Kiyosaki: Biggest crash in world history coming in October

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Well, you certainly match his definition of monetary illiteracy, if you don’t already know that the stock market is grossly overvalued due to artificially low interest rates for 20 years- and especially since 2011.

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Tell Karen that is kinda funny :+1:

lolcow’s don’t do it for the money… :cow2:

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Philadelphia Fed manufacturing index surges past predictions, hits highest level since April

The Federal Reserve Bank of Philadelphia reported Thursday that manufacturing activity in the region has hit a seven-month high, soaring past market forecasts.

The Philadelphia Fed’s manufacturing activity diffusion index reached 39 as of Nov. 18, according to November’s Manufacturing Business Outlook Survey, compared to 23.8 in October. That number is the highest since April and has only been reached two other times since 2008. It also beat expert predictions, as MarketWatch’s median forecast for manufacturing index in Philadelphia was 23.

The manufacturing index calculates the change in manufacturing activity based on a survey of firms in the area. It includes current indicators including general activity, shipments, new orders, employment and prices, giving the Philadelphia Fed a fairly comprehensive view of the current state of the economy. The index calculates the difference between companies that report an increase in the given indicators and those that report a decrease.

Of the companies surveyed, 42% reported an increase in general activity this month with only 3% seeing a decrease, compared to 40% and 17% in October.

Everything I own is worth more today a bull market for all participants… Thank you Joe Biden. :santa:

Another leftist trying to convince us inflation is a good thing.

Inflation is not a good thing for the lower and middle class and people on fixed incomes. The left enjoys this, they want us to have less and consume less and be happy (like their socialist European heroes).

Consequences of flooding an economy with freshly printed government money that was not earned.

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Only a dishonest right-wing douchebag like yourself would pretend to convince us that deflation produces prosperity… Moron.

Deflation expectations make consumers wait for future lower prices. That reduces demand and slows growth. Deflation is worse than inflation because interest rates can only be lowered to zero.

I never said that. Some inflation is normal, usually between 1 and 2 percent. In order to maintain a healthy inflation rate, we have to remove excess printed (devalued) dollars from the economy. Raising interest rates is one way (and typically the only way) the Feds can accomplish this.

Otherwise the lower classes, middle class and fixed income recipients will be harmed. Bad economic policy always hurts the people at the bottom.

So, keep telling those at the bottom that they are happy about increases in their everyday living expenses. I am sure they will believe you and vote for more.

Stocks rose on Monday after President Joe Biden picked Jerome Powell to continue to lead the Federal Reserve over Fed Governor Lael Brainard. The move assuaged investors worried about switching central bank chiefs while the country’s economy is trying to emerge from the Covid pandemic and battle inflation levels not seen in three decades.

The Dow Jones Industrial Average rose nearly 300 points. The S&P 500 and the Nasdaq composite rose about 0.9% each, with both hitting intraday all-time highs.

Thank you President Biden.

I agree, he has been chairman since 2018…thanks for not F***ing this one up.