You should be worried. More than you even realize.
Biden is the president, but he's not really running anything. This is really Obama 3.0 - most people in his cabinet are Obama people, and Obama people are Marxist elites that have been quite open about their plans. They are buying up houses and farms as fast as they can, because they want to literally own EVERYTHING, so that the rest of us are merely renters with no real rights or independence.
Have you heard the phrase "you will own nothing, and you will be happy."? They aren't kidding. They are moving society to a model where you won't be able to buy anything major outright. Then, you can be controlled in various ways - what you say, what you do, where you go, who you support, etc. If you don't fall in line, then you lose your car, your house, and even your ability to buy food. Cash is to be outlawed, so that your bank account can be easily suspended.
The government is printing trillions of dollars - but not actually adding value to the market. What this does is it effectively lowers your income and your savings by devaluing your money (that's inflation), meanwhile they are lending those trillions to mega corporations like Blackrock and several others, who are buying up the houses and farms. These companies are owned by the wealthy elite - people like the Rothschilds as well as Bill Gates, Bezos, and major politicians and powers from around the world.
They are also destroying the energy sector, food production, and more. They literally want to reduce the world's population by half, and are bringing about the changes to make that happen. They aren't just mismanaging things by incompetence, they are doing this on purpose.
If you go back to Biden's first day in office, he signed over 40 executive orders. He's signed hundreds since, and if you actually read what they were about, you would understand exactly why we are facing economic ruin. That was the plan. Hillary was supposed to win and implement her phase of the plan, which is why they lost their minds when Trump was elected and ruined their plans. The elites had Hillary locked down, but they had no control over Trump - a complete Washington outsider - and worse, Trump implemented an America First policy that was the opposite of the plan.
The big takeaway is that this was the plan all along. Reduce the population (in any way necessary), reduce ownership among the plebs, and get the remaining population fully under the control of the elite. You can't speak out without losing everything, and every rental/lease agreement will reserve their right to cancel your access if you exhibit "improper behavior."
You will own nothing, and you will be happy... or else.
Yes, I earned a bachelor of Science in Economics, and was already publicly warning people about the inevitable side-effects of the lockdowns & massive government-spending (G. S.) as far back as 2years ago. But I've got mixed feelings of this.
In a sense, the recession is vindication. For years, I've been mocked and downplayed as a myopic paranoid parroting U. S. political talking-points… as though my years of study meant nothing. My warnings of the effects on the delicate supply-chain was discredited as irrelevant, since the virus was most important. For years, my concern of boosted inflation from massive G. S. was downplayed, since it dated all the way from the Ron Paul-movement that started 2008-ish.
True, we were wrong with just how much spending would be needed to significantly-inflate the currency. (Looking back, I see that we were reacting to the "billion" being the new "million" in G. S.) But for the world's largest economy to be inflated at this extent didn't require billions. No, 1000x more & multiples of them in a concentrated 1yr-burst did the trick. Given that Washington's war in Afghanistan took 20years to spend $2tril, and the total COVID-response spending was $5.2tril, I'd probably be a white-haired senior-citizen by the time inflation reached these heights if not for the pandemic.
So (if vindication were the only thing in mind), I should be happy we're facing a record-breaking inflation & a recession. But, the very reason I labored in studying Economics, essentially forsaking my social-life for textbooks & sleepless nights was the concern for poverty, its sad effects on individuals (even leading to suicide, as told to me & my classmates by a professor), the ripple-effects on families, on communities, entire societies & cultures, nations, and the whole world.
An April government-report indicated the U. S. economy declined for the 1st quarter of 2022. Given that "recession" is officially defined as at least 6months straight of economic-decline, we'll only know if the world's largest economy is a recession after June. If that were so, you know there will be ripples across the globe.
The U. S.'s 3rd ever central-bank (the Federal Reserve System) decided to pull the trigger to "slow-down" the economy to combat inflation… by killing businesses' demand for labor, which has been pressuring wages upward.
https://www.theguardian.com/commentisfree/2022/feb/05/fed-raise-interest-rates-shaft-american-workers-robert-reich
In other words, they decided people's pay was "too high" and are crashing the economy to address that… as though "stagflation" (yes, stagnation + inflation) never ever happened anywhere.
