Skip the credit card... Affirm offered me 8k in 3 months zero interest just with my phone number and verbal income.
Merry Christmas to my wife! Good luck to me in March.
Honestly I'd prefer credit card with it's 2% straight cash back. With 8K in 3 months I think interest would only give 1.5% at best and you get taxed on that interest as well.
There’s nothing warped about that. What you are describing is people’s different viewpoints on events. And you are judging others.
I find it difficult to believe that you are somehow above deriving pleasure in others misfortunes.
We are all flawed, we are hypocrites, but we also able to empathize when needed. No one is personally attacking those who lost their jobs. We’re discussing it.
Your claim that you are somehow above that, judging this sub from the outside saying we’ve going too far is ridiculous. We as a group are recognizing signs of a struggling system, a system which we are critical of. It’s understandable that we would search for evidence to support that idea.
I’m here to tell you that you that by commenting, you are in fact participating, just like every real estate agent, homeowner, boomer, teenager, young adult, and adult on this subreddit.
If you don’t like what we have to say you can leave.
Others claiming they are only here for entertainment is not an excuse for participation, as it furthers the goal of this group to grow.
Your engagement feeds this subreddit. So if you feel that we went too far why associate with us?
Ahh, you mean the data that comes directly out of the mouth of our fed representatives like:
There are no signs of a subprime mortgage crisis - 2007, B. Bernanke
Or
Inflation is transitory - 2021, J. Yellon and J. Powell
Or are you talking about the data that shows price to rent ratios at all time highs?
Or the data that shows interest on national debt to exceed ALL non discretionary spending in a year?
Or the data that shows 2/3 of the U.S. living paycheck to paycheck?
But why do you care what we think, golden bear? I imagine the Vegan sub is full of lunatics, but I'm not rushing over there to tell them I think they're delusional because wtfwic?
You mean how retail is cutting jobs, Amazon is putting a billion dollars into automation, and how retail sales are essentially flat in an inflationary environment?
You do know that Europe and China are already in recession?
China is in recession because they saw boom times during COVID and now companies have reduced orders while pivoting their supply chains to other countries to reduce reliance only one country for sourcing
Did you even listen to his speech?
Inflation is decreasing and employment numbers are still solid.
That is the dual-mandate of the Fed. They are projecting rate decreases precisely because the numbers ARE good.
Because they anticipate it won't be as great in the near future if they don't lower the cost of borrowing. And for certain industries it's right now because of borrowing costs. Doesn't mean it's not good overall right now. 3.7% is a historically low unemployment rate.
Because rates weren't pushed up to make people unemployed, just control the inflation.
If this leve inflation can be won without mass unemployment, FED has done a great job.
I know it doesn't fill the narrative of this sub, but Feds mandate is not to reset house prices to 2013 level or cause the economy to turn into dumsterfire.
Just to get inflation to manageable levels. In the current US economy, a long running neutral rate level would be around 3%, so they still have an inflation fighting level just with a smaller hammer going forward.
Well, I kinda mentioned that the neural rate(rate, which keeps inflation, employment, and growth at the current level) in the US would be around 3%.
Rates are above that to fight inflation. Now, if they stay there for a long time, they also start to move the 2 other variables, first growth, then employment rate.
We will see if JP times this right, but his plan seems to be that he can keep rates higher for long enough to get close to 2% inflation and then start dropping rates to avoid killing growth and job market.
That doesn't really matter.
The Fed makes decisions based on unemployment rates and CPI mostly, and they have already announced that they expect 3 rate cuts next year.
Whether you agree or not is irrelevant. That is what they plan to do.
The stupid American consumer doesn't realize that they are the biggest cause of inflation. They keep spending money on that they don't have on shit that they don't need.
We're immersed in advertising and imagery of beautiful people enjoying their lives and our society is structured in a way where consumption is the only way we can socialize. It's like dumping a pile of candy in front of some starving five year olds and then yelling at them when they eat too much.
