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Off-Topic Stock Market & Crypto Discussion

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The economy is still growing but at a slower pace. Let’s inject some juice into it.

Revolving credit helped the middle class, but was meant for the short term.
Credit card companies seem to charge whatever the market will bear.
 
mr.h said:
The economy is still growing but at a slower pace. Let’s inject some juice into it.

Revolving credit helped the middle class, but was meant for the short term.
Credit card companies seem to charge whatever the market will bear.
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Pretty sure that is not how that works.
 
90scane said:
Do you see the economy being much stronger thus not needing the .25 or just wanting them to be more conservative to prevent Stagflation?
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From what business people are telling me, the economy is weakening dramatically, but their costs arent.
 
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mr.h said:
AI…
There is no limit on card interest rates - Usury refers to lending at a rate of interest that is so high as to be unreasonable.Aug 2, 2024

Can this be?…..
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I meant more if you have rising defaults and people not paying off their bills, is the market bearing it? Also you are overlooking state caps if you want to go down that angle.
 
WASHINGTON (Reuters) - U.S. retail sales unexpectedly rose in August as a decline in receipts at auto dealerships was more than offset by strength in online purchases, suggesting that the economy remained on solid footing through much of the third quarter.

The report from the Commerce Department on Tuesday also showed retail sales were a bit stronger than initially thought in July. It combined with the decline in the unemployment rate last month to push against financial market expectations for a half-percentage-point interest rate cut from the Federal Reserve on Wednesday. U.S. central bank officials started a two-day policy meeting on Tuesday.

The Atlanta Fed raised its third-quarter GDP growth estimate to a 3.0% annualized rate from a 2.5% pace after the data. The economy grew at a 3.0% pace in the second quarter.
 
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mr.h said:
WhoaFed interest rate cuts….50 bp

14:00 USD Fed Interest Rate Decision 5.00% 5.25% 5.50%
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Jim Carrey Reaction GIF by MOODMAN
 
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SpikeUM said:
If you really think about it, if the economy is doing so well, why cut at all or just cut 25 bp's. For them to cut 50, and disclose that multiple members discussed 75, tells you they are very worried.
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Especially when they could have done 25 this month, next, and so on.
 
JD08 said:
Especially when they could have done 25 this month, next, and so on.
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They missed July and discussed 25.
They have November and December meetings. Unless they do an emergency cut, we shouldn’t expect another until November and I’ll go ahead and expect another 50 with December being 25-50
 
90scane said:
They missed July and discussed 25.
They have November and December meetings. Unless they do an emergency cut, we shouldn’t expect another until November and I’ll go ahead and expect another 50 with December being 25-50
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That's a lot and means things are looking really bad.
 
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