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For all the delusional people that get their news from MSM, our economy was already in shambles in 2019 (arguably, it never recovered from 2008).
GDP was flatlining, on the precipice of declining
Stocks were rising due to stock buybacks being financed by low interest rate loans
Same for real estate prices, inflated by artificially low rates
There were liquidity issues bubbling in the repo markets
Yield curve inverted early last year
National deficit was increasing, which should not be happening during times of economic prosperity
Auto sales declining, PMI, commodity prices, consumer sentiment were all declining
Low unemployment numbers were not accurately accounting for the underemployed and those who stopped looking. We have a larger gig and part time economy now so hours worked, which is what matters, were lower. Trump called the job numbers fake when he was campaigning for president and they are just as fake now that he is in office.
perhaps for the 10%, the economy was doing great. for everyone else that could barely come up with $500 for an emergency, not so much.
Not being able to come up with $500 for an emergency car bill is a reflection of the person, specifically the person’s spending habits, not the economy.
No shortage of the general public chooses to live beyond their means and tends to do so despite the economy.
Most people continued to be employed and kept ther homes during the Great Recession. Some people managed to do very well in that economy, no diff than the current economy.
The thing is if the masses were to suddenly chose to live within their means, it would devastate the economy.
If a POTUS, any POTUS, controlled the economy, there would never be a recession.
Presidents love to take credit for the good times indicators and blame when those indicators go sideways.
Not being able to come up with $500 for an emergency car bill is a reflection of the person, specifically the person’s spending habits, not the economy.
No shortage of the general public chooses to live beyond their means and tends to do so despite the economy.
Most people continued to be employed and kept ther homes during the Great Recession. Some people managed to do very well in that economy, no diff than the current economy.
The thing is if the masses were to suddenly chose to live within their means, it would devastate the economy.
If a POTUS, any POTUS, controlled the economy, there would never be a recession.
Presidents love to take credit for the good times indicators and blame when those indicators go sideways.
when enough people are not able to come up with $500 for an emergency, the impact on the economy won't be limited to that individual.
it means rents missed and tenants evicted, houses foreclosed on, car's repo'd, jobs lost. there are major downstream affects.
and that is a very judgmental assumption to make, that it is solely attributed to ones spending habits, rather than him/her barely earning enough to make ends meet.
regardless, that's only one of the indicators. there were plenty more that foretold a not-so-rosy economy.
For all the delusional people that get their news from MSM, our economy was already in shambles in 2019 (arguably, it never recovered from 2008).
GDP was flatlining, on the precipice of declining
Stocks were rising due to stock buybacks being financed by low interest rate loans
Same for real estate prices, inflated by artificially low rates
There were liquidity issues bubbling in the repo markets
Yield curve inverted early last year
National deficit was increasing, which should not be happening during times of economic prosperity
Auto sales declining, PMI, commodity prices, consumer sentiment were all declining
Low unemployment numbers were not accurately accounting for the underemployed and those who stopped looking. We have a larger gig and part time economy now so hours worked, which is what matters, were lower. Trump called the job numbers fake when he was campaigning for president and they are just as fake now that he is in office.
perhaps for the 10%, the economy was doing great. for everyone else that could barely come up with $500 for an emergency, not so much.
For all the delusional people that get their news from MSM, our economy was already in shambles in 2019 (arguably, it never recovered from 2008).
GDP was flatlining, on the precipice of declining
Stocks were rising due to stock buybacks being financed by low interest rate loans
Same for real estate prices, inflated by artificially low rates
There were liquidity issues bubbling in the repo markets
Yield curve inverted early last year
National deficit was increasing, which should not be happening during times of economic prosperity
Auto sales declining, PMI, commodity prices, consumer sentiment were all declining
Low unemployment numbers were not accurately accounting for the underemployed and those who stopped looking. We have a larger gig and part time economy now so hours worked, which is what matters, were lower. Trump called the job numbers fake when he was campaigning for president and they are just as fake now that he is in office.
perhaps for the 10%, the economy was doing great. for everyone else that could barely come up with $500 for an emergency, not so much.
The economy indeed was in trouble before the pandemic.
That's why the Feds did an about face and started to lower the interest rate. Powell basically said he saw bad signs that indicate bad things ahead.
For all the delusional people that get their news from MSM, our economy was already in shambles in 2019 (arguably, it never recovered from 2008).
GDP was flatlining, on the precipice of declining
Stocks were rising due to stock buybacks being financed by low interest rate loans
Same for real estate prices, inflated by artificially low rates
There were liquidity issues bubbling in the repo markets
Yield curve inverted early last year
National deficit was increasing, which should not be happening during times of economic prosperity
Auto sales declining, PMI, commodity prices, consumer sentiment were all declining
Low unemployment numbers were not accurately accounting for the underemployed and those who stopped looking. We have a larger gig and part time economy now so hours worked, which is what matters, were lower. Trump called the job numbers fake when he was campaigning for president and they are just as fake now that he is in office.
perhaps for the 10%, the economy was doing great. for everyone else that could barely come up with $500 for an emergency, not so much.
You REALLY need to expand your sources for you data, which you gave ZERO sites for ypur sources.
You REALLY need to expand your sources for you data, which you gave ZERO sites for ypur sources.
Why do you suppose those miles long food lines formed so quickly throughout the country, I thought this was a great economy that raised everyone up. Greatest economy in 80 years and people went hungry weeks into the shutdown.
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