US stocks dropped for a second day of the short trading week on Wednesday, with the Dow Jones Industrial Average declining by more than 300 points as Treasury yields continued to spike.

An auction of seven-year Treasury notes was met with weak demand, marking the third sale of US government bonds this week to spark fears of oversupply amid forecasts of higher-for-longer interest rates.

The sell-off in the bond market comes ahead of two important data points for investors as they try to assess the path of interest rates for the rest of this year. On Thursday, first-quarter GDP will see its first revision, with expectations for growth to be lower than initially reported for the first three months of the year.

More importantly, on Friday, the Bureau of Economic Analysis will publish the Federal Reserve's preferred inflation measure. Price increases as measured by the personal consumption expenditures index are expected to be on par with March figures, rising 2.7%, according to economists' estimates. However, a surprise to either the upside or downside could have a big impact on stocks and the broader market.

Quote from: Herman on May 29, 2024, 10:27:08 PMSeamidget got a bad case of the squirts, or 'diaria."

He should tip his caregiver a couple of colons and get her to login for him so he can lash out at us in an incoherent manner like an eight year old with Tourette's. Apparently our current login process is to complicated for him.

Quote from: Lokmar on Today at 09:59:49 AM"Chris the nigger" Damn, caught in a brown on brown hate crime! Wait, brown peepoe cant be RAYCIS! 

You mean Democrats cannot be RAYCIS.

Without a doubt, Bidenomics has been a disaster for American families, with no relief in sight as the November election approaches. Yet, Joe Biden and his supporters have done everything they can to gaslight and spin their economic disasters and the country's overall economic malaise into a cause for celebration.

One cheerleading Democrat after another has tried to manufacture an alternate reality. Pay no attention to your skyrocketing bills. Never mind the tech layoffs. Inflation? What inflation? Perhaps the most outlandish spin so far comes courtesy of Brian Beutler, a senior editor at the New Republic, in a Substack essay titled, "Biden Beat Trumpflation and the Trump Crime Wave."

Beutler tries to bend reality from the start. "Trumpflation" — really? When Joe Biden took office in January 2021, inflation was running about 1.4% annually. In fact, under Donald Trump's tenure, then-Federal Reserve Chairwoman Janet Yellen said at one point that inflation was too low. And in May 2021, after Trump was out of office, Yellen, now helming the Treasury Department, said she didn't see any inflation problem ahead.

While year-over-year inflation measures peaked under Biden in June 2022 at around 9.1%, cumulative increases since he took office are nearly 20% as measured by the Consumer Price Index, with the real impact felt by consumers even more severe.

Speaking of his liberal friends, Beutler laments, "I don't know any who doubt my premise: Republicans would love to inherit this economy. They'd brag about how it became good the moment they took charge, and they'd quickly reap the political spoils." We have already established that the author and Democrats are both decoupled from reality, but wanting to inherit this economy? My goodness.

Nobody wants to inherit this economy.

Biden has not only fueled massive inflation but also embellished economic growth figures, which are now declining, with the first quarter GDP coming in nearly a percentage point lower than expected.

Growth in large part has come a result of the government running massive deficits. The U.S. deficit-to-GDP is currently around double the historic average. It is highly unusual for deficits to be that large when the economy is showing growth. More tax receipts should cut deficits. In an unfortunate turn of events, the Biden administration has done the opposite — it used deficit spending to create growth, something that has been done at an incredible cost to taxpayers, with interest rates near 15-year highs.

This has created a national debt nearing $35 trillion with interest expense at a $1.7 trillion run-rate. If nothing shifts in terms of spending or interest rates, debt service will soon become the largest individual government expenditure.

It gets worse, believe it or not. The Biden administration has weaponized the U.S. dollar, and we are now facing an acceleration of central banks and governments trying to reduce their dependence on the dollar as a reserve currency, which will ultimately make financing the U.S. government more expensive.

Americans are also contending with record-high household debt and a dwindling personal savings rate, coming in at less than half of the historic average for the first three quarters of the year, ending March 2024 at 3.2%.

On top of that, key provisions of the Tax Cuts and Jobs Act of 2017, including the lower individual tax rates, begin to expire at the end of 2025.

Whoever wins in November will need to contend with addressing that as well.

While living in a fantasy world is the Democratic Party's strong suit, let me say that nobody, and I mean no one, should want to inherit this fiscal mess. That is reality, and there is no way to spin it.