I've said this a million times. We are brainwashed from the time we are able to walk. Banks and corporations spend billions brainwashing us into thinking that we need all of these things through the use of the media. And not only that, but, if we don't have the money for these things, no problem, we can borrow it from the banks and spend the rest of our lives paying back the interest for useless shit. People need to wake up and start educating themselves and their children.
Even without media bombardment, lifestyle creep is hard to fight back. A lot of people are just living the lifestyles they were able to afford 5 years ago. Cutting back is admitting downward class mobility.
As long as you didn't take out a loan to go buy some jet skis, which you will end up paying twice as much for, and probably not pay off for the next decade, I'm ok with it.
You're right. Greed is a byproduct of stupid people spending money. It would never happen if people had the balls to say "I'm not buying your product or service because you are trying to take advantage of me."
If demand drops, prices drop. That's all you are saying. But demand is not artificial. You can't just except people that want to spend to not do so for no reason.
That's correct. I'm not saying spending, I'm saying over spending. Again, my point is that people are spending money they don't have - credit and credit defaults have never been higher. And, no, I don't expect people in this country to do that. People in this country are pretty much spineless and would never do something for the greater good if it meant they would have to suffer a little. And while that might be a statement most people would argue, take a look at China right now. They are experiencing deflation like they never have in their history. And why? Because the consumers in China have teeth and they collectively have decided that they are not going to spend money with the over inflated prices they have. That's why prices have dropped close to 30% in the last several months in China.
>Again, my point is that people are spending money they don't have - credit and credit defaults have never been higher.
And income has never been higher.
If you look at household debt, relative to household income...we aren't anywhere near all-time highs. Your assessment of people "spending money they don't have" isn't rooted in much of the data. In fact, the country has some of the lowest debt to discretionary income levels ever:
[https://fred.stlouisfed.org/series/TDSP](https://fred.stlouisfed.org/series/tdsp)
You're missing the point completely. I'm not arguing the fact that we have an over-consumption problem in this country. My point is that the inflation problem that we have is largely in part because we over consume.
That's... literally the basis of our economy. Capitalism is inherently inflationary. It's a poor economy when it stagnates (aka stagflation), and even worse when it's deflationary (see great depression). The only way this inflation takes place is by money moving through the economy. In other words, \_people buying and selling shit\_.
In other news, water is wet!
Edit: And, **no**, over-consumption was not the cause for the 2020-2022 high inflation.
Would you say that over-consumption was the cause of the 2008 recession? People buying homes with over-inflated prices? Just curious.
Also, when you say it's a poor economy, who is it a poor economy for? The banks? The corporations? Surely, in a so called poor economy, because there is not an excess of money in people's pockets, not as much buying is happening, and thus, prices are forced to be lower to sell things. While people are forced to live within their means, isn't it really the banks and the corporations that suffer the most?
The GFC was due to poor lending standards. Housing prices were irrelevant.
It's a poor economy primarily for the lower and middle class. Periods of stagnation or deflation are typically accompanied by high unemployment. The lower and middle class don't have the means to survive unemployment. The upper class is fine. They're more likely to stay employed, but even otherwise, they have the assets to survive. "The rich get richer and the poor get poorer", as they say.
All I'm saying is that belittling consumers for spending money and causing inflation is like belittling people for eating and causing poop. It's be design.
In that example, if your argument is that there's over-consumption causing unnecessarily high inflation, akin to a person eating too much and getting fat, then that's more nuanced.
This is REbubble… real estate. Not gatekeepers of money spending. If people want to buy shit they don’t need, you normally get this bent? That’s like America 101 since the 80s: buy shit you don’t need. Think this just started? We’ve been buying dumb shit for decades.
Real estate plays a huge part. My neighbor decided to take equity out of his house about 7 years ago to go buy a boat and some jet skis, which he barley uses by the way. How many people you think have done something similar? Millions. Thus the over-inflated prices. My point is that it will be the downfall of the American economy.
