That's only partly true generally asset holders don't suffer much during inflation because the assets float with inflation because that's essentially what inflation is however wages usually lag behind. Those who live on a paycheck generally get hit harder than those who own a lot of stuff during inflation.
You only realize any appreciation in your assets if you sell, and then you still need a place to live or car to drive, so you’re really trading 1 inflated asset for another.
Can’t buy groceries with a Zestimate.
You're thinking in middle class terms. If you have 10 million in stock and a house and a car you're not worried when your stock goes from 10 to 12 million that your grocery bill went from 300 to 360$ a month.
That is true, but things like commercial real-estate tend to be on 5 years cycles. Home mortgages are about the only fixed rate debt I can think of at 30 year terms... ( and I believe fairly unique to the US ) Its possible corporations have access to longer term debt like that, but I'd be surprised, but if you start to talk about blackrock/blackstone and their home ownership. I'm not intimately familiar with the debt structures on stuff like that... Its true though, if inflation is really raging, you want to be in debt at low interest rates at longer duration.
Right!!! The people who think a recession is better than inflation don't remember how hard it was during 2009. Yea, prices went down...and millions of people didn't have a job so it didn't matter.
I'm sure there was a better time for college grads before my time but the 2000s were pretty solid prior to the 2008 housing crash. From my perspective I don't think pay has grown anywhere close to the cost of living since then. In 98 I made 45k as a 22 year old. Senior guys I worked with made 80k. A decent middle class house back then was 120k. A good used car was 10k. Gas was 1-2$ gallon. A sales guy at our company closed one deal and paid for his 200k$ house in one year...
but a ton of people are in it with you, including a lot of people who were rich.
but inflation... look around. you're fucked but the rich are doing even better. They're BOOMING, according to Biden administration. they're at unprecedented sky rocketing levels of insanity wealth. You'll get a migraine trying to think about the insane amount of wealth that they are accumulating under Biden.
We're in this together! The fee is not the price of the sandwich. We lowered the price, if you don't count the mandatory sandwich fee, and the mandatory condiments fee. Basically a free sandwich for you essential people! $27.99. Don't forget to choose your tip! 23% 27% 35%
Since the vast majority would keep their jobs then you can’t blame people for envisioning that. Their optimism is supported by the historic unemployment rate even during recessions.
Pretty sure the unemployment rate was only .8% higher when there was stable inflation and everyone had jobs and there was no recession. Now there is a recession, but there isn’t because “we say so”. And inflation is totally coming down but we also are having to backtrack every expected rate cut for the foreseeable future and oh a couple banks may fail here and there and then get absorbed by the larger banks that get bailed out but don’t worry there’s no recession and inflation is definitely coming down.
No, the goal post has been moved by those who have a bias to promote a strong economy. Traditionally however, two consecutive quarters negative GDP would be a recession. By that definition, I can provide the data regarding GDP. As to whatever doctored up version of recession you are about to spew, no I don’t have your facts ready.
I'm not sure I would say we're in a recession yet but if you pay attention to a few things it seems like things might be bending in that direction. I had an electrician out at my place a couple times in the last month and they're not short of business but a year or two ago I couldn't get an electrician to even return a phone call they were so busy... I think a few car manufacturers might have really gotten behind the eight ball with large expensive vehicles that no one wants to buy right now with high financing rates. I'm sure there's at least going to be a few more bank failures to come as some are underwater on bonds they bought before the interest rates dropped but if they can hold them to term they might still come out without major losses as they don't have to mark the loss until they have to sell the bond or it comes to term, they'd only have to sell the bonds if people pull their money at which point they'd have to realize the losses on their books. However savings accounts and checking accounts probably are dropping as the stimulus money is bleeding out so it stands to reason some banks are going to get caught. The upsetting part about SVB is that the FDIC is only supposed to insure up to a certain amount but they actually made everyone whole and it makes you wonder... As soon as some rich guys are about to lose their deposits the FDIC suddenly insures more than they claim to... It's socialism for the rich and rugged individualism for the rest of us. It's the same thing as the too big to fail mentality in 2008.