It's also as though the Federal Reserve & Washington weren't stealthily robbing the people blind over the decades. In 1963, Federal minimum-wages was $1.25, so about 6quarters/hour was law.
https://www.dol.gov/agencies/whd/minimum-wage/history/chart
But U. S. pre-1965 quarters were made with silver.
https://www.usmint.gov/learn/kids/about-the-mint/quarter
Assuming the same weight, that's about 6g of silver, so (6 × 6g =) 36g.
https://www.usmint.gov/learn/coin-and-medal-programs/coin-specifications
Right now, 1oz (about 28g)'s of silver is $21.43 in common-use Federal Reserve Note dollars.
https://www.apmex.com/
By simple math (cross-multiplication: Dividing $21.43 × 36g by 28g), that means $27.55common's worth of silver/hr was minimum-wage back in 1963.
And let's not forget, minting coins isn't free. Notice, the exchange-rate for even 1silver-quarter is about $20/EACH (& even more!), with today's common-use currency!
https://www.apmex.com/category/52650/washington-quarters
So, what more the mandated 6 per hour‽ But then again, those are vintage coins, so antique-standard pricing applies.
Using the U. S. Mint's currently-issued silver-dollar coins, $34.53common-use = $1silver, when they are both legally/equally legal-tender.
https://www.apmex.com/category/22110/silver-american-eagle-coins
So given that it would take 4hr's to earn $5silver (= $1.25/hr × 4hr's), it should take ($34.53common-use × 5 =) $176.70common-use. Dividing that by 4hr.'s should just to get a per-hour rate, that's $44.18common-use per hour!
Just by removing the silver in common-use currency and inflating-away said money people use to earn a living, save, and try to survive, they have robbed the masses unawares of their buying-power… and tricked the citizenry with sham "raise the minimum-wage"-initiatives! Yes, the peoples' bank-account numbers are higher. And more bills & coins are given, yes. But the buying-power the bills & coins are supposed to represent‽ lol Nope, the bureaucrats, politicians, and cronies already spent so much of it, BEFORE the prices re-adjusted for the rest of us… while they blatantly tax us afterward… as income-tax AND sales-taxes.
And they STILL want to spend more and keep promising voters far more than they can pay in taxes (& inflation, the an unofficial tax)!
And guess what: It's not a bug. IT'S a FEATURE！！！
https://www.imf.org/en/Publications/WP/Issues/2016/12/31/The-Liquidation-of-Government-Debt-42610
And as the U. N.-agency International Monetary Fund (I. M. F.)'s 2015 report indicates, this "Financial Repression" isn't just the Washington's system. It's WORLDWIDE!
Hence, for whatever my advice is worth (if anything), only store in your jurisdiction's common-currency what you expect to spend in the foreseeable future (ex. budgeted expenses & emergency funds). Any long-term savings should be transferred to other assets. (Historically, land, gold, and silver did that job. But, the times have changed. Find what stores its value well-enough in the long-term.)
I think we are in grave trouble when Biden shut down the pipe line and put back in regulation shutting down so many energy revenues we had. Then shutting down the country during COVID setting up so many businesses to fail. I’m a realtor and feel it bad got killed because I also own properties people not paying rent. Luckily I have more people who paid and had enough money. People don’t know about corporations buying up entry level homes all over America. The second they are posted they are paying cash what ever we’ll above for last few years. During COVID these companies was on a rampage that what drove prices up so high. There are so many things I can list on her we are in trouble watch October you think the stock market bad now. This is nothing the sell off of going to be historic my broker told me to jump out and roll it over. I’m getting out in late August or by mid September it’s going to be dire.
My parents who spend their youth under communist regime with hyper inflation are optimistic. They say "you don't need all that materialistic BS to be happy."
Somehow they are right. How does a BMW with service costs of 1000$ every 20000km or an Iphone that falls apart few months after warranty ends make me happy?
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Sell liquor, drugs, prostitutes, or gambling. I was having a rough time during the. com/housing market crash, then started doing PI work, one of the guys I worked with said I could make more at clubs, and I did, then strip clubs, and the worse the economy got, the better business got.
It will be the same now. Prohibition and the great depression happened at the same time, yet those with cheap stills were able to afford better cars, weapons, and organizations then the police...
