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What is holding this economy together, I don't get it?
Posted on 9/25/23 at 6:16 am
Posted on 9/25/23 at 6:16 am
How are we not looking at a credit crisis?
Costs are simply insane. And anecdotally I am seeing people all over the place that still seem to spending money like drunk sailors, way outside their means. Expensive vacations, new boats, campers, new kitchens, travel youth sports, and going out to eat alot, and people that I know aren't bringing in the income that you would think is required for this lifestyle.
For whatever reason, extreme inflation has not had a tightening effect like you would think, at least not visually, there is only so much this bubble can inflate before it pops.
Costs are simply insane. And anecdotally I am seeing people all over the place that still seem to spending money like drunk sailors, way outside their means. Expensive vacations, new boats, campers, new kitchens, travel youth sports, and going out to eat alot, and people that I know aren't bringing in the income that you would think is required for this lifestyle.
For whatever reason, extreme inflation has not had a tightening effect like you would think, at least not visually, there is only so much this bubble can inflate before it pops.
This post was edited on 9/25/23 at 6:17 am
39
Posted on 9/25/23 at 6:25 am to burger bearcat
I think that most people feel the strain, they know how far their money is going vs how it used to, but they have given up and are following the example of our government. They are deficit spending like there’s no tomorrow.
Posted on 9/25/23 at 6:26 am to burger bearcat
quote:
What is holding this economy together, I don't get it?
Great question... reason I'm not in finance.
Prices out of control for 2+yrs, supplemental covid $$$ ended, housing at worst levels in 20yrs, credit debt at all time high, wages under inflation, etc...
Posted on 9/25/23 at 6:28 am to burger bearcat
It appears to be some sort of magic.
Posted on 9/25/23 at 6:37 am to Hennigan
Nothing makes any sense. Just like when everyone was willing to wear masks.
Only thing I see is that this generation hasn’t seen any kind of hardship ever. Naturally, they aren’t scared and don’t know how to cut back. No one preaches saving for hards times like I remember they did growing up.
Only thing I see is that this generation hasn’t seen any kind of hardship ever. Naturally, they aren’t scared and don’t know how to cut back. No one preaches saving for hards times like I remember they did growing up.
Posted on 9/25/23 at 6:40 am to burger bearcat
Economics isn’t my thing. All I know it’s what’s in my pocket/bank. I’ve never lived beyond my means. It’s becoming increasingly difficult though. Adjustments have to be made.
Maybe for those still spending, adjusting takes longer. Denial. Maybe they just don’t care. Who knows. All I know is that the economy is shite right now.
Maybe for those still spending, adjusting takes longer. Denial. Maybe they just don’t care. Who knows. All I know is that the economy is shite right now.
Posted on 9/25/23 at 6:41 am to burger bearcat
Two words …. Tax dollars
Posted on 9/25/23 at 6:43 am to burger bearcat
I ask myself the same question.
I see brand new mustangs and chargers.
But no one is working.
I see brand new mustangs and chargers.
But no one is working.
Posted on 9/25/23 at 6:46 am to Hennigan
quote:
It appears to be some sort of magic.
We are one geopolitical event from a very bad situation.
Posted on 9/25/23 at 6:47 am to burger bearcat
Whistling
Past
The
Graveyard
Past
The
Graveyard
Posted on 9/25/23 at 6:48 am to dstone12
quote:hyperbole
But no one is working.
Posted on 9/25/23 at 6:49 am to burger bearcat
Omnibus Bills/Printed Money. Mostly been this a decade as the interest rate determined the growth. Trump's economy was based on cheap energy production and Global marketing.
It's starting to slow down. Inflation v Printing is a one way street to ultimate collapse.
It's starting to slow down. Inflation v Printing is a one way street to ultimate collapse.
Posted on 9/25/23 at 6:50 am to loogaroo
In the last 20ish years we’ve had multiple conflicts in the Middle East
Largest terror attack on US soil
Covid
And two depressions.
Besides being in world war 3 I don’t know how you can make that statement
Largest terror attack on US soil
Covid
And two depressions.
Besides being in world war 3 I don’t know how you can make that statement
Posted on 9/25/23 at 6:52 am to burger bearcat
Credit cards, when that crisis hits will be huge I know several people living outside their means and they use credit cards for that stuff.
Posted on 9/25/23 at 6:53 am to burger bearcat
Duct tape.
Posted on 9/25/23 at 6:55 am to Placekicker
quote:I would imagine this is the motivator and feel of desperation. Don't understand it but that has to have something to do with it. Personally, and I credit my my wife more for the discipline, but we enjoy being debt free.
They are deficit spending like there’s no tomorrow.
Posted on 9/25/23 at 6:57 am to burger bearcat
Liberals will tell you everything is fine, you are just living beyond you means if you can't afford to live in this economy.
Posted on 9/25/23 at 6:57 am to burger bearcat
Bidenomics is magical. Greatest economy in US history.
If you disagree you are a white supremacist
If you disagree you are a white supremacist
Posted on 9/25/23 at 6:59 am to burger bearcat
Credit card debt is setting new record highs daily. People have no choice but to emulate the government and kick the can down the road. I have no idea how poor people are getting by when families making 100k are squarely middle class in this country.
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