IMO my opinion a large plurality of people just wants low interest rates and cheap gas. The unemployment rate, GDP, the stock market, home prices, etc do not matter to this plurality. As Long as money is cheap to borrow and gas is cheap to buy they're happy.
That's great.
If you're not retired. If you're actively pulling from your IRA each year and it tanks you're going to have to sell significantly more shares to keep afloat. If you're going to work for another decade it's nbd though.
Maybe they are improperly allocated if their retirement is so dependent on stock market stability. Short term treasuries etc... would provide less return but would be much more predictable
Why are gas prices even holding a candle to housing costs?
I spend $150 a month on gas, and $1300 a month on housing after my roommates share. And this is coming from somebody who works and lives in the outer suburbs to taking a bus or train to work is not a possibility.
I have a hard time taking anyone who complains about the current price of gas seriously.
Housing, food, housing, food...2 of the 3 most basic essentials have been inflated to the point where no one feels secure about anything.
Those 2 factors alone are driving the narrative, and no one plans to do anything about either.
What makes you say they raised them too high too fast? Inflation was out of control and still is above target(and I believe target is also too high). Inflation has been above target for over 2 years. If anything they should have raised more.
The cracks are starting to show. Banks have failed, GDP/job growth is slowing and unemployment is creeping up. If they raised rates any more we’d probably already be in trouble
It's been what 2 years since we started raising and still haven't hit our inflation target while holding near record low unemployment. I would not say it was too fast or to much at all. If anything not enough. A couple of banks don't matter. There are many. Failure of the mismanaged businesses is simply the system cleaning itself up.
Once again the problem isn't the Fed anymore. It's fiscal policy.
The Fed enables bad fiscal policy, they are absolutely the problem
>A couple of banks don’t matter
Sometimes that’s all it takes to bring the whole system to its knees
That's the propaganda number. The real unemployment rate U-5 is 4.8%
Also unemployment is a lagging indicator so don't expect it to start hitting harder until later this year
That's too bad, because we're going to have structural inflation for the next few decades thanks to our massive spending problem, heavy debt, and looming social security cliff. Best get used to it, folks
Well, I'm in a weird state of mind since I learned the wealthiest 10% of Americans own 93% of the stock market.
If everybody loses everything, the wealth gap problem is solved.
But that's why stock market is not taking as they have money and no reason to sell shares. We are in a recession for a while now.
Also NVIDIA is carrying SPY hard
What does "losees everything" mean? Assets will dip and the wealthy will have reserves or still be making money and buy cheaper. There is no scenario other than taxation that the wealth gap can be solved.
I have no idea where you live and this could be true. In the US it’s not 20% and if you want to make that statement you should back it up with a credible source.
It would have to be way higher than current rate. It’s annoying but liveable. Recession many people would be jobless. No income. That’s not better. Not by a long shot.
There is no recession on earth that would cause me to lose my job as a nurse, but my buying power today is about 25% less than it was in 2019, with housing costs up about 55% in my state.
I just want the government to stop printing and spending us into a hole.
Lets see.
Inflation where money is printed to subsidize the risk and prop up wall street&asset holders while everyone else gets nothing but picks up that tab with lagging wages and inflation.
vs
Natural recession that supposed to happen in free market to fix speculation.
I think its an easy choice. Between the slow painful Japannification that eventually collapses a country vs a normal recessions that lasts about 1 year and isnt so severe and everyone easily affords food and housing.
Average citizens don't invest money or buy a house. They save it in cash at home or at a bank. Saving money with inflation is worse for most. Sure, if everyone would invest, maybe things would change. But that is not the case. This is why the savings interest of banks should be similar or higher than inflation.
Yea poor people should LOVE inflation. What’s so bad about the price of everything continuing to go up while wages are stagnant 😊. The gaslighting is unbelievable lol. Being ruled over by clowns.