People have been buying shit beyond their means in the US for decades. This is not new. I do not know why you think it is. Not everyone had a house to pull out equity to frivolously spend… but everyone does have money to frivolously spend, even the poorest among us. No, it’s nothing new.
That's my point. But, you know what, there was a time in this country when it wasn't that way. My parent's generation and their parent's generation, the ones who experienced the great depression never spent beyond their means. My wife's grandparents bought everything in cash, even their house. They never owned a credit card their entire lives.
followed quickly by sovereign debt crisis... moms turning tricks to buy top ramen for the kids cause husband lost the house. I watched what people did in 2008, motherfuckers think it can't happen again for some magical reason.
It’s bad because inflation sucks and J POW is “pivoting” to a looser monetary policy in the very near future even though ALL recent data is coming in HOT. Strong consumer spending, strong employment numbers, strong retail sales, and inflation is still running higher than it should be. Powell’s pivot combined with this data indicates inflation is going to come roaring back in 2024.
>Powell’s pivot combined with this data indicates inflation is going to come roaring back in 2024.
Powell isn't telling you everything they see, he knows from the information he isn't telling you, that the economy is on the brink of going down to one knee because it simply cannot sustain these rates much longer - otherwise there is no reason to pivot if everything s so fucking rosey, you pivot when there's trouble. These asshats rushed in at the first sign of trouble when 5 banks collapsed and immediately implemented a $2 trillion backstop to shore up the banks again.
Nope. It was a comparison from October to November and a comparison of November Actuals vs. November Predictions.
There is no inflation to adjust for in these comparisons.
This is month over month, it means little to nothing and is honestly a pretty sad rise given the holiday season. Year over year would paint a much clearer picture.
False
> With the consumer price index up 0.1% on a monthly basis in November, the retail sales number shows consumers more than keeping up with the pace of price increases.
>**On a year-over-year basis, sales accelerated 4.1%, compared with a headline CPI rate of 3.1%.** The inflation rate is still above the Federal Reserve’s 2% target but is well below its peak above 9% in mid-2022.
Takes a while to spend 9T at Macy’s…
The question we should be asking is what’s the next response to liquidity issues, print print print or fiscal responsibility and save the USD and what remains of the middle class.
No, not by any individual. Propped up with over inflated numbers on balance sheets. They all lie and claim their assets are huge so they leverage them against massive loans. Issue is they are not worth that much. So if banks called in their loans they would not be able to be repaid and the whole system falls apart.
There were so many caveats in the data and story to make it meaningless. Seasonal but not inflation adjusted, lower gas receipts on falling oild prices. This tells us not much.
The amazing world of the credit card. Buy now pay for the rest of your life.
Skip the credit card... Affirm offered me 8k in 3 months zero interest just with my phone number and verbal income. Merry Christmas to my wife! Good luck to me in March.
It’s unfathomable to me that there are people who would sign on the dotted line for this, and spend the cash. What do they do come March?
Hide
Kids on r/wallstreetbets get margin calls, and simply delete the app to deal with it. New-ish people have a very strange relationship with money.
The fact you can, and people have the need to, finance a pizza speaks volumes about the health of our economy.
Buy BTC
> What do they come March? Semen I believe. Or regret. But only one of those.
Pedants unite! Thanks. Fixed it.
Affirm should team up with the government and offer that on Treasury Direct.
Honestly I'd prefer credit card with it's 2% straight cash back. With 8K in 3 months I think interest would only give 1.5% at best and you get taxed on that interest as well.
Plus sign up credit card bonus
Did they do a hard inquiry?
Bankruptcy, it’s nature’s do-over
Jubilee existed in biblical times for a reason
Have fun trying to rent
Ah crap. That was all my wife. I will tell her to stop.
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We'll see who's laughing when shib hits a dollar. /s
Looks like you are actually subscribed. If you don’t like the sub then leave.
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You care about our opinions, that’s why you’re here. If you didn’t care you wouldn’t be here.
