Posted on 09/06/2022 8:00:37 AM PDT by george76
They do the same with inflation and energy statistics.
How much of that ‘economic momentum’ is from Calif businesses moving here-—and then Sisolak taxing the hell out of them ????
Strategic Petroleum Reserve is also DANGEROUSLY LOW.
I have a bridge to sell you here in the High desert of Nevada.....
Not here either-—carried our stacks of books.
I am always reminded of the movie “Dumb and Dumber” when Harry and Lloyd fill the suitcase that used to contain cash with lots of handwritten IOU’s.
I wish I could laugh but its not very funny to me.
WE had trucks with gun racks in them-— full during deer season.
WE had to carry our lunches—thru High school. NO Cafeteria—But here was a dispensing machine that gave us 8 oz of milk in a small container -—for 5 cents.
I still maintain that we got the very best education possible.
I would NOT trade it for ANYTHING out there today.
All 4 of us siblings were self-employed-—3 had employees-—from 2 to 65.
Yup...us too.
Sarah and husband have 5 kids and pull in 100,000.00 per year and live in the Poconos (PA) Now I’m even more interested in seeing her monthly spending priorities. Also the article never mentions Biden or any context for rising inflation. Just a mysterious thing happening to nice people.
#1 in economic momentum. Whatever that’s supposed to mean.
__________________________________
Either the last horse standing at the glue factory or the one falling the farthest and fastest.
Which gets to the shadow stats quite nicely.
But does it include SS, SSI, and such? My elderly mother is on Social Security, and is not working.
In elementary school I barely brought lunch. You’re in my mother’s time, we had cafeteria food fixed by real grandmother’s who knew how to make the best of poor ingredients.
But high school was just canned, reheat crap.
That’s when I brown bagged it every day.
If things were in a good place we’d be in good position?
For five cents we got a small carton of milk, maybe five ozs.
Before Covid I paid $23.60 for a 4x8 piece of 26 gauge sheetmetal to make fittings for residential ducting. At the height of the inflation it went up to $54 and now it is back down to $34.
Banks are not safe. What I wrote meant that you should not have all your savings in one bank, particularly the lage banks. We spread our savings around, mostly in a local credit union that has better protection than the FDIC.
Are you aware that if there is a bank run, that the FDIC won’t protect your account? Recent rule changes allow the banks to convert your deposits to shares of the bank. They own your money, not you. If the bank loses value, say by 50 percent, then they will lower your “share” of the bank by 50 percent, and that is all FDIC will pay out as insurance. There is a liquidity disaster in the making at large banks, and some will go under soon. That is why we began shifting large sums out of banks lately, and into safer venues.
As for us and our family, we don’t rely just on luck; we’re proactive.
Yes. My wife and I both collect income from pensions and Social Security. But that is not our sole income. We don’t rely on them, but have investments and savings. We have never trusted government to provide meaningful Social Security.
Tyler Durden’s Photo
BY TYLER DURDEN
TUESDAY, SEP 06, 2022 - 08:20 PM
Over the weekend, in Morgan Stanley's Sunday Start note, the bank's in-house permabear Mike Wilson, previewed the topic of his weekly fire and brimstone sermon, which ironically was fire and ice, part 2, and his justification for why stocks are going far lower: his view that “this this time the decline in stocks will come mostly via lower earnings (and a higher equity risk premium) rather than higher rates” adding that the bank's leading earnings models are all flashing red for the S&P 500, “and we have high confidence that the decline in NTM S&P 500 EPS forecasts is far from over.”
Well, judging by today's aggressive ERP expansion which saw all asset slump, Wilson was right again (and as usual miles ahead of the consensus). But just so Wall Street is up to speed with his latest worldview, Wilson spends much of his latest weekly note laying out his new concept, writing that while “fire and Ice” - Wilson's framework which defined much of the past year - has proven to be an effective way to describe the first half of this year - as Fed tightening in response to historically high inflation, the Fire, has weighed heavily on valuations for all asset markets while growth has also disappointed...the Ice - he writes that “part 2 will turn out to be more Icy than Fiery as slowing growth becomes the bigger concern for stocks, rather than inflation and the Fed.”
Here are some more details on how Wilson sees the transition from part 1 to part 2 of “fire and ice”:
...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.