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According to independent sources, not tied into local politics, this administration will have great depression surpassing fallout by fall. With the other option, it was supposed to be a 2 year controlled slide down.
Either one was not capable of preventing objective global trend. Does not really matter, it's just difference between chopping block and slow crash with air bags deployed. Result is same. Total wreck.
According to independent sources, not tied into local politics, this administration will have great depression surpassing fallout by fall. With the other option, it was supposed to be a 2 year controlled slide down.
Either one was not capable of preventing objective global trend. Does not really matter, it's just difference between chopping block and slow crash with air bags deployed. Result is same. Total wreck.
I figured Joe's policies would put us in a recession, but figured it would take a year for the Democrats to destroy 4 years of progress and prosperity. Biden takes office with a stock market at a record high-in spite of a worldwide pandemic. He took power when there is not just one Covid vaccine rolled out (due to Trump)-but 3. All he has to do is not F up distribution and it's over. Unemployment on Trump's last day in office, again in the midst of a pandemic, was lower than at any time in Obama's entire first term in office (and only slightly higher than his best day of his 2nd term).
But, frankly, I didn't expect Joe to ignore congress and rule by Executive Order. He killed 10s of thousands of jobs in his first day in office, and in the following days has just doubled-down on stupid. I think I was wrong-I gave him a year to put us in a recession, now I'm thinking it might happen in his first month! Anyone taking any bets? I'm really regretting not shifting a lot of my retirement out of stocks and into cash or gold to survive this. Might still be time to cut the losses and do so today.
In 2020, the economy shrank by 3.5%; the worst since WW2. That was under Trump who failed to let the American people know the danger of the pandemic and left it to each governor to come up with their own plan. The result was chaos.
This could have been foreseen. GOP presidents squander the economies left to them by democrats. When Clinton left office, he left Bush II a booming economy, one that Bush II left in tatters. When Obama left office, the economy had recovered. Trump rode the coattails of the Obama economy and left it in tatters...one in seven Americans now faces hunger.
We may or may not have a recession under Biden, but all in all, the democrats handle economic crisis better.
Note on EO's. They don't overrule Congress or the courts, just exercise the authority given. An American president doesn't rule, but governs. That distinction was lost on Trump who never grasped the concept.
Trump has already destroyed the economy and this is far worse than a recession. Great Depression 2.0 began last March.
There's no way out of a lost decade for the economy at this point. Soon the Dow will be under 10,000 (where it will reflect the pain currently being felt on Main St). Job losses under Trump were 4x worse than the 2008-2012 recession.
What do you expect? The economy is like an ocean liner. It takes time to change course and a change in policy usually takes 2-4 years before it starts to show itself. Also, the bigger the crash, the longer the recovery.
It took 7 years for Obama to fix Bush's economic mess, and Trump's depression is at least 4x worse than that was.
Taxes are going to go way up so it will not be long..Socialists have to spend our paychecks for us.. that is how socialism works.
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