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/h/pol House Vampire Founder
Corp fat/cat/fatcat :marseyautumn: Pumpkin Spice Mafia Gang Gang :marseypumpkinvampire:  8mo ago (newsmax.com) Edited 8mo ago 2,725 thread views #238041
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  • JimieWhales : :marseymutt: still economically illiterate
  • Corp : ^ Please do not report my posts in bad faith. This is a warning ^
  • FormerLurKONG : Bad faith report :marseysmug2:
  • BimothyX2 : I will OWN the LIBS @jimiewhales
  • J : Vaccine misinformation
  • Healthy : rDrama Poll: Healthy has the lowest care about this post in over 10 seconds (before i read it)

:marseyitsjoever: ABC Poll: Biden Has Lowest Approval in 15 Years, 71% Say Economy 'Bad' :bidenshocked:

https://www.newsmax.com/newsfront/president-joe-biden-poll/2024/01/15/id/1149608

Link to actually ABC report

https://i.rdrama.net/images/17055104800285382.webp https://i.rdrama.net/images/17055104802475739.webp https://i.rdrama.net/images/17055104804747267.webp https://i.rdrama.net/images/17055104806990564.webp https://i.rdrama.net/images/170551048092448.webp

Course no /r/politics thread, wonder why :marseyhmmm:

edit: nvm :marseyhugpeepeehands: found it

funny picture

https://i.rdrama.net/images/17055104795048811.webp

related r/neoliberal cope: Don't count Biden out: January polls are historically unreliable

Sistas discussssss :marseynails:

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The economy is doing great, chud!

https://media.giphy.com/media/Y2ZUWLrTy63j9T6qrK/giphy.webp

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https://media.giphy.com/media/fZVZvW96AZHxFjhfn1/giphy.webp

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:marseyragecomicfu:

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The economy is doing comparatively ok but it's so blatantly obvious that all the thinkpieces about how people are big dumb dumb for thinking things are bad are just journos being agressively protective of biden.

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yeah, the fact that we're not actively in a recession is pretty great but acting like everything is amazing is delusional

it makes me think the people writing the articles don't have to worry about money in their lives because fricking everything is so expensive now

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Journos are all trust fund babbies

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https://i.rdrama.net/images/1705512587920535.webp

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Doordash guy took a post st. patricks day dump in her delivery box

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I want to start a competitor that delivers the cheapest avocado toast around, probably at a loss...but it's made with a slow-acting poison that kills the consumer a year later.

I'd be in my evil billionaire's underground bunker watching lazy r-slurs die on TV.

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use the shittiest avocados and bread :marseyfrenchitsover2: that you can find but say it's organic cruelty free made by a queer :marseylgbtflag5: BIPOC :marseylgbtflag5: woman :marseypennyboo: and charge :marseyrentfree: $30 each

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Not expensive enough, should be 60$

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fillet mignon avacado toast

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We would be in a recession if inflation wasnt ultra high.

The fact government keeps lying about literally everything probably doesnt improve the outlook

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Noooo GDP growth was totally over 5% in 2023 it was a fantastic year and not just a measurement artifacttttt

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>inflation at 10%

>gdp growth at 5%

:marseyrofl:

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The economy looks good if you only look at the stock market and unemployment numbers. Other numbers are being actively ignored bc its all a house of cards about to collapse. The fed doesnt even report M2 anymore since 2021 https://fred.stlouisfed.org/series/M2

M2 is the U.S. Federal Reserve's estimate of the total money supply including all of the cash people have on hand plus all of the money deposited in checking accounts, savings accounts, and other short-term saving vehicles such as certificates of deposit (CDs).

https://www.investopedia.com/terms/m/m2.asp

https://media.giphy.com/media/AiULidifE382HGxt5U/giphy.webp

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:#marseyreading:

This series will no longer be updated. More information is available in the notes below the graph. This series is the suggested substitute: M2SL https://fred.stlouisfed.org/series/M2SL

Oh, :marseyexcited:! This must mean the Fed economists have switched to a methodology that's scientifically superior!

>old M2

https://i.rdrama.net/images/17055148401973488.webp

>new M2

https://i.rdrama.net/images/17055148404221015.webp

Doesn't look like a huge difference. I wonder how M2 would look if they ran the series to Nov 2023?

Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.

Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1. For more information on the H.6 release changes and the regulatory amendment that led to the creation of the other liquid deposits component and its inclusion in the M1 monetary aggregate, see the H.6 announcements and Technical Q&As posted on December 17, 2020.

>from May 2020, add a bunch of stuff that makes M2 jump tremendously(?)

:marseywoozy:

I dunno, bros. That just seems weird.

Historically, M1 money supply included those monies that are very liquid such as cash, checkable (demand) deposits, and traveler's checks, while M2 money supply included those monies that are less liquid in nature; M2 included M1 plus savings and time deposits, certificates of deposits, and money market funds. Beginning in May 2020, the Federal Reserve changed the definition of both M1 and M2. The biggest change is that savings moved to be part of M1. M1 money supply now includes cash, checkable (demand) deposits, and savings. M2 money supply is now measured as M1 plus time deposits, certificates of deposits, and money market funds. L

>new M2 moved savings deposits into M1 because they're liquid enough

>M2 still includes M1

Oh, so the recent jump isn't due to economic chicanery :marseysigh:.*

@butthole @butthole @butthole :marseydisagree:

*They simply have no idea what's going on.... again! :marseysmug:
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Regulations changed on savings accounts to make them more liquid and more attractive.

Simply ignoring the change in regulations would've caused weird things to happen in the measurements, because people actively moved money into savings accounts. M1 would've fallen when the root thing it was measuring (money that can be spent now) went up.

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Read your own links. They changed what M2 measured, and so changed the name.

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They changed what M2 measured, and so changed the name.

>it measures a different thing and is called something different, butt they still report it! :soyjakhipster:

:#marseyxd:

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Did you ever try to transfer money into or out of your savings accounts more than 6x a month? And get a note from your bank saying "you shouldn't do this with a savings account"?

That mostly went away. Regulations allows for money in savings accounts to be accessed more easily.

M1 is (to simplify) money that is "ready to spend" and you can spend out of your savings account now. Not only that, but people moved money into savings accounts, check WDDNS.

And so savings accounts were moved from M2 to M1. If someone was just watching M1 like an r-slur and not aware of the change in savings accounts regulations, they would've thought a bunch of money just vanished into less-available space, when the literal opposite happened instead (more money becoming available to spend).

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China gov reports the economy is great too but their country lost 9 million people birth too death worst in history. Almost like people don't believe the fake central planners numbers that seem too show they're doing a great job. Look at the unemployment rate calculation and the inflation rate for instance if counted same as in the 70s we'd have

20% inflation and 15% unemployment rate

Trans lives matter

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Wagon-circling is such a red flag but journ*lists don't know how to not do it.

If the media, and Biden's press secretary, hadn't mocked inflation when it first turned up, people would be trusting them a lot more today.

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