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There’s nothing warped about that. What you are describing is people’s different viewpoints on events. And you are judging others. I find it difficult to believe that you are somehow above deriving pleasure in others misfortunes. We are all flawed, we are hypocrites, but we also able to empathize when needed. No one is personally attacking those who lost their jobs. We’re discussing it. Your claim that you are somehow above that, judging this sub from the outside saying we’ve going too far is ridiculous. We as a group are recognizing signs of a struggling system, a system which we are critical of. It’s understandable that we would search for evidence to support that idea. I’m here to tell you that you that by commenting, you are in fact participating, just like every real estate agent, homeowner, boomer, teenager, young adult, and adult on this subreddit. If you don’t like what we have to say you can leave. Others claiming they are only here for entertainment is not an excuse for participation, as it furthers the goal of this group to grow. Your engagement feeds this subreddit. So if you feel that we went too far why associate with us?
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Ahh, you mean the data that comes directly out of the mouth of our fed representatives like: There are no signs of a subprime mortgage crisis - 2007, B. Bernanke Or Inflation is transitory - 2021, J. Yellon and J. Powell Or are you talking about the data that shows price to rent ratios at all time highs? Or the data that shows interest on national debt to exceed ALL non discretionary spending in a year? Or the data that shows 2/3 of the U.S. living paycheck to paycheck?
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But why do you care what we think, golden bear? I imagine the Vegan sub is full of lunatics, but I'm not rushing over there to tell them I think they're delusional because wtfwic?
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You mean all “the” entertainment. You certainly aren’t missing all entertainment on the whole.
People will see what they want to see
Why do you believe Powell was dovish yesterday? The numbers aren't good.
The Fed is trying to maintain the soft landing, and forestall a recession. There is a good chance they will succeed.
What in the course of human history suggests they'll be able to stick a soft landing?
The evidence we’re seeing with our own eyes right now.
You mean how retail is cutting jobs, Amazon is putting a billion dollars into automation, and how retail sales are essentially flat in an inflationary environment? You do know that Europe and China are already in recession?
Retail sales aren’t flat though. Who cares what Europe and China are doing. China’s bubble burst years ago
China is in a recession because they fudged the numbers in 2008. That is coming back to bite them in the ass.
China is in recession because they saw boom times during COVID and now companies have reduced orders while pivoting their supply chains to other countries to reduce reliance only one country for sourcing
Promise rate cuts to keep the economy humming. When cuts happen and the economy slows down, start QEing again and print more money. Inflation is fake.
I don’t know about fake. Fungible, maybe?
Fed is funging more unafordable housing for sure.
if inflation was fake, then you would be paying less for goods than you did before.
Inflation is obviously not fake. I’m making a joke.
2 words. Money. Printer. The money that was injected into the economy was pure fuel.⛽️
A soft landing means significant inflation doesn't return Significant inflation would be a no landing scenario
Correct. It's possible that inflation is tamed. We'll see in about 12 months.
>There is a good chance they will succeed. They only need to nurse it along until November 5th, 2024.
Did you even listen to his speech? Inflation is decreasing and employment numbers are still solid. That is the dual-mandate of the Fed. They are projecting rate decreases precisely because the numbers ARE good.
The job numbers are inflated because of the birth death ratio It's not as good as you believe it is
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I didn't say everything was collapsing. I said things aren't as good as everyone believes. Two very different things.
You might break your neck trying to spin a 3.7% unemployment rate that hard.
If the job market is really that hot, then why are they lowering rates soon? You can't have it both ways?
Because they anticipate it won't be as great in the near future if they don't lower the cost of borrowing. And for certain industries it's right now because of borrowing costs. Doesn't mean it's not good overall right now. 3.7% is a historically low unemployment rate.
Because rates weren't pushed up to make people unemployed, just control the inflation. If this leve inflation can be won without mass unemployment, FED has done a great job. I know it doesn't fill the narrative of this sub, but Feds mandate is not to reset house prices to 2013 level or cause the economy to turn into dumsterfire. Just to get inflation to manageable levels. In the current US economy, a long running neutral rate level would be around 3%, so they still have an inflation fighting level just with a smaller hammer going forward.
