Tim Klein, the head of Marfrig's North American operation, explained the availability of fattened animals for meatpackers to slaughter and process should trough between 2025 and 2026. He said this is because ranchers have not yet started keeping cows for breeding.
As we've noted, years of drought and high feed costs forced ranchers across the Midwest to send the cows to slaughterhouses, leading to a sharp reduction in the nation's overall herd size. In January, the beef cow herd size was the smallest since 1962.
Tight supplies of cattle have hurt the profits of meatpackers, including Tyson Foods Inc. and JBS SA:
National Beef Inc., Marfrig's US unit, saw adjusted earnings before items such as taxes and interest more than halve in the third quarter from a year ago to $150 million, according to a statement from the company on Monday. Tyson Foods Inc. and JBS SA posted results earlier that were largely affected by lower profits in their US beef operations. -Bloomberg
Declining cattle numbers also sent US beef prices at the supermarket to record highs.
MORE AT https://www.zerohedge.com/commodities/us-beef-prices-hit-record-high-n
ations-cattle-herd-expected-shrink-through-2025
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"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger
Loving America is like loving an addicted spouse - SIGNYM
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Producer Price Index by Industry: Animal, Except Poultry, Slaughtering: Beef, Fresh/Frozen Whole/Half Carcass, Not Canned or Made Into Sausage, Made in Slaughtering Plants
https://fred.stlouisfed.org/graph/?g=1boUA
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Yeah. Joe Biden* sucks.
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Political correctness is just tyranny, with a smiley face.
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Quote:It is not bragging to say I have more control over beef and natural gas prices than any President has ever had because I set the price and the President does not. But for some reason, people who buy stuff don't know that the people who sell stuff are setting prices, not the President. It is a good thing that most buyers don't know who is setting the prices or else they would burn down the mansions of rich people. Instead, they vote against whoever is President at the moment. It is so funny and so very lucrative for sellers that buyers are so stupid.
Originally posted by 6ixStringJack:
Yeah. Joe Biden* sucks.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Quote:
Originally posted by second:Quote:It is not bragging to say I have more control over beef and natural gas prices than any President has ever had because I set the price and the President does not. But for some reason, people who buy stuff don't know that the people who sell stuff are setting prices, not the President. It is a good thing that most buyers don't know who is setting the prices or else they would burn down the mansions of rich people. Instead, they vote against whoever is President at the moment. It is so funny and so very lucrative for sellers that buyers are so stupid.
Originally posted by 6ixStringJack:
Yeah. Joe Biden* sucks.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
Jacks upset because his food stamps won't buy much steak. Too funny...
T
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I'm not on food stamps dude.
Look up the law in Indiana. I can't get them until I'm 55 years old unless I move to a bankrupt Democrat shithole.
How was work today, honey? Did you make any progress chipping away at all that lifelong debt keeping you poor for life?
Admittedly, I didn't get to take a nap today. I was too busy working for the best boss in the world.
Me.
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Political correctness is just tyranny, with a smiley face.
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Argentina elects its own Donald Trump
Kevin Drum | Published on November 19, 2023 – 6:06 pm
https://jabberwocking.com/argentina-elects-its-own-donald-trump/
The Washington Post describes Argentina's recent past:
For only the second time in its history, Argentina has seen 10 years without economic growth. During that decade, poverty rates shot up from 28 percent to more than 40 percent. Now, for the first time ever, even formal workers in Argentina’s economy are below the poverty line. Inflation is nearing 150 percent. The peso has plummeted, prices change nearly weekly, and Argentines are forced to carry around large wads of cash just to buy groceries.
( Inflation actually hit 322% in September, but who's counting, really? )
If you think this spells bad news for the party in power, you'd be right. Today, lunatic insurgent candidate Javier Milei won Argentina's presidential election. Here's what he plans to do:
Wielding chainsaws on the campaign trail, the wild-haired Milei vowed to slash public spending in a country heavily dependent on government subsidies. He pledged to dollarize the economy, shut down the central bank, and cut the number of government ministries from 18 to eight.... He has branded Pope Francis, an Argentine, an “evil” leftist. Climate change, he says, is a “socialist lie.” He would hold a referendum to undo the three-year-old law that legalized abortion.
Most of the discourse revolves around Milei's plan to adopt the US dollar as its national currency, but Argentina has flirted with dollarization before. In 1989, after inflation hit 5,000%, the peso was pegged to the dollar, which worked well for a while. The peg slipped a decade later and plans were made for full dollarization. But then Argentina fell into a deep depression and plans were shelved. Even the dollar peg was abandoned.
It's easy to see why Argentinians might want to outsource monetary policy to the US, but it's a loser idea. It's always going to fail eventually when the economies of the two countries get too far out of sync. In any case, Argentina has defaulted on its foreign debt three times in the past couple of decades and understandably has a hard time attracting dollars these days. This means its domestic stock of dollars is low—which might not make dollarization literally impossible but would sure make it painful and tricky.
There's also the fact that Peronists still control Congress, which presumably means that Milei won't be able to simply bulldoze his ideas into law. Big talk doesn't necessarily translate into big action. In that sense, he might be even more Trumplike than people think.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
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No mention at all of Socialism in that entire article.
Not surprised in the least since fat idiot Kevin Drum wrote it. Just pointing it out.
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Political correctness is just tyranny, with a smiley face.
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Quote:Is this one of those Trumptard notions about how an economy works? Because every Trumptard I know does not know how Capitalism works. Not one of you Trump voters has ever understood why your lives are filled with financial problems, workplace struggles, heartbreak, drama, sudden reversals in fortune, and tragic/early deaths. I stopped wondering why in about 1962, when I was ten years old, long before Trump got into politics. Paleo-Trumptards and fully-formed Trumptards kept showing me why their lives go wrong: the cause is inside their heads, not out there somewhere in politics.
Originally posted by 6ixStringJack:
No mention at all of Socialism in that entire article.
Not surprised in the least since fat idiot Kevin Drum wrote it. Just pointing it out.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
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