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Time's Person of the Year Is Donald Trump... Obviously
The Morning Rant: Minimalist Edition Mid-Morning Art Thread The Morning Report — 12/12/24 Daily Tech News 12 December 2024 Wednesday Overnight Open Thread - December 11, 2024 [TRex] For the Birds Cafe NYT: The Biden "Immigration Boom" Is the Biggest In This Country's Almost 250-Year History; 60% of Recent "Newcomers" Entered Illegally Utah Man News West Point Administrator Colludes With Leftwing Attack Dog to Smear Pete Hegseth With Completely-False Lie Absent Friends
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June 04, 2024
Wall Street Journal: Unexpectedly. the Economy Is Grinding to a HaltBest economy in history, Jack! My word as a Biden. Also I was appointed to Annapolis but blew it off because I was a Big Football Hero but Annapolis already had Roger Staubach as a quarterback so I went to the University of Delaware and rode the bench, Jack!
So income and disposable income actually fell. Got it. An important measure of regional economic health fell: Also on Friday, the Chicago Business Barometer, also known as the Chicago purchasing managers index and a gauge of economic activity in the region, fell to 35.4 in May from 37.9 in April. The importance of regional PMIs shouldn't be exaggerated, but this one seemed more noteworthy than most. It was at its lowest since May 2020, during the lockdown period of the pandemic, according to FactSet.
When the economy is slow or tipping into a recession, they lower interest rates. This allows the big banks to borrow money at low rates, which they then lend to companies at low rates. The net effect is to magic more dollars into the economy. This is inflationary, of course, but they think that goosing the economy with more dollars is better than a deep recession. When there is too much inflation -- too many of these magicked-into-existence dollars floating around -- they raise interest rates. So the big banks borrow less money and have less money to lend out. The money supply drops, which will, over time, reduce inflation, because inflation is caused by a surplus of dollars which cheapens the value of each dollar. The Fed is currently keeping interest rates at an elevated level to try to sop up some of the excess dollars that have caused 20% inflation over the past three years. So what does the Fed do when economic activity is grinding to a painful halt? They usually reduce interest rates. But they can't reduce interest rates, because inflation is already very high. Biden should be proud. 1970's style stagflation -- which is inflation plus low growth -- is back, baby! | Recent Comments
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Time's Person of the Year Is Donald Trump... Obviously
The Morning Rant: Minimalist Edition Mid-Morning Art Thread The Morning Report — 12/12/24 Daily Tech News 12 December 2024 Wednesday Overnight Open Thread - December 11, 2024 [TRex] For the Birds Cafe NYT: The Biden "Immigration Boom" Is the Biggest In This Country's Almost 250-Year History; 60% of Recent "Newcomers" Entered Illegally Utah Man News West Point Administrator Colludes With Leftwing Attack Dog to Smear Pete Hegseth With Completely-False Lie Search
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