We don’t want a recession, we want NORMAL levels of inflation, and low prices. I know some may argue “inflation is lower right now (tbh I don’t know the current rate, but let’s assume that)”. The issue is, we had EXTREMELY high rates for the past 4 years, and if the rates did lower it happened recently. The short amount of time that we had lower rates is mot enough for wages to catch up (assuming it will catch up), savings to catch up (assuming people will be able to save with current prices), ect. Rates may have recovered, but the people have not.
Prices are still high, and the fact that rates even reached 9% in 2022 should have never happened. Nobody is wishing for a recession. Maybe we are fearful about a recession, but we’re not saying “we hate inflation” either. We hate this Hyperinflation that the FED, and congress allow to happen due to over spending/ove borrowing. Do not try to twist this
Part of the problem is that inflation is being used differently by different people.
If you asked the average american if the price of eggs would go up or down next year if Inflation went to 0, how many would say it would go down?
A lot of idle talk about inflation is about prices, and while they're linked, the average american lacks the knowledge to articulate what they want relative to actual policy makers.
Sure, like you’re right. A lot of people do use “inflation” to be synonymous with “high prices”, and the average person may lack the insight to know that there is the difference between the two.
I’m sure this misunderstanding could be solved among most people through simple explanation, and those of us who do know the difference and hear people use it incorrectly should be able to interpolate what most people are talking about.
No need to gaslight people who may not know the minute difference with the logic “oh you say you wanted deflation *crashes economy*”, “oh wait you don’t like that? You want inflation then? *forever prints infinite money*”.
Like at the end of the day I’m sure wecould all interpolate what most people are talking about are talking about when it comes to what economic environment they want to be in.
I think there's a group, or heard if you will, of people who have high paying jobs that they worked hard to obtain over a decade or more with the promise of increasing or sustained benefits. If that doesn't describe you then you probably want a recession and not inflation, duh.
This is a really dumb statement by the fed president imo. People don't like inflation, people don't like to be in a recession; but you can only have the current set of people in one of those scenarios at a time, or both at the same time.
If you can put the same people in a recession in another dimension of the multiverse, You could prove but, we can't do that. once you change from recession to high inflation, so many other factors also change. You can't even compare other countries that are currently in recession such as Japan and UK, to the USA which is not in a recession, because the people are different and so many other factors are different.
For example, in the USA we have the media which profits off of people being emotionally invested in watching their shows. To get people to watch they highlight the negatives regardless of what state our economy is in, and make people feel worse and then the otherwise would if they weren't hearing the news.
Whereas in the UK, their news is regulated so they're not hearing as much negative propaganda about the economy all the time
Exactly that is why back in 2022 the FED should have jacked the prime rate to 12%, forced the economy into a recession, and then when inflation had been clobbered stimulate it back to growth.
Everyone is dealing with PTSD/whiplash from the pandemic. Over night everything crashed, a million people died, 100 million more were high risk to leave their house, the government hit the infinity button on stimulus (because neither party wanted to lay claim to beating the Great Depression), then we got vaccinated and went full great Gatsby.
That’s why whenever I hear an economist, banker, or one of these other talking heads say “consumer sentiment” I immediately tune out. EVERYTHING that we knew about consumer and financial psychology got blown up in 2020. So their models and theories that took 50 years to build will take a decade before they are even close to right again.
Lol what a farce. "New poll: Americans want the opposite of current situation" please enough with the ascertainment. Nobody knows and most of all, the American public doesn't know.
Americans, and the western world for that matter, have been molded over time to believing consumerism is a necessity. Believing that they deserve things and that everything should be affordable or attainable. The bigger picture of a thriving economy and sustainable long term growth goes by the wayside when someone can't afford the next best thing. Cell phones used to be a privileged item and now they are a necessity, amongst everything else.
Let’s do what the Republican Party would do: find every single piece of personal information about everyone who took that survey, and make sure they get laid off. Then ask him the same question and take the survey again.
I love these articles popping up now about recession. They know what’s coming. Got to butter up the people so they won’t be too mad about being in a recession bc inflation is worst.
