It would seem that if you have to start redefining what a recession actually is you’re in trouble.
So what do you say?
There is no recession until the soup lines circle the block and the government just declared soup lines are unlawful assemblies.
I’m not a financial guy, but we certainly are getting hit by inflation, the stock market was in freefall since January (starting to claw its way back?), the majority of items we buy is transported around the country by trucks burning fuel selling for record prices, and we haven’t even felt the effects of all the late summer/early fall grain, soybean, and cotton harvests by farmers paying record fuel and labor prices.
This could be our winter of discontent…
Andy
If it weren’t for EBT cards, there would definitely be food lines.
When you can redefine the word ‘is’ means or what a man or a woman is- changing the meaning of recession is small thing.
The funny thing is that by denying a recession, they lose political points with people that are hurting financially right now. They are forgetting the first rule of politics, don’t let a crisis go to waste. Use the recession as a casus belli for what you want.
Having witnessed the market in freefall twice, what we’ve been experiencing is not freefall.
Will have days with mid single digit losses, then a couple of days of 1 and 2% clawback and then one and 2% drop but then over a period of time it works itself almost back up to where it was.
Free Fall is just steady decreases with no signs of support or even slowing.
Is the market down? Yes, relative to its peak. Is the market volatile? Yes, it’s very jittery which it tends to be when it’s over invested.
As to recession, it’s pretty clear to me if we’re not in one we are very close to it. And the actual word recession matters less than inflation and interest rates.
I began my adult life in the worst of stagflation. Mortgage rates were 15% and above and we’re very difficult to get. Wage growth was viewed negatively and so salaries were flat.
I have 100% confidence in this administration’s capability to screw things up even worse than they are now. But while things are down, it’s certainly not the worst I’ve seen as an adult.
Interesting that all of these things seem to be hitting us at the same time isn’t it?
If we are technically in a recession, why is the Fed saying “No” this isn’t a recession?
We are watching a potential world wide food shortage
while we also see protesting Farmers who want to produce food being shot at by the LEO’s inside their Country.
We’ve got an inability/backlog of ships to be off loaded and those goods moved to market while the Governor of California limits who can move those goods out of port.
Very interesting indeed
You are in a recession, en route to a depression.
Offshoring and open borders have cratered wages. That isn’t going to change. The factories are in Asia, now, and US manufacturing is largely no more. The industrial base itself was sold off for scrap or shipped abroad. Cheap energy is a thing of the past. US workers cannot compete with foreign workers because foreign workers are treated as near-slaves, and paid a pittance while working days and hours that the majority of Americans little dream of. Add in knowledge loss and a garbage education system, and the US falls even further behind the curve.
The United States is collapsing, by design. The sooner people face these hard facts the sooner they can adjust to the harsh future that is ahead.
So then you believe it’s a controlled demolition of our economy and ability to feed ourselves?
It appears that way, yes, but I would venture to guess that some people here would tell you that it’s God’s Judgment, while others would assert that it’s an intersection of stupidity and psychopathy among those in high authority.
But regardless, the US can’t be turned around in our lifetimes. The prosperous and relatively safe life we enjoyed 25, 30, 50, 70 years ago was a fleeting moment in our history (in world history), never to be repeated.
It gives me no joy to say so, but there it is.
I remember when the media was continually asking Bush “Will you now admit that we’re in a recession” before half the reporting period was even up.
Now they’ll wait 6-8 months to call recession in order to protect their hero.
I’m beyond asking the Media to be fair and impartial.
They’ve cast their lot with the Democrats some time
ago and I believe they will suffer the same eventual consequences. Look how the Cuomo brothers ended up.
I’m concerned that we’ve got an awful lot of moving pieces going on and No Leadership.
Biden refuses to allow us to be energy independent.
We’ve got little or no idea how this year’s harvest might work out with fuel prices and at the same time no one seems to be untangling the mess that is our supply chain.
While I know such matters might take a single dedicated Administration a single year to fix, no one wants to point out that the POTUS and Democrats are clearly tearing things down rather than building them up.
I’m beyond asking the Media to be fair and impartial.
They’ve cast their lot with the Democrats some time
ago and I believe they will suffer the same eventual consequences. Look how the Cuomo brothers ended up.
I’m concerned that we’ve got an awful lot of moving pieces going on and No Leadership.
Biden refuses to allow us to be energy independent.
We’ve got little or no idea how this year’s harvest might work out with fuel prices and at the same time no one seems to be untangling the mess that is our supply chain.
While I know such matters might take a single dedicated Administration a single year to fix, no one wants to point out that the POTUS and Democrats are clearly tearing things down rather than building them up.
We are coming out of the country basically being all but closed for business.
Then you combine that with most of the boomers into retirement or going there shortly, we were in for some rough times.
But then the Marxist thought they would poor gas on the small little fire that was starting to burn in the economy. So they dumped what was it 4T into the economy, creating inflation.
I wrote my Masters Thesis on Revolution and terror and effective ways to counter it. Before anyone asks can they read it, the answer is no for 2 reasons, first the military part of my education board classified it and second it isn’t in English.
The bottom line is that there has never been a successful Marxist Revolution without first destroying the middle class.
I just keep coming back to the simplest of questions such as “could anyone, much less a group of people running a country, be so stupid as to think that the policies they’re pushing would actually be good for the economy, the border, the education system, the stock market, travel, etc.?” The answer is really, “no.” So the only other choice is that it’s on purpose. I agree it’s important for more people to understand that to them, we the common folk, the conservative common folk are the enemy and they clearly have no problem treating us as such. See those involved in Jan 6 vs the BLM rioters; see the political arrests made, if any, on their side vs the team of assaulters that showed to arrest Roger Stone; and more to those of us here, look at how they couldn’t even speak about the kid who stopped the Indiana mall shooter without expressing disdain. By the definition used forever, we’re in a recession; and it isn’t an accident. Fuel pricing, food shortages, forgetting how to transport goods all of a sudden. Just keeps getting worse.
This is a pretty unique time. I think the economy is in a mess whether it meets the traditional definition of a recession. It is weird to be in a recession in a country with a huge labor shortage—but then again we just finished watching the current president and his predecessor, and their enablers in congress, go on a money printing binge the likes of which the world has never seen. Combine that with the weird shutdowns in this country and in others and you just have a recipe for weird. If I had to bet money they will minimize everything until they get through midterms and then suddenly everyone will start noticing we are obviously in a recession.
Its a wierd situation.
Everyone is trying to hire, and food pantries are running low.
Correct. You cannot “build back better” without first tearing it all down. This is all by design and it is worldwide. They will create enough fear and desperation to the masses with the economy that most people will welcome the world digital dollar with the promise of a return to some kind of normalcy. That is when we are really screwed.
By the definition of those who do it for a living and defined the term, yes. According to the current admin, no. Tough choice as to which to believe…
My 401k and 457 have gone down 19% since January. I don’t think that is because if Putins price hike or whatever nonsense this admin puts out.
If you believe a damn thing that comes out of the mouths of Marxist, then that is your issue not theirs. Will I am not picking on you, but the world has gone insane. I never thought I would live through a Marxist revolution in the USA, but here I am.