How is the Economy Doing Right Now?

[RileyG]

Charlie Kirk is dead, and you ask about the economy?!

Life is for the living. He already passed through judgment.

 

[Aryeh Jay]

Charlie Kirk is dead, and you ask about the economy?!

Correct. Now is not the time to be worried about the economy, the Epstein list that Charlie Kirk wanted released, or Trump's negotiations with China for a trade deal. We need to be focused on getting the most out of the assination of Americas beloved commentator Charlie Kirk and punishing the liberal left that made it happen with their unhinged hate speech and agenda.

 

[A2SG]

Correct. Now is not the time to be worried about the economy, the Epstein list that Charlie Kirk wanted released, or Trump's negotiations with China for a trade deal. We need to be focused on getting the most out of the assination of Americas beloved commentator Charlie Kirk and punishing the liberal left that made it happen with their unhinged hate speech and agenda.

Yeah, how dare the left be so irresponsible as to use their freedom of speech guaranteed by the First Amendment!! Don't they know how dangerous words can be?

Unless, of course, those words come from Donald Trump. Nothing he says could possibly ever have any negative effect, ever. Nope, not possible.

-- A2SG, know your rights. All three of them! (thanks Joe Strummer)....

 

[bèlla]

I heard this on a video. Here’s the original piece from Bloomberg and the video if you’re interested.

~bella

 

[CRAZY_CAT_WOMAN]

Farmers will get a bailout just like they did in Trump's first term.

Is that in Trump beautiful bill? Trump are ready screwed them out on the soybeans account. Who knows what else he's screwed the United States out of. He seems to care more about other countries, than the United States.

 

[camille70]

https://thehill.com/business/5549424-22-states-recession-moodys-analysis/

Around 22 states are either in a recession or on the verge of a downturn, according to a new analysis from Moody’s Analytics.

Wyoming, Montana, Minnesota, Mississippi, Kansas, Massachusetts, Washington, Georgia, New Hampshire, Maryland, Rhode Island, Illinois, Delaware, Virginia, Oregon, Connecticut, South Dakota, New Jersey, Maine, Iowa, West Virginia and Washington, D.C.

 

[camille70]

Well, That Was Fast: Trump Tax Law’s New Corporate Breaks are Already Worsening the Deficit

Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.

itep.org

A new Congressional Budget Office report finds the Trump administration’s latest corporate tax cuts, enacted earlier this summer, are already worsening the already-challenging federal budget deficit. Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.

 

[bèlla]

Is that in Trump beautiful bill? Trump are ready screwed them out on the soybeans account. Who knows what else he's screwed the United States out of. He seems to care more about other countries, than the United States.

I posted a screenshot of his progress for the Dept. of Agriculture through project 2025 earlier. You can view the changes and what’s ahead below.

Labor Dept warns Immigration Policies Threaten Stability of the Domestic Food Supply

Here, I want to put kids to work. 7th and 8th graders, as well as high school kids. I was just referencing the women workers during the world wars as an example of American tradition, and why hiring kids isn't outside of normal. There's another tradition for getting cheap manual labor.

www.christianforums.com

A new Congressional Budget Office report finds the Trump administration’s latest corporate tax cuts, enacted earlier this summer, are already worsening the already-challenging federal budget deficit. Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.

Trump made 3 financial promises during his campaign: reducing corporate taxes and capital gains and establishing a bitcoin reserve. Here’s a snapshot of his progress from the Project 2025 Tracker.

~bella

 

[Always in His Presence]

The Congressional Budget Office (CBO) projects total FY 2025 revenues at $5.2 trillion, a $245 billion (5%) increase from FY 2024’s $4.955 trillion. Revenues are expected to grow faster than outlays initially, helping narrow the deficit as a share of GDP from 6.2% in 2025 to 5.2% by 2027.

 

[camille70]

Auto loan delinquencies on the rise: Here's what that means for the economy

Data shows more than 5% of Americans with car loans are past due

Auto loan delinquencies on the rise: Here's what that means for the economy

Auto loans remain the second-largest debt category for American consumers, behind mortgages. Now, more people are falling behind on their car payments.

www.scrippsnews.com

Auto loans remain the second-largest debt category for American consumers, behind mortgages. Now, more people are falling behind on their car payments, with total auto loan debt reaching more than $1.6 trillion nationwide.

LendingTree data shows more than 5% of Americans with car loans are past due. The rates vary by state, with Mississippi nearing 10%, followed by 8.4% in Louisiana and 7.8% in Georgia.

 

[camille70]

https://thehill.com/business/5536134-employer-hiring-plans-low-report/

U.S. employers announced fewer job cuts in September, but hiring plans fell to their lowest level since 2009, underscoring uncertainty in the labor market, according to a Thursday report.