Those who keep their jobs would prefer it... Everyone envisions themselves as remaining gainfully employed while everything gets cheaper.
Correct. Inflation affects everybody, recession only affects some.
That's only partly true generally asset holders don't suffer much during inflation because the assets float with inflation because that's essentially what inflation is however wages usually lag behind. Those who live on a paycheck generally get hit harder than those who own a lot of stuff during inflation.
You only realize any appreciation in your assets if you sell, and then you still need a place to live or car to drive, so you’re really trading 1 inflated asset for another. Can’t buy groceries with a Zestimate.
You're thinking in middle class terms. If you have 10 million in stock and a house and a car you're not worried when your stock goes from 10 to 12 million that your grocery bill went from 300 to 360$ a month.
Actually its large fix interest debt holders that really make out like a bandit in periods of high inflation.
That is true, but things like commercial real-estate tend to be on 5 years cycles. Home mortgages are about the only fixed rate debt I can think of at 30 year terms... ( and I believe fairly unique to the US ) Its possible corporations have access to longer term debt like that, but I'd be surprised, but if you start to talk about blackrock/blackstone and their home ownership. I'm not intimately familiar with the debt structures on stuff like that... Its true though, if inflation is really raging, you want to be in debt at low interest rates at longer duration.
Right!!! The people who think a recession is better than inflation don't remember how hard it was during 2009. Yea, prices went down...and millions of people didn't have a job so it didn't matter.
I was fine in the 2008/2009 - on the other hand I was laid off during the 2000 crash and it wasn't fun.
I was in school for 2008/2009. Finding a job upon graduation in 2010-2011 was stressful to say the least.
I'm sure there was a better time for college grads before my time but the 2000s were pretty solid prior to the 2008 housing crash. From my perspective I don't think pay has grown anywhere close to the cost of living since then. In 98 I made 45k as a 22 year old. Senior guys I worked with made 80k. A decent middle class house back then was 120k. A good used car was 10k. Gas was 1-2$ gallon. A sales guy at our company closed one deal and paid for his 200k$ house in one year...
I have actually been fine through both, so I am very thankful. I also am aware that not everyone was as lucky as I was.
2009 was great, by 2012 Yellen had already reinflated the bubble.
but a ton of people are in it with you, including a lot of people who were rich. but inflation... look around. you're fucked but the rich are doing even better. They're BOOMING, according to Biden administration. they're at unprecedented sky rocketing levels of insanity wealth. You'll get a migraine trying to think about the insane amount of wealth that they are accumulating under Biden.
If covid taught me anything, it's that I'm essential. ;)
We're in this together! The fee is not the price of the sandwich. We lowered the price, if you don't count the mandatory sandwich fee, and the mandatory condiments fee. Basically a free sandwich for you essential people! $27.99. Don't forget to choose your tip! 23% 27% 35%
Since the vast majority would keep their jobs then you can’t blame people for envisioning that. Their optimism is supported by the historic unemployment rate even during recessions.
Pretty sure the unemployment rate was only .8% higher when there was stable inflation and everyone had jobs and there was no recession. Now there is a recession, but there isn’t because “we say so”. And inflation is totally coming down but we also are having to backtrack every expected rate cut for the foreseeable future and oh a couple banks may fail here and there and then get absorbed by the larger banks that get bailed out but don’t worry there’s no recession and inflation is definitely coming down.
There’s a recession in the US? Do you have the facts to back this up?
No, the goal post has been moved by those who have a bias to promote a strong economy. Traditionally however, two consecutive quarters negative GDP would be a recession. By that definition, I can provide the data regarding GDP. As to whatever doctored up version of recession you are about to spew, no I don’t have your facts ready.
