Posted on 10/07/2023 7:58:50 AM PDT by Kaiser8408a
Bidenomics is an economy eater! But at least we know that the southern border is not on Biden’s mind or lips. But as Ronald Reagan once asked “Are you better off now than 4 years ago?” The answer? Most Americans are far worse off due to inflation and the surge in “Would you like fries with your burger?” jobs. And mortgage rates are up 171%.
After last month’s (September) stunning payrolls report, when in our post-mortem we revealed not only a year full of monthly downward data revisions, but also collapse in tull-time jobs and surge in part-time jobs, as well as the worst unadjusted August payrolls since the great recession, we thought that nothing could shock us any more. And then we got the September jobs report.
First, the 336K jump in headline payrolls – the biggest since January – was stunning when considering that it was not only above the highest Wall Street estimate but was a 6-sigma beat to expectations.
How is it possible to get such an outlier print to not only trends but expectations? Let’s try to answer that question.
And since the number of unemployed workers also rose to 6.360 million, the highest number since January 2022, the unemployment rate was sticky at 3.8%, and refused to drop to 3.7% as consensus had expected.
How about the Establishment survey? Well, here too, things stink. Yes, the headline surge was great, but the question here is how much of that was purely seasonals.
The official adjusted data showed this Leisure and Hospitality added a whopping +96k jobs. But unadjusted data showed that the sector lost 466k jobs in Sep. This means that the unadjusted private sector payrolls was -399!
(Excerpt) Read more at confoundedinterest.net ...
And then we have Hillary Clinton pulling a Pol Pot and suggesting de-programming of Trump supporters like in the movie “The Killing Fields.” Pol Clinton??
“branDUHnomics”! Let’s get it right.
“mortgage rates rates and are up 171% under Bidenomics.”
Man, I’m missing the math here, but I think I got it now.
I was thinking that 171% meant something like from 10% up to 17.1% (obviously not real rates...at least not yet), meaning nearly double, but it really means up to 27.1%, which is nearly TRIPLE the minimum rate that we had just a few years ago.
FBI thugs are targeting anyone who complains about ‘the state’ - everyone’s gotta be careful... Publicly we need to say how wonderful Bidenomics is working...
“Would you like fries with your burger?” jobs.
And those jobs will be disappearing - at least in California - where fast food workers demand $22/hour - and claim fast food work is a long-term “career” - when it was never meant to be.
I expect a lot of closures after this.
Business Insider:
“California governor signs fast food bill into law that could raise minimum wage for workers in the state to $22 an hour by next year.”
Bidenomics is badenomics.
“Up 171%” means the mortgage rate is now 2.71 times whatever it was at the start of Bidenomics. 100% at the start, then an increase of 171% makes 271%. Divide the percentage by 100 to get the amount.
...and with immediate results of Biden and Harris giving $6 billion to Iran, we’ll see a rather immediate spike in fuel prices over coming days. That will cascade to drive all prices up.
I know...my point is that the full effect of what’s going on doesn’t come through with 171%.
The wheels are coming off and the status quo is shattered so the fundamental transformation is upon us.
I guess we will find out in the next few years who decides what that means and who wins.
Mortgages aren’t anywhere close to the 12%+ that they were in the 90s. If we allow another stolen election, they will be.
I reread your comment more closely, and I think I got misled by your arbitrary choice of 10% as a starting rate. I do think that the writer should have given the actual starting and current rates, and perhaps also the percentage increase, rather than only the % increase. Or maybe he did, buried in the non-excerpted part of the article.
But the 171% increase figure sounds more dire by itself, as usual when dealing with relatively small amounts. You see the same thing when a headline will breathlessly cite a huge percentage increase of some minor pollutant, and then you find out that the 100% increase is maybe from one ppb to two ppb.
Anyway, sorry for the unnecessary correction.
Never fear, they are working towards Carter era records. These things don’t happen overnight. Mark my words, give it a few years and we’ll be there. The last couple years have significant parallels to ‘73 to ‘75. There’s another decade of this malaise; that’s if the Republic last that long.
Correct title: Biden is not in control.
Demonomics Is An Economy Eater! 885,000 Full-time Jobs Lost, 1.127 Million Part-time Jobs Added In September (Mortgage Rates Rise And Are Up 171% Under the Democrats)
Surprised?
No problem...all is good!
Went to McDonalds and you’d think paying $12-15 they’d at least have the ketchup dispenser filled. Asked for ketchup the kid gave us one packet each....I said more and he got two more, I said more and he gave us a fist full.
Idiot kids are still hired at McDonalds.
btt
Don’t forget 30 million illegals in the country sucking up benefits they don’t deserve.
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.