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re: Is anyone else out there concerned about an economic collapse.
Posted on 7/2/20 at 5:31 pm to sawtooth
Posted on 7/2/20 at 5:31 pm to sawtooth
I’m ok with just kicking the can down the road so long as we can kick it far enough to not completely screw my kids or grandkids. After that, whatever. 
This post was edited on 7/2/20 at 5:32 pm
0
Posted on 7/2/20 at 5:33 pm to sawtooth
quote:
We are even now discussing another 3 trillion dollar bailout of money which we do not have. Where does it end?
Historical precedent would say that it doesn't end.
But then again, perhaps you should tell all of the people buying 30 year US treasuries at sub 1.50% about this collapse.
Posted on 7/2/20 at 5:33 pm to notiger1997
quote:wut?
Bernie wins I
Posted on 7/2/20 at 5:34 pm to sawtooth
I am more worried about the totalitarian shut down of the economy than the Covid virus.
That being said, the job report as of late was much better than expected for June. It was adjusted upward for May. So things are looking very good.
That being said, the job report as of late was much better than expected for June. It was adjusted upward for May. So things are looking very good.
Posted on 7/2/20 at 5:39 pm to JustSmokin
very misleading numbers. continuing unemployment claims is still very high. very high my friend
not good for Americans whose savings was already stretched thin.
avg Joe's don't have way more money in their checking accounts. The top 20-25% probably do. They are the same ones investing more which I recommend as long as jpow has the money printer gassed up.
next fiscal stimulus Trump want to inject bigly. he said it's going to be bigger than even the Dems want
not good for Americans whose savings was already stretched thin.
avg Joe's don't have way more money in their checking accounts. The top 20-25% probably do. They are the same ones investing more which I recommend as long as jpow has the money printer gassed up.
next fiscal stimulus Trump want to inject bigly. he said it's going to be bigger than even the Dems want
Posted on 7/2/20 at 5:40 pm to goofball
quote:No, they’re not. More than 19 million still laid off and new layoffs/unemployment are growing.
So things are looking very good.
Posted on 7/2/20 at 5:40 pm to tigergirl10
exactly. @goofball is lying through his teeth
Posted on 7/2/20 at 5:41 pm to sawtooth
I'm concerned about an economic collapse. If anyone isn't they aren't paying attention, or being ignorant.
Having said that, I think taking all the gloves off will result in a dramatic increase in the number of people who get sick, which will come with it's own set of economic issues. If the hospitals get overrun, who is going to bail them out? If the insurers get creamed with claims, who is going to bail them out? Who is going to cover wages for people who are sick for weeks and can't work?
The people who believe we can remove all restrictions and not have any problems, quite frankly, are idiots.
Anger is warranted, and it needs to be directed at the Chi-coms. And when it's all over, we need to strongly look at personal responsibility in this country. Few people are financially prepared for a crisis. Because every time we have had one (hurricanes, etc), the government has bailed them out.
Having said that, I think taking all the gloves off will result in a dramatic increase in the number of people who get sick, which will come with it's own set of economic issues. If the hospitals get overrun, who is going to bail them out? If the insurers get creamed with claims, who is going to bail them out? Who is going to cover wages for people who are sick for weeks and can't work?
The people who believe we can remove all restrictions and not have any problems, quite frankly, are idiots.
Anger is warranted, and it needs to be directed at the Chi-coms. And when it's all over, we need to strongly look at personal responsibility in this country. Few people are financially prepared for a crisis. Because every time we have had one (hurricanes, etc), the government has bailed them out.
Posted on 7/2/20 at 5:43 pm to stout
quote:
I called about a big Class A RV today. Not a cheap one either and the salesman told me they are selling left and right and about to be out of inventory and can't get more because manufacturing is slow due to COVID. He's the 3rd one to tell me that in some fashion over the past 2 weeks. Car sales and house sales are insane right now too. People apparently aren't concerned.
Stimulus checks and forgoing this year's vacation probably is enough money for a down payment, finance the rest at 12 percent. What's going to happen in 6 months when they can't make the payment, or next year, when they actually want to go on a nice vacation, not sit at a camp in an RV?
Posted on 7/2/20 at 5:44 pm to kywildcatfanone
quote:
And I read today that Biden wants to remove all trump era tax breaks, and increase taxation on small business, so elections matter.
That's one way to start balancing the books. At some point, we have to pay for all of this.
Posted on 7/2/20 at 5:45 pm to tigergirl10
quote:
More than 19 million still laid off and new layoffs/unemployment are growing.
Of which most are making even more money than they did before COVID-19.
Posted on 7/2/20 at 5:45 pm to Evil Little Thing
quote:
When I read my Facebook feed, I feel like I’m in a twilight zone. Nobody cares about the economic devastation. It scares me most.
The vast majority of people have no understanding of basic economics. Supply and demand, the value of the dollar, inflation, etc. They think the government can just take care of everything.
Posted on 7/2/20 at 5:45 pm to sawtooth
Sort of like Germany in 1921, but with Robert Mugabe running the country.
This post was edited on 7/2/20 at 5:46 pm
Posted on 7/2/20 at 5:45 pm to LSUFanHouston
quote:
That's one way to start balancing the books. At some point, we have to pay for all of this.
Let's be fair - his tax increases will NOT go to paying down the debt.
Posted on 7/2/20 at 5:48 pm to sawtooth
There are plenty of jobs people just don't want to do them because they think they are too good for them or over qualified. They don't give you a degree in hustling
Posted on 7/2/20 at 5:48 pm to slackster
quote:
Let's be fair - his tax increases will NOT go to paying down the debt.
We will see. Under the tail end of the last two Democrat presidents, deficits dropped way off (even had a small surplus under Willy).
Granted, Biden is no Bill, that's for damn sure. Or shall I say, whomever is pulling Biden's strings...
Posted on 7/2/20 at 5:52 pm to LSUFanHouston
Neither party cares about the national debt anymore.
Posted on 7/2/20 at 5:54 pm to fallguy_1978
quote:
Neither party cares about the national debt anymore.
Or spending, etc...
Posted on 7/2/20 at 5:56 pm to stout
quote:
Car sales and house sales are insane right now too.
Yep.
I posted this on the Money Board: I went to look at a home that was listed for $375k. On the market for about a day. While I was there, the listing agent called and said they accepted a cash offer for $390k. Multiple cash offers bidding on the home.
Economy doesn’t seem to be impacting the housing market at all.
Posted on 7/2/20 at 5:56 pm to LSUFanHouston
fed spending keeps boomers retirement accounts high. they will inject and inject to keep boomers afloat. since you know the truth now, get your money into the market before it's too late.
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