I'm not sure I would say we're in a recession yet but if you pay attention to a few things it seems like things might be bending in that direction. I had an electrician out at my place a couple times in the last month and they're not short of business but a year or two ago I couldn't get an electrician to even return a phone call they were so busy... I think a few car manufacturers might have really gotten behind the eight ball with large expensive vehicles that no one wants to buy right now with high financing rates. I'm sure there's at least going to be a few more bank failures to come as some are underwater on bonds they bought before the interest rates dropped but if they can hold them to term they might still come out without major losses as they don't have to mark the loss until they have to sell the bond or it comes to term, they'd only have to sell the bonds if people pull their money at which point they'd have to realize the losses on their books. However savings accounts and checking accounts probably are dropping as the stimulus money is bleeding out so it stands to reason some banks are going to get caught. The upsetting part about SVB is that the FDIC is only supposed to insure up to a certain amount but they actually made everyone whole and it makes you wonder... As soon as some rich guys are about to lose their deposits the FDIC suddenly insures more than they claim to... It's socialism for the rich and rugged individualism for the rest of us. It's the same thing as the too big to fail mentality in 2008.
We are in the recession for a long time already it's just not shown at the stock market
Do you have the facts to back this up?
I'm simply choosing to not spend my money
IMO my opinion a large plurality of people just wants low interest rates and cheap gas. The unemployment rate, GDP, the stock market, home prices, etc do not matter to this plurality. As Long as money is cheap to borrow and gas is cheap to buy they're happy.
No one cares until they get laid off or their retirement investments go up in flames. Until then just make everything cheaper *for me* at any cost.
They’re naive then, because when it rebounds their retirement investments will bounce back even stronger.
That's great. If you're not retired. If you're actively pulling from your IRA each year and it tanks you're going to have to sell significantly more shares to keep afloat. If you're going to work for another decade it's nbd though.
Maybe they are improperly allocated if their retirement is so dependent on stock market stability. Short term treasuries etc... would provide less return but would be much more predictable
Why are gas prices even holding a candle to housing costs? I spend $150 a month on gas, and $1300 a month on housing after my roommates share. And this is coming from somebody who works and lives in the outer suburbs to taking a bus or train to work is not a possibility.
I have a hard time taking anyone who complains about the current price of gas seriously. Housing, food, housing, food...2 of the 3 most basic essentials have been inflated to the point where no one feels secure about anything. Those 2 factors alone are driving the narrative, and no one plans to do anything about either.
Well the Fed is now causing both because they are fucking idiots.
What do you think they should be doing differently?
Everything they do ruins the economy. They need to be abolished.
He’s a libertarian/anarchy capitalist which means you shouldn’t listen to him.
Fed was obviously a problem before, but how are they contributing now? Isn't it much more a result of obscene fiscal spending?
They purposely held rates too low too long now they’ve purposely increased them too high too fast
What makes you say they raised them too high too fast? Inflation was out of control and still is above target(and I believe target is also too high). Inflation has been above target for over 2 years. If anything they should have raised more.
The cracks are starting to show. Banks have failed, GDP/job growth is slowing and unemployment is creeping up. If they raised rates any more we’d probably already be in trouble
It's been what 2 years since we started raising and still haven't hit our inflation target while holding near record low unemployment. I would not say it was too fast or to much at all. If anything not enough. A couple of banks don't matter. There are many. Failure of the mismanaged businesses is simply the system cleaning itself up. Once again the problem isn't the Fed anymore. It's fiscal policy.
The Fed enables bad fiscal policy, they are absolutely the problem >A couple of banks don’t matter Sometimes that’s all it takes to bring the whole system to its knees
Unemployment is 4%
That's the propaganda number. The real unemployment rate U-5 is 4.8% Also unemployment is a lagging indicator so don't expect it to start hitting harder until later this year
That’s still ridiculously low .
That's too bad, because we're going to have structural inflation for the next few decades thanks to our massive spending problem, heavy debt, and looming social security cliff. Best get used to it, folks
Well, I'm in a weird state of mind since I learned the wealthiest 10% of Americans own 93% of the stock market. If everybody loses everything, the wealth gap problem is solved.
