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Old 08-13-2019, 05:16 PM
 
30,358 posts, read 47,645,751 times
Reputation: 16252

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Quote:
Originally Posted by Hoonose View Post
Yes the Fed can go negative. I doubt we'll need or see it.

How are these deficits bad for the lower class? Deficits are one big way they get funded.

SS is a good example of safety and security in a recession. No one lost a dime of benefits with the 2008 crash.

There are less conventional ways to create new central moneys. I doubt we'll need or see it.
Deficits are bad for the “lower class” because their cost of money will go up dramatically more than people with decent credit
People who exist on payday loans
People buying cars by the week and losing them back to the auto finance creeps
Their rent is usually higher
Their salaries are lower
They are the ones caught in the crack

I have noticed several ads on streaming tv platforms like Hulu or CBS All Access for sites that people can draw instant work-day pay from—
Those are aimed at people who live even closer than paycheck to paycheck and I think there are quite a few of those people in the “lower class”
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Old 08-13-2019, 06:07 PM
 
8,985 posts, read 3,999,637 times
Reputation: 1767
Quote:
Originally Posted by loves2read View Post
Deficits are bad for the “lower class” because their cost of money will go up dramatically more than people with decent credit
People who exist on payday loans
People buying cars by the week and losing them back to the auto finance creeps
Their rent is usually higher
Their salaries are lower
They are the ones caught in the crack

I have noticed several ads on streaming tv platforms like Hulu or CBS All Access for sites that people can draw instant work-day pay from—
Those are aimed at people who live even closer than paycheck to paycheck and I think there are quite a few of those people in the “lower class”
Federal deficits don't necessarily cause inflation or increase interest rates.

A good part of Welfare is funded with deficits. Without deficits less welfare would happen as the middle class would be even more strapped with taxes. Welfare would be one of the first programs to go.
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Old 08-14-2019, 07:40 AM
 
30,358 posts, read 47,645,751 times
Reputation: 16252
Not talking about welfare
Talking about the working poor that make too much money to qualify for most welfare programs
These are the people who make up lot of Trump’s base because they are too ignorant to understand why his spiel is non-sensical
Trump’s new comment about “Christmas” and not wanting to ruin Christmas is just so stupid and means that for the past 18 months this admin has just been in a big spin cycle
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Old 08-14-2019, 08:58 AM
 
Location: Tennessee
24,056 posts, read 17,905,479 times
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Quote:
Originally Posted by LordSquidworth View Post
Next one will be a “normal” recession, not 2008.

Spark will probably come from a hard Brexit or Chinese debt issues, which will infect the rest of the world.

trumps trade war is moronic and pointless, will drag on the economy, but won’t make it go into a recession.
Maybe I should take back that "financial contagion" statement...

https://www.marketwatch.com/story/ba...ers-2019-08-14
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Old 08-14-2019, 09:22 AM
 
Location: Northern Wisconsin
8,991 posts, read 7,822,842 times
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It might just be a slow down. A world wide recession, but imho, its largely blamed on demographics. Europe and Japan all have seriously low birth rates. Ours would be too if it wasnt for immigration. As far as I know, you cant have a long term growing economy with a ageing and shrinking population.
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Old 08-14-2019, 09:29 AM
 
Location: Ontario, NY
2,745 posts, read 6,272,166 times
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Quote:
Originally Posted by lieqiang View Post
Why would these indicate a recession is imminent?
There have been other indicators, sales of luxury items such as Boats and RV are down significantly, in the past decreased sales of these products a recession followed within a year or so. The current expansion has lasted too long already, another recession is inevitable, Trump's trade war or not.


Quote:
Originally Posted by bawac34618 View Post
Do you think this will be as bad as 2008? Will it be worse?

This mainly depends on you, I almost doubled my salary during the last recession, I didn't suffer at all until 2013 when I got laid off, well after the recession ended. I bounced back pretty well since then, I make triple of what I used to earn in 2006.
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Old 08-14-2019, 10:04 AM
 
5,407 posts, read 2,876,935 times
Reputation: 9871
inversion inversion inversion

watch out and get liquid quickly!
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Old 08-15-2019, 07:38 AM
 
2,190 posts, read 642,432 times
Reputation: 3084
Quote:
Originally Posted by loves2read View Post
Not talking about welfare
Talking about the working poor that make too much money to qualify for most welfare programs
These are the people who make up lot of Trump’s base because they are too ignorant to understand why his spiel is non-sensical
Trump’s new comment about “Christmas” and not wanting to ruin Christmas is just so stupid and means that for the past 18 months this admin has just been in a big spin cycle
The thing is, they didn't get screwed as much as the middle class by the "tax cuts". SALT exemption limitations wrecked many folks this year and the timing works bad for Trump. He's not getting re-elected by the middle to upper middle class for sure. The challenge is he doesn't need campaign donations as much as the average candidate. This is why GOP has given up this race already. No one can raise enough quickly enough and I guess for whatever reason they could not incentivize any Latinos in the party to stand up over the past 3 years...So it's pretty much a question of whether it's Biden or Sanders.

The Democrats are partially energized by the wave of Progressive Socialists, if they could only appease them and channel that energy properly, they would be far better off. And just to clarify I hate ALL politicians and I support neither party.
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Old 08-15-2019, 09:15 AM
 
Location: Chicago area
8,901 posts, read 13,421,935 times
Reputation: 16147
Time to liquidate your assets, buy some precious metals, stockpile nonperishable food, guns and ammo a bat wrapped in barbed wire, build a fallout shelter.


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Old 08-15-2019, 10:58 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
30,189 posts, read 55,056,423 times
Reputation: 31677
Quote:
Originally Posted by TechGromit View Post
There have been other indicators, sales of luxury items such as Boats and RV are down significantly, in the past decreased sales of these products a recession followed within a year or so. The current expansion has lasted too long already, another recession is inevitable, Trump's trade war or not.





This mainly depends on you, I almost doubled my salary during the last recession, I didn't suffer at all until 2013 when I got laid off, well after the recession ended. I bounced back pretty well since then, I make triple of what I used to earn in 2006.
I don't place as much importance on the slower boat and RV sales, because in 2017 they had record sales. We bought a truck and a 25' trailer in 2017. Naturally there is going to be a downturn after so many bought, and don't need another.



My suffering from the recession was in 2008-09, but like you I'm far better off today than ever before.
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