Are we heading into a recession? I've seen posts about the market going to crash and people are hoping homes will be included. I feel out of the loop what do people know.
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Yes, a recession is coming. And the stock market will eventually correct.
The trick is that no one (no one) knows "when". (certainly no one on this board or at this bank)
"Ay - there's the rub!"
(written by Shakespeare in 1599/1600ish)
The first two quarters of 2022 had negative GDP, which used to be the technical definition of a recession. But Joe said no way..
It's actually worse than that from a practical point of view.
Definitions get redefined for certain people's benefit.
A lot of the numbers get fudged for certain people's benefit.
That means individuals have less accurate/less reliable information
to make good decisions with. I'm no mariner but it feels like everyone
is stuck out in the middle of the ocean and no one knows which direction
to paddle in to find land. It's chaotic.
"A recession could happen, but at the same time it has been heavily talked about the last 4 years."
I don't remember precisely but didn't we redefine what a recession was within the last decade. But I like the optimism. If we keep redefining what a recession is or fudge the numbers like adding an extra 800000 jobs created that weren't, we will never enter into a recession.
Lots of fear mongering here. A recession could happen, but at the same time it has been heavily talked about the last 4 years. I'm sure if you predict a recession every year, eventually you will be right.
All one can do is try to be financially prepared for anything, knowing one can never be prepared for everything.
"Many experts fear we are heading toward a crisis that could rival, or even surpass, the Great Depression of the 1930s."
It's probably going to be much worse than that.
The culture that existed in the 1930s was much 'tougher' and cohesive.
We had actual businesses back then that produced things we actually need.
Also I don't think any stimuli will help since our debt is the problem in the first place.
Our saving grace would be that other countries (maybe because of us) are worse off than us.
I heard we hired a bankruptcy specialist for president recently.
The signs are everywhere. Financial markets are unstable, debt levels are at historic highs, inflation is eating away at savings, and global supply chains are on the brink of collapse. Governments and central banks are running out of options, and the warning signals of a massive economic downturn are flashing red. Many experts fear we are heading toward a crisis that could rival, or even surpass, the Great Depression of the 1930s.
If this happens, life as we know it will change dramatically. Unemployment could skyrocket, businesses could collapse, food shortages may become widespread, and civil unrest could follow. While mainstream media downplays the risks, those who are paying attention know that the time to prepare is now. This is not a drill—this is a warning. If you wait until the crisis is in full swing, it may already be too late.
at least we pay our yearly due - 1 trillion dollars to fund the pentagon every year, to do next to nothing
quick thoughts
37 trillion in national debt
it looks like we have no plan at all on paying this down
2 trillion yearly deficits
china and russia are more competitive
our 'allies' ( canada, europe, maybe Japan, Australia, SK)
are worse off probably because of us
we have an enormous propaganda machine and censored/controlled media
the stock market looks completely out of touch with reality
Top 10 companies are pretty useless like Facebook, Netflix, ...
the culture is GONE - apparently love of reading and writing is white supremacist
jeez, the list goes on
if we stop printing extra money or we can't su-k dry other countries (or war)
our country flops - maybe it should the financialization of it has ruined it