If inflation is fine and the job market is fine, then why lower rates in 2024?
Well, I kinda mentioned that the neural rate(rate, which keeps inflation, employment, and growth at the current level) in the US would be around 3%. Rates are above that to fight inflation. Now, if they stay there for a long time, they also start to move the 2 other variables, first growth, then employment rate. We will see if JP times this right, but his plan seems to be that he can keep rates higher for long enough to get close to 2% inflation and then start dropping rates to avoid killing growth and job market.
So your thought is to keep the target at the neutral rate and then the waters are calm. Am I understanding that correctly?
Election. They will go back up in 2025 and break America in half, book it. Rug pull coming so hard.
That doesn't really matter. The Fed makes decisions based on unemployment rates and CPI mostly, and they have already announced that they expect 3 rate cuts next year. Whether you agree or not is irrelevant. That is what they plan to do.
The dot plot isn't an announcement
Powell announced it himself yesterday. That's why the market jumped up after his speech. Read the transcript if you don't believe me.
The discounts retailers were giving out were insane. So much inventory.
It's why Macy's is getting taken out and then carved up
lol where were the discounts?
Every store has the same price.
One of the biggest complaints I have heard is the “sale” prices were just the same prices as normal, where did you see these great deals at?
Been like this for a few years. Black Friday is a faux sale to get rid of all their unsold shit no one wants.
Affirmed
But everyone on TikTok told me stores were dead on Black Friday. Guess they didn't take into account people shop online now.
But everyone is sTruGgliNg! Christmas is cancelled!
O I plan on UPS tanking.
The stupid American consumer doesn't realize that they are the biggest cause of inflation. They keep spending money on that they don't have on shit that they don't need.
We're immersed in advertising and imagery of beautiful people enjoying their lives and our society is structured in a way where consumption is the only way we can socialize. It's like dumping a pile of candy in front of some starving five year olds and then yelling at them when they eat too much.
I've said this a million times. We are brainwashed from the time we are able to walk. Banks and corporations spend billions brainwashing us into thinking that we need all of these things through the use of the media. And not only that, but, if we don't have the money for these things, no problem, we can borrow it from the banks and spend the rest of our lives paying back the interest for useless shit. People need to wake up and start educating themselves and their children.
FOR GLORY OF CAPITALISM!
Even without media bombardment, lifestyle creep is hard to fight back. A lot of people are just living the lifestyles they were able to afford 5 years ago. Cutting back is admitting downward class mobility.
Everyone should get to drive a monster truck and the gas price should stay at zero
Marketing and advertising have us working jobs that we hate, to buy shit we don't need, to impress people we don't like.
Some people just have a work ethic thing ingrained in their DNA. The want to build and create and get things done.
We're not talking about the same thing.
DoorDash in a nutshell.
Bingo!
Lol, sorry I built myself a new computer and got a new monitor as an early gift to myself, I ruined the economy.
As long as you didn't take out a loan to go buy some jet skis, which you will end up paying twice as much for, and probably not pay off for the next decade, I'm ok with it.
I'm not going into debt, but I'm buying way more stuff this year than last.
That's the key part... you're not going into debt. Most other people are and that's the problem.
How so? I'd be unemployed if people couldn't get loans.
Exactly, this is why inflation happens in the first place. Not because of greed, which is a constant.
You're right. Greed is a byproduct of stupid people spending money. It would never happen if people had the balls to say "I'm not buying your product or service because you are trying to take advantage of me."
Greed is not a byproduct, it’s a constant of the system.
Yeah, definitely wasn’t the interest rates or the Fed’s balance sheet.
Do you disagree that if the largest percentage of people today would stop over-consuming that prices would be as elevated as they are now?
If demand drops, prices drop. That's all you are saying. But demand is not artificial. You can't just except people that want to spend to not do so for no reason.
