Westside Steve Posted June 23, 2022 Report Share Posted June 23, 2022 If we're lucky and it's not actually a depression. https://www.aol.com/finance/r-word-white-house-framed-164742090.html?soc_src=aolapp Best case scenario maybe we can flush most of these cork soakers out of Washington. WSS 1 Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted June 23, 2022 Report Share Posted June 23, 2022 But at least we don’t get anymore Mean Tweets! Quote Link to comment Share on other sites More sharing options...
jbluhm86 Posted June 23, 2022 Report Share Posted June 23, 2022 13 hours ago, Westside Steve said: If we're lucky and it's not actually a depression... Personally, I predict that this will be worse than 2008. Probably the worst recession since the Great Depression. 13 hours ago, Westside Steve said: Best case scenario maybe we can flush most of these cork soakers out of Washington. WSS Just because dope fiends and crackheads die everyday, that doesn't mean the dealers and pushers go out of business. Likewise, just because shitty politicians occasionally leave office, it doesn't mean that there won't be fresh faces lining up to get their fix of PAC money. Nothing changes until the money in politics is drastically curtailed. Quote Link to comment Share on other sites More sharing options...
mjp28 Posted June 24, 2022 Report Share Posted June 24, 2022 If any of you actually lived through the "dead early/ mid no gas 1970s" or the wild "inflation/ stagflation crazy late 1970s early 1980s" when the prime rate went over 21% this is nothing compared to that. We were just getting out of Vietnam, you could easily get a 15-17% CD during that inflationary time. Sure the Russian War and Putin has things all screwed up but in time we should get through this......together (?). Watch any good TV shows lately ? Quote Link to comment Share on other sites More sharing options...
jbluhm86 Posted June 24, 2022 Report Share Posted June 24, 2022 25 minutes ago, mjp28 said: If any of you actually lived through the "dead early/ mid no gas 1970s" or the wild "inflation/ stagflation crazy late 1970s early 1980s" when the prime rate went over 21% this is nothing compared to that. We were just getting out of Vietnam, you could easily get a 15-17% CD during that inflationary time. Sure the Russian War and Putin has things all screwed up but in time we should get through this......together (?). Watch any good TV shows lately ? This recession will be much worse than the 1970s. One reason is that the US Government debt to GDP ratio from 1975 - 1985 was between 30-40%; the debt is 124% of GDP today. Another reason is that, even with the higher interest rates back then, housing costs are dramatically higher today: The Fed is going to have to raise interest rates dramatically like Volker did in the early 80s to curb inflation. Imagine today's housing prices, but with 1980s-like interest rates and greatly reduced purchasing power of today's dollar. I stand by my prediction. This is going to be a recession worse than anything since the Great Depression. Quote Link to comment Share on other sites More sharing options...
mjp28 Posted June 24, 2022 Report Share Posted June 24, 2022 I gave up on the national debt it's like it's an endless supply of money to burn through. It's scary. Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted June 24, 2022 Report Share Posted June 24, 2022 15 hours ago, mjp28 said: I gave up on the national debt it's like it's an endless supply of money to burn through. It's scary. leftwing radical politics may make this a crash. That isn't an exaggeration. Just ONE point - saw on Fox News yesterday, went and looked it up just now: bill gates, the lowlife rich guy, who demands that Americans start eating fake meat..............has been buying up thousands and thousands of American farmland. They have just found out about thousands of acres of land trying to be sold to a trust. bill gates trust. In South Dakota. Obviously, to stop ranches from grazing their livestock, I think. Think he's heavily invested in fake meat production? Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted June 24, 2022 Report Share Posted June 24, 2022 sounds similar to trying to force Americans to buy electric cars to anybody else? Quote Link to comment Share on other sites More sharing options...
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