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Old 03-18-2023, 04:37 PM
 
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as we know , those who didn’t do well financially since 2008 will claim the economy and recovery was a hoax .

but my balance says other wise as does many of us here who did well since 2008
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Old 03-18-2023, 06:09 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,691 posts, read 58,004,579 times
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Quote:
Originally Posted by mathjak107 View Post
as we know , those who didn’t do well financially since 2008 will claim the economy and recovery was a hoax .

but my balance says other wise as does many of us here who did well since 2008
I have some friends who left the market in 1987, never to return.

They live on 'passbook returns', basically stashing their cash under their bed.

So... They have what they had in 1987 dollars, ... about $0.38 worth of value today for those 1987
buried dollars. (for what they haven't already spent)

The inflation rate in the United States between 1987 and today has been 165.42%, which translates into a total increase of $165.42. This means that 100 dollars in 1987 are equivalent to 265.42 dollars in 2023. In other words, the purchasing power of $100 in 1987 equals $265.42 today. The average annual inflation rate between these periods has been 2.75%.
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Old 03-18-2023, 06:19 PM
 
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The recession ended but the productivity growth rate took a hit as did the birth rate.
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Old 03-18-2023, 10:54 PM
 
30,894 posts, read 36,941,290 times
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Originally Posted by Bubble99 View Post
I was reading that we never got out of the 2008 recession that all they did was print money, quantitative easing and pupping up markets.

But well this is only coming from non mainstream economic people and the mass media and the government is not talking about this.

Is it true that we never got out of the 2008 recession and the problems we are having today is because of that?
I would say yes.

The government and mainstream media are never going to say we never fully recovered from 2008.

But all you have to do is look at how much money the Federal Reserve printed and how our debt as a percentage of GDP had skyrocketed (even before Covid).

I remember when the mainstream media used to talk about the deficit and wasteful government spending all the time back in the 80s and 90s. Money printing wasn't even a thing. Now they're like "oh, yeah there's unprecedented money printing" in passing like it's no big deal. The deficit and wasteful government spending practically never get mentioned.

America and the Western World and Japan are acting like the Roman Empire before it collapsed. Always pushing off the hard decisions. Always trying to cover up things with debt and money printing. It has never ended well and it won't this time, either.

But don't expect the media to tell you this. They won't until after the crisis has already happened.
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Old 03-18-2023, 10:59 PM
 
30,894 posts, read 36,941,290 times
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Originally Posted by mathjak107 View Post
as we know , those who didn’t do well financially since 2008 will claim the economy and recovery was a hoax .

but my balance says other wise as does many of us here who did well since 2008
My balance sheet certainly has gone up substantially since 2008.

I still think the economic growth we've had is all or mostly a hoax.

Sure, the GDP grew, mostly because of debt and money printing, which is not sustainable in the long run. No one knows where the tipping point will be until after it is reached.
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Old 03-18-2023, 11:10 PM
 
1,230 posts, read 988,568 times
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Quote:
Originally Posted by mathjak107 View Post
as we know , those who didn’t do well financially since 2008 will claim the economy and recovery was a hoax .

but my balance says other wise as does many of us here who did well since 2008
Not sure what you mean are you saying the government are not pumping up the market?
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Old 03-18-2023, 11:26 PM
 
19,778 posts, read 18,060,308 times
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Originally Posted by ddeemo View Post
A recession is generally defined as a fall in GDP - between 2009 and 2019 GDP rose at a pretty steady 2-3% until COVID in 2020. GDP went from $14.4T in 2009 to $25.5T in 2022 - 77% increase. The S&P increased an average of 14% a year during the same period - some 533% increase. That doesn't sound like much of a recession

It would be a lie on your part to say we never got out of the 2008 recession.
Bravo.
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Old 03-18-2023, 11:27 PM
 
19,778 posts, read 18,060,308 times
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Originally Posted by mathjak107 View Post
as we know , those who didn’t do well financially since 2008 will claim the economy and recovery was a hoax .

but my balance says other wise as does many of us here who did well since 2008
All of that too.
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Old 03-18-2023, 11:29 PM
 
19,778 posts, read 18,060,308 times
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Quote:
Originally Posted by StealthRabbit View Post
I have some friends who left the market in 1987, never to return.

They live on 'passbook returns', basically stashing their cash under their bed.

So... They have what they had in 1987 dollars, ... about $0.38 worth of value today for those 1987
buried dollars. (for what they haven't already spent)

The inflation rate in the United States between 1987 and today has been 165.42%, which translates into a total increase of $165.42. This means that 100 dollars in 1987 are equivalent to 265.42 dollars in 2023. In other words, the purchasing power of $100 in 1987 equals $265.42 today. The average annual inflation rate between these periods has been 2.75%.
I have a cousin how did almost precisely that. I paid for his kids to go to college because he could not.
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Old 03-18-2023, 11:31 PM
 
19,778 posts, read 18,060,308 times
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Originally Posted by Avondalist View Post
The recession ended but the productivity growth rate took a hit as did the birth rate.
Don't look at the %labor productivity growth per year without looking at the long term trend.
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