It'll happen the same way this time around, unless we try fighting Russia and China at the same time, or have a civil war, then any predictions are out the window except that we're screwed. So anyway, I'm not worried, it just depends on how flexible you can be.
It might just be actually even worse than the great depression. The level of comfort and ease we were living in since WW2 was a fluke of history and we're slowly returning back to normalcy - ie, when everything mostly sucks.
I'm worried about the economy even if other people aren't. The economy has been collapsing many decades ago due to increasing wealth inequality from antisocial elites becoming wealthier than most people through cut-throat methods. Formerly democratic countries turned into sweatshop dsytopias to make these antisocial elites wealthier than most people. Younger generations have been groomed to become impulsive consumers that make these antisocial elites wealthier than most people. Nikocado Avocado is proof that younger generations are doomed. Children are being neglected because modern parents don't have the wealth, intelligence, and other resources to get younger generations out of the cesspool that antisocial elites have caused. It's been proven that older generations have higher I. Qs than younger generations now. Older generations were more professional, less lazy, and smarter than these people from younger ages. In the past, adults used professional grammar, punctuation, and spelling on the internet. Younger generations are too lazy to do that. It's causing the rise of illiteracy. This illiteracy is negatively affecting younger generations' competence as workers in the business world. Then, predatory advertisers and marketers are making it harder for younger generations to be competent workers, too. Emotion-based journalism is making it harder for younger generations to take advantage of critical thinking. Mainstream media controlled by cut-throat people is enabling women from younger generations to have a victim complex. It's to make women be insecure consumers buying beauty products rather than books for getting out of poverty. It's making women dumber, not smarter. Besides women, the men have become increasingly emasculated and dumbed down since many decades ago. The transgender movement has been making cisgender males develop female traits. Female traits such as neuroticism, submissive behavior, a victim complex, and other things that prevent power to build civilization with logical thinking properly. It's a reason why younger generations have become dumber than older ones. All of this is why the economy has been collapsing.
Yes, and this would be hardest on certain people, like young and old. Those whom made a killing in the markets and piled up money are ok... for now.
These situations end up in collapses and wars.
Worry is not a plan of action and does no good. The Bible says to not be anxious for today has enough worry of it's own.
So be wise, prepare, be flexible, work hard, save, live below your means, have consideration for others and extra patience and empathy for those in need.
I had a man approach me not long ago at a train stop in NYC... "I haven't eaten today, can you help?" or something like that. He was a big tall black guy and I'm short Europe descent. What you gonna do in that scenario? You better be prepared... cause it will be frequent as this gets worse.
My rule is to discern their intention and emotional state. I felt ok with him and I generally always say "Yes!" then add a but to it! Some people cannot take a no right now..."no", might tap into that root of sadness which ends in more sadness. Thus, I asked him for HIS help and I'd pay him for his knowledge and experience. That made him feel good, he obliged, we talked, exchanged info, I paid him for his work... said would pray for each other and I have prayed and wished well. A girl, maybe handle this differently...
Turn lemons into lemonaide... for there are lots of lemons aorund...
Not really, I mean I been worried for decades and it ain't done much good for me. I mean the whole system is set to protect the interest of the wealthy and more specifically the super wealthy. So income disparity, inflation, living wages, minnium wages... its all smoke and mirrors folks meant to kept on half of America permanently pissed at the other half... so the top 1% can keep getting away with buying and selling political power. While the pee-wees like us come here worrying about Johnny Depp, debating abortion, or if trans gender is mental health issue or a real thing that we just discovered in like in the last ten years when humanity has existed for millenia knowing what it meant to be born with a penis. We punish cops for being cops, while law breakers break the law... like serious I still don't know what getting pulled over for traffic top, then getting out your car and fighting a cop, then you flee the cop after wrestling him and you get shot... the cop is wrong? I mean these are things that don't bring everyone together and honestly they are supposed to.
Does economy piss me off? Yes
Do I worry about it? No, fuck'em.