Quote from: Biggie Smiles on Today at 09:48:40 AMOh wait.. that's not Trump it's just another phony BLM supporting democrat


Remember when I told you guise that scumbags on the left will ALWAYS accuse others of exactly that to which they themselves are guilty?

https://justthenews.com/government/congress/rep-gabe-vasquez-used-racial-slur-2004-phone-call-former-colleague-report

Biden has got so many free passes over the past five decades of spewing ignorant racism from his sewer.

And look at Canada. Trudeau has a long history of racial taunts and he accuses the leader of the Conservative Party of courting racists.

Quote from: Shen Li on Today at 12:55:04 AMCanada is so screwed. A change of government will certainly help, but it won't fix everything.

That is the cold hard reality that nine years of arrogant economic incompetence and authoritarianism has put us in. Canadians will get some immediate relief when Pollivere is pm. The carbon tax will be history. Bills C-49 and C-60 will be repealed. Same with C-10 and C-18.

It will be trickier reducing the bloated size of the federal government. One of the biggest expenses under Trudeau has been interest on the debt. There will be fierce opposition to reduce wasteful spending.

Immigration will be another issue that it will be hard to restore sanity.

Quote from: Shen Li on May 29, 2024, 11:49:39 PMSeamunchkin's caregiver must've given him too many liquefied prunes.

He can't figure out how to login, so it makes sense he can't change his own Depends.

Quote from: Odinson on Today at 09:05:54 AMYou should become a trucker.

I´m envious of the guys who get to haul cargo through those vast distances and open plains of the USA.


Buy your own semitruck and haul cargo.

Most of the time they are driving through concrete jungles.

Quote from: Blazor on Today at 12:56:54 AMLol, that's awesome.

I feel like Im in good shape, and I feel fairly smart, lots of folks seem to think I am too. I just haven't found the right career for me yet, and that's sad, at my age, I think. I've never wanted to be rich, but I thought my Graphic Design stuff would take me places. After 20 years, I feel kinda done with that. I want something more, but I don't know what. At my current job, I feel like just a cog in the wheel. I have dumbass supervisors, so I don't feel like I will ever achieve grander status as long as Im under them, cause I see how they are. I think I've entered that so called "mid life crisis" shit I heard about hahahahaha.

Are you still working every Saturday?

Quote from: Blazor on Today at 01:02:48 AMIt's all so frickin' awful.

I watch a lot of DVDs lol. I have quite the collection. Lately I watch one episode of Dukes of Hazzard at night lol    I got that collection recently. I've always bought lots of DVDs, but lately, I been getting more, cause I've noticed the DVD section at WalMart has dwindled significantly, which could be an indication that they are trying to gear everyone to stream movies. That is bad, cause then THEY control what you watch, and they will remove any scenes they deem should be cut from other movies. I noticed this shit started long ago, when they started banning movies... one of which was one of my Mom's favorite Disney movies, Song of the South.

Nobody controls what you watch. People choose to watch American drivel.

There are so many options that excuse doesn't wash. Do some searching and venture outside your comfort zone.

By any measurement, Canada is performing poorly under Trudeau. Falling Canadian living standards are the price we all pay for his ideologically driven recklessness.





https://c2cjournal.ca/2023/09/trudeaus-economic-incompetence-in-seven-charts/

Quote from: Biggie Smiles on May 29, 2024, 06:27:42 PMLibtards - always guilty of everything they accuse others of

Lotus, Admin, and Blurt have all posted blatantly racist pablum on this forum. I would add Seamajor too, but he only posts the few words he can spell and some of them are racial slurs.

Quote from: Odinson on May 29, 2024, 05:37:32 PM

Someone posted that before. It might have been Mel.

A tire company in California was ordered to stop playing loud music near a homeless encampment after a homeless man filed a lawsuit against the company.

"The first night, I got to bed at 1 a.m.. The second night, I got no sleep during the night. And the third night, Sunday night, I had no way to get any sleep," said Bruce Gaylord to KGO-TV.

Gaylord said that he has lived in the encampment in the city of San Rafael, California, since last year after he stopped to get medications in Barstow to treat his mental illness and his truck was stolen.

The encampment is located next to the East Bay Tire Company on Lincoln Ave. Gaylord said that they recently began to blare out classical music in an effort to drive away the homeless people living there.

"It was painful," he said of the music. "That's how loud it was. Rock concert loud."

He said that he tried to call police but that they didn't help him. So, he called homeless advocate Robbie Powelson, who went down to document the music near the encampment.

Powelson filed a lawsuit against the company, and a judge ordered them to temporarily stop the music.

While the company denies that the music is intended to drive away the homeless, Gaylord said he will press on with the lawsuit in order to defend the people at the encampment.