I expected the Biden regime to do exactly what they did and expected the results that happened and are still happening. What idiots these people are.
I don’t know if there is an economic “Bomb Cyclone” on the horizon, but I’m glad I’m debt free. No mortgage, No car payment.
All these write ups are just suger coating the true disaster that is coming.
Yes.
I want liz chennys advisor, her assets went up 600% in 2 years $7-$44 Million.
2023 will be in future textbooks.
If we still read books in the future...
S&P 500 is down 20% since it topped out exactly a year ago on Jan 3, 2022. Usually with that kind of slooowwww decline it goes down at least 40% -- ala 49% decline from spring 2000 to fall of 2002 (2 and a half years) or 56% decline from fall of 2007 to March 2009 (1 and a half years).
If it goes down rapidly as in 30% in a few months -- ala 1987 and 2020 -- it has a tendency to bottom out at 30%-ish and rapidly go back up. But it took 9 months to go down 30% this time (January to October 2022), so I stayed out.
It looks like I’m going to need to buy me some Battle Vision Storm sunglasses and a bigger cyclone bomb snow shovel.
No, not ahead, it is here now.
We’re in the middle of one. I don’t expect my well thought out retirement portfolio to continue to fare me well into a Biden (or any democrat) administration. 2 years of utter destruction so far and the dopey republicans just scratch their vacant heads.
We’re in a *recession* now, and will go into a *depression* in a few months. Prepare for it.
Feds need to lower interest rates now.
Get your basements ready the unemployed kids are coming home to roost.
Probably now an economic “atmospheric river” given the new hysterical language.
That said, we are indeed heading for something very bad, I fear.
No....
Just a Financial Polar Vortex
An Economic Earthquake
A Market Tsunami
Possibly even a Stock Market Supernova
Since we’re all guessing here I will too.
Don’t fight the Fed. Their biggest weapon against inflation is demand destruction.
Since we do NOT have any chance of Supply Side help for the next 2 years that’s all there is, my friend.
But Democrats have done their worst to create Stagflation over the last 2 years. Read
We’ll get a Recession, the Fed will be pushed by Biden’s puppeteers to lower rates too soon and inflation will not be fixed.
Then there’s the problem of the cost of energy & the “Green” idiocy.
Buckle up.
Created by democrats
The Financial Times reported that 2022 was the worst year for U.S. stocks and bonds since 1871. Bonds down 17%, stocks down 18%. Those are nominal numbers, and are not adjusted for inflation.
The Morgan Stanley Capital International (MSCI) World Index reported that $18 Trillion was lost globally by stocks and bonds in 2022. Again, nominal numbers, not adjusted for inflation.
Assuming that collective reporting by the governments of the world is even remotely accurate, the financial net worth of the world was $250 Trillion, global net wealth was $380 Trillion and the Gross World Product was $80 Trillion at the end of 2021.
So, in a single year, 27.5% of Gross World Product, 8.8% of the financial net worth of the world, and 5.8% of the world’s total wealth got annihilated.
Officially, the national debt of the United States is $31.5 Trillion with an additional $173.4 Trillion of unfunded liabilities, mostly for Medicare, Social Security, Medicaid, etc. State and local governments are carrying an additional $3.5 Trillion in debt. To put this in perspective, the total government liabilities of the United States are equal to 84% of global financial net worth.
The rest of the governments of the world are carrying more than $63 Trillion of “official” debt, and a much larger, but unknown, total of unfunded financial liabilities.
Globally, the governments of the world “officially” consume 17% of GDP, and run deficits of 10% of GDP. The United States “officially” spends 36.9% of its GDP on government and runs deficits of 6% of GDP. To date this has been made possible by historically low interest rates. However inflation is driving increases in those interest rates, which will make the financing of even “official” government debt unaffordable for many nations, including the United States.
Nationally and globally, government debt and unfunded liabilities far exceed global wealth, and are growing faster than global wealth. It addition, much of what is on the balance sheets of global wealth are relatively illiquid assets. In the hands of the their current owners, they are probably productive, but if forced to liquidate, they would likely realize a small portion of their book value.
Again, all of the above is in nominal values, inflation has not been factored in.
I do not know if there is an “Economic Bomb Cyclone” coming, but things are going to get a lot worse. The single best thing the United States could do to turn this around would be to cut in half the total size of government at all levels, Federal, State, and Local, so that government ended up at under 20% of GDP.
However, the political will to do that is lacking as people want their “free” stuff.
Ultimately, TANSTAAFL, and the rapidly approaching reckoning will make the Great Depression, Weimar Republic, Venezuela, Haiti, and Zimbabwe look like Teddy Bear Picnics.
I’m leaning towards an economic sharknado.
Folks should go to the liquor store NOW.