Well the people saying it’s going to be like the 1920s don’t know history. The 20s were know as the roaring 20s we had amazing economic growth during that time. Didn’t help Europe was screwed since it had just fought the “Great War” AKA ww1. It’s wasn’t until November of 1929 when the Great Depression hit that we started looking like what we do now.
now we are not there yet we’re more like the inflationary period of the 1970s and it’s stupid because we shouldn’t be there, Biden is trying to push this green energy agenda bring up the price of gas and he refuses to allow American oil companies to not be able to drill in the United States which mean we have to rely on other countries to supply our oil, Russia is one of them. Saudi Arabia is another, unfortunately the Saudi hate the Iranians so joe Biden is trying to make a deal with Iran (with help form Russia). And now is trying to beg the saudis (who own OPEC) to sell us more oil to get the prices down. Of course the saudis won’t deal with democratic because they screwed the saudis over so as long as we have a democratic President things will get worse. This won’t get better until democrats are out of office and never allowed to take over again
Oh definitely. We are headed to an economic collapse due to our governments greedy politicians and due to the greed & manipulation of corporations and the rich. After the collapse, the upper middle class families that make 400,000 to 500,000 a year will be at the poverty level and everyone else below will either choose between their homes and being able to eat. There will be people rioting to those they think responsible, there will be looting and the USA will become a 3rd world country because of how near inhabitable the country will be. People will be fighting over resources and people who don't know how to survive without convenience will die. There will be other disasters as the facilities that power or society fail from not being able to be maintained. The working class supports this nations companies and buisness, and the rich, company owners, & political have forgotten that and neglected the working public for over 60 years for their own greed and wants instead of doing their jobs to maintain every part of this country and as we fight to progress the classist ideals of the rich have removed the safety net of the poverty and homelessness as they see the working class as an eyesore. This is where greed and power gets us...
There’s no reason to worry about it because the economy has already tanked. Anyone that has been flowing the housing markets for the last 5 or so years can tell you that. Rich people have been trying to get rid of their cash and have been buying property as a hedge against the collating dollar and they have been doing so in such a way that they are intentionally hiding what they’re doing. The economy actually collapsed somewhere in 2020 before the way we calculate money in circulation was changed. Everything for the last 3 years has been an effort to mitigate what is going to be a bad enough economic depression that the Great Depression looks like a bad trading day in comparison. We have already experienced shortages once but by August we will have severe diesel shortages, gas will likely be over $6/gal as a national average, and food will be extremely cost prohibitive. By the first quarter of 2023, we will have extreme food shortages and people will be starving to death and nearing revolution as a result.
You should be worried. In my whole life I have not seen things so bad in this country and I am amazed at how fast it got this way. Just in the last 18 months prices have doubled on a lot of things that are considered necessities, it seems like there are shortages of necessities as well. I have had issues with getting prescriptions filled. I have put off major purchases and will be staying close to home this summer.
Crime is on the rise and six months after my unemployment benefits have run out I still cannot find a job. I was alive during the Vietnam War era and remember the gas shortages during the Carter administration and it was a problem, but no where near what is happening now.
Yes. I am an economic major in the first year, many numbers are similar of the recession periods and no particularly strong reversals in the 'unfortunate' trends which is prevelant in the investment sentiment.
However financial failings are common and even essential in the debt-leveraged economy which can be followed with high inflation and many job loss, and the stimulus measurements are intended to smooth the downfall by the expense of lesser extreme rally in the boom phase.
What's most worrying to me is that financial measures are about the demand side while we are clearly witnessin cost-push inflation as the real economy is losing performance and the overall goods and services that can be provided had a sharp shrink with lockdown extending and markets escaping equilibrium.
Good luck
If you look at the stock market and the economy as a whole it looks as though we’re going through a regular downturn. If you start digging deeper you’ll realize that the whole thing is actually falling apart. And that’s not even considering the other crisis we're facing right now- energy crisis, shortages, inflation, housing market bubble, climate change, broken institutions, broken families, broken kids, mental illness, global destabilization, civil strife, famine, rapid rise of authoritarianism. The rich have been bailing for over 2 years while all us normies have been hoping to recover from what most perceive as a crash due to Covid.
However bad as you think it is, it’s so much worse and most peoples normalcy bias is going to take them by surprise. We’re talking about the collapse of globalism and free trade.
You aren’t being reasonable.
You already know walking places or riding a mountain bike getting a moped could save you on gas but you would rather Pay the extra money by driving everywhere.
Don’t complain about stuff that is of your own doing. Your life is the way it is because the job you chose the place of living you chose.
