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Has the U.S. economy reached a turning point?
- happytiger 3y agoI hate it when company PR and advertising makes it to hacker news as “news.”
- MilnerRoute 3y ago"A year ago, income gains were being wiped out by high inflation. Not anymore. Since last year, inflation-adjusted hourly earnings have gone from worst to first, reaching the top quartile of all readings going back to 1965."
- jmpman 3y agoHousing is not healthy, and the commercial real estate sector is about to implode. This analyst is a bit too rosy. But I’d like to believe.
- Arrath 3y agoConsumer auto-loans aren't looking so hot, either.
- userinanother 3y agoCorporate profits will be impacted for a long time by rising rates.
- miked85 3y agoA turning point for the better? It certainly doesn't seem like it.
- tick_tock_tick 3y agoIt seems so. Currently, all signs point to us entering the second year of another massive bull run.
- nelox 3y agoEvery point in an economy is a turning point
- refurb 3y agoIt's pretty wild. I've been alive for 4 decades and paying attentions to media coverage of the market for 2 decades and there hasn't been a single month where the market was about to implode according to journalists.
- latency-guy2 3y agoI have about the same span and I've heard that this is the fall of "capitalism", whatever the hell that is, for the entire time as well. Maybe this time they're right? I don't know
- kelseyfrog 3y agocapitalism is a lot like masculinity - perpetually in crisis
- latency-guy2 3y agoI'd understand what dichotomy you're presenting if you could define either of them
- cplusplusfellow 3y agoI’ve been masculine for 4 decades and have never considered myself “in crisis” because of it.
- kelseyfrog 3y agoDear reader, unless you are the idea of masculinity itself, we're talking about two different things. Capitalism can be in crisis without all capitalists being in crisis.
- metadat 3y agoLayoffs are still rampant... Edit: rajut, 100% spot on. If not tech, then what industry is better in the long-term?
- anonreeeeplor 3y agoThis is not a good article. The smartest people I know are saying that the FOMC decided to pause and that means the recession is locked in. When they are done hiking it means they will next slowly start to unwind. Or rapidly unwind and start printing again if things really start to fail.
- Racing0461 3y agowasn't worried about the recession so far. now i'm scared.
- hnav 3y agothe lady doth protest too much
- friend_and_foe 3y agoWhy is it when we talk about the economy we always talk about investors? The economy is about resource distribution. The whole point of this thing is to find optimal distribution of resources. By that metric the thing is currently pretty unhealthy. An investment is supposed to be a way to allocate capital that serves the needs of someone so that they pay you for it. The "serves the needs of someone" part seems to be entirely overlooked as of late, and the goal now seems to be to monetize everything to beat monetary inflation, it seems to me the entire economy has devolved into a greater fool game. People can't afford to live in homes. Take a moment to imagine how absurd such a statement is, but that's the world we live in. A combination of construction costs, restrictions on use and building, mortgage rates and municipal property taxes are making houses unaffordable, but someone out there is willing to buy them up and leave them empty. I'd argue that the fact that the economy doesn't work for about half of all it's participants is a key indicator that the economy is doing very badly. This cannot continue, and we can keep massaging things to make numbers look good, talking about how well the balance sheets of corporations are looking, the reality out here in the real world is that nobody can afford anything and there's no way to get ahead anymore while maintaining your integrity. Something's going to give eventually.
- pipes 3y agoBecause the article is by Fidelity, this is advertising for customers.
- powerapple 3y agoPeople would stop working if you don't hand them some paper. But once you hand them some paper, they will start to produce something, the product move to next person, and you take some percentages out of every single one, everyone is happy, everyone has what they want. It is fascinating.
- ljsocal 3y agoThe only interesting thing here is that even after multiple millennia of evidence that predicting the future is not possible, humans still want to predict or buy predictions.