Here comes the recession

[Westside Steve]

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

[Canton Dawg]

But at least we don’t get anymore Mean Tweets!

[jbluhm86]

@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. 

@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.

[mjp28]

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 ?  

[jbluhm86]

@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.

[mjp28]

I gave up on the national debt it's like it's an endless supply of money to burn through. 

It's scary.

[calfoxwc]

@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?

[calfoxwc]

sounds similar to trying to force Americans to buy electric cars to anybody else?