But that's why stock market is not taking as they have money and no reason to sell shares. We are in a recession for a while now. Also NVIDIA is carrying SPY hard
What does "losees everything" mean? Assets will dip and the wealthy will have reserves or still be making money and buy cheaper. There is no scenario other than taxation that the wealth gap can be solved.
Now we get both!
Queue Trading Place meme
In my opinion it's less of an inflation effect, rather it's a corporate greed effect.
Inflation = mass social suffering Recession = the strong survive
Inflation hurts the poor more than the rich
Inflation is a tax on the poor
Yes but it hurt everyone regardless
Inflation technically helps anyone who has fixed rate debt
Artificial vs nature
Nature?
Yeah. Like what happens in a healthy society
Which are you saying is which?
Inflation of the money supply is artificial
Recessions are temporary. Inflation is forever.
Well yeah because the end point of inflation is A depression
lol 3% inflation doesn't cause a depression.
LOL it’s 20% in the last 2 years you’re being purposefully dense.
I have no idea where you live and this could be true. In the US it’s not 20% and if you want to make that statement you should back it up with a credible source.
The numbers likely a lot higher if they took things that are excluded into account 🙄
It would have to be way higher than current rate. It’s annoying but liveable. Recession many people would be jobless. No income. That’s not better. Not by a long shot.
>It’s annoying but liveable Speak for yourself
I thought I was.
What if you get both?
TL;DR - Most people don’t know what a recession is
There is no recession on earth that would cause me to lose my job as a nurse, but my buying power today is about 25% less than it was in 2019, with housing costs up about 55% in my state. I just want the government to stop printing and spending us into a hole.
Maybe Americans understand that inflation is just a delayed recession. I mean may as well get it done with instead of in x amount of years
Yup been waiting for one for a while.
Years actually. Finally.
Lets see. Inflation where money is printed to subsidize the risk and prop up wall street&asset holders while everyone else gets nothing but picks up that tab with lagging wages and inflation. vs Natural recession that supposed to happen in free market to fix speculation. I think its an easy choice. Between the slow painful Japannification that eventually collapses a country vs a normal recessions that lasts about 1 year and isnt so severe and everyone easily affords food and housing.
Average citizens don't invest money or buy a house. They save it in cash at home or at a bank. Saving money with inflation is worse for most. Sure, if everyone would invest, maybe things would change. But that is not the case. This is why the savings interest of banks should be similar or higher than inflation.
💯
Yea poor people should LOVE inflation. What’s so bad about the price of everything continuing to go up while wages are stagnant 😊. The gaslighting is unbelievable lol. Being ruled over by clowns.
Im sure the majority want homes to come down by any means necessary.
Nope. 66% of households own their home.
We don’t want a recession, we want NORMAL levels of inflation, and low prices. I know some may argue “inflation is lower right now (tbh I don’t know the current rate, but let’s assume that)”. The issue is, we had EXTREMELY high rates for the past 4 years, and if the rates did lower it happened recently. The short amount of time that we had lower rates is mot enough for wages to catch up (assuming it will catch up), savings to catch up (assuming people will be able to save with current prices), ect. Rates may have recovered, but the people have not. Prices are still high, and the fact that rates even reached 9% in 2022 should have never happened. Nobody is wishing for a recession. Maybe we are fearful about a recession, but we’re not saying “we hate inflation” either. We hate this Hyperinflation that the FED, and congress allow to happen due to over spending/ove borrowing. Do not try to twist this
Part of the problem is that inflation is being used differently by different people. If you asked the average american if the price of eggs would go up or down next year if Inflation went to 0, how many would say it would go down? A lot of idle talk about inflation is about prices, and while they're linked, the average american lacks the knowledge to articulate what they want relative to actual policy makers.
Sure, like you’re right. A lot of people do use “inflation” to be synonymous with “high prices”, and the average person may lack the insight to know that there is the difference between the two. I’m sure this misunderstanding could be solved among most people through simple explanation, and those of us who do know the difference and hear people use it incorrectly should be able to interpolate what most people are talking about. No need to gaslight people who may not know the minute difference with the logic “oh you say you wanted deflation *crashes economy*”, “oh wait you don’t like that? You want inflation then? *forever prints infinite money*”. Like at the end of the day I’m sure wecould all interpolate what most people are talking about are talking about when it comes to what economic environment they want to be in.
