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Old 05-20-2022, 08:21 PM
 
8,289 posts, read 3,769,973 times
Reputation: 5909

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Quote:
Originally Posted by andywire View Post
Well, if Trump timed all those problem to hit the moment Biden stepped into office, he is a fricken political genius, so we better hope he backs the MAGA train back up so we can all hitch a ride in 2024. This current administration is many times worse than anything we saw during Trump's time. The only thing that comes close is the Chicom bioweapon that you all blamed Trump for (shame on you useful idiots). Hard to imagine anyone would even bother putting any effort at all into deflecting from the incompetence of this current administration/abomination. Do they pay you well for this service???
Political genius at a cost for ordinary people. The current administration is only bad because it's completely useless... in either direction. We saw Trump inflate the economy with his handouts and now we're seeing the impact of his lousy leadership. When you blamed Trump for Chicom bioweapons, I didn't agree with you. Not everyone is paid to post like you are.
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Old 05-20-2022, 08:23 PM
 
8,289 posts, read 3,769,973 times
Reputation: 5909
Quote:
Originally Posted by cttransplant85 View Post
If Congress had passed that 5 trillion dollar spending package inflation would be worse. The economy is juiced but productivity isn’t keeping up with demand, if workforce participation isn’t fixed the market will force it to be fixed ie. having to work or work more to maintain your standard of living. There are good things that come out of a recession, like people who were previously priced out of the market can invest with upside, resources get reallocated in a better manner, things really matter stay funded. Inflationary recession is a new one though, they’ve historically been deflationary but there’s too much capital in circulation.
What we're seeing today isn't drastically different from the 70's in terms of inflation and slowdown in productivity. The one major difference is that there's no high unemployment right now... and we actually have quite a cushion for unemployment to playout.
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Old 05-20-2022, 08:37 PM
 
Location: Elsewhere
88,212 posts, read 84,110,758 times
Reputation: 114521
Quote:
Originally Posted by Boss View Post
No you should have been around during the 1970's- 80's.

Today we still are under employed with 10 million open jobs.
Mid-to-late-70s were definitely worse. Getting on a line at 4 a.m. for a gas station that opens at 6 hoping they don't run out before it's your turn comes to mind.
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Old 05-20-2022, 08:56 PM
 
Location: Wisconsin
25,601 posts, read 56,314,292 times
Reputation: 23266
Although not particularly financially devastated at the time, I still haven't recovered from the shell-shock of The Great Recession - when the financial structure worldwide was on the precipice of collapse.

Now, that was a scary time.

Have people here forgotten the massive unemployment, the business closings, the foreclosures and repossessions of that time, the tent cities, people living in their cars? This went on for years.

Have people forgotten the unemployment extensions which continued benefits for close to two years? Extension after extension after extension.

What short memories people have.

Yes, the market collapsed dramatically over a year, but then began a recovery. However, our businesses and unemployment didn't for many years - because capital markets had been decimated.

That was a terrible period, which I remember well because I was very active on the Unemployment Forum for that period, became an expert on the subject, was actually paid for my knowledge, and read the horrific stories daily.

What short memories people have. The current situation isn't even comparable. Closest might be the 1980-82 recession with high oil prices, 16% interest, collapse in real estate values, and no jobs. But that painful period was over quickly.

Many of the inflationary issues now are due to supply chain issues caused by COVID.

What really worries me now is the hateful rhetoric in this country (which we can control if people would think rationally) and worldwide political instabiiity - over most of which we have no control - which will exacerbate the supply chain issues.

The Russian aggression is a variable that could possibly become much worse - spilling into NATO countries.

THAT worries me. There is nothing no administration - GOP or Dem - can do about this short of hiring a hit man.

Last edited by Ariadne22; 05-20-2022 at 09:29 PM..
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Old 05-20-2022, 09:14 PM
 
4,994 posts, read 1,978,476 times
Reputation: 2865
Quote:
Originally Posted by TexasLawyer2000 View Post
No. The massive inflation created by the overspending during the Trump years is impacting prices but we're still in a standard economic cycle. I have no faith in Biden being able to fix it and Congress is unable to pass anything. But we've had worse.



The overspending offsetting the democrats lock downs.
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Old 05-20-2022, 09:15 PM
 
4,994 posts, read 1,978,476 times
Reputation: 2865
Quote:
Originally Posted by TexasLawyer2000 View Post
Covid money is part of the reason we're in this mess. Trump wanted his name all over those checks... well now he's gotten his name on this economy.

That being said, I don't think it's that bad at all compared to previous recessions.

The democrats shut down the economy. Something had to fuel the economy since the democrats would not let people work.
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Old 05-20-2022, 09:16 PM
 
4,560 posts, read 3,378,963 times
Reputation: 2569
No, because 2008 resulted in a period of homelessness for me. I was struggling enough after 8 years of crazy excess from a wildly successful ebay run, just as eBay was coming back for me, it was revealed that both my landlords in CA had not been paying their mortgages for 18 months or more. Now, I am in NC with a paid off home on acreage with an orchard and I'm sitting on 9 months take home. Trust me, I am amazed I ended up in this situation. After 6 years of 500 hrs a year of OT, I would not object to the break. My only worry....where is the bottom.
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Old 05-20-2022, 09:17 PM
 
4,994 posts, read 1,978,476 times
Reputation: 2865
Quote:
Originally Posted by TexasLawyer2000 View Post
Political genius at a cost for ordinary people. The current administration is only bad because it's completely useless... in either direction. We saw Trump inflate the economy with his handouts and now we're seeing the impact of his lousy leadership. When you blamed Trump for Chicom bioweapons, I didn't agree with you. Not everyone is paid to post like you are.

Democrat handouts to replace the economic activity they shut down.
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Old 05-20-2022, 09:17 PM
 
Location: Gaston, South Carolina
15,697 posts, read 9,442,047 times
Reputation: 17596
2008/2009 was when I was more uncertain about the economy. I was laid off from my job. Mark Sanford chose that as a great time to start effing with the state unemployment commission. My then wife and I had two little ones to feed and clothe. Scary times for me.
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Old 05-20-2022, 09:18 PM
 
Location: Philadelphia, PA
4,474 posts, read 4,003,285 times
Reputation: 3052
No I was certain this would happen if the rigged election was allowed to go through. I mean we faced dissidents getting rounded up (they did for protesting the rigged election).

Maiming the population through phony vaccines, robbing all your stored wealth with stock market crashes and inflation, forcing your careers to be obliterated, using your lives as collateral for their desired world wars. They are actually being benevolent for how evil they are.

And it’s all up to you the masses, the tv watchers... We saw it with covid finally ending. You finally stopped going along with it and you forced them stop. It’s your tolerance and obedience, that’s the real terror on this nation.
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