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What is coming is huge, great depression huge, not a recession. To answer your question, no, we have not started it. A lot of people were calling for it back in August, and they are calling for it again with recent market volatility. Since August, they pumped the market right back up, and they can do it again this time too. The reason is nothing has "broke." Something needs to break as in a large bank going down, and then you need 2 negative quarters of gdp before the next "recession" can officially be called.
Look at the commodity chart. It has totally collapsed. It is causing massive destruction and upheavals everywhere in the world. It is the reason the Fed has to start raising rates and why Abe and Draghi can't print any more money for their stock market levitation tricks. It is a catastrophe of incredible proportions. It will be hitting out economy and bond markets very soon. Of course Alcoa's numbers are just the beginning. All a result of the Fed free money policy which totally distorted allocation of capital.
I also noticed that Jerry Brown has implemented budgetary changes for California for a possible coming recession.
This guy may be the best example of a fiscally conservative democrat... and I think others politicians should take note.
Who would have thought that California of all places would be more financially prepared than most states?
I agree that Brown is a fiscally conservative Democrat. But to say California is more financially prepared than most states is a major stretch. While recently upgraded, California is still in the bottom 10 states for its bond rating. And that link you provided has a paywall. Annoying!
People have been preaching gloom, doom, and collapse for all my adult life and long before it. Every single day. In good times and in bad. It's as consistent as the sun rising.
Even when the doomers were "right" in 2008... in the long run it hasn't mattered in the slightest for my investments. My 401k is worth multiple times its 2007 highs.
But I know several people who have lost a ridiculous amount of money and basically ruined their retirement funds by pulling their money out of the market and going with cash, money market, gold, and bonds on the advice of the doomers.
People have been preaching gloom, doom, and collapse for all my adult life and long before it. Every single day. In good times and in bad. It's as consistent as the sun rising.
Even when the doomers were "right" in 2008... in the long run it hasn't mattered in the slightest for my investments. My 401k is worth multiple times its 2007 highs.
But I know several people who have lost a ridiculous amount of money and basically ruined their retirement funds by pulling their money out of the market and going with cash, money market, gold, and bonds on the advice of the doomers.
But I'm sure it's different this time
Lol. No. It will be exactly the same. Just remember your little post.
I once heard a poker player say sooner or later every gambler goes bust. Your little stash was saved twice by the Fed at the cost to 10s of millions of others. You figure they'll save it again? You figure they can save you again? Place your bets.
Lol. No. It will be exactly the same. Just remember your little post.
I once heard a poker player say sooner or later every gambler goes bust. Your little stash was saved twice by the Fed at the cost to 10s of millions of others. You figure they'll save it again? You figure they can save you again? Place your bets.
We just came through the worst economic downturn since the Great Depression, and those of us who stayed in the market came out smelling like a rose.
I know gloom and doomers who got out of the market in 2009 and 2010 and bought gold. We all know how that worked out.
Even through the Great Depression, losses in the stock market weren't permanent for those who were diversified and who stayed in. If you're predicting something worse than that, then you'd better be stocking up on food and ammo, Nostradamus.
We just came through the worst economic downturn since the Great Depression, and those of us who stayed in the market came out smelling like a rose.
I know gloom and doomers who got out of the market in 2009 and 2010 and bought gold. We all know how that worked out.
Even through the Great Depression, losses in the stock market weren't permanent for those who were diversified and who stayed in. If you're predicting something worse than that, then you'd better be stocking up on food and ammo, Nostradamus.
I also like all these gloom and doom either, it will hurt a lot of people, even those that don't invest in the stock market. But face it, we had almost 6-7 years of positive return, so it's natural for a 20% down, and it still in the secular bull market.
Gold did go up but you must sell a few years ago. I sold all of my gold jewelry at the peak. Since then I have not kept up with gold price.
Yeah, those gains don't accomplish anything for people unwillingnto sell high. I have a couple of doomers in my family- one of whom made a great call and bought gold for under $300 an ounce back in the 90's. When it hit $1500 an ounce, I tried to get him to sell. He wouldn't consider it. Still has all of it as far as I know.
Yeah, those gains don't accomplish anything for people unwillingnto sell high. I have a couple of doomers in my family- one of whom made a great call and bought gold for under $300 an ounce back in the 90's. When it hit $1500 an ounce, I tried to get him to sell. He wouldn't consider it. Still has all of it as far as I know.
I did read on the net about buying gold at the time, I thought the guy was extreme, but I didn't do anything. BTW, my gold jewelry sold for $200. It's a good way to get pocket money on things you don't like anymore.
It may be a recession in the oil patch by now. The other states are entering a boom phase.
This. Employers around here (southwestern New York State) have more openings than qualified applicants, even for burger flipper jobs. In general terms, low oil prices help the economy because lower energy prices free up more disposable income, although people in that industry suffer.
However, any of the resource extraction industries like oil, coal, natural gas, etc tend to be very much boom-and-bust industries. Right now, they're all on a downturn price-wise because of over-supply, at least some of which is attributable to more efficient energy usage.
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