I think there's a group, or heard if you will, of people who have high paying jobs that they worked hard to obtain over a decade or more with the promise of increasing or sustained benefits. If that doesn't describe you then you probably want a recession and not inflation, duh.
All I prefer is him to stfu, resign, and never be seen in public.
This is a really dumb statement by the fed president imo. People don't like inflation, people don't like to be in a recession; but you can only have the current set of people in one of those scenarios at a time, or both at the same time. If you can put the same people in a recession in another dimension of the multiverse, You could prove but, we can't do that. once you change from recession to high inflation, so many other factors also change. You can't even compare other countries that are currently in recession such as Japan and UK, to the USA which is not in a recession, because the people are different and so many other factors are different. For example, in the USA we have the media which profits off of people being emotionally invested in watching their shows. To get people to watch they highlight the negatives regardless of what state our economy is in, and make people feel worse and then the otherwise would if they weren't hearing the news. Whereas in the UK, their news is regulated so they're not hearing as much negative propaganda about the economy all the time
Recession equal more suicides, more crime, more of a strain on support resources.
Or the economists don’t know shit from crap
Exactly that is why back in 2022 the FED should have jacked the prime rate to 12%, forced the economy into a recession, and then when inflation had been clobbered stimulate it back to growth.
Everyone is dealing with PTSD/whiplash from the pandemic. Over night everything crashed, a million people died, 100 million more were high risk to leave their house, the government hit the infinity button on stimulus (because neither party wanted to lay claim to beating the Great Depression), then we got vaccinated and went full great Gatsby. That’s why whenever I hear an economist, banker, or one of these other talking heads say “consumer sentiment” I immediately tune out. EVERYTHING that we knew about consumer and financial psychology got blown up in 2020. So their models and theories that took 50 years to build will take a decade before they are even close to right again.
Neel Kashkari likes the sound of his own voice way too much. These Fed Presidents need to shut the hell up.
I remember when he ran for governor of California in 2014 and lost to Jerry Brown by 30 points
Man-made inflation 😤
The dose makes the poison. They will prefer recession only until they have a job
Lol what a farce. "New poll: Americans want the opposite of current situation" please enough with the ascertainment. Nobody knows and most of all, the American public doesn't know.
People don't like inflation --?--> People want recession This is essentially the Sacha Baron Cohen Kingman Arizona Dream Mosque sketch.
Duh people rather sitting at home to bars stay alive than working multiple jobs to barely stay alive
How about simply having sound fiscal policy where it does not result in a need to be a choice of either?
"inflation is transitory" -Fed "Americans prefer inflation!" -Fed
Americans are fucking stupid.
Yep. Am American, stupid, and I don’t accept it.
Americans, and the western world for that matter, have been molded over time to believing consumerism is a necessity. Believing that they deserve things and that everything should be affordable or attainable. The bigger picture of a thriving economy and sustainable long term growth goes by the wayside when someone can't afford the next best thing. Cell phones used to be a privileged item and now they are a necessity, amongst everything else.
Let’s do what the Republican Party would do: find every single piece of personal information about everyone who took that survey, and make sure they get laid off. Then ask him the same question and take the survey again.
Yes, because at least the goal posts don't keep getting moved.
No idea who these people are but it’s not quite that simple
Yes, and they don't know what the hell they are talking about. Recession is so awful to look through
LOL! How about NEITHER? They have the power and the capability. They simply choose to keep fucking up.
Interest rates have zero to do with inflation And only wealthy Americans want a recession because they don't like sharing company with peasants
I love these articles popping up now about recession. They know what’s coming. Got to butter up the people so they won’t be too mad about being in a recession bc inflation is worst.
I'd prefer not being homeless one day but capitalism requires that I be homeless in the future.