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Do Your Own Research: The Economy

Posted by freedomforall 1 week, 2 days ago to Economics
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Excerpt:
"Nearly two decades ago, when charged to cover an apparent Depression-level event in the 2008 crash, I was stunned to discover how few resources were available to ordinary people hoping to make sense of the economy. The financial press was written by and for financial professionals, and every time I thought I’d found an analyst who made sense, I’d discover shortly after he or she was funded by banks or hedge funds incentivized to put lipsticks on pigs.

It also turned out that most of the statistics politicians used to represent the relative fitness or unfitness of the economy were and are weighted at best, and outright bull at worst, from the Consumer Price Index to the Unemployment Rate. Even LIBOR, the interbank lending rate that supposedly represented how finance companies thought about the economy, turned out to be a monstrous scam.
...
We’re again in panic mode, with front page charts full of down-pointing arrows, and the word “plummets” suddenly a ubiquitous headline term. However you feel about the new “reciprocal tariffs” program, we’re again entering a time in which most news consumers will need to know where to search for de-politicized answers to economic questions. I polled finance professionals, contributors like Eric Salzman, and reporters who cover economics to ask which sources are most accessible. Then I spoke at length with fellow Substacker Chris Irons of Quoth the Raven about the broader problems with finding reliable economic info, and some sites that short-cut the obstacles."
SOURCE URL: https://www.racket.news/p/do-your-own-research-the-economy?publication_id=1042&post_id=160780222&isFreemail=true&r=18b2ic&triedRedirect=true


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  • Posted by $ jbrenner 1 week, 1 day ago
    Trump is a disturbance to the status quo. Investment allocations have changed some, but not much, since he took office ... until this past week. There will certainly be some shakeup while we remove the looters and moochers from our investment portfolios. I don't like tariffs in general, but it is necessary to get rid of the grasshoppers and locusts once in a while.
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  • Posted by mccannon01 1 week, 1 day ago
    I haven't had time to read the whole article and have to get back to it later. IMHO, a big financial lie is the "Dow Jones Industrial Average" or as quoted in the press "The Dow". It isn't as indicative of industry or the American economy as the media et al would have you believe. There's an awful lot of banks and financial representation in the "industrial" average. This means the Trump plan can cause growth in industrial America and you may never see it in "The Dow" until the banksters et al get their cut.
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    • Posted by 1 week, 1 day ago
      I must add that the DowJones Company replaces any stock in the "DOW30" that is going down
      with a stock that is going up, so by definition over time it always goes up - unless there is a
      massive depression that drives all stocks down.
      Agree that the "Industrials" is not an accurate description at all.
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  • Posted by $ Thoritsu 1 week ago
    Personally, I think Trump is “poking” the world economy to 1) precipitate responses, and measure various ones, and 2) to draw attention to the ridiculous, protectionist crap we have tolerated for decades!
    Canada has 100% offset requirements for military work. 100%!!!!! You have to show you are supporting Canadian workers and products valued at the same price as your offering. Forcing a complete trade balance for these products. We would have to buy a million gallons of maple syrup to sell our motors to them for the Navy. This crap is unfair, protectionist, unethical and ridiculous! We have been subsidizing their socialist bullshit since WWII. The idiot Europeans who know this are terrified. The rest just have TDS. Screw them all!!!
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  • Posted by $ allosaur 1 week ago
    Being treated for an ongoing medical problem, I was told that my blood pressure was a bit high while I was forced to attend to something we all have to do this time of year.
    Having mailed off my tax returns, my blood pressure since has been just fine.
    As for things Trump has the guts to do with fixing tariffs and our economy , me dino me am adopting the Alfred E. Neuman approach. I just turned 78, I'm told I'm healing and me no need no more stress.
    If any of you actually need to look up Alfred, at least his view of Schiff is quick and easy to research.
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  • Posted by CaptainKirk 1 week ago
    Okay, I love explaining to the people that the top 1% own 90% of the stocks. So a BAD DAY on the market is absorbed MOSTLY by the VERY WEALTHY.

    Prices in the stores reflect what's affecting mainstreet, including Gas and houses, and interest rates.

    It's amazing how many people are worried about a 401(k) they are 10 years from collecting on. It's crazy. Things should NOT ONLY GO UP. That's a sign of a RIGGED market.

    I will gladly give up some of my market value to have MORE of what TRUMP and his team are doing. If push comes to shove, I can survive on one meal a day, for a VERY LONG TIME.

    That's a modest price to pay for the Survival of the best our country has to offer. As opposed to what it has been offering during my lifetime...
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  • Posted by $ Abaco 5 days, 12 hours ago
    The inflation graph is interesting. It went really high and prices are still high...just not inflating at the previously high rates. Ugh...
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