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Well, I can't deny... The economic carnage is real. I find myself consumed by jealousy every time a homeless person shakes their can of change at me. I get it... Thanks to Brandon, they are doing better than me financially... They don't have to rub it in
I'm nowhere near retirement, my investments are worth a lot less than 2021 but making much more money now. Since I'm not a retired Boomer, still pretty damn happy.
Yes but that is you not the nation's People as a whole.
Houses were way overpriced so if that collapse is from fake paper net worth, good. That supposed liquidity isn't realized unless you sell...paper net worth is meaningless as you just end up overpaying for a different house when you sell yours.
I'll take deflation over QE silliness that destroys empires. The alternative is wishing for higher prices and more QE. No thanks.
Houses were way overpriced so if that collapse is from fake paper net worth, good. That supposed liquidity isn't realized unless you sell...paper net worth is meaningless as you just end up overpaying for a different house when you sell yours.
I'll take deflation over QE silliness that destroys empires. The alternative is wishing for higher prices and more QE. No thanks.
Deflation is what the fed fears the most. Great depression = deflation. Wages would go down, GDP would possibly nose dive, many jobs would disappear, and the government would step in (filling the vacuum) and take even more control of the economy, if history is any lesson.
Deflation is what the fed fears the most. Great depression = deflation. Wages would go down, GDP would possibly nose dive, many jobs would disappear, and the government would step in (filling the vacuum) and take even more control of the economy, if history is any lesson.
So would history be a lesson for you in the realization that we would’ve have an economic correction regardless of who is in office? It seems that many on this board downplay the role of central banks and their QE policy in regards to how the economy is going.
Also, we did just get through a pandemic that jacked up our supply chains. It seems that we need to look at how other countries are doing right now to determine if the problem in our country falls solely on the president.
So would history be a lesson for you in the realization that we would’ve have an economic correction regardless of who is in office? It seems that many on this board downplay the role of central banks and their QE policy in regards to how the economy is going.
Also, we did just get through a pandemic that jacked up our supply chains. It seems that we need to look at how other countries are doing right now to determine if the problem in our country falls solely on the president.
Of course we will have a correction. We're always having corrections. Usually, but not always, we get inflation. We know how to deal with that and the Fed has tools to manage it. But if it's not handled properly, it can also spiral out of control and become hyperinflation.
Little corrections are what we are looking for, to keep the ship on course. Not hyperinflation or prolonged deflation, which shocks the system.
As for the pandemic's effects on the supply chains... You will have to ask a business owner who did the most damage to the supply chains, the virus or government? China's government is still shutting down cities.
Of course we will have a correction. We're always having corrections. Usually, but not always, we get inflation. We know how to deal with that and the Fed has tools to manage it. But if it's not handled properly, it can also spiral out of control and become hyperinflation.
Little corrections are what we are looking for, to keep the ship on course. Not hyperinflation or prolonged deflation, which shocks the system.
As for the pandemic's effects on the supply chains... You will have to ask a business owner who did the most damage to the supply chains, the virus or government? China's government is still shutting down cities.
I don’t deny that governments have contributed to the supply chain issue. There is the meat of the issue, we live in a time of increased globalized markets. We have no control over what the Chinese government decides to do in reaction to the pandemic. We can agree that their lockdowns over there have been quite detrimental to the supply chain.
That works out to $50K for each and every of the 123 million households in the US. I'm a bit skeptical, since many people have no net worth. Suppose we limit it to only millionaire households, of which there are 22 million in the US. In that case, each millionaire household would have to have lost $265K, which also seems unlikely. I'm not an investment wizard, but my millionaire household net worth has experienced slower net worth growth, but not a net loss. Still skeptical.
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