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Near record low unemployment. Near record job creation. Home equity at record levels. The Fed furiously raising interest rates to slow demand for goods and services. And peeps think we are in a recession!
Job creation? In the vast majority of cases they just let you have your old job back after the insane lockdowns. RE bubble stock market bubble. The Fed is so far behind the curve on interest rates it ain't funny.
We are done. The elite are making every wrong move either by design or straight up stupidity. Sanctions were a great idea huh? Go electric. Grid can't support it and it takes more energy to produce the batteries than it saves. The head of the DOE can't even tell you how many gallons are in a quart.
Hard to take the proclamations of doooooooom in that post seriously after that disconnect from reality.
I recently rented a full-sized car for a week in Orlando for about $280.
But the real disconnect from reality in sweettea's post was that high car rental rates are some kind of sinister government plot to institute a one-world government.
I agree with the video. Thing will get much worse. If Republicans win this year and in 2024, they might be able to make things better than they would have been, but the economy will still deteriorate. Unfortunately, this will be held against the Republicans in 2026, 2028, etc. It's almost better if Republicans lose and Democrats have to take the full blame for the problem that was mostly caused by them. That's one reason I wasn't too upset about Trump losing. I knew the economy was going to crash.
As for the stock market, while I'm glad I got out entirely in October, the dollars I took out have lost value due to inflation. So it probably isn't much of a win for me. I'd have to see a comparison of stock market decline percentage to value of dollar decline percentage. Stocks still have a long way to fall. It is interesting though that the day traders are still gambling heavy on short term gains. It will only make the ultimate crash much worse when they decide it's not worth it anymore.
^^^^^ A deflection that doesn't refute anything in hooligan's post (that you are replying to).
Deflection? You democrats are king at deflection and that got us Biden. The deflection,,Russia hoax, Jan 6th so called Insurrection hoax, orange man bad when times were good. Biden told everyone he would stop the production of fossil fuels and stop fracking before the election. So now we have massive inflation, high gas prices, natural gas is three times more expensive and many will have a huge heating bill .
Oh, the left loves to create deflection. Then the useful idiots actually support bad policy. If Trump put a war on fossil fuels do you think I would support him? Hell , No, I am not a useful idiot to follow bad policy.
Near record low unemployment. Near record job creation. Home equity at record levels. The Fed furiously raising interest rates to slow demand for goods and services. And peeps think we are in a recession!
in 2007 people were saying the same thing "Near record low unemployment. Near record job creation. Home equity at record levels. Stock market (dow) at record high 14,000""
People have been saying that over and over but then the stocks always go back up.
You are assuming the future can always be predicted from the past. The central bank interventions since 2008, and then 2020, are beyond anything that was done before.
in 2007 people were saying the same thing "Near record low unemployment. Near record job creation. Home equity at record levels. Stock market (dow) at record high 14,000""
and then what happened....hmm
Way different mortgage lending and debt repayment as compared to 2007. No vast seas of unknown global debt malinvestment risks as back then. Actual home equity is higher, defaults lower.
I do believe that housing in general has peaked, but not doomed for any 2008 style crash taking down the world.
The best way to sell someone on your book or seminars is to get free publicity with sensational headline grabbing claims.
This guy is clearly out to make a buck.
The video says we have massive unemployment. Huh?
I agree that central banks have been out of control, and have caused the mess we in now. And I agree we are headed for a mega crash, unless the Fed has more stupid ideas.
Really, the longer you put off a correction the worse it will be. We are now looking at a tsumani of a correction.
Not in a million years! Our current economic dilemmas are not even in the ballpark of the 2008 crash. IMO of course. The stock market 'crash' is about down to the numbers of 2 years ago, not by any notion into disaster territory. By and large these are paper losses.
And the Fed, totally ignorant with money policy before the Great Depression, is obviously working overtime in staving off another one.
Save this comment everyone! Hoonose is gonna eat his hat.
1. The bit about Lenin saying the establishment of a central bank is 90% of communizing a country.........is taken wildly out of context. Lenin's point was The Soviet Central Bank would handle nearly all banking in The USSR from retail banking through setting and implementing macroeconomic money policy and that future communist states should follow the same path.
1.1. If you or anyone else would like to describe how a modern economy could function without a central bank I'm all ears.
2. Money is not debt.
3. Per Yellen and Powell.......Yellen is way too far left for my tastes but neither she nor Powell are Marxist's claiming so it just dumb.
4. The S&P 500 isn't the S&P 7.
Yes, I agree, we NEED central banks. But we also need some way to prevent them going out of control. We knew our Fed was out of control in 2020, when Powell took the brakes off QE.
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