Companies announced 54,064 job cuts last month, down 37 percent from August and 26 percent lower than the same month a year earlier, outplacement firm Challenger, Gray & Christmas said. It was only the third time this year that cuts came in below the same month a year earlier.

 

[camille70]

U.S. consumers will pay 55% of Trump tariff costs, Goldman Sachs says - UPI.com

U.S. consumers will likely pay for more than half the cost of tariffs this year through higher prices, according to a new Goldman Sachs analysis.

www.upi.com

Oct. 13 (UPI) -- U.S. consumers will likely pay for more than half the cost of tariffs this year through higher prices, according to a new Goldman Sachs analysis.

Goldman Sachs economists predicted Sunday that U.S. companies will shoulder 22% of the tariffs, implemented by President Donald Trump six months ago, with foreign exporters taking an 18% hit by cutting prices.

"If recently implemented and future tariffs have the same eventual impact on prices as the tariffs implemented earlier this year, then U.S. consumers would eventually absorb 55% of tariff costs," according to economists.

 

[mark46]

U.S. consumers will pay 55% of Trump tariff costs, Goldman Sachs says - UPI.com

U.S. consumers will likely pay for more than half the cost of tariffs this year through higher prices, according to a new Goldman Sachs analysis.

www.upi.com

Oct. 13 (UPI) -- U.S. consumers will likely pay for more than half the cost of tariffs this year through higher prices, according to a new Goldman Sachs analysis.

Goldman Sachs economists predicted Sunday that U.S. companies will shoulder 22% of the tariffs, implemented by President Donald Trump six months ago, with foreign exporters taking an 18% hit by cutting prices.

"If recently implemented and future tariffs have the same eventual impact on prices as the tariffs implemented earlier this year, then U.S. consumers would eventually absorb 55% of tariff costs," according to economists.

OK.

I am surprised that the foreign companies and US importers chose to absorb 45%. Many of those companies will be forced out of business or to reduce the quality of their products. Of course, other companies will simply choose not to sell to the US, not being to raise their prices by enough to remain profitable. There are lots of products where consumers won't even pay for 55% of the tariffs. They will just buy another product.

Everyone involved in the sale of tariffed products to the US is a loser other than those companies who are able to sell more to non-US customers.

 

[camille70]

OK.

I am surprised that the foreign companies and US importers chose to absorb 45%. Many of those companies will be forced out of business or to reduce the quality of their products. Of course, other companies will simply choose not to sell to the US, not being to raise their prices by enough to remain profitable. There are lots of products where consumers won't even pay for 55% of the tariffs. They will just buy another product.

Everyone involved in the sale of tariffed products to the US is a loser other than those companies who are able to sell more to non-US customers.

I dont think it will go on indefinitely. I think they were trying to keep prices consistent and the business relationships and markets in tact until things blow over. Also, anyone who implied they had to raise prices due to tarriffs ended up on the receiving end of Trump's wrath. At one time Trump told Walmart they BETTER NOT raise prices.

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.

truthsocial.com

That won't go on forever, though, and I don't think things will blow over anytime soon. I've seen social media posts showing price changes and higher price tags over lower price tags at various stores.

 

[camille70]

Sheldon Whitehouse on energy prices

 

[bèlla]

Trump threatens Spain with tariffs over its NATO spending

President Donald Trump, speaking to reporters at the White House, threatened trade penalties, including tariffs, against Spain, saying he is unhappy with its refusal to raise defense spending to 5% and calling the move disrespectful to NATO.

 

[bèlla]

US Imports from Spain

AI Overview

From Spain, the U.S. imports goods such as machinery, pharmaceutical products, vehicles, olive oil, wine, refined petroleum, and agricultural products like fresh fruits and vegetables. Significant imports also include plastics, electrical and electronic equipment, and various chemical products, reflecting Spain's strong manufacturing and agricultural sectors.

Top U.S. Imports from Spain

Machinery & Equipment:
This category includes industrial machinery, electrical equipment, and machinery used in sectors like construction and telecommunications.

Pharmaceuticals & Healthcare:
Packaged medicines, vaccines, and healthcare equipment are major imports.

Vehicles:
Cars, delivery trucks, and associated parts are also significant exports from Spain to the U.S.

Food & Beverages:
High-quality olive oil and wine are particularly well-known imports from Spain.

Chemicals & Materials:
This includes refined petroleum products, various chemical compounds, plastics, and organic chemicals.

Agriculture:
Fresh fruits and vegetables, such as strawberries and other berries, are also imported.

Other Notable Goods:
This includes paintings, ceramic products, and various electrical and electronic components.

Key Sectors in Spanish Exports
Manufacturing:
Spain is a global leader in producing cars, industrial machinery, and various finished consumer goods.

Food and Agriculture:
The country is a leading exporter of agricultural products, especially olive oil.

Pharmaceuticals:
Spain also holds a strong position in exporting packaged medicines and other healthcare-related products.