US economy is booming, but people are not seeing it.

bryant.coleman

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Quote from: Karartma1 on May 09, 2021, 02:08:05 AM

Certainly the fully diluted with brrr money stock market is booming!
As for the real economy it is still unclear what the recovery will look like, it's far too early to see that.
Inflation could kick in very hard while the purchasing power of Americans will get smashed.
I don't buy into this fake recovery.

Stock markets may be booming due to monetary inflows from foreign agencies. There were reports that some of the Sovereign Wealth Funds (SWF) from the middle-east heavily invested in the American stocks during last year, when there was a market crash. But this inflow can get converted to a net outflow, in case the crazy proposal to tax capital gains tax at 40% is implemented. But for now, the middle class is happy with the market rally. They are benefitting from the higher stock prices.

Karartma1

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Certainly the fully diluted with brrr money stock market is booming!
As for the real economy it is still unclear what the recovery will look like, it's far too early to see that.
Inflation could kick in very hard while the purchasing power of Americans will get smashed.
I don't buy into this fake recovery.

Kamarah

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Quote from: Juggy777 on May 04, 2021, 09:04:38 AM

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

According to local news, the US economy is booming. Thanks to huge economic stimulus, the boost to Covid-19 vaccination and the reopening of the economy accelerated. This is a good sign for the United States. It proves that the people of this country are very good at preventing epidemics. Their lives returned to normal, incomes increased and people spent more. Other countries should also learn.

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Quote from: cabron on May 04, 2021, 09:23:05 AM

The government wouldnt be printing trillions of dollars to stimulate the booming economy if its true. There were even many riots going on and public shooting, this is a depiction growing frustration of the people while they already felt like Trump was bit better than Biden.

Economy is not booming anywhere in the world. There is inflation rising so fast thag even citizens receive stimulus package they still cant feel it because the food prices are soaring high.

Why would the government be printing trillions of dollars to stimulate an already booming economy? That's not the point of stimulus and not how stimulus works. You do stimulus when the economy is lagging. As it is, the economy is booming in the US, posting robust GDP growth. The US economy in Q1 2021 has already surpassed where it was in Q1 2019, so there's every expectation the economy will be back to where it was pre-COVID on a full-year basis.

stompix

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CNN on the 5th:

Quote

The US economy just notched its fastest first-quarter GDP growth in nearly four decades. Armed with stimulus checks and tax credits, Americans are spending aggressively. Hiring is surging as broad swaths of the economy -- including even New York City, the epicenter of the pandemic -- prepare to fully reopen for business.

CNN on the 7th:

Quote

The US economy added only 266,000 jobs in April on the anniversary of the worst job loss for any month on record. That was far less than forecasts of economists, who had predicted America would add 1 million jobs last month.
~
But the labor market isn't necessarily in trouble.

This happens when you simply can't admit that the democrats are not doing a better job at this than what Trump was doing, from November last year they have just managed to arrive at 8.2 million jobs lower than February 2020 compared to 9.8 in November, and this with relaxing restrictions all the time, at this pace it will take more than two years to match pre-pandemic levels. And the consequences are clear, they will need more checks, they will have fewer income sources, they will need to raise taxes, which leads to fewer jobs.

I wonder if they've realized that winning the election was more like getting a wrecked car as a gift that will cost you more to trash it than all the other presents combined. Grin

The really bad news for US non-Americans is that there is always a domino effect, wonder how long till it hits Europe.

Gyfts

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US unemployment rate increases slightly - https://www.latimes.com/politics/story/2021-05-07/jobs-report-shows-a-disappointing-april-rebound

Huge disappointment in the jobs report, projected hundreds of thousands of jobs less than what is predicted.

Maybe it was a bad idea to pay people to stay home and supplement unemployment checks and then force businesses to outcompete the government wage, because ya know, it's completely fair for the government with unlimited printing power to compete with businesses with limited capital Roll Eyes

Silberman

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Quote from: BrewMaster on May 04, 2021, 10:39:18 AM

maybe people aren't seeing the economy booming because there is nothing to see.
it makes sense too because i can't think of any world where the government prints such a huge amount of money that it sets a record compared to that country's entire history and then see the economy boom!
and that's just the tip of the iceberg. we had a lot of jobs lost and everyone's financial situation get worse with the pandemic that is still ongoing.

