Non-Costco gas in Socal for basic grade: 5.70 (gas buddy low) Can you spin donuts in your F150 for me?
I wasn't betting you on gas prices. My bet was when gas ultimately becomes 3 dollars sometime this year his approval will be near 50% nd I wager on that. Americans just care about gas prices under biden. Sub 3 dollars is happening sometime this year not sure when. Maybe November maybe Dec
on the week of 3 Oct 2023, in Calif, gas price was ~~ $6.50; this week, it is ~~$5,30; an 18.5% decrease in 3.5 weeks
Despite the high cost of gasoline and the high cost of borrowing---attributable to Russian invasion of Ukraine--the US Economy Grew at a 4.9% Pace Last Quarter, Fastest Since 2021 Gross domestic product accelerated to a 4.9% annualized rate, more than double the second-quarter pace, according to the government’s preliminary estimate Thursday. The economy’s main growth engine — personal spending — jumped 4%, also the most since 2021. The world’s largest economy has remained steadfast in the face of high prices and a rapid run-up in borrowing costs, repeatedly outshining forecasters’ expectations and tempering recession fears. The primary driver of that resilience is the enduring strength of the job market, which continues to fuel household demand. go Brandon!!
Don't gas prices usually come down in the winter based on them changing the chemicals they put in gas? I always thought summer prices were higher because they have to put more expensive additives for the hot summer months plus a lot more people travel, so demand is even higher.
Rampell also makes these points: That said, other economic indicators lately look solid, too, including data on rising wages. why are the numbers so much stronger than professional forecasters had expected? And why don’t Americans seem to believe them? No one (including yours truly) knows the answer to either of these questions for sure. But the ambivalent consumer appears to be key to both. Consumer spending has lately been defying gravity. Despite inflation, and despite rising interest rates that make all kinds of purchases more expensive, consumers continue to keep their wallets open. Maybe they got into the habit of spending more money; maybe they feel pressured to keep up with the Joneses; maybe they’re feeling more flush than they let on. Whatever the case, they’re still spending — and they’re a central reason that economic growth has been unexpectedly resilient. Meanwhile, consumers’ stated outlook on the economy is completely at odds with their spending behavior. In fact, according to the University of Michigan consumer sentiment index, On nearly every metric, the economy looks better today than it did then — and yet consumers still hate this economy about as much. The one outlier measure, of course, is inflation. Even though it has slowed quite a bit lately, people are clearly still furious about the price growth they’ve already endured. Maybe this isn’t so surprising. Historical research from developed countries suggests that few things make the public angrier than an unexpected burst of inflation. Plus, as poor as Biden’s polling (especially on the economy) has been, note that leaders in other countries that are enduring high inflation are mostly polling worse than he is.
on the heels of this upward trending GDP data, , as well as the Fed's decision to hold off on raising interest rates for a second straight meeting, two updated lagging economic indicators provide corroboration that inflation is under control. October payrolls rose 150K, 30K below estimate Unemployment rate unexpectedly climbed to almost two-year high of 3.9%, indicating that employers’ strong demand for workers is beginning to cool. These developments bode well for the "inflation has been contained" camp
in the midst of these positive developments, Robust GDP growth soft landing no more rate hike this year, maybe rate cuts next year, not surprisingly, Wall Street notches the best week of the year, a picture is worth a thousand words, see the $SPX (standard and poor 500 index) abruptly bounced off its lower downward trend line
Future Trump voters? Damn, politics are much harder than the Rockets winning the chip again. “When black women vote, we all win”…at losing more brain cells?
