35
Ahhh, excellent news. I already feel less hungry!
"The Economy" is doing well, because price gouging is out of control.
Regular Americans being broke and hungry helps the economy because it means we have to spend money as soon as we get it.
The price gouging helps even more, because it's pure profit, there's no reason prices went up besides people will pay it when there's no other options.
If just fast food went up, people would eat out less, but when groceries, restaurants, and every other option for food sees price increases...
People still got to eat
Hurray for the handful of people that actually benefit from that!
Anyone with a retirement plan benefits from it, which, according to census.gov, is at least half of the population over age 24. You should open one - it’s easy!
You think all stonks go up?
Any regular person putting significant cash in individual stocks instead of index funds is just gambling. All US broad market index funds beat inflation over every 10 year period since index funds have existed.
The S&P 500 has increased 2100% since 1993.
What do you think? Do you have an investment account?
31,188.38 the day Uncle Joe was sworn in, so +8,811.62 - 28.25% of what he started with.
By point of comparison:
Trump:
1/20/2017 - 19,827.25
5/15/2020 - 23,685.42
+3,858.17 - 19.46% of starting value.
Obama 1st Term:
1/20/2009 - 7,949.09
5/16/2012 - 12,598.55
+4,649.46 - 58.49% of starting value.
Obama 2nd Term:
1/22/2013 - 13,712.21
5/16/2016 - 17,710.71
+3,998.5 - 29.16% of starting value.
Source:
https://finance.yahoo.com/quote/%5EDJI/history/?period1=694362600&period2=1715877818
I should open a yacht company and get in on this good economy
This is the best summary I could come up with:
The Dow Jones Industrial Average stock index hit 40,000 for the first time Thursday amid renewed investor hopes for a "soft landing" for the U.S. economy following a favorable inflation report.
The Biden-Harris campaign released a statement calling the milestone “just another example of how President Biden is strengthening our economy and helping to secure the retirement of millions of Americans across the country.”
“The news on Core inflation [excluding food and energy prices] was better than expected,” Gary Pzegeo, head of fixed income at CIBC Private Wealth US, said in a statement.
The Dow Jones Industrial Average fell about 5% between the end of March and the beginning of April as economists and investors fretted over whether or not progress on inflation had stalled.
"Following three months of inflation upsets, the April report put a soft landing and 2024 rate cut back in investors’ sights," Julia Pollak, ZipRecruiter's chief economist, said in a statement.
Publicly traded American companies aren’t seeing it, as corporate earnings expectations move steadily higher," Bankrate analyst James Royal said in a statement.
The original article contains 729 words, the summary contains 174 words. Saved 76%. I'm a bot and I'm open source!
this post was submitted on 16 May 2024
35 points (85.7% liked)
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