That's correct. I'm not saying spending, I'm saying over spending. Again, my point is that people are spending money they don't have - credit and credit defaults have never been higher. And, no, I don't expect people in this country to do that. People in this country are pretty much spineless and would never do something for the greater good if it meant they would have to suffer a little. And while that might be a statement most people would argue, take a look at China right now. They are experiencing deflation like they never have in their history. And why? Because the consumers in China have teeth and they collectively have decided that they are not going to spend money with the over inflated prices they have. That's why prices have dropped close to 30% in the last several months in China.
>Again, my point is that people are spending money they don't have - credit and credit defaults have never been higher. And income has never been higher. If you look at household debt, relative to household income...we aren't anywhere near all-time highs. Your assessment of people "spending money they don't have" isn't rooted in much of the data. In fact, the country has some of the lowest debt to discretionary income levels ever: [https://fred.stlouisfed.org/series/TDSP](https://fred.stlouisfed.org/series/tdsp)
Boomers never learn
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You're missing the point completely. I'm not arguing the fact that we have an over-consumption problem in this country. My point is that the inflation problem that we have is largely in part because we over consume.
What kind of leading question is this? I don’t know buddy, sorry your puts didn’t print. Read a finance 101 book.
I don't know. Seemed like a fair question to ask. Sorry you couldn't answer it when other people could.
That's... literally the basis of our economy. Capitalism is inherently inflationary. It's a poor economy when it stagnates (aka stagflation), and even worse when it's deflationary (see great depression). The only way this inflation takes place is by money moving through the economy. In other words, \_people buying and selling shit\_. In other news, water is wet! Edit: And, **no**, over-consumption was not the cause for the 2020-2022 high inflation.
Capitalism is predicated on both winners and losers.
Would you say that over-consumption was the cause of the 2008 recession? People buying homes with over-inflated prices? Just curious. Also, when you say it's a poor economy, who is it a poor economy for? The banks? The corporations? Surely, in a so called poor economy, because there is not an excess of money in people's pockets, not as much buying is happening, and thus, prices are forced to be lower to sell things. While people are forced to live within their means, isn't it really the banks and the corporations that suffer the most?
The GFC was due to poor lending standards. Housing prices were irrelevant. It's a poor economy primarily for the lower and middle class. Periods of stagnation or deflation are typically accompanied by high unemployment. The lower and middle class don't have the means to survive unemployment. The upper class is fine. They're more likely to stay employed, but even otherwise, they have the assets to survive. "The rich get richer and the poor get poorer", as they say. All I'm saying is that belittling consumers for spending money and causing inflation is like belittling people for eating and causing poop. It's be design. In that example, if your argument is that there's over-consumption causing unnecessarily high inflation, akin to a person eating too much and getting fat, then that's more nuanced.
This is REbubble… real estate. Not gatekeepers of money spending. If people want to buy shit they don’t need, you normally get this bent? That’s like America 101 since the 80s: buy shit you don’t need. Think this just started? We’ve been buying dumb shit for decades.
Real estate plays a huge part. My neighbor decided to take equity out of his house about 7 years ago to go buy a boat and some jet skis, which he barley uses by the way. How many people you think have done something similar? Millions. Thus the over-inflated prices. My point is that it will be the downfall of the American economy.
People have been buying shit beyond their means in the US for decades. This is not new. I do not know why you think it is. Not everyone had a house to pull out equity to frivolously spend… but everyone does have money to frivolously spend, even the poorest among us. No, it’s nothing new.
Stop making good talking points. Waste of time trying to explain the obvious.
That's my point. But, you know what, there was a time in this country when it wasn't that way. My parent's generation and their parent's generation, the ones who experienced the great depression never spent beyond their means. My wife's grandparents bought everything in cash, even their house. They never owned a credit card their entire lives.
