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what do you think? I can't imagine all the crap that will soon be sitting on shelves because everyone's money is going to a house, gas, and food
I don't think it's going to be worse but that possibility does exist. I think it's more likely that the FED will be able to steer us through a short recession. The war getting out of control could change the course to a depression.
Why are we in for a depression? Unemployment down below 4%. Stock market is healthy. GDP up 7%. In a depression, prices go down, not up.
I know you repugnicans are desperately hoping for a recession, so you can blame Biden.
while the OP should generally be ignored, she's no Republican. And there doesn't seem to be a real reason that we'd see employment drop 10% (13MM) when there's still millions of unfilled jobs.
Unemployment is down below 4% which is good, as long as you recognize the LFPR is well below 2019 and there's 550,000 fewer full-time workers than before.
The stock market is up 6.7% (Dow) for the last 12 months and 7.8% since Biden became POTUS.
GDP is NOT up 7%. If Q4 was annualized, it would be 7%. For the year 2021, it was up 5.54% coming out of a recession year.
I didn't feel that one at all. I had my own business and did fine. But now? I'm not optimistic.
2008 was mostly behind the scenes. It was credit and liquidity of the banking system. Most people had to be told there was even a problem like when then President Bush had to go on TV and try to calm things down. Sure later on housing prices crashed and jobs dried up.
This all is imploding right in front of us. With the shortages and massive inflation.
2008 was mostly behind the scenes. It was credit and liquidity of the banking system. Most people had to be told there was even a problem like when then President Bush had to go on TV and try to calm things down. Sure later on housing prices crashed and jobs dried up.
This all is imploding right in front of us. With the shortages and massive inflation.
Bush 2's two failed wars cost us big time with record gas prices as well mel.
Our economy is dependent on consumer spending on services.
The consumer is facing extremely high costs for essential items like shelter, food, and energy.
So the amount of money leftover to spend on services is decreasing rapidly. At that point the consumer will take on debt trying to maintain their current quality of life.
That can only go on for so long until everything blows up.
Not taking on debt to eat at Golden Corral or buy a new overpriced Toyota. I cook all our own food. Most either grown, caught or hunted by us. My 1994 Ford 150 4x4 still runs like a champ and I can fix anything on it that breaks. Same with the family vehicles. Even the rust bucket 1985 Subaru still putts along. Made it a point to learn how to correctly use the sewing machine this year. We spend very little on services.
Not taking on debt to eat at Golden Corral or buy a new overpriced Toyota. I cook all our own food. Most either grown, caught or hunted by us. My 1994 Ford 150 4x4 still runs like a champ and I can fix anything on it that breaks. Same with the family vehicles. Even the rust bucket 1985 Subaru still putts along. Made it a point to learn how to correctly use the sewing machine this year. We spend very little on services.
I like your style…….
But unfortunately your spending habits are quite different from a typical American
The only folks who will be in a depression are those on CD writing in Russia. This is an international site.
Depressions happen when spending stops. Russia is running out of spending.
See 2008 when spending came to a halt. Jobs disappeared overnight. Deflation was killing the world's economies.
Right now, business is booming. Spending will pick up as Putin has shown the world that defense from nuts (Like Putin) is still needed.
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