Agreed, anyone that sees the economy booming right now is either being paid by the government to say so or somehow is just believing what those so called experts are saying, the economy is in a very bad shape and this has been the truth since the 2008 crisis that we saw, at the time there was a desire to reform the economy but everyone refused and just kicked the can and now we are in this difficult situation, I believe they will kick the can again but this time around the can will not move and will force their hand and most likely a new crisis will manifest out of it.

GeorgeJohn

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Quote from: Juggy777 on May 04, 2021, 09:04:38 AM

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

This language booming is some how contradicting everything here, I really want to Know in what aspect US economy is booming, is it in cryptocurrency level or in political aspect of it, really we are not seeing it as you state categorically about booming of their economy, what I want to understand is that explains more brief for we to comprehend more.

doomistake

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US economy is booming? Think again and do your research. US has been printing excessive money to sustain its economy. The uncontrolled number of covid-19 cases each day was still reported. Let's say, the economy is really growing by now, however, because of the difficult circumstances that people are facing, they won't be able to feel the economy is spiking.

Personally, as an average citizen myself, I seldom feel the "growth" of the economy of our country. Simply because it wasn't reflected in the community, prices of goods and services, salary given, and even in healthcare services. Normally, the upper class feels most of the positive effects of economic growth. The working class can hardly tell the difference between the usual and booming of the economy. On the other hand, it's the working class that is very much affected when the economy of a country starts to decline.

Lorence.xD

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Quote from: suryogandul on May 06, 2021, 09:05:34 AM

why haven't people seen the US economic boom? because many people are still in a situation of the Covid 19 pandemic where the world economy is experiencing a decline. I think people are not too focused on paying attention to the economic condition of a country, they are focused on fighting Covid 19 and thinking about health. so maybe a boom in the US economy will be seen when covid 19 ends

It's only booming for the industry that was active during the pandemic so the people don't see the effects of a booming economy. The problem is that US government doesn't have programs that are targeting the individuals that are effective and efficient so I think that this kind of boom isn't beneficial besides the people that are in the upper echelons.

LUCKMCFLY

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I think that the most influencers in the world of the economy are taking advantage of the best time to take advantage, this is the case of Ivanka Trump, the Arte Surfside luxury apartment in Miami, will begin to accept Crypto as a form of payment priced at $ 38 million, where the cheapest condo starts at $ 10.3 million, apparently people when they start to see this type of business and can be paid with Crypto will attract new demand to the market, or at least everything is on the right track.

Quote

The region’s "most exclusive" condominium is already home to Ivanka Trump and Jared Kushner, as well as fashion blogger Arielle Charnas from Something Navy. It’s now attempting to appeal towards crypto millionaires and billionaires attracted by Miami's Bitcoin-friendly reputation.

Source: https://cointelegraph.com/news/ivanka-trump-s-luxury-miami-apartment-block-accepting-crypto-for-condos

Sithara007

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Quote from: Febo on May 06, 2021, 08:47:11 AM

Yes, vaccines are in short supply in most of countries right now but sooner or later that will end. And when it will end, countries where people will vaccine will have 70% population vaccinated (since kids can not be vaccinated that mean that there has to be 85%+ adults vaccinated to reach 70%). Others countries with have 50% or 40% people vaccinated. And that will be to little to prevent further spreading of covid. Those countries will suffer most on long term.

The US has currently approved vaccinating those in the 12 to 18 age group, so the coverage can be over 70%. And for those below 12 years, trials are ongoing and I guess these groups also will be allowed for vaccination soon. But the main issue here is the availability of vaccines. Pfizer and Moderna are making billions of USD in profits, while people are dying in poor countries. Only very recently, the American regime reacted positively to the suggestion of waiving IP for the COVID 19 vaccines. But I don't know when that is going to happen, as the pharma giants are opposing this move.

Hydrogen

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Can the US economy be "booming" with COVID restrictions remaining in place?

Pfizer's profit margins are booming thanks to COVID-19 vaccine revenues.

Quote

Pfizer posts $4.9 billion profit in the first quarter as vaccine strategy pays off

https://www.bostonglobe.com/2021/05/04/business/pfizer-posts-49-billion-profit-first-quarter-vaccine-strategy-pays-off/

Aside from those benefiting from the pandemic, which segments of the US economy are "booming" atm?

