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I am not one of those "Crash the economy to get rid of Trump" people, I am concern with job loses and significant losses in my retirement. Recessions are opportunity so there are always two sides to a coin.
Agreed. I was lucky enough to work in a virtually recession proof industry in 2008 and I have an interview to get back into the same industry next week. It's much easier to sleep at night knowing your job doesn't flow with the winds of the economy so easily.
I'm too young to worry about my retirement accounts. I have plenty of (too much ) time to work before retiring.
Remember when we were told healthy people don't need insurance?
:-)
For something to happen for the first time in a decade MEANS SOMETHING. It is, as admitted by most all, the result of Trump policies and chaos (trade uncertainties, bluster, etc.) which has caused the markets to sag and the economy to stagnant since he signed "tax reform"....
A vastly increased deficit (DOUBLE or more for the foreseeable future), an even higher trade imbalance with China, no action on health reform or anything else...these are not "great things" for our economy.
Putting it another way you can't expect to put someone completely unqualified into such a position and have things end well. His lifetime ROI was basically zero before Russian money..and even with it vastly underperforms the market or even CD's or T_Bills.
The lack of intelligence, ability or a plan does not make for success in the modern world. The only real question is exactly how and when the walls will come tumbling down....often it happens after the admin is gone.
Obviously they have to make an excuse for doing something which is only done to "save" the economy....and hasn't been done in a decade. "Insurance".....no, this is like cashing in your insurance and then not having it when and if you really need it.
Remember when we were told healthy people don't need insurance?
:-)
For something to happen for the first time in a decade MEANS SOMETHING. It is, as admitted by most all, the result of Trump policies and chaos (trade uncertainties, bluster, etc.) which has caused the markets to sag and the economy to stagnant since he signed "tax reform"....
A vastly increased deficit (DOUBLE or more for the foreseeable future), an even higher trade imbalance with China, no action on health reform or anything else...these are not "great things" for our economy.
Putting it another way you can't expect to put someone completely unqualified into such a position and have things end well. His lifetime ROI was basically zero before Russian money..and even with it vastly underperforms the market or even CD's or T_Bills.
The lack of intelligence, ability or a plan does not make for success in the modern world. The only real question is exactly how and when the walls will come tumbling down....often it happens after the admin is gone.
Obviously they have to make an excuse for doing something which is only done to "save" the economy....and hasn't been done in a decade. "Insurance".....no, this is like cashing in your insurance and then not having it when and if you really need it.
I agree. But in this bizarro world where crazy things continue to happen, who knows who and what will continue to manipulate the markets. You would think we would hit a wall at some point.
11 year expansion without a recession.
Of course there will be a recession; the trick is predicting when it will occur.
Stocks are overvalued about 60%, we have a housing bubble, high personal debt, and very high student loan debt.
I can tell you one thing- raising taxes on individuals and business and increasing regulations (which dems favor) is like spraying Round-Up on business.
Ah, setting us all up for a fall, then telling us that we need more debt and deficit (that's what the last line is) to "save" ourselves, while not noting that his "hot" stock market has returned less than 6% in the last 20 years.
Quite a shell game.
Certainly things are so terrible (for 1/2 or more of Americans) that they don't have as far to fall....whether one can make it through one week or two weeks without a paycheck isn't a big difference.
Real Estate, which many claimed was where a majority of Americans held much of their value, has barely increased in many areas for a decade or more.
Dow under 10,000 and 12% unemployment within two years. The government is out of ammunition thanks to the reckless GOP so get ready for some massive bank failures. Things are about to get very, very nasty in this country as the Obama economy comes to an end.
I literally laughed out loud when I saw this thread title.
OP was one of those "economy is going to collapse, gold is going to $5,000" types then got quiet as gold cratered.
Gold aways craters after panic buying. The gold dealers encourage the panics, because they are when the dealers make their money. They do everything they can to fuel panic; the more panic, the more sales.
The last great gold panic was in 2012. 7 years ago, and the average price of gold has never risen high enough to make a panic buy of 2012 profitable since.
That's always the way it goes with gold. I once used quite a lot of gold leaf in my work, and I always got a terrific deal on the leaf a year or two after a panic passed.
That's because once gold drops its price, there simply isn't enough demand on it as a raw material for the price to rise again very fast. It usually takes many years for the supply to become scarce enough again to bring more money.
The fancy gold stuff- the Krugerrands and other coinage, jewelry, and all the rest, don't ever have such high demand as to rise the prices, and all the added value that makes them cost more than bullion is in the labor, not the gold itself.
The other big problem with gold as an investment is how much gold never leaves the market place. Old gold is cheaper to melt down and recycle than it is to mine new gold, so it's always much more profitable after a panic to go around and buy the panic's gold at low prices and melt it down than to buy new gold freshly mined, refined and offered as bullion.
The old gold's still the same 24 karats it was when it came out of the refinery. It can be re-melted, remade into a new product, used for 100 years, and be re-melted again, and a century later, it will still be the same 24 karats as it was when it was fresh metal.
And when some fool has purchased far more fresh gold than he can afford in a panic, and finds he needs some currency afterwards, he'll take any price he can get to get rid of his bad investment. Currency buys anything and everything. Gold doesn't. It has lost its credit forever. Currency is a much more fluid credit system.
These days, investing heavily in gold is like investing in tulips. Once the fad passes, the buyer is left with something no one wants to mess with.
It's their "insurance policy" against the economy going south because of the trade war and the global economic slowdown. Time will tell if it actually does what it's supposed to do. I don't think we have many bullets left, but who the hell knows.
One of the bullets the President does have left is dropping tarrifs to lower the price of goods, and hopefully the other nations will do the same. That will at least help boost consumer spending in the short run.
The Fed has raised rates FOUR TIMES since Trump has been in office. Many economists thought it was too much too fast. Obama had ZERO interest rates from the FED. and still couldn't get a higher than 1.6% GDP average growth over EIGHT years.
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) time to work before retiring.