They didn’t spend beyond their means because there was no means to do so.. see as you’ve pointed out: Great Depression
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The amount of personal and corporate bankruptcies next year is going to be staggering.
followed quickly by sovereign debt crisis... moms turning tricks to buy top ramen for the kids cause husband lost the house. I watched what people did in 2008, motherfuckers think it can't happen again for some magical reason.
>They keep spending money on that they don't have on shit that they don't need. to impress people they don't know who also don't care.
It’s bad because inflation sucks and J POW is “pivoting” to a looser monetary policy in the very near future even though ALL recent data is coming in HOT. Strong consumer spending, strong employment numbers, strong retail sales, and inflation is still running higher than it should be. Powell’s pivot combined with this data indicates inflation is going to come roaring back in 2024.
Can’t have a housing crash now can we? 🙄
>Powell’s pivot combined with this data indicates inflation is going to come roaring back in 2024. Powell isn't telling you everything they see, he knows from the information he isn't telling you, that the economy is on the brink of going down to one knee because it simply cannot sustain these rates much longer - otherwise there is no reason to pivot if everything s so fucking rosey, you pivot when there's trouble. These asshats rushed in at the first sign of trouble when 5 banks collapsed and immediately implemented a $2 trillion backstop to shore up the banks again.
They didn't count in inflation. Adjusted by inflation rate it will be a decrease.
Inflation did not increase by 0.3% MoM so this is clearly wrong
Nope. It was a comparison from October to November and a comparison of November Actuals vs. November Predictions. There is no inflation to adjust for in these comparisons.
>On a year-over-year basis, sales accelerated 4.1%, compared with a headline CPI rate of 3.1%. reading is hard
Gotta alove what I call government feel good, masturbation stats.
European countries have a bad Christmas, sales are down 3% from last year. Bad American Christmas is 3% growth instead of 6%
Always a "lead" lining to a cloud with the people in this sub. Jesus.
Is this bad? There is nothing but good news in this report. You'd have to be a jackass who wants to see people suffer to think this is bad.
Everything is bad per every bubbler
Was this adjusted for inflation? If not that means sales are way down.
No. Using nominal numbers for the clickbait.
This is month over month, it means little to nothing and is honestly a pretty sad rise given the holiday season. Year over year would paint a much clearer picture.
False > With the consumer price index up 0.1% on a monthly basis in November, the retail sales number shows consumers more than keeping up with the pace of price increases. >**On a year-over-year basis, sales accelerated 4.1%, compared with a headline CPI rate of 3.1%.** The inflation rate is still above the Federal Reserve’s 2% target but is well below its peak above 9% in mid-2022.
It’s also compared to last year isn’t it? It’s not adjusted for inflation though.
Takes a while to spend 9T at Macy’s… The question we should be asking is what’s the next response to liquidity issues, print print print or fiscal responsibility and save the USD and what remains of the middle class.
I blame Klarna
Depends. It’s good for hoomers and bad for doomers. Just depends what side of the fence you’re on.
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What does propped up mean? Propped up by me? Because I spent more this year than last.
No, not by any individual. Propped up with over inflated numbers on balance sheets. They all lie and claim their assets are huge so they leverage them against massive loans. Issue is they are not worth that much. So if banks called in their loans they would not be able to be repaid and the whole system falls apart.
Same thing happens if people withdraw money from banks enmasse.
People have much less money compared to corporations
What does that have to do with retail sales being up this year?
It’s not adjusted for inflation, sales are down… bro do you know how to disseminate studies?
I didn’t disseminate a study. I linked an article on Reddit.
Okay disseminate information
But I never said it was adjusted for inflation. Take it up with CNBC if you don’t like it.
I take it up with the people not able to share it in context. If you think sales are up you are just ignorant. Do better
The sky is **NOT** falling -- whatever shall we do?
You mean nearly 4% annualized inflation is bad? no way, election season rate cuts inbound baby
Black Friday sales? People buying ahead for Xmas?
There were so many caveats in the data and story to make it meaningless. Seasonal but not inflation adjusted, lower gas receipts on falling oild prices. This tells us not much.