Gas prices are high. Thousands of jobs were lost. Many businesses went bankrupt. All thanks to lockdowns. The only things doing well were gamestop, dogecoin and for some bizarre reason the US stock market continues to trend higher. When every basic indicator suggests the opposite should have occurred over the past 6 months.

suryogandul

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why haven't people seen the US economic boom? because many people are still in a situation of the Covid 19 pandemic where the world economy is experiencing a decline. I think people are not too focused on paying attention to the economic condition of a country, they are focused on fighting Covid 19 and thinking about health. so maybe a boom in the US economy will be seen when covid 19 ends

Febo

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Quote from: Vishnu.Reang on May 05, 2021, 12:21:37 PM

Vaccination rates are low in other countries, because the vaccines are not available. As simple as that. Being an Indian, I am trying hard to get myself vaccinated for the last 3 months. Unfortunately no slots are available, because the vaccines are in short supply.

Yes, vaccines are in short supply in most of countries right now but sooner or later that will end. And when it will end, countries where people will vaccine will have 70% population vaccinated (since kids can not be vaccinated that mean that there has to be 85%+ adults vaccinated to reach 70%). Others countries with have 50% or 40% people vaccinated. And that will be to little to prevent further spreading of covid. Those countries will suffer most on long term.

Koro-Sensei

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Quote from: Juggy777 on May 04, 2021, 09:04:38 AM

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

It's not a secret that U.S. is trying to get up faster than any country when it comes to economic aspect. They should be specially that China (as their biggest rival) is now at the top while others are deeply drought. They should do what others cant do or else China's bullishness will never be matched by them again.

sheenshane

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Quote from: Juggy777 on May 04, 2021, 09:04:38 AM

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

It might the reason behind that besides people always wanting more and being ungrateful is that not all people benefit from a booming economy. That’s very impossible.

But actually, I don’t really see the US having a booming economy. Economically wise, my presumption is US’s gap is going downwards.
Fiats are being printed almost every day for band-aid solutions for this pandemic and loans have been executed in the world banks and lastly, 70% of the workforce couldn’t move properly yet because of the pandemic. Not all of the businesses and industries could be done remotely.

Economists once said that it would take 10-15 years for the U.S to recover from the loss they had during the pandemic, slowly but surely.

Just my two cents.

arallmuus

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Quote from: Vishnu.Reang on May 05, 2021, 12:21:37 PM

Seriously? The Americans have hoarded all the vaccines that are available (including some that they are never going to use) and now the excuse being given is that in other countries the people don't trust vaccines? Vaccination rates are low in other countries, because the vaccines are not available. As simple as that.

Its the jungle law of this world, the strong takes everything. In this context that means the country with the higher economy gets to take everything alot more then some other country.

Quote from: dothebeats on May 04, 2021, 12:53:06 PM

It's because most of the trillions printed in the past few months went only to a select few uber rich guys while the rest of the population, after spending their money, felt left out. The economy is not going any better for the middle class and for those even lower than the middle class. It's only for those whose businesses are well-established that even in the midst of the pandemic, they would still post good gains while the rest of the population are left to look for scraps. Inflation is still looming and rising, yet the stocks are getting overvalued and highly inflated as the clock ticks.

Thats also one of the reason why we are in bull market right now. Due to all of these actions as well as the unemployment rate, the US treasury bond interest rate has been quite low for some time. Some hedge fund took 1-10% of all those money they managed and put it into crypto market which increase the overall crypto marketcap. If it wasnt for this then we wouldnt be in this bull season right now

magneto

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There is a difference between the stock market and the real economy.

The stock market going up has no direct impact on actual consumer welfare, which is a misconception that politicians seem to always exploit.

Threats of reflation are also very real, and people seem to be completely neglecting that. They think that they are nominally richer because of all the stimulus that has been pumped into the system, whilst neglecting the fact that all the QE will essentially dilute their purchasing power.

The fiat economy is a mess - it's no wonder people are flocking to cryptos.

wiss19

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Quote from: darewaller on May 05, 2021, 03:52:23 PM

Quote from: Juggy777 on May 04, 2021, 09:04:38 AM

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

In order for people to realize this, first we have to look at the sentence "US economy is booming", I mean is it really? If people are not seeing it, who does? There are few elites that make a ton of money and the stock prices increase because of that and you think that constitutes as US economy booming? Just because stock prices are higher doesn't mean that economy is booming, it just means that some companies are making profit that’s it.

Yeah, this is why people think the most wrong ways possible and that is the problem here. They see that stocks in general are up 10% and they think economy is doing great because of that but the reality is that people around the corner to them are failing to pay their rent, how can that be alright? I mean if it was one or two or three or thousands I would still understand, but we are talking about tens of millions of people in poverty, nearly 41 million people are in poverty, and that is just USA.

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