So many factors your not considering because you wanna be seen as a victim you wanna feel that victimhood cause it gives you purpose. My cousin has a Bike it cost him 2 dollars to fill up his tank he gets 100 miles on it. And only fills it up when he’s used it for a bit.
Somewhat worried. And I do think a recession is definitely coming, as I also do think gas will hit $8 or $10 a gallon by the end of the year. The best thing you can do is to just prepare yourself for impact as much as you possibly can, and to treat the situation as if the worst will happen. It's not that you're being negative or pessimistic, but by doing this you don't set yourself up for pain and unpleasant surprises up ahead.
The bad news is already happening, just try to gear up for it. Save as much money as your circumstances will allow. Stock up on essential items and canned goods before prices get any higher. Create the cushion you need to weather the storm ahead, cuz it is coming.
Dow will be under 25,000 soon and Nasdaq under 9000 , with Bitcoin under $10,000 . This will happen this year. Every time Fed raises interest rates , you will see sell offs. Gas will continue to go up and inflation too. The Fed needs to raise interest rates to 15% to stop inflation and then gas prices will drop too. Grocery prices will go down, However , there will be fewer jobs too. Not to mention the interest on the national debt will be un-serviceable and National debt will sky rocket leading to a great depression , then food prices will drop like a rock but no one will have a job and afford food. Thanks Fed and Joe Biden.
In my experience I have always looked at life as a glass of water both 1/2 full AND 1/2 empty but learned from the past to always have a plan B in place where you always have to expect the worst and hope for the best and being a realist has helped me over difficult times. When looking at the stock market and seeing popular stocks crashing hard and values plummeting, now is a good time for those with 401k plans to up their contributions where...
1). It is tax deferred so when you look at your paystub and it has your Gross amount you will also see gross taxable amount which is less and you get taxed less.
2). In life there are obstacles but as my late wise grandfather once told me that "tough times don't last but the TOUGH do"
Sorry if it sounds like I'm babbling and so on. 🤐
I’m an economist and while nobody has a crystal ball, we can use statically data and history as a measure. Inflation is extremely high, and the fed is desperately trying to bring it lower. When the fed engages in what’s known as quantitive tightening which is when they reduce the money supply floating around in the economy by raising interest rates. When the fed does this, it’s rarely a soft landing. Last quarter we had negative GDP. We are likely to continue to see stagflation and negative GDP. No, it won’t likely be like the Great Depression, but we will likely see a recession. Markets have troughs and peaks and are cyclical in nature. Right now, we’re going down, and then the secular trend will go up in time. It happens.
"Inflation" is non-existent right now. My day job is in Forex and the USD is at its highest point in almost 20 years. The actual problem is the supply shortage and corporate greed. Add on top of that the increase in gas prices because of the war in Ukraine and more corporate greed from big oil companies and the price of many things is going up.
If you need proof that there is 0 inflation you can look at certain goods like Arizona iced T which is still $1 or many mobile apps that are still at $0.99. You can check Itch. io and see the price of all their apps and software is still the same.
The only problem is unchecked capitalism.
You can't come into a economy that is in recovery and spend money with reckless abandon trillions and trillions and trillions of dollars for which we do not have. That we will have to borrow from China. Which also means we will be printing more money and putting it on the market making the dollar worth less and less More printed money dilutes the pool of available money in circulation chilling the value of the dollar yes we have higher the inflation. I don't care if you're librialI don't care if you're conservative Democrat Republican whatever excessive spending is the main cause of inflation and seems to be like a heroin injection to the current administration to spend more money. The Federal reserve needs to get off of his ass and raise interest rates to combat this inflation as well. We're in a perfect shift store and there's one person driving this ship.
I don't worry about the economy because conditions can never have as little produced as was in 1900; let alone 1800. In 1900 half the people live or works on farms. Now less than 1% because with tractors and equipment as opposed to a mule plow, farming is 50 times more efficient. In the 1800s entire families worked just to have enough to survive.
If we had 50% unemployment and it will never be that high, the 50% employed would produce far more than 100% employed did a hundred years ago.
Planned collapse i have seen coming for years and is artificially accelerated. Expect it to collapse and they will try to replace capitalism with something far worse. Don't give in when that happens, we can rebuild the economy no matter how bad but yes it will get bad for a while